Sheet1Pretax IncomeYang, Ziyun make sure to add back income t.docx

Sheet1Pretax Income
Yang, Ziyun: make sure to add back income tax paid through
Nov. See account 999 Nov balance.
Subject to State Taxes- 0State Tax- 0Subject to Fed Taxes
Yang, Ziyun: State Taxes can be deducted from Fed taxable
income
- 0Progressive ratefirst 50,000 @15%7,500next 25,000 @
25%6,250remainder @ 34%(25,500)Fed Tax(11,750)Federal
Surtax
Yang, Ziyun: 5% on income over $100,000, surtax not to exceed
$11,750
- 0
Yang, Ziyun: Updated in V2
Total Fed Tax(11,750)Total Income Tax(11,750)Less: Income
Taxes Paid
Yang, Ziyun: Paid taxes through Nov. See account 999 Nov
balance.
72,000Tax accrual
Yang, Ziyun: debit exp, credit payable
(83,750)
Sheet2
Sheet3
Research question
Human factors for changes in natural geology
Ivan Tai

Humans as major geological and geomorphological agents in the
Anthropocene: the significance of artificial ground in Great
Britain
Since the first prehistoric people started to dig for stone to
make implements, rather than pick up loose material, humans
have modified the landscape through excavation of rock and
soil, generation of waste and creation of artificial ground. In
Great Britain over the past 200 years, people have excavated,
moved and built up the equivalent of at least six times the
volume of Ben Nevis.
Simon J. Price
, Jonathan R. Ford
, Anthony H. Cooper
and Catherine Neal
Published:13 March 2011
2
Why I choose this research question?
Because human The natural changes are very large, from
climate change to changes in topographical attitudes.
InstructionNarrative and InstructionsRockford Corporation is a
wholesale plumbing supply distributor. The corporation was
organized in 1981, under the laws of the State of Illinois, with
an authorized capitalization of 100,000 sharesof no-par common
stock with a stated value of $16 per share. The common stock is

sold over thethe counter in the local area. You have been hired
as of Thursday, December 25, 2018, to replace thecontroller,
who has resigned. As controller, you are responsible for the
corporation's accountingrecrods, preparation of the financial
statements, safeguarding the corporate assets, and
providingmanagement with financial information to set prices
and to monitor and control operations. Rockford Corporation
closes its books annually on December 31 but prepares financial
statementsquarterly. Adjusting entries are posted to the general
ledger only at year-end; at the end of the first, second, and third
quarter the adjustments are entered only on a work sheet, not in
the generalledger. Therefore, the adjusting entries to be
recorded on December 31 are annual adjustments that you must
journalize and the post to the general ledger accounts before
preparing the financial statements.Rockford Corporation
maintains a perpetual inventory system and takes a physical
count each yearto adjust the inventory carrying amount.
Purchases are recorded at the gross amount (discountstaken are
recognized at the date of payment) of the supplier's invoice, and
the terms vary witheach supplier. Sales on account are subject
to terms of 2/10, n/30. Discounts are taken and grantedonly
when the terms are met. The cost of all inventory sold in
December was 60% of the sales price.The corporation uses the
following journals and ledgers:Journals1. A sales journal (S) -
to record sales of merchandise on account.2. A purchase journal
(P)- to record purchases of merchandise on account.3. A cash
receipts journal (CR) - to record all cash receipts.4. A cash
disbursements journal (CD) - to record all cash payments.5. A
general journal (J) - to record all transacitons that cannot be
recorded in the other journals.Ledgers1. A general ledger2. An
accounts receivable subsidiary ledger.3. An accounts payable
subsidiary ledger.In recording sales transactions, each sale
should be posted on the day of the sale directly to thecustomer's
account in the subsidiary ledger, using the invoice number as
the posting reference number in the subsidiary account. Also,
cash receipts from customers should be posted to the subsidiary

