GENERAL JOURNAL

Date Account Titles and Explanation Ref. Debit Credit

Adjusting Entries
2020 Dec. 31 Interest Expense 300
Interest Payable 300
31 Supplies 1550
Supplies Expense 1550
31 Depreciation Expense 1000
Accumulated Depreciation-Equipment 1000
31 Insurance Expense 1225
Prepaid Insurance 1225
31 Unearned Service Revenue 8000
Service Revenue 8000
31 Accounts Receivable 4200
Service Revenue 4200
31 Salaries and Wages Expense 5400
Salaries and Wage Payable 5400
 GENERAL JOURNAL
Account Titles and Explanation Ref. Debit Credit Before Adjustment
1 Account Receivable 2,400 8,800
Service Revenue 2,400 34,000
2 Supplies Expense 1,600 0
Supplies 1,600 700
3 Insurance Expense 1,500 0
Prepaid Insurance 1,500 2,500
4 Depreciation Expense 900 0
Accumulated Depreciation—Equipment 900 3,600
5 Salaries and Wages Expense 1,100 17,000
Salaries and Wages Payable 1,100 0
6 Unearned Rent Revenue 1,100 400
Rent Revenue 1,100 11,000
After Adjustment
11,200
36,400
1,600
2,300
1,500
4,000
900
4,500
18,100
1,100
1,500
12,100
 Matusiak OAO
Income Statement
August 31,2020

Revernues
Service revenue 36,400
Rent Revenue 12,100
Total revenues 48,500
Expenses
Salaries an wages expense 18,100
Supplies expense 1,600
Depreciation expense 900
Total expenses 37,100
Net income 11,400
 Matusiak OAO
Retained Earning Statement
August 31,2020

Amount (€)
Beginning Retained Earnings (Aug 31, 2019) 3,000
Add: Net Income 11,400
Total Available for Distribution 14,400
Less: Dividends (Assuming None) 0
Ending Retained Earnings (Aug 31, 2020) 14,400