Zachary Company

Worksheet
Dec. 31, 2019

Unadjusted Trial Bal. Adjustment Adjusted Trial Bal. Income Statement

Account Titles
Dr Cr Dr Cr Dr Cr Dr
Cash
Notes Receivable
Accounts Receivable
Office Supplies
Prepaid Insurance
Land
Store Equipment
Accumulated Dep. –
Store Equipment
Office Equipment
Accumulated Dep. –
Office Equipment
Accounts Payable
Unearned Rent Income
Notes Payable
ZDSS, Capital
ZDSS, Drawing
Sales Revenue
Interest Income
Advertising Expense
Miscellaneous Expense
Salaries Expense
Rent Expense
Interest Expense

Zachary Company
Income Statement
For the month ended Decmber 31,2019
Revenue Assets
Service Revenue 60,790 Current Asset
Interest Income 3,800 Cash
Rent Income 600 Notes Receivable
Total 65,190 Accounts Receivable
Less: Allowance for Ba
Expenses Office Supplies
Advertising Expense 10,860 Prepaid Insurance
Miscellaneous Expense 630 Interest Receivable
Salaries Expense 21,800 Total Current Assets
Rent Expense 8,100 Non Current Assets
Interest Expense 2,440 Land
Office Supplies Expense 610 Store Equipment
 Insurance Expense 1,910 Less: Accumulated De
Depr. Expense-Store Equipment 3,100 Office Equipment
Depr. Expense-Office Equipment 2,490 Less: Accumulated De
Bad Debt Expense 2,000 Total Non Current Asset
Total 53,940 TOTAL ASSETS
Net Income 11,250 Liabilitie
Current Liabilities
Zachary Company Accounts Payable
Statement of Owner's Equity Unearned Rent Incom
For the year end December 31, 2019 Notes Payable
Zachary Company, Owner's Equity 12/01/19 153,800 Salaries Payable
Add: Additional Investments by Zachary Company P-0- Total Current Liabilities
Net Income 11,250 Owner's Eq
Total 165,050 Zachary Company, 12
Less: Withdrawals 18,000 Total Liabilities & Owner's E
Zachary Company, Owner's Equity 12/31/19 147,050

Zachary
 JM Computer Shop
T-Accounts
As of 2019

Cash
01/1 300,00001/3 100,000 Service Revenue
04/5 8,00003/4 2,000 04/5 8,000
07/11 15,00003/31 2,000 07/11 15,000
05/7 2,000 11/21 30,000
06/10 1,000 53,000
08/15 5,000
10/23 10,000 Accounts Receivable
323,000 122,000 11/21 30,000
 201,000 30,000

Office Supplies Internet Expenses

02/3 2,000 03/4 2,000
2,000 2,000

JM, Capital Electricity Expense

01/1 300,000 06/10 1,000
300,000 1,000

JM, Drawings
12/23 10,000
10,000

JM Computer Shop
Worksheet
Dec. 31, 2019
Unadjusted Trial Bal. Adjustment Adjusted Trial Bal. Income Statement
No. Account Titles
Dr Cr Dr Cr Dr Cr Dr
110
Cash 201,000 201,000
120 Accounts
Receivable 30,000 30,000
121 Allowance for Bad
Debts 500 500
130 Office
Supplies 2,000 1,000 1,000
140 Computer
Equipment 100,000 100,000

141 Accumulated Depr.-

Computer Equipment 20,000 20,000
210 Accounts
- - - -
Payable
220 Salaries
Payable 2,000 2,000
310 JM,
Capital 300,000 300,000
320 JM, Drawing
10,000 10,000
410 Service
Revenue 53,000 53,000
510 Internet
Expense 2,000 2,000 2,000
520 Salaries
Expense 5,000 2,000 7,000 7,000
530 Electricity
Expense 1,000 1,000 1,000
540 Supplies
Expense 1,000 1,000 1,000
550 Rent
Expense 2,000 2,000 2,000
560 Depr. Expense-
Computer Equipment 20,000 20,000 20,000
570 Bad Debts Expense 500 500 500
Income Summary
353,000 353,000 23,500 23,500 375,000 375,000 33,500
Net Income 19,500
53,000

