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Warren Sports Supply

Bank Reconciliation Statement


Dec-13
Bank Statement
Unadjusted balance, 12-31-2013

123,414.03

Add

Deposit in Transit

40,999.51

Deduct

Outstanding Checks

(59,926.54)

Adjustments

Amount
$ 4,800.00
$
483.00
$ 17,973.20
$ 2,857.89
$ 1,851.42
$ 1,585.82
$ 1,100.00
$ 10,000.00
$ 4,490.00
$ 1,985.21
$ 4,800.00
$ 8,000.00

Deposit made on 12-14-13


Bank Service Charges

Adjusted Balance 12-31-2013

(7,931.96)

96,555.04

General Ledger
$

96,582.54

(27.50)

96,555.04

Acct No
Account Title
10100 Cash
10200 Accounts Recievable
10210 Accounts Recievable from Employees
10300 Allowance for Doubtful Accounts
10400 Inventory
10500 Prepaid Expenses
10600 Marketable Securities
10700 Interest Recievable
10800 Fixed Assets
10900 Accumulated Depreciation
11000 Notes Recievable
20100 Accounts Payable
20200 Wages and Salaries Payable
20300 Federal Income taxes witheld
20400 State Unemployment Taxes Payable
20500 Federal Unemployment taxes Payable
20600 F.I.C.A taxes Payable
20700 Federal Income taxes Payable
20800 Dividends Payable
20900 Interest Payable
21000 Notes Payable
21100 Unearned Revenue
26000 Common Stock
27000 Paid in Capital in excess of par
28000 Income Summary
29000 Retained Earnings
29010 Dividends Declared
30100 Sales
30200 Sales Returns and Allowances
30300 Sales discount taken
30400 Costs of Good Sold
30500 Purchases
30600 Purchases return and allowances
30700 Purchases duscount taken
30800 Freight-In
30900 Gain/Loss on Sale of Fixed Assets
31000 Gain/Loss on Sale of Marketable Securities
31100 Interest/Dividend Income
31200 Miscellaneous Revenue

12-31-12 Post Closing Trial Bala


Debit
$
11,025.19
$
11,065.00

101,681.00

320,665.00

40100 Rent Expenses


40200 Advertising Expenses
40300 Office Supplies Expenses
40400 Depreciation Expense
40500 Wages and Salaries Expenses
40600 Payroll Tax Expense
40700 Federal Income Tax Expense
40800 Interest Payable
40900 Bad Debt Expense
41000 Other Operation Expense
TOTALS
Net Income (Loss)
TOTALS

444,436.19

444,436.19

Post Closing Trial Balance


Credit

3,250.81

12-31-12 Unadjusted Trial Balance


Debit
Credit
$
96,555.04
$
45,522.00
$
300.00
$
1,149.19
$
101,681.00
$
4,000.00
$
25,280.00
$

80,559.50

11,279.35

8,767.15

$
$
$
$
$

1,326.76
281.17
83.31
1,593.30
29,797.00

$
$
$
$

1,706.65
87.93
26.05
2,236.66

6,750.00

$
$

70,000.00
3,600.00

225,000.00

90,264.99

1,594,818.50

225,000.00

90,264.99
$

$
$
$

91,625.00

1,029,877.29

$
$

19,445.00
16,650.40

8,000.00

Debit

331,590.00

81,559.50
$

Adjustments

6,750.00

61,111.00
15,530.77
1,132,955.00
$
$

19,445.00
16,650.40

$
$
$
$

300.00
770.00
1,200.00
825.00

24,642.69

$
$
$
$
$

444,436.19

$
$

444,436.19

57,600.00
21,905.00
5,621.45
$

35,109.50

$
$
$

53,116.40
197.26
3,795.44

141,198.14
11,528.80

30,087.75
2,123,007.83

2,123,007.83

1,249,816.29

2,123,007.83

2,123,007.83

1,249,816.29

Adjustments
Credit
$
$
$
$

3,795.44
$
$
$
$

53,116.40

197.26

1,132,955.00

$
$
$
$

115,669.00

8,767.15

$
$
$
$
$
$
$
$
$

1,706.65
87.93
26.05
2,236.66
53,116.40
6,750.00
197.26
70,000.00
3,600.00

225,000.00

90,264.99

1,594,818.50

8,000.00

6,750.00

61,111.00
15,530.77
1,029,877.29
-

$
$
$
$
$

24,642.69

Income Statement
Debit

331,590.00

35,109.50
$

Adjusted Trial Balance


Debit
Credit
96,555.04
45,522.00
300.00
$
2,646.25
193,306.00
4,000.00
25,280.00

$
$
$
$

300.00
770.00
1,200.00
825.00

61,111.00
15,530.77
1,029,877.29

1,249,816.29

$
$
$
$
$
$
$
$
$
$
$

1,249,816.29

57,600.00
21,905.00
5,621.45
35,109.50
141,198.14
11,528.80
53,116.40
197.26
3,795.44
30,087.75
2,177,981.84

