Unadjusted

Trial Balance
Debit
Cash 403,000
Accounts Receivable 10,000
Merchandise Inventory -
Prepaid Rent -
Prepaid Insurance -
Office Supplies 3,000
Van 300,000
Accumulated Depreciation - Van
Furniture and Fixtures 100,000
Accumulated Depreciation - Furniture and Fixtures
Accounts Payable
Utilities Payable
Salaries Payable
Zabala, Capital
Zabala Drawings 20,000
Sales
Sales Discounts 2,000
Sales Returns and Allowances
Purchases 950,000
Purchase Discounts
Purchase Returns and Allowances
Gas and Oil Expense 4,000
Insurance Expense 12,000
Rent Expense 60,000
Salaries Expense 22,000
Office Supplies Expense -
Utilities Expense 4,000
Depreciation Expense - Van -
Depreciation Expense - Furnutire and Fixtures -
Income Summary
Totals 1,890,000
Net Loss
 ZABALA AUTO SUPPLY
WORKSHEET
JANUARY 31, 2021
Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Credit Debit Credit Debit
403,000
10,000
50,000 50,000
50,000 50,000
11,000 11,000
2,000 1,000
300,000
- 4,000
100,000
- 1,667
-
-
- 2,000
1,500,000
20,000
380,000
2,000
-
950,000
10,000
-
4,000
11,000 1,000
50,000 10,000
2,000 24,000
2,000 2,000
4,000
4,000 4,000
1,667 1,667
- 50,000
1,890,000 120,667 120,667 1,947,667
 Adjusted Statement of
Trial Balance Income Statement Financial Position
Credit Debit Credit Debit
403,000
10,000
50,000
50,000
11,000
1,000
300,000
4,000
100,000
1,667
-
-
2,000
1,500,000
20,000
380,000 380,000
2,000
-
950,000
10,000 10,000
- -
4,000
1,000
10,000
24,000
2,000
4,000
4,000
1,667
50,000 50,000
1,947,667 1,002,667 440,000 945,000
562,667 562,667
1,002,667 1,002,667 1,507,667
 Statement of
Financial Position
Credit

4,000

1,667
-
-
2,000
1,500,000

1,507,667

1,507,667
 ZABALA AUTO SUPPLY
Income Statement
For the month ended January 31, 2021

Sales
Sales Discounts
Net Sales
Less: Cost of Goods Sold
Purchases 950,000
Purchases Discount (10,000) 940,000
Goods Available For Sale 940,000
Merchandise Inventory, End (50,000)
Gross Loss
Less: Expenses
Salaries Expense 24,000
Rent Expense 10,000
Gas and Oil Expense 4,000
Utilities Expense 4,000
Depreciation Expense - Van 4,000
Office Supplies Expense 2,000
Depreciation Expense - Furnutire and Fixtures 1,667
Insurance Expense 1,000
Net Loss
 ZABALA AUTO SUPPLY
Statement of Changes in Equity
For the month ended January 31, 2021

380,000 Zabala Capital, beginning

(2,000) Less: Net Loss 562,667
378,000 Zabala Drawings 20,000
Zabala Capital, end

890,000
512,000

50,667
562,667
 ZABALA AUTO SUPPLY
ty Statement of Financial Position
2021 For the month ended Jauary 31, 2021

1,500,000 ASSETS
Current Assets
582,667 Cash 403,000
917,333 Accounts Receivable 10,000
Merchandise Inventory, end 50,000
Prepaid Rent 50,000
Prepaid Insurance 11,000
Office Supplies 1,000
Noncurrent Assets
Van 300,000
Accumulated Depreciation - Van (4,000)
Furniture and Fixtures 100,000
Accumulated Depreciation - Furniture and Fixtures (1,667)
Total Assets

LIABILITIES AND OWNER'S EQUITY

Current Liabilities
Accounts Payable -
Utilities Payable -
Salaries Payable 2,000
Total Liabilities
Owner's Capital
Total Liabilities and Owner's Equity
1

525,000

394,333
919,333

2,000
2,000
917,333
919,333
 General Journal
Date
2021 Particulars F
Jan-31 Sales R10
Purchase Discounts E11
Income Summary E30

31 Income Summary E30

Purchases E10
Salaries Expense E50
Rent Expense E40
Gas and Oil Expense E20
Utilities Expense E70
Depreciation Expense - Van E80
Office Supplies Expense E60
Sales Discount R20
Depreciation Expense - Furnutire and Fixtures E81
Insurance Expense E30

31 Merchandise Inventory, end CA30

Income Summary E30

31 Zabala Capital E10

Income Summary E30

31 Zabala Capital E10

Zabala Drawings E20
Debit Credit
380,000
10,000
390,000

1,002,667
950,000
24,000
10,000
4,000
4,000
4,000
2,000
2,000
1,667
1,000

50,000
50,000

562,667
562,667

20,000
20,000
 CA10 - Cash
Date Description REF Debit Credit
Jan-01 1,500,000
1 60,000
1 400,000
3 3,000
3 Purchased van 300,000
3 Gas and oil expense 2,000
5 Sales 50,000
7 Sales 10,000
9 100,000
11 200,000
14 2,000
15 98,000
15 12,000
16 12,000
20 490,000
21 10,000
22 4,000
28 50,000
30 10,000
30 Drawings 20,000

