2024 – Winterschild Company s Trial Balance at Dec 31 2010 Debit Credit Cash 28 000 Accounts receivable 36 800

Winterschild Company_Financial Statements – 2024

 

Winterschild Company’s Trial Balance at Dec. 31, 2010
  Debit Credit
Cash $28,000  
Accounts receivable $36,800  
Notes receivable $10,000  
Interest receivable $0  
Merchandize Inventory $36,000  
Prepaid insurance $3,800  
Land $20,000  
Buildings $1,50,000  
Equipment $60,000  
Patents $9,000  
Allowances for doubtful accounts   $500
Accumulated depreciation-Buildings   $50,000
Accumulated depreciation-Equipment   $24,000
Accounts payable   $27,300
Salaries and wages payable   $0
Unearned rent revenue   $6,000
Notes payable(short-term)   $11,000
Interest payable   $0
Notes payable (Long-term)   $35,000
Common stock   $1,13,600
Retained earnings   $20,000
Sales revenue   $8,80,000
Cost of goods sold $6,30,000  
Income Tax Expense $12,000  
Other Operating Expenses $61,800 $0
Salaries Expense $1,10,000 $0
  $11,67,400 $11,67,400
Instructions:    
Prepare an income statement    
Prepare a stockholder’s equity statement    
Prepare a balance sheet    

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