Event Cash A/R Inventory Patent Trade Recievable Equipments Liability375000 125000

-7500-62500 62500-75000 75000230000 75000 125000 62500-23750685000 69500

-175000 175000-22500

-350000-80000

-150000 15000050000 50000

-50750 -50000113000 0

-195000-10625

-6250

OE500000

-7500

492500-23750754500

-22500-350000

-80000

-750 Interest Payabale

-195000-10625

-6250

Journal Entry Dr Cr

Cash 500000OE 500000Patent 125000Cash 125000Legal Expense 7500Cash 7500Equipment 62500Cash 62500Inventory 75000Cash 75000R&D Expense 23750Cash 23750Cash 685000Trade Recievable 69500Reveneue 754500Inventory 175000Cash 175000Adv expense 22500Cash 22500Expenses 350000Cash 350000Salary Payable 80000Cash 80000Equipment 150000Cash 150000Cash 50000Loan Payable 50000Loan Payable 50000Cash 50000Interest Payable 750Cash 750O.E 195000Inventory 195000

Trial BalanceDr Cr

Cash 113000Share Capital 500000Machinery 212500Patent 125000Legal Exp 7500Supplies 250000R&D Exp 23750Sales reveneue 754500Trade recievable 69500Adv exp 22500Exp 350000Sal Exp 80000Loan 0Interest Exp 750

1254500 1254500

Closing Entries

Reveneues 754500Income summery 754500

Income summery 715125Legal exp 7500COGS 545000Op exp 80000Dep Exp 10625Patent depreciation 6250Adv exp 22500Int Exp 750R&D exp 23750