View the step-by-step solution to: I am working on the Rockford Practice Set- periodic inventory and my unadjusted...

I am working on the Rockford Practice Set- periodic inventory and my unadjusted trial balance is not balancing. Help me please. The balance on the trial balance is supposed to be 7,310,197. Can you please help?
Rockford Practice Set.xls

DATE
Account Titles and Explanation
12 3 Allowance for Doubtfull Accounts
Accounts Receivable
To record the write-of of an account due to bankruptcy

12

7 Payrol Taxes Expense
FICA Taxes Payable
To record employer's portion of FICA taxes on
biweekly payroll

12 15 Sales Returns and Allowance
Accounts Receivable-The Potts Company
To record defectve copper tubing returned
by customer
Merchandise Inventory
Cost of Goods Sold
To record cost of goods returned by customer

12 15 Accounts Payable -Edward's Plumbing Supplies, Inc
Merchandise Inventory
To record defective copper tubing returned by supplier

12 17 Notes Receivable
Accounts Receivable -Bidler Construction
To record receipt of a 14%, 6 month
note for an overdue accounts receivable

12 21 Payroll Taxes Expense
FICA Taxes Payable
To record employer's portion of FICA taxes on
biweekly payroll

12 23 Merchandise Inventory
Acounts Payable-DeKalb Transport
To record freight costs for December, 2010

12 27 Retained Earnings
Dividends Payable
To record dividends payable (5300*2.70)

12 27 Notes receivable
Accounts Receivable
To record receipt of a 12%, 6 month
note for an overdue accounts receivable

12 27 Land
Common Stock
PIC in Excess of Stated Value
Issued Common stock for land

12 30 Office Supplies Expense
Freight-Out
Freight-In
Petty Cash

12 31 Depreciation Expense- Trucks
Accum. Depr. - Delivery Trucks
To record half years depreciation in year of sale

12 31 Payroll taxes Expense
FICA Taxes Payable
To record employer's portion of FICA taxes on
Monthly payroll

REF
113

DEBIT
3,700

CREDIT
3,700

112/190

730
214

350

412

4,680

350

4,680

112/122

###
120
505

3,550

201/18

3,550

3,550

120

115

3,550

45,200
45,200

112/180

730
214

415

120

2,300

415

2,300

201/20

320
250

14,310
14,310

115

14,000
14,000

140

644

516
105

Posted
Posted
Posted

142

Posted
Posted
Posted
Posted

350

Posted
Posted

2,120

Posted
Posted

54,000

311
330

728

Posted
posted

18,000
36,000

112/175

Posted
Posted

68
23
51

617
164

350

730
214

2,120

148,667

148,667

12

PURCHASES JOURNAL
DATE
2010

12 2
8
17
22
22
29

PUR.
ORDER
NO.

ACCOUNT CREDITED

315 Edwards Plumbing Supplies, Inc. n/60
316 Phoenix Plastics 1/10, n/30
317 Smith Piple Company 1/15, n/60
318 (see Cash Disbursements Journal)
319 Phoenix Plastics 1/10, n/30
320 Oxenford Copperworks 1/10, N/30

ACCT NO.

AMOUNT

18
14
39

24320
52700
43800

14
35

48330
55940

Purchase
Accounts Payable

225090
225090
Posted

.

12

SALES JOURNAL
DATE
2010

12 1
3
6
8
10
13
14
17
20
28
30
31

INVOICE
NO.

ACCOUNT DEBITED

1201 Beverly's Building Products
1202 Bilder Construction Co.
1203 Coconino Contractors Inc
1204 Trudy's Plumbing
1205 Trudy's Plumbing
1206 The Potts Company
1207 Boecker Builders
1208 A & B Hardware
1209 Coconino Contractors Inc
1210 Boecker Builders
1211 Swanson Brothers Construction
1212 Trudy's Plumbing

