Accounts Payable 200,500 Balance Sheet item

Account Receivable 165,700 Balance Sheet item

Accumulated Depreciations 350,000 Balance Sheet item
Additional Paid-In Capital 40,000 Balance Sheet item
Allowance for Doubtful Accounts 2,650 Balance Sheet item
Building and Equipment 1,120,000 Balance Sheet item
Cash 45,300 Balance Sheet item
Common Stock 544,850 Balance Sheet item
Copyrights 112,000 Balance Sheet item
Customer Deposits (expected to be paid in 2017) 375 Balance Sheet item
Goodwill 225,000 Balance Sheet item
Income Taxes Payable 42,340 Balance Sheet item
Inventories 315,250 Balance Sheet item
Long-term Investments in Warren Co. 95,630 Balance Sheet item
Deposits With Vendors 47,200 Balance Sheet item
Land 125,000 Balance Sheet item
Mortgage Payable ($2,780 per month) 667,200 Balance Sheet item
2% Notes Payable to Banks ( due 2017) 26,000 Balance Sheet item
Notes Receivable (due 2017) 16,000 Balance Sheet item
Patents 219,335 Balance Sheet item
Retained Earnings 127,500 Balance Sheet item
Trademarks 115,000 Balance Sheet item
Twenty-year, 12% Bonds, Due 1/1/2020 600,000 Balance Sheet item

2/10/2016 10,000 units @ $26 each 260000

6/12/2016 15,000 units @ $28 each 420000
10/23/2016 12,000 units @ $29 each 348000
11/25/2016 8,000 units @ $30 each 240000
Total Purchase 1268000
Sales
Closing Stock

Current Year Summary of Transaction

DR
Accounts Payable 200,500 1,124,450.00
Account Receivable 165,700 1776816
Accumulated Depreciations 350,000 25000
Additional Paid-In Capital 40,000
 Allowance for Doubtful Accounts 2,650
Building and Equipment 1,120,000
Cash 45300 1,835,550
Common Stock 544,850
Copyrights 112,000
Customer Deposits (expected to be paid in 2017) 375
Goodwill 225,000
Income Taxes Payable 42,340 90,500
Inventories 315,250
Long-term Investments in Warren Co. 95,630
Deposits With Vendors 47,200
Land 125,000
Mortgage Payable ($2,780 per month) 667,200 33360
2% Notes Payable to Banks ( due 2017) 26,000
Notes Receivable (due 2017) 16,000
Patents 219,335
Retained Earnings 127,500
Trademarks 115,000
Twenty-year, 12% Bonds, Due 1/1/2020 600,000
Interests Expense $17,415
Sales
Rental income
Selling and Administrative expenses 72,475
Purchase 1268000
Depreciation Expense
Loss on Disposal of building 35800
Bad debt Expense
Income Tax
6,279,366.00

Account Receivable 191,816

Current Year allowance 2% of Account Receivable 3836
Bad debt Expense 1,186

New York Traders Inc

Income Statement
For the Year Ended December 31, 2016
Sales 1776816
Cost Of goods sold 1480680
Gross profit 296136
Operating Expense
Selling and Administrative expenses 72,475
Depreciation Expense 56,000
Bad debt Expense 1,186
Total Opearting Expense 129,661
Income from Operations 166,475
Other Revenue and Expenses
Loss on Disposal of building -35800
Interests Expense -17415
Rental income 25650
Total Other Revenue and Expenses 27565
Profit Before Tax 138,910
Income Tax . 41673
Net Income 97,237

New York Traders Inc

Balance Sheet for the Year ended 2016
Assets
Current Assets
Cash 542,650.00
Inventories 102,570
Account Receivable 191,816
Less Allowance For Doubtfull Debt 3,836 187,980
Notes Receivables 16000
Deposits With Vendors 47,200
Total Current Assets
Long Term Investments
Long-term Investments in Warren Co.
Property Plant and Equipment
Building and Equipment 1,000,000
Less Accumulated Depreciations 375,000 625,000
Land 125,000
Intangible Assets
Goodwill 225,000
Patents 219,335
Trademarks 115,000
Copyrights 112,000
Total of intagible Asset
Total Assets

Liabilities And Equity

Current Liabilities
Accounts Payable 344,050
Customer Deposits (expected to be paid in 2017) 375
Mortage Payable Current Portion 33,360
2% Notes Payable to Banks ( due 2017) 26,000
Income Taxes Payable (6,487)
Total Current Liabilities

Long term Liabilities

Twenty-year, 12% Bonds, Due 1/1/2020 600,000
Mortgage Payable ($2,780 per month) 600,480
Shareholder Equity
Common Stock 544,850
Additional Paid in capital 40,000
Retained Earnings 224,737
Total Shareholder Equity
Total Liabilities And Equity
 Sub Group
Current Liabilities
Current asset
Accumulated Depreciations
Sharholder Equity
Property Plant and Equipment
Current asset
Current asset
Sharholder Equity
Intangible Assets
Current Liabilities
Intangible Assets
Current Liabilities
Current asset
Long term Investment
Long term Loans and Advance
Property Plant and Equipment
Current Liabilities (Current Portion)/Long term Liabilities
Current Liabilities
Current asset
Intangible Assets
Sharholder Equity
Intangible Assets
Long term Liabilities

Year Summary of Transaction Prio Adjusted Trial Balance Adjustment

CR DR CR
1268000 344,050.00
1,750,700 191,816
325,000 50000
40,000
 2,650 1,186
120,000 1,000,000
1,338,200.00 542650
544,850
112,000
375
225,000
-48,160 41673
315,250
95,630
47,200
125,000
633,840
26,000
16,000
219,335
127,500
115,000
600,000
$17,415
1776816 1776816
25,650 25,650
72,475
1,268,000
56,000
35800
1,186
41,673
6279366 4398571 4,398,571.00
 896,400

95,630

750,000

671,335
2,413,365

6,000.00

397,297.90

1,200,480.00
 809,587
2,407,365
 Adjusted Trial Balance
DR CR
344,050.00
191,816
375,000
40000
 3,836
1,000,000
542,650.00
544,850
112,000
375
225000
-6487
315250
95630
47200
125000
633840
26000
16000
219335
127500
115000
600000
17415
1776816
25650
72,475
1,268,000
56,000
35800
1,186
41,673
4497430 4491430