ASSETS
Current portion,
bank loan
O/B
7,500
9,370
[D]
1,870
UT/B
Raw materials, wicks
266
O/B
3,130
[D]
3,396
UT/B
Accounts payable
O/B
5,604
5,604
[D]
UT/B
0
Income tax payable
O/B
15,000
15,000
[D]
UT/B
0
Production supplies
57
O/B
Common stock
O/B
72,000
Retained earnings
O/B
67,577
UT/B
UT/B
Accounts receivable
7,779
O/B
[R]
64,116
UT/B
56,337
Raw materials, jars
1,531
O/B
18,874
[D]
20,405
UT/B
Prepaid insurance
1,080
O/B
1,080
UT/B
Prepaid rent
1,800
O/B
1,800
UT/B
Office equipment
8,000
O/B
Production equipment
7,000
O/B
UT/B
A/D, office equipment
O/B
3,200
UT/B
3,200
7,000
UT/B
LIABILITIES & EQUITY
Production wages
payable
O/B
495
UT/B
495
Cash
169,851
O/B
246,690
[R]
[D]
204,559
211,982
UT/B
8,000
EJCC Super-T
429
[D]
486
UT/B
Raw materials, wax
7,020
O/B
15,750
[D]
22,770
UT/B
Finished goods
7,585
O/B
7,585
UT/B
Work-in-process
777
O/B
777
UT/B
72,000
A/D, prod. equipment
O/B
3,500
UT/B
3,500
EXPENSES
Rent expense
1,800
[D]
1,800
UT/B
67,577
Insurance expense
3,780
[D]
3,780
UT/B
Salaries expense
60,000
[D]
60,000
UT/B
Production wages
expense
49,005
[D]
49,005
UT/B
REVENUE
Property tax expense
6,000
[D]
6,000
UT/B
Utilities expense
4,070
[D]
4,070
UT/B
Sales revenue
[R]
173,880
UT/B
173,880
1
Long-term portion,
bank loan
O/B
37,500
UT/B
37,500
Sales tax payable
O/B
370
[R]
8,694
11,747
[D]
2,683
UT/B