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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