MY COMPANY

Unadjusted Trial Balance

December 31, 2018

Debit Credit
Cash 25,000
Accounts receivable 185,000
Allowance for doubtful accounts 500
Unused supplies 2,000
Office equipment 60,000
Accumulated depreciation - OE 9,000
Accounts payable 40,000
Notes payable 80,000
MY, Capital 100,000
MY, Drawing 5,000
Sales 300,000
Sales returns 10,000
Sales discounts 2,500
Purchases 250,000
Purchase returns 20,000
Purchase discounts 5,000
Freight in 5,000
Freight out 10,000
554,500 554,500
 MY COMPANY
Worksheet
For the Period Ended Decemb

Unadjusted
Account Trial Balance Adjustments
Debit Credit Debit
Cash 25,000
Accounts receivable 185,000
Allowance for doubtful accounts 500
Unused supplies 2,000
Office equipment 60,000
Accumulated depreciation - OE 9,000
Accounts payable 40,000
Notes payable 80,000
MY, Capital 100,000
MY, Drawing 5,000
Sales 300,000
Sales returns 10,000
Sales discounts 2,500
Purchases 250,000
Purchase returns 20,000
Purchase discounts 5,000
Freight in 5,000
Freight out 10,000
Total 554,500 554,500
Adjustments
Doubtful accounts expense 1,350
Supplies expense 1,800
Depreciation expense 12,000
Interest expense 1,600
Accrued interest payable
Merchandise inventory, end 20,000
Income summary
Total 36,750
Net income
Totals
 MY COMPANY
Worksheet
For the Period Ended December 31, 2018

Adjusted
Adjustments Trial Balance Income Statement
Credit Debit Credit Debit Credit
25,000
185,000
1,350 1,850
1,800 200
60,000
12,000 21,000
40,000
80,000
100,000
5,000
300,000 300,000
10,000 10,000
2,500 2,500
250,000 250,000
20,000 20,000
5,000 5,000
5,000 5,000
10,000 10,000

1,350 1,350
1,800 1,800
12,000 12,000
1,600 1,600
1,600 1,600
20,000
20,000 20,000 20,000
36,750 589,450 589,450 294,250 345,000
50,750
345,000
 Balance Sheet
Debit Credit
25,000
185,000
(1,850)
200
60,000
(21,000)
40,000
80,000
100,000
(5,000)

1,600
20,000

267,350 216,600
50,750
267,350
 2018
Dec. 31 Doubtful accounts expense 1,350
Allowance for doubtful accounts 1,350

31 Supplies expense 1,800

Unused supplies 1,800

31 Depreciation expense 12,000

Accumulated depreciation - OE 12,000

31 Interest expense 1,600

Accrued interest payable 1,600

31 Merchandise inventory 20,000

Income summary 20,000

2018
Dec. 31 Sales 300,000
Income summary 300,000

31 Income summary 249,250

Sales returns 10,000
Sales discounts 2,500
Cost of goods sold 205,000
Doubtful accounts expense 1,350
Supplies expense 1,800
Depreciation expense 12,000
Interest expense 1,600
Freight in 5,000
Freight out 10,000

31 Income summary 50,650

My, Capital 50,650

31 Income summary 50,750

Retained earnings 50,750
 MY COMPANY
Multi-step Income Statement
For the Year Ended December 31, 2018

Sales 300,000
Less: Sales returns 10,000
Sales discounts 2,500 12,500
Net sales 287,500
Cost of goods sold 205,000
Gross profit 82,500

Operating expenses:
Distribution costs
Supplies expense 1,800
Freight in 5,000
Freight out 10,000 16,800
Administrative expenses
Depreciation expense - Office equipment 12,000
Doubtful accounts expense 1,350 13,350
Total operating expenses 30,150

Non-operating expenses:
Interest expense 1,600
Net income 50,750
 MY COMPANY
Multi-step Income Statement
For the Year Ended December 31, 2
Assets
Current assets
Cash 25,000
Accounts receivable 185,000
Allowance for doubtful accounts (1,850)
Merchandise inventory 20,000
Unused office supplies 200
Total current assets 228,350

Noncurrent assets
Office equipment 60,000
Accumulated depreciation - OE (21,000)
Total noncurrent assets 39,000

Total assets 267,350

 MY COMPANY
Multi-step Income Statement
or the Year Ended December 31, 2018
Liabilities and Equity
Current liabilties
Accounts payable 40,000
Notes payable 80,000
Accrued interest payable 1,600
Total current liabilities 121,600

Equity
MY, Capital 100,000
MY, Drawing (5,000)
Retained earnings 50,750
Total equity 145,750

Total liabilities and equity 267,350