Weddings "R" Us

Worksheet
For the Month Ended May 31, 2015

TRIAL TRIAL
UNADJUSTED BALANCE ADJUSTING BALANCE ADJUSTED TRIAL INCOME STATEMENT BALANCE SHEET
BALANCE
ACCOUNTS DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT

Cash 22,200 22,200 22000

Accounts Receivable 12,000 5,300 17300 17300
Supplies 18,000 3000 15000 15000
Prepaid Rent 8,000 4,000 4000 4000
Prepaid Insurance 14,400 1,200 13200 13200
Service Vehicle 420,000 420000 420000

Acc Dep: Service Vehicle 4000 4000 4000

Office Equipment 60,000 60000 60000

Acc Dep: Office Equipment 1,000 1000 1000

Notes Payable 210,000 210000 210000
Accounts Payable 53,000 53000 53000
Salaries Payable 1800 1800 1800
Utilities Payable 1,400 1400 1400
Interest Payable 3,500 3500 3500
Unearned Referral
Revenues 10,000 4000 6000 6000
Perez-Manalo, Capital 250,000 250000 25000
Perez-Manalo, Drawing 14,000 14000 14000
Consulting Revenue 62,400 5300 67700 67700
Referral Revenues 4,000 4000 4000
Salaries Expense 13,800 1800 15600 15600
Supplies Expense 3000 3000 300
Rent Expense 4000 4000 4000
Insurance Expense 1200 1200 1200
Utilities Expense 4,400 4400 4400
Dep Exp: Service Vehicle 4000 4000 4000
Dep Exp: Office Equipment 1000 1000 1000
Interest Expense 3500 3500 3500
586,800 586,800 27,800 27800 602,400 602400 34000 565700 530700
71700 71700 35000
565700 565700
 Weddings "R" Us
Income Statement
For the Month Ended May 31, 2015

REVENUES
Consulting Revenues 67700
Refferal Revenues 4000
TOTAL 71700

EXPENSES
Salaries Expense 15,600
Supplies Expense 3,000
Rent Expense 4,000
Insurance Expense 1,200
Utilities Expense 4,400
Depreciation Exp. - Service Vehicle 4,000
Depreciation Exp. - Office Equipment 1,000
Interest Expense 3,500
TOTAL (36700)
35000
 Weddings "R" Us
Statement of Changes in Owner’s Equity
For the Month Ended May 31, 2015

Diaz, Owner's equity, 5/1/2015 250,000

Net Income 35,000
Total 285,000
Diaz, Drawing (14,000)
Diaz, Owner's Equity, 5/31/2015 271,000
 Weddings "R" Us
Statement of Financial Position
As of May 31, 2015

Assets
Current Assets
Cash 22,200
Accounts Receivable 17,300
Supplies 15,000
Prepaid Rent 4,000
Prepaid Insurance 13,200
Total Current Assets 71,700

Property and Equipment (Net)

Service Vehicles 420,000
Less: Accumulated Depreciation 4,000 416,000
Office Equipment 60,000
Less: Accumulated Depreciation 1,000 59,000 475,000
Total Assets 546,700
 Liabilities
Current Liabilities
Notes Payable 210,000
Accounts Payable 53,000
Salaries Payable 1,800
Utilities Payable 1,400
Interest Payable 3,500
Unearned Referral Revenues 6,000
Total Current Liabilities 275,700
Owner’s Equity
Diaz Capital, 5/31/2015 271,000
Total Liabilities and Owner's 546,700
Equity