Weddings "R" Us

Worksheet
For the Month Ended May 31, 2015

Unadjusted Trial Balance Adjustments

No. Account Title Debit Credit Debit
110 Cash 22,200
120 Accounts Receivable 12,000
130 Supplies 18,000
140 Prepaid Rent 8,000
150 Prepaid Insurance 14,400
160 Service Vehicle 420,000
165 Acc. Dep. - Service Vehicle
170 Office Equipment 60,000
175 Acc. Dep - Office Equipment
210 Notes Payable 210,000
220 Accounts Payable 53,000
230 Salaries Payable
240 Utilities Payable 1,400
250 Interest Payable
260 Unearned Referral Revenues 10,000
310 Diaz, Capital 250,000
320 Diaz, Withdrawal 14,000
330 Income Summary
410 Consulting Revenues 62,400
420 Referral Revenues
510 Salaries Expense 13,800
520 Supplies Expense
530 Rent Expense
540 Insurance Expense
550 Utilities Expense 4,400
560 Depreciation Exp. - Service Vehicle
570 Depreciation Exp. - Office Equipment
580 Miscellaneous Expense
590 Interest Expense
586,800 586,800
 Weddings "R" Us
Worksheet
e Month Ended May 31, 2015

Adjustments Adjusted Trial Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit
 Weddings "R" Us
Worksheet
For the Month Ended May 31, 2015

Trial Balance Adjustments

No. Account Title Debit Credit Debit
110 Cash 22,200
120 Accounts Receivable 12,000 i. 5,300
130 Supplies 18,000 c.
140 Prepaid Rent 8,000 a.
150 Prepaid Insurance 14,400 b.
160 Service Vehicle 420,000
165 Acc. Dep. - Service Vehicle d.
170 Office Equipment 60,000
175 Acc. Dep - Office Equipment e.
210 Notes Payable 210,000
220 Accounts Payable 53,000
230 Salaries Payable g.
240 Utilities Payable 1,400
250 Interest Payable h.
260 Unearned Referral Revenues 10,000 f. 4,000
310 Diaz, Capital 250,000
320 Diaz, Withdrawal 14,000
330 Income Summary
410 Consulting Revenues 62,400 i.
420 Referral Revenues f.
510 Salaries Expense 13,800 g. 1,800
520 Supplies Expense c. 3,000
530 Rent Expense a. 4,000
540 Insurance Expense b 1,200
550 Utilities Expense 4,400
560 Depreciation Exp. - Service Vehicle d. 4,000
570 Depreciation Exp. - Office Equipment e. 1,000
580 Miscellaneous Expense
590 Interest Expense h. 3,500
586,800 586,800 27,800
 Weddings "R" Us
Worksheet
e Month Ended May 31, 2015

Adjustments Adjusted Trial Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit

3,000
4,000
1,200

4,000

1,000

1,800

3,500

5,300
4,000

27,800
 Weddings "R" Us
Worksheet
For the Month Ended May 31, 2015

Trial Balance Adjustments

No. Account Title Debit Credit Debit
110 Cash 22,200
120 Accounts Receivable 12,000 i. 5,300
130 Supplies 18,000 c.
140 Prepaid Rent 8,000 a.
150 Prepaid Insurance 14,400 b.
160 Service Vehicle 420,000
165 Acc. Dep. - Service Vehicle d.
170 Office Equipment 60,000
175 Acc. Dep - Office Equipment e.
210 Notes Payable 210,000
220 Accounts Payable 53,000
230 Salaries Payable g.
240 Utilities Payable 1,400
250 Interest Payable h.
260 Unearned Referral Revenues 10,000 f. 4,000
310 Diaz, Capital 250,000
320 Diaz, Withdrawal 14,000
330 Income Summary
410 Consulting Revenues 62,400 i.
420 Referral Revenues f.
510 Salaries Expense 13,800 g. 1,800
520 Supplies Expense c. 3,000
530 Rent Expense a. 4,000
540 Insurance Expense b 1,200
550 Utilities Expense 4,400
560 Depreciation Exp. - Service Vehicle d. 4,000
570 Depreciation Exp. - Office Equipment e. 1,000
580 Miscellaneous Expense
590 Interest Expense h. 3,500
586,800 586,800 27,800
 Weddings "R" Us
Worksheet
e Month Ended May 31, 2015

Adjustments Adjusted Trial Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit
22,200
17,300
3,000 15,000
4,000 4,000
1,200 13,200
420,000
4,000 4,000
60,000
1,000 1,000
210,000
53,000
1,800 1,800
1,400
3,500 3,500
6,000
250,000
14,000

5,300 67,700
4,000 4,000
15,600
3,000
4,000
1,200
4,400
4,000
1,000

3,500
27,800 602,400 602,400
 Weddings "R" Us
Worksheet
For the Month Ended May 31, 2015

