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CIELO CORPORATION

WORKING TRIAL BALANCE


FOR THE YEAR ENDED SEPTEMBER 30,2014

ACCOUNTS PER BOOK PER AUDIT


CASH 225,000
ACCOUNTS RECEIVABLE 936,000
ALLOWANCE FOR DOUBTFUL ACCOUNTS 31,900
NOTES RECIEVABLE 155,000
MERCHANDISE INVENTORY 568,900
FURNITURE AND EQUIPMENT 618,000
ACCUMULATED DEPRECIATION 187,500
GOODWILL 300,000

ACCOUNTS PAYABLE 536,000


NOTES PAYABLE 100,000
COMMON STOCK 1,000,000
RETAINED EARNINGS 552,500

SALES 3,728,200
SALES SALES RETURNS AND ALLOWANCES 47,600
PURCHASES 2,159,300
PURCHASES RETURNS AND ALLOWANCE 36,500
ADVERTISING EXPENSE 96,100
SALES SALARIES 288,500
COMMISSION EXPENSE 152,000
MISCELLANEOUS EXPENSE 29,900
RENT EXPENSE 130,000
OFFICE SALARIES 197,200
LIGHT AND WATER 15,000
INSURANCE EXPENSE 10,800
TAXES AND LICENSES 47,800
GENERAL EXPENSE 163,400
INTEREST EXPENSE 41,200
INTEREST INCOME 9,100
6,181,700 6,181,700
AUDITED BALANCES PROFIT/LOSS BALANCE SHEET
ADJUSTMENTS

1.) ACCOUNTS RECEIVABLE 15,000


CASH 15,000
TO RECORD RETURNED CHECK

2.) BAD DEBT EXPENSE 14,900


AFDA 14,900
TO RECORD THE SHOULD BE AMOUNT OF AFDA

3.) MI, BEG 601,200


MI, END 601,200
TO RECORD PROPER MERCHANDISE INVENTORY RECORD

4.) MERCHANDISE INVENTORY 50,000


ACCOUNTS PAYABLE 50,000
TO RECORD LIABILITY

MI,END 551,200
PURCHASES 50,000
MI, BEG 601,200
TO RECORD PURCHASE

5.) G

7.) CASH 35,000


EQUIPMENT 32,000
GAIN ON SALE ON EQUIPMENT 3,000
TO RECORD SALE OF EQUIPMENT

8.) DEPRECIATION EXPENSE 61,800


ACCUMULATED DEPRECIATION 61,800
TO RECORD DEPRECIATION FOR THE FISCAL YEAR

9.) PREPAID INSURANCE 4,200


INSURANCE EXPENSE 4,200
TO RECORD INSURANCE EXPENSE

10.)
SS
ACCOUNTS RECEIVABLE 936,000
MULTIPLY 0.05
REQ. AFDA 46800
AFDA BEFORE ADJ. 31,900
AFDA 14,900

INSURANCE PREMIUM 8,400


MULTIPLY BY: 6
DIVIDE BY: 12
4200

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