ledger on the day they are received. The purchase order number
should be used as the posting reference number in the
subsidiary ledger for purchases on account from
suppliers.Purchases from suppliers and payments to them should
be posted daily. All other individual postingmay be made
weekly or at the month-end. Account numbers should be used as
posting reference numbers in the journals. Officers and office
personnel are salaried employees and are paid monthly on the
last day of each month. The delivery truck drivers and
warehouse employees are hourly wage employees and are paid
biweekly. Each biweekly pay period ends Friday. On the
following Monday you assistants provide you with a payroll
summary from which you prepare general journal entries to
record the biweekly payroll and the employer's taxes on the
payroll. The biweekly employees' paychecks are distributed on
the following day (Tuesday).The January 1, 2018, balances
appear in the general ledger accounts as well as the Noverber
30, 2018, balances, for those accounts whose balances have
changed. All transacitons affecting the non-current accounts
from January 1, 2018, through Noverber 30, 2018, with
explanations, appear inthese accounts to facilitate the
preparation of the statement of cash flows.Subsidiary ledger
account balances as of Noverber 30, 2018, are as
follows:Accounts ReceivableAcct NoAmountBoecker Builders
11772,420The Potts Company12242,300Swanson Brothers
Contruction13328,750A & B Hardware143- 0Trudy's
Plumbing15513,500Coconino Contractors Inc16031,700Rankin
Plumbing Corp16676,350Beverly's Building
Products17512,800Bilder Construction Co18068,900Iwanaga
Plumbing and Heating1904,800Total 351,520Accounts
PayableAcct NoAmountPhoenix Plastics1418,280Business
Basics Inc16- 0Edward's Plumbing Suppliers 1820,050DeKalb
Transport20- 0Oxenford Copperworks3531,700Smith Pipe
Co3935,000Ron & Rod's Plumbing Products4414,850Khatan
Steel Corp5718,000Total137,880The transactions through
December 23 have already been recorded by the former

controller. Youare to begin your work by entering the
transaction of December 25 for the payment of cash to
repurchase stock.Dec-
18SMTWTFS12345678910111213141516171819202122232425
262728293031December TransactionsDecember1Received a
check in the amount of $28,175 from Swanson Brothers
Contruction in fullpayment of invoice No. 1120 dated
Novermber 26 in the amount of $28,750.1Sold sewer and
drainage pipe to Beverly's Building Products on account,
invoice No. 1201for $25050.2Purchased copper tubing and
fittings from Edward's Plumbing Supplies Inc. on
account,purchase order No. 315 for $35880, terms n/60.2Issued
check No. 1580 for $31700 to Oxenford Copperworks in
settlement of thebalance owned on purchase order No. 280.3A
court notice indicates that Iwanaga Plumbing and Heating is
bankrupt and paymentof its account improbable; the president
orders the account to be written off as abad debt (invoice No.
780).3Sold bathroom fixtures to Bilder Construction Co on
account, invoice No. 1202 for $42720.4Received a check in the
amount of $41454 from the Potts Co in full payment of
invoiceNo. 1128 dated November 27 for $42300.4Sold plumbing
supplies and plastic pipe to Coconino Contractors Inc. on
account, invoice No. 1203 for $11200.4Issued check No. 1581
for $1120 to Standard Oil Co, in payment of gas, oil, and truck
repairfrom Tierney's Standard Service.5Issued check No. 1582
for $17820 to Khatan Steel Corp. in full settlement of purchase
orderNo. 312 for $18000.5Issued check No. 1583 for $12,054 to
Phoenix Plastics in full payment of Phoenix's invoicedated
November 28 in the amount of $12,300, for purchase order No.
313, terms 2/10, n/30.5Received a check in the amount of
$74823 from Rankin Plumbing Corp. in full paymentof invoice
No. 1129 dated November 28 for $76350.8Sold cast pipe to
Trudy's Plumbing on account, invoice No. 1204 for
$23100.8Received a check in the amount of $31700 from
Coconion Contractors, Inc. in full paymentof invoice No. 1091
dated October 20.8Purchased bathroom fixtures from Phoenix

