ADJUSTED TRIAL BALANCE December 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 86,000.00 2 Accounts Receivable 29,000.00 3 Prepaid Insurance • Equipment 5 Accumulated Depreciation-Equipment 6 Accounts Payable 1 Salaries Payable * Income Taxes Payable 9 Roscoe Chandler, Capital 16,000.00 60,000.00 40,000.00 6,000.00 8,000.00 4,000.00 20,000.00 10 Roscoe Chandler, Drawing 5,000.00 11 Fees Earned 185,600.00 12 Rent Revenue 92,000.00 13 Interest Revenue 17,200.00 14 Salaries Expense 71,000.00 15 Selling Expense 25,600.00 16 Income Taxes Expense 15,000.00 17 Depreciation Expense-Equipment 47,200.00 18 Insurance Expense 17,000.00 19 Miscellaneous Expense 1,000.00 Totals 372800.00 372.800 00 20

ADJUSTED TRIAL BALANCE December 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 86,000.00 2 Accounts Receivable 29,000.00 3 Prepaid Insurance • Equipment 5 Accumulated Depreciation-Equipment 6 Accounts Payable 1 Salaries Payable * Income Taxes Payable 9 Roscoe Chandler, Capital 16,000.00 60,000.00 40,000.00 6,000.00 8,000.00 4,000.00 20,000.00 10 Roscoe Chandler, Drawing 5,000.00 11 Fees Earned 185,600.00 12 Rent Revenue 92,000.00 13 Interest Revenue 17,200.00 14 Salaries Expense 71,000.00 15 Selling Expense 25,600.00 16 Income Taxes Expense 15,000.00 17 Depreciation Expense-Equipment 47,200.00 18 Insurance Expense 17,000.00 19 Miscellaneous Expense 1,000.00 Totals 372800.00 372.800 00 20

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 3MC

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TRIAL balance dated Dec 31, 2019 MUSIC-IS-US, INCTRIAL BALANCEDECEMBER 31, 2018 cash …………………………………………………. $ 45,000Marketable securities…………………………. 25,000                                      Accounts receivable…………………………… 125,000Allowance for doubtful accounts………… $5,000Merchandise inventory……………………….. 250,000Office supplies................................................... 1,200Prepaid insurance…………………………………… 6,600    Building and fixtures…………………………… 1,791,000                      Accumulated depreciation………………………. 800,000 Land…………………………………………………... 64,800Accounts payable…………………………………… 70,000Unearned customer deposits…………………… 8,000Income taxes payable………………………………. 75,000Capital stock…………………………………………. 1,000,000Retained…
TRIAL balance dated Dec 31, 2019 MUSIC-IS-US, INCTRIAL BALANCEDECEMBER 31, 2018 cash …………………………………………………. $ 45,000Marketable securities…………………………. 25,000                                      Accounts receivable…………………………… 125,000Allowance for doubtful accounts………… $5,000Merchandise inventory……………………….. 250,000Office supplies................................................... 1,200Prepaid insurance…………………………………… 6,600    Building and fixtures…………………………… 1,791,000                      Accumulated depreciation………………………. 800,000 Land…………………………………………………... 64,800Accounts payable…………………………………… 70,000Unearned customer deposits…………………… 8,000Income taxes payable………………………………. 75,000Capital stock…………………………………………. 1,000,000Retained…
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Orbit Limited : Statement of Financial Position as at 31 December 2022 2021 Non-current Assets R11 810 000 R7 560 000 Property, Plant, Equipment R10 025 000 R6 250 000 Investments R1 785 000 R1 310 000 Current Assets R4 190 000 R4 690 000 Inventories R 1 875 000 R2 350 000 Account Receivable R1 925 000 R2 200 000 Cash R390 000 R140 000 Toatal Assets R16 000 000 R12 250 000 Equities & Liabilities Equity ? ? Oridanary share capital R5 480 000 R3 680 000 Retained earnings ? ? Non-current Liabilities R4 500 000 R3 800 000 Loan (20% p.a) R4 500 000 R3 800 000 Current Liabilities R2 300 000 R1 500 000 Accounts payable? R2 300 000 R1 500 000 Calculate the increase in the retained earnings over the two-year period.
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