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Ch06P4A - Interest revenue 310 General and administrative...

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Problem 6-4A Classic Threads Work Sheet For Year Ended December 31, 2005 Account Adjustments Income Statement 2. Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Classic Threads Cash 10,275 Income Statement Prepaid selling expenses 22,665 For Year Ended December 31, 2005 Merchandise inventory 54,365 Sales Store supplies 2,415 Less: Sales returns and allowances Office supplies 775 Net sales - Prepaid insurance 3,255 Cost of goods sold Store equipment 61,980 Gross profit - Accumulated amortization, store 10,830 Operating expenses: Office equipment 12,510 Selling expenses: Accumulated amortization, office 2,825 Accounts payable 8,000 Salaries payable - Sally Fowler, capital 106,015 Sally Fowler, withdrawals 15,000 Total selling expenses
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Unformatted text preview: - Interest revenue 310 General and administrative expenses: Sales 562,140 Sales returns and allowances 5,070 Cost of goods sold 381,160 Sales salaries expense 43,220 Rent expense, selling space 20,250 Store supplies expense- Amortization expense, store- Office salaries expense 48,330 Total general and administrative expenses- Rent expense, office space 8,850 Total operating expenses- Office supplies expense Income from operations- Insurance expense Other revenues and expenses: Amortization expense, office- Totals 690,120 690,120 Net income (loss) Unadjusted Trial Balance Adjusted Trial Balance Balance Sheet & Statement of Owner's Equity...
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