JM Computer Shop
Income Statement
For the month ended December 31, 2018
Revenue Assets
Service Revenue 53,000 Current Assets
Total 53,000 Cash
Accounts Receivable
Expenses Less: Allowance for B
Internet Expense 2,000 Office Supplies
Salaries Expense 7,000 Total Current Assets
Electricity Expense 1,000
Supplies Expense 1,000 Non Currents Assets
Rent Expense 2,000 Computer Equipment
Depr. Expense-Computer Equipment 20,000 Less: Accumulated De
Bad Debts Expense 500 Total Non Current Asset
Total 33,500 TOTAL ASSETS
Net Income 19,500
Liabilitie
JM Computer Shop Current Liabilities
Statement of Owner's Equity Accounts Payable
For the year end December 31, 2018 Salaries Payable
JM Computer Shop, Owner's Equity 12/31/18 300,000 Total Current Liabilities
Add: Additional Investment by JM Computer Shop P-0-
Net Income 19,500 Owner's Eq
Total 319,500 JM Computer Shop,
Less: Withdrawals 10,000 Total Liabilities & Owner
JM Computer Shop, Owner's Equity 12/31/18 309,500
pany
t
19

Income Statement Balance Sheet Closing Entries Posting Trial Bal.

Cr Dr Cr Dr Cr Dr Cr

Zachary Company
Balance Sheet
Dec. 31, 2019
Assets
ent Asset
Cash 52,950
Notes Receivable 35,000
Accounts Receivable 55,800
Less: Allowance for Bad Debts 2,000
Office Supplies 480
Prepaid Insurance 2,650
Interest Receivable 200
al Current Assets 145,160
Current Assets
Land 20,000
Store Equipment 27,100
 Less: Accumulated Depr.-Store Equipment 5,700 21,400
Office Equipment 15,570
Less: Accumulated Depr.-Office Equipment 4,720 10,850
al Non Current Asset 52,250
AL ASSETS 197,410
Liabilities
ent Liabilities
Accounts Payable 22,420
Unearned Rent Income 1,800
Notes Payable 25,000
Salaries Payable 1,140
al Current Liabilities 50,360
Owner's Equity
Zachary Company, 12/31/19 147,050
l Liabilities & Owner's Equity 197,410
Shop
s
9

Computer Equipment
01/3 100,000
100,000

Accounts Payable
03/31 2,000 02/3 2,000
-
 Rent Expenses
05/7 2,000
2,000

Salaries Expense
05/7 2,000
2,000

Shop
t
19
Income Statement Balance Sheet Closing Entries Posting Trial Bal.
Cr Dr Cr Dr Cr Dr Cr

201,000 201,000

30,000 30,000

500 500

1,000 1,000

100,000 100,000

20,000 20,000
- -

2,000 2,000

300,000 19,500 309,500

10,000

53,000 53,000

2,000
 7,000

1,000

1,000

2,000

20,000
500
19,500 19,500
53,000 342,000 322,500
19,500
53,000 342,000 342,000 72,500 72,500 332,000 332,000

JM Computer Shop
Balance Sheet
As of December 31, 2018
Assets
nt Assets
Cash 210,000
Accounts Receivable 30,000
Less: Allowance for Bad Debts 500
Office Supplies 1,000
tal Current Assets 231,500

Currents Assets
Computer Equipment 100,000
Less: Accumulated Depr.-Computer Equipment 20,000
otal Non Current Asset 80,000
AL ASSETS 311,500

Liabilities
rent Liabilities
Accounts Payable -
Salaries Payable 2,000
otal Current Liabilities 2,000

Owner's Equity
JM Computer Shop, 12/31/18 309,500
otal Liabilities & Owner's Equity 311,500