Unadjusted Trial Balance Account Title Adjustments Adjusted Trial Balance 80,311

Question

Unadjusted Trial Balance Account Title Adjustments Adjusted Trial Balance 80,311.00 191,770.00 it $80,311.00 $ 191,770.00 as Accounts Receivable Allowance for bad debts Allowance for sales returns Inventory Estimated Returns Inventor 5,753 $2,110.00 S1,900.00 $ 248,868.00 $378,165.00 $80,605.00$297,560.00 $ 352,811.00 $ 10,500.00$ 2,100.00 s 12,350.00 $ 17,650.00 2,150.00 $ 16,150.00 $ 140,000.00 $ 997,100.00 $ 352,811.00 ul Prepaid Insurance Investments in Available for sale securities 12,600.00 30,000.00 140,000.00 997,100.00 $ 289,600.00 $ 14,130.00 $ 303,730.00 Accumulated Depreciation - Equip Defferred Tax Asset Accounts Payable Salaries Pavable $111,800.00 2,690.00 $ 105,843.00 S33,200.00 $ 111,800.00 d Liabillty 2,690.00 $ 105,843.00 S36,200.003,000.00 S 50,000.00 Deferred Rent Revenue Notes Payable Interest Payable Income taxes payable common stock Additional paid in capital Retained Earnings Accumulated Other Comprehensive Income Income Summary Dividends $240.00 $ 2,456,340.00 $2,456,340.00 $ 100,000.00 S59,000.00 $600,800.00 $600,800.00 (305.00) 1,200.00 1 1,505.00 75,000.00 S75,000.00 $ 4,410,136.00 $4,410,136.00 $27,000.00 $ 53,605.00 1,800.00 Sales Returns Cost of Goods Sold Sales Salaries Expense Advertising Expense Delivery Expense Depreciation expense equip Miscellaneous Selling expense Office Salaries Expense Rent Expense Insurance Expense Supplies Expense Bad debts expense Income taxes Expense Rent Revenue Interest Expen $ 106,200.00 $ 2,194,505.00 654,700.0 S 220,400.00 S 36,300.00 S43,730.00 $42,800.00 $ 409,290.00 $ 126,000.00 $12,350.00 $ 10,500.00 79,200.00 $2,140,900.00 652,900.00 $220,400.00 $ 14,130.00 29,600.00 42,800.00 890.00 $126,000.00 $ 12,350.00 10,500.00 $ 2,456,340.00 $3,000.00 $ 3,000.00 3,000.00 $5,373,146.00 5,373,146.00 $ 8,187,365.00 8,187,365.00 $ 2,938,459.00 2,938,459.00 Adjusted entries Totals Difference

Explanation / Answer

Closing Journal Entry Date Account Title Debit Credit 31-Dec-17 Sales    44,10,136 Sales Returns      1,06,200 Cost of Goods Sold    21,94,505 Sales Salaries Expenses      6,54,700 Advertising Expenses      2,20,400 Delivery Expenses          36,300 Depn Exp-Equip          43,730 Misc. Selling Exp          42,800 Office Salaries Exp      4,09,290 Rent Exp.      1,26,000 Insurance Exp          12,350 Supplies Exp          10,500 Bad Debts Exp            3,643 Income Tax Exp    24,56,340 Rent Revenue            3,000 Interest Expenses            3,240 Accumulated Other comp. Inc.             (305) Dividend          75,000 Retained Earning (Bal Fig.)    19,82,167 Please check Income tax exp should not be that much

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