Plastics, on account, purchcase order No. 316for $51900 terms
3/10, n/30.8Received a check in the amount of $39100 from
Boecker Builders in partial payment ofbalance outstanding
covering invoice Nos. 1050 and 1071.9Issued check No. 1585
for $790 to Scooter Gordon for lettering and sign painting on
somedelivery trucks.9Issued check No. 1586 for $5980 to
Phoenix Plastics, in payment of Phoenix's invoice
datedNovember 12 in the amount of $5980, our purchase order
No. 299.10Issued check No. 1587 for $34300 to Smith Pipe Co
in full payment of their invoice dated November 28, terms 2/15,
n/30, our purchase order No. 314.10Received a check in the
amount of $13500 from Trudy's Plumbing in full settlement of
invoice No. 1106 dated November 7.10Sold pipe, fixtures, and
accessories to Trudy's Plumbing on account, invoice No. 1205
for$33850.11The payroll summary for the biweekly pay period
ended Friday, December 5 contained the follwing
information:Delivery and warehouse wages 5,890FICA taxes
withheld450Federal income taxes withheld1,472State income
taxes withheld471Net pay3,497Employer's payroll taxes:FICA
tax450Federal unemployment tax- 0State unemployment tax-
0Issued check No. 1584 for the amount of the net pay and
deposited it in the payroll bankaccount. Individual payroll
checks were then preppared for distributions to the
biweeklyemplyees on Tuesday, December 11, 2018.11Sold
pumbing supplies and copper tubing to The Potts Company on
account, invoice No.1206 for $51450.11Received a check in the
amount of $33,320 from Boecker Builders in full payment of
invoiceNo. 1071.11Cash sales to date totaled
$15258.12Received a check in the amount of $22638 from
Trudy's Plumbing in payment of inoivceNo. 1204.12Sold
plumbing fixtures and supplies to Boecker Builders, on account,
invoice No. 1207for $24,730.15The Potts Co returned defective
copper tubing that is purchased on December 11. A creditmemo
in the amount of $5145 is issued relative to invoice No. 1206.
The copper tubinghad a cost of $3087.15The defective copper
tubing is returned to Edward's Plumbing supplies, Inc. along

witha debit memo in the amount of $3087 in reduction of
purchase order No. 315.15Issud check No. 1588 for $599 in
payment of November telephone bill to NorthernIllinois
Communications.16Issued check No. 1589 in the amount of
$12,360 in payment of federal withholding taxes, $10,573, and
FICA taxes, $1787, payable on November salaries and wages;
The check isremitted to the Winnebago County Bank as the
depository.16Issued check No. 1590 for $50,343 to Phoenix
Plastics, Inc, in payment of purchase orderNo. 316.17The
president informs you that Bilder Construction Co agrees to
convert the $68900overdue account receivable (invoice No.
1120) to a 6% note due six months from today.17Purchased
plumbing materials from Smith Pipe Company on account,
purcase order No. 317 for $,55,120 terms 2/15, n/60.17Sold
drain tile, plastic pipe, and copper tubing to A & B Hardware on
account, invoice No.1208 for $8,340.18Sold fixtures and
materials to Coconino Contractors, Inc. on account, invoice No.
1209 for$47,930.18An invoice in the amount of $1,021 was
received from S. White Trucking Company forfreight on
purchase order No. 317 and paid by issuing check No.
1591.18Received a check in the amount of $33,173 from
Trudy's Plumbing in payment of invoiceNo. 1205.19Purchased
office supplies from the Pen & Pad, issuing check No. 1592 in
the amount of$1,460. (Note: Debit asset account).19Purchased a
new Faith computer for $7600 from Business Basics, Inc,
purchase orderNo, 318, paying $600 down through check No.
1593 with the balance due in thirty days (n/30). The computer
has an estmated life of 6 years with a salvage value of
$1600.22Purchased bathroom and kitchen fixtures from Phoenix
Plastics, on account, purchaseorder No. 319 for $48,330, terms
1/10, n/30.22Received a bill from DeKalb Transport for $3520
for freight costs incurred during the last 30 days, terms
n/30.NOTE: Transactions up to this point have been recorded.
At this point you became controller and are responsible for
recordign all further transactions.25The board of directors voted
to purchase 3,800 shares of its own stock from

