Sl.

Particulars Trial Balance Adjustment Adjustment Trial

No Balance
. Dr. ($) Cr. ($) Dr. ($) Cr. ($) Dr. ($) Cr. ($)
1. Cash 8,250 8,250

2. Supplies 1,000 350 650

3. Equipment 18,000 18,000

4. Unearned 2,000 2,000

Revenue
5. Note 9,000 9,000
Payable
6. Capital 15,000 15,000

7. Service 5,000 3,500 8,500

Revenue
8. Advertising 250 250
Expense
9. Wages 2,000 2,000
Expense
10. Dividends 1,500 1,500

11. Accounts 1,500 1,500

Receivable
12. Supplies 350 350
Expenses
13. Interest 45 45
Expenses
14. Interest 45 45
Payable
15. Depreciation 600 600
Expenses
16. Accumulate 600 600
d
Depreciation
($)31,00 ($)31,00 ($)4,49 ($)4,49 ($)33,14 ($)33,14
0 0 5 5 5 5
 Journal
Date Particulars Ref. Dr. ($) Cr. ($)
1. Unearned Revenue- Dr. 2,000
Service Revenue- Cr. 2,000
2. Accounts Receivable – Dr. 1,500
Service Revenue ---Cr. 1,500
3. Supplies expenses – Dr. 350
Supplies--- Cr. 350
{($1000- $650) = $350}
4. Interest expenses---Dr. 45
Interest payable---Cr. 45
{(19000 x 6% x ½) = 45}
5. Depreciation Expense--Dr. 600
Accumulated depreciation--Cr. 600

Income Statement
Particulars Amount Amount
Service Revenue $ 8,500
Expenses:

Advertising Expenses $ 250

Depreciation Expenses $ 600
Interest Expenses $ 45
Salaries Expenses $ 2,000
Supply Expenses $ 350
Total Expenses $ 3,245
Net Income $ 5,255

Owner’s Equity Statement

Particulars Amount Amount
Opening Capital
Additional during the period $ 15,000
Net profit during the period $ 5,255

Capital at the end period $ 20,255

 Balance Sheet
Particulars Amount Amount
Assets:
Non-Current Assets:
Equipment $ 18,000
Less: Accumulated Depreciation ($ 600)
Total Non-Current Assets = $ 17,400
Current Assets:
Cash $ 250
Account Receivable $ 1,500
Supplies $ 650
Total Current Assets = $ 10,400

Total Assets = $ 27,800

Liabilities and Capital:

Current Liabilities:
Interest Payable $ 45
Notes Payable $ 9,000
Total current Liabilities = $ 9,045
Shareholder’s Equity:
Capital $ 15,000
Retained Earnings $ 3,755
Total Shareholder’s Equity = $ 18,755
Total Liability & Equity = $ 27,800