ABC Merchandising

Trial Balance
For the year ended December 31, 2020
Debit Credit
Cash 1,217,250.61
Accounts Receivable 485,626.31
Prepaid Rent 36,000.00
Merchandise Inventory, Beg. 60,279.00
Supplies 24,536.89
Building 298,720.00
Accumulated Depreciation 29,872.00
Land 349,861.00
Accounts Payable 351,693.10
Loans Payable 256,983.20
ABC, Capital 800,000.00
ABC, Withdrawals 50,000.00
Sales 1,693,256.50
Sales Returns and Allowances 26,689.30
Sales Discounts 98,536.26
Purchases 359,637.64
Purchases Returns and Allowances 12,159.00
Purchases Discounts 54,259.70
Freight In 45,697.00
Utilities Expense 42,579.10
Salaries Expense 179,563.11
Freight Out 36,298.00
Miscellaneous Expense 4,563.00
Total 3,257,030.36 3,257,030.36
ABC Merchandising
Worksheet
For the year ended December 31, 2020

Unadjusted Trial Balance Adjustments

Account titles Debit Credit Debit Credit
Cash 72,000.00
Accounts Receivable 136,000.00
Inventory 598,000.00
Office supplies 42,000.00 17,000.00
Prepaid advertising 75,000.00 25,000.00
Office building 1,600,000.00
AD-office bldg 100,000.00 15,000.00
Office equipment 570,000.00
AD-office equipt 150,000.00 20,000.00
Land 400,000.00
Accounts payable 74,000.00
Salaries Payable 21,000.00
Mortgage Payable 1,100,000.00
Notes Payable 200,000.00
Capital 1,510,000.00
Withdrawals 200,000.00
Sales 4,600,000.00
Sales disc 161,000.00
S R&A 187,000.00
Purchases 2,643,000.00
T-in 72,000.00
Purchases disc 172,000.00
P R&A 133,000.00
Salaries expense 862,000.00 21,000.00
Travel Expense 188,000.00
Insurance Expense 25,000.00
Interest Expense 208,000.00
Advert Expense 25,000.00
Office supplies expense 17,000.00
DE-office bldg 15,000.00
DE-office equipt 20,000.00
Total 8,039,000.00 8,039,000.00 98,000.00 98,000.00
Total
Net Profit (Loss)
 Adjusted Trial balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit
72,000.00 72,000.00
136,000.00 136,000.00
598,000.00 598,000.00 723,000.00 723,000.00
25,000.00 25,000.00
50,000.00 50,000.00
1,600,000.00 1,600,000.00
115,000.00 115,000.00
570,000.00 570,000.00
170,000.00 170,000.00
400,000.00 400,000.00
74,000.00 74,000.00
21,000.00 21,000.00
1,100,000.00 1,100,000.00
200,000.00 200,000.00
1,510,000.00 1,510,000.00
200,000.00 200,000.00
4,600,000.00 4,600,000.00
161,000.00 161,000.00
187,000.00 187,000.00
2,643,000.00 2,643,000.00
72,000.00 72,000.00
172,000.00 172,000.00
133,000.00 133,000.00
883,000.00 883,000.00
188,000.00 188,000.00
25,000.00 25,000.00
208,000.00 208,000.00
25,000.00 25,000.00
17,000.00 17,000.00
15,000.00 15,000.00
20,000.00 20,000.00
8,095,000.00 8,095,000.00 5,042,000.00 5,628,000.00 3,776,000.00 3,190,000.00
586,000.00 586,000.00
5,628,000.00 5,628,000.00 3,776,000.00 3,776,000.00