Detailed Analysis of Journal Entries, Ledgers, and Financial Reporting

This assignment provides a comprehensive overview of fundamental accounting principles through the analysis of various journals, ledgers, and financial statements. It includes detailed journal entries, such as those for sales returns, dividends, bad debts, and depreciation, along with entries for closing the books. The solution presents the Cash Receipts Journal, Cash Payments Journal, Sales Journal, and Purchases Journal, demonstrating the flow of financial transactions. Subsidiary ledgers for Accounts Receivable and Accounts Payable are provided to track individual customer and vendor transactions. Furthermore, the General Ledger is meticulously presented, showing the balances and movements of various accounts, including assets, liabilities, equity, revenue, and expenses. The assignment culminates in the closing entries and the transfer of profit to retained earnings, illustrating the accounting cycle from start to finish. This assignment serves as a valuable resource for students studying financial accounting.

General Journal
Date Account Post Ref. Debit Credit
Jun 11 Wagner Violins 200/200-2 18
,900
Purchase Returns and Allowances 502 18,900
(Defective material returned)
Jun 22 Sales Returns and Allowances 402 23
,562
Chopin Pianos 101/101-3 23,562
(Defective material returned)
Jun 29 Dividends Declared 302 177
,100
Dividend Payable 206 177,100
(Dividend payable)
Jun 30 Bad Debts Expense 613 29
,610
Ludwig Trumpets 101/101-4 29,610
(Ludwig become insolvent)
Jun 30 Supplies Expense 604 71
,190
Store Supplies 102 71,190
(Supplies consumed during the period)
Jun 30 Rent Expense 605 246
,537
Prepaid Store Rent 104 246,537
(Rent for the period)
Jun 30 Insurance Expense 606 7,
560
Prepaid Insurance 105 7,560
(Insurance for the period)
Jun 30 Depreciation Expense - Showroom Fittings 602 56
,700
Accumulated Depreciation-Showroom Fittings 151 56,700
(Depreciation for the period charged)
Jun 30 Depreciation Expense – Equipment 603 17
,010
Accumulated Depreciation - Equipment 161 17,010
(Depreciation for the period charged)
Jun 30 Interest Expense 608 38
,945
Interest Payable 201 38,945

(Interest payable on loan)
Jun 30 Utilities expense 609 6,
426
Utilities Payable 202 6,426
(Telephone expenses payable)
Jun 30 Wages Expense - Sales Staff 601 8,
910
Wages Payable 203 8,910
(Wages payable to sales staff)
Jun 30 Salaries Expense – Office Staff 612 36
,729
Salaries Payable 204 36,729
(Salaries payable to office staff)
Jun 30 Tax Expense 610 86
,400
Tax Payable 205 86,400
(Tax payable for the period)
Jun 30 Profit and Loss Summary 303 5,693
,141
Inventory 103 781,200
Sales Discounts (Discount Allowed) 401 33,075
Sales Returns and Allowances 402 32,319
Purchases 500 2,175,705
Freight-Out 600 19,908
Wages Expense - Sales Staff 601 1,101,771
Depreciation Expense - Showroom Fittings 602 56,700
Depreciation Expense - Equipment 603 17,010
Supplies Expense 604 71,190
Rent Expense 605 246,537
Insurance Expense 606 7,560
Advertising Expense 607 43,848
Interest Expense 608 38,945
Utilities expense 609 64,890
Tax Expense 610 86,400
Sundry Expenses 611 15,624
Salaries Expense – Office Staff 612 870,849
Bad Debts Expense 613 29,610
(Closing entry)
Jun 30 Sales Revenue 400 4,440
,555
Purchase Discounts (Discount Received) 501 26
,446
Purchase Returns and Allowances 502 29
,043
Inventory 103 1,416
,492
Profit and Loss Summary 303 5,912,536
(Closing entry)
Jun 30 Profit and Loss Summary 303 219

,395
Retained Profits 301 219,395
(Profit transferred to retained profits)
Cash Receipts Journal
Date Account Post
Ref.
Cash at
Bank
(100)
Sales
Discounts
(401)
Sales
(400)
Accounts
Receivable
(101)
Other
DR DR CR CR CR
Jun 1 Amadeus Cellos 101-1 95,256
9
5,256
Jun 4 Sales Revenue 400 19,278 19,278
Jun 8 Chopin Pianos 101-3 65,142
6
5,142
Jun 12 Sales Revenue 400 26,334 26,334
Jun 19 Sales Revenue 400 25,011 25,011
Jun 25 Chopin Pianos 101-3 98,784 2,016
1
00,800
Jun 26 Sales Revenue 400 39,312 39,312
Jun 28 Bach Guitars 101-2 116,424
1
16,424
Jun 30 Share Capital 300 126,000
126,00
0
Jun 30 Sales Revenue 400 23,436 23,436
Total 634,977 2,016 133,371
3
77,622
126,00
0
Cash Payments Journal
Date Account Chq. Post Other Accounts Purchase Cash at Purchase

