month

Date day

Journal Doc. Post General Account Title No. ref. Debt Credit

Sales Credit Debt

Cash Credit

Totals

Proving Journal Debit column totals general sales cash totals $ $ $ Credit column totals $ $ $ $ -

Proving Cash Cash on hand at the beginning of the month Plus total cash received during the month Subtotal Less total cash paid during the month cash balance at the end of the month Checkbook balance on the next check stub $ $ $ $ $ -

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

Account: Date Item Post Ref Debit

Account No. Balance Credit

nt No. Balance

nt No. Balance

nt No. Balance

nt No. Balance

nt No. Balance

nt No. Balance

nt No. Balance

Account Title Cash Petty Cash Accounts Receivable Allow. for Uncoll. Accts. Merchandise Inventory Supplies-Office Supplies-Store Prepaid Insurance Office Equipment Acc. Depr. -Office Equipment Store Equipment Acc. Depr. -Store Equipment Accounts Payable Federal Income Tax Payable Emp. Income Tax Payable Social Security Tax Payable Medicare Tax Payable Sales Tax Payable Unemployment Tax Pay.-Fed Unemployment Tax Pay.-State Health Ins. Premiums Pay. U.S. Savings Bonds Payable United Way Donations Pay. Dividends Payable Capital Stock Retained Earnings Dividends Income Summary Sales Tax Payable Sales Discount Sales Returns and Allowances Purchases Purchases Discount Purch. Returns and Allowance Advertising Expense Cash Short and Over Credit Card Fee Expense Depr. Exp. -Office Equipment Depr. Exp. -Store Equipment Insurance Expense Miscellandeouse Expense $ $ $ $ $ $ $ $ $

Carol's Closet Worksheet For Year Ended December 31, 20-Trial Balance Adjustments Debit Credit Debit Credit 28,548.25 500.00 32,518.28 $ 155.25 229,282.36 6,128.25 4,218.36 12,000.00 28,187.25 $ 5,158.25 42,841.05 $ 12,483.25 $ 21,543.20 $ $ $ $ $ $ $ $ $ $ $ $ 1,248.25 822.00 192.24 2,415.25 33.60 226.80 960.00 75.00 100.00 11,000.00 55,000.00 172,980.13

44,000.00 $ 948,484.25

$ $ $

3,154.15 7,148.15 489,335.54 $ $ 5,015.25 7,058.05

$ $ $

16,025.00 7.25 7,015.95

5,098.00

Payroll Taxes Expense Rent Expense Salary Expense Supplies Expense- Office Supplies Expense-Store Uncollectible Accounts Expense Utilities Expense Federal Income Tax Expense

$ $ $

18,152.25 28,000.00 193,971.80

$ $

4,818.88 44,000.00

$ 1,244,950.77 $ 1,244,950.77

31, 20-Income Statement Debit Credit $ $ $ Balance Sheet Debit Credit 28,548.25 500.00 32,518.28 $ 155.25

Before Federal Income Tax Total of Income Statement Credit Column Total of Income Statement Debit Column Net Income Before Federal Income Tax Federal Income Tax $ 50,000.00 $ 25,000.00 $ 25,000.00 minus 100000 =

First Next Next $

$ $

28,187.25 42,841.05 $ 21,543.20

$ 1,248.25 $ 822.00 $ 192.24 $ 2,415.25 $ 33.60 $ 226.80 $ 960.00 $ 75.00 $ 100.00 $ 11,000.00 $ 55,000.00 $ 172,980.13 $ $ 948,484.25 44,000.00

$ $ 948,484.25 $ ######### ######### $ 948,484.25 $

176,594.83 $ 266,751.72 $ 948,484.25 176,594.83 ###########

deral Income Tax ent Credit Column ent Debit Column eral Income Tax Federal Income Tax

$ Rate

Tax 7,500.00 6,250.00 8,500.00 (39,000.00) (16,750.00)

$ (100,000.00) Total Federal Income Tax

15% 25% 34% 39%

$ $ $ $ $