TRIAL BALANCE

JM Accounting Service
Trial Balance
Dember 31,2011

ACCOUNT NAME
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Prepaid Insurance
Prepaid Rent
Office Supplies
Office Furniture and Equipment
Accumulated Depreciation, Office Furniture and Equipment
Automobile
Accumulated Depreciation, Automobile
Office Salaries Payable
Accounts Payable
Unearned Accounting Fees Revenue
Jon Miller, Capital
Jon Miller, Withdrawal
Accounting Fees Revenue
Interest Revenue
Office Salaries Expense
Advertising Expense
Insurance Expense
Rent Expense
Office Maintenance Expense
Office Supplies Expense
Telephone Expense
Utilities Expense
Depreciation Expense- Office Furniture and Equipment
Depreciation Expense- Automobile
Interest Expense

TOTALS
CE

Debit Credit
11265
11795
765
3100
9000
655
16900
4225
13800
3450

3465
10750
26500
17650
148950
3365
70975
6765
5825
13500
1790
3570
5880
6665

2335

201470 201470
 GENERAL
Cash
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB

Allowance for Uncollectible Accounts

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB

Prepaid Rent
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 4500

Office Furniture and Equipment

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB

Automobile
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Office Salaries Payable
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 3000

Unearned Accounting Fees Revenue

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 2000
Dec.31 Adjustments GJ 6500

Jon Miller, Withdrawal

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB

Interest Revenue
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB

Advertising Expense
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Rent Expense
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 4500

Office Supplies Expense

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 445

Utilities Expense
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 840

Depreciation Expense- Automobile

Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 5100

Utilities Payable
Date Explanation Ref. Debit Credit
Dec.31 Unadjusted Balance TB
Dec.31 Adjustments GJ 840
GENERAL LEDGER
Accounts Receivable
Balance Date Explanation Ref. Debit
11265 Dec. 31 Unadjusted Balance TB

Prepaid Insurance
Balance Date Explanation Ref. Debit
765 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ

Office Supplies
Balance Date Explanation Ref. Debit
9000 Dec. 31 Unadjusted Balance TB
4500 Dec. 31 Adjustments GJ

Accumulated Depreciation, Office Furniture and Equipment

Balance Date Explanation Ref. Debit
16900 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ

Accumulated Depreciation, Automobile

Balance Date Explanation Ref. Debit
13800 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ
 Accounts Payable
Balance Date Explanation Ref. Debit
0 Dec. 31 Unadjusted Balance TB
3000

Jon Miller, Capital

Balance Date Explanation Ref. Debit
10750 Dec. 31 Unadjusted Balance TB
8750
15250

Accounting Fees Revenue

Balance Date Explanation Ref. Debit
17650 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ
Adjustments GJ 6500

Office Salaries Expense

Balance Date Explanation Ref. Debit
3365 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ 3000

Insurance Expense
Balance Date Explanation Ref. Debit
6765 Dec. 31 Unadjusted Balance TB
Dec. 31 Adjustments GJ 1155
 Office Maintenance Expense
Balance Date Explanation Ref. Debit
13500 Dec. 31 Unadjusted Balance TB
18000

Telephone Expense
Balance Date Explanation Ref. Debit
3570 Dec. 31 Unadjusted Balance TB
4015

Depreciation Expense- Office Furniture and Equipment

Balance Date Explanation Ref. Debit
6665 Dec. 31 Unadjusted Balance TB
7505 Dec. 31 Adjustments GJ 3125

Interest Expense
Balance Date Explanation Ref. Debit
0 Dec. 31 Unadjusted Balance TB
5100

