CIELO CORPORATIO

WORKING TRIAL BALA

FOR THE FISCAL YEAR ENDED SEP

Account Title Unadjusted Trial Balance Adjusting Entries

Debit Credit Debit
Cash 225,000.00
Accounts Receivable 936,000.00 15,000.00
Allowance for doubtful accounts 31,900.00
Notes Receivable 155,000.00
Merchandise Inventory, beg. 568,900.00
Furniture and equipment 618,000.00
Accumulated Depreciation 187,500.00 25,333.33
Goodwill 300,000.00
Accounts Payable 536,000.00
Notes Payable 100,000.00
Ordinary Share Capital 1,000,000.00
Retained earnings 552,500.00 300,000.00
Sales 3,728,200.00
Sales Returns and Allowances 47,600.00
Purchases 2,159,300.00 50,000.00
Purchases Returns and Allowances 36,500.00 36,500.00
Advertising Expense 96,100.00
Sales salaries 288,500.00
Commission expense 152,000.00
Miscellaneous selling expense 29,900.00
Rent expense 130,000.00
Office salaries 197,200.00
Light and Water 15,000.00
Insurance expense 10,800.00
Taxes and Licenses 47,800.00
General expenses 163,400.00
Interest expense 41,200.00
Interest income 9,100.00
6,181,700.00 6,181,700.00
Doubtful accounts expense 15,650.00
Cost of goods sold 2,120,500.00
Merchandise Inventory, end 621,200.00
Gain on sale of equipment
Depreciation expense 63,966.67
Prepaid Insurance 4,200.00
Prepaid Rent 10,000.00
Discount on Notes payable 11,000.00
3,273,350.00
Income before INCOME TAX

Income before INCOME TAX

Income before tax expense
Income tax payable
PROFIT

Adjusting Entries

Accounts Receivable 15000.00

Cash 15000.00

Doubtful accounts expense 15650.00

Allowance for doubtful accounts 15650.00

Purchases 50000.00
Accounts Payable 50000.00

COGS 2120500.00
Inv. End 621200.00
Purchases R&A 36500.00
Purchases 2209300.00
Inv. Beg 568900.00

Accum. Dep. - Equip. 25333.33

Gain on sale of Equip. 7000.00
Furniture and Equip. 18333.33

Depreciation exp. 63966.67 59966.67

Accum. Dep. 63966.67 4000.00

Prepaid Insurance 4200.00

Insurance Exp. 4200.00

Prepaid Rent 10000.00

Rent Exp. 10000.00

Discount on NP 11000.00
Int. Exp. 11000.00

Retained earnings 300000.00

Goodwill 300000.00
TOTAL 3273350.00 3273350.00
 CIELO CORPORATION
WORKING TRIAL BALANCE
CAL YEAR ENDED SEPTEMBER 30, 2016

Adjusting Entries Income Statement Balance Sheet

Credit Debit Credit Debit
15,000.00 210,000.00
951,000.00
15,650.00
155,000.00
568,900.00
18,333.33 599,666.67
63,966.67
300,000.00
50,000.00

3,728,200.00
47,600.00
2,209,300.00

96,100.00
288,500.00
152,000.00
29,900.00
10,000.00 120,000.00
197,200.00
15,000.00
4,200.00 6,600.00
47,800.00
163,400.00
11,000.00 30,200.00
9,100.00

15,650.00
2,120,500.00
621,200.00
7,000.00 7,000.00
63,966.67
4,200.00
10,000.00
11,000.00
3,273,350.00 3,394,416.67 3,744,300.00 2,562,066.67
 349,883.33
3,744,300.00 3,744,300.00

349,883.33
104,965.00

244,918.33
349,883.33 349,883.33 2,562,066.67
Balance Sheet
Credit

47,550.00

226,133.34

586,000.00
100,000.00
1,000,000.00
252,500.00

2,212,183.34
 104965.00
244,918.33
2,562,066.67