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ASSETS

101
102
103
104
105
106
107
108
109
110
111

cash - Sun United Bank


cash - Super Bank
petty cash
marketable securities
account receivable
allowance for uncollectible accounts
inventory
inventory on consignment
prepaid insurance
prepaid advertising
prepaid rent

MARKRICH SPORTSWORLD INC.


TRIAL BALANCE - BALANCE SHEET
DECEMBER 31, 19X2
REFERENCE
FINAL
PER BOOKS
12-31-19X1
12-31-19X2
A, A-5
20,540
31,900
A, A-7
A, A-9
200
200
B
12,000
18,000
C
129,500
172,840
C
(5,000)
(1,400)
D
375,000
492,345
D
7,655
E, E-4
1,260
1,260
E, E-3
600
600
E, E-5
-

112 receivable from officer

BOD'S meeting

202
203
204
205
206
207
208

F
F
F
F
F
F
F

land
building
accumulated depreciation - building
furnitures and fixtures
accumulated depreciation - furnitures and fixtures
automobiles and truck
accumulated depreciation - automobiles and trucks
TOTAL ASSETS

42,000
400,000
(9,000)
25,500
(5,100)
20,000
(4,500)
1,003,000

ADJUSTMENT
DEBET
CREDIT

RECLASSIFATION
DEBET
CREDIT

1,080
(200)

1,100
(5,794)

600
1,000

4,000

FINAL
12-31-19X2
31,900
200
19,080
175,740
(6,994)
492,345
7,655
660
600
1,000

5,000

5,000

42,000
400,000
(18,000)
27,217
(9,023)
31,950
(6,294)
1,196,250

42,000
400,000
(18,000)
27,817
(9,073)
31,950
(6,294)
1,195,586

600
(50)

MARKRICH SPORTSWORLD, INC


COMPARATIVE ASSETS
PER AUDIT 19X1 ; 19X2
In Dollar ammount
NO.
EXPLAINATION
Current Assets :
101 Cash - Sun United Bank
102 Cash - Super Bank
103 Petty Cash
104 Marketable Securities
105 Account Receivable
106 Allowance For Uncollectible Accounts
107 Inventory
108 Inventory On Consignment
109 Prepaid Insurance
110 Prepaid Advertising
111 Prepaid Rent
112 Receivable From Officer
Non Current Assets :
202 Land
203 Building
204 Accumulated Depreciation - Building
205 Furnitures And Fixtures
206 Accumulated Depreciation - Furnitures And Fixtures
207 Automobiles And Truck
208 Accumulated Depreciation - Automobiles And Trucks
Total Assets

Ref.
A, A-5
A, A-7
A, A-9
B
C
C
D
D
E, E-4
E, E-3
E, E-5
BOD'S meeting
F
F
F
F
F
F
F

19X1
20,540
200
12,000
129,500
(5,000)
375,000
1,260
600

42,000
400,000
(9,000)
25,500
(5,100)
20,000
(4,500)
1,003,000

19X2
31,900
200
19,080
175,740
(6,994)
492,345
7,655
660
600
1,000
5,000
42,000
400,000
(18,000)
27,817
(9,073)
31,950
(6,294)
1,195,586

Increase/(decrease)

PERCENT

11,360
7,080
46,240
(1,994)
117,345
7,655
(600)
1,000
5,000

55%
0%
59%
36%
40%
31%
-48%
0%
-

(9,000)
2,317
(3,973)
11,950
(1,794)
192,586

0%
0%
100%
9%
78%
60%
40%
19%

Penggunaan

Penggunaan
Penggunaan
Penggunaan
Penggunaan
Penggunaan
Penggunaan
Penggunaan
Penggunaan

Sumber
Sumber
Sumber
Sumber
Sumber

LIABILITIES AND EQUITY


301
302
303
304
305
306
307
308
309
310

vouchers payable
notes payable - current
property taxes payable
salaries and wages payable
accrued payroll taxes
sales taxes payable
state income taxes payable
federal income taxes payable
interest payable
devidends payable

401 notes payable - long term

MARKRICH SPORTSWORLD INC.


TRIAL BALANCE - BALANCE SHEET
DECEMBER 31, 19X2
REFERENCE
FINAL
PER BOOKS
12-31-19X1
12-31-19X2
G
91,168
176,157
I
90,000
H-3
3,680
H-2
1,152
2,160
H-2
5,900
5,738
H-4
2,600
2,945
H, H-5
4,000
4,000
H, H-5
10,000
12,000
H, H-7
49,500
41,250
H-6
12,000
I

total liabilities

450,000

450,000

708,000

706,250

60,000
210,000
25,000

100,000
350,000
25,000
(12,000)

ADJUSTMENT
DEBET
CREDIT
2,100

1,052
5,811

owners' equity
501
502
601
602
603
604

common stock
paid-in capital
retained earnings
devidends
Unrealized Gain or loss for revaluation investment
Current earnings
Total equity
Total liabilities and equity

