Maker Payee

17-Mar Professional Fee 8,500 Notes Receivable

Notes Payable 8,500 Service Income

1-May Notes Payable 8,500 Cash

Interest Expense 191 Notes Receivable
Cash 8,691 Interest Income
A B C D
Dec 16 Face Value 8,000 50,000 10,000 15,000
Jna 31 date of Note May 17 April 24 July 14 Dec 15
Feb 13 Interest rate 15% 12% 18% 6%
60 Term of Note 60 days 45 days 75 60 days
Maturity Date July 16 June 8 Sept 27 13-Feb
Interest on Note 200.00 750.00 375.00 150.00
Maturity Value 8,200.00 50,750.00 10,375.00 15,150.00

150=15000*I*60/360 T=N/360 375/(10000*18%)=N/360

150=15000*60/360*I I=PRT 0.20833333 =N/360
150=2500*I I/(PR)=N/360 75 =N
150/2500=i I=375 I=PRT
.06=i P=10000 375=10,000*18%*T/360
6%=i R =18% 375=5T
75

17-Mar 14
April 30 I=PRT
May 1
45 191.25
8691.25
Payee
8,500
8,500

8,691
8,500
191
 Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Acct # Accounts Debit Credit Debit Credit Debit
101 Cash on Hand 5,000 5,000
102 Cash in Bank 20,000 20,000
103 Prepaid Insurance 24,000 22,000 2,000
104 Linen Supplies 19,000 10,000 9,000
201 Land 150,000 150,000
202 Lodge 700,000 700,000
203 Furniture 168,000 168,000
301 Accounts Payable 53,000
302 Unearned Rent 46,000 25,000
303 Mortgage Payable 350,000
401 Sawyer, Capital 600,000
402 Sawyer, Drawing 10,000 10,000
501 Rent Revenue 92,000 25,000
601 Advertising Expense 5,000 5,000
602 Salaries Expense 30,000 8,000 38,000
603 Utilities Expense 10,000 10,000
Total 1,141,000 1,141,000

607 Insurance Expense 22,000 22,000

606 Supplies Expense 10,000 10,000
604 Depreciation Expense - Lodge 70,000 70,000
204 Accumulated Depreciation - Lodge 70000
605 Depreciation Expense - Furnitures 8400 8,400
205 Accumulated Depreciation - Furniture 8400
608 Interest Expense 25,900 25,900
304 Interest Payable 25,900 -
303 Salaries Payable 8,000
Total 169,300 169,300 1,253,300
Net Loss
Total

I=PRT 25900 August 30 Adjutsment for Supplies

September 30 Adjusted Balance of Supplies
October 31 Total of Adjusted Trial Balance
November 30 Total Initial Credit of Income Stat
December 31 Profit or Loss
January 31
February 28
March 31
April 30
May 31
June 30
333
Adjusted Trial Balance Income Statement Financial Position
Credit Debit Credit Debit Credit
5,000
20,000
2,000
9,000
150,000
700,000
168,000
53,000 53,000
21,000 21,000
350,000 350,000
600,000 600,000
10,000
117,000 117,000
5,000
38,000
10,000

22,000
10,000
70,000
70,000 70,000
8,400
8,400 8,400
0 25,900
25,900 25,900
8000 8,000
1,253,300 189,300 117,000 1,064,000 1,136,300
72,300 72,300
189,300 189,300 1,136,300 1,136,300

utsment for Supplies P10,000 credit

usted Balance of Supplies P9,000 debit
al of Adjusted Trial Balance P1,253,300
al Initial Credit of Income Statement P117,000
 Sleepy Hallow
Income Statement
For the fiscal year ended June 30, 2019

Revenue
Rent Revenue 117,000

Less: Expenses
Advertising Expense 5,000
Salaries Expense 38,000
Utilities Expense 10,000
Insurance Expense 22,000
Supplies Expense 10,000
Depreciation Expense - Lodge 70,000
Depreciation Expense - Furnitures 8,400
Interest Expense 25,900 189,300
Profit /(Loss) (72,300)

Sleepy Hallow
Statement of Changes In Equity
For the fiscal year ended June 30, 2019

Sawyer, Capital 7/1/2018 600,000

Less: Net Loss 72,300
Withdrawals 10,000 82,300
Sawyer, Capital 6/30/2019 517,700

Sleepy Hallow
Statement of Financial Position
June 30, 2019

ASSETS

Current Assets
Cash on Hand 5,000
Cash in Bank 20,000
Prepaid Insurance 2,000
Linen Supplies 9,000 36,000
Non Current Assets
 Land 150,000
Lodge 700,000
Less: Accumulated Depreciation - Lodge 70,000 630,000
Furniture 168,000
Less: Accumulated Depreciation - Furniture 8,400 159,600 939,600
Total Assets 975,600

LIABILITIES
Current Liabilities
Accounts Payable 53,000
Unearned Rent 21,000
Interest Payable 25,900
Salaries Payable 8,000 107,900
Non Current Liabilities
Mortgage Payable 350,000
Total Liabilities 457,900

EQUITY
Sawyer, Capital 517,700
Total Liabilities and Equity 975,600
 Buisiness Solution Company
Worksheet
31-Dec-18

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Financial Position
Accounts Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash on Hand 9,730 9,730
Cash in Bank 40,000 40,000
Accounts Receivable 6,000 6,000
Computer Supplies 1,420 920 500
Computer System 20,000 20,000
Office Equipment 80,000 80,000
Ty, Capital 100,000 - 100,000
Notes Payable 45,000 45,000
Ty, Drawings 3,000 3,000 -
Computer Fees Revenue 33,400 7,500 25,900
Advertising Expense 1,500 1,500
Salaries Expense 15,000 15,000 30,000
Repair Expense 1,750 1,750
Total 178,400 178,400

Depreciation Expense - Computer System 500 500

Accumulated Depreciation - Computer System 500 - 500
Depreciation Expense - Office Equipment 2,000 2,000
Accumulated Depreciation - Office Equipment 2,000 2000
Supplies Expense 920 920
Unearned Computer Fees Revenue 7,500 7500
Utilities Expense 5,000 5,000 0
Utilities Payable 5,000 - 5,000
Salaries Payable 15,000 15000
Total 30,920 30,920 200,900 200,900

Cost 20,000
Scrap 5,000
Deprciable Cost 15,000
Life 5
Yearly Depreciation 3,000
Depreciation 2018 (N0v1-Dec 31) 500

Cost 80,000
Scrap 20,000
Depreciable Cost 60,000
Life 5
Yearly Depreciation 12,000
Depreciation 2018 (N0v1-Dec 31) 2,000