ACCT NO.
175
180
160
155
155
122
117
143
160
117
133
155

ACCT REC. DR
SALES CR

COST OF GOODS
SOLD DR MER. INVEN.
CR

13,150
44,900
10,300
26,300
24,850
31,450
21,730
7,920
42,780
42040
24650
55770

10,520
35,920
8,240
2,140
19,880
25,160
17,384
6,336
34,224
33632
19720
44616

Accounts Receivable
Sales

345,840
345840
Posted

12
CASH RECEIPTS JOURNAL
SUNDRY ACCOUNTS
DATE 2010

12

DESCRIPTION

1 Swanson Brothers Constru
6 The Potts Company
7 Rankin Plumbing Corp
8 Coconino Contractors, Inc
9 Boecker Builders
10 Trudy's Plumbing
13 Boecker Builders
13 Cash Sales
14 Trudy's Plumbing
20 Trudy's Plumbing
30 Boecker Builders
31 Leila Stierman Company

31 Cash Sales

CASH DR

23,569
49,294
72,863
27,800
29,000
15,100
33,920
12,292
25,774
24,353
21730
2500

SALES
DISCOUNTS
DR

481
1,006
1,487

REF

133
122
166
160
117
155
117

ACCOUNTS
RECEIVABLE
CR

ACCT NO

DR

CR

24,050
50,300
74,350
27,800
29,000
15,100
33,920

Cash
Sales Discounts
Accounts Receivable
Sales
Equipment

364,175
3997
327400
38272
2500
364175

12,292
526
497

155
155

26,300
24,850
21730

12292
323403
163
921
164

25980
373572

SALES CR

25,980
373,572

7900
500
4900

CASH DISBURSEMENTS JOURNAL
SUNDRY ACCOUNTS
DATE 2010

12

CHECK NO

2
6
7
7
7

PAYEE

1580 Oxenford Copperworks
1581 Standard Oil Company
1582 Khatan Steel Corp
1583 Phoenix Plastics
1584 Payroll Bank Account

CASH CR

26,400
810
9,900
10,486
3,420







4,860

732
216
214





399
9,573
1,787










1,021
1,360
5,770

83,000

516
125
643
214
216
218
151
201/16
330

2,650

649



2,650

610



500



925

1590 Phoenix Plastics
1591 S. White Trucking
1592 Pen & Pad
1593 Payroll Bank Account

52,173
1,021
1,360
4,063

14
39

14

6,750
38,100

52,700

100
214

1596 Wayne McManus

29

1597 Northern Star
1598 Standard Oil Co.

925

29

1599 Chicago Trust Co.

15,000

30

1600 Smith Pipe Company

43,362

31

1603 Payroll Bank Account

28,067

1601 Replenish Petty cash

31

1602 Increase Petty Cash

600

527

500

29

350
900
190

381

600

28

30

CR

643
214
216
218
610

16
20
21
21

1595 Dionne Schivone

10,000
10,700

DR

26,400

57
14

ACCT NO

810

600
6,750
37,719
399
11,360

27

35

PURCH DISC
DR



1585 Scooter Gordon
1586 Phoenix Plastics
1587 Smith Pipe Company
1588 N. III. Communications
1589 Winnebago County Bank

1594 Business Basics, Inc

ACCOUNTS
PAYABLE DR

644

9
9
10
15
16

22

REF

644

415
1,067
225
6,100
5,500
83,000

135
43,800



15,000

627
727
214
216
218







16,000
22,900

438

2,120
7196
1,517

142

105

142

75

105

75

Cash Credit- 340782
A/P Debit- 188450
Purch.Disc- 1660

DGER ACCOUNTS
ACCOUNT: Cash
DATE
EXPLANATION
2010
1/1 Balance
11/30 Balance
12/31
12/31

