Ily Abella Surveyors

Worksheet
May 31, 2021
Trial Balance Adjustments
Account Titles Debit Credit Debit
Cash 210,000
Accounts Receivable 930,000
Prepaid Advertising 360,000 a)
Engineering Supplies 270,000 b)
Survey Equipment 1,890,000
Accumulated Depreciation- Survey Equipment 640,000 c)
Accounts Payable 190,000
Unearned Survey Revenues 120,000 d) 40,000
Notes Payable 500,000
Abella, Capital 1,120,000
Abella, Drawing 700,000
Survey Revenues 6,510,000 d)
Salaries Expense 3,270,000 e) 140,000
Rent Expense 960,000
Insurance Expense 250,000
Utilities Expense 160,000
Miscellaneous Expense 80,000
Total 9,080,000 9,080,000
Advertising Expense (7/18) 360,000 a) 140,000
Engineering Supplies Used b) 180,000
Depreciation c) 160,000
Salaries Payable e)
Interest Expense f) 60,000
Interest Payable
Total 720,000
Profir for the period ended
Total

Income Statement:
Total Credits > Total Debits= Profit
Total Debits > Total credits= Loss
 ella Surveyors
Worksheet JOURNALIZING
y 31, 2021 POSTING
Adjustments Adjusted Trial Balance Income Statement Statement of F/P TRIAL BALANCE
Credit Debit Credit Debit Credit Debit Credit WORKSHEET
210,000 210,000 adjustments
930,000 930,000 ADJUSTED TRAL BALANCE
140,000 220,000 220,000 INCOME STATEMENT
180,000 90,000 90,000 STATEMENT OF F/P
1,890,000 1,890,000 Closing Entries
160,000 800,000 800,000 Post- Closing Trial Balance
190,000 190,000
80,000 80,000
500,000 500,000
1,120,000 1,120,000
700,000 700,000
40,000 6,550,000 6,550,000
3,410,000 3,410,000
960,000 960,000
250,000 250,000
160,000 160,000
80,000 80,000

140,000 140,000
180,000 180,000
160,000 160,000
140,000 140,000 140,000
60,000 60,000
60,000 60,000 60,000
720,000 9,440,000 9,440,000 5,400,000 6,550,000 4,040,000 2,890,000
1,150,000 1,150,000
6,550,000 6,550,000 4,040,000 4,040,000
JOURNALIZING
POSTING
TRIAL BALANCE
WORKSHEET (Optional)
adjustments
ADJUSTED TRAL BALANCE
INCOME STATEMENT
STATEMENT OF F/P
Closing Entries
Post- Closing Trial Balance
 Page 1
Date Explanation F Debit Credit
2021
May 31 Survey Revenues 6,550,000
Salaries Expense 3,410,000
Rent Expense 960,000
Insurance Expense 250,000
Utilities Expense 160,000
Miscellaneous Expense 80,000
Advertising Expense 140,000
Engineering Supplies Used 180,000
Depreciation 160,000
Interest Expense 60,000
Income Summary 1,150,000
To close nominal accounts to
Income Summary.

31 Income Summary 1,150,000

Abella, Drawing 1,150,000
To close Income Summary to
drawing account.

Abella, Drawing
700,000 1,150,000
450,000
31 Abella, Drawing 450,000
Abella, Capital 450,000
To close drawing balance to
capital account.
 Ily Abella Surveyors
Post-Closing Trial Balance
May 31, 2021

Account Titles Debit Credit

Cash 210,000
Accounts Receivable 930,000
Prepaid Advertising 220,000
Engineering Supplies 90,000
Survey Equipment 1,890,000
Accumulated Depreciation- Survey Equipment 800,000
Accounts Payable 190,000
Unearned Survey Revenues 80,000
Notes Payable 500,000
Salaries Payable 140,000
Interest Payable 60,000
Abella, Capital (1,120,000+ 450,000) 1,570,000
Total 3,340,000 3,340,000
Date Explanation F Debit Credit