157_634718044028356491_Sam_s_Town_2011

Rec 5425 135000 6 wages payable wage expense cash

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Unformatted text preview: 6 Wages Payable Wage Expense Cash Wages Payable To record wages paid & owed. 5,000 37,000 7 Utilities Expense Advertising Expense Cash To record payments for utilities & advertising expenses. 12,000 10,000 8 Interest Payable Interest Expense (1/1/11-6/30/11) Note Payable Cash To record payment on Note Payable. 5,000 5,000 10,000 9 Interest Expense (6/30/x8-12/31/x8) Interest Payable To record interest expense on Note Payable. (100,000-10,000)*.10/2 10 Vehicles Cash To record purchase of wagon. 40,000 2,000 22,000 18 Tax Expense Cash Taxes Payable To record 20x8 taxes. 19 Sales 20,000 4,500 4,500 20,000 20,000 Cost of Goods Sold Wage Expense Rent Expense Utilities Expense Advertising Expense Interest Expense Depreciation Expense Tax Expense Bad Debt Expense Retained Earnings To close books. 3,000 8,000 1,000 30,000 8,000 1,500 5,425 14,723 7,361.25 7,361.25 300,000 135,000 37,000 12,000 12,000 10,000 9,500 30,000 14,723 5,425 34,353 Sam's Town 2009 Assets Cash BB 108,000 80,000 1 40,000 25,000 4 180,000 40,000 22,000 20,000 20,000 5,000 8,000 8,000 7,361 328,000 235,361 92,639 = 2 3 6 7 8 10 12 13 15 18 BB 3 Inventory 60,000 125,000 185,000 50,000 BB Prepaid Rent 3,000 BB 10 BB Wages Payable 5,000 5,000 BB 2,000 6 ( Revenues Sales 300,000 19 300,000 4 Retained Earnings 12 5,000 111,000 BB 34,353 19 5,000 145,353 140,353 Expenses ) Cost of Goods Sold 5 135,000 135,000 19 6 Wage Expense 37,000 37,000 19 13 Rent Expense 12,000 12,000 19 7 Utilities Expense 12,00...
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