The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,675 on January 1, 2016, and $51,625 on December 31, 2016. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts
401 Sales $ 245,400 Cr.
451 Sales Returns and Allowances 4,240 Dr.
491 Miscellaneous Income 290 Cr.
501 Purchases 102,500 Dr.
502 Freight In 1,865 Dr.
503 Purchases Returns and Allowances 3,490 Cr.
504 Purchases Discounts 1,690 Cr.
611 Salaries Expense—Sales 44,200 Dr.
614 Store Supplies Expense 2,200 Dr.
617 Depreciation Expense Store Equipment 1,400 Dr.
631 Rent Expense 12,400 Dr.
634 Utilities Expense 2,890 Dr.
637 Salaries Expense—Office 20,000 Dr.
640 Payroll Taxes Expense 4,900 Dr.
643 Depreciation Expense—Office Equipment 460 Dr.
646 Uncollectible Accounts Expense 610 Dr.
691 Interest Expense 520 Dr.
The worksheet of Bridget's Office Supplies contains the following owner’s equity accounts.
Accounts
301 Bridget Swanson, Capital $ 62,660 Cr.
302 Bridget Swanson, Drawing 40,750 Dr.
Net income for the year $45,635.
The worksheet of Bridget's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payable account consists of notes that are due within a year.
Accounts
101 Cash $ 9,205 Dr.
107 Change Fund 390 Dr.
111 Accounts Receivable 5,030 Dr.
112 Allowance for Doubtful Accounts 750 Cr.
121 Merchandise Inventory 51,625 Dr.
131 Store Supplies 990 Dr.
133 Prepaid Interest 75 Dr.
141 Store Equipment 10,100 Dr.
142 Accum. Depreciation—Store Equipment1,070 Cr.
151 Office Equipment 3,180 Dr.
152 Accum. Depreciation—Office Equipment 390 Cr.
201 Notes Payable 5,390 Cr.
203 Accounts Payable 3,615 Cr.
216 Interest Payable 55 Cr.
231 Sales Tax Payable 1,780 Cr.
Prepare a balance sheet dated December 31, 2016.