Income Statement

Service Revenue
Expenses:
Costs of Goods Sold
Salaries
Delivery
Total Expenses
Net Income

$75,200
49,200
3,500
3,200
55,900
19,300
Statement of Stockholders Equity
Stockholders Equity

Beginning Balance $
Issuance
Add: Net Income
Less: Dividends
Ending Balance

Common Stock

Retained Earnings

15,500
3,500
0
0
19,000

35,000
0
19,300
(2,000)
52,300

50,500
3,500
19,300
(2,000)
71,300
Balance Sheet

Assets
Current Assets:
Cash
$6,500
Accounts Receivable 3,900
Supplies
3,500
Equipment, net
67,820
Office Fixtures
7,500

Liabilities
Current Liabilities:
Accounts Payable
Interest Payable
Salaries Payable
Notes Payable
Other Liabilities

$1,500
700
400
15,000
320

Total Liabilities
.

Total Assets
Date
3/1
3/3

$89,220

$17,920

Common Stock
Retained Earnings
Total stockholders Equity
Total Liabilities & equity

General Journal
Cash
Common Stock
Equipment

Debit
2,000

Credit
2,000

1,700

19,000
52,300
71,300
$89,220

3/5
3/7
3/12
3/15
3/19
3/25
3/30
3/31

Notes Payable
Rent Expense
Cash
No Journal Entry Required
No Journal Entry Required
Supplies
Accounts Payable
Cash
Service Revenue
Cash
Unearned Revenue
Unearned Revenue
Service Revenue
Utilities Expense
Cash
Dividends
Cash

1,700
500
500
0
0
120
120
700
700
600
600
600
600
85
85
100
100

Trial Balance
Accounts
Cash
Accounts Receivable
Supplies
Equipment
Office Fixtures
Accounts Payable
Interest Payable
Salaries Payable
Notes Payable
Other Liabilities
Common Stock
Retained earnings
Dividends
Service Revenue
Cost of goods sold
Salaries Expense
Delivery Expense
Rent Expense
Utilities Expense
Totals

Debit
$9,115
3,900
3,620
69,520
7,500

Credit

$1,620
700
400
16,700
320
21,000
35,000
2,100
76,500
49,200
3,500
3,200
500
85
$152,240

$152,240