Page 259 - Accounting Principles (A Business Perspective)

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LYONS COMPANY
Worksheet
For the Month Ended 2010 December 31
Account Titles Statement of
Acct. Trial Balance Adjustments Adjusted Trial Income Retained Balance
no. Balance Statement Earnings Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit
100 Cash 19,663 19,663 19,653
103 Accounts Receivable 1,380 1,880 1,880
105 Merchandise Inventory,
December 1 7,000 7,000 7,000 8,000 8,000
200 Accounts Payable 700 700
300 Capital Stock 10,00 10,00
0 0
310 Retained Earnings, 15,00 15,00 15,000
Decernl5er 1 0 0
320 Dividends 2,000 2,000 2,000
410 Sales 14,60 14,60 14,600
0 0
411 Sales Discounts 44 44 44
412 Sales Returns and 20 20 20
Allowances
500 Purchases 6,000 6,000 6,000
SOI Purchases Discounts 82 82 32
502 Purchase Returns and 100 100 100
Allowances
503 Transportation-In 75 75 75
557 Miscellaneous Selling 2,650 2,650 2,650
Expenses
567 Miscellaneous
Administrative
Expenses 1,150 1,150 1,150
40,482 40,48 40,432 40,48 16,939 22,782
2 2
Net Income 5,843 5,343
22,732 22,782 2,000 20,343 29,543
Retained Earnings, 18,S43
December 31
20,843 20,843 29,543
Exhibit 40: Work sheet for a merchandising company

Accounting Principles: A Business Perspective 260 A Global Text