NET INCOME 275,000 net income 59,200

DEPRECIATION 40,000 depreciation 12,600

AMORTIZATION 9,000 amortization 1,900
324,000 73,700
28,000 gain on sale of land (5,300)
352,000 68,400
50,000 a/r (7,400)
402,000 accounts payable 4,500
inventory 3,700
deferred taxes payable 5,000
salaries payable 2,300
76,500
net income 98,000
depreciation 58,000
156,000
a/r 14,000
inventory (3,000)
prepaid expenses 7,000
accrued liabilities 15,000
taxes payable (13,000)
176,000
C
D
B
A
B
B
D

B
A
D
C
A
C
C
D
D
A
 warranty expense repair cost
2021 12,000 7,000 15% 12,600,000 6,500,000
2022 14,500 7000 15% 15,225,000 12,500,000
27,825,000

21,325,000
8,825,000

IE
1/1/2021 160,442
12/31/2021 65,894 94,548
12/31/2022 48,037
12/31/2023 17,857
warranty liability
6,100,000

658,940
carrying amount, beg

1,000 19,000 19,000,000

500 17500 8,750,000
250 17500 4,375,000
32,125,000
 FV OF NEW LIABILITY
PRINCIPAL
INTEREST

OLD LIABILITY

DIVIDENDS PAID
ISSUANCE OF COMMON STOCK FOR CASH 1,600,000
ISSUANCE OF PREFERENCE SHAARE FOR LAND
PAYMENT OF BANK LOAN -1,560,000
ISSUANCE OF PROMISSORY NOTE FOR CASH 1,000,000
F NEW LIABILITY
5,145,000
2,317,000 7,462,000 596,960

8,640,000
BIOLOGICAL ASSETS PPE AGRICULTURE PRODUCE INVENTORY
timber trees coffee plants harvested coffee beans processed fruits
maize plants mango trees harvest mangoes logs
pig oil palm felled trees palm oil
apple tree grape vines harvested latex wooden furniture
sheep wool roasted peanuts
picked fruit
milk cheese
 A B TOTAL
SALARY 100,000 0 100,000
BONUS 0
REMAINDER -90,000 -90,000 -180,000
TOTAL 10,000 (90,000) -80,000
B CAPITAL

A B TOTAL 500,000 0.25

SALARY 100,000 100,000 600,000 0.25
BONUS 90,000 90,000 400,000 0.08
INTEREST 78,000 78,000 800,000 0.25
REMAINDER 366,000 366,000 732,000 1,100,000 0.08
TOTAL 556,000 444,000 1,000,000
1,000,000
125,000
150,000
33,333
200,000
91,667
650,000
 TRIAL BALANCE UNADJUSTED TRIAL BALANCE
DEBIT CREDIT DEBIT CREDIT
Cash 191,000 60,000
Accounts Receivable 615,000
Allowance for doubtful accounts 21,000 9,750
Inventory, Dec 21, 2021 584,000 584,000
Prepaid expenses 8,000 1,200
Investments 110,000 30,000
Furniture and Fixtures 312,000
Miscellaneous Equipment 90,000
Accumulated Depreciation 76,400 39,200
Accounts Payable 543,000 50,000
Accrued expenses 51,000 3,000
Unearned rent income 12,800 2,800
Ordinary share capital 600,000
Retained earnings 182,800
Sales 3,500,000
Rent income 48,000 2,800
Purchases 2,424,000 50,000 2,474,000
Salaries expense 400,000
Advertising expense 124,000
Commission expense 80,000
Utilities expense 32,000
Supplies expense 12,000
Transportation expense 14,000
Repairs and maintenance 16,000
Miscellaneous expenses 23,000 3,000
5,035,000 5,035,000

Equipment Acquisition Fund 60,000

Doubtful account expense 9,750
Inventory, Dec 31, 2022 600,000
COGS 2,458,000
Treasury shares 30,000
Depreciation expense 39,200
Insurance expense 1,200
3,253,950 3,253,950
ADJUSTED TRIAL BALANCE BALANCE SHEET INCOME STATEMENT
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
131,000 131,000
615,000 615,000
30,750 30,750
0 0
6,800 6,800
80,000 80,000
312,000 312,000
90,000 90,000
115,600 115,600
593,000 593,000
54,000 54,000
10,000 10,000
600,000 600,000
182,800 182,800
3,500,000 3,500,000
50,800 50,800
-
400,000 400,000
124,000 124,000
80,000 80,000
32,000 32,000
12,000 12,000
14,000 14,000
16,000 16,000
26,000 26,000

60,000 60,000
9,750 9,750
600,000 600,000
2,458,000 2,458,000
30,000 30,000
39,200 39,200
1,200 1,200
5,136,950 5,136,950 1,924,800 1,586,150 3,212,150 3,550,800
sheep 50,000 BA
rubber products 10,000 INV
trees in a timber plantation 95,000 BA
maize plants 40,000 BA
lumber 62,000 INV
pigs 200,000 BA
roasted peanuts 20,000 INV
wool 6,000 AP
thread 3,000 INV
felled trees 8,000 AP
clothing 150,000 INV
milk 9,000 AP
carcass 7,000 AP
sugar 67,000 INV 4,000,000
cotton plants 10,000 BA
peanut plants 5,000 BA
sugarcane 25,000 BA
tobacco plants 45,000 BA
tea bushes 800,000 PPE
dairy cattle 1,000,000 BA
fruit trees 600,000 PPE
tea 43,000 INV
rubber trees 300,000 PPE
yarn 22,000 INV
carpet 33,000 INV
logs 45,000 INV
wheat plants 60,000 BA
cheese 75,000 INV
sausages 88,000 INV
harvested cotton 13,000 AP
harvested peanuts 140,000 AP
harvested cane 22,000 AP
picked leaves 3,000 AP
oil palms 300,000 PPE
picked grapes 2,000 AP
picked fruit 10,000 AP
grape vines 2,000,000 PPE
havrvested latex 10,000 AP
cured tobacco 320,000 INV
wine 500,000 INV
processed fruit 20,000 INV
palm oil 50,000 INV
bean plants 20,000 BA
cured hams 92,000 INV

agriculture
ppe 900,000
agricultural produce 230,000
inventory 1,600,000
 NICK JOE MIKE TOTAL
SALARY 25,000 15,000 35,000 75,000
INTEREST 18,000 31,500 16,200 65,700
BONUS 5,000 5,000
RESIDUAL 1,075 1,935 1,290 4,300
44,075 48,435 57,490 150,000