stockholderDionne Schivone at $48 per share and issued check
No. 1595 in payment. Stock repurchasesare recorded at cost.
Rockford is purchasing these shares because Ms. Schivone had
beena valuable employee.25The payroll summary for the
biweekly pay period ended Friday, December 21 contained the
follwing information:Delivery and warehouse wages 5,970FICA
taxes withheld456Federal income taxes withheld1,493State
income taxes withheld477Net pay3,545Employer's payroll
taxes:FICA tax456Federal unemployment tax- 0State
unemployment tax- 0Issued check No. 1594 for the amount of
the net pay and deposited it in the payroll bankaccount.
Individual payroll checks were then prepared for distributions
to the biweeklyemplyees on Tuesday, December 25.26The baord
of directors declared a $1.20 per share cash dividend payable on
January 14 toshareholders of record by the end of the day of
December 26.26The president informs you that Beverly's
Building Products agrees to convert the $12,800overdue
accounts receivable (invoice No. 1119) balance to a 8% note
due six months fromtoday.29A half-acre parcel of land adjacent
to the building is acquired in exchange for 850 sharesof
unissued common stock. The land has a fair value of $48,000
and will be usedimmediately as an outside storage lot and
parking lot.29An invoice in the amount of $1,060 is received
from Wayne McManus, lawyer, for legalservices involved in the
acquisition of the adjacent parcel of land; check No. 1596 is
issued.29Sold pipe and plumbing materials to Boecker Builders
on account, invoice No. 1210 for $49,80030Issued check No.
1597 in the amount of $5,940 to the Northern Star for
adverstisement run inthe home building supplement of
December 13.30Issued check No. 1598 in the amount of $1,350
to Standard Oil Co. in payment of gas, oil,and truck repairs
from Standard Oil Co. (use Freight-out).30Purchased copper
and cast iron pipe from Oxenford Copperworks on account,
purchaseorder No. 320 for $55,840, terms 1/10, n/30.30Check
No. 1599 for $10,400 is issued to the bond sinking fund trustee,
Chicago Trust Co.,for deposit in the sinking fund. (Use Other

Assets).30Sold plumbing supplies to Swanson Brothers
Construction on account, invoice No. 1211 for
$22,150.31Received a check for $24,730 from Boecker Builders
in payment of invoice No. 1207.31Issued check No. 1600 for
$54,018 to Smith Pipe Company in payment of purchase order
No. 317.31The custodian of the petty cash fund submits the
following receipts for reimbursementand reports a cash-on-hand
count of $8.Postage stampls used (supplies)$38United Parcel
(freight-out)23C.O.D postage (freight costs)51Christmas office
decorations (Misc exp)30Check No. 1601 is issued and cashed
to reimburse the fund.31Sold an electric truck-lift to Leila
Stierman Co. for $2620 cash. The original cost was$7900 with
salvage value of $900, a life of 10 years, and accumulated
depreciationrecorded through 12/31/17 is $4,550. The straight-
line method is used. (Note: the company follows the practice of
recording a half year's depreciation in the year of acquisition
and a half year in the year of disposal.) First, bring the
depreciation expenseup to date in the general journal. Then
journalize the entire entry for the sale in the cash receipts
journal.31Sold bathroom fixtures and plumbing supplies to
Trudy's Plumbing on account, invoice No. 1212 for
$50370.31Because for some time the petty cash fund has been
smaller than required for monthlyexpenditures, the fund is
increased by $105 by cashing check No. 1602 and placing the
money in the petty cash fund.31The payroll summary for the
monthly paid employees in submitted so that Decemberchecks
can be distributed before the year-end; the details are as
follows:Office and administrative salaries$40,900Federal
income taxes withheld10,225State income taxes
withheld3,272FICA taxes withheld3,129Net pay$24,274Issued
check No, 1603 for the amount of the net pay and deposited it in
the payroll bankaccount. Individual payroll checks were
prepared for distribution to all monthly employeesby the end of
the day.Employer's payroll taxes:FICA tax (all office and
administrative)$3,129Federal unemployment tax0State
unemployment tax031Cash sale since December 12 total

