looking for the Penn Foster final for Basswood furniture project

Anonymous
timer Asked: Nov 4th, 2017
account_balance_wallet $15

Question Description

in need of the final exam balance sheet and income statement -

Tutor Answer

PROF LEINSTEINARD
School: Rice University

Attached.

Basswood Furniture:
Trial Balance as of November 30, 2012
Acct.No.
100
107
110
120
125
140
170
170,1
180
180,1
185
185,1
200
210
211
212
213
214
215
221
222
230
300
300,1
401
401,1
401,2
500
505
505,1
505,2
510
515
520
525
530
535
540
550
560
570
580
590
TOTALS

Title
Debit
Cash-Business Checking
18513,18
Petty Cash
500
Accounts Receivable
17.986,00
Merchandise Inventory
31.500,00
Office Supplies Inventory
347,23
Prepaid Rent
2.000,00
Vehicles
48.000,00
Accumulated Depreciation-Vehicles
Equipment
23.500,80
Acumulated Depreciation-Equipment
Office Furniture and Equipment
6.125,04
Accumulated Depreciation-Office Furn and Equip.
Accounts Payable
Payroll Payable
Federal Income Tax Payable
Social Security Tax Payable
Medicare Tax Payable
State Income Tax Payable
City Income tax Payable
FUTA Tax Payable
SUTA Tax Payable
Sales Tax Payable
Ian Smith, Capital
Ian Smith, Drawing
0,00
Sales
Sales Return and Allowances
0,00
Sales Discounts
0,00
COGS-Cost of Goods Sold
0,00
Purchases
0,00
Purchase Returns and Allowances
Purchase Discounts
Payroll Expense
0,00
Payroll Tax Expense
0,00
Advertising Expense
0,00
Rent Expense
0,00
Office Supplies Expense
0,00
Telephone Expense
0,00
Utilities Expense
0,00
Supplies Expense
0,00
Miscellaneous Expense
0,00
Depreciation Expense
0,00
Cash Short and Over
0,00
Expense and Revenure Summary
0,00
148472,25

Credit

16624,86
14361,6
3.743,08
5.004,00
0,00
722
627,44
146,74
310,69
101,2
1.050,56
7.091,28
3.750,00
94938,80
0,00

0,00
0,00

148472,3

Basswood Furniture: Schedule of Accounts Payable November 30,2
Account Number Vendor

$ Amount

AP-010

Hemlock Gas and Electric Co.

AP-020

The Home Improvement Center

$353,00

AP-030

Carol's Wood Supplies

$631,00

AP-040

Atlantic Telephone Co.

$0,00

AP-050

Woodworker Supplies

$1.621,00

AP-060

Everything Wood

AP-070

Sally's Fabrics

AP-080

Two Guys Hardware

AP-090

Penn Furnishings

AP-100

Cheryl Wood Designs

$480,00

AP-110

Tom Baker

$130,00

AP-120

Wood Imaginations

$964,00

AP-130

Gates and Associates. Inc.

TOTAL

$0,00

$750,00
$0,00
$75,00
$0,00

$0,00
$5.004,00

CUSTOMER ACCOUNT/NAME: Wyane Shriver
Address: 1079 Hillwood Ave., Hemlock, PA 18951
DATE/invoice #
QUANTITY
ITEM
12/28/2012
1 Custom dining room, living room and bedroom set
job#132/form30
tax
down payment
12/6/2012 ck10769
PAYMENT
total

A/R
TOTAL
$26.886,79
$1.613,21
$14.250,00
$14.250,00
$0,00

CUSTOMER ACCOUNT/NAME: Janet Martinez
Address: 23 Crown Avenue, Hemlock, PA 18951
DATE/ #invoice
12/08/12/#2432
JOB#133

PREPAID/12/8/12
BALANCE

QUANTITY
1
1

ITEM
TABLE
CHAIR
TAX
form14

DELIVERED #133/12/14/12

A/R
AMOUNT
$600,00
$510,00
$66,60
$1.176,60
$1.176,60
$0,00

CUSTOMER ACCOUNT/NAME: Peter Schwab
Address: 23 Crown Avenue, Hemlock, PA 18951 A/R
DATE/ #invoice
QUANTITY
12/13/2012
1
12/13/2012 ck407
BALANCE

tax paid

ITEM
dining room set
form 20

50% dis

AMOUNT
$17.275,00
$8.637,50
$9.155,73
$518,23

COGS
DATE
5-Dec
5-Dec
7-Dec
12-Dec
14-Dec

CUSTOMER
WAYNE SHRIVER
MICHAEL'S FUR
JACK WILLIAMS
QUALITY FUR
PETER

AMOUNT
$14.250,00
$1.325,00
$291,50
$996,40
$17.275,00 50%=$8637.50

Basswood Furniture: Accounts Receivable
November 30,2013

ACCOUNT NUMBER

Customer

AR-010
AR-020
AR-030
AR-040
AR-050
AR-060
AR-070
AR-080
AR-090
AR-100
AR-110
AR-120
Total

Elizabeth Dante
Liya Designs
Yu Wei Creations
Capital Harware
The Antique Shoppe
Michael's Furniture
Kenny refinishing
Sam Little
Jim and Pearl Jones
Andy Mellow
Quality furnitue
Donna Bigelow

$AMOUNT
1.234,00
7.580,00
6.437,00
0,00
350,00
0,00
925,00
425,00
125,00
50,00
0,00
860,00
17.986,00

Check's Dposited
DATE
2-Dec
2-Dec
2-Dec
5-Dec
5-Dec
7-Dec
8-Dec
9-Dec
13-Dec
21-Dec
23-Dec
23-Dec
28-Dec
TOTAL

ACCOUNT
LIYA DESIGNS
Yu Wei Creations
Donna Bigelow
Wayne Shriver
Sam Little
Kenny Refinishing
Sam Little
Jim and Pearl Jones
Pete schwab
Elizabeth Dante
The Antique Shoppe
Andy Mellow
Wayne Shriver

CHECK NO AMOUNT
268 $7.580,00
1231 $6.437,00
421
$860,00
10178 $14.250,00
501
$200,00
42
$925,00
511
$225,00
149
$125,00
407 $9.155,75
631 $1.234,00
11304
$350,00
172
$50,00
10769 $14.250,00
$55.641,75

DATE

28-Dec

Dposited
ACCOUNT

AMOUNT

WITHDRAWAL

$5.000,00
$5.000,00

Draw account
DATE
WITHDRAW ck#
28-Dec $5.000,00 2288/form32 Ian Smith

Income Statement

[Basswood Furniture]

[November 30, 2012 and Jan 02, 2013]

Revenue
Sales revenue
(Less sales returns and allowances)
(Less sales Discounts)
Net Sales
Petty Cash
Prepaid Rent
Purchases
Less: Purchase Returns and Allowances
Less: Purchase Discounts
Net Pur...

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