No. Ref.
Payable
(200) s (550) Bank (100) Discounts
(501)
DR DR DR CR CR
Jun 1 Freight-Out 153 600 7,
560
7,
560
Jun 3 Schubert
Synthesisers 154 200-1 43,
470
43,
470
Jun 9 Store Supplies 155 102 5,
544
5,
544
Jun 16 Freight-Out 156 600 9,
450
9,
450
Jun 16 Salaries Expense -
Office Staff 157 612 73,
458
73,
458
Jun 16 Wages Expense -
Sales Staff 158 601 62,
370
62,
370
Jun 18 Wagner Violins 159 200-2 149,
814
148
,316 1,498
Jun 23 Sundry Expenses 160 611 12,
600
12,
600
Jun 29 Wagner Violins 161 200-2 75,
600
74,
844 756
Jun 29 Wages Expense -
Sales Staff 162 601 62,
370
62,
370
Total 233,
352
268
,884 - 499
,982 2,254
Sales Journal
Date Invoice No. Account Post Ref. Amount
Ju
n 1 910 Bach Guitars 101-2 68,292
Ju
n 10 911 Amadeus Cellos 101-1 68,796
Ju
n 16 912 Chopin Pianos 101-3 124,362
Total 261,450
Purchases Journal

Date Invoice Date Account Terms Post Ref. Amount
Ju
n 9 08-Jun-18 Wagner Violins 1/10, n/45 200-2 58,590
Ju
n 15 14-Jun-18 Schubert Synthesisers 2/10, n/30 200-1 96,390
Ju
n 24 22-Jun-18 Wagner Violins 1/10, n/45 200-2 93,870
Total 248,850
Accounts Receivable Subsidiary Ledger
Amadeus Cellos 101-1
Date Explanation Post Ref. Debit Credit Balance
May 3
1 Balance 95,256 DR
Jun 1 Repayment CRJ 95,256 0
Jun 1
0 Credit sale SJ 68,796 68,796 DR
Bach Guitars 101-2
Date Explanation Post Ref. Debit Credit Balance
May 3
1 Balance 48,132 DR
Jun 1 Credit sale SJ 68,292 116,424 DR
Jun 2
8 Repayment CRJ 116,42
4 0
Chopin Pianos 101-3

Date Explanation Post Ref. Debit Credit Balance
May 3
1 Balance 65,142 DR
Jun 8 Repayment CRJ 65,142 0
Jun 1
6 Credit sale SJ 124,362 124,362 DR
Jun 2
2 Material returned GJ 23,562 100,800 DR
Jun 2
5 Repayment CRJ 100,80
0 0
Ludwig Trumpets 101-4
Date Explanation Post Ref. Debit Credit Balance
May 3
1 Balance 29,610 DR
Jun 3
0 Bad Debts due to insolvency GJ 29,610 0
Accounts Payable Subsidiary Ledger
Schubert Synthesisers 200-1
Date Explanation Invoice
Date
Post
Ref. Debit Credit Balance
Ma
y 31 Balance 43,470 CR
Jun 3 Repayment CPJ 43,470 0
Jun 15 Credit purchase 14-Jun-18 PJ 96,390 96,390 CR

Wagner Violins 200-2
Date Explanation Invoice
Date
Post
Ref. Debit Credit Balance
Ma
y 31 Balance 110,124 CR
Jun 9 Credit purchase 08-Jun-18 PJ 58,590 168,714 CR
Jun 11 Defective material
returned GJ 18,900 149,814 CR
Jun 18 Repayment CPJ 149,81
4 0
Jun 24 Credit purchase 22-Jun-18 PJ 93,870 93,870 CR
Jun 29 Repayment CPJ 75,600 18,270 CR
General Ledger
Cash at Bank 100
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 614,628 DR
Jun 30 Total from cash receipts journal CRJ 634,977 1,249,60
5 DR
Jun 30 Total from cash payments journal CPJ 499,982 749,623 DR
Accounts Receivable Control 101
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 238,140 DR
Jun 22 Sales return from Chopin Pianos GJ 23,562 214,578 DR
Jun 30 Total from sales journal SJ 261,450 476,028 DR
Jun 30 Total from cash receipts journal CRJ 377,622 98,406 DR

