Chapter 4 Problem 6A Worksheet

Chapter 4 Problem 6A Worksheet - $15,000.00 $15,000.00...

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Nelson Company Worksheet Jan-08 Unadjusted TB Adjustments Adjusted TB Income Statement Retained Earnings Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash $1,000.00 $1,000.00 $1,000.00 Merchandise Inventory $12,500.00 $1,600.00 $10,900.00 $10,900.00 Store Supplies $5,800.00 $4,050.00 $1,750.00 $1,750.00 Prepaid Insurance $2,400.00 $1,400.00 $1,000.00 $1,000.00 Store Equipment $42,900.00 $42,900.00 $42,900.00 Accumulated Depreciation $15,250.00 $1,525.00 $16,775.00 $16,775.00 Accounts Payable $10,000.00 $10,000.00 $10,000.00 Common Stock $14,000.00 $14,000.00 $14,000.00 Retained Earnings $18,000.00 $18,000.00 $18,000.00 Dividends $2,200.00 $2,200.00 $2,200.00 Sales $111,950.00 $111,950.00 $111,950.00 Sales Discounts $2,000.00 $2,000.00 $2,000.00 Sales Returns/Allowances $2,200.00 $2,200.00 $2,200.00 Cost of Goods Sold $38,400.00 $1,600.00 $40,000.00 $40,000.00 Depreciation Expense $1,525.00 $1,525.00 $1,525.00 Salaries Expense $35,000.00 $35,000.00 $35,000.00 Insurance Expense $1,400.00 $1,400.00 $1,400.00 Rent Expense
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Unformatted text preview: $15,000.00 $15,000.00 $15,000.00 Store Supplies Expense $4,050.00 $4,050.00 $4,050.00 Advertising Expense $9,800.00 $9,800.00 $9,800.00 Totals $169,200.00 $169,200.00 $8,575.00 $8,575.00 $170,725.00 $170,725.00 $110,975.00 $111,950.00 Net Income $975.00 $975.00 $2,200.00 Retained Earnings $(1,225.00) $(1,225.00) $57,550.00 $57,550.00 Nelson Company Multi Step Income Statement Jan-08 Sales $111,950.00 Sales Discounts $2,000.00 Sales Returns/Allowances $2,200.00 Net Sales $107,750.00 Cost of Goods Sold $40,000.00 Gross Profit $67,750.00 Operating Expenses Advertising Expense $9,800.00 Rent Expense - Selling Space $7,500.00 Sales Salaries Expense $17,500.00 Store Supplies Expense $4,050.00 General and Administrative Expenses Depreciation Expense $1,525.00 Rent Expense - Office Space $7,500.00 Office Salaries Expense $17,500.00 Insurance Expense $1,400.00 Total Operating Expenses $66,775.00 Income From Operations $975.00 Net Income $975.00...
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This note was uploaded on 04/07/2008 for the course ACG 203 taught by Professor Simons during the Spring '08 term at Bryant.

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Chapter 4 Problem 6A Worksheet - $15,000.00 $15,000.00...

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