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Accounting

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Hon Rep Shadrach Brown
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7 views2 pages

Printed File

Accounting

Uploaded by

Hon Rep Shadrach Brown
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Watson Answering Service Inc.

Worksheet
For the Month Ended August 31, 2015

| |Acccou |Trial Bal | Adjustments | Adjusted T b | IncomeStatement | Balance Sheet |


|----------------------|---------------|-------------|------------------------|------------------|--------
-------|
| Cash | $5,280 | | $5,280 | | $5,280 |
| Accounts Receivable | $1,300 | | $1,300 | | $1,300
|
| Supplies | $2,400 | $1,000 | $3,400 | | $3,400 |
| Prepaid Insurance | $600 | $200 | $400 | | $400
|
| Equipment | $60,000 | $900 | $59,100 | | $59,100
|
| Notes Payable | $1,000 | $500 | $1,500 | | $1,500
|
| Accounts Payable | $3,200 | | $3,200 | | $3,200
|
| Common Stock | $800 | | $800 | | $800 |
| Dividends | $400 | | $400 | | $400 |
| Service Revenue | $77,300 | | $77,300 | $77,300 |
|
| Salaries and Wages Expense | | | | $0 | |
| Utilities Expense | | | | $0 | |
| Advertising Expense | | | | $0 | |
| Total | $77,300 | $1,600 | $78,900 | $77,300 | $78,900
|

Income Statement:
Service Revenue: $77,300
Total Expenses: $0
Net Income: $77,300

Balance Sheet:
Assets:
Cash: $5,280
Accounts Receivable: $1,300
Supplies: $3,400
Prepaid Insurance: $400
Equipment: $59,100
Total Assets: $69,480

Liabilities:
Notes Payable: $1,500
Accounts Payable: $3,200
Total Liabilities: $4,700

Equity:
Common Stock: $800
Retained Earnings: $77,980
Total Equity: $78,780

Total Liabilities and Equity: $83,480

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