CA30 - Merchandise Inventory

Date Description REF Debit Credit
31 Adjusting Entry 50,000

FA10 - Van
Date Description REF Debit Credit
3 300,000

FA20 - Furnitures and Fixtures

Date Description REF Debit Credit
100,000

CL10 - Accounts Payable

Date Description REF Debit Credit
2 100,000
9 100,000
10 500,000
20 500,000

CL30 - Salaries Payable

Date Description REF Debit Credit
31 Adjusting Entry 2,000

E20 - Zabala, Drawings

Date Description REF Debit Credit
 30 20,000
31 Closing Entry 20,000

R10 - Sales
Date Description REF Debit Credit
5 50,000
6 100,000
7 10,000
11 200,000
21 10,000
25 10,000
31 Closing Entry 380,000

R30 - Sales Returns and Allowances

Date Description REF Debit Credit

E11 - Purchase Discounts

Date Description REF Debit Credit
20 10,000
31 Closing Entry 10,000

E20 - Gas and Oil Expense

Date Description REF Debit Credit
3 2,000
 14 2,000
31 Closing Entry 4,000

E40 - Rent Expense

Date Description REF Debit Credit
1 60,000
31 Adjusting Entry 50,000
31 Closing Entry 10,000

E60 - Office Supplies Expense

Date Description REF Debit Credit
31 Adjusting Entry 2,000
31 Closing Entry 2,000

E80 - Depreciation Expense - Van

Date Description REF Debit Credit
31 Adjusting Entry 4,000
31 Closing Entry 4,000
 CA20 - Accounts Receivable
Balance Date Description REF Debit
1,500,000 Jan-06 100,000
1,440,000 15
1,040,000 25 10,000
1,037,000
737,000
735,000
785,000
795,000
695,000
895,000 CA40 - Prepaid Rent
893,000 Date Description REF Debit
991,000 Jan-31 Adjusting Entry 50,000
979,000
967,000
477,000
487,000
483,000
433,000
423,000
403,000
CA41 - Prepaid Insurance
Date Description REF Debit
Jan-31 Adjusting Entry 11,000

CA42 - Office Supplies

Balance Date Description REF Debit
50,000 3 3,000
31 Adjusting Entry

FA11 - Accumulated Depreciation - Van

Balance Date Description REF Debit
300,000 31 Adjusting Entry

FA21 - Accumulated Depreciation - Furniture and Fixtures

Balance Date Description REF Debit
100,000 31 Adjusting Entry

CL20 - Utilities Payable

Balance (Credit) Date Description REF Debit
100,000 18
- 22 4,000
500,000
-

E10 - Zabala, Capital

Balance (Credit) Date Description REF Debit
2,000 1
31 Closing Entry 562,667
31 Closing Entry 20,000

E30 - Income Summary

Balance Date Description REF Debit
 20,000 31 Adjusting Entry
0 31 Closing Entry
31 Closing Entry 1,002,667
31 Closing Entry

R20 - Sales Discounts

Balance (Credit) Date Description REF Debit
50,000 15 2,000
150,000 31 Closing Entry
160,000
360,000
370,000
380,000
0

E10 - Purchases
Balance Date Description REF Debit
1 400,000
10 500,000
28 50,000
31 Closing Entry

E12 - Purchase Returns and Allowances

Balance (Credit) Date Description REF Debit
10,000
0

E30 - Insurance Expense

Balance Date Description REF Debit
2,000 16 12,000
 4,000 31 Adjusting Entry
0 31 Closing Entry

E50 - Salaries Expense

Balance Date Description REF Debit
60,000 15 12,000
10,000 30 10,000
0 31 Adjusting Entry 2,000
31 Closing Entry

E70 - Utilities Expense

Balance Date Description REF Debit
2,000 18 4,000
0 31 Closing Entry

E81 - Depreciation Expense - Furniture and Fixtures

Balance Date Description REF Debit
4,000 31 Adjusting Entry 1,667
0 31 Closing Entry
Receivable
Credit Balance
100,000
100,000 -
10,000

d Rent
Credit Balance
50,000

nsurance
Credit Balance
11,000

upplies
Credit Balance
3,000
2,000 1,000

preciation - Van
 Credit Balance (Credit)
4,000 4,000

n - Furniture and Fixtures

Credit Balance
1,667 1,667

Payable
Credit Balance (Credit)
4,000 4,000
-

Capital
Credit Balance (Credit)
1,500,000 1,500,000
937,333
917,333

ummary
Credit Balance (Credit)
 50,000 50,000
390,000 440,000
(562,667)
562,667 0

counts
Credit Balance
2,000
2,000 0

ases
Credit Balance
400,000
900,000
950,000
950,000 0

and Allowances
Credit Balance

Expense
Credit Balance
12,000
 11,000 1,000
1,000 0

Expense
Credit Balance
12,000
22,000
24,000
24,000 0

Expense
Credit Balance
4,000
4,000 0

Furniture and Fixtures

Credit Balance
1,667
1,667 0
 ZABALA AUTO SUPPLIES
Post-closing Trial Balance
As of January 31, 2021
Debit
Cash 403,000
Accounts Receivable 10,000
Merchandise Inventory 50,000
Prepaid Rent 50,000
Prepaid Insurance 11,000
Office Supplies 1,000
Van 300,000
Accumulated Depreciation - Van
Furniture and Fixtures 100,000
Accumulated Depreciation - Furniture and Fixtures
Accounts Payable
Utilities Payable
Salaries Payable
Zabala, Capital
925,000
Credit

4,000

1,667
-
-
2,000
917,333
925,000