Smile Co.
WORKSHEET
FOR TH E YEAR ENDED DEC. 31, 2018
TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT STATEMENT OF FINANCIAL POSITION
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
Cash 134,150 134,150
Accounts Receivable 162,750 - 162,750
Allow for Bad Debts 3,000 15,156 18,156
Inventory 181,700 105,000 181,700 105,000
Store Supplies 1,890 1,340 550
Office Supplies 1,500 1,100 400
Prepaid Insurance 12,000 6,000 6,000
Store Equipment 25,500 25,500 -
Accum. Depr'n.-Store Equipt. 12,750 5,100 17,850
Office Equipment 28,300 28,300 -
Accum. Depr'n.-Office Equipt. 14,150 5,660 19,810
Accounts Payable 51,650 51,650
Mortgage Payable-due 2019 125,000 125,000
Smile, Capital 402,110 - 402,110
Smile, Drawing 10,000 10,000 -
Income Summary 181,700 105,000 181,700 105,000
Sales 757,800 - 757,800
Sales Returns & Allow 13,300 13,300 -
Sales Discounts 12,000 12,000 -
Purchases 451,800 451,800 -
Purchases Ret. & Allow 12,150 12,150
Purchase Discounts 5,930 5,930
Freight In 12,000 12,000 -
Sales Salaries Expense 161,150 5,500 166,650
Rent Expense-Selling 56,000 56,000
Advertising Expense 26,400 26,400
Misc. Selling Expense 11,960 11,960
Office Salaries Expense 51,500 2,500 54,000
Rent Expense-Administrative 18,000 18,000
Misc. Administrataive Expense 11,440 11,440
Interest Expense 12,000 12,000
Gain - Disposal of Plant Assets 10,800 - 10,800
Total 1,395,340 1,395,340
Insurance Expense-Selling 3,600 3,600
Insurance Expense-Admin 2,400 2,400
Store Supplies Expense 1,340 1,340
Office Supplies Expense 1,100 1,100
Depr,n. Expense-Store Equipt. 5,100 5,100
Depr,n. Expense-Office Equipt. 5,660 5,660
Bad Debts 15,156 15,156
Salaries Payable 8,000 - 8,000
329,056 329,056 1,061,606 891,680 472,650 642,576
Loss for the period 169,926 169,926
1,061,606 1,061,606 642,576 642,576
