Requirement: 'a'

Ac no.
100
103
107
108
160
161
170
171
200
210
300
304
400
507
511
515
568
571
581
591
595

Cohen Printing Co.

Trial Balance
December 31' 1994
Ac Titles

Cash
Accounts Receivable
Supplies on Hand
Prepaid Insurance
Office Furniture
Accumulated Depreciation-Office Furniture
Equipment
Accumulated Depreciation-Equipment
Accounts Payable
Salaries Payable
J.Cohen, Capital
J.Cohen, Drawing
Service Revenue
Salaries Expenses
Utility Expenses
Rental Expenses
Misc. Expenses
Insurance Expense
Supplies Expenses
Depreciation Expenses - Office Furnitures
Depreciation Expenses - Equipments

Trial Balance
dr.
cr.
$367,200
$81,000
$12,000
$18,000
$480,000
$240,000
$240,000
$120,000
$60,000

Adjustments
dr.
cr.

$9,600
$14,400
$48,000
$15,000
$36,000

$338,400
$108,000
$960,000
$360,000
$37,200
$10,800
$4,200

$36,000

$14,400
$9,600
$48,000
$15,000

Net Income
$1,718,400 $1,718,400

$123,000

$123,000

adjusted trial balance

dr.
cr.
$367,200
$81,000
$2,400
$3,600
$480,000
$288,000
$240,000
$135,000
$60,000
$36,000
$338,400
$108,000
$960,000
$396,000
$37,200
$10,800
$4,200
$14,400
$9,600
$48,000
$15,000

income statement
dr.
cr.

balance sheet
dr.
cr.
$367,200
$81,000
$2,400
$3,600
$480,000
$288,000
$240,000
$135,000
$60,000
$36,000
$338,400
$108,000

$960,000
$396,000
$37,200
$10,800
$4,200
$14,400
$9,600
$48,000
$15,000
$424,800

$1,817,400 $1,817,400

$960,000 $960,000 $1,282,200

$424,800
$1,282,200

Requirement: 'b'

Cohen Printing Co.

Income Statement
December 31, 1994

REVENUE:
Service Revenue

$960,000

EXPENSES:
Salaries Expenses
Utility Expenses
Rental Expenses
Misc. Expenses
Insurance Expense
Supplies Expenses
Depreciation Expenses - Office Furnitures
Depreciation Expenses - Equipments

$396,000
$37,200
$10,800
$4,200
$14,400
$9,600
$48,000
$15,000

Total Expenses

$535,200

NET INCOME

$424,800

Requirement: 'c'

Cohen Printing Co.

Statement of Owner's Equity
December 31, 1994

J.Cohen, Capital as on January 1, 1994

J.Cohen, Drawings during the year

$338,400
-$108,000

Net Income During the Year

$424,800

J.Cohen, Capital as on December 31, 1994

$655,200

Requirement: 'd'

Cohen Printing Co.

Balance Sheet
December 31, 1994

ASSETS:
Current Assets:
Cash
Accounts Receivable
Supplies on Hand
Prepaid Insurance

$367,200
$81,000
$2,400
$3,600

Total Current Assets:

$454,200

Long Term Assets:

Office Furniture
Accumulated Depreciation-Office Furniture
Office Furniture (Net)

$480,000
-$288,000

Equipments
Accumulated Depreciation-Equipment
Equipments (Net)

$240,000
-$135,000

$192,000

$105,000

Total Long Term Assets

$297,000

TOTAL ASSETS

$751,200

LIABILITIES AND OWNER'S EQUITY

Liabilities
Current Liabilities:
Accounts Payable
Salaries Payable
Total Current Liabilities
TOTAL LIABILITIES

$60,000
$36,000
$96,000
$96,000

Owner's Equity
J.Cohen Capital

$655,200

TOTAL LIABILITIES AND OWNER'S EQUITY

$751,200

Cohen Printing Co.

Balance Sheet
December 31, 1994