Jun 30 Bad Debts due to insolvency GJ 29,610 68,796 DR
Store Supplies 102
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 151,011 DR
Jun 9 Supplies purchased CPJ 5,544 156,555 DR
Jun 30 Supplies consumed GJ 71,190 85,365 DR
Inventory 103
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 781,200 DR
Jun 30 Closing entry (opening inventory) GJ 781,200 0
Jun 30 Closing entry (closing inventory) GJ 1,416,492 1,416,49
2 DR
Prepaid Store Rent 104
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 739,620 DR
Jun 30 Rent expired GJ 246,537 493,083 DR

Prepaid Insurance 105
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 11,340 DR
Jun 30 Insurance expired GJ 7,560 3,780 DR
Showroom Fittings 150
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 510,300 DR
Accumulated Depreciation-Showroom Fittings 151
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Depreciation for the period GJ 56,700 56,700 CR

Equipment 160
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 173,250 DR
Accumulated Depreciation - Equipment 161
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 85,050 CR
Jun 30 Depreciation for the period GJ 17,010 102,060 CR
Accounts Payable Control 200
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 153,594 CR
Jun 11 Return of defective material GJ 18,900 134,694 CR
Jun 30 Total from purchases journal PJ 248,850 383,544 CR
Jun 30 Total from cash payments journal CPJ 268,884 114,660 CR

Interest Payable 201
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Interest payable on loan GJ 38,945 38,945 CR
Utilities Payable 202
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Telephone expenses payable GJ 6,426 6,426 CR
Jun 30
Wages Payable 203
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Wages payable for one day GJ 8,910 8,910 CR

Salaries Payable 204
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Salaries payable for 15 days GJ 36,729 36,729 CR
Tax Payable 205
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Taxes payable for the period GJ 86,400 86,400 CR
Dividend Payable 206
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Dividend declared GJ 177,100 177,100 CR

Mortgage Loan 250
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 606,942 CR
Share Capital 300
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 1,134,00
0 CR
Jun 30 Issue of new shares CRJ 126,000 1,260,00
0 CR
Retained Profits 301
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 963,522 CR
Jun 30 Transfer from Profit and Loss
Summary GJ 219,395 1,182,91
7 CR
Dividends Declared 302

Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Dividend declared GJ 177,100 177,100 DR
Profit and Loss Summary 303
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Closing entry to debit the Profit
and Loss Summary account GJ 5,693,141 5,693,14
1 DR
Jun 30 Closing entry to credit the Profit
and Loss Summary account GJ 5,912,536 219,395 CR
Jun 30 Transfer to Retained Earnings GJ 219,395 0
Sales Revenue 400
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 4,045,73
4 CR
Jun 30 Total from sales journal SJ 261,450 4,307,18
4 CR
Jun 30 Total from cash receipts journal CRJ 133,371 4,440,55
5 CR
Jun 30 Closing entry GJ 4,440,555 0

Sales Discounts (Discount Allowed) 401
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 31,059 DR
Jun 30 Total from cash receipts journal CRJ 2,016 33,075 DR
Jun 30 Closing entry GJ 33,075 0
Sales Returns and Allowances 402
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 8,757 DR
Jun 19 Sales return from Chopin Pianos GJ 23,562 32,319 DR
Jun 30 Closing entry GJ 32,319 0
Purchases 500
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 1,926,85
5 DR
Jun 30 Total from purchases journal PJ 248,850 2,175,70
5 DR
Jun 30 Total from cash payments journal CPJ 0 2,175,70
5 DR
Jun 30 Closing entry GJ 2,175,705 0

Purchase Discounts (Discount Received) 501
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 24,192 CR
Jun 30 Total from cash payments journal CPJ 2,254 26,446 CR
Jun 30 Closing entry GJ 26,446 0
Purchase Returns and Allowances 502
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 10,143 CR
Jun 11 Defective material returned GJ 18,900 29,043 CR
Jun 30 Closing entry GJ 29,043 0
Freight-Out 600
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 2,898 DR
Jun 1 Freight paid on sales CPJ 7,560 10,458 DR
Jun 16 Freight paid on sales CPJ 9,450 19,908 DR
Jun 30 Closing entry GJ 19,908 0

