Trial Balance Adjustment

Account Titles Dr. Cr. Dr. Cr.

Cash 125,000
Supplies 3,800 2,000
Prepaid Insurance 6,000 1,000
Equipment 50,000
Notes Payable 9,400
Accounts Payable 70,000
Unearned Revenue 50,000 4,600
Owner's Capital 60,000
Owner's Drawings 6,000
Service Revenue 70,000 4,600
Salaries and Wages Exp. 5,000
Rent Exp. 70,000
Supplies Expense 9,000 2,000
Insurance Expense 8,200 1,000
Accumulated Depreciation 80,000 4,000
Depreciation Expense 7,000 4,000
Accounts Receivable 80,000
Interest Expense 7,400
Interest Payable 8,000
Salaries and Wages Payable 30,000
Totals 377,400 377,400 11,600 11,600
Net income
Totals

Debit
1 Insurance Expense 1,000
Prepaid Insurance
2 Suppies Expense 2,000
Supplies
3 Depreciation Expense 4,000
Accumulated Depreciation
4 Unearned Revenue 4,600
Service Revenue
Adjustment Trial Balance Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr.
125,000 125,000
1,800 1,800
5,000 5,000
50,000 50,000
9,400 9,400
70,000 70,000
45,400 45,400
60,000 60,000
6,000 6,000
74,600 74,600
5,000 5,000
70,000 70,000
11,000 11,000
9,200 9,200
84,000 - 84,000
11,000 11,000
80,000 80,000
7,400 7,400
8,000 8,000
30,000 30,000
381,400 381,400 113,600 74,600
39,000 39,000
113,600 113,600 306,800 306,800

Credit

1,000

2,000

4,000

4,600
 Closing entries
Account title Debit Credit
Service Revenue 74,600
Income Summary 74,600
Income Summary 113,600
Salaries and Wages Exp. 5,000
Rent Exp. 70,000
Supplies Expense 11,000
Insurance Expense 9,200
Depreciation Expense 11,000
Interest Expense 7,400
Income Summary 39,000
Owner's Capital 39,000
Owner's Drawings 6,000
Owner's Capital 6000

Balance Sheet
Dr. Cr.
125,000
1,800
5,000
50,000
9,400
70,000
45,500
15,000

- 84,000

80,000

8,000
30,000
261,800 261,900
Income statement

Revenue
Service Revenue 74,600
Expenses
Salaries and Wages Exp. 5,000
Rent Exp. 70,000
Supplies Expense 11,000
Insurance Expense 9,200
Depreciation Expense 11,000
Interest Expense 7,400
Total Expenses 113,600
Net Loss 39,000

Owner's euity staement

owner cap 60000
Net loss 39000
drawing 6000
ower cap 15000

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