$59160.Instructions1Make the entries in the appropriate journal
for December 25 through December 31.(adjusting entries are
recorded in general journal)2Post any amounts to be posted as
individual amounts from journals to the general ledgerand
update the receivable and payable subsidiary ledger accounts.
(only a few entries are posted for Dec, e.g., account receivable.
Please post all other entries)3Foot and cross-foot the columnar
journals and complete the month-end postings of allbooks of
orginal entry.4Prepare a trial balance by entering the accout
balance from the general ledger in thework sheet (list all
accounts, including those with zero balances).5From the
following information prepare adjusting entries in the general
journal andenter them in the work sheet.aThe annual provison
for doubtful accounts receivable is recorded byproviding a
charge to Bad Debt Expense in an amount equal to 2.5% of
netcredit sale. All cash sales were executed in December.bAn
inventory count of the office supplies revealed $700 of supplies
on handat year end.cThe prepaid insurance on January 1, 2018
was $3400 which covers the periodJanuary 1 through August 31,
2018. The insurance premium of $6800 recordedin August
covers the period of September 1, 2018 through August 31,
2019. Rockford estimates that 50% of the premiums are
attributable to generalactivities (Use Insurance Expense) and
50% to selling activities. (UseMiscellaneous Expense).dThe
payroll summary for the employees who are paid biweekly
shows thefollowing information at December 31, 2018:Delivery
and Warehouse Wages$6,000FICA Taxes Payable459Federal
Withholding Taxes1,500State Withholding Taxes$480.00Net
pay3,561(will pay in 2019)eThe employer's share of the FICA
tax ($459) must be accrued; no state orfederal unemployment
tax is incurred during the fourth quarter because all wages and
salries earned during the last quarter exceed the maximum
subject to unemployment tax.fInterest has accrued at 6% on the
long-term notes payable since July 1,2018.These interests are
due on January 1, 2019 (The first six-month interests have been
recorded and paid in July).Interest on bonds is accrued and paid

semi-annually, at a 4% annual coupon rate.The next interest
payment is due on January 1, 2019. The bonds are datedJanuary
1, 2012, and mature January 1, 2022. Market interest rate was
6%at issurance . Use effective interest amortization
method.gThe interest accrued to 12/31/18 on notes receivable is
composed of thefollowing:Platteville Plumbers, 10%, 6 months,
due March 31, 2019$1,052Bilder Construction, 6%, 6 months,
due June 14, 2019161Beverly's Building, 8%, 6 months, due
June 26, 201923$1,236The interst accrued at 12/31/18 on the
note payable (current) of $16000 is$1250. Interest is payable on
January 2, 2019. (The note is due in 2019)hA warehouse lease
payment of $8400 was made on Septermber 1, 2018, for rental
through February 28, 2019. (The Prepaid Rent account is
foradvance lease payments on the warehouse.)i$815 is owned to
Northern Electric Co. and $425 is owned to City of Rockfordfor
utility services proved during December 2018.jPlant and
equipmentto be depreciated are composed of the
following:AssetsDate
Acquiredcostestimated
usage or lifesalvage
valuedepreciation
methodBuilding7/1/14$306,00025 years$20,000sum-of-years'
digitsTruck #14/1/1428,00060,000 miles3,100miles drivenTruck
#29/1/1533,00060,000 miles4,200miles drivenLift Truck
#1*8/17/117,90010 years900straight-lineLift Truck
#23/29/154,50010 years500straight-lineLift Truck
#39/16/165,00010 years500straight-lineOffice
Equipment7/1/1632,8007 years2,000straight-
lineComputer12/19/187,6004 years1,600Double-decling *sold
12/31/18Truck No. 1has been driven 45,000 miles prior to
1/1/18 and truck No. 2 hasbeen driven 30,500 miles prior to
1/1/18. During 2018 truck No. 1 was driven12000 miles and
truck No. 2 was driven 16000 miles. Remember that
RockfordCompany takes a half-year's depreciation in the year of
acquisition and a half-year in the year of sale.6Complete the
worksheet. Compute State of Illinois corporate income taxes at

