SOLO COMPANY

ADJUSTMENT JOURNAL ENTRIES

JUNE 30, 2019
DATE ACCOUNTS REF. DEBIT CREDIT
30-Jun 30 Supplies expenses 540 $ 1.300
Supplies 130 $ 1.300

30 utility expenses 550 $ 150

utilities payable 210 $ 150

30 Insurance expense 550 $ 200

Prepaid insurance 120 $ 200

30 Unearned revenue 230 $ 2.500

Service revenue 400 $ 2.500

30 Salaries expense 510 $ 1.500

Salaries Payable 220 $ 1.500

30 Depreciated expenses 530 $ 250

Accumulated depreciation-equipment 136 $ 250

30 Accounts receiveable 110 $ 3.000

Service revenue 400 $ 3.000
TOTAL $ 8.900 $ 8.900

SOLO COMPANY
LEDGER ACCOUNTS
JUNE 30, 2019

Accounts receivable 110

cash 100 $ 6.000
$ 7.750 $ 3.000
bal. $ 7.750 bal. $ 9.000

prepaid insurance 120

supplies 130
$ 2.400 $ 2.000
$ 200 $ 1.300
bal. $ 2.200 bal. $ 700
 office equipment 135 Accum. Deprec. Office Equipent 136
$ 15.000 $ 250
bal. $ 15.000 bal. $ 250

account payable 200 utilities payable 210

$ 4.500 $ 150
bal. $ 4.500 bal. $ 150

Unearned Service Revenue 230

salaries payable 220 $ 4.000
$ 1.500 $ 2.000
bal. $ 1.500 baal. $ 1.500

share capital 300

$ 21.750
bal. $ 21.750

service revenue 400

$ 7.900 salaries expense 510
$ 2.500 $ 4.000
$ 3.000 $ 1.500
bal. $ 13.400 bal. $ 5.500

rent expense 520 depreciation expense 530

$ 1.000 $ 250
bal. $ 1.000 bal. $ 250

insurance expense 540 utilities expense 550

$ 200 $ 150
bal. $ 200 bal. $ 150

supplies expense 560

$ 1.300
bal. $ 1.300
 SOLO COMPANY
ADJUSTED TRIAL BALENCE
JUNE 30, 2019
Acc No. ACCOUNTS DEBIT CREDIT
100 Cash $ 7.750
110 Accounts receiveable $ 9.000
120 Prepaid insurance $ 2.200
130 Supplies $ 700
135 Office Equipment $ 15.000
136 Accum. Deprec. Office Equipent $ 250
200 Accounts Payable $ 4.500
210 Utilities Payable $ 150
220 Salaries payable $ 1.500
230 Unearned Service Revenue $ 1.500
300 Share Capital $ 21.750
301 Retained Earnings
400 Service Revenue $ 13.400
510 Salaries Expense $ 5.500
520 Rent Expense $ 1.000
530 Depreciation Expense $ 250
540 Insurance Expense $ 200
550 Utilities Expense $ 150
560 Supplies Expense $ 1.300
TOTAL $ 43.050 $ 43.050

SOLO COMPANY
INCOME STATEMENT
FOR THE MONTH ENDED JUNE 30, 2019
REVENUE:
SERVICE REVENUE $ 13.400
EXPENSES:
SALARIES $ 5.500
RENT $ 1.000
DEPRECIATION $ 250
INSURANCE $ 200
UTILIETIES $ 150
SUPPLIES $ 1.300
TOTAL EXPENSES $ 8.400
NET INCOME $ 5.000
 SOLO COMPANY
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED JUNE 30, 2019
RETAINED EARNINGS 1 JUNE $ -
NET INCOME $ 5.000
$ 5.000
LAST DIVIDENDS $ -
RETAINED EARNINGS 30 JUNE $ 5.000

SOLO COMPANY
STATEMENT OF FINANCIAL POSITION
JUNE 30, 2019
ASSETS:
CASH $ 7.750
ACCOUNTS RECEIVEABLE $ 9.000
PREPAID INSURANCE $ 2.200
SUPPLIES $ 700
OFFICE EQUIPMENT $ 15.000
Accum. Deprec. Office Equipment $ -250
TOTAL ASSSETS $ 34.400
EQUITY:
SHARE CAPITAL $ 21.750
RETAINED EARNINGS $ 5.000
LIABILITIES:
ACCOUNTS PAYABLE $ 4.500
UTILITIES PAYABLE $ 150
SALARIES PAYABLE $ 1.500
UNEARNED SERVICE REVENUE $ 1.500
TOTAL EQUITY + LIABILITIES $ 34.400