Homework SourseBig Data Company Adjusted Trial Balance December 31 2018 Pre
Big Data Company Adjusted Trial Balance December 31, 2018 Prepare Balance Sheet Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory $43,500.0 45,000.00 $3,100.00 18,600.00 1,500.00 2,000.00 75,000.00 650,000.00 Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Salaries Payable Notes Payable, due May.31, 2019 Mortgage Payable due Dec. 31, 2025 Common Stock Retained Earnings Dividends 340,000.00 160,000.00 42,400.00 22,500.00 1,200.00 25,000.00 128,000.00 250,000.00 272,000.00 35,000.00 197,000.00 4,300.00 Sales Returns & Allowances Sales Discounts Cost of Goods Sold Salaries Expense Depreciation Expense Freight Out Advertising Expense Utilities Expense Supplies Expense Bad Debt Expense Interest Revenue Gain on sale of Equipment Loss on sale of Building Interest Expense 118,000.00 30,000.00 14,000.00 800.00 3,000.00 2,400.00 1,800.00 2,600.00 700.00 2,000.00 3,500.00 1,200.00 Total:$1,443,900.00 $1,443,900.00
Solution
Working:
| Big Data Company | |||
| Balance Sheet | |||
| December 31, 2018 | |||
| Assets | |||
| Current assets: | |||
| Cash | 43500 | ||
| Accounts receivable | 45000 | ||
| Less: Allowance for doubtful accounts | -3100 | 41900 | |
| Merchandise inventory | 18600 | ||
| Supplies | 1500 | ||
| Prepaid insurance | 2000 | ||
| Total current assets | 107500 | ||
| Property, plant, and equipment | |||
| Land | 75000 | ||
| Buildings | 650000 | ||
| Less: Accumulated depreciation | -340000 | 310000 | |
| Equipment | 390000 | ||
| Less: Accumulated depreciation | -160000 | 230000 | |
| Total property, plant, and equipment | 615000 | ||
| Total assets | 722500 | ||
| Liabilities and Stockholders\' Equity | |||
| Current liabilities: | |||
| Accounts payable | 42400 | ||
| Unearned revenue | 22500 | ||
| Salaries payable | 1200 | ||
| Notes payable, due May 31, 2019 | 25000 | ||
| Total current liabilities | 91100 | ||
| Long-term liabilities: | |||
| Mortgage payable, due Dec. 31, 2025 | 128000 | ||
| Total liabilities | 219100 | ||
| Stockholders\' Equity: | |||
| Common stock | 250000 | ||
| Retained earnings | 253400 | ||
| Total stockholders\' equity | 503400 | ||
| Total liabilities and stockholders\' equity | 722500 |
