Lalala Express Delivery Service

Worksheet
For the quarter ended March 31, 2022

Statement of Financial
Trial Balance Adjustments Adjusted Trial Balance Income Statement Position
Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 154,000 154,000 154,000
Accounts Receivables 45,000 47,000 92,000 92,000
Supplies 42,000 25,000 17,000 17,000
Prepaid Insurance 72,000 18,000 54,000 54,000
Transportation Equipment 800,000 800,000 800,000
Other Equipment 450,000 450,000 450,000
Accumulated Depreciation -
Transportation Equipment 160,000 160,000 160,000
Accumulated Depreciation - Other
Equipment 150,000 150,000 150,000
Accounts Payable 145,000 8,900 153,900 153,900
Notes Payable 250,000 250,000 250,000
Owner's Equity 501,000 501,000 501,000
Rent Revenue 900,000 900,000
Advertising Expense 47,000 2,500 49,500 49,500
Salaries and Wages Expense 301,000 9,000 310,000 310,000
Utilities Expense 11,000 2,800 13,800 13,800
Depreciation Expense 130,000 130,000 130,000
Gas, Maintencance, and Repairs
Expense 54,000 3,600 57,600 57,600
TOTALS 2,106,000 2,106,000

Unearned Service Revenue 175,000 175,000 175,000

Service Revenue 175,000 947,000 772,000 772,000
Supplies Expense 25,000 25,000 25,000
Insurance Expense 18,000 18,000 18,000
Salaries and Wages Payable 9,000 9,000 9,000
Interest Expense 6,250 6,250 6,250
Interest Payable 6,250 6,250 6,250
TOTALS 1,189,150 1,189,150 2,177,150 2,177,150 610,150 772,000 1,567,000 1,405,150
NET INCOME 161,850 161,850
TOTALS 598,150 610,150 1,405,150 1,405,150