Work Sheet

Accounts Trial Balance Adjustments Adjusted Trial

Dr. Cr. Dr. Cr. Dr. Cr.
Cash 27,020 27,020
Accounts Receivable 59,200 1,500 60,700
Unexpired Insurance 900 300 600
Prepaid Rent 3,000 1,000 2,000
Office Supplies 600 200 400
Equipment 60,000 60,000
Accumulated Dep:Equipment 29,500 500 30,000
Accounts Payable 4,180 4,180
Notes Payable 12,000 12,000
Salaries payable 2,700 2,700
Interest Payable 320 80 400
Unearned Fees 6,000 2,500 3,500
Income Taxes payable 4,000 3,000 7,000
Unearned Revenue 20,000 20,000
Retained Earnings 49,000 49,000
Capital Stock 25,000 25,000
Dividends 3,000 3,000
Fees Earned 75,000 4,000 79,000
Travel Expense 5,000 5,000
Insurance Expense 2,980 300 3,280
Rent Expense 9,900 1,000 10,900
Office Supplies Expense 780 200 980
Utilities Expense 4,800 4,800
Depreciation Expense: Equipment 5,500 500 6,000
Salaries Expense 30,000 2,700 32,700
Interest Expense 320 80 400
Income Taxes Expense 12,000 3,000 15,000

225,000 225,000 11,780 11,780 232,780 232,780

Income Statement Balance Sheet
Dr. Cr. Dr. Cr.
27,020
60,700
600
2,000
400
60,000
30,000
4,180
12,000
2,700
400
3,500
7,000
20,000
49,000
25,000
3,000
79,000
5,000
3,280
10,900
980
4,800
6,000
32,700
400
15,000

79,060 79,000 153,720 153,780

60 60
79,060 79,060 153,780 153,780
Accounts Trial Balance Adjustments Adjusted Trial Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 13,900 13,900 13,900
Accounts Receivable 78,000 6,400 84,400 84,400
Unexpired Insurance 18,000 3,000 15,000 15,000
Prepaid Advertising 2,200 1,100 1,100 1,100
Climbing Supplies 4,900 2,900 2,000 2,000
Climbing Equipment 57,600 57,600 57,600
Accumulated Dep: Climbing Eq 38,400 1,200 39,600 39,600
Accounts Payable 1,250 1,250 1,250
Notes Payable 10,000 10,000 10,000
Salaries Payable 3,100 3,100 3,100
Interest Payable 150 75 225 225
Income Taxes payable 1,200 1,250 2,450 2,450
Unearned Client Revenue 9,600 6,600 3,000 3,000
Capital Stock 17,000 17,000 17,000
Retained Earnings 62,400 62,400 97,375
Client Revenue Earned 188,000 13,000 201,000 201,000
Advertising Expense 7,400 1,100 8,500 8,500
Insurance Expense 33,000 3,000 36,000 36,000
Rent Expense 16,500 16,500 16,500
Climbing Supplies Expense 8,400 2,900 11,300 11,300
Repairs Expense 4,800 4,800 4,800
Depreciation Expense: Climbing Eq 13,200 1,200 14,400 14,400
Salaries Expense 57,200 3,100 60,300 60,300
Interest Expense 150 75 225 225
Income Taxes Expense 12,750 1,250 14,000 14,000

328,000 328,000 25,625 25,625 340,025 340,025 166,025 201,000 174,000 174,000
Net Income 34,975 -
201,000 201,000 174,000 174,000
 Work Sheet
Accounts Trial Balance Adjustments Adjusted Trial Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 13,900 13,900 13,900
Accounts Receivable 78,000 6,400 84,400 84,400
Unexpired Insurance 18,000 3,000 15,000 15,000
Prepaid Advertising 2,200 1,100 1,100 1,100
Climbing Supplies 4,900 2,900 2,000 2,000
Climbing Equipment 57,600 57,600 57,600
Accumulated Dep: Climbing Eq 38,400 1,200 39,600 39,600
Accounts Payable 1,250 1,250 1,250
Notes Payable 10,000 10,000 10,000
Salaries Payable 3,100 3,100 3,100
Interest Payable 150 75 225 225
Income Taxes payable 1,200 1,250 2,450 2,450
Unearned Client Revenue 9,600 6,600 3,000 3,000
Capital Stock 17,000 17,000 17,000
Retained Earnings 62,400 62,400 97,375
Client Revenue Earned 188,000 13,000 201,000 201,000
Advertising Expense 7,400 1,100 8,500 8,500
Insurance Expense 33,000 3,000 36,000 36,000
Rent Expense 16,500 16,500 16,500
Climbing Supplies Expense 8,400 2,900 11,300 11,300
Repairs Expense 4,800 4,800 4,800
Depreciation Expense: Climbing Eq 13,200 1,200 14,400 14,400
Salaries Expense 57,200 3,100 60,300 60,300
Interest Expense 150 75 225 225
Income Taxes Expense 12,750 1,250 14,000 14,000

166,025 201,000
Net Income 34,975

328,000 328,000 25,625 25,625 340,025 340,025 201,000 201,000 174,000 174,000