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Christine Sousa Bags

Worksheet
For the Year Ended December 31, 2019

Trial Balance Adjustments Income Statement Balance Sheet Post Closing Trial Balance
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash
Accounts Receivable
Merchandise Inventory
Office Supplies
Land
Prepaid Advertising
Office Building
Accu. Depreciation-Off. Bldg.
Office Equipment
Accu. Depreciation-Off. Equipt.
Accounts Payable
Mortgage Payable
Notes Payable due in 2 yrs.
Sousa, Capital
Sousa, Withdrawals
Sales
Sales Returns and Allow.
Sales Discounts
Purchases
Purchases Rets. & Allow.
Purchases Discounts
Transportation In
Insurance Expense
Salaries Expense
Travel Expense
Transportation Out
Interest Expense
Depreciation-Off. Bldg.
Depreciation-Off. Equipt.

Profit
Christine Sousa Bags Christine Sousa Bags
Income Statement Balance Sheet
For the Year Ended December 31, 2019 December 31, 2019.

Net Sales Assets


Gross Sales Current Assets
Less: Sales Returns and Allow. Cash
Sales Discounts Accounts Receivable
Net Sales Merchandise Inventory
Cost of Sales Office Supplies
Merchandise Inventory, 1/1/2019 Prepaid Advertising
Purchases Office Building
Less: Purchases Returns and Allow. Total Current Assets
Purchases Discounts Property and Equipment
Net Purchases Land
Tranportation In Office Building
Net Cost of Purchases 0 Less: Accu. Depreciation-Off. Bldg.
Goods Available for Sale 0 Office Equipment
Less: Merchandise Inventory, 12/31/2019 Less: Accu. Depreciation-Off. Equipt.
Cost of Sales Total Assets
Gross Profit
Operating Expenses Liabilities
Selling Expenses Current Liabilities
Accounts Payable
Mortgage Payable
Total Selling Expenses Total Current Liabilities
Administrative Expenses Non-Current Liabilities
Notes Payable due in 2 yrs.
Total Liabilities
Total Selling Expenses
Operating Profit Owner's Equity
Finance Costs Sousa, Capital, 12/31
Profit Total Liabilities and Owner's Equity
Christine Sousa Bags
Statement of Changes in Owner's Equity
For the Year Ended December 31, 2019

G. Detoya, Owner's Equity, 1/1/2019


Add: Profit
Total
Less: Withdrawals
G. Detoya, Owner's Equity, 12/31/2019

Christine Sousa Bags


Post-Closing Trial Balance
December 31, 2019.

Cash
Accounts Receivable
Merchandise Inventory
Office Supplies
Land
Prepaid Advertising
Office Building
Accu. Depreciation-Off. Bldg.
Office Equipment
Accu. Depreciation-Off. Equipt.
Accounts Payable
Mortgage Payable
Notes Payable due in 2 yrs.
Sousa, Capital
Sousa, Withdrawals
UTANA, SALVIE ANGELA CLARETTE P. BABA 1 H
Problem #3

Net Sales
Gross Sales
Less: Sales Returns and Allow. 45,000
Sales Discounts 15,000
Net Sales
Cost of Sales
Inventory, 1/1/2019
Purchases 985,000
Less: Purchases Returns and Allow. 31,000
Purchases Discounts 20,000
Net Purchases
Tranportation In 36,000
Net Cost of Purchases
Goods Available for Sale
Less: Inventory, 12/31/2019 260,000
Cost of Good Sold
Gross Margin from Sales 620,000
Operating Expenses
Profit

Victoriano Navarette Traders


Income Statement
For the Year Ended December 31, 2019

Net Sales
Gross Sales
Less: Sales Returns and Allow.
Sales Discounts
Net Sales
Cost of Sales
Merchandise Inventory, 1/1/2019
Purchases
Less: Purchases Returns and Allow.
Purchases Discounts
Net Purchases
Tranportation In
Net Cost of Purchases
Goods Available for Sale
Less: Merchandise Inventory, 12/31/2019
Cost of Sales
Gross Profit
Operating Expenses
Operating Profit
Finance Costs
Profit

Marissa Babilonia Health Store


Income Statement
For the Year Ended December 31, 2019

Net Sales
Gross Sales
Less: Sales Returns and Allow.
Sales Discounts
Net Sales
Cost of Sales
Merchandise Inventory, 1/1/2019
Purchases
Less: Purchases Returns and Allow.
Purchases Discounts
Net Purchases
Tranportation In
Net Cost of Purchases
Goods Available for Sale
Less: Merchandise Inventory, 12/31/2019
Cost of Sales
Gross Profit
Operating Expenses
Operating Profit
Finance Costs
Profit