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Salaries and Wages Expense Retained Earnings Advertising Expense COGS $ 2,500
$ 10,000 $ 1,000 $ 5,000 $ 2,000 Inventory $ 2,500
$ 4,000 $ 4,000 $ 2,000
$ 14,000 ### Advertising Expense $ 2,000
Cash $ 2,000
Debit Credit
$ 42,000
$ 42,000
Income Summary $ 10,825
$ 31,175 Retained Earnings $ 10,825
$ 12,100
$ 14,000
$ 1,000 Post Closing Trial Balance
$ 1,000 Account Title Debit Credit
$ 75 Cash $ 48,800
$ 2,000 Accounts Receivable $ 8,000
$ 100 Inventory $ 21,900
$ 900 Supplies $ 2,000
Prepaid Rent $ 2,000
Prepaid Insurance $ 1,100
Delivery Truck $ 15,000
Equipment $ 11,000
Accumulated Depreciation $ 900
Accounts Payable $ 9,000
Salaries and Wages Payable $ 4,000
Intrest Payable $ 75
Unearned Revenue $ 4,000
Notes Payable $ 9,000
Common Stock $ 68,000
Retained Earnings $ 14,825
Total $ 109,800 $ 109,800
ASSETS
Cash Inventory
$ 10,000 $ 3,000 $ 30,000 $ 1,500
$ 20,000 $ 1,200 $ 4,000 $ 3,000
$ 9,000 $ 6,000 $ 2,300
$ 5,000 $ 3,000 $ 2,500
$ 5,000 $ 10,000 $ 2,000
$ 8,000 $ 1,000 $ 800
$ 5,000 $ 10,000 $ 21,900
$ 8,000 $ 2,000
$ 9,000
$ 6,000
$ 48,800
Prepad Insurance
$ 1,200 $ 100
Prepaid Rent $ 1,100
$ 3,000 $ 1,000
$ 2,000
Delivery Truck
Accounts Receivable $ 15,000
$ 5,000 $ 5,000 $ 15,000
$ 8,000
$ 8,000
LIABILITIES
OWNER'S EQUITY
Supplies
$ 3,000 $ 1,000
$ 2,000
Accumulated Depreciation
$ 900
$ 900
Unearned Revenue
$ 4,000 $ 8,000
$ 4,000
COGS
$ 1,500
$ 3,000
$ 2,300
$ 2,500
$ 2,000
$ 800
$ 12,100
Advertising Expense
$ 2,000
$ 2,000
Rent Expense
$ 1,000
$ 1,000
Alpine Semiconductors
Income Statement
For the Month Ending Nov 30, 2017
Alpine Semiconductors
Balance Sheet
As of Nov 30, 2017
Assets
Current Assets Alpine Semiconductors
Cash $ 48,800 Statement of Cash Flow
Accounts Receivable $ 8,000 For the Month ended Nov 30, 2017
Inventory $ 21,900 Operating Activities
Supplies $ 2,000 Net Income $ 10,825
Prepaid Rent $ 2,000 Adjustments to Reconcile Net Income:
Prepaid Insurance $ 1,100 Depreciation Expense $ 900
Total Current Assets $ 83,800 Accounts Receivable $ (8,000)
Prepaid Insurance $ (1,100)
Fixed Assets Prepaid Rent $ (2,000)
Delivery Truck $ 15,000 Supplies $ (2,000)
Equipment $ 11,000 Inventory $ 8,100
Less: Accumulated Depreciation $ (900) Accounts Payable $ 9,000
Total Assets $ 108,900 Salaries and Wages Payable $ 4,000
Interest Payable $ 75
Liabilities and Stockholders' Equity Unearned Revenue $ 4,000
Current Liabilities Net Cash Provided by Operating Activities $ 23,800
Accounts Payable $ 9,000
Salaries and Wages Payable $ 4,000 Investing Activities
Unearned Revenue $ 4,000 Delivery Truck $ (15,000)
Interest Payable $ 75 Equipment $ (6,000)
Total Current Liabilities $ 17,075 Net Cash Provided by (Used For) Investing Activities $ (21,000)
Assets
Current Assets
Cash $ 48,800
Accounts Receivable $ 8,000
Inventory $ 21,900
Supplies $ 2,000
Prepaid Rent $ 2,000
Prepaid Insurance $ 1,100
Total Current Assets $ 83,800
Fixed Assets
Delivery Truck $ 15,000
Equipment $ 11,000
Less: Accumulated Depreciation $ (900)
Total Assets $ 108,900
Long-Term Liabilities
Note Payable $ 9,000
Total Liabilities $ 26,075
Stockholders' Equity
Common Stock $ 68,000
Retained Earnings $ 14,825
Total Stockholders' Equity $ 82,825
Total Liabilities and Stockholders' Equity $ 108,900
Alpine Semiconductors
Statement of Stockholders' Equity
For the Month Ended Nov 30, 2017
Investing Activities
Delivery Truck $ (15,000)
Equipment $ (6,000)
Net Cash Provided by (Used For) Investing Activities $ (21,000)
Financing Activities
Borrowing Cash through Notes Payable $ 9,000
Issuing of Common Stock $ 28,000
Paying Dividends $ (1,000)
Net Cash Provided From Investing Activities $ 36,000