Gratittude

Manufacturing Company
Worksheet
For the month ended October 31, 2013

Cost of Goods
Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Manufactured
DR CR DR CR DR CR DR CR DR CR DR CR
Cash 142,500 K 550,000 692,500 692,500

Accounts Receivable 71,900 J 950,000 K 550,000 471,900 471,900

Finished Goods Inventory 24,600 24,600 24,600 36,100 36,100
Work in Process Inventory 18,400 18,400 18,400 167,300 167,300
Raw Materials Inventory 16,700 16,700 16,700 191,700 191,700
Office Building 856,000 856,000 856,000
Accumulated Depreciation-Office Building 171,200 F 42,000 213,200 213,200
Office Equipment 455,000 455,000 455,000
Accumulated Depreciation-Office Equipment 182,000 F 21,500 203,500 203,500
Factory Equipment 724,000 724,000 724,000
Accumulated Depreciation-Factory Equipment 278,400 F 14,500 292,900 292,900
Notes Payable 100,000 100,000 100,000
Accounts Payable 40,000 A 450,000 843,200 843,200
D 317,500
E 35,700
Salaries and Wages Payable C 324,500 324,500 324,500
Income Taxes Payable 5,000 5,000 5,000
Share Capital 1,327,400 1,327,400 1,327,400
Retained Earnings (Accumulated Profits) 205,100 205,100 205,100
Sales J 950,000 950,000 950,000
Raw Materials issued for production B 275,000 275,000 275,000
Raw Materials purchases A 450,000 450,000 450,000
Direct Materials B 240,000 240,000 240,000
Direct Labor C 279,000 279,000 279,000
Factory Overhead (FOH)
FOH - Indirect Materials B 35,000 35,000 35,000
FOH - Indirect Labor C 45,500 45,500 45,500
FOH - Utilities D 128,600 128,600 128,600
FOH - Miscellaneous expenses E 14,500 14,500 14,500
FOH - Depreciation of factory equipment F 14,500 14,500 14,500
FOH - Over / Under Applied G 118,300 118,300 118,300
Cost of Goods Sold G 118,300 118,300 118,300
Operating Expenses
Freight Out D 116,400 116,400 116,400
Selling Expense - Miscellaneous E 12,300 12,300 12,300
Repairs and Maintenance D 72,500 72,500 72,500
Administrative Expense - miscellaneous E 8,900 8,900 8,900
Depreciation expense - building F 42,000 42,000 42,000
Depreciation expense - office equipment F 21,500 21,500 21,500
Totals 2,309,100 2,309,100 3,099,000 3,099,000 4,858,100 4,858,100 1,360,500 634,000
Cost of Goods Manufactured 726,500 726,500
Totals 1,360,500 1,360,500 1,024,700 1,104,400 3,594,500 3,514,800
NET INCOME 79,700 79,700
TOTALS 1,104,400 1,104,400 3,594,500 3,594,500