Liabilities Accounts Payable Common Stock Beg 4 4 610 Beg 250 000 31 Dec 220 0
Please check my adjusted trial balance at the end. Thanks, Jon
During 2018, the following occurred:
- Customer sales on account $400,000.
- Received payments from customers in cash $380,000.
- Purchased merchandise on credit $220,000.
- Paid cash to vendors $230,000.
- Costs related to merchandise sold $170,000.
- Operating expenses were paid in cash $80,000.
There is additional information to consider.
- A note payable for $46,200 was issued on June 30, 2018 and is due in two years on June 30, 2020. Interest in the amount of 10% is paid annually on June 30th.
- Depreciation on the plant assets for the year is $20,000.
- The original cost of the plant assets was $300,000.
As of December 31, 2018
- Attachment 1
- Attachment 2
- Attachment 3
- Attachment 4
- Attachment 5
- Attachment 6
Liabilities*Accounts payableCommon Stockbeg .4 4, 610beg .250, 00031 – Dec220, 00.031 – Dec230.0.0034, 616Ending250, 0.00Retained EarningsNotes payable*beg .24, 288beg .30 – Jun46, 200Ending24, 288Ending46, 200
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