Santana Industries Santana Industries

Adjusted Trial Balance Adjusted Trial Balance

Adjusted Trial Balance Adjusted Trial Balance
at December 31, 2021 at December 31, 2020
Account Name Debit Credit Debit
Cash 8,300 2,200
Accounts Receivable 2,500 2,200
Inventory 4,000 3,000
Prepaids 150 300
Equipment 14,500 12,000
Accum Depr - Equip 5,100
Accounts Payable 1,400
Interest Payable 100
Income Taxes Payable 550
Deferred Revenue 800
Long-term Debt, net 5,000
Common Stock 10,000
Retained earnings 2,700
Dividends 1,000
Sales Revenue 14,250
Service Revenu 3,400
Cost of Goods Sold 7,200
Operating Expenses
Selling Expenses 2,400
General and Administrative 1,500
Interest Expense 150
Income tax Expense 1,600
Net Income
CR from Sale
Total 43,300 43,300 19,700

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 Santana Industries
Adjusted Trial Balance Step 1 Step 2 Non Cash
Adjusted Trial Balance Change Oper Inv Financing Cash Buz
at December 31, 2020 DB (cr) Trans
Credit 300
6,100
300 (300)
1,000 (1,000)
(150) 150
2,500 (4,000)
4,500 (600) (600)
1,100 (300) (300)
- (100) 100
800 250 (250)
600 (200)
- (5,000)
10,000 - (10,000)
2,700 -
1,000 (1,000)
(14,250) 14,250
(3,400) 3,400
7,200

2,400 2,400
1,500 1,500
150 (150)
1,600 1,600

19,700 - 20,800 (3,700) (11,000) 6,100

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Net Income 4,800
Depreciaiton and Amortization 1,600
Gain on Sale 14,250
Loss on Sale of Equipment (2,500)
Unrealized Gain on MKt Sec
Deferred Taxes
Changes in CA & CL
AR 300
Inventory- 1,000
Prepaids (150)
AP 2,500
Inc Tax Pay 250
Wages Payable
Cash Flows from Operations 3,900

Proceeds from Sale of Equipment 500

Proceeds from Sale of Investment
Purchase of Mkt Sec
Purchase of Equipment (4,000)

Cash Flows from Investment (3,500)

Payment of LOC
Payment on LTD 5,000
Sold Stock
Paid Dividends (1,000)
Purchase of Treasury Stock

Cash Flows from Financing 4,000

 Name of Company
Statement of Cash Flows
Time Period

Operating Activities (Reconciliation of NI to Cash flows from operating activities)

Net Income (Per the income Statement)
Adjustments for Non-Cash Accounting Transactions
Depreciation, Amortization, Depletion
(Gain) or loss on Sale of assets
Any other "Paper" Transactions caused by Accounting Principles
Change in Current Assets and Liabilities (other than Cash, Mkt Sec and debt)
(Incr) Decr in Current Assets
(Decr) Incr in Current Liabilities

Cash Flows Provided by (Used in) Operating Activities

Investing Activities (Shown at Gross Receipts and Disbursements)

Proceeds from Sale of LT Assets and Marketable Securities
Purchases of LT Assets and Marketable Securities

Cash Flows Provided by (Used in) Investing Activities

Financing Activities (Shown at Gross Receipts and Disu

Proceeds from Borrowings
Re-Payments of Debt
Sale of Stock to investors
Purchase of Stock back from Investors (Treasury Stock/ PS redemption)
Cash Dividends

Cash Flows Provided by (Used in ) Financing Activities

Increase (Decrease) in Cash

Cash Balance
Beginning

Ending

Supplemental information:
Interest Paid
Taxes Paid

Non-Cash Business Transactions

 Dewey, Cheetum, & Howe, LLP Dewey, Cheetum, & Howe, LLP
Adjusted Trial Balance Adjusted Trial Balance
at December 31, 2021 at December 31, 2020
Account Name Debit Credit Debit
Cash 6,000 4,200
Marketable securities 35,000 25,000
Accounts Receivable 52,000 40,000
Inventory 30,000 20,000
Prepaids 4,000 5,000
Land 20,000 20,000
Building 100,000 100,000
Accum Depr - Bldg 45,000
Equipment 134,850 100,000
Accum Depr - Equip 34,000
Patents 45,000 50,000
Long-term investments 25,000 30,000
Accounts Payable 46,000
Income Taxes Payable 9,000
Salaries Payable 13,000
Working Capital Line of Credit 20,000
Current Portion of LTD 15,000
Long-term Debt, net 62,000
Common Stock, $15 Par 100,000
Paid in Capital 50,000
Retained earnings 38,700
Dividends 10,000
Treasurey Stock 20,000
Sales Revenue 338,150
Cost Goods sold
Raw Material 75,000
Direct Labor 60,000
Manufacturing Overhead
Various Overhead Expenses 20,000
Depreciation - Bldg 10,000
Depreciation - Equip 7,500
Operating Expenses
Various Operating Expense 80,000
Depreciation - Bldg 2,000
Depreciation - Equip 2,500
Interest and Dividend Income 2,000
Interest Expense 10,000
Gain on Sale of Long Term Investments 2,000
Loss of Sale of Equipment 3,000
Unrealized Gain on Mkt Securities 4,000
Income tax Expense 23,000
Net Income
CR from Sale
Total 776,850 776,850 394,200

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wey, Cheetum, & Howe, LLP Step 1 Step 2 Non Cash
Adjusted Trial Balance Change Oper Inv Financing Cash Buz
at December 31, 2020 DB (cr) Trans
Credit

33,000

25,000

34,000
6,000
4,000
45,500
12,000
76,000
80,000
40,000
38,700
 (49,150)

394,200 (49,150)

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 Santana Industies
Statement of Cash Flows cash flows from operations is equal or greater than
For the Year Ended December 31, 2024 increase in deferred revenue= good sign because c
increase in inventory and accounts payable go toge
Cash Flows from Operating Activites equipment
Net Income $ 4,800 bb
Adjustments for Non-Cash Effects:
Depreciation 1,600 purch
Changes in operating assests and liabilities
(Inc) in Accounts Receivable (300)
(inc) in Inventory (1,000) eb
Decr in Prepaid Rent 150
Incr In accounts payable 300
incr in interest payable 100 *gain(loss)= sp-bv
incr in deffered revenue 200
decr in income tax payable (250)
Cash flows provided by operating activi 5,600

Cash Flows from Investing Activities

Purchases of equipment (4,000)
Proceeds from Sale of Assets 500
Cash Flows used in Investing Activies (3,500)

Cash Flows from Financing Activies

Issuance of Note Payable 5,000
Paid Dividends (1,000)
Cash Flows provided by Financing Activi 4,000

Net Increase In Cash 6,100

Cash Balances
Beginning Cash Balance 2200

Ending Cash Balance $ 8,300

Interest Paid $ 50
Income taxes paid $ 1,850
Non Cash Business Transactions
ations is equal or greater than net income + depreiciation, company is stable and if its lower that is a red flag
revenue= good sign because costumers want to pay earlier
and accounts payable go together. Shows growth
equipment ad- equipment
122 bb 4500

4 sale(at cost 500 removal 1000 exp 1600

14.5 eb 5100

*gain(loss)= sp-bv RE
bb 2700

NL NI 4800
DIV 1000

eb 6500