Wages Expense - Sales Staff 601
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 968,121 DR
Jun 16 Wages paid CPJ 62,370 1,030,49
1 DR
Jun 29 Wages paid CPJ 62,370 1,092,86
1 DR
Jun 30 Accrued wages GJ 8,910 1,101,77
1 DR
Jun 30 Closing entry GJ 1,101,771 0
Depreciation Expense - Showroom Fittings 602
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Depreciation for the period GJ 56,700 56,700 DR
Jun 30 Closing entry GJ 56,700 0
Depreciation Expense - Equipment 603
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Depreciation for the period GJ 17,010 17,010 DR
Jun 30 Closing entry GJ 17,010 0

Supplies Expense 604
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Supplies consumed GJ 71,190 71,190 DR
Jun 30 Closing entry GJ 71,190 0
Rent Expense 605
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Rent expired GJ 246,537 246,537 DR
Jun 30 Closing entry GJ 246,537 0
Insurance Expense 606
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Insurance expired GJ 7,560 7,560 DR
Jun 30 Closing entry GJ 7,560 0

Advertising Expense 607
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 43,848 DR
Jun 30 Owner salary CPJ 43,848 DR
Jun 30 Closing entry GJ 43,848 0
Interest Expense 608
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Accrued interest GJ 38,945 38,945 DR
Jun 30 Closing entry GJ 38,945 0
Utilities expense 609
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 58,464 DR
Jun 30 Accrued telephone expenses GJ 6,426 64,890 DR
Jun 30 Closing entry GJ 64,890 0
Tax Expense 610

Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 0
Jun 30 Taxes payable for the period GJ 86,400 86,400 DR
Jun 30 Closing entry GJ 86,400 0
Sundry Expenses 611
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 3,024 DR
Jun 23 Annual gift CPJ 12,600 15,624 DR
Jun 30 Closing entry GJ 15,624 0
Salaries Expense - Office Staff 612
Date Explanation Post
Ref. Debit Credit Balance
May 31 Balance 760,662 DR
Jun 16 Salary paid CPJ 73,458 834,120 DR
Jun 30 Closing entry GJ 834,120 0
Bad Debts Expense 613
Date Explanation Post
Ref. Debit Credit Balance

May 31 Balance 0
Jun 30 Bad debts due to insolvency GJ 29,610 29,610 DR
Jun 30 Closing entry GJ 29,610 0

Worksheet
Acct.
No. Account Name
Unadjusted Trial
Balance Adjustments Adjusted Trial
Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
100 Cash at Bank 749,623 749,623 749,623
101 Accounts Receivable Control 98,406 29,610 68,796 68,796
102 Store Supplies 156,555 71,190 85,365 85,365
103 Inventory 781,200 781,200 781,200 1,416,492 1,416,492
104 Prepaid Store Rent 739,620 246,537 493,083 493,083
105 Prepaid Insurance 11,340 7,560 3,780 3,780
150 Showroom Fittings 510,300 510,300 510,300
151 Accumulated Depreciation-
Showroom Fittings 0 56,700 56,700 56,700
160 Equipment 173,250 173,250 173,250
161 Accumulated Depreciation -
Equipment
85,050 17,010 102,060 102,060
200 Accounts Payable Control 114,660 114,660 114,660
201 Interest Payable 0 38,945 38,945 38,945
202 Utilities Payable 0 6,426 6,426 6,426
203 Wages Payable 0 8,910 8,910 8,910
204 Salaries Payable 0 36,729 36,729 36,729
205 Tax Payable 0 86,400 86,400 86,400
206 Dividend Payable 177,100 177,100 177,100
250 Mortgage Loan 606,942 606,942 606,942
300 Share Capital 1,260,000 1,260,00
0
1,260,000
301 Retained Profits 963,522 963,522 963,522
302 Dividends Declared 177,100 177,100 177,100
303 Profit and Loss Summary 0 0 0
400 Sales Revenue 4,440,555 4,440,55
5
4,440,555
401 Sales Discounts (Discount
Allowed)
33,075 33,075 33,075
402 Sales Returns and Allowances 32,319 32,319 32,319
500 Purchases 2,175,705 2,175,705 2,175,705
501 Purchase Discounts (Discount
Received)
26,446 26,446 26,446
502 Purchase Returns and
Allowances
29,043 29,043 29,043
600 Freight-Out 19,908 19,908 19,908
601 Wages Expense - Sales Staff 1,092,861 8,910 1,101,771 1,101,771

