Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013
Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013
Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013
Cash $ 2,929.00
A/R $ 675.00
Supplies $ 95.00
Equipment $ 1,550.00
A/P $ 76.00
Revenue $ 1,225.00
Revenue:
Revenue
Expense:
Total Expense
Net Income
r 31, 2013
$ 1,225.00
$736.00
$489.00
Cookie Creations
Statement of Owner's Equity
For the 2 months ended December 31, 2013
Less: Drawing
Current Assets:
Cash $ 2,929.00
A/R $ 675.00
Supplies $ 95.00
Equipment $ 1,550.00
Total Assets
Current Liabilities
A/P $ 76.00
Total Liabilities
$5,249.00
$302.00
$3,008.00
$3,310.00
$5,249.00
Working
Capital $3,497.00
Current
Ratio $18.30
Acid Test
Ratio 25.9
Closing
Entries:
Income Summary
Advertising Expense
Salaries Expense
Telephone Expense
Supplies Expense
Depreciation Expense
Interest Expense
Owners Captial
Credit
$1,225.00
$ 325.00
$ 48.00
$ 174.00
$ 103.00
$ 78.00
$ 8.00
$1,939.00
Post Closing Trial Balance
Debit Credit
Cash $ 2,929.00
A/R $ 675.00
Supplies $ 95.00
Equipment $ 1,550.00
A/P $ 76.00