157_634714809867753532_MRyan_Co._20x9_new_Winter_10

157_634714809867753532_MRyan_Co_20x9_new_Winter_10

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Unformatted text preview: Taxes Payable To record 20x9 taxes. 20 Sales 10 Cost of Goods Sold Inventory To record of cost of 1 thing. 60,000 11 Equipment Cash To record purchase of piece of equipment. 10,000 60,000 10,000 Cost of Goods Sold Salary Expense Rent Expense Interest Expense Depreciation Expense Bad Debt Expense Tax Expense Retained Earnings To close books for 20x5. 12,000 3,000 10,000 890 890 37,533 18,767 18,767 280,000 110,000 14,000 12,000 8,000 10,000 890 37,533 87,577 MRyan Co. 20x5 Assets Cash BB 50,000 1 60,000 5 90,000 9 120,000 320,000 120,234 = 50,000 30,000 3,000 20,000 10,000 13,000 28,000 15,000 12,000 18,767 199,767 Accounts Receivable BB 60,000 60,000 5 30,000 500 9 40,000 70,000 500 69,500 2 3 4 7 11 13 14 15 16 19 Liabilities + Accounts Payable 2 50,000 50,000 BB 90,000 3 60,000 7 150,000 16 Salary Payable 1,000 1,000 BB 3,000 16 Rent Payable 15 2,000 2,000 BB 1 8 ( 120,000 160,000 280,000 20 Retained Earnings 13 13,000 123,000 BB 87,577 20 13,000 210,577 197,577 Revenues Sales 280,000 5 9 Expenses ) Cost of Goods Sold 6 50,000 10 60,000 110,000 110,000 20 Salary Expense 14,000 14,000 20 16 15 14 Taxes Payable 3,000 3,000 BB 18,767 19 Long-Term Debt 20,000 80,000 BB 60,000 Rent Expense 12,000 12,000 14 4 Allowance for Doubtful Accounts 8 500 1,000 BB 500 890 18 1,390 Owners' Equity + Common Stock 90,000 BB 40,000 12 130,000 20 Interest Expense 8,000 8,000 8,000 20 Depreciation Expense 17 10,000 10,000 20 Bad Debt Expense 18 890 890 BB 3 7 BB Inventory 50,000 50,000 120,000 60,000 80,000 250,000 110,000 140,000 6 10 Prepaid Rent 0 15 1,000 BB 11 Equipment 190,000 10,000 200,000 200,000 Accumulated Depreciation-Equipment 60,000 BB 10,000 17 70,000 70,000 BB 12 BB Land 40,000 40,000 80,000 Goodwill 20,000 19 20 37,533 20 Tax Expense 37,533 MRyan Co. Balance Sheet December 31, 20x9 Assets Current Assets Cash Accounts Receivable Less: Allowan...
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This document was uploaded on 03/23/2014.

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