Unadjusted Trial Balance Adjustment

Account
Debit Credit Debit
Cash 15,000,000
Account Receivable 60,000,000
Merchandise Inventory 100,000,000
Account Payable 23,000,000
Share Capital 22,000,000
Dividen 18,000,000
Sales Revenue 720,000,000
Sales Return & Allowances 14,000,000
Sales Discount 6,000,000
Purchase 520,000,000
Purchase Return & Allowances 5,000,000
Purchase Discount 25,000,000
Freight in 10,000,000
Other Revenue 10,000,000
Salaries Expense 24,000,000
Rent Expense 27,000,000
Freight out 6,000,000
Miscellaneous Expense 5,000,000
Total 805,000,000 805,000,000
Income Summary 100,000,000
Total
Net Income

Cost of Merchandise Sold

Merchandise Inventory 1 Jan 100,000,000
Purchase 520,000,000
Purchase Discount - 25,000,000
Purchase Return & Allowances - 5,000,000
Net Purchase 490,000,000
Freight in 10,000,000
Cost of merchandise purchased 500,000,000
Cost of merchandise available for sale 600,000,000
Merchandis Inventory 31 Des - 75,000,000
Cost of Merchandise Sold 525,000,000

Income Statement
Sales Revenue 720,000,000.00
Sales Return & Allowances - 14,000,000.00
Sales Discount - 6,000,000.00
Net Sales 700,000,000.00
Cost of Merchandise Sold - 525,000,000.00
Gross Profit 175,000,000.00
Other Revenue 10,000,000.00
Salaries Expense - 24,000,000.00
Rent Expense - 27,000,000.00
Freight out - 6,000,000.00
Miscellaneous Expense - 5,000,000.00
Net Income 123,000,000.00

Statement of Changes in Owners Equity

Share Capital 22,000,000.00
Net Income 123,000,000.00
145,000,000.00
Dividend - 18,000,000.00
Share Capital Dec 31 127,000,000.00

Statement of Financial Position

AKTIVA PASSIVA
Cash 15,000,000.00 Account Payable 23,000,000.00
Account Receivable 60,000,000.00 Share Capital 127,000,000.00
Merchandise Inventory 75,000,000.00
150,000,000.00 150,000,000.00

Closing Entries
Sales Revenue 720,000,000.00
Other Revenue 10,000,000.00
Income Summary 730,000,000.00

Income Summary 20,000,000.00

Sales Return & Allowances 14,000,000.00
Sales Discount 6,000,000.00

Income Summary 525,000,000.00

Cost of Merchandise Sold 525,000,000.00

Income Summary 62,000,000.00

Salaries Expense 24,000,000.00
Rent Expense 27,000,000.00
Freight Out 6,000,000.00
Miscellaneous Expense 5,000,000.00

Share Capital 18,000,000.00

Dividend 18,000,000.00

Income Summary 123,000,000.00

Share Capital 123,000,000.00
Adjustment Adjusted Trial Balance Income Statement
Credit Debit Credit Debit Credit
15,000,000
60,000,000
25,000,000 75,000,000
23,000,000
22,000,000
18,000,000
720,000,000 720,000,000
14,000,000 14,000,000
6,000,000 6,000,000
520,000,000 520,000,000
5,000,000 5,000,000
25,000,000 25,000,000
10,000,000 10,000,000
10,000,000 10,000,000
24,000,000 24,000,000
27,000,000 27,000,000
6,000,000 6,000,000
5,000,000 5,000,000

75,000,000 100,000,000 75,000,000 100,000,000 75,000,000

880,000,000 880,000,000 712,000,000 835,000,000
123,000,000
Statement of Financial Position
Debit Credit
15,000,000
60,000,000
75,000,000
23,000,000
22,000,000
18,000,000

168,000,000 45,000,000
123,000,000