DREAM BALI VILLA'S AND RE

WORKSHEET
DECEMBER, 31 2019

Unadjusted
Adjusting Entry
Trial Balance
Accounts Title Dr. Cr. Dr. Cr.
Cash $ 38,000 $ - $ 10,000 $ -
Supplies $ 6,000 $ - $ - $ 3,500
Prepaid Insurance $ 12,000 $ - $ - $ 3,000
Equipment $ 52,000 $ - $ - $ -
Land $ 50,000 $ - $ - $ -
Building $ 200,000 $ - $ - $ -
Account Payable $ - $ 13,000 $ - $ -
Unearned Rent Revenue $ - $ 14,000 $ 4,000 $ 10,000
Mortgage Payable $ - $ 160,000 $ - $ -
Share Capital-Ordinary $ - $ 200,000 $ - $ -
Dividend $ 10,000 $ - $ - $ -
Rent Revenue $ - $ 120,000 $ - $ 4,000
Maintenance and Repair Expense $ 7,000 $ - $ - $ -
Salaries and Wages Expense $ 105,000 $ - $ 2,000 $ -
Utilities expense $ 27,000 $ - $ - $ -
TOTAL $ 507,000 $ 507,000
Insurance expense $ 3,000 $ -
Supplies Expense $ 3,500 $ -
Depreciation expense $ 3,300 $ -
Accumulated depreciation- Equipment $ - $ 1,300
Accumulated depreciation- Building $ - $ 2,000
Salaries and Wages Payable $ - $ 2,000
Interest expense $ 3,600 $ -
Interest payable $ - $ 3,600
TOTAL $ 29,400 $ 29,400
Net income (loss)
TOTAL
REAM BALI VILLA'S AND RESORT
WORKSHEET
DECEMBER, 31 2019

Statement of
Adjusted Trial Balance Income Statement
Financial Position
Dr. Cr. Dr. Cr. Dr. Cr.
$ 48,000 $ - $ - $ - $ 48,000 $ -
$ 2,500 $ - $ - $ - $ 2,500 $ -
$ 9,000 $ - $ - $ - $ 9,000 $ -
$ 52,000 $ - $ - $ - $ 52,000 $ -
$ 50,000 $ - $ - $ - $ 50,000 $ -
$ 200,000 $ - $ - $ - $ 200,000 $ -
$ - $ 13,000 $ - $ - $ - $ 13,000
$ - $ 20,000 $ - $ - $ - $ 20,000
$ - $ 160,000 $ - $ - $ - $ 160,000
$ - $ 200,000 $ - $ - $ - $ 200,000
$ 10,000 $ - $ - $ - $ 10,000 $ -
$ - $ 124,000 $ - $ 124,000 $ - $ -
$ 7,000 $ - $ 7,000 $ - $ - $ -
$ 107,000 $ - $ 107,000 $ - $ - $ -
$ 27,000 $ - $ 27,000 $ - $ - $ -
$ - $ - $ - $ -
$ 3,000 $ - $ 3,000 $ - $ - $ -
$ 3,500 $ - $ 3,500 $ - $ - $ -
$ 3,300 $ - $ 3,300 $ - $ - $ -
$ - $ 1,300 $ - $ - $ - $ 1,300
$ - $ 2,000 $ - $ - $ - $ 2,000
$ - $ 2,000 $ - $ - $ - $ 2,000
$ 3,600 $ - $ 3,600 $ - $ - $ -
$ - $ 3,600 $ - $ - $ - $ 3,600
$ 525,900 $ 525,900 $ 154,400 $ 124,000 $ 371,500 $ 401,900
$ - $ 30,400 $ 30,400 $ -
$ 154,400 $ 154,400 $ 401,900 $ 401,900
 DREAM BALI VILLA'S AND RESORT
INCOME STATEMENT
FOR THE MONTH ENDED DECEMBER 31 2019

Rent Revenue $ 124,000

Expenses
Maintenance and Repair Expense $ 7,000
Salaries and Wages Expense $ 107,000
Utilities expense $ 27,000
Insurance expense $ 3,000
Supplies Expense $ 3,500
Depreciation expense $ 3,300
Interest expense $ 3,600
Total expenses $ (154,400)
Net income (loss) $ (30,400)
 DREAM BALI VILLA'S AND RESORT
RETAINED EARNINGS STATEMENT
FOR THE MONTH ENDED DECEMBER 31 2019

Retained Earnings, 1 December $ -

Less : Net income (loss) $ (30,400)
Dividend $ (10,000)
Retained Earnings, 31 December $ (40,400)
 DREAM BALI VILLA'S AND RESORT
STATEMENT OF FINANCIAL POSITION
DECEMBER 31 2019

Assets
Cash $ 48,000
Supplies $ 2,500
Prepaid Insurance $ 9,000
Equipment $ 52,000
Accumulated Depreciaton - Equipment $ (1,300)
Land $ 50,000
Building $ 200,000
Accumulated Depreciation-Building $ (2,000)
Total Assets $ 358,200

Liabilities
Account Payable $ 13,000
Salaries and Wages Payable $ 2,000
Interest Payable $ 3,600
Unearned Rent Revenue $ 20,000
Mortgage Payable $ 160,000
Total Liabilities $ 198,600

Equity
Retained Earnings $ (40,400)
Share Capital-Ordinary $ 200,000
Total Equity $ 159,600
Total Equity and Liabilities $ 358,200
 DREAM BALI VILLA'S AND RESORT
CLOSING JOURNAL
DECEMBER 2019

Date Accounts Title Ref Debit

Dec 31 Rent Revenue 401 $ 124,000
Income Summary 304 $ -
31 Income Summary 304 $ 154,400
Maintenance and Repair Expense 501 $ -
Salaries and Wages Expense 502 $ -
Utilities expense 503 $ -
Insurance expense 504 $ -
Supplies Expense 505 $ -
Depreciation expense 506 $ -
Interest expense 507 $ -
31 Retained Earnings 304 $ 30,400
Income Summary 302 $ -
31 Retained Earnings 302 $ 10,000
Dividend 303 $ -
Amount $ 318,800
SORT

Credit
$ -
$ 124,000
$ -
$ 7,000
$ 107,000
$ 27,000
$ 3,000
$ 3,500
$ 3,300
$ 3,600
$ -
$ 30,400
$ -
$ 10,000
$ 318,800
 DREAM BALI VILLA'S AND RESORT
POST-CLOSING TRIAL BALANCE
December 31, 2019

Account Name Debit Credit

Cash $ 48,000 $ -
Supplies $ 2,500 $ -
Prepaid Insurance $ 9,000 $ -
Equipment $ 52,000 $ -
Accumulated Depreciaton - Equipment $ - $ 1,300
Land $ 50,000 $ -
Building $ 200,000 $ -
Accumulated Depreciation-Building $ - $ 2,000
Account Payable $ - $ 13,000
Salaries and Wages Payable $ - $ 2,000
Interest Payable $ - $ 3,600
Unearned Rent Revenue $ - $ 20,000
Mortgage Payable $ - $ 160,000
Share Capital-Ordinary $ - $ 200,000
Retained Earnings $ 40,400 $ -
Amount $ 401,900 $ 401,900