Trial Bal

Loan payable 4862 Loan payable 1347 Account Debit (Credit) Account Trial Bal Beg ADJ Ending Balance Sheet
Loan amount 100,000 Loan amount 40,000 Loan Payable Short Term 90,585 Cash 1,004,084 1,004,084 December 31
Interest rate 9% Interest rate 8% Loan Payable Long Term (90,585) Accounts receivable 250,000 250,000 Assets Liabilities
Number of monthly payments 36 Number of monthly payments 60 Accounts Payable (20,000) (20,000) Current asset: Current liabilities:
Payment amount 3,180 Payment amount 811 Loan Payable Short Term (128,767) 90,585 (38,182) Cash 1,004,084 Accounts Payable 20,000
Loan Payable Long Term 0 (90,585) (90,585) Accounts Receivable 250,000 Notes Payable Current Portion 38,182
Principal Principal Retained Earnings (409,301) (409,301) Total Assets 1,254,084 Total current liabilities 58,182
Payment Interest Reduction Principal Payment Interest Reduction Principal Sales (700,000) (700,000)
0 100,000 0 40,000 Cost of goods sold 0 0 Note Payable Long Term Portion 90,585
1 3,180 750 2,430 97,570 1 811 267 544 39,456 Interest expense 3,985 3,985
2 3,180 732 2,448 95,122 2 811 263 548 38,908 Wages Expense 0 0 Total Liabilities 148,767
3 3,180 713 2,467 92,655 3 811 259 552 38,356 0 0 0
4 3,180 695 2,485 90,170 4 811 256 555 37,801 Net income (696,015) 0 (696,015) Stockholders' Equity
5 3,180 676 2,504 87,667 5 811 252 559 37,242 Retained Earnings 1,105,316
6 3,180 657 2,522 85,144 6 811 248 563 36,679
7 3,180 639 2,541 82,603 7 811 245 567 36,112 ST Total assets 1,254,084 Total liabilities and owner's equity 1,254,084
8 3,180 620 2,560 80,042 8 811 241 570 35,542 Loan payable 4862 31,082
9 3,180 600 2,580 77,463 9 811 237 574 34,968 Loan payable 1347 7,100
10 3,180 581 2,599 74,864 10 811 233 578 34,390 Total ST 38,182
11 3,180 561 2,618 72,245 11 811 229 582 33,808
12 3,180 542 2,638 69,607 12 811 225 586 33,222 LT
13 3,180 522 2,658 66,949 13 811 221 590 32,633 Loan payable 4862 61,573
14 3,180 502 2,678 64,271 14 811 218 594 32,039 Loan payable 1347 29,012
15 3,180 482 2,698 61,573 31,082 15 811 214 597 31,442 Total LT 90,585
16 3,180 462 2,718 58,855 16 811 210 601 30,840
17 3,180 441 2,739 56,116 17 811 206 605 30,235 Total 128,767
18 3,180 421 2,759 53,357 18 811 202 609 29,625
19 3,180 400 2,780 50,578 19 811 198 614 29,012 7,100
20 3,180 379 2,801 47,777 20 811 193 618 28,394
21 3,180 358 2,822 44,955 21 811 189 622 27,773
22 3,180 337 2,843 42,112 22 811 185 626 27,147
23 3,180 316 2,864 39,248 23 811 181 630 26,517
24 3,180 294 2,886 36,363 24 811 177 634 25,882
25 3,180 273 2,907 33,455 25 811 173 639 25,244
26 3,180 251 2,929 30,526 26 811 168 643 24,601
27 3,180 229 2,951 27,575 27 811 164 647 23,954
28 3,180 207 2,973 24,602 28 811 160 651 23,303
29 3,180 185 2,995 21,607 29 811 155 656 22,647
30 3,180 162 3,018 18,589 30 811 151 660 21,987
31 3,180 139 3,041 15,548 31 811 147 664 21,322
32 3,180 117 3,063 12,485 32 811 142 669 20,653
33 3,180 94 3,086 9,399 33 811 138 673 19,980
34 3,180 70 3,109 6,289 34 811 133 678 19,302
35 3,180 47 3,133 3,156 35 811 129 682 18,620
36 3,180 24 3,156 0 36 811 124 687 17,933
37 811 120 692 17,241
38 811 115 696 16,545
39 811 110 701 15,845
40 811 106 705 15,139
41 811 101 710 14,429
42 811 96 715 13,714
43 811 91 720 12,994
44 811 87 724 12,270
45 811 82 729 11,541
46 811 77 734 10,807
47 811 72 739 10,068
48 811 67 744 9,324
49 811 62 749 8,575
50 811 57 754 7,821
51 811 52 759 7,062
52 811 47 764 6,298
53 811 42 769 5,529
