CAMPBELL_McKNIGHT_CORPORTION

CAMPBELL_McKNIGHT_CORPORTION - CAMPBELL WRIGHT CORP TRIAL...

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Unformatted text preview: CAMPBELL WRIGHT CORP TRIAL BALANCE DECEMBER TRIAL BALANCE Adjusted Trial Bal Income Statement Balance Sheet 11/30/2008 TRANSACTIONS 12/31/2008 Adjustments 12/31/2008 12/31/2008 12/31/2008 ACCOUNTS DR CR DR CR DR CR DR CR DR CR DR CR DR CR CASH 30,000 167,000 38,500 158,500 158,500 158,500 Accounts receivable 40,000 49,500 78,300 11,200 11,200 11,200 Allowance for doubtful accounts 3,000 3,500 500 4,561 4,061 4,061 Inventory 60,000 10,780 25,375 45,405 45,405 45,405 Notes receivable 20,000 20,000 20,000 20,000 Supplies 15,000 15,000 14,200 800 800 Prepaid rent 2,000 2,000 1,000 1,000 1,000 Land 50,000 28,000 78,000 78,000 78,000 Equipment 85,000 85,000 85,000 85,000 Accumulated depreciation-Equipment 30,000 30,000 10,000 40,000 40,000 Building 145,000 145,000 145,000 145,000 Accumulated depreciation-Building 15,000 15,000 6,500 21,500 21,500 Accounts Payable 28,000 35,940 10,780 2,840 2,840 2,840 Notes payable 50,000 50,000 50,000 50,000 Bonds payable 100,000 100,000 100,000 100,000 Discount on bond 5,000 5,000 500 4,500 4,500 Common stock 160,000 40,000 200,000 200,000 200,000 Retained earnings 30,990 5,000 25,990 25,990 25,990 Sales 148,000 66,500 214,500 9,000 205,500 205,500 Sales Returns 2,790 2,790 2,790 2,790 Cost of goods sold 70,000 25,375 95,375 95,375 95,375 Advertising expense 3,000 3,000 500 2,500 2,500 Insurance expense 6,000 6,000 2,000 4,000 4,000 Rent expense 11,000 11,000 1,000 12,000 12,000 Salary expense 19,100 2,500 21,600 2,900 24,500 24,500 Supplies expense 1,100 1,100 14,200 15,300 15,300 Total 564,990 564,990 Additional Paid In Capital 63,000 63,000 63,000 63,000 Interest Revenue 200 200 200 400 400 Interest Expense 60 60 5,500 5,560 5,560 Dividends Payable 5,000 5,000 5,000 5,000 Total 327,655 327,655 706,530 706,530 Prepaid Insurance 2,000 2,000 2,000 Depreciation Expense - Building 6,500 6,500 6,500 Depreciation Expense - Equipment 10,000 10,000 10,000 Salaries Payable 2,900 2,900 2,900 Interest Receivable 200 200 200 Interest Payable 5,000 5,000 5,000 Unearned Sales Revenue 9,000 9,000 9,000 Bad Debt Expense 4,561 4,561 4,561 Prepaid Advertising 500 500 500 Income Tax Expense 6,594 6,844 6844 Income Tax Payable 6,594 6844 6,844 6,844 Total 62,955 62,955 742,035 742,035 189,930 212,744 552,105 536,135 Net Income 22,814 22,184 Total 212,744 212,744 552,105 558,319 Journal Entries Adjusting Entries Closing Entries Reversing Entries 1 Cash 8000 1 Rent Expense 1000 1 Sales Revenue 205500 1 Rent Expense 1833 Accounts Receivable 49500 Prepaid Rent Expense 1000 Interest Revenue 400 Prepaid Rent Expense 1833 Sales 57500 Income Summary 205900 2 Prepaid Insurance 2000 2 Prepaid Insurance 2000 Cost of Goods Sold 25375 Insurance Expense 2000 2 Income Summary 189680 Insurance Expense 2000 Inventory 25375 CGS 95375 3 Depreciation Exp Building 6500 Sales Return 2790 3 Salaries Expense 2900 2 Cash 75000 Accum. Depr Exp Building 6500 Advertising Expense 2500 Salaries Payable 2900 Common Stock 30000 Insurance Expense 4000 Additional Paid In Capital - CS...
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CAMPBELL_McKNIGHT_CORPORTION - CAMPBELL WRIGHT CORP TRIAL...

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