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    Cost of goods manufactured and cost of goods sold statement

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    TRIPLE ENTERPRISES INC
    TRIAL BALANCE

    Debits Credits

    Cash $669.51
    Accounts Receivable $1,420,530.43
    Prepaid Insurance $5,147.72
    Allowance for Doubtful Acounts $73,214.87
    Inventory - Raw Material $256,364.04
    Inventory - Finished Goods $8,350.87
    Inventory - WIP $85,542.56
    Spare Parts - Inventory $69,905.15
    Deferred Income Tax $489,126.00
    Vehicles $286,528.81
    Equipment $8,609,796.45
    Equipment - Overhead $640,207.14
    Capital Lease $442,721.04
    Accumulated Depreciation $7,479,469.91
    Goodwill $1,225.00
    Prepaid - Other $70,239.40
    Current Portion Long Term Debt $133,373.99
    Accounts Payable $1,324,540.73
    Due to Officers $585,722.17
    Sales Tax Payable $9,632.63
    Payroll Withholdings $9,928.29
    Deferred Tax Liability $684,973.00
    Accrued Property Tax $2,289.98
    Payroll Taxes Payable $42,680.54
    Income Tax Payable $12,813.00
    Accrued Wages Payable $66,846.90
    Equipment Note $2,625.00
    Accrued - Other $54,937.17
    Loans Payable $923,511.75
    Chase auto Loan $41,597.67
    Capital Lease Obligations $330,407.41
    Common Stock $4,900.00
    Preffered Stock $770,000.00
    Retained Earnings $798,667.45
    Dividends $7,700.00
    Sales $3,458,758.87
    Interest Income $1,325.08
    Paper Expense $1,086,530.35
    Scrap Income $13,055.68
    Purchases - Raw Material $186,411.68
    Miscellaaneous - Direct Expense $19,445.49
    Outside Purchases Expense $261,235.24
    Ink Expense $94,452.76
    Utilities - Gas Expense $27,447.52
    Inventory Expense $36,877.00
    Inventory - Design Expense $142,363.80
    Design Rebate $43,972.70
    Inventory - Corrugated Expense $13,723.65
    Inventory - Binding Expense $20,245.94
    Depreciation - Direct Expense $168,062.59
    Equipment Lease (operating lease) Expense $96,000.00
    WIP Labor Adjustment $10,980.84
    Salaries Direct Expense $891,784.66
    Payroll Taxes - Direct Expense $66,141.34
    Equipment Repair and Maintenance $107,314.26
    Frieght Expense $22,251.06
    Salaries - Officers $124,053.89
    Salaries Overhead Expense $141,353.64
    Salaries Sales $365,273.68
    Promotional Expense $24,211.36
    Alarm service Expense $1,046.54
    Auto Repair and Maintenance Expense $2,969.13
    Computer Expense $8,688.85
    Bank Charges Expense $4,530.65
    Commission Expense $32,537.40
    Profit sharing Expense $125.00
    Consulting Fees Expense $486.00
    Equipment Maintenance Expense $1,433.37
    Depreciation Expense $6,420.08
    Dues and Subscriptions $2,064.09
    Education Seminars Expense $10,042.04
    Auto Rental Expense $472.21
    Gas/Oil Parking Expense $5,924.06
    General Insurance Expense $45,107.44
    Group Insurance Expense $22,868.78
    Flex Plan expense $92,173.07
    Legal & Accounting Fees Expense $13,115.00
    Rent Expense $80,094.85
    Postage Expense $780.19
    Office Supplies Expense $2,478.06
    Uniform Expense $42.84
    Building Repair Expense $9,939.02
    Credit Card fees Expense $11,459.09
    Sanitation Expense $2,402.00
    Supplies - Safety Expense $506.02
    Taxes & Licenses Expense $1,116.50
    Payroll Taxes Expense $53,386.71
    Employee Incentive Expense $1,564.13
    Travel Expense $7,218.23
    Meals & Entertainment Expense $3,567.08
    Mileage Expense $14,177.94
    Utilities Expense $76,286.53
    Telephone Expense $11,509.99
    Miscellaneous Expense $982.26
    Interest Expense $15,888.77

    TOTAL $16,856,431.79 $16,856,431.79

    Other Information

    Beginning Inventory

    Raw Material $341,954.61
    Finished Goods $8,302.86
    WIP 0

    OWNERSHIP
    David Smith - President 65%
    Jean Martin 35%

    © BrainMass Inc. brainmass.com June 4, 2020, 2:53 am ad1c9bdddf
    https://brainmass.com/business/leasing/cost-goods-manufactured-cost-goods-sold-statement-485756

