ACCOUNT TITLE UNADJUSTED TRIAL BALANCE ADJUSTMENTS

DEBIT CREDIT DEBIT

Cash 138,000
Accounts Receivable 300,000
Computer Equipment 700,000
Owner's equity 1,000,000
Salaries and Wages 2,400,000
Utilities Expense 420,000
Taxes and Licenses 200,000
Service Fees 3,200,000
Insurance Expense 42,000
Total 4,200,000 4,200,000

Adjusments
Depreciation Expense 35,000
Accumulated depreciation
Bad depts expense 30,000
Allowance for bad depts
Accrued expense 120,000
Total 185,000
Net loss
Total
 Wellness Massage
December 31, 20x1
ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT
CREDIT DEBIT CREDIT DEBIT CREDIT
120,000 18,000
300,000
700,000
1,000,000
2,400,000 2,400,000
420,000 420,000
200,000 200,000
3,200,000 3,200,000
42,000 42,000

35,000 35,000
35,000 35,000
30,000 30,000
30,000 30,000
120,000 120,000
185,000 4,265,000 4,265,000 3,247,000 3,200,000
47,000
3,200,000 3,200,000
 BALANCE SHEET CLOSING ENTRIES
DEBIT CREDIT DEBIT CREDIT
18,000
300,000
700,000
1,000,000 47,000
2,400,000
420,000
200,000
3,200,000
42,000

35,000
35,000
30,000
30,000
120,000
1,018,000 1,065,000 3,247,000 3,247,000
47,000
1,018,000 1,018,000
POST CLOSING TRIAL BALANCE
DEBIT CREDIT
18,000
300,000
700,000
1,047,000

35,000

35,000

1,018,000 1,117,000
1 Service Fee 3,200,000
Income Summary 3,200,000

2 Income Summary 3,247,000

Salaries and Wages 2,400,000
Utilities Expense 420,000
Taxes and licenses 200,000
Insurance Expenses 42,000
Depriciation Expense 35,000
Bad Debts Expense 30,000
Accrued Expense 120,000
3,247,000
3 Income Summary 47,000
Owner's Capital 47,000