54 811 37 774 4,755
55 811 32 779 3,975
56 811 27 785 3,191
57 811 21 790 2,401
58 811 16 795 1,606
59 811 11 800 806
60 811 5 806 0
 Trial Bal
Loan payable 4862 Loan payable 1347 Account Debit (Credit) Account Trial Bal Beg ADJ Ending Balance Sheet
Loan amount 100,000 Loan amount 40,000 Cash 1,004,084 1,004,084 December 31
Interest rate 9% Interest rate 8% Accounts receivable 250,000 250,000 Assets Liabilities
Number of monthly payments 36 Number of monthly payments 60 Accounts Payable (20,000) (20,000) Current asset: Current liabilities:
Payment amount 3,180 Payment amount 811 Loan Payable Short Term (128,767) (128,767) Cash 1,004,084 Accounts Payable 20,000
Loan Payable Long Term 0 0 Accounts Receivable 250,000 Notes Payable Current Portion
Principal Principal Retained Earnings (409,301) (409,301) Total Assets 1,254,084 Total current liabilities 20,000
Payment Interest Reduction Principal Payment Interest Reduction Principal Sales (700,000) (700,000)
0 100,000 0 40,000 Cost of goods sold 0 0 Note Payable Long Term Portion
1 3,180 750 2,430 97,570 1 811 267 544 39,456 Interest expense 3,985 3,985
2 3,180 732 2,448 95,122 2 811 263 548 38,908 Wages Expense 0 0 Total Liabilities 20,000
3 3,180 713 2,467 92,655 3 811 259 552 38,356 0 0 0
4 3,180 695 2,485 90,170 4 811 256 555 37,801 Net income (696,015) 0 (696,015) Stockholders' Equity
5 3,180 676 2,504 87,667 5 811 252 559 37,242 Retained Earnings 1,105,316
6 3,180 657 2,522 85,144 6 811 248 563 36,679
7 3,180 639 2,541 82,603 7 811 245 567 36,112 ST Total assets 1,254,084 Total liabilities and owner's equity 1,125,316
8 3,180 620 2,560 80,042 8 811 241 570 35,542
9 3,180 600 2,580 77,463 9 811 237 574 34,968
10 3,180 581 2,599 74,864 10 811 233 578 34,390
11 3,180 561 2,618 72,245 11 811 229 582 33,808
12 3,180 542 2,638 69,607 12 811 225 586 33,222 LT
13 3,180 522 2,658 66,949 13 811 221 590 32,633
14 3,180 502 2,678 64,271 14 811 218 594 32,039
15 3,180 482 2,698 61,573 15 811 214 597 31,442
16 3,180 462 2,718 58,855 16 811 210 601 30,840
17 3,180 441 2,739 56,116 17 811 206 605 30,235 Total
18 3,180 421 2,759 53,357 18 811 202 609 29,625
19 3,180 400 2,780 50,578 19 811 198 614 29,012
20 3,180 379 2,801 47,777 20 811 193 618 28,394
21 3,180 358 2,822 44,955 21 811 189 622 27,773
22 3,180 337 2,843 42,112 22 811 185 626 27,147
23 3,180 316 2,864 39,248 23 811 181 630 26,517
24 3,180 294 2,886 36,363 24 811 177 634 25,882
25 3,180 273 2,907 33,455 25 811 173 639 25,244
26 3,180 251 2,929 30,526 26 811 168 643 24,601
27 3,180 229 2,951 27,575 27 811 164 647 23,954
28 3,180 207 2,973 24,602 28 811 160 651 23,303
29 3,180 185 2,995 21,607 29 811 155 656 22,647
30 3,180 162 3,018 18,589 30 811 151 660 21,987
31 3,180 139 3,041 15,548 31 811 147 664 21,322
32 3,180 117 3,063 12,485 32 811 142 669 20,653
33 3,180 94 3,086 9,399 33 811 138 673 19,980
34 3,180 70 3,109 6,289 34 811 133 678 19,302
35 3,180 47 3,133 3,156 35 811 129 682 18,620
36 3,180 24 3,156 0 36 811 124 687 17,933
37 811 120 692 17,241
38 811 115 696 16,545
39 811 110 701 15,845
40 811 106 705 15,139
41 811 101 710 14,429
42 811 96 715 13,714
43 811 91 720 12,994
44 811 87 724 12,270
45 811 82 729 11,541
46 811 77 734 10,807
47 811 72 739 10,068
48 811 67 744 9,324
49 811 62 749 8,575
50 811 57 754 7,821
51 811 52 759 7,062
52 811 47 764 6,298
53 811 42 769 5,529
54 811 37 774 4,755
55 811 32 779 3,975
56 811 27 785 3,191
57 811 21 790 2,401
58 811 16 795 1,606
59 811 11 800 806
60 811 5 806 0