Trial Balance Adjustments

No. Account Title Debit Credit Debit
110 Cash 22,200
120 Accounts Receivable 12,000 i. 5,300
130 Supplies 18,000 c.
140 Prepaid Rent 8,000 a.
150 Prepaid Insurance 14,400 b.
160 Service Vehicle 420,000
165 Acc. Dep. - Service Vehicle d.
170 Office Equipment 60,000
175 Acc. Dep - Office Equipment e.
210 Notes Payable 210,000
220 Accounts Payable 53,000
230 Salaries Payable g.
240 Utilities Payable 1,400
250 Interest Payable h.
260 Unearned Referral Revenues 10,000 f. 4,000
310 Diaz, Capital 250,000
320 Diaz, Withdrawal 14,000
330 Income Summary
410 Consulting Revenues 62,400 i.
420 Referral Revenues f.
510 Salaries Expense 13,800 g. 1,800
520 Supplies Expense c. 3,000
530 Rent Expense a. 4,000
540 Insurance Expense b 1,200
550 Utilities Expense 4,400
560 Depreciation Exp. - Service Vehicle d. 4,000
570 Depreciation Exp. - Office Equipment e. 1,000
580 Miscellaneous Expense
590 Interest Expense h. 3,500
586,800 586,800 27,800
Profit
 Weddings "R" Us
Worksheet
e Month Ended May 31, 2015

Adjustments Adjusted Trial Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit
22,200 22,200
17,300 17,300
3,000 15,000 15,000
4,000 4,000 4,000
1,200 13,200 13,200
420,000 420,000
4,000 4,000 4,000
60,000 60,000
1,000 1,000 1,000
210,000 210,000
53,000 53,000
1,800 1,800 1,800
1,400 1,400
3,500 3,500 3,500
6,000 6,000
250,000 250,000
14,000 14,000

5,300 67,700 67,700

4,000 4,000 4,000
15,600 15,600
3,000 3,000
4,000 4,000
1,200 1,200
4,400 4,400
4,000 4,000
1,000 1,000

3,500 3,500
27,800 602,400 602,400 36,700 71,700 565,700 530,700
35,000 35,000
71,700 71,700 565,700 565,700
 Weddings "R" Us
Income Statement
For the Month Ended May 31, 2015

Revenues
Consulting Revenues 67,700
Referral Revenues 4,000
Total 71,700

Expenses
Salaries Expense 15,600
Supplies Expense 3,000
Rent Expense 4,000
Insurance Expense 1,200
Utilities Expense 4,400
Depreciation Exp. - Service Vehicle 4,000
Depreciation Exp. - Office Equipment 1,000
Interest Expense 3,500
Total 36,700
Profit 35,000
 Weddings "R" Us
Statement of Changes in Equity
For the Month Ended May 31, 2015

Diaz, Owner's equity, 5/1/2015 250,000

Add: Additional Investment by Diaz -
Profit 35,000 35,000
Total 285,000
Less: Withdrawals 14,000
Diaz, Owner's Equity, 5/31/2015 271,000
 Weddings "R" Us
Balance Sheet
as of May 31, 2015

Assets
Current Assets
Cash 22,200
Accounts Receivable 17,300
Supplies 15,000
Prepaid Rent 4,000
Prepaid Insurance 13,200
Total Current Assets 71,700
Property and Equipment (Net)
Service Vehicles 420,000
Less: Accumulated Depreciation 4,000 416,000
Office Equipment 60,000
Less: Accumulated Depreciation 1,000 59,000 475,000
Total Assets 546,700

Liabilities
Current Liabilities
Notes Payable 210,000
Accounts Payable 53,000
Salaries Payable 1,800
Utilities Payable 1,400
Interest Payable 3,500
Unearned Referral Revenues 6,000
Total Current Liabilities 275,700

Owner's Equity
Diaz, Capital, 5/31/2015 271,000
Total Liabilities and Owner's Equity 546,700
-
 Weddings "R" Us
Statement of Cash Flows
For the Month Ended May 31, 2015

Cash Flows from Operating Activities:

Cash received from clients 60,400
Payments to suppliers - 10,000
Payments to employees - 13,800
Payments for office rent - 8,000
Payments for insurance - 14,400
Payments for utilities - 3,000
Net cash provided by (used in) operating activities 11,200
Cash Flows from Investing Activities:
Payments to acquire service vehicle - 420,000
Payments to acquire office equipment - 15,000
Net cash provided by (used in) investing activities - 435,000
Cash Flows from Financing Activities:
Cash received as investment by owner 250,000
Cash received from borrowings 210,000
Payments for withdrawals by owner - 14,000
Net cash provided by (used in) financing activities 446,000
Net Increase (Decrease) in Cash 22,200
Cash balance at the beginning of the period -
Cash balance at the end of the period 22,200
Checking -
 Weddings "R" Us
Post-Closing Trial Balance
May 31, 2015

Account Title Debit Credit

Cash 22,200
Accounts Receivable 17,300
Supplies 15,000
Prepaid Rent 4,000
Prepaid Insurance 13,200
Service Vehicle 420,000
Acc. Dep. - Service Vehicle 4,000
Office Equipment 60,000
Acc. Dep - Office Equipment 1,000
Notes Payable 210,000
Accounts Payable 53,000
Salaries Payable 1,800
Utilities Payable 1,400
Interest Payable 3,500
Unearned Referral Revenues 6,000
Diaz, Capital 271,000
551,700 551,700