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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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