4.5% of pretaxincome. The state income tax is deductible on the
federal tax return, and the federal tax isnot deductible on the
Illinois return. Assume federal corporate income tax on
incomesubject to federal tax is as follows:first $5000015%next
2500025%remainder34%Income between $100,000 and
$335,000 is assessed a 5% federal surtax, not to
exceed$11,750.007Prepare the journal entry for income taxes.
Post all adjusting entries.8Prepare 2018's income statement
(assume the weighted-average number of shares outstandingfor
the year 2018 is 5,600 shares). Assume that bad debt expense
and depreciation expenseare administrative expenses.9Prepare
2018's statement of retained earnings.10Prepare 2018's balance
sheet.
ACCT 3312 Project
adapted from &"-,Italic"Rockford Practice Set &"-
,Regular"@Wiley
General JournalDateAccount TitlesRefDebitCreditENTRIES
FROM PRIOR CONTROLLER:3-DecAllowance for Doutful
Account1134,800 Accounts Receivable - Iwanaga Plumbing
and Heating112/1904,8009-DecPayroll Tax Expense730450
FICA Taxes Payable21445015-DecSales Returns and
Allowance4125,145 Accounts Receivable - The Potts
Co112/1225,145Inventory1203,087 Cost of Goods
Sold5053,08715-DecAccounts Payable - Edward's Plumbing
Supplies Inc201/183,087 Inventory1203,08717-DecNotes
Receivable11568,900 Accounts Receivable - Bilder
Construction112/18068,90022-DecInventory1203,520
Accounts Payable - DeKalb Transport201/203,520NEW
CONTROLLER ENTRIES:
Purchase JournalDateOrder NoAccount CreditedAccount
NoAmount2-Dec315Edward's Plumbing Supplies, Inc.
n/601835,8808316Phoenix Plastics 1/10,
n/301451,90017317Smith Pipe Company 1/15,
n/603955,12019318(see cash disbursements

journal)22319Phoenix Plastics 1/10, n/301448,330
Sales JournalDateInvoice NoAccount DebitedAcct No.Acct.
Rec. Dr Sales Rev. CrCOGS Dr inventory Cr1-
Dec1201Beverly's Building
Products17525,05015,03031202Bilder Construction
Co18042,72025,63241203Coconino Contractors,
Inc16011,2006,72081204Trudy's
Plumbing15523,10013,860101205Trudy's
Plumbing15533,85020,310111206The Potts
Company12251,45030,870121207Boecker
Builders11724,73014,838171208A & B
Hardware1438,3405,004181209Coconino Contractors,
Inc16047,93028,758
Cash Receipts JournalDateDescriptionCash DrSales Discounts
DrRefAR CrSales Rev CrSundry Acct. Acct NoDrCr1-
DecSwanson Brothers Construction28,17557513328,7504The
Potts Company41,45484612242,3005Rankin Plumbing
Corp74,8231,52716676,3508Coconino Contractors
Inc31,70016031,7008Boecker
Builders39,10011739,10010Trudy's
Plumbing13,50015513,50011Boecker
Builders33,32011733,32011Cash
Sales15,25815,2585059,1551209,15512Trudy's
Plumbing22,63846215523,10018Trudy's
Plumbing33,17367715533,850
Cash Disbursements JournalDateCheck NoPayeeCash CrRefAP
DrInventory CrSundry Acct. Acct NoDrCr2-Dec1580Oxenford
Copperworks31,7003531,70041581Standard Oil
Company1,1206441,12051582Khatan Steel
Corp.17,8205718,00018051583Phoenix
Plastics12,0541412,30024691585Scooter
Gordon79061079091586Phoenix
Plastics5,980145,980101587Smith Pipe
Company34,3003935,000700111584Payroll Bank
Account3,4977265,8902144502161,472218471151588N. ILL.
Communications599732599161589Winnebago County

Bank12,36021610,5732141,787161590Phoenix
Plastics50,3431451,9001,557181591S. White
Trucking1,0211201,021191592Pen &
Pad1,4601261,460191593Business Basics
Inc6001517,600201/167,000
General LedgerAccount:
Cash101DateExplanationRefDebitCredit Balance30-
NovBalance244,430Account: Petty
Cash105DateExplanationRefDebitCredit Balance30-
NovBalance150Account: Accounts
Receivable112DateExplanationRefDebitCredit Balance30-
NovBalance351,520Account: Allowance for Doubtful
Accounts113DateExplanationRefDebitCredit Balance30-
NovBalance6,580Account: Notes
NovBalance45,000Account: Interest
NovBalance0Account:
Inventory120DateExplanationRefDebitCredit Balance30-
NovBalance531,960Account:
Supplies126DateExplanationRefDebitCredit Balance30-
NovBalance2,320Account: Prepaid
Insurance130DateExplanationRefDebitCredit Balance30-
NovBalance10,200Account: Prepaid
Rent131DateExplanationRefDebitCredit Balance30-
NovBalance25,410Account:Other
Assets135DateExplanationRefDebitCredit Balance30-
NovBalance123,447Account:Land140DateExplanationRefDebit
Credit Balance1-
JanBalance43,000Account:Building145DateExplanationRefDebi
tCredit Balance1-JanBalance306,000Account:Accum. Depr -
Building146DateExplanationRefDebitCredit Balance1-
JanBalance73,040Account:Equipment151DateExplanationRefDe
bitCredit Balance1-JanBalance32,800Account:Accum. Depr -
Equipment152DateExplanationRefDebitCredit Balance1-
JanBalance6,600Account:Trucks163DateExplanationRefDebitCr

