ABC Company

Worksheet
For the Year Ended December 31, 2019
2019 2019 2019 2019
Ref. no. Account Titles Beginning Balances Transactions & Adjusments Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit
100 Cash 160,000.00 320,000.00 160,000.00
105 Accounts Receivable 45,000.00 245,000.00 245,000.00
110 Allowance for Doubtful Accounts 5,000.00 25,000.00 300,000.00 300,000.00
115 Inventory 15,000.00 1,515,000.00 1,515,000.00
125 Prepaid Insurance 6,000.00 12,000.00 -12,000.00
130 Land 100,000.00 100,000.00 100,000.00
131 Building 200,000.00 200,000.00 0.00
136 Accumulated Depreciation 60,000.00 60,000.00 60,000.00
140 Accounts Payable 30,000.00 230,000.00 0.00
141 Notes Payable 50,000.00 50,000.00 50,000.00
200 Shapy, Capital 381,000.00 381,000.00 381,000.00
220 Prepaid Expenses 100,000.00 -100,000.00
233 Equipment 50,000.00 0.00
230 Salaries Expenses 100,000.00 0.00
231 Utilities Expenses 30,000.00 0.00
210 Shapy, Withdrawal 60,000.00 -60,000.00
300 Sales 3,100,000.00 0.00
301 Bad Debt Expenses 20,000.00 50,000.00
400 Cost of Goods Sold 1,100,000.00 0.00
402 Insurance Expense 18,000.00 18,000.00
420 Depreciation Expense-Building 20,000.00 20,000.00
430 Accumulated Depreciation-Building 20,000.00
431 Interest Receivable 8,000.00
435 Interest Income 8,000.00 0.00
TOTAL 526,000.00 526,000.00 3,886,000.00 3,886,000.00 38,000.00 300,000.00 2,358,000.00 331,000.00
NET INCOME 262,000.00 262,000.00
300,000.00 300,000.00 2,358,000.00 593,000.00