generales, Capital, 01/01/2022 650,000

Add:
profit 0
Total 650,000
Less: Withdrawals 0
Total: 650,000
Revenues
auditing rev 1,361,500
less: expenses
Depreciation - building 55,000
depreciation - office equip 60,000
Office supplies expense 96,000
professional development
expense 86,500
rent expense 52,500
salaries expense 735,000
travel expense 41,000
utilities expense 18,000
1,144,000
TOTAL: 217,500

Cullano, Capital, 1/1/2022 1,193,500

Add: Additional Investment 22,000
Profit 217,500
Total 1,433,000
less: Withdrawals -165,000
Cullano, Capital, ending 1,268,000

ASSET

CURRENT ASSET
Cash 118,500
Notes Receivable 60,000
Accounts Receivable 198,000
Office Supplies 28,000
Total Current Asset: 404,500
PPE
Land 75,000
Building 750,000
Accumulated Dep. - Bldng 110,000 640,000
Office Equipment 362,500
Accumulated Dep. - OE 120,000 242,500
TOTAL ASSETS: 1,362,000

LIABILITIES
CURRENT LIABILITIES
Accounts Payable 63,500
Salaries Payable 30,500
Total Current Liabilities 94,000
 EQUITY
Cullano, Capital, Ending 1,268,000
TOTAL LIABILITIES AND
EQUITY 1,362,000
Printing Revenues 8,130,000
Income Summary 8,130,000

Income Summary 3,730,000

Supplies Expense 710,000
Salaries Expense 2,270,000
Depreciation Expense 250,000
Repairs Expense 10,000
Telephone Expense 20,000
Utilities Expense 80,000
Interest Expense 300,000
Miscellaneous Expense 90,000

Income Summary 4,400,000

Labalan, Capital 4,400,000

Labalan, Capital 1,500,000

Labalan, Withdrawals 1,500,000

#VALUE!
Service Revenues 1,065,000
Income Summary 1,065,000

Income Summary 405,000

Supplies Expense 20,000
Salaries Expense 295,000
Depreciation
Expense - Furniture 30,000
Depreciation
Expense - Building 60,000

Income Summary 660,000

Labalan, Capital 660,000

Labalan, Capital 524,000

Labalan, Withdrawa 524,000
 Chrisitne Sousa Bags
WORKSHEET
31-Dec-22

ACCOUNT TITLES TRIAL BALANCE ADJUSTMENTS

Cash 72,000.00
Accounts Receivable 136,000.00
Merchandise Inventory 598,000.00
Prepaid Advertising 75,000.00 25,000.00
Office Supplies 42,000.00 17,000.00
Land 400,000.00
Office Building 1,600,000.00
Accumulated Dep. - Office Building 100,000.00 15,000.00
Office Equipment 570,000.00
Accumulated Dep. -Office Equipment 150,000.00 20,000.00
Notes Payable (due in 2 years) 200,000.00
Accounts Payable 74,000.00
Mortgage Payable 1,100,000.00
Sousa, Capital 1,510,000.00
Sousa, Withdrawals 200,000.00
Sales 4,600,000.00
Sales Returns and Allowances 187,000.00
Sales Discounts 161,000.00
Purchases 2,643,000.00
Purchase Returns and Allowances 133,000.00
Purchase Discounts 172,000.00
Transportation In 72,000.00
Salaries Expense 862,000.00 21,000.00
Insurance Expense 25,000.00
Interest Expense 208,000.00
Travel Expense 188,000.00
TOTAL 8,039,000.00 8,039,000.00
Office Supplies Expense 17,000.00
Advertising Expense 25,000.00
Salaries Payable 21,000.00
Depreciation Expense - Office Building 15,000.00
Depreciation Expense - Office Equip. 20,000.00
98,000.00 98,000.00
NET PROFIT
TOTAL
Bags

INCOME STATEMENT BALANCE SHEET

72,000.00
136,000.00
598,000.00 723,000.00 723,000.00
50,000.00
25,000.00
400,000.00
1,600,000.00
115,000.00
570,000.00
170,000.00
200,000.00
74,000.00
1,100,000.00
1,510,000.00
200,000.00
4,600,000.00
187,000.00
161,000.00
2,643,000.00
133,000.00
172,000.00
72,000.00
883,000.00
25,000.00
208,000.00
188,000.00

17,000.00
25,000.00
21,000.00
15,000.00
20,000.00
5,042,000.00 3,190,000.00
586,000.00 586,000.00
5,628,000.00 5,628,000.00 3,776,000.00 3,776,000.00
Office Supplies Expense 17,000.00
Office Supplies 17,000.00

Advertising Expense 25,000.00

Prepaid Advertising 25,000.00

Salaries Expense 21,000.00

Salaries Payable 21,000.00

Depreciation Expense 15,000.00

Accumulated Depreciation - OB 15,000.00

Depreciation Expense 20,000.00

Accumulated Depreciation - OE 20,000.00

Merchandise Inventory, End 723,000.00

Income Summary 723,000.00
 Chrisitne Sousa Bags
INCOME STATEMENT
For the Year Ended Dec. 31, 2022
NET SALES
Gross Sales
less: Sales Returns and Allowances 187,000.00
Sales Discounts 161,000.00
Net Sales
COST OF SALES
Merchandise Inventory, beg. 598,000.00
Purchases 2,643,000.00
less: Purchase Returns and Allowances 133,000.00
Purchase Discounts 172,000.00 305,000.00
Net Purchases 2,338,000.00
Transportation In 72,000.00
Net Cost of Purchases 2,410,000.00
Total Goods Available for Sale 3,008,000.00
less: Merchandise Inventory, end. 723,000.00
Cost of Sales
GROSS PROFIT
Operating Expenses
Selling Expenses
Advertising Expense 25,000.00
Total Selling Expenses 25,000.00
Administrative Expenses
Salaries Expense 883,000.00
Insurance Expense 25,000.00
Office Supplies Expense 17,000.00
Travel Expense 188,000.00
Depreciation Expense - Office Build. 15,000.00
Depreciation Expense - Office Equip. 20,000.00
Total Administrative Expense 1,148,000.00
Total Operating Expenses
Operating Profit
Interest Expense
PROFIT

Chrisitne Sousa Bags

Statement of Changes in Equity
For the Year Ended Dec. 31, 2022
Christine Sousa, Owner's Equity, 1/1/22 1510000
Add: Profit 586000
Total 2096000
Less: Withdrawals 200000
Christine Sousa, Owner's Equity, 12/31/22 1896000

Chrisitne Sousa Bags

Balance Sheet
31-Dec-22

ASSET
Current Assets
Cash 72000
Accounts Receivable 136000
Merchandise Inventory 723000
Prepaid Advertising 50000
Office Supplies 25000
Total Current Assets 1006000
Property, Plant, and Equipment
Land 400000
Office Building 1600000
less: Accumulated Depreciation 115000 1485000
Office Equipment 570000
less: Accumulated Depreciation 170000 400000
Total Non-Current Assets 2285000
TOTAL ASSETS 3291000
LIABILITIES
Current Liabilities
Accounts Payable 74000
Mortgage Payable 1,100,000
Salaries Payable 21000
Total Current Liabilities 1195000
Non-Current Liabilities
Notes Payable due 2 years 200000
TOTAL LIABILITIES 1395000
OWNER'S EQUITY
Christine Sousa, Capital, ending 1896000
TOTAL LIABILITIES AND OWNER'S EQUITY 3291000
4,600,000.00

348,000.00
4,252,000.00

2,285,000.00
1,967,000.00

1,173,000.00
794,000.00
208,000.00
586,000.00