edit Balance1-JanBalance78,400Account:Accum. Depr -
Trucks164DateExplanationRefDebitCredit Balance1-
JanBalance39,540Account:Notes
Payable200DateExplanationRefDebitCredit Balance30-
NovBalance16,000Account:Accounts
NovBalance137,880Account:FICA Taxes
NovBalance1,787Account:Income Taxes
NovBalance0Account:Federal Withholding Taxes
NovBalance9,101Account:State Withholding Taxes
NovBalance2,486Account:FUTA Taxes
NovBalance400Account:SUTA Taxes
NovBalance2,600Account:Wages and Salaries
Nov0Account:Interest
NovBalance0Account:Dividends
NovBalance0Account:Notes Payable (Long
term)268DateExplanationRefDebitCredit Balance1-
JulBalance123,000Account: Bonds
JanBalance275,000Account: Discount on Bonds
NovBalance17,131Account: Common Stock - $16 Stated
Value311DateExplanationRefDebitCredit Balance1-JanBalance
189,000Account: Paid-in Captial in Excess of Stated
Value317DateExplanationRefDebitCredit Balance1-
JanBalance256,400Account: Retained
Earnings320DateExplanationRefDebitCredit Balance1-

JanBalance362,748Account: Treasury
Stock330DateExplanationRefDebitCredit Balance1-JanBalance
(700 shares)42,610Account:
Dividends332DateExplanationRefDebitCredit Balance0Account:
Income Summary350DateExplanationRefDebitCredit
BalanceAccount: Sales
Revenue401DateExplanationRefDebitCredit Balance30-
Nov5,234,940Account: Sales Return and
Allowance412DateExplanationRefDebitCredit Balance30-
Nov9,380Account: Sales
Discount414DateExplanationRefDebitCredit Balance30-
Nov73,044Account: Cost of Goods
Sold505DateExplanationRefDebitCredit Balance30-
Nov3,648,722Account: Advertising
Expense610DateExplanationRefDebitCredit Balance30-
Nov6,578Account: Bad Debt
Jan0Account: Supplies
Nov1,540Account: Freight-
out644DateExplanationRefDebitCredit Balance30-
Nov17,732Account: Misc
DecMiscellaneous Expense - Petty CashJ3030Account:
Depreciation Expense711DateExplanationRefDebitCredit
Balance30-Nov0Account: Insurance
Expense722DateExplanationRefDebitCredit BalanceAccount:
Salaries and Wages Expense726DateExplanationRefDebitCredit
Balance30-Nov933,122Account: Rent
Expense729DateExplanationRefDebitCredit Balance0Account:
Payroll Tax Expense730DateExplanationRefDebitCredit
Balance30-Nov82,916Account: Utilities
Nov16,270Account: Interest
Revenue820DateExplanationRefDebitCredit Balance30-
Nov3,150Account: Gain on Disposal of Plant

Assets826DateExplanationRefDebitCredit Balance0Account:
Interest Expense905DateExplanationRefDebitCredit Balance30-
Nov24,570Account:Loss on Disposal of Plant
Assets921DateExplanationRefDebitCredit Balance30-
Nov0Account:Income Tax
Nov72,000
Work SheetRockford CorporationWork Sheet December 31
2018Account TitlesTrial Balance (Nov 30)Trial Balance (Dec
31)AdjustmentsAdjusted Trial BalanceIncome StatementBalance
SheetDebitCreditDebitCreditDebitCreditDebitCredit
Income Statement
Statement of Retained Earnings
Balance Sheet
check figureTotal credit purchase247,070Total credit
sales390,690Total cash receipts419,651Total cash
disbursement456,877Total assets1,497,382Net income218,954

Sheet1Pretax IncomeYang, Ziyun make sure to add back income t.docx

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