Accounts Receivable

Sales

150,000.00
150,000.00

Merchandise Inventory
Accounts Payable

88,400.00

Rent Expense
Cash

22,000.00

Salaries and Wages Expense

Cash

38,700.00

Salaries and Wages Expense

Salaries and Wages Payable
Accounts Payable
Cash
Miscellaneous Expense
Cash
Insurance Expense
Prepayments
Depreciation Expense
Accumulated Depreciation
Cash

88,400.00

22,000.00

38,700.00
4,300.00
4,300.00
73,200.00
73,200.00
8,200.00
8,200.00
100.00
100.00
4,375.00
4,375.00
63,800.00

Accounts Receivable

63,800.00

Bad Debts Expense

Accounts Receivable

3,800.00

Erap, Drawings
Cash

6,500.00

Bad Debts Expense

Allowance for Bad Debts

1,369.00

Interest Expense
Interest Payable

3,800.00

6,500.00

1,369.00
100.00
100.00

Cost of Goods Sold

Merchandise Inventory

74,200.00
74,200.00

ASSETS
DEBIT
CREDIT
CASH
86,500.00
22,000.00
63,800.00
38,700.00
73,200.00
8,200.00
6,500.00
150,300.00
148,600.00

LIABILITIES
DEBIT
CREDIT
ACCOUNTS PAYABLE
73,200.00
66,300.00
88,400.00
73,200.00
154,700.00

ACCOUNTS RECEIVABLE
54,500.00
63,800.00
150,000.00
3,800.00
204,500.00
67,600.00

SALARIES PAYABLE
2,500.00
4,300.00
6,800.00

MERCHANDISE INVENTORY
136,300.00
74,200.00
88,400.00
150,500.00
74,200.00

NOTES PAYABLE
10,000.00

PREPAID INSURANCE
800.00
100.00
EQUIPMENT
420,000.00
ACCUMULATED DEPRECIATION
166,000.00
4,375.00
170,375.00
ALLOWANCE FOR BAD DEBTS
1,369.00

INTEREST PAYABLE
100.00

EQUITY
DEBIT
CAPITAL STOCKS

RETAINED EARNINGS

DRAWINGS
6,500.00

EQUITY
CREDIT
CAPITAL STOCKS
300,000.00
RETAINED EARNINGS
153,300.00
DRAWINGS

REVENUE
DEBIT
CREDIT
SALES
150,000.00

EXPENSES
DEBIT
CREDIT
RENT EXPENSE
20,000.00
SALARIES AND WAGES EXPENSE
38,700.00
4,300.00
43,000.00
INSURANCE EXPENSE
100.00
MISCELLANEOUS EXPENSE
8,200.00
DEPRECIATION EXPENSE
4,375.00
BAD DEBTS EXPENSE
3,800.00
1,369.00
5,169.00
INTEREST EXPENSE
100.00
COST OF GOODS SOLD
74,200.00

DEBIT
150,300.00
204,500.00
224,700.00
800.00
420,000.00

Cash
Accounts Receivable
Merchandise Inventoy
Prepayments
Equipment
Accumulated Depreciation
Accounts Payable
73,200.00
Interest Payable
Salaries Payable
Notes Payable
Capital Stocks
Retained Earnings
Drawings
6,500.00
Sales
Rent Expense
22,000.00
Salaries Expense
43,000.00
Miscellaneous Expense
8,200.00
Insurance Expense
100.00
Bad Debt Expense
5,169.00
Interest Expense
100.00
Cost of Goods Sold
74,200.00
Depereciation Expense
4,375.00
Allowance for Bad Debt
Total
1,237,144.00
Profit (Loss)
TOTAL

CREDIT
148,600.00
67,600.00
74,200.00
100.00

NET BALANCES
DEBIT
1,700.00
136,900.00
150,500.00
700.00
###

170,375.00
154,700.00
100.00
6,800.00
10,000.00
300,000.00
153,300.00
6,500.00
150,000.00
22,000.00
43,000.00
8,200.00
100.00
5,169.00
100.00
74,200.00
4,375.00
1,369.00
1,237,144.00

873,444.00

NET BALANCES
CREDIT

170,375.00
81,500.00
100.00
6,800.00
10,000.00
300,000.00
153,300.00

BALANCE SHEET
DEBIT
CREDIT
1,700.00
136,900.00
150,500.00
700.00
420,000.00
170,375.00
81,500.00
100.00
6,800.00
10,000.00
300,000.00
153,300.00
6,500.00

INCOME STATEMENT
DEBIT
CREDIT

150,000.00

150,000.00
22,000.00
43,000.00
8,200.00
100.00
5,169.00
100.00
74,200.00
4,375.00

1,369.00
873,444.00

1,369.00
716,300.00
723,444.00
157,144.00
7,144.00 7,144.00
716,300.00
150,000.00

150,000.00

ERAP'S PARTY
BALANCE S
31-Oct-

ASSETS
Cash
Accounts Receivable
Allowance for Bad Debts
Merchandise Inventory
Prepayments
Equipment
Accumulated Depreciation
TOTAL ASSETS

LIABILITIES
Accounts Payable
Interest Payable
Salaries Payable
Notes Payable
Total Liabilities
STOCKHOLDER'S EQUITY
Capital Stock
Retained Earnings
Total Stockholder's Equity
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY

ERAP'S PARTY COMPANY

BALANCE SHEET
31-Oct-15

1,700.00
136,900.00
1,369.00
150,500.00
700.00
420,000.00
170,375.00
538,056.00

81,500.00
100.00
6,800.00
10,000.00
98,400.00

300000
139656
439656
538,056.00

Sales
Cost of Goods Sold
Gross Profit
Rent Expense
Salaries Expense
Miscellaneous Expense
Interest Expense
Bad Debt Expense
Depreciation Expense
Insurance Expense
Less: Total Expenses
NET PROFIT (LOSS)

22,000.00
43,000.00
8,200.00
100.00
5,169.00
4,375.00
100.00

150,000.00
74,200.00
75,800.00

82,944.00
7,144.00