Tools Table Window Help Instructions for 2018 Financial Statements Mailings Revi

Question

Tools Table Window Help Instructions for 2018 Financial Statements Mailings Review View a8bCDdEeAaBbCcDdEe AaBbCcD AaBbCcDdE Normal No SpacingHeading 1 2 The adjusted trial balance of Coastal Carolina Corporation at December 31, 2018 are shown as follows Coastal Carolina Corporation Adjusted Trial Balance December 31,2018 Account Title Debit Credit Accounts Payable Accounts Receivable Accumulated Bonds Payable (due in 2020) Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends Equipment Interest Expense Interest Payable Inventory Land 75,000 150,000 ciation 30,000 90,000 85,000 30,000 280,000 17,000 20,000 170,000 3,000 5,000 61,000 100,000 Notes Payable (18 months) Paid-in Capital in Excess of par-Common Patents, net of amortization Prepaid Rent Rent Expense Retained Earnings, January 1, 2018 Salaries Expense Sales Revenue Utilities Expense Wages Payable Total 105,000 145,000 40,000 4,000 55,000 ?! 30,000 600,000 20,000 130,000 15,000 S1130,000 24

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Question 3

Income Statement Sales Revenue        6,00,000 Less: Cost of Goods Sold       -2,80,000 Gross Profit        3,20,000 Less: Salaries Expense       -1,30,000 Rent Expense          -55,000 Utilities Expense          -15,000 Depreciation Expense          -17,000 Operating Profit/ Earnings before interest & tax        1,03,000 Less: Interest Expense            -3,000 Net Earnings before Diidend        1,00,000

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