Balance
0
840
 Credit Balance
11795

Credit Balance
3100
1155 1945

Credit Balance
655
445 210

ment
Credit Balance
4225
3125 7350

Credit Balance
3450
5100 8550
Credit Balance
3465

Credit Balance
26500

Credit Balance
148950
2000 150950
144450

Credit Balance
70975
73975

Credit Balance
5825
6980
Credit Balance
1790

Credit Balance
5880

Credit Balance
0
3125

Credit Balance
2335
 GENERAL JOURNAL
ACCOUNT TITLES PR Debit
a. Insurance Expense 1155
Prepaid Insurance

b. Office Supplies Expense 445

Office Supplies

c. Depreciation Expense- OF & E 3125

Depreciation Expense- Automobiles 5100
Accumulated Depreciation- OF & E
Accumulated Depreciation- Automobile

d. Rent Expense 4500

Prepaid Rent

e. Unearned Accounting Fees Revenue 2000

Accounting Fees Revenue

f. Accounting Fees Revenue 6500

Unearned Accounting Fees Revenue

g. Office Salaries Expense 3000

Office Salaries Payable

h. Utilities Expense 840

Utilities Payable
L
Credit

1155

445

3125
5100

4500

2000

6500

3000

840
 ADJUSTED TRIAL BALANCE

JM Accounting Service
Adjusted Trial Balance
December 31,2011

ACCOUNT NAME Debit

Cash 11265
Accounts Receivable 11795
Allowance for Uncollectible Accounts
Prepaid Insurance 1945
Prepaid Rent 4500
Office Supplies 210
Office Furniture and Equipment 16900
Accumulated Depreciation, Office Furniture and Equipment
Automobile 13800
Accumulated Depreciation, Automobile
Office Salaries Payable
Accounts Payable
Unearned Accounting Fees Revenue
Utilities Payable
Jon Miller, Capital
Jon Miller, Withdrawal 17650
Accounting Fees Revenue
Interest Revenue
Office Salaries Expense 73975
Advertising Expense 6765
Insurance Expense 6980
Rent Expense 18000
Office Maintenance Expense 1790
Office Supplies Expense 4015
Telephone Expense 5880
Utilities Expense 7505
Depreciation Expense- Office Furniture and Equipment 3125
Depreciation Expense- Automobile 5100
Interest Expense 2335

TOTALS 213535
NCE

Credit

765

7350

8550
3000
3465
15250
840
26500

144450
3365

213535
 INCOME STATEMENT

JM Accounting Service
Income Statement
For the year ended December 31,2011

Revenues
Service Revenue 144450
Interest Revenue 3365
Total Revenue 147815
Expenses
Office Salaries Expense 73975
Advertising Expense 6765
Insurance Expense 6980
Rent Expense 18000
Office Maintenance Expense 1790
Office Supplies Expense 4015
Telephone Expense 5880
Utilities Expense 7505
Depreciation Expense- OF & E 3125
Depreciation Expense- Automobile 5100
Total Expenses 133135
Gross Profit 14680
Finance Cost 2335
Net Income 12345
STATEMENT OF CHANGES IN OWNERS' EQUITY

JM Accounting Service
Statement of Changes in Owners' Equity
For the year ended December 31,2011

Jon Miller, Capital, Jan. 1 26500

Add: Net Income 12345
Total 38845
Less: Jon Miller, Withdrawals 17650
Jon Miller, Capital, Dec. 31 21195
 BALANCE SHEET

JM Accounting Service
Balance Sheet
December 31,2011

ASSETS
Current Assets
Cash 11265
Accounts Receivable 11795
Allowance for Uncollectible Accounts 765
Prepaid Insurance 1945
Prepaid Rent 4500
Office Supplies 210
Total Current Assets

Noncurrent Assets
Office Furniture and Equipment 16900
Accumulated Depreciation, Office Furniture and Equipment 7350
Automobile 13800
Accumulated Depreciation, Automobile 8550
Total Noncurrent Assets
Total Assets

LIABILITIES AND OWNER'S EQUITY

Liabilities
Office Salaries Payable 3000
Accounts Payable 3465
Unearned Accounting Fees Revenue 15250
Utilities Payable 840
Total Liabilities
Owner's Equity
Jon Miller, Capital 21195
Total Owner's Equity
Total Liabilities and Owner's Equity
ET

28950

14800
43750

22555

21195
43750