Awree Natcacnotus Inc.: Unadjusted Trial Balance

Lerriuqs is the owner of Awree Natcacnotus Inc. The company, which operates under US GAAP, buys and resells electronics throughout the Pacific Northwest, and its fiscal year runs from January 1 to December 31. Its first year of operations was 2011. The Company has one owner, Lerriuqs, and financial statements and adjustments are prepared only at the end of the year. The accountant has resigned and Lerriuqs has hired you to help with the business’s December transactions and preparation of Financial Statements. The following is the company’s unadjusted trial balance as at December 1, 2013.

AWREE NATCACNOTUS INC
TRIAL BALANCE
DECEMBER 1, 2013 DEBIT CREDIT

Bank
437,000

Petty Cash
10,000

Short-term Investments
50,000

Accounts Receivable
528,000

Inventory
36,000

Office Supplies
4,400

Prepaid Insurance
6,000

Prepaid Rent
24,000

Buildings
100,000

Plant & Equipment
75,000

Furniture & Fixtures
78,000

Accumulated Depreciation - Buildings

20,000

Accumulated Depreciation - Plant & Equipment

25,000

Accumulated Depreciation - Furniture & Fixtures

10,800

Accounts Payable

85,240

Salaries Payable

38,000

Short Term Notes Payable

24,000

Unearned Sales Revenue

46,500

Esach Bank Loan

200,000

Long-Term Notes Payable

60,000

Capital, Lerriuqs

512,000

Withdrawals, Lerriuqs
87,000

Sales

1,376,300

Rent Revenue

4,000

Sales Returns and Allowances
32,750

Cost of Goods Sold
690,380

Salaries Expense
200,000

Administration Expense
32,000

Insurance Expense
9,000

Rent Expense
20,000

Office Supplies Expense
4,800

Allowance for Doubtful Accounts

34,600

Miscellaneous Expense
12,000

Bank Charges
110

2,436,440

2,436,440
DECEMBER TRANSACTIONS
The Company had the following transactions during the month of December 2013.
1. On December 1, Lerriuqs added $100,000