ACCOUNT: Petty Cash
DATE
EXPLANATION
2010
1/1 Balance
12/30
12/30
12/31

101
REF.

DEBIT

CREDIT

39,210
CR 31
CD 31

364175
340782

J
J
J

DEBIT

30
30
31

CREDIT

142
142
75

CREDIT

J
J
J
J
CR
S

9
9
9
27
31
31

J

9

3700
4680
45200
14000
327400
345840

ACCOUNT: Interest Receivable
DATE
EXPLANATION
2010

CREDIT

115
REF.

DEBIT

CREDIT

J9
J 27

45,000
90,200
104,200

45,200
14,000

118
REF.

DEBIT

CREDIT

BALANCE
580
-

120
DEBIT

CREDIT

1/1 Balance

BALANCE
531,960

125
REF.

DEBIT

CREDIT

1/1 Balance

BALANCE
470

CD 18

2,320
3,680

1360

130
REF.

DEBIT

CREDIT

1/1 Balance

BALANCE
3,970

11/30

ACCOUNT: Prepaid Rent
DATE
EXPLANATION
2010

BALANCE
40,000

ACCOUNT: Merchandise Inventory
DATE
EXPLANATION
REF.
2010

ACCOUNT: Prepaid Insurance
DATE
EXPLANATION
2010

BALANCE

4,580
880

3700

11/30 Balance

11/30 Balance
12/21

317,420
313,720
309,040
263,840
249,840
(77,560)
268,280

13,520

1/1 Balance

ACCOUNT: Office Supplies
DATE
EXPLANATION
2010

BALANCE

113
DEBIT

1/1 Balance
11/30 Balance-Platteville Plumbers
12/17 Bilder Construction
12/27 Beverly's Building Products

150
8
150
225

172,643

ACCOUNT: Allowance for Doubtful Accounts
DATE
EXPLANATION
REF.
2010
1/1 Balance

ACCOUNT: Notes Receivable
DATE
EXPLANATION
2010

BALANCE

112
DEBIT

1/1 Balance

11/30 Balance
12/3

209,930
574,105
233,323

105
REF.

ACCOUNT: Accounts Receivable
DATE
EXPLANATION
REF.
2010

11/30 Balance
12/3
12/15
12/17
12/27
12/31
12/31

BALANCE

11,020

131
REF.

DEBIT

CREDIT

BALANCE

1/1 Balance

3,630

11/30 Balance

25,410

ACCOUNT: Other Assets
DATE
EXPLANATION
2010

135
REF.

DEBIT

CREDIT

1/1 Balance
11/30
12/29

BALANCE
130,000

CD 15
CD 29

15,000
15000

145,000
160,000

0
ACCOUNT: Land
DATE
EXPLANATION
2010

140
REF.

DEBIT

CREDIT

1/1 Balance
12/27

ACCOUNT: Building
DATE
EXPLANATION
2010
1/1 Balance

BALANCE
43,000

J 27

54000

97,000

145
REF.

DEBIT

CREDIT

BALANCE
306,000

GENERAL LEDGER ACCOUNTS
ACCOUNT: Accum. Depr-Buildings
DATE
EXPLANATION
REF.
DEBIT
2010