    Attachments

    Solution Summary

    TRIPLE ENTERPRISES INC
    TRIAL BALANCE

    Debits Credits

    Cash $669.51
    Accounts Receivable $1,420,530.43
    Prepaid Insurance $5,147.72
    Allowance for Doubtful Acounts $73,214.87
    Inventory - Raw Material $256,364.04
    Inventory - Finished Goods $8,350.87
    Inventory - WIP $85,542.56
    Spare Parts - Inventory $69,905.15
    Deferred Income Tax $489,126.00
    Vehicles $286,528.81
    Equipment $8,609,796.45
    Equipment - Overhead $640,207.14
    Capital Lease $442,721.04
    Accumulated Depreciation $7,479,469.91
    Goodwill $1,225.00
    Prepaid - Other $70,239.40
    Current Portion Long Term Debt $133,373.99
    Accounts Payable $1,324,540.73
    Due to Officers $585,722.17
    Sales Tax Payable $9,632.63
    Payroll Withholdings $9,928.29
    Deferred Tax Liability $684,973.00
    Accrued Property Tax $2,289.98
    Payroll Taxes Payable $42,680.54
    Income Tax Payable $12,813.00
    Accrued Wages Payable $66,846.90
    Equipment Note $2,625.00
    Accrued - Other $54,937.17
    Loans Payable $923,511.75
    Chase auto Loan $41,597.67
    Capital Lease Obligations $330,407.41
    Common Stock $4,900.00
    Preffered Stock $770,000.00
    Retained Earnings $798,667.45
    Dividends $7,700.00
    Sales $3,458,758.87
    Interest Income $1,325.08
    Paper Expense $1,086,530.35
    Scrap Income $13,055.68
    Purchases - Raw Material $186,411.68
    Miscellaaneous - Direct Expense $19,445.49
    Outside Purchases Expense $261,235.24
    Ink Expense $94,452.76
    Utilities - Gas Expense $27,447.52
    Inventory Expense $36,877.00
    Inventory - Design Expense $142,363.80
    Design Rebate $43,972.70
    Inventory - Corrugated Expense $13,723.65
    Inventory - Binding Expense $20,245.94
    Depreciation - Direct Expense $168,062.59
    Equipment Lease (operating lease) Expense $96,000.00
    WIP Labor Adjustment $10,980.84
    Salaries Direct Expense $891,784.66
    Payroll Taxes - Direct Expense $66,141.34
    Equipment Repair and Maintenance $107,314.26
    Frieght Expense $22,251.06
    Salaries - Officers $124,053.89
    Salaries Overhead Expense $141,353.64
    Salaries Sales $365,273.68
    Promotional Expense $24,211.36
    Alarm service Expense $1,046.54
    Auto Repair and Maintenance Expense $2,969.13
    Computer Expense $8,688.85
    Bank Charges Expense $4,530.65
    Commission Expense $32,537.40
    Profit sharing Expense $125.00
    Consulting Fees Expense $486.00
    Equipment Maintenance Expense $1,433.37
    Depreciation Expense $6,420.08
    Dues and Subscriptions $2,064.09
    Education Seminars Expense $10,042.04
    Auto Rental Expense $472.21
    Gas/Oil Parking Expense $5,924.06
    General Insurance Expense $45,107.44
    Group Insurance Expense $22,868.78
    Flex Plan expense $92,173.07
    Legal & Accounting Fees Expense $13,115.00
    Rent Expense $80,094.85
    Postage Expense $780.19
    Office Supplies Expense $2,478.06
    Uniform Expense $42.84
    Building Repair Expense $9,939.02
    Credit Card fees Expense $11,459.09
    Sanitation Expense $2,402.00
    Supplies - Safety Expense $506.02
    Taxes & Licenses Expense $1,116.50
    Payroll Taxes Expense $53,386.71
    Employee Incentive Expense $1,564.13
    Travel Expense $7,218.23
    Meals & Entertainment Expense $3,567.08
    Mileage Expense $14,177.94
    Utilities Expense $76,286.53
    Telephone Expense $11,509.99
    Miscellaneous Expense $982.26
    Interest Expense $15,888.77

    TOTAL $16,856,431.79 $16,856,431.79

    $2.19

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