| Due Tuesday, November 27, 1:00 p.m. |
| Connie Cooper, Inc. |
| Adjusted Trial Balance |
| December 31, 2017 |
| | | | | | Dr. | | Cr. |
| Cash | | | | | 46,000 |
| Accounts Receivable | | | | | 27,000 |
| Allowance for Doubtful Accounts | | | | | | | 1,750 |
| Merchandise Inventory (beginning) | | | | | 84,375 |
| Estimated Returns Inventory (beginning) | | | | | 1,800 |
| Prepaid Insurance | | | | | 16,800 |
| Land | | | | | 120,000 |
| Office Equipment | | | | | 46,000 |
| Accumulated Depreciation-Office Equipment | | | | | | | 16,865 |
| Buildings | | | | | 350,000 |
| Accumulated Depreciation-Buildings | | | | | | | 48,125 |
| Timber | | | | | 20,000 |
| Accumulated Depletion-Timber | | | | | | | 4,000 |
| Patent | | | | | 12,500 |
| Accounts Payable | | | | | | | 36,500 |
| Salaries Payable | | | | | | | 5,750 |
| Interest Payable | | | | | | | 1,500 |
| Customer Refunds Payable | | | | | | | 6,500 |
| Unearned Rent | | | | | | | 2,000 |
| Notes Payable | | | | | | | 350,000 |
| Capital, Connie Cooper | | | | | | | 191,100 |
| Connie Cooper, Drawings | | | | | 5,000 |
| Sales | | | | | | | 379,650 |
| Purchases | | | | | 212,500 |
| Purchases Returns and Allowances | | | | | | | 3,800 |
| Purchase Discounts | | | | | | | 8,620 |
| Freight-in | | | | | 6,200 |
| Bad Debt Expense | | | | | 2,670 |
| Insurance Expense | | | | | 1,600 |
| Interest Expense | | | | | 25,000 |
| Repairs and Maintenance Expense | | | | | 6,800 |
| Salaries Expense | | | | | 34,500 |
| Advertising Expense | | | | | 5,700 |
| Depreciation Expense | | | | | 11,815 |
| Depletion Expense | | | | | 3,000 |
| Amortization Expense | | | | | 4,000 |
| Utilities Expense | | | | | 14,100 |
| Rent Revenue | | | | | | | 1,200 |
| | | | | | 1,057,360 | | 1,057,360 |
| | | | | | | | | - |
| Other data: |
| (1) Inventory on hand at December 31, 2017 is $95,200 (i.e., ending inventory). |
| (2) Estimated Returns Inventory increased by $4,500. |
| (3) Bad Debt Expense, Insurance Expense, Repairs and Maintenance Expense, Depletion Expense, Amortization Expense, and Utilities Expense are 100% administrative. |
| (4) Advertising Expense is 100% selling. |
| (5) Depreciation Expense and Salaries Expense are 60% administrative and 40% selling. |
| (6) $75,000 of the Notes Payable are payable next year. |
| (7) Connie Cooper contributed $13,000 to the business in 2017 |
| Instructions: Prepare a(n) |
| | | | Points |
| Classified Balance Sheet | | | 20 |
| Multi-step Income Statement | | | 20 |
| Statement of Owner's Equity | | | 5 |
| Closing entries | | | 5 |
| Total | | | 50 |
| **You are required to turn in a neat, legible, HANDWRITTEN copy by the due date. |
| **This is not a group project! |
jeofree
accountingtask.xls