146
CREDIT

1/1 Balance

ACCOUNT: Office Equipment
DATE
EXPLANATION
2010

73,040

151
REF.

DEBIT

CREDIT

1/1 Balance

152
DEBIT

CREDIT

1/1 Balance

12/31

163
REF.

DEBIT

CREDIT

J
J

31
31

7900

11/30 Balance
12/15
12/22
12/31

ACCOUNT: Wages payable
DATE
EXPLANATION
2010

CREDIT

350
4900

DEBIT

CREDIT

BALANCE

201
REF.

DEBIT

CREDIT

BALANCE
86,352

J
CD
P
CD

9
18
31
31

3550
5500
225090
188450

126,850
123,300
128,800
353,890
165,440

211
REF.

DEBIT

CREDIT

BALANCE
1,906
-

ACCOUNT: FICA Taxes Payable

214
REF.

DEBIT

CREDIT

1/1 Balance
11/30
12/7
12/7
12/16
12/21
12/21
12/31
13/31

39,540
39,890
34,990

15,000

11/30 Balance

EXPLANATION

BALANCE

200
REF.

1/1 Balance

DATE

7 0,500

164
DEBIT

1/1 Balance-renewed 12/31/2009

ACCOUNT: Accounts Payable
DATE
EXPLANATION
2010
1/1 Balance

BALANCE
7 8,400

ACCOUNT:Accum: Depre-Delivery Trucks
DATE
EXPLANATION
REF.
2010

ACCOUNT:Notes Payable
DATE
EXPLANATION
2010

BALANCE
13,200

CR 31

1/1 Balance
12/31
12/31

BALANCE
32,800

ACCOUNT: Accum Depr-Office Equip
DATE
EXPLANATION
REF.
2010

ACCOUNT: Delivery Trucks
DATE
EXPLANATION
2010
1/1 Balance

BALANCE

BALANCE
7 81

CD
J
CD
J
CD
J
CD

18
9
18
9
18
31
31

350
350
1787
415
415
2120
2120

1,787
2 ,137
2 ,487
7 00
1,115
1,530
3,650
5,770

0

ACCOUNT: Federal Income Taxes Payable
DATE
EXPLANATION
REF.
2010
1/1 Balance

215
DEBIT

CREDIT

15,789

11/30

-

ACCOUNT: Federal Income Tax withldg Payable
DATE
EXPLANATION
REF.
2010

216
DEBIT

CREDIT

1/1 Balance
11/30 Balance
12/7
12/16
12/21
12/31

BALANCE
5,148

CD
CD
CD
CD

18
18
18
31

900
9573
1067
7196

ACCOUNT: State Income Tax Withhldg Payable
DATE
EXPLANATION
REF.
DEBIT
2010

9,573
10,473
900
1,967
9,163

218
CREDIT

1/1 Balance
11/30
12/7
12/21
12/31

BALANCE

BALANCE
1,595

CD 18
CD 18
CD 31

190
225
1517

ACCOUNT: Federal Unemployment Taxes Payable
DATE
EXPLANATION
REF.
DEBIT
2010

2 ,486
2 ,676
2 ,901
4 ,418

224
CREDIT

BALANCE

1/1 Balance

2 16

11/30 Balance

4 00

ACCOUNT: State Unemployment Taxes Payable
DATE
EXPLANATION
REF.
2010
1/1 Balance
11/30 Balance

226
DEBIT

CREDIT

BALANCE
1,323
2,600

GENERAL LEDGER ACCOUNTS
ACCOUNT: Interest Payable
DATE
EXPLANATION
2010

230
REF.

DEBIT

CREDIT

BALANCE

1/1 Balance

15,165

11/30

ACCOUNT: Dividends Payable
DATE
EXPLANATION
2010
1/1 Balance
11/30
12/27 Declared Dividends

-

250
REF.

J

27

ACCOUNT: Notes Payable (LT Liability)
DATE
EXPLANATION
REF.
2010
1/1 Balance
7/1 Increased Mortgage
CR 10

ACCOUNT: Bonds Payable
DATE
EXPLANATION
2010

DEBIT

CREDIT

BALANCE
23,100
15,930

15,930

268
DEBIT

CREDIT

BALANCE
43,000
113,000

70,000

270
REF.

DEBIT

CREDIT

BALANCE

1/1 Balance (ISSUED 03/01/04)

275,000

ACCOUNT:Discount on Bonds Payable
DATE
EXPLANATION
REF.
2010

273
DEBIT

CREDIT

BALANCE

1/1 Balance

4 ,400

ACCOUNT:Common Stock-$30 Stated Value
DATE
EXPLANATION
REF.
2010

311
DEBIT

CREDIT

BALANCE

1/1 Balance (6,300)

189,000

12/27

18,000

ACCOUNT: P-I-C in Excess of Stated Value
DATE
EXPLANATION
REF.
2010
1/1 Balance

317
DEBIT

BALANCE

36,000

292,400

320
REF.

J

27

ACCOUNT:Treasury Stock-Common
DATE
EXPLANATION
REF.
2010
1/1 Balance
12/27

CREDIT

256,400

12/28

ACCOUNT: Retained Earnings
DATE
EXPLANATION
2010
1/1 Balance
12/27 Declared Dividends

207,000

CD 27

DEBIT

CREDIT

BALANCE
362,748
348,438

14,310

330
DEBIT

CREDIT

BALANCE
44,610
127,610

83,000

ACCOUNT: Dividends Declared
DATE
EXPLANATION
2010

REF.

DEBIT

CREDIT

BALANCE

ACCOUNT: Income Summary
DATE
EXPLANATION
2010

REF.

