DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT

101 Cash in Bank 22,323 22,323 22,323

115 Accts. Receivable 1,737 1,737 1,737
125 Merchandise Inventory 23,654 534 24,188 24,188
130 Supplies 3,971 2,922 1,049 1,049
135 Prepaid Insurance 1,800 675 1,125 1,125
140 Store Equipment 25,395 25,395 25,395
145 Office Equipment 15,239 15,239 15,239
201 Accounts Payable 11,051 11,051 11,051
207 Federal Corporate Income Tax Payable 177 177 177
210 Employees' Federal Income Tax Payable 519 519 519
211 Employees' State Income Tax Payable 142 142 142
212 Social Security Tax Payable 408 408 408
213 Medicare Tax Payable 137 137 137
215 Sales Tax Payable 1,871 1,871 1,871
216 Federal Unemployment Tax Payable 51 51 51
217 State Unemployement Tax Payable 263 263 263
301 Capital Stock 40,000 40,000 40,000
305 Retained Earnings 14,908 14,908 14,908
310 Income Summary 534 534 534
401 Sales 128,231 128,231 128,231
405 Sales Discounts 214 214 214
410 Sales Returns and Allowances 1,289 1,289 1,289
501 Purchases 67,118 67,118 67,118
505 Transportation In 1,172 1,172 1,172
510 Purchases Discounts 810 810 810
515 Purchases Returns and Allowances 322 322 322
601 Advertising Expense 2,938 2,938 2,938
605 Bankcard Fees Expense 185 185 185
620 Federal Corporate Inocme Tax Expense 3,650 177 3,827 3,827
630 Insurance Expense 675 675 675
640 Maintenance Expense 2,450 2,450 2,450
645 Miscellaneous Expense 3,929 3,929 3,929
647 Payroll Tax Expense 834 834 834
650 Rent Expense 10,750 10,750 10,750
655 Salaries Expense 4,670 4,670 4,670
660 Supplies Expense 2,922 2,922 2,922
670 Utilities Expense 5,395 5,395 5,395
198,713 198,713 4,308 4,308 199,424 199,424 108,368 129,897 91,056 69,527
Net Income 21,529 21,529
129,897 129,897 91,056 91,056
INCOME STATEMENT BALANCE SHEET
Shutterbug Cameras
Worksheet
For the Year Ended August 31, 2010
ACCOUNT NAME
ACCT
NO.
TRIAL BALANCE ADJUSTMENTS
ADJUSTED TRIAL
BALANCE
PAGE 6
DESCRIPTION
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GENERAL JOURNAL
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General Ledger (Partial)
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Date Transaction
1-May Jack Hines invested $50,000 in the business, Memo 1.
2-May
The owner, Jack Hines, invested a desktop computer and printer
(Office Equipment) worth $3,500, Memo 2.
2-May Issued Check 101 for $125 for the purchase of office supplies.
Bought office furniture for $2,700 on account from Office Systems,
Invoice 457.
Bought a Web Server from Computer Specialists Inc. on account for
$35,000, Invoice WS 972.
Received $1,500 from James Mason for Web site services