602 Depreciation Expense - Showroom
Fittings 0 56,700 56,700 56,700
603 Depreciation Expense -
Equipment 0 17,010 17,010 17,010
604 Supplies Expense 0 71,190 71,190 71,190
605 Rent Expense 0 246,537 246,537 246,537
606 Insurance Expense 0 7,560 7,560 7,560
607 Advertising Expense 43,848 43,848 43,848
608 Interest Expense 0 38,945 38,945 38,945
609 Utilities expense 58,464 6,426 64,890 64,890
610 Tax Expense 0 86,400 86,400 86,400
611 Sundry Expenses 15,624 15,624 15,624
612 Salaries Expense – Office Staff 834,120 36,729 870,849 870,849
613 Bad Debts Expense 0 29,610 29,610 29,610
Totals 7,703,318 7,703,318 606,017 606,017 7,954,438 7,954,43
8 5,693,141 5,912,536 3,677,789 3,458,394
Profit/loss 219,395 219,395
Totals 5,912,536 5,912,536 3,677,789 3,677,789

Schedules of Subsidiary Ledgers
Schedule of Accounts Receivable
As at 30 June 2018
Acc. No. Account Amount
101-1 Amadeus Cellos 68,796
101-2 Bach Guitars -
101-3 Chopin Pianos -
101-4 Ludwig Trumpets -
TOTAL 68,796
Schedule of Accounts Payable
As at 30 June 2018
Acc.
No. Account Amount
200-1 Schubert Synthesisers 96,390
200-2 Wagner Violins 18,270
TOTAL 114,660
Income Statement
For the month ended 30 June 2018

Gross Sales 4,440,555
Less: Sales Returns -32,319
Less: Sales Discounts -33,075
Net Sales 4,375,161
Purchases 2,175,705
Purchase Returns and Allowances -29,043
Opening inventory 781,200
Closing inventory -1,416,492
Cost of Goods Sold 1,511,370
Gross Profit 2,863,791
Purchase Discounts (Discount Received) 26,446
Other Revenue 26,446
Expenses
Selling Expenses
Freight-Out 19,908
Wages Expense - Sales Staff 1,101,77
1
Depreciation Expense - Showroom
Fittings 56,700
Depreciation Expense - Equipment 17,010
Supplies Expense 71,190
Rent Expense 246,537
Insurance Expense 7,560
Advertising Expense 43,848
Utilities expense 64,890
1,629,414
Administration Expenses
Sundry Expenses 15,624
Salaries Expense – Office Staff 870,849
886,473
Financial Expenses
Interest Expense 38,945
Bad Debts Expense 29,610
68,555
Total Expenses 2,584,442
Profit Before Income Tax 305,795
Income Tax Expense 86,400
Profit After Income Tax $219,395

Statement of Financial Position
As at 30 June 2018
ASSETS
Current Assets
Cash at Bank 749,623
Accounts Receivable Control 68,796
Store Supplies 85,365
Inventory 1,416,492
Prepaid Store Rent 493,083
Prepaid Insurance 3,780
Total Current Assets 2,817,139
Non-current Assets
Showroom Fittings 510,300
Accumulated Depreciation-Showroom
Fittings (56,700)
Equipment 173,250
Accumulated Depreciation - Equipment (102,060)
Total Non-Current Assets 524,790
TOTAL ASSETS 3,341,929
LIABILITIES
Current Liabilities
Accounts Payable Control 114,660
Interest Payable 38,945
Utilities Payable 6,426
Wages Payable 8,910
Salaries Payable 36,729
Tax Payable 86,400
Dividend Payable 177,100
Total Current Liabilities 469,170
Non-current Liabilities
Mortgage Loan 606,942
Total Non-Current Liabilities 606,942
TOTAL LIABILITIES 1,076,112
SHAREHOLEDER'S EQUITY
Share Capital 1,260,000
Retained Profts 1,182,917
Dividends Declared -177,100
Total Shareholder's Equity 2,265,817
TOTAL LIABILITES & EQUITY 3,341,929

Post-closing trial balance
As at 30 Jun 2018
Account No. Name Debit
($)
Credit
($)
100 Cash at Bank 749,623
101 Accounts Receivable Control 68,796
102 Store Supplies 85,365
103 Inventory 1,416,492
104 Prepaid Store Rent 493,083
105 Prepaid Insurance 3,780
150 Showroom Fittings 510,300
151 Accumulated Depreciation-Showroom
Fittings
56,700
160 Equipment 173,250
161 Accumulated Depreciation - Equipment 102,060
200 Accounts Payable Control 114,660
201 Interest Payable 38,945
202 Utilities Payable 6,426
203 Wages Payable 8,910
204 Salaries Payable 36,729
205 Tax Payable 86,400
206 Dividend Payable 177,100
250 Mortgage Loan 606,942
300 Share Capital 1,260,000
301 Retained Profits 1,182,917
302 Dividends Declared 177,100
303 Profit and Loss Summary 0
Total 3,677,789 3,677,789