King Company
Trial Balance
December 31, 2023
Debit
Credit
Cash
$ 29,000
Accounts Receivable
114,000
Inventory
113,000
Office Supplies
6,000
Equipment
550,000
Accumulated Depreciation
$ 25,000
Accounts Payable
73,000
Salary Payable
20,000
Unearned Revenue
7,000
Notes Payable**
289,000
Common Stock
184,000
Retained Earnings
141,000
Dividends
10,000
Sales
900,000
Cost of Goods Sold
555,000
Selling and General Expenses
219,000
Depreciation Expnese
20,000
Interest Revenue
4,000
Interest Expense
7,000
Gain on Sale of Equipment
6,000
Income tax expense
26,000
Totals $ 1,649,000 $ 1,649,000
** Current portion of notes payable $9,000