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LAHAT 10 ENTERPRISES

Worksheet
For the year ended Dec. 31, 2016

Adjusted
Trial Balance Adjustment Trial Balance Income Statement Balance Sheet
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
Cash on Hand 60,000.00 60,000.00 60,000.00
Accounts Receivable 40,000.00 40,000.00 40,000.00
Inventory, Jan. 1 50,000.00 50,000.00 50,000.00
Prepaid Insurance 5,000.00 2,500.00 2,500.00 2,500.00
Land 100,000.00 100,000.00 100,000.00
Building 100,000.00 100,000.00 100,000.00
Accumulated Depreciation - Building 30,000.00 10,000.00 40,000.00 40,000.00
Machine & Equipment 20,000.00 20,000.00 20,000.00
Accumulated Depreciation - Machine & Equipment 6,000.00 4,000.00 10,000.00 10,000.00
Accounts Payable 20,000.00 20,000.00 20,000.00
Allepo, Capital 285,400.00 285,400.00 285,400.00
Sales 250,000.00 250,000.00 250,000.00
Sales Discount 3,000.00 3,000.00 3,000.00
Sales Returns & Allowances 2,000.00 2,000.00 2,000.00
Purchases 150,000.00 150,000.00 150,000.00
Purchases Discount 1,000.00 1,000.00 1,000.00
Purchases Returns & Allowances 2,000.00 2,000.00 2,000.00
Freight-in 1,500.00 1,500.00 1,500.00
Advertising Expense 2,000.00 2,000.00 2,000.00
Salaries Expense 60,000.00 5,000.00 65,000.00 65,000.00
Delivery Expense 1,000.00 1,000.00 1,000.00
Interest Expense 500.00 500.00 500.00
Interest Income 600.00 600.00 600.00
595,000.00 595,000.00
Depreciation Expense 14,000.00 14,000.00 14,000.00
Salaries Payable 5,000.00 5,000.00 5,000.00
Insurance Expense 2,500.00 2,500.00 2,500.00
Inventory, Dec. 31 50,000.00 50,000.00
21,500.00 21,500.00 614,000.00 614,000.00 291,500.00 303,600.00 372,500.00 360,400.00
Net Income 12,100.00 12,100.00
Totals 303,600.00 303,600.00 372,500.00 372,500.00
LAHAT 10 ENTERPRISES
Worksheet
For the year ended Dec. 31, 2016

Sales 250,000.00
Sales Discount 3,000.00
Sales Returns & Allowances 2,000.00
245,000.00

Inventory, Jan. 1 50,000.00


Purchases Discount 1,000.00
Purchases Returns & Allowances 2,000.00 3,000.00
53,000.00
Purchases 150,000.00
Freight-in 1,500.00
151,500.00
Inventory, Dec. 31 50,000.00
201,500.00 148,500.00

Advertising Expense 2,000.00


Salaries Expense 65,000.00
Delivery Expense 1,000.00
Interest Expense 500.00
Depreciation Expense 14,000.00
Insurance Expense 2,500.00
85,000.00
11,500.00
Interest Income 600.00

Net Income 12,100.00


LAHAT 10 ENTERPRISES
Worksheet
For the year ended Dec. 31, 2016

Assets

Current Assets:
Cash on Hand 60,000.00
Accounts Receivable 40,000.00
Inventory, Dec. 31 50,000.00
Prepaid Insurance 2,500.00
Land 100,000.00
Building 100,000.00
352,500.00

Property & Equipment:

Machine & Equipment 20,000.00


Accumulated Depreciation - Machine & Equipment 10,000.00
###

362,500.00

Liabilities & Capital

Liabilities:

Accumulated Depreciation - Building 40,000.00


Accounts Payable 20,000.00
60,000.00
Capital:
Allepo, Capital 285,400.00
Salaries Payable 5,000.00
290,400.00
Net Income 12,100.00

Total Liabilities & Capital 362,500.00

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