Income Fixed

Statement Balance Sheet Current Asset Asset

Accounts Payable 0 1 0 0
Accounts Receivable 0 1 1 0
Advertising Expense 1 0 0 0
Cash 0 1 1 0
Capital 0 1 0 0
Equipment 0 1 0 1
Fees Income 1 0 0 0
Machinery 0 1 0 1
Mortgage Payable 0 1 0 0
Notes Receivable 0 1 1 0
Other Income 1 0 0 0
Salaries Expense 1 0 0 0
Supplies 0 1 1 0
Supplies Expense 1 0 0 0
Current Liability Long-Term Liability
1 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 1
0 0
0 0
0 0
0 0
0 0
 Debit Credit
Capital is increased 0 1
Cash is decreased 0 1
Accouns Payable is increased 0 1
Rent Expense is increased 1 0
Equipment is increased 1 0
Fees Income is increased 0 1
Capital is decreased (through dr 1 0
 Nalezny Advertising Nalezny Advertising
Adjusting Entries Income Statement
December 31,2019 December 31, 2019
Date Account Titles Debit Credit Revenues
Dec Advertising revenue
31 Accounts Receivable 1,500 Expenses
Advertising Revenue 1,500 Salaries and wages exp
31 Unearned Advertising Revenue 1,400 Depreciation expense
Advertising Revenue 1,400 Rent expense
31 Supplies Expense 3,400 Supplies expense
Supplies 3,400 Total expenses
31 Depreciation Expense 7,000 Net Income
Accumulated Depreciation-Equipment 7,000
31 Salaries and Wages Expense 1,300
Salaries and Wages Payable 1,300
ezny Advertising Nalezny Advertising
ome Statement Retained Earning Statement
cember 31, 2019 December 31, 3019
Retained Earning, January 4,800
61,500 Add : Net Income 35,800
Retained Earning, Decembe 40,600
11,300
7,000
4,000
3,400
25,700
35,800
 Nalezny Advertising
Statement of Financial Position
December 31, 2019
Assets
Equipment 60,000
Less : Accumulated depreciation-equ 35,000 25,000
Supplies 5,000
Account Receivable 21,500
Cash 11,000
Total Assets 62,500
Equity and Liabilities
Equity 10,000
Share Capital-ordinary 40,600
Retained Earning 50,600
Total Equity
Liabilities
Accounts Payable 5,000
Unearned advertising revenue 5,600
Salaries and Wages Payable 1,300
Total Liabilities 11,900
Total Equity and Liabilities 62,500