Account | Debit (Dr) | Credit (Cr) |
---|---|---|
Incomes | ||
Sales | -- | 1000 |
Shipping and delivery income | -- | 1000 |
Expenses | ||
commission and fees | 100 | -- |
advertisinng | 100 | -- |
Net Operating Income | 1800 | -- |
Transferred to Balance sheet | 2000 | 2000 |
Assets | |
---|---|
Cash | 2000 |
Petty Cash | 100 |
Temporary investments | 10000 |
Accounts receivable - net | 40,500 |
Inventory | 31000 |
Supplies | 3800 |
Prepaid insurance | 1500 |
-- | -- |
-- | 88400 |
LIABILITIES | |
---|---|
Notes payable | 5000 |
Accounts payable | 35000 |
Wages payable | 8500 |
Interest payable | 2900 |
Taxes payable | 6100 |
Warranty liability | 1100 |
Unearned revenues | 1500 |
Net Income | 28300 |
---- | 88400 |