ACC 301 Excel Project - MSU Candy Company Inc Work Sheet...

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MSU Candy Company, Inc. Work Sheet for the Year Ended 12/31/12 Accounts 2011 PC Trial Balance Adjustments Adjusted Trial Bal. Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash $10,000 A2 $583,761 $201,226 $201,226 A3 $26,600 B2 $301,682 B3 $13,000 C $2,480 D $25,492 E $3,254 G $76,710 I $4,000 hh $1,623 hh $648 Accts/Rec $28,000 A1 $648,623 $64,862 $64,862 A2 $583,761 A3 $26,600 A4 $1,400 Allow. for D. Accts. $2,000 A4 $1,400 $3,243 $3,243 aa $2,643 Notes Rec. $6,000 E $3,000 $3,000 $3,000 Merch Inv. $60,000 bb $3,770 $56,230 $56,230 Prep. Insurance $500 C $2,480 $620 $620 cc $2,360 Supplies $8,000 D $25,492 $5,623 $5,623 dd $27,869 Land $40,000 $40,000 $40,000 Building $200,000 $200,000 $200,000 AccumDepr-Bldg $16,000 ff $4,000 $20,000 $20,000 Equipment $80,000 F $7,623 $77,623 $77,623 F $10,000 AccumDepr-Equip $28,800 F $3,600 $40,725 $40,725 ff $15,525 Accts/Pay $13,000 B2 $301,682 $53,238 $53,238 B3 $13,000 B1 $354,920 Salaries Pay $5,000 G $5,000 $15,492 $15,492 gg $15,492 Payroll Taxes Pay $2,000 G $2,000 $3,623 $3,623 gg $3,623 Unearned Revenue $3,000 H $2,244 $756 $756 Dividends Pay $4,000 I $4,000 $6,623 $6,623 I $6,623 Com Stk-$10 Par $200,000 $200,000 $200,000 APIC-C/S $20,000 $20,000 $20,000 Retained Earnings $138,700 $138,700 $138,700 Totals $432,500 $432,500 Dividends I $6,623 $6,623 $6,623 Sales Revenue A1 $648,623 $648,623 $648,623 Service Revenue H $2,244 $2,244 $2,244 Interest Revenue E $254 $2,005 $2,005 ee $127 hh $1,623 COGS bb $358,690 $358,690 $358,690 Gain on Disp. Equip F $1,223 $1,223 $1,223 Salaries Exp G $61,230 $61,230 $76,722 gg $15,492 $15,492 Payroll Taxes Exp G $8,480 $8,480 $12,103 gg $3,623 $3,623 Depr. Exp.-Bldg ff $4,000 $4,000 $4,000 Depr. Exp.-Equip

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