View the step-by-step solution to:

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

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 ü
ü
ü
ü
ü 4,860 732
216
214 ü
ü
ü 399
9,573
1,787 ü
ü
ü
ü
ü
ü
ü
ü 1,021
1,360
5,770 83,000 516
125
643
214
216
218
151
201/16
330 2,650 649 ü 2,650 610 ü 500 ü 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 ü 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 ü 15,000 627
727
214
216
218 ü
ü
ü
ü
ü 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

This question was asked on Jan 15, 2012.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards