FIGURE-EIGHT COMPANY

Worksheet
For the Year Ended December 31, 2019

Trial Balance Adjustments Adj Trial Balance

Debit Credit Debit Credit Debit Credit
Cash 8,500 8,500
Accounts Receivable 16,500 16,500
Allowance for bad debts 1,500 i 1,100 2,600
Prepaid Insurance 3,000 c. 2,000 1,000
Supplies 1,950 d. 1,500 450
Land 70,000 70,000
Building 500,500 500,500
Accumulated Depreciation-Building 141,700 e 1,620 143,320
Equipment 272,400 272,400
Accumulated Depreciation-Equipment 50,800 f 3,160 53,960
Accounts payable 24,100 24,100
Salaries and Wages payable g 2,000 2,000
Utilities payable h 4,000 4,000
Interest payable a. 1,200 1,200
Unearned Rent 13,700 b. 13,200 500
Tina Santos, Capital 357,700 357,700
Tina Santos, Drawing 4,000 4,000
Printing Revenues 403,500 403,500
Rent Revenue b, 13,200 13,200
Salaries and Wages Expense 60,200 g 2,000 62,200
Advertising Expense 18,500 18,500
Utilities Expense 15,100 h 4,000 19,100
Repairs Expense 19300 19,300
Insurance expense c. 2,000 2,000
Supplies expense d. 1,500 1,500
Depreciation expense-bldg e 1,620 1,620
Depreciation expense-equipment f 3,160 3,160
Bad debt expense i 1,100 1,100
Miscellaneous expense 3,050 3,050
Interest expense a, 1,200 1,200
Total 993,000 993000 29,780 29,780 1,006,080 ###
Profit

FIGURE-EIGHT COMPANY FIGURE-EIGHT COMPANY

 Income Statement Balance Sheet
For the Year Ended December 31, 2019
Assets
Revenues: Current Assets
Printing Revenues 403,500 Cash
Rent Revenue 13,200 Accounts Receivable
Total Revenues 416,700 Allowance for bad debts
Less Expenses: Prepaid Insurance
Salaries and Wages Expense 62,200 Supplies
Advertising Expense 18500 Total Current Assets
Utilities Expense 19,100
Repairs Expense 19,300 Non-Current Assets
Insurance expense 2,000 Land
Supplies expense 1,500 Building
Depreciation expense-bldg 1,620 Accumulated Depreciation-Bldg
Depreciation expense-equipment 3,160 Equipment
Bad debt expense 1,100 Accumulated Depreciation-Equip
Miscellaneous expense 3,050 Total Non-current Assets
Interest expense 1,200 Total Assets
Total expenses 132,730
Profit 283,970 Liabilities
Current Liabilities
FIGURE-EIGHT COMPANY Accounts payable
Statement of Changes in Equity Salaries and Wages payable
For the Year Ended December 31, 2019 Utilities payable
Interest payable
Tina Santos Capital, Jan 1 357,700 Unearned Rent
Add Profit 283,970 Total Current Liabilities
Total 641,670
Less Drawing 4,000 Owner's Equity
Tina Santos Capital, Dec. 31 637,670 Tina Santos Capital
Total Liabilities and Owner's Equity
Worksheet adjustments 9 pts
Adj trial balance total 1 pt
Worksheet Income statement 3 pts
worksheet balance sheet 3 pts
Income statement 5 pts
SOCE 5 pts
Balance sheet 5 pts
Total points 31 pts
 Income Statemen Balance Sheet
Debit Credit Debit Credit
8,500
16,500
2,600
1,000
450
70,000
500,500
143,320
272,400
53,960
24,100
2,000
4,000
1,200
500
357,700
4,000
403,500
13,200
62,200
18500
19,100
19,300
2,000
1,500
1,620
3,160
1,100
3,050
1,200
132,730 416,700 873,350 589,380
283,970 283,970
416,700 416,700 873,350 873,350

E-EIGHT COMPANY
 alance Sheet

8,500
eceivable 16,500
for bad debts 2,600 13,900
1,000
450
urrent Assets 23,850

70,000
500,500
ed Depreciation-Bldg 143,320 357,180
272,400
ed Depreciation-Equip 53,960 218,440
Non-current Assets 645,620
669,470

24,100
d Wages payable 2,000
4,000
1,200
500
Current Liabilities 31,800

637,670
es and Owner's Equity 669,470