DEBIT

CREDIT

BALANCE

ACCOUNT: Sales
DATE
EXPLANATION
2010

REF.

DEBIT

CREDIT

11/30
12/31
12/31

333

350

401

CR 31
S 31

ACCOUNT: Sales Returns and Allowances
DATE
EXPLANATION
REF.
2010

BALANCE
5,234,940
5,273,212
5,619,052

38,272
345,840

412
DEBIT

CREDIT

BALANCE
dr

11/30 Balance
12/15

ACCOUNT: Sales Discounts
DATE
EXPLANATION
2010
11/30 Balance
12/31

9,380
J

9

4,680

14,060

414
REF.

DEBIT

CREDIT

BALANCE
dr

3,997

73,044
77,041

0

GENERAL LEDGER ACCOUNTS
Purchases
DATE
2010

510
EXPLANATION

11/30 Balance
12/31

REF.

P 31

DEBIT

CREDIT

BALANCE
3,722,290
3,947,380

225,090

GENERAL LEDGER ACCOUNTS
Purchases Returns and Allowances
DATE
EXPLANATION
2010
11/30 Balance
12/15

512
REF.

J

DEBIT

CREDIT

9

BALANCE
25,520
29,070

3,550

GENERAL LEDGER ACCOUNTS
Purchases Discount
DATE
EXPLANATION
2010

REF.

DEBIT

514
BALANCE

CREDIT

11/30 Balance
12/31

67,496
CD 31

1,660

69,156

GENERAL LEDGER ACCOUNTS
Freight In
DATE
2010

516
EXPLANATION

11/30 Balance
12/20
12/23
12/30

ACCOUNT: Advertising Expense
DATE
EXPLANATION
2010
11/30 Balance
12/9
12/29

ACCOUNT:Bad Debt Expense
DATE
EXPLANATION
2010

REF.

CD 18
J9
J 30

DEBIT

CREDIT

BALANCE
19,448
20,469
22,769
22,820

1,021
2,300
51

610
REF.

DEBIT

CREDIT

BALANCE
6,578

CD 18
CD 29

600
500

7,178
7,678

612
REF.

DEBIT

CREDIT

BALANCE

ACCOUNT: Depreciation Expense-Trucks
DATE
EXPLANATION
REF.
2010

DEBIT

CREDIT

BALANCE

31-Dec

ACCOUNT: Sales Salaries Expense
DATE
EXPLANATION
2010
11/30 Balance
12/31

ACCOUNT:Wages Expense
DATE
EXPLANATION
2010

J

617
350

350

627
REF.

CD 31

REF.

DEBIT

CREDIT

132,990
148,990

16,000

DEBIT

BALANCE

CREDIT

643
BALANCE

11/30 Balance
12/7
12/7

CD 18
CD 18

4,860

110,616
115,476

12/21

CD 18

5,770

121,246

ACCOUNT: Freight-Out
DATE
EXPLANATION
2010

REF.

DEBIT

CREDIT

11/30 Balance
12/6
12/29
12/30

17,732
CD 18
CD 29
J 30

ACCOUNT: Miscellaneous Selling Expense
DATE
EXPLANATION
REF.
2010
12/29

CD 28

ACCOUNT: Depreciation Expense-Buildings
DATE
EXPLANATION
REF.
2010

ACCOUNT: Depreciation Expense -Off. Equip
DATE
EXPLANATION
REF.
2010
31-Dec k office eqpt
j
computer
j

ACCOUNT: Insurance Expense
DATE
EXPLANATION
2010

644
BALANCE

810
925
23

18,542
19,467
19,490

649
DEBIT

CREDIT

2,650

BALANCE
2,650

713
DEBIT

CREDIT

BALANCE

DEBIT

CREDIT

BALANCE

0
715

5,620

5,620

722
REF.

DEBIT

CREDIT

BALANCE

GENERAL LEDGER ACCOUNTS
ACCOUNT:Office Salaries Expense
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/31

CD 31

ACCOUNT: Office Supplies Expense
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/30

