Cr 172,000 124,000 Allowance for Doubtful Accounts Short Term Note Receivable 50

Question

Cr 172,000 124,000 Allowance for Doubtful Accounts Short Term Note Receivable 50,000 55,000 62,000 75,000 03 0 0 Interest Payable Unearned Revenue ST Note Payable IT !) ile5a@g:: Megs.ile 18.750 10 250,000 Premium on Bonds Payable cess of Par-CS_ 86,000 Paid In Capital In Excess of Par -PS 50,000 03 2,000443.910 Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sol 7,000 46,000 Bad 5,000 16,000 Rent Expense 98,000 25,000 16,000 Interest Revenue Interest Expense 1,000 6,500,000 46,000 ,056,000 1,056,000

Explanation / Answer

01-Dec-17 Building 300000            LT Mortgage payable 300000 25-Dec-17 Cash 6000           Common stock -1.25 par 1250 (1000*1.25)            Paid in capital in excess of par - CS 4750 29-Dec-17 Dividends 231000 (77000*3)            Dividend payable 231000 31-Dec-17 LT Mortgage payable 1800 Interest expense 2000 (300000*8%*1/12)            Cash 3800 31-Dec-17 Interest expense 250 (18750*8%*2/12)             Interest payable 250 31-Dec-17 Interest expense 22147 (276840*8%) Premium on bonds payable 2853               Interest payable 25000 (250000*10%) 31-Dec-17 Unearned revenue 10000                Sales revenue 10000 31-Dec-17 Treasury stock 550 (50*11)                Cash 550 Trial balance Cash 173650 Accounts receivable 124000 allowance for dobtful accounts 1000 Short term notes receivable 50000 Supplies 55000 Inventory 62000 Equipment 75000 Building 300000 Accumulated depreciation 32000 Copyrights 90000 Accounts payable 12000 Dividend payable 231000 Interest payable 25250 Unearned reveneu 10000 St notes payable 18750 LT mortgage payable 298200 Bonds payable 250000 Premium on bonds payable 23987 Common stoc 1.25 par 96250 Paid in capital in excess of par - cs 90750 Preferred stock $5 par 1000 Paid in capital in excess of par - PS 50000 Treasury stock 550 retained earnings 3500 Dividends 233000 Sales revenue 453910 Sales return and allowance 7000 Sales discount 3000 Cost of goods sold 46000 Bad debt expense 5000 Depreciation expense 16000 wages expense 157500 Rent expense 98000 Insurance expense 25000 Supplies expense 16000 Interst revenue 1000 Interest expense 30897 Gain on sale of equipment 15000 Income tax expense 46000 Total 1613597 1613597

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