Updated Unadjusted Trial Balance At Account Title Debit Credit

Updated unadjusted trial balance at account title

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Updated Unadjusted Trial Balance At November 30, 2018 Account Title Debit Credit Cash 20,906 Accounts Receivable 13,012 Inventory 44,160 Supplies 1,850 Equipment 30,550 Vehicle 12,250 Accumulated Depreciation 0 Accounts Payable 25,818 Deferred Revenue 375 Bonds Payable (mature 12/31/2018) 12,000 Common Stock (200 shares @ $210/share, par $210) 42,000 Retained Earnings 0 Sales Revenue 82,625 Operating Expenses 27,340 Rent expense 3,450 Wages Expense 9,300 Totals 162,818 162,818 3 Fido's Food Mart Income Statement For the Month Ending November 30, 2018 REVENUES: Sales Revenue 82,625 Total Revenue 82,625 EXPENSES: Operating Expense 27,340 Rent Expense 3,450 Wages Expense 9,300 Total Expenses $40,090
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NET INCOME: $42,535 Fido's Food Mart Statement of Retained Earnings For the Month Ending November 30, 2018 Beginning Retained Earnings (11/1/18) $ - Add: Net Income $42,535 Less: Dividends $ - Ending Retained Earnings (11/30/2018) $42,535 Fido's Food Mart Classified Balance Sheet 11/30/2018 ASSETS: Curent Assets: Cash $ 20,906 Accounts Receivable 13,012 Inventory 44,160 Supplies 1,850 Total Current Assets $ 79,928 Non-current Assets: Equipment 30,550 Vehicles 12,250 Total Assets ### LIABILITIES: Current Liabilities: Accounts Payable 25,818 Deferred Revenue 375 Total Current Liabilities 26,193 Non-current Liabilities: Bonds Payable 12,000 Total Liabilities 38,193 STOCKHOLDERS' EQUITY: Common Stock 42,000 Retained Earnings 42,535 Total Stockholders' Equity 84,535 TOTAL LIABILITIES + STOCKHOLDERS' EQUITY ###
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1 Insurance E ASSETS = LIABILITIES+ STOCKHOLDERS' EQUITY 480/3 = $160 Prepaid Insurance $160 Insurance Expense (+E. -SE) -160 -160 12/31/2018 Insurance Expense 160 Prepaid Insurance 160 Insurance Expense Prepaid Insurance BB 0 BB 480 160 AJE - 12/31 AJE - 12/31 160 EB 160 EB 320 2 ASSETS = LIABILITIES+ STOCKHOLDERS' EQUITY Supplies -1200 Supplies Expense -1200 -1200 -1200 12/31 Supplies Expense 1,200 Supplies 1,200 Supplies Supplies Expense BB 1,850 BB 0 12/31 1,200 AJE 1,200 Adj Bal 650 Adj Bal 1,200 3 ASSETS = LIABILITIES+ STOCKHOLDERS' EQUITY 4 Gift Card Deferred Rev -100 Sales Rev +100 0 0 12/31 Deferred Revenue 100 Sales Revenue 100 Deferred Revenue Sales Revenue AJE - 12/31 100 375 BB 132,625 100 275 132,725 4 Fido's Food Mart Updated Unadjusted Trial Balance At December 31, 2018 Account Title Debit Credit Cash 50,938
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Accounts Receivable 12,250 Inventory 84,720 Supplies 650 Prepaid Insurance 320 Equipment 30,550 Vehicle 12,250 Accumulated Depreciation 0 Accounts Payable 62,128 Deferred Revenue 275 Bonds Payable (mature 12/31/2018) 12,000 Common Stock (200 shares @ $210/share, par $210) 42,000 Retained Earnings 0 Sales Revenue 132,725 Operating Expenses 34,840 Depreciation Expense 0 Insurance Expense 160
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