ACCOUNT: Rent Expense
DATE
EXPLANATION
2010

J

30

DEBIT

CREDIT

727
BALANCE
689,516
712,416

22,900

728
DEBIT

CREDIT

BALANCE
1,540
1,608

68

729
REF.

DEBIT

CREDIT

BALANCE

0
ACCOUNT: Payroll Taxes Expense
DATE
EXPLANATION
REF.
2010

730
DEBIT

CREDIT

11/30 Balance
12/7
12/21
12/31

ACCOUNT:Utilities Expense
DATE
EXPLANATION
2010
11/30 Balance
12/15

ACCOUNT: Interest Revenue
DATE
EXPLANATION
2010

82,916
J
J
J

9
9
31

350
415
2,120

83,266
83,681
85,801

732
REF.

CD 18

DEBIT

CREDIT

BALANCE
16,270
16,669

399

820
REF.

DEBIT

CREDIT

11/30 Balance

ACCOUNT: Gain On Plant Assets
DATE
EXPLANATION
2010

BALANCE

BALANCE
3,150

826
REF.

DEBIT

CREDIT

BALANCE

REF.

DEBIT

CREDIT

BALANCE

0
ACCOUNT: Interest Expense
DATE
EXPLANATION
2010
11/30 Balance

ACCOUNT:Loss on Plant Assets
DATE
EXPLANATION
2010
12/31

ACCOUNT: Income Tax Expense
DATE
EXPLANATION
2010
11/30 Balance

905

24,570

REF.
CR 31

DEBIT

CREDIT

500

0
921
BALANCE
500

0
999
REF.

DEBIT

CREDIT

BALANCE
112,000

SUBSIDIARY LEDGERS (Accounts Receivable)
ACCOUNT: Boecker Builders
DATE
EXPLANATION
2010
11/30 Balance
12/9
12/13
12/14
12/28
12/30

117
REF.

1050

ACCOUNT: The Potts Company
DATE
EXPLANATION
2010
11/30 Balance
12/6
12/13
12/15

DEBIT

1071
1207

BALANCE
62,920
33,920
2 1,730
63,770
42,040

2 9,000
33,920

1071

1210

CREDIT

2 1,730
42,040

1207

2 1,730

122
REF.

DEBIT

50,300

1128
1206

CREDIT

31,450
4,680

1206

BALANCE
50,300
31,450
2 6,770

0
ACCOUNT:Swanson Brothers Construction
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/1
12/30

133
DEBIT

2 4,050

1120
1211

CREDIT

BALANCE
2 4,050
-

2 4,650

0
ACCOUNT: A & B Hardward
DATE
EXPLANATION
2010
12/17

143
REF.
1208

DEBIT

CREDIT

7 ,920

BALANCE
7 ,920

0
ACCOUNT: Trudy's Plumbing
DATE
EXPLANATION
2010
11/30 Balance
12/8
12/10
12/10
12/14
12/20
12/31

REF.

1204

DEBIT

2 6,300
15,100

1106
1205

2 4,850
2 6,300
2 4,850

1204
1205

1212

CREDIT

55,770

155
BALANCE
15,100
41,400
2 6,300
51,150
2 4,850
55,770

0
ACCOUNT:Coconino Constructors, Inc
DATE
EXPLANATION
REF.
2010
11/30
12/6
1203
12/8
1091
12/20
1209

ACCOUNT: Rankin Plumbing Corp.
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/7

1201

11/30 Balance
12/3
12/17

10,300
2 7,800

1202

CREDIT

7 4,350

2 7,800
38,100
10,300
53,080

BALANCE
7 4,350
-

175
DEBIT

CREDIT

13,150
14,000

BALANCE
14,000
2 7,150
13,150

180
DEBIT

CREDIT

44,900
45,200

1120

ACCOUNT: Iwanaga Plumbing and Heating
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/3 Write Off
780

BALANCE

166
DEBIT

1119

ACCOUNT:Bilder Construction Company
DATE
EXPLANATION
REF.
2010

CREDIT

42,780

1129

ACCOUNT: Beverly's Building Products
DATE
EXPLANATION
REF.
2010
11/30 Balance
12/1
12/27