J
J
J
J
B
TB-3

27,000
295,000
1,003,000

1,196,250

1,080
981

RECLASSIFATION
DEBET
CREDIT
4,000
90,000

90,000

FINAL
12-31-19X2
182,257
90,000
2,160
5,738
2,945
2,948
6,189
41,250
12,000
360,000
705,487

100,000
350,000
25,000
(12,000)
1,080
26,019
490,099
1,195,586

MARKRICH SPORTSWORLD, INC


COMPARATIVE LIABILITIES and EQUITY
PER BOOK 19X1 ; 19X2
In Dollar ammount
NO.
301
302
303
304
305
306
307
308
309
310
401

501
502
601
602
603
604

EXPLAINATION
Current Liabilities :
Vouchers Payable
Notes Payable - Current
Property Taxes Payable
Salaries And Wages Payable
Accrued Payroll Taxes
Sales Taxes Payable
State Income Taxes Payable
Federal Income Taxes Payable
Interest Payable
Devidends Payable
Non - Current Liabilities :
Notes Payable - Long Term
Total Liabilities
Owners' Equity
Common Stock
Paid-In Capital
Retained Earnings
Devidends
Unrealized Gain Or Loss For Revaluation Investment
Current Earnings
Total Equity
TOTAL LIABILITIES and EQUITY

Ref.
G
I
H-3
H-2
H-2
H-4
H, H-5
H, H-5
H, H-7
H-6

19X1

19X2

Increase/( decrease )

91,168
90,000
3,680
1,152
5,900
2,600
4,000
10,000
49,500

182,257
90,000
2,160
5,738
2,945
2,948
6,189
41,250
12,000

91,089
(3,680)
1,008
(162)
345
(1,052)
(3,811)
(8,250)
12,000

450,000
708,000

360,000
705,487

(90,000)
(2,513)

J
J
J
J
B
TB-3

60,000
210,000
25,000

100,000
350,000
25,000
(12,000)
1,080
26,019
490,099
1,195,586

40,000
140,000
(12,000)
1,080
26,019
195,099
192,586

295,000
1,003,000

PERCENT
100%
0%
-100%
88%
-3%
13%
-26%
-38%
-17%
-20%
0%
67%
67%
0%
66%
19%

Sumber
Penggunaan
Sumber
Penggunaan
Sumber
Penggunaan
Penggunaan
Penggunaan
Sumber

MARKRICH SPORTSWORLD INC.


TRIAL BALANCE - INCOME STATEMENT
YEAR ENDED DECEMBER 31, 19X2
REVENUES
701
702
703
704

801
802
803
804
805
806
807
808
809
810
811
812
813
814
815
816
817

retail sales
sales return and allowance - retail
wholesale sales
sales return and allowance - wholesale
net revenues
expenses
advertising
cost of sales - retail
cost of sales - wholesale
delivery
depreciation
insurance
miscellneous
payroll taxes
professional fees
property taxes
rent
repairs and maintanance
salaries
supplies
uncollectible accounts
utilities
wages
operating expenses

REFERENCE
L-12
L-12
L-12, C-6
L-12

FINAL
12-31-19X1
623,180
(7,500)
250,000
(9,500)
856,180

PER BOOKS
12-31-19X2
810,600
(8,000)
296,756
(12,500)
1,086,856

6,014
297,860
96,280
11,804
18,600
3,180
1,200
21,821
14,800
6,325

6,000
414,100
115,000
17,200
19,047
3,240
5,590
31,872
15,800
3,600
6,300
1,200
256,000
800

600
213,000
700
5,000
6,200
64,896
768,280

7,100
97,344
1,000,193

interest expense
(gain)/loss on disposal of investment
income from investment
(gain)/loss on fixed assets disposals
Total Other expenses

49,500

45,750

earnings before taxes

39,000

43,000

905 federal income taxes


906 state income taxes
Total income tax

10,000
4,000
14,000

12,000
4,000
16,000

earnings after tax

25,000

27,000

901
902
903
904

ADJUSTMENT
DEBET
CREDIT

RECLASSIFICATION
DEBET
CREDIT

900

700
400

6,700
414,500
###
###
19,097
3,840
9,500
###
###
###
5,300
900
###
###
5,794
7,800
###
1,011,047

50
600
3,910

300

1,000
600

5,794
700

(3,910)
(600)

(2,140)
53

48,900

FINAL
12-31-19X2
###
###
295,856
###
1,085,956

###
###
(2,140)
###
39,753
35,156

5,811
1,052

6,189
2,948
9,137
26,019

to TB 2

MARKRICH SPORTSWORLD, INC


COMPARATIVE REVENUES and EXPENSES
PER AUDIT 19X1 ; 19X2
in Dollar ammount
NO.
EXPLAINATION
Revenues ( operations ) :
701 Retail Sales
702 Sales Return And Allowance - Retail
703 Wholesale Sales
704 Sales Return And Allowance - Wholesale
Net Revenues

