Accounting

Account no.
101
112
126
130
151
152
200
201
212
230
301
306
400
610
631
711
722
726
905
Account titles
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Accumulated Depreciation Equipment
Notes Payable
Accounts Payable
Salaries and Wages Payable
Interest Payable
Owner's Capital
Owner's Drawings
Service Revenue
Advertising Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Salaries and Wage Expense
Interest Expense
Totals
Net Income
Totals
Adjusted Trial Balance

Dr.
Cr.
5,300.00
10,800.00
1,500.00
2,000.00
27,000.00
Income Statement
Dr.
Cr.
Balance sheet
Dr.
Cr.
5,300.00
10,800.00
1,500.00
2,000.00
27,000.00
5,600.00
5,600.00
15,000.00
6,100.00
2,400.00
600.00
13,000.00
15,000.00
6,100.00
2,400.00
600.00
13,000.00
7,000.00
7,000.00
61,000.00
61,000.00
8,400.00
8,400.00
4,000.00
4,000.00
5,600.00
5,600.00
3,500.00
3,500.00
28,000.00
28,000.00
600.00
600.00
$103,700.00 $103,700.00 $ 50,100.00 $ 61,000.00 $ 53,600.00 $ 42,700.00
$10,900.00
$10,900.00
$103,700.00 $103,700.00 $ 61,000.00 $ 61,000.00 $ 53,600.00 $ 53,600.00
TAJ COMPANY
INCOME STATEMENT
For the Year Ended December 31, 2012
Revenues
Service Revenue
$61,000.00
Expenses
Advertising Expense
$8,400.00
Supplies Expense
4,000.00
5,600.00
Insurance Expense
3,500.00
28,000.00
Interest Expense
600.00
Total expenses
$50,100.00
Net Income
$10,900.00
TAJ COMPANY
OWNER'S EQUITY STATEMENT
Owner's Capital
Investments
$13,000.00
Net Income
10,900.00
Owner's Drawings
Owner's Capital
$23,900.00
7,000.00
$16,900.00
TAJ COMPANY
BALANCE SHEET
ASSETS
$
Cash
5,300.00
10,800.00
Accounts Receivable
Supplies
1,500.00
Prepaid Insurance
2,000.00
27,000.00
Equipment
Accumulated Depreciation - Equipment
5,600.00 $
21,400.00
41,000.00
Total Assets
LIABILITIES AND OWNER'S EQUITY

Current Liabilities
Notes Payable
5,000.00
Accounts Payable
6,100.00
2,400.00
Interest Payable
600.00
14,100.00
Long-term Liabilities
10,000.00
Notes Payable
Total liabilities
24,100.00
16,900.00
41,000.00
Owner's Equity
Owner's Capital
Total Liabilities and Owner's Equity
General Journal
Date
Dec. 31
Account titles and explanation

Service Revenue
Income Summary
Dec.31
Dec.31
Income Summary
Ref.
Dr.
400
61,000.00
61,000.00
350
350
Cr.
50,100.00
Advertising Expense
610
8,400.00
Supplies Expense
631
4,000.00
711
5,600.00
Insurance Expense
722
3,500.00
726
28,000.00
Interest Expense
905
600.00
Income Summary
Owner's Capital
Dec.31
J14
Owner's Capital
Owner's drawings
350
10,900.00
10,900.00
301
301
306
7,000.00
7,000.00
Owners Capital
Date
Jan 1
Balance
No. 301
Ref.
Dec 31
Closing Entry
J14
Dec 31
Closing Entry
J14
Dr.
Cr.
Balance
13,000
13,000
10,900
23,900
7,000
16,900
Owners Drawing
Date
No. 306
Ref.
Dr.
7,000
Dec 31
Balance
J14
Dec 31
Closing Entry
J14
Cr.
7,000
7,000
Income Summary
Date
Ref.
Balance
0
No. 350
Dr.
Cr.
Balance
61,000
61,000
Dec 31
Closing Entry
Dec 31
Closing Entry
J14
50,100
10,900
Dec 31
Closing Entry
J14
10,900
Service Revenue
Date
Dec 31
Balance
31
Closing entry
No.400
Ref.
J14
Dr.
Cr.
Balance
61,000
61,000
61,000
Advertising Expense
Date
Dec 31
31
Ref.
Balance
No.610
Dr.
Cr.
8,400
Closing entry
J14
8,400
8,400
Supplies Expense
Date
31
31
Ref.
Balance
Dr.
Cr.
J14
31
31
Ref.
Balance
Closing entry
4,000
No.711
Dr.
Cr.
5,600
J14
Balance
4,000
Date
No.631
4,000
Closing entry
Balance
Balance
5,600
5,600
Insurance Expense
Date
31
Balance
31
Closing entry
Ref.
No.722
Dr.
Cr.
3,500
J14
3,500
3,500
Salaries Expense
Date
31
Balance
31
Closing entry
Ref.
Dr.
Cr.
28,000
J14
31
Balance
31
Closing entry
Ref.
Balance
28,000
28,000
No.905
Dr.
Cr.
600
J14
No.726
Interest Expense
Date
Balance
Balance
600
600
TAJ COMPANY
Post-Closing Trial Balance
Dr.
Cash
Accounts Receivable
Cr.
5,300.00
10,800.00
Supplies
1,500.00
Prepaid Insurance
2,000.00
Equipment
27,000.00
Accumulated Depreciation - Equipment
Notes Payable
5,600.00
15,000.00
Accounts Payable
6,100.00
2,400.00
Interest Payable
600.00
Owner's Capital
16,900.00
Totals
46,600.00 $
46,600.00

Accounting

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Accounting

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Account no.

Adjusted Trial Balance

Salaries and Wage Expense

LIABILITIES AND OWNER'S EQUITY

Salaries and Wages Payable

Total Liabilities and Owner's Equity

Account titles and explanation

Salaries and Wage Expense

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Account titles and explanation

Accumulated Depreciation - Equipment

Salaries and Wages Payable

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