Howard, Inc. Unadjusted Trial Balance Debit CreditCash $ 435,976 Accounts Receivable $ 757,800 Inventory $ 224,800 Equity Investments $ 205,000 Valuation Account-Equity Investments $ 110,000 Available for Sale Debt Securities $ 310,000 Valuation Account-AFS Securities $ 65,000 Held to Maturity Securities $ 107,000 Land $ 242,150 Buildings $ 394,000 Accumulated Depreciation--Buildings $ (108,350)Equipment $ 167,000 Accumulated Depreciation-- Equipment $ (100,200)Tools $ 100,000 Accumulated Depreciation-- Tools $ (86,700)Right-to-use asset $ 128,776 Deferred Tax Asset $ 28,000 Interest Payable $ (3,125)Accounts Payable $ (75,000)Unearned Revenue $ (100,000)Prepaid/Accrued Pension Cost $ 29,800 Income Tax Payable $ (505,939)Obligations Under Capital Lease $ (128,776)Litigation Payable $ (30,000)Notes Payable $ (129,800)Bonds Payable $ (250,000)Discount on Bonds Payable $ 13,540 Deferred Tax Liability $ (31,500)Accumulated OCI--investments $ (30,000)Accumulated OCI--pension $ (4,150)Retained Earnings $ (599,000)Common Stock, $.20 par value $ (100,000)Paid-in-capital in excess of par $ (300,000)Unrealized Gain/Loss on equity securities $ (110,000)Unrealized Gain/Loss--AFS Sec. $ (65,000)Dividends $ 20,000 Sales $ (2,033,000)Sales Discounts $ 9,200 Purchases $ 600,200 Purchase Discounts $ (32,000)Freight-in $ 24,800 Salaries Expense $ 139,600 Utilities Expense $ 18,800 Repair Expense $ 11,800 Depreciation/Amortization $ 34,850 Interest Expense $ 17,609 Advertising Expense $ 14,400 Pension Cost Insurance Expense $ 7,000 Litigation Expense $ 30,000 Lease Expense $ 36,000 Income Tax Expense $ 509,439 Totals $ 4,792,540 $ (4,822,540) Create income statement, balance sheet, and stockholders equity
Howard, Inc.
Unadjusted
Debit
Credit
Cash
$ 435,976
Accounts Receivable
$ 757,800
Inventory
$ 224,800
Equity Investments
$ 205,000
Valuation Account-Equity Investments
$ 110,000
Available for Sale Debt Securities
$ 310,000
Valuation Account-AFS Securities
$ 65,000
Held to Maturity Securities
$ 107,000
Land
$ 242,150
Buildings
$ 394,000
$ (108,350)
Equipment
$ 167,000
Accumulated Depreciation-- Equipment
$ (100,200)
Tools
$ 100,000
Accumulated Depreciation-- Tools
$ (86,700)
Right-to-use asset
$ 128,776
$ 28,000
Interest Payable
$ (3,125)
Accounts Payable
$ (75,000)
Unearned Revenue
$ (100,000)
Prepaid/Accrued Pension Cost
$ 29,800
Income Tax Payable
$ (505,939)
Obligations Under Capital Lease
$ (128,776)
Litigation Payable
$ (30,000)
Notes Payable
$ (129,800)
Bonds Payable
$ (250,000)
Discount on Bonds Payable
$ 13,540
$ (31,500)
Accumulated OCI--investments
$ (30,000)
Accumulated OCI--pension
$ (4,150)
$ (599,000)
Common Stock, $.20 par value
$ (100,000)
Paid-in-capital in excess of par
$ (300,000)
Unrealized Gain/Loss on equity securities
$ (110,000)
Unrealized Gain/Loss--AFS Sec.
$ (65,000)
Dividends
$ 20,000
Sales
$ (2,033,000)
Sales Discounts
$ 9,200
Purchases
$ 600,200
Purchase Discounts
$ (32,000)
Freight-in
$ 24,800
Salaries Expense
$ 139,600
Utilities Expense
$ 18,800
Repair Expense
$ 11,800
Depreciation/Amortization
$ 34,850
Interest Expense
$ 17,609
Advertising Expense
$ 14,400
Pension Cost
Insurance Expense
$ 7,000
Litigation Expense
$ 30,000
Lease Expense
$ 36,000
Income Tax Expense
$ 509,439
Totals
$ 4,792,540
$ (4,822,540)
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