Assign 5solutionSu09

Assign 5solutionSu09 - 1,600,769.00 30200 Sales returns and allowances 61,111.00 30300 Sales discounts taken 15,570.30 30400 Cost of goods sold

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RSS Solution WAREN SPORTS SUPPLY YEAR-END WORKSHEET December 31, 2009 ACCT ACCOUNT NO. TITLE TRIAL BALANCE DEBIT CREDIT ASSETS 10100 Cash 94,771.19 10200 Accounts receivable 47,421.00 10210 Accounts receivable from employees 250.00 10300 Allowance for doubtful accounts -1,149.19 10400 Inventory 101,681.00 10500 Prepaid expenses 2,500.00 10600 Marketable securities 23,790.00 10800 Fixed assets 331,490.00 10900 Accumulated depreciation 80,459.50 11000 Notes receivable 6,000.00 LIABILITIES 20100 Accounts payable 8,767.15 20300 Federal income taxes withheld 1,824.44 20400 State unemployment taxes payable 92.17 20500 Federal unemployment taxes payable 27.31 20600 F.I.C.A. taxes payable 2,318.30 20700 Federal incomes taxes payable 0.00 20800 Dividends payable 7,500.00 20900 Interest payable 0.00 21000 Notes payable 58,000.00 21100 Unearned revenue 2,100.00 STOCKHOLDERS' EQUITY 26000 Common stock 225,000.00 29000 Retained earnings 90,264.99 29010 Dividends declared 7,500.00 0.00 REVENUE AND GROSS PROFIT 30100 Sales
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Unformatted text preview: 1,600,769.00 30200 Sales returns and allowances 61,111.00 30300 Sales discounts taken 15,570.30 30400 Cost of goods sold 0.00 30500 Purchases 1,130,295.00 30600 Purchases returns and allowances 19,445.00 30700 Purchases discounts taken 16,597.20 30800 Freight-in 24,680.94 30900 G/L on sale of fixed assets 250.00 31000 G/L on sale of marketable securities 1,260.00 31100 Interest/dividend income 1,000.00 31200 Miscellaneous revenue 825.00 EXPENSES 40100 Rent expense 57,600.00 40200 Advertising expense 22,155.00 40300 Office supplies expense 5,621.45 40400 Depreciation expense 0.00 40500 Wages and salaries expense 141,563.97 40600 Payroll tax expense 11,562.27 40700 Federal income tax expense 0.00 40800 Interest expense 0.00 40900 Bad debt expense 0.00 41000 Other operating expense 29,787.75 Sub-totals Net Income (Loss)----------------------------------------TOTALS 2,115,350.87 2,115,350.87...
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This document was uploaded on 12/27/2011.

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