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Trial Balance Adjustments Account Title e B A C: Debit Credit Debit

The document is a trial balance, income statement, statement of changes in equity, and balance sheet for Steady Answering Service. It shows account balances and adjustments to accounts, revenues and expenses, changes in owner's equity including a withdrawal, and assets, liabilities, and owner's equity on the balance sheet.

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Ryan Dizon
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Download as XLSX, PDF, TXT or read online on Scribd
35 views

Trial Balance Adjustments Account Title e B A C: Debit Credit Debit

The document is a trial balance, income statement, statement of changes in equity, and balance sheet for Steady Answering Service. It shows account balances and adjustments to accounts, revenues and expenses, changes in owner's equity including a withdrawal, and assets, liabilities, and owner's equity on the balance sheet.

Uploaded by

Ryan Dizon
Copyright
© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Trial Balance Adjustments

ACCOUNT TITLE Debit Credit Debit


Cash 21,600
Account Receivable 12,500 e 3,000
Office Supplies 1,800 b
Prepaid Insurance 2,400 a
Office Equipment 34,000
Accumulated Depreciation 6,000 c
Accounts Payable 7,000
Unearned Revenue 4,600 f 1,600
Salary Payable d
T. Ramos, Capital 48,700
T. Ramos, Drawing 4,000
Service Revenue 29,000 ef
Salary Expense 15,000 d 1,200
Supplies Expense b 1,050
Rent Expense 4,000
Insurance Expense a 400
Depreciation Expense-Office Equipment c 1,000
TOTAL 95,300 95,300 8,250
Adjustments Adjusted Trial Balance
Credit Debit Credit
21,600
15,500
1,050 750
400 2,000
34,000
1,000 7,000
7,000
3,000
1,200 1,200
48,700
4,000
4,600 33,600
16,200
1,050
4,000
400
1,000
8,250 100,500 100,500
STEADY ANSWERING SERVICE
INCOME STATEMENT
DECEMBER 31, 2018
December 31
Notes 2018

REVENUES
Service Revenue 33,600
Total 33,600
EXPENSES
Salary Expense 16,200
Supplies Expense 1,050
Rent Expense 4,000
Insurance Expense 400
Depreciation Expense-Office Equipment 1,000
Total 22,650
PROFIT 10,950

See Notes to Financial Statement


68,548.24
13,041.28
81589.52
1,831.04
1,011.62
2842.66

84432.18

-84032.18
STEADY ANSWERING SERVICE
STATEMENT OF CHANGES IN EQUITY
For the year ended December 31, 2018

Total

T. Ramos, Owner's Equity 48,700


ADD: Profit 10,950
TOTAL 59,650

LESS: Withdrawals 4,000


T. Ramos, Owner's Equity 55,650

See Notes to Financial Statement


STEADY ANSWERING SERVICE
BALANCE SHEET
December 31, 2018
ASSETS
December 31
Notes 2018
Current Assets
Cash 21,600
Account Receivable 15,500
Office Supplies 750
Prepaid Insurance 2,000
Total Current Assets 39,850

Non-Current Assets
Office Equipment 34,000
Less: Accumulated Depreciation 7,000
Total Non-Current Assets 27,000

TOTAL ASSETS 66,850

LIABILITIES
Current Liabilities
Accounts Payable 7,000
Unearned Revenue 3,000
Salary Payable 1,200
Total Current Liabilities 11,200

Owner's Equity
T. Ramos, Owner's Equity 55,650
Total Liabilities and Owner's Equity 66,850

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