801
802
803
804
805
806
807
808
809
810
811
812
813
814
815
816
817

901
902
903
904

Expenses ( operations ) :
Advertising
Cost Of Sales - Retail
Cost Of Sales - Wholesale
Delivery
Depreciation
Insurance
Miscellneous
Payroll Taxes
Professional Fees
Property Taxes
Rent
Repairs And Maintanance
Salaries
Supplies
Uncollectible Accounts
Utilities
Wages
Operating Expense
Revenues ( others ) and Expenses ( others ) :
Interest Expense
(Gain)/Loss On Disposal Of Investment
Income From Investment
(Gain)/Loss On Fixed Assets Disposals
Total Revenues ( others ) and Expenses ( others )

Ref.
L-12
L-12
L-12, C-6
L-12

19X1

19X2

623,180
(7,500)
250,000
(9,500)
856,180

810,600
(8,000)
295,856
(12,500)
1,085,956

6,014
297,860
96,280
11,804
18,600
3,180
1,200
21,821
14,800
6,325

6,700
414,500
115,000
17,200
19,097
3,840
9,500
31,872
15,800
3,600
5,300
900
256,000
800
5,794
7,800
97,344
1,011,047

600
213,000
700
5,000
6,200
64,896
768,280
49,500

48,900

45,750
(3,910)
(2,140)
53
39,753

Earnings Before Taxes

39,000

35,156

905 Federal Income Taxes


906 State Income Taxes
Total Income Tax

10,000
4,000
14,000

6,189
2,948
9,137

Earnings After Tax

25,000

26,019

(600)

Increase/( decrease )

PERCENT

187,420
(500)
45,856
(3,000)
229,776

30%
7%
18%
32%
27%

686
116,640
18,720
5,396
497
660
8,300
10,051
1,000
(2,725)
5,300
300
43,000
100
794
1,600
32,448
242,767

11%
39%
19%
46%
3%
21%
692%
46%
7%
-43%
50%
20%
14%
16%
26%
50%
32%

(3,750)
(3,910)
(1,540)
53
(9,147)

-8%
257%
-

(3,844)

-10%

(3,811)
(1,052)
(4,863)

-38%
-26%
-35%

1,019

4%

MARKRICH SPORTSWORLD, INC.


Income Statements
Year Ended December 31, 19X1
Net sales

1,085,956

Cost of sales
Administrative expenses
Marketing expenses
Depreciation
Other income and Expenses-net

$
$
$
$
$

529,500
376,193
86,257
19,097
39,753

1,050,800

$
$

35,156
9,137

26,019

Net Income per share on common stock

28

NOTES
Other Operating Expenses
Insurance Expense
Payroll Expense
Rent Expense
Repairs and Maintenance expense
Supplies Expense
Utilities Expense
Wages Expense
Total
70% allocated to administrativ expense
30% allocated to marketing expense

$
$
$
$
$
$
$
$
$
$

3,840
31,872
5,300
900
800
7,800
97,344
147,856
103,499
44,357

Marketing expense
Advertising Expense
Delivery Expense
Sales manager salaries
30% allocated from other expense
Total

$
$
$
$
$

6,700
17,200
18,000
44,357
86,257

Adminstratif expense
Miscellaneous Expense
Professional Fees Expense

$
$

9,500
15,800

Operating and other expenses


Income before tax
Federal and state income taxes
Net income

Property Taxes Expense


Salaries Expense
Uncollectible Accounts Expense
70% allocated from other expense
Total

$
$
$
$
$

3,600
238,000
5,794
103,499
376,193

MARKRICH SPORTSWORLD, INC.


Statement of Changes in Financial Position
Year ended December 31, 19X2
Source of Financing:
Net Income
Add Depreciation
Net from operations
Issuance long term debt
Issuance common stock
Total Issuance
Total Financial resources provided
Applications of financing :
Acquisition of Investment
Acquisition of property, plant, and equipment
Current portion of notes payable
Increase in Working capital
Total Financial resources applied

$
$
$

26,019
19,097
45,116

$
$
$

450,000
450,000
900,000

945,116

$
$
$
$
$

501,167
90,000
395,693
986,860

$
$
$
$
$
$

32,100
19,080
175,740
500,000
2,260
729,180

$
$
$
$
$
$

182,257
90,000
41,250
9,137
10,843
333,487

395,693

Composition of working capital


Current Assets
Cash
Marketable Securities
Account receivable (net)
Inventory
Prepaid expenses

Current Liabilities
Account payable
Current portion of notes payable
Interest payable
Income taxes payable
Accrued liabilities

Increase in working capital