Scribd Logo
Upload

Welcome to Scribd!

  • 140 views

    Karkits Corporation Excel Copy Paste

    Uploaded by

    Coke Aidenry Saludo
    This document is the trial balance and related financial statements for Karkits Corporation for the year ended December 31, 2018. It shows account balances and adjustments to various income and expense accounts which resulted in a profit after interest and taxes of $3,340,351 and total assets of $22,308,650 equal to total liabilities and equity. Key figures include total sales of $31,589,000, cost of goods sold of $17,606,300, marketing and administrative expenses of $8,458,650, and income tax expense of $1,431,579 for the period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Karkits Corporation Excel Copy Paste

    Uploaded by

    Coke Aidenry Saludo
    140 views2 pages
    This document is the trial balance and related financial statements for Karkits Corporation for the year ended December 31, 2018. It shows account balances and adjustments to various income and expense accounts which resulted in a profit after interest and taxes of $3,340,351 and total assets of $22,308,650 equal to total liabilities and equity. Key figures include total sales of $31,589,000, cost of goods sold of $17,606,300, marketing and administrative expenses of $8,458,650, and income tax expense of $1,431,579 for the period.

    Original Title

    Karkits Corporation excel copy paste doc

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document is the trial balance and related financial statements for Karkits Corporation for the year ended December 31, 2018. It shows account balances and adjustments to various income and expense accounts which resulted in a profit after interest and taxes of $3,340,351 and total assets of $22,308,650 equal to total liabilities and equity. Key figures include total sales of $31,589,000, cost of goods sold of $17,606,300, marketing and administrative expenses of $8,458,650, and income tax expense of $1,431,579 for the period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    140 views2 pages

    Karkits Corporation Excel Copy Paste

    Uploaded by

    Coke Aidenry Saludo
    This document is the trial balance and related financial statements for Karkits Corporation for the year ended December 31, 2018. It shows account balances and adjustments to various income and expense accounts which resulted in a profit after interest and taxes of $3,340,351 and total assets of $22,308,650 equal to total liabilities and equity. Key figures include total sales of $31,589,000, cost of goods sold of $17,606,300, marketing and administrative expenses of $8,458,650, and income tax expense of $1,431,579 for the period.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Karkits Corporation

    Working Trial Balance


    For the year ended December 31, 2018

      Trial Balance Adjustments Profit or Loss Financial Position


      Debit Credit Debit Credit Debit Credit Debit Credit
    Petty Cash Fund 15,000 7,500 7,500
    Cash in Bank 243,600 88,300 35,000 296,900
    Trading Securities 330,000 20,000 350,000
    Accounts Receivable 3,544,000 35,000 821,000 2,758,000
    Allowance for Uncollectible Accounts 120,000 17,900 137,900
    Advances to Officers and Employees 0 123,000 123,000
    Inventories 4,398,900 578,000 4,976,900
    Prepaid Insurance 29,400 6,250 23,150
    Property, Plant, and Equipment, at cost 10,945,000 9,470,000 8,600,000 11,815,000
    Accumulated Depreciation 703,500 166,800 870,300
    Franchises 500,000 50,000 450,000
    Licensing Agreement 216,000 144,000 216,000 144,000
    Accounts Payable 2,141,550 161,000 223,650 2,204,200
    Interest Payable 0 380,000 380,000
    Accrued Expenses 598,020 140,800 738,820
    Unearned Revenues 0 130,000 130,000
    Income Taxes Payable 193,365 154,126 39,239
    Dividends Payable 1,250,000 1,250,000
    Current Portion of Long-term Debt 0 500,000 500,000
    Mortgage Payable 2,000,000 500,000 1,500,000
    Bonds Payable 2,000,000 2,000,000
    Discount on Bonds Payable 122,000 7,800 114,200
    Ordinary Share Capital 5,000,000 5,000,000
    Additional Paid in Capital 1,350,000 1,350,000
    Retained Earnings, January 1, 2018 2,867,840 2,867,840
    Sales 32,250,000 661,000 31,589,000
    Cost of Goods Sold 18,169,950 22,350 586,000 17,606,300
    Marketing and Administrative Expenses 8,900,400 458,250 900,000 8,458,650
    Other Income 180,000 160,000 20,000 40,000
    Interest Expense 404,320 387,800 792,120
    Income Tax Expense 1,585,705 154,126 1,431,579
    Dividends Declared 1,250,000 1,250,000
    TOTAL 50,654,275 50,654,275 12,962,826.00 12,962,826.00 28,288,649.00 31,629,000.00
    Profit After Interest and Income Tax 3,340,351.00 3,340,351.00
      31,629,000.00 31,629,000.00 22,308,650.00 22,308,650.00
                     

    You might also like