Wedding R Us

Trial Balance
For the Month Ended May 31, 2020

No. Account Title Debit Credit

110 Cash 22,200.00
120 Accounts Receivable 12,000.00
130 Supplies 18,000.00
140 Prepaid Rent 8,000.00
150 Prepaid Insurance 14,400.00
160 Service Vehicle 420,000.00
170 Office Equipment 60,000.00
210 Notes Payable 210,000.00
220 Accounts Payable 53,000.00
240 Utilities Payable 1,400.00
260 Unearned Referral Revenues 10,000.00
310 Besario, Capital 250,000.00
320 Besario, Withdrawal 14,000.00
410 Consulting Revenues 62,400.00
510 Salaries Expenses 13,800.00
550 Utilities Expense 4,400.00
586,800.00 586,800.00
-
 Date Particulars Debit Credit
31-May-22 Rent Expense 4,000.00
Prepaid Rent 4,000.00

31-May-22 Insurance Expense 1,200.00

Prepaid Insurance 1,200.00

31-May-22 Supplies Expense 3,000.00

Supplies 3,000.00

31-May-22 Depreciation 4,000.00

Accumulated Depreciation-Serv. Vehicle 4,000.00

31-May-22 Depreciation 1,000.00

Accumulated Depreciation-Off. Equipt 1,000.00

31-May-22 Unearned Referral Revenues 4,000.00

Referral Revenues 4,000.00

31-May-22 Salaries Expense 1,800.00

Salaries Payable 1,800.00

31-May-22 Interest Expense 3,500.00

Interest Payable 3,500.00

31-May-22 Accounts Receivable 5,300.00

Consulting Revenues 5,300.00
 Wedd
Wor
For the Month E

Trial Balance
No. Account Title
Debit Credit
110 Cash 22,200.00
120 Accounts Receivable 12,000.00
130 Supplies 18,000.00
140 Prepaid Rent 8,000.00
150 Prepaid Insurance 14,400.00
160 Service Vehicle 420,000.00
165 Accu. Depn. - Service Vehicle
170 Office Equipment 60,000.00
175 Accu. Depn. - Office Equipment
210 Notes Payable 210,000.00
220 Accounts Payable 53,000.00
230 Salaries Payable
240 Utilities Payable 1,400.00
250 Interest Payable
260 Unearned Referral Revenues 10,000.00
310 Besario, Capital 250,000.00
320 Besario, Withdrawal 14,000.00
330 Income Summary
410 Consulting Revenues 62,400.00
420 Referral Revenues
510 Salaries Expenses 13,800.00
520 Supplies Expense
530 Rent Expense
540 Insurance Expense
550 Utilities Expense 4,400.00
560 Depreciation Expense
570 Miscellaneous Expense
580 Interest Expense
586,800.00 586,800.00
Profit -

Wedding R us
Income Statement
For the Month Ended May 31, 2022

Revenue
Consulting Revenues 67,700.00
Referral Revenues 4,000.00
 Total Revenue 71,700.00

Expenses
Salaries Expenses 15,600.00
Supplies Expense 3,000.00
Rent Expense 4,000.00
Insurance Expense 1,200.00
Utilities Expense 4,400.00
Depreciation Expense 5,000.00
Miscellaneous Expense -
Interest Expense 3,500.00
Total Expenses 36,700.00
Profit 35,000.00

Wedding R us
Statement of Changes in Equity
For the Month Ended May 31, 2022

Besario, Capital 1 May 2022 250,000.00

Add: Additional Investment -
Profit 35,000.00 35,000.00
Total 285,000.00
Less: Besario, Withdrawal 14,000.00
Besario, Capital 31 May 2022 271,000.00

Report Format
Wedding R us
Balance Sheet
As of May 31, 2022

Current Assets
Cash 22,200.00
Accounts Receivable 17,300.00
Supplies 15,000.00
Prepaid Rent 4,000.00
Prepaid Insurance 13,200.00
Total Current Assets
Non Current Assets
Service Vehicle 420,000.00
Accu. Depn. - Service Vehicle - 4,000.00 416,000.00
Office Equipment 60,000.00
Accu. Depn. - Office Equipment - 1,000.00 59,000.00
Total Non Current Assets
Total Assets

Current Liabilities
 Notes Payable 210,000.00
Accounts Payable 53,000.00
Salaries Payable 1,800.00
Utilities Payable 1,400.00
Interest Payable 3,500.00
Unearned Referral Revenues 6,000.00
Total Liabilities

Equity
Besario, Capital 31 May 2022

Total Liabilities and Equity

Account Format
Wedding R us
Balance Sheet
As of May 31, 2022

Current Assets
Cash 22,200.00
Accounts Receivable 17,300.00
Supplies 15,000.00
Prepaid Rent 4,000.00
Prepaid Insurance 13,200.00
Total Current Assets
Non Current Assets
Service Vehicle 420,000.00
Accu. Depn. - Service Vehicle - 4,000.00 416,000.00
Office Equipment 60,000.00
Accu. Depn. - Office Equipment - 1,000.00 59,000.00
Total Non Current Assets
Total Assets
 Wedding R Us
Worksheet
For the Month Ended May 31, 2020

Adjustments Adjusted Trial Balance Income Statement

Debit Credit Debit Credit Debit
22,200.00
5,300.00 17,300.00
3,000.00 15,000.00
4,000.00 4,000.00
1,200.00 13,200.00
420,000.00
4,000.00 4,000.00
60,000.00
1,000.00 1,000.00
210,000.00
53,000.00
1,800.00 1,800.00
1,400.00
3,500.00 3,500.00
4,000.00 6,000.00
250,000.00
14,000.00

5,300.00 67,700.00
4,000.00 4,000.00
1,800.00 15,600.00 15,600.00
3,000.00 3,000.00 3,000.00
4,000.00 4,000.00 4,000.00
1,200.00 1,200.00 1,200.00
4,400.00 4,400.00
5,000.00 5,000.00 5,000.00
-
3,500.00 3,500.00 3,500.00
27,800.00 27,800.00 602,400.00 602,400.00 36,700.00
35,000.00
71,700.00
 71,700.00

Book Value

Book Value
475,000.00
546,700.00
275,700.00

271,000.00

546,700.00

Current Liabilities
Notes Payable 210,000.00
Accounts Payable 53,000.00
Salaries Payable 1,800.00
Utilities Payable 1,400.00
Interest Payable 3,500.00
71,700.00 Unearned Referral Rev 6,000.00
Total Liabilities

Equity
Besario, Capital 31 May 2022

475,000.00 Total Liabilities and Equity

546,700.00
Income Statement Balance Sheet
Credit Debit Credit
22,200.00 Real Accounts
17,300.00 Assets
15,000.00 Liabilities
4,000.00 Equity
13,200.00 Balance Sheet
420,000.00
4,000.00 If we have a profit, the total profit must be put on the Credit
60,000.00 Profit = Credit
1,000.00
210,000.00 If we have a loss, the total loss must be put on the Debit
53,000.00 Loss = Debit
1,800.00
1,400.00
3,500.00
6,000.00
250,000.00
14,000.00

67,700.00 Nominal Accounts

4,000.00 Income
Expense
Income Statement

If the total Credit is greater than the Debits = Profit

71,700.00 565,700.00 530,700.00 Credits = Income > Debits = Expense
35,000.00 Profit = Debit
71,700.00 565,700.00 565,700.00 If the total Credit is lesser than the Debits = Loss
Credits = Income < Debits = Expense
Loss = Credit
275,700.00

271,000.00

546,700.00
e put on the Credit

ut on the Debit