A.

Unadjusted Trial Balance

Entity’s A
Unadjusted Trial Balance
December 31, 20x1

Accounts Debits Credits

Cash 354,000
Accounts Receivable 50,000
Equipment 360,000
Office Supplies 80,000
Notes Payable 300,000
Owner’s Equity 100,000
Owner’s Drawing 100,000
Service Fee 400,000
Utilities Expense 16,000
Salaries Expense 140,000
Totals 1,100,000 1,100,000

Entity’s A
Income Statement
For the Month Ended December 31, 20x1
INCOME

Service Fees 600,000

EXPENSES

Utilities Expense (16,000)

Salaries Expense (140,000)

Interest Expense (3,000)
Depreciation Expense (6,000)
TOTAL EXPENSES (165,000)

PROFIT FOR THE PERIOD 435,000

 Entity’s A
Balance Sheet
As Of December 31, 20x1

ASSETS

Cash 354,000
Equipment 47,000
Office Supplies 75,000
Bad Debts 3,000
Prepaid Supplies 5,000
Equipment 360,000
Accumulated Depreciation (6,000)
TOTAL ASSETS 838,000
LIABILITIES

Notes Payable 300,000

Interest Payable 3,000
TOTAL LIABILITIES 303,000

EQUITY

Owner’s Equity 535,000

TOTAL EQUITY 535,000

TOTAL LIABILITIES AND EQUITY 838,000