| | | Northco Manufacturing Company | | | INSERT NEW ROWS AND COLUMNS AS NECESSARY WHEN MAKING ENTRIES |
| | | Trail Balance 12-31-2012 | | | YOUR LAST COLUMNS SHOULD BE YOUR SECOND PRECLOSING TRIAL BALANCE |
| | | Pre Closing | | | THE SECOND, OR ADJUSTED PRECLOSING TRIAL BALANCE IS THE STARTING POINT FOR PART II |
| | | | Preclosing | Adjustment |
| | | | 12/31/12 | Entry |
| | | | | Label |
| ============================================================================================================================================================================================== |
| 101 | Cash-First National Bank | | 324,970 | | NOTE: Remember this is a preclosing trial balance. The dividend account should be a debit and is closed to |
| 102 | Cash-Second National Bank | | 45,604 | | retained earnings. Account balances with a negative sign denotes credits and those without a negative |
| 103 | Petty Cash | | 1,734 | | sign denotes debits. |
| 105 | Accounts receivable | | 145,247 |
| 106 | Allowance for bad debts | | -12,535 |
| 109 | Inventory | | 589,373 |
| 110 | Prepaid Insurance | | 51,772 |
| 111 | Prepaid Rent | | 2,484 |
| 112 | Office Supplies Inventory | | 6,305 |
| 113 | Small Tools Inventory | | 4,579 |
| 115 | Investment in Securities | | 328,432 |
| 116 | Allow. for Unreal. Gain/loss | | 5,730 |
| 210 | Land | | 104,484 |
| 220 | Buildings | | 244,484 |
| 221 | Accum. depn.- buildings | | -55,524 |
| 230 | Machinery and equipment | | 537,034 |
| 231 | Accum. depn.- mach.& equip. | | -132,716 |
| 240 | Automotive equipment | | 91,359 |
| 241 | Accum. depn.- auto. equip. | | -27,871 |
| 250 | Office furniture & fixtures | | 101,009 |
| 251 | Accum. depn.- off. furn.& fix. | | -31,192 |
| 301 | Accounts payable | | 141,883 |
| 302 | Accrued Payroll Taxes | | 106,170 |
| 303 | Wages and Salaries Payable | | 78,411 |
| 304 | Accrued Property Taxes | | 10,734 |
| 306 | Dividends payable | | 15,109 |
| 307 | Federal income tax payable | | 15,464 |
| 501 | Common stock-Par $100 | | 926,234 |
| 505 | Other contributed capital | | 737,784 |
| 506 | Unrea Gain/Loss Investments | | 5,730 |
| 601 | Retained earnings | | 208,029 |
| 605 | Dividends | | 12,641 |
| 701 | Sales | | -3,389,598 |
| 703 | Sales Returns & Allowances | | 53,858 |
| 801 | Cost of Goods Sold | | 1,353,525 |
| 820 | Wage and Salary Expense | | 1,453,484 |
| 821 | Payroll Tax Expense | | 120,794 |
| 822 | Depreciation Expense | | 62,012 |
| 823 | Rent Expense | | 4,984 |
| 824 | Office Supplies Expense | | 9,445 |
| 825 | Small Tools Expense | | 3,889 |
| 826 | Advertising Expense | | 15,430 |
| 827 | Insurance | | 27,002 |
| 828 | Repairs and Maintenance | | 13,258 |
| 829 | Property Tax | | 16,027 |
| 830 | Utilities | | 12,757 |
| 831 | Professional Fees | | 13,879 |
| 832 | Miscellaneous Expense | | 8,106 |
| 833 | Provision for Bad Debts | | 12,755 |
| 834 | Freight Expense | | 39,160 |
| 901 | Interest Expense | | 24,056 |
| 910 | Gain/loss Sale of Investments | | 15,108 |
| 920 | Income From Investments | | 9,816 |
| 930 | Gain/loss Sale of Fixed Assets | | 15,127 |
| 950 | Miscellaneous Income | | 3,538 |
| 940 | Federal Income Tax | | 9,733 |
glangsing
unadjusted_northvaco_preclosing_trialbalance.xlsx
