CPT_2020_Harmil.docx - TRIAL BALANCE ACCOUNTS DEBIT Cash...

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The general ledger trial balance for Karanikolas Painting business, AFTER a fiscal period of one year is given below. KARANIKOLAS PAINTING, TRIAL BALANCE, DECEMBER 31 ST 2018 ACCOUNTS TRIAL BALANCE DEBIT CREDIT Cash 2,000.00 Accounts Receivable 15,317.20 Supplies and Materials 23,795.16 Prepaid Insurance 4,200.00 Land 75,000.00 Building 105,000.00 Accum. Dep - Building 7,500.00 Equipment 95,700.00 Accum. Dep - equipment 22,710.00 Auto Equipment 75,325.00 Accum. Dep - Auto Equip 30,000.00 Accounts Payable 9,216.42 HST Payable 1,280.00 HST Recoverable 750.00 Bank Loan 100,000.00 Mortgage Payable 110,000.00 N. Karanikolas, Capital 61,148.91 N. Karanikolas, Drawings 50,000.00 Revenue-Sales 218,946.00 Revenue-Interest 91,315.00 Bank Charges 12,150.00 Bldg. Expense 3,220.00 Car Expense 4,960.50 Miscellaneous Expense 5,940.13 Mortgage Int. Expense 5,500.00 Postage Expense 1,240.00 Office Salaries Expense 34,319.15 Sales Expense 2750 Telephone Expense 2946 Truck Expense 26334.19 Utilities Expense 11350 Wages Expense 94,319.00 652,116.33 652,116.33
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With the additional information below, complete the following: NOTE -You will be doing this for the January 1 st 2019 – December 31 st 2019 FISCAL YEAR (annual statements) A) The income statement and balance sheet
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  • Fall '19
  • Generally Accepted Accounting Principles, N. Karanikolas

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