How would I do the income statement? Unadjusted Trial Balance December 31, 2018
ID: 2340541 • Letter: H
Question
How would I do the income statement?
Unadjusted Trial Balance December 31, 2018 Trial Balance Adjusted Trial Balance Income Statement Balance Sheet 17 Debit Cradit Debit Credit Cradit 4,900 4,000 2,7 $ 700 1,200 1,300 S 4,300 s receivable upplies Prepaid insurance 2,400 S 400 $ 21 2,200 74.400 ulated depreciation S 18,800$ 6 27,300 13,600 13,600 s payable tpayable 19,500 8,800 1,300 19,500 8,800 alary payable tilities Payable Uncarned Revenue Elias, capital Elias, drawing 7,0007 30,800 7,700 27,900 32,400 4,200 27,900 93,100 3 ary expense 33,700 epreciation expense 8,500 Insurance expense ties expense upplies expense 4,600 4,150 8,900 6,500 Net Income Total 179,300 179,300 14,650 189,850 189,850Explanation / Answer
Answer
>The accounts should not be of Asset, Liability or Equity nature.
>Only Revenue and expenses accounts are to be considered.
>Revenue accounts are shown on Credit side
>Expenses accounts are shown on Debit Side.
>Difference between Debit and Credit side will be Net Income or Net Loss
Accounts title
Unadjusted
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 4,900.00
$ 700.00
$ 1,300.00
$ 4,300.00
$ 4,300.00
Accounts receivables
$ 4,000.00
$ 1,200.00
$ 5,200.00
$ 5,200.00
Supplies
$ 5,200.00
$ 2,400.00
$ 2,800.00
$ 2,800.00
Prepaid Insurance
$ 2,200.00
$ 400.00
$ 1,800.00
$ 1,800.00
Building
$ 74,400.00
$ 74,400.00
$ 74,400.00
Accumulated Depreciation
$ 18,800.00
$ 8,500.00
$ 27,300.00
$ 27,300.00
land
$ 13,600.00
$ 13,600.00
$ 13,600.00
Accounts Payable
$ 19,500.00
$ 19,500.00
$ 19,500.00
Interest payable
$ 8,800.00
$ 8,800.00
$ 8,800.00
Salary payable
$ 1,300.00
$ 1,300.00
$ 1,300.00
Utilities Payable
$ -
$ 150.00
$ 150.00
$ 150.00
Unearned Revenue
$ 7,000.00
$ 700.00
$ 7,700.00
$ 7,700.00
Elias Capital
$ 30,800.00
$ 30,800.00
$ 30,800.00
Elias Drawings
$ 27,900.00
$ 27,900.00
$ 27,900.00
Service revenue
$ 93,100.00
$ 1,200.00
$ 94,300.00
$ 94,300.00
Salary expenses
$ 32,400.00
$ 1,300.00
$ 33,700.00
$ 33,700.00
Depreciation expense
$ -
$ 8,500.00
$ 8,500.00
$ 8,500.00
Insurance expense
$ 4,200.00
$ 400.00
$ 4,600.00
$ 4,600.00
Utilities expense
$ 4,000.00
$ 150.00
$ 4,150.00
$ 4,150.00
Supplies expense
$ 6,500.00
$ 2,400.00
$ 8,900.00
$ 8,900.00
$ 34,450.00 [Net Income]
$ 34,450.00 [Net Income]
TOTAL
$ 179,300.00
$ 179,300.00
$ 14,650.00
$ 14,650.00
$ 189,850.00
$ 189,850.00
$ 94,300.00
$ 94,300.00
$ 130,000.00
$ 130,000.00
Accounts title
Unadjusted
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 4,900.00
$ 700.00
$ 1,300.00
$ 4,300.00
$ 4,300.00
Accounts receivables
$ 4,000.00
$ 1,200.00
$ 5,200.00
$ 5,200.00
Supplies
$ 5,200.00
$ 2,400.00
$ 2,800.00
$ 2,800.00
Prepaid Insurance
$ 2,200.00
$ 400.00
$ 1,800.00
$ 1,800.00
Building
$ 74,400.00
$ 74,400.00
$ 74,400.00
Accumulated Depreciation
$ 18,800.00
$ 8,500.00
$ 27,300.00
$ 27,300.00
land
$ 13,600.00
$ 13,600.00
$ 13,600.00
Accounts Payable
$ 19,500.00
$ 19,500.00
$ 19,500.00
Interest payable
$ 8,800.00
$ 8,800.00
$ 8,800.00
Salary payable
$ 1,300.00
$ 1,300.00
$ 1,300.00
Utilities Payable
$ -
$ 150.00
$ 150.00
$ 150.00
Unearned Revenue
$ 7,000.00
$ 700.00
$ 7,700.00
$ 7,700.00
Elias Capital
$ 30,800.00
$ 30,800.00
$ 30,800.00
Elias Drawings
$ 27,900.00
$ 27,900.00
$ 27,900.00
Service revenue
$ 93,100.00
$ 1,200.00
$ 94,300.00
$ 94,300.00
Salary expenses
$ 32,400.00
$ 1,300.00
$ 33,700.00
$ 33,700.00
Depreciation expense
$ -
$ 8,500.00
$ 8,500.00
$ 8,500.00
Insurance expense
$ 4,200.00
$ 400.00
$ 4,600.00
$ 4,600.00
Utilities expense
$ 4,000.00
$ 150.00
$ 4,150.00
$ 4,150.00
Supplies expense
$ 6,500.00
$ 2,400.00
$ 8,900.00
$ 8,900.00
$ 34,450.00 [Net Income]
$ 34,450.00 [Net Income]
TOTAL
$ 179,300.00
$ 179,300.00
$ 14,650.00
$ 14,650.00
$ 189,850.00
$ 189,850.00
$ 94,300.00
$ 94,300.00
$ 130,000.00
$ 130,000.00
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