160
DEBIT

BALANCE
45,200
90,100
44,900

0
190
DEBIT

CREDIT

3,700

BALANCE
3,700
-

0

SUBSIDIARY ACCOUNTS (Payables)
ACCOUNT: Phoenix Plastics
DATE
EXPLANATION
2010
11/30 Balance
12/7
12/8 1/10, n/30
12/9
12/16
12/22 1/10, n/30

ACCOUNT: Business Basics, Inc.
DATE
EXPLANATION
2010
12/22 n/30

14
REF.

313
316
299
316
319

DEBIT

10,700
52,700
6,750
52,700
48,330

DEBIT

12/23 n/30

315
315

ACCOUNT:Oxenford Copperworks
DATE
EXPLANATION
2010
11/30 Balance
12/2
12/28

ACCOUNT:Smith Pipe Company
DATE
EXPLANATION
2010
11/30
12/10
12/17 1/15, n/60
12/30 1/15, n/60

DEBIT

2 4,320

DEBIT

9

REF.

280
320

18
BALANCE
2 0,050
44,370
40,820

20
BALANCE

CREDIT
2 ,300

DEBIT

BALANCE
5,500

CREDIT

3,550

REF.
J

CREDIT
5,500

ACCOUNT: Edward's Plumbing Supplies, Inc
DATE
EXPLANATION
REF.
2010

ACCOUNT: DeKalb Transport
DATE
EXPLANATION
2010

BALANCE
17,450
6,750
59,450
52,700
48,330

16
REF.
318

11/30 Balance
12/2 n/60
12/15

CREDIT

2 ,300

35
BALANCE

CREDIT

2 6,400
55,940

2 6,400
55,940

39
REF.

314
317
317

ACCOUNT: Ron & Rod's Plumbing Products
DATE
EXPLANATION
REF.
2010
11/30 Balance

DEBIT

CREDIT

38,100
43,800
43,800

DEBIT

BALANCE
38,100
43,800
-

44
BALANCE

CREDIT
14,850

0
ACCOUNT: Khatan Steel Corp
DATE
EXPLANATION
2010
11/30 Balance
12/7

57
REF.

312

DEBIT

CREDIT

BALANCE
10,000
-

10,000

0
ACCOUNT:Northern Electric Co
DATE
EXPLANATION
2 010

REF.

DEBIT

CREDIT

58

ACCOUNT: City of Rockford
DATE
EXPLANATION
2010

REF.

DEBIT

CREDIT

BALANCE

BALANCE

0
59

0
DATE

EXPLANATION

REF.

DEBIT

CREDIT

BALANCE

DATE
2010

EXPLANATION

REF.

DEBIT

CREDIT

BALANCE

.

ROCKFORD CORPORATION
TEN-COLUMN WORKSHEET DECEMBER 31, 2010
ACCOUNT TITLE

TRIAL BALANCE
DR

Cash
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts
Notes Receivable
Interest Receivable
Merchandise Inventory
Office Supplies
Prepaid Insurance
Prepaid Rent
Other Assets
Land
Buildings
Accum. Dep. Buildings
Office Equipment
Accum. Dep.Office Equipment
Delivery Trucks
Accum Dep Delivery Trucks
Notes Payable
Accounts Payable

ADJUSTMENTS
CR

DR

ADJUSTED TRAIL BALANCE
CR

DR

233,323

34,990.00
15,000.00
165,440.00
0.00

0

880.00
104,200.00
0.00
531,960.00
3,680.00
11,020.00
25,410.00
160,000.00
97,000.00
306,000.00
73,040.00
32,800.00
13,200.00
70,500.00

Wages Payable
Salaries Payable

INCOME STATEMENT
CR

233323
225
268280
0
104200
0
531960
3,680.00
11,020.00
25,410.00
160000
97000
306000
0
32800
0
70500
0
0
0

225.00
268,280.00

DR

BALANCE SHEET
CR

DR

CR

0
0
0
880.00
0
0
0
0
0
0
0
0
0
73,040.00
0
13,200.00
0
34,990.00
15,000.00
165,440.00

233323
225
268280
0
104200
0
531960
3680
11020
25410
160000
97000
306000
0
32800
0
70500
0
0
0