2,177,981.84

2,177,981.84

2,177,981.84

$
$
$
$
$
$
$
$
$
$
$
$
$

57,600.00
21,905.00
5,621.45
35,109.50
141,198.14
11,528.80
53,116.40
197.26
3,795.44
30,087.75
1,466,678.80
131,234.70
1,597,913.50

ncome Statement
Credit
$
$
$
$
$
$
$
$

$
$

1,594,818.50

$
$
$
$

300.00
770.00
1,200.00
825.00

Balance Sheet
Debit
Credit
96,555.04
45,522.00
300.00
$
2,646.25
193,306.00
4,000.00
25,280.00
331,590.00
$

115,669.00

8,767.15

$
$
$
$
$
$
$
$
$

1,706.65
87.93
26.05
2,236.66
53,116.40
6,750.00
197.26
70,000.00
3,600.00

225,000.00

90,264.99

8,000.00

6,750.00

1,597,913.50

711,303.04

1,597,913.50

711,303.04

$
$
$

580,068.34
131,234.70
711,303.04

WAREN SPORTS SUPPLY


STATEMENT OF INCOME AND RETAINED EARNINGS
For the Year Ended December 31, 2009
Revenue
Sales
Less:Sales Returns and Allowances
Less: Sales discount taken
Net Sales
Cost of Goods Sold
Beginning Inventory
Net Purchases
Freight In
Goods Available for Sale
Less Ending Inventory
Purchases return and allowances
Purchases duscount taken
Cost of Goods Sold
Gross margin
Operating Expenses
Rent Expenses
Advertising Expenses
Office Supplies Expenses
Depreciation Expense
Wages and Salaries Expenses
Payroll Tax Expense
Bad Debt Expense
Other Operation Expense
Total Operating Expenses
Operating Income
Non Operating Other Income
Other Income
Other Expense: Interest Payable
Income Before Taxes
Federal Income Tax
Net Income

$
101,681.00
$ 1,132,955.00
$
24,642.69
$ 1,259,278.69
$
193,306.00
$
19,445.00
$
16,650.40

Retained Earning Beganing of the year


Retained Earnings End of the Year
Earnings Per Coommon Share
Dividends Declared on 3000 Shares @ 2.25 each

NINGS
9

$ 1,594,818.50
$
61,111.00
$
15,530.77
$1,518,176.73

$1,029,877.29
$

488,299.44

$
$
$
$
$
$
$
$
$

57,600.00
21,905.00
5,621.45
35,109.50
141,198.14
11,528.80
3,795.44
30,087.75
306,846.08

181,453.36

3,095.00

197.26

184,351.10

53,116.40

131,234.70

90,264.99

221,499.69

43.74

6,750.00

WAREN SPORTS SUPPLY


BALANCE SHEET
AT DECEMBER 31, 2009
ASSETS
CURRENT ASSETS
CASH
Accounts Recievable - Less Allowance for DA
Inventory
Prepaid Expenses
Marketable Securities
Total Current Assets
Fixed Asset - Net of Depreciation
Notes Reciavable
Total Fixed Assets
Total Assets
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES
Accounts Payable
Payroll Taxes Witheld and Payable
Federal Income Tax Payable
Dividends Payable
Interest Payable
Total Current Liabilities
Note Payable
Unearned Revenue
Total Liabilities
STOCKHOLDERS EQUITY
Common Stock
Retained Earnings
Dividends Declared
Total Stockholders Equity
Total Liabilities and Stockholders Equity

$
$
$
$
$
$

96,555.04
43,175.75
193,306.00
4,000.00
25,280.00
362,316.79

$
$
$

215,921.00
8,000.00
223,921.00

586,237.79

$
$
$
$
$
$

8,767.15
4,057.29
53,116.40
6,750.00
197.26
72,888.10

$
$

70,000.00
3,600.00

146,488.10

$
$
$
$

225,000.00
221,499.69
6,750.00
439,749.69

586,237.79