A9EBDACC-F73E-4588-AF5D-CAC9ADAF146A
A9EBDACC-F73E-4588-AF5D-CAC9ADAF146A
A9EBDACC-F73E-4588-AF5D-CAC9ADAF146A
Inventory 1,800
Land 5,000
Gain on Sale of
Land 2,800
20- Accounts
Dec Receivable 4,000
Inventory 2,400
21-
Dec Accounts Payable 360
Inventory 360
27-
Dec Inventory 1,250
Cash 1,250
28-
Dec Accounts Payable 1,100
Cash 1,100
31-
Dec Land 6,000
Cash 1,000
31,010 31,010
Cash Accounts Receivable
1- 1- 14-
Dec 3,090 27-Dec 1,250 Dec 9,900 Dec 900
4- 20-
Dec 3,000 28-Dec 1,100 Dec 4,000
14-
Dec 900 31-Dec 1,000
18-
Dec 7,800
13,00
11,440 0
Inventory Land
1- 1- 18-
Dec 17,750 4-Dec 1,800 Dec 9,000 Dec 5,000
7- 31-
Dec 2,400 20-Dec 2,400 Dec 6,000
27-
Dec 1,250 21-Dec 360
10,00
16,840 0
21- 10,70
Dec 360 1-Dec 0 1-Dec
28- 31-
Dec 1,100 7-Dec 2,400 Dec 5,000
$ $
11,640 5,000
69,70 1- 36,86
1-Dec 0 Dec 0
4-
4-Dec 3,000 Dec 1,800
20-
20-Dec 4,000 Dec 2,400
$
41,06
76,700 0
18-Dec 2,800
$
2,800
Trial Balance
Account Titles Debit
11,4
Cash 40
13,0
Accounts Receivable 00
Accumulated Depreciation
Accounts Payable
Notes Payable
Davis Company
Income Statement
For the twelve-month period ended December 31st, 2016
$
Sales Revenue 76,700
$
Gain on Sale of Land 2,800
-$
Cost of Goods Sold 41,060
$
Gross Profit 38,440
Operating Expenses:
$
Advertising Expenses 8,100
$
Depreciation Expenses 2,100
$
Supplies Expenses 770
$
Bad Debt Expenses 830
$
Total Operating Expenses 11,800
Administrative Expenses:
$
Salaries Expenses: 13,700
$
Other Expenses: 7,032
$
Total Administrative Expenses 20,732
$
Total Operating Expenses 32,532
$
Net Income 5,908
Davis Company
Balance Sheet
December 31st, 2016
Assets
Current Assets:
Cash: $ 11,440
Accounts Receivable: $ 13,000
Less: Allowance for doubtful accounts -$ 930 $ 12,070
Inventory $ 16,840
Supplies $
630
Total Current Assets: $ 40,980
Noncurrent Assets:
Property, Plant & Equipment:
Land $ 10,000
Buildings & Equipment $ 42,000
Less: Acc. Depreciation -$ 6,300 $ 35,700
Total Assets: $ 86,680
Referencia: