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Dr Cr Dr Cr Dr Cr

Cash 231500 231500

Accounts Receivable 430000 430000

Notes Receivable 120000 120000

Allowance for Doubtful Accounts 14700 7810 22510

Merchandise Inventory 326000 175300 150700

Furniture and Fixtures 1080000 1080000

Accumulated Depreciation - FF 285000 9000 294000

Unexpired Insurance 30000 5000 25000

Unused Office Supplies 17700 3350 14350

Accounts Payable 78000 78000

Notes Payable 136000 136000

Common Stock, P100 par value 1000000 1000000

Retained Earnings 180000 180000

Sales 1580000 1580000

Sales Return and Allowance 18000 18000

Purchases 820000 820000

Transportation In 20000 20000

Advertising 15000 15000

Delivery Expenses 18000 18000

Office Salaries 102000 5500 107500

Rent Expense 40000 40000

Interest Expense 15000 4500 19500

Interest Income 9500 1750 7750

Totals 3283200 3283200

Deprecation Expense - FF 9000 9000

Doubtful Accounts Expense 7810 7810

Insurance Expense 5000 5000

Office Supplies 3350 3350

Accrued Salaries 5500 5500

Accrued Interest 4500 4500

Unearned Interest Income 1750 1750

Cost Of Goods Sold 1015300 1015300

Totals 1052210 1052210 3310010 3310010

Net Income

15-Apr-13Account TitleUnadjusted TB Adjustments

Adjusted TB

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Dr Cr Dr Cr

231500

430000

120000

22510

150700

1080000

294000

25000

14350

78000

136000

1000000

180000

1580000

18000

15000

18000

107500

40000

19500

7750

9000

7810

5000

3350

5500

4500

1750

1015300

1258460 1587750 2051550 1722260

329290 329290

1587750 1587750 2051550 2051550

Balance Sheet

for April 15, 2013 As of April 15, 2013

Income Statement

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Dr Cr Dr Cr Dr Cr

Cash 97300 60000

1320000

811100

211700

2500

Accounts Receivable 263000 1289600

1332100

Allowance for Doubtful Accounts 13160

Accrued Revenue Receivable 2000 2000

Merchandise Inventory 224000 827500

885900

9200

Prepaid Operating Expenses 18000 18000

Furniture and Equipment 243000

Accumulated Depreciation - FE 81000

Accounts Payable 126500 827500

820300

Notes Payable 20000

Accrued Operating Expenses 1000 1000

Capital Stock, P100 par value 500000 100000

Subscribed Capital Stock 100000 100000

Subscription Receivable 60000 60000

Retained Earnings 55640 30000

Premium on Capital Stock 10000

Total 907300 907300

Other Revenues 2000 2500

Operating Expenses 18000 1000 211700

Total 21000 21000

Dividends Payable 30000

Sales 1289600

Sales Discount 12100

Cost of Sales 885900

Total 5559600 5559600

Accrued Interest ExpenseDepreciation Expense

Doubtful Accounts Expense

Interest Expense

Total

Net Income 157516.25

Income Tax Payable 55130.6875

Income After Tax 102385.5625

Account Title Account Balances Reversing Transactions

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Cr

16353.75

88290

133700

20000

3500

600000

25640

10000

30000

600

928083.75

157516.25

1085600

Sheet

. 30, 2012

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Dr Cr Dr Cr Dr Cr Dr

Cash 126100 2315000 387500

1500 80000

29250 21000

1268500

2500

1540 710810

Accounts Receivable 452000 2334800

2500 2315000 474300

Allowance for Doubtful Accounts 22600

Accrued Other Income 1300 1300 0

Merchandise Inventory 280000 1456900 1736900

Prepaid Operating Expenses 6700 6700 0

Land 200000 200000

Building 1000000 1000000

Accumulated Depreciation - B 250000

Furniture & Equipment 360000 80000 440000

Accumulated Depreciation - F&E 120000

Accounts Payable 405600 1456900

124000

1268500

Unearned Other Income 1200 1200

Accrued Operating Expense 12700 12700

Capital Stock 1400000

Retained Earnings 214000

Total 2426100 2426100

Operating Expenses 6700 12700 387500 381500

Other Income 1300 1200 1500

Total 21900 21900

N otes Payable 124000

30000

Sales 2334800

Sales Returns 21000 21000

Interest Expense 750 750

Bank Service Charge 1540 1540Total 8023240 8023240 4966800

Prepaid Interest Expense

Accrued Interest Expense

Depreciation Expense

Doubtful Accounts Expense

Cost Of Goods Sold

Total

Net Income 463520

Income Tax Payable 162232

Income After Tax 301288

Account Title Account Balances Reversing Transactions Unadju

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Cr Dr Cr Dr Cr Dr Cr Dr Cr

710810 710810

474300 474300

22600 1115 23715 23715

1445200 291700 291700

24000 24000 24000

200000 200000

1000000 1000000

250000 25000 275000 275000

440000 440000

120000 20000 140000 140000

470000 470000 470000

0

0

1400000 1400000 1400000

214000 214000 214000

24000 357500 357500

1400 1400 1400

154000 154000 154000

2334800 2334800 2334800

21000 21000

1200 625 1325 1325

1540 15404966800

625 625 625

1200 1200 1200

45000 45000 45000

1115 1115 1115

1445200 1445200 1445200

1517140 1517140 5014115 5014115 1872680 2336200 3141435 2677915

463520 463520

2336200 2336200 3141435 3141435

Adjusted TB Income Statement Balance Sheet

30-Jun-12 For June 30, 2012 As of June 30, 2012Adjustmentssted TB

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Dr Cr Dr Cr Dr Cr

Cash 47300 65400

54600

74250

53900

9500

29700

20500

5540

26700 86910

Accounts Receivable 138500 73100

75000 136600

Allowance for Doubtful Accounts 3600 3600

Note Receivable 20000 20000

Merchandise Inventory 94600 94600

Store Furniture and Equipment 150000 150000

Accumulated Depreciation - SFE 40000 40000

Office Furniture and Equipment 110000 12000

13200 111200

Accumulated Depreciation - OFE 35000 300

8300 27000

Accounts Payable 132800 45100

55000 122900

Estimated Income Tax Payable 26700 26700

Capital Stock, P100 par value 250000 250000

Retained Earnings 36250 36250

Sales 437800 65400

73100 576300

Sales Returns and Allowances 2100 2100

Sales Discounts 2900 750 3650

Purchases 312300 54600

45100 412000

Purchase Returns and Allowamces 1500 1500

Purchase Discounts 2500 1100 3600

Freight In 1600 320 1920

Sales Salaries 18000 2220 20220

Office Salaries 15000 1400 16400

Rent - Store 10000 1250 11250

Rent - Office 8000 8000

Store Supplies 7100 7100

Office Supplies 3900 350 4250

Utility Expenses 6400 6400

Advertising 6000 6000

Insurance 4800 4800

Miscellaneous Marketing Expense 4100 4100

Miscellaneous Admin Expense 3700 3700

Interest Income 150 500 650Total 966300 966300

Depreciation Expense - OFE 300 300

Prepaid Interest Expense 300 300

Loans Payable 30000 30000

Total 472740 472740 1091800 1091800

Cost Of Goods Sold

Doubtful Accounts Expense

Depreciation Expense - SFE

Accrued Rent - Office

Accrued Utility Expense

Prepaid Insurance

Account Title Account Balance Transactions Unadjusted TB

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Prepaid Advertising

Prepaid Store Supplies

Prepaid Office Supplies

Interest Expense

Total

Net Income 99616

Income Tax Payable 34865.6

Net Income After Tax 64750.4

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Dr Cr Dr Cr Dr Cr Dr Cr

86910 86910

136600 136600

498 4098 4098

32100 126700 126700

150000 150000

5250 45250 45250

111200 111200

3496 30496 30496

122900 122900

250000 250000

36250 36250

576300 576300

2100 2100

3650 3650

412000 0

1500 0

3600 0

1920 0

20220 20220

16400 16400

11250 11250

1000 9000 9000

1300 5800 5800

850 3400 3400

1750

8150 0 0

4000 2000 2000

3600

1200 0 0

5610 9710 9710

3740 7440 7440

650 650

3496 3796 3796

100 200 200

30000 30000

376720 376720 376720

498 498 498

5250 5250 5250

1000 1000 1000

1750 1750 1750

3600 3600 3600

Income Statement Balance Sheet

15-Apr-13 for April 15, 2013 As of April 15, 2013

Adjusted TBAdjustments

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4000 4000 4000

1300 1300 1300

850 850 850

100 100 100

445114 445114 1098694 1098694 477334 576950 621360 521744

99616 99616

576950 576950 621360 621360