ACCOUNT TITLES UNADJUSTED ADJUSTMENTS ADJUSTED TRIAL INCOME BALANCE SHEET

TRIAL BALANCE BALANCE STATEMENT

DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
CASH ON HAND 295,000 295,000 295,000
PETTY CASH FUND 1,000 1,000 1,000
ACCOUNTS RECEIVABLE 50,000 50,000 50,000
ESTIMATED UNCOLLECTIBLE 1,000 B. 900 1,900 1,900
ACCOUNTS
MERCHANDISE INVENTORY 125,000 125,000 125,000
FURNITURE AND FIXTURE 175,000 175,000 175,000
ACCUMULATED DEPRECIATION 23,000 C. 35,000 58,000 58,000
ACCOUNTS PAYABLE 20,000 20,000 20,000
C. CARPESO, CAPITAL 1,183,700 1,183,700 1,183,700
C. CARPESO, DRAWING 2,000 2,000 2,000
SALES 1,430,000 1,430,000 1,430,000
SALES RETURN AND ALLOWANCES 1,500 1,500 1,500
PURCHASES 1,630,000 1,630,000 1,630,000
FREIGHT-IN 800 800 800
PURCHASE RETURN AND ALLOWANCES 1,600 1,600 1,600
SALARIES AND WAGES 240,000 240,000 240,000
TAXES AND LICENSES 14,000 14,000 14,000
RENTAL EXPENSE 110,000 E. 10,000 120,000 120,000
INSURANCE EXPENSE 15,000 ________ D. 12,000 3,000 3,000
TOTAL 2,659,300 2,659,300
MERCHANDISE INVENTORY, END 985,000 985,000
UNCOLLECTIBLE ACCOUNTS B. 900 B. 900 B. 900
DEPRECIATION EXPENSE C. 35,000 C. 35,000 C. 35,000
PREPAID INSURANCE D. 12,000 D. 12,000 D. 12,000
RENT PAYABLE ________ E. 10,000 ________ E. 10,000 ________ ________ ________ E. 10,000
TOTAL 57,900 57,900 2,705,200 2,705,200 2,170,200 1,273,600
246,400 246,400
2,416,600 2,416,600 1,520,000 1,520,000
Samar Traders
Worksheet
December 31, 20B