Transactions directly in the T accounts
|
Cash | |||
|
a. |
$30,000 |
b. |
$2,500 |
|
g. |
$9,000 |
c. |
$6,000 |
|
e. |
$2,100 | ||
|
f. |
$3,600 | ||
|
h |
$2,600 | ||
|
i |
$4,000 | ||
|
j |
$1,875 | ||
|
m |
$6,000 | ||
|
n |
$1,300 | ||
|
Bal. |
$9025 | ||
|
Accounts Receivable | |||
|
l |
$31,400 | ||
|
Supplies | |||
|
e. |
$2,100 | ||
|
Prepaid Insurance | |||
|
f. |
$3,600 | ||
|
Automobiles | |||
|
c. |
$28,500 | ||
|
Equipment | |||
|
d. |
$8,000 | ||
|
Notes Payable | |||
|
j |
$1,875 |
c. |
$22,500 |
|
Bal. |
$20,625 | ||
|
Accounts Payable | |||
|
i |
$4,000 |
d |
$8,000 |
|
k |
$5,500 | ||
|
Bal. |
$9,500 | ||
|
Common Stock | |||
|
a |
$30,000 | ||
|
Professional Fees | |||
|
g. |
$9,000 | ||
|
l |
$31,400 | ||
|
Bal. |
$40,400 | ||
|
Salary Expense | |||
|
m. |
$6,000 | ||
|
Blueprint Expense | |||
|
k |
$5,500 | ||
|
Rent Expense | |||
|
b. |
$2,500 | ||
|
Misc. Expense | |||
|
h |
$2,600 | ||
|
Automobile Expense | |||
|
n. |
$1,300 | ||
|
UNADJUSTED TRIAL BALANCE | |||
|
01/01/18 | |||
|
ACCOUNT TITLE |
DEBIT |
CREDIT | |
|
1 |
Cash |
$9025 | |
|
2 |
Accounts Receivable |
$31,400 | |
|
3 |
Supplies |
$2,100 | |
|
4 |
Prepaid Insurance |
$3,600 | |
|
5 |
Automobiles |
$28,500 | |
|
6 |
Equipment |
$8,000 | |
|
7 |
Notes Payable |
$20,625 | |
|
8 |
Accounts Payable |
$9,500 | |
|
9 |
Common Stock |
$30,000 | |
|
10 |
Professional Fees |
$40,400 | |
|
11 |
Salary Expense |
$6,000 | |
|
12 |
Blueprint Expense |
$5,500 | |
|
13 |
Rent Expense |
$2,500 | |
|
14 |
Automobile Expense |
$1,300 | |
|
15 |
Miscellaneous Expense |
$2,600 | |
|
16 |
Totals |
$100,525 |
$100,525 |
|
Calulation of net income | |||
|
Professional Fees |
$40,400 | ||
|
Less: Expenses | |||
|
Salary Expense |
$6,000 | ||
|
Blueprint Expense |
$5,500 | ||
|
Rent Expense |
$2,500 | ||
|
Automobile Expense |
$1,300 | ||
|
Miscellaneous Expense |
$2,600 |
$17,900 | |
|
Net income |
$22,500 | ||