0.00

0

0
0
0
880
0
0
0
0
0
0
0
0
0
73040
0
13200
0
34990
15000
165440
0

0.00

0

0

0

5,770.00

0

5,770.00

0

5770

0.00

0

0.00

0

Federal Income Withhold Tax Payable

9,163.00

0

9,163.00

0

9163

State Income Withholding Tax Payable

4,418.00

0

4,418.00

0

4418

FICA Tax Payable
Federal Income Tax Payable

Federal Unemployment Taxes Payable

0

400.00

0

400.00

0

400

2,600.00

0

2,600.00

0

2600

0.00

0

0.00

0

0

14,310.00

0

14,310.00

0

14310

Notes Payable (LT Liabilities)

113,000.00

0

113,000.00

0

113000

Bonds Payable

275,000.00

275,000.00

0

275000

State Unemployment Taxes Payable
Interest Payable

0
Dividends Payable

Discount on Bonds Payable
Common Stock
P-I-C in Excess of State Value
Retained Earnings
Treasury Stock - Common

4,400.00

4,400.00
0
0

207,000.00
292,400.00

4400
0
0

0
207000
292400

348,438.00

0
127610

348,438.00
0

0
127610

348438
0

0.00

0

0

0

1976408

1575049

207,000.00
292,400.00
127,610.00

Dividends Declared
Income Summary
Sales Returns and Allowances
Sales Discount
Purchases

14,060.00

0.00

0

0

0

5,619,052.00

5,619,052.00

0

5619052

14060

77,041.00

77041

14060

0

Purchase Rtns

0

77041

0

3947380

0

0.00

69,156.00

69,156.00

0

69,156.00

29,070.00

Advertising Expense

0

3947380

3,947,380.00

Purchase Disct
Freight In

0

0

Sales

29,070.00

22,820.00

22,820.00

7,678.00

0

29,070.00
22,820.00

7678

0

0.00

0

0

350.00

350

0

Sales Salaries Expense

148,990.00

148990

0

148990

0

Wages Expense
Freight-Out

121,246.00
19,490.00

121246
19490

0
0

121246
19490

0
0

2,650.00

2650

0

2650

0

0.00

0

0

0

0

5,620.00

5620

0

5620

0

0.00

0

0

0

0

Office Salaries Expense

712,416.00

712416

0

712416

0

Office Supplies Expense

1,608.00

1608

0

1608

0

0.00

0

0

0

Payroll Taxes Expense

85,801.00

85801

0

85801

Utilities Expense

16,669.00

Bad Debt Expense
Depreciation Expense-Trucks

Miscellaned Sellling Expense
Depreciation Expense-- Buildings
Depreciation Expense -- Off. Equipment
Insurance Expense

Rent Expense

7678

0

0

0

350

0

0
0

16669

0

16669

0

3,150.00

0

3,150.00

0

3150

0.00

0

0

0

0

24,570.00

24,570.00

0

24570

0

Loss on Plant Assets

500.00

0.00
500

0

0.00
500

0
0

Income Tax Expense

112,000.00

112000

0

112000

0

0

0

Interest Revenue
Gain on Plant Assets
Interest Expense

0.00

0
0

0
Totals

7,297,297.00

Income Tax Expense

0

0

0

7297297

7,295,477.00

7295477

5320889

5720428

0.00

0.00

Federal income Taxes Payable
12,900.00

7,310,197.00

14,720.00

Net Income

T otals

14,720.00

0.00

5320889

5720428

1976408

1575049

0

26,400
810
9,900
10,486
3,420
600
6,750
37,719
399
11,360
52,173
1,021
1,360
4,063
600
83,000

2,650
500
925
15,000
43,362
28,067
142
75
350
900
190
415
1,067
225
5,500

2,120
7196
1,517
360,262

361,922 **difference in Purchases discounts

363,582

361,922

26,400
10,000
10,700
6,750
38,100
52,700

43,800
100
214
381
527

438
810
4,860
600
399
9,573
1,787
1,021
1,360
5,770
6,100
83,000

2,650
500

925
15,000
16,000
22,900
142
75

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