You are an accountant for The Flower Shoppe. Your supervisor has asked you to help her prepare the year-end financial statements. Before you do, she wants to ensure that you understand some main points.
The following is additional information about the Flower Shoppe that is needed for financial-statement preparation:
The Flower Shoppe | ||
Adjusted Trial Balance | ||
December 31, 2008 | ||
Debit | Credit | |
Cash | $22,750 | |
Accounts Receivable | 3,200 | |
Inventory | 8,000 | |
Land | 27,000 | |
Building | 56,000 | |
Accumulated Depreciation | 16,800 | |
Accounts Payable | 4,600 | |
Accrued Expenses | 2,500 | |
Common Stock | 20,000 | |
Additional Paid-in Capital | 10,000 | |
Dividends | 1,200 | |
Retained Earnings | 53,405 | |
Sales | 112,020 | |
Returns | 1,300 | |
Purchases | 47,000 | |
Salaries | 38,000 | |
Supplies | 870 | |
Utilities | 5,225 | |
Telephone | 2,850 | |
Bank Charges | 330 | |
Depreciation Expense | 5,600 | |
$219,325 | $219,325 |
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