| AAA Services | ||||||||||
| Worksheet | ||||||||||
| for the year end 30 Jun 2018 | ||||||||||
| Trial Balance | Adjusting Entries | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||
| Accounts Name | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit |
| Cash | 40860 | 40860 | 40860 | |||||||
| Accounts Receivable | 11800 | 11800 | 11800 | |||||||
| Office Supplies | 45600 | 36960 | 8640 | 8640 | ||||||
| Prepaid Rent | 72000 | 24000 | 48000 | 48000 | ||||||
| Equipment | 160000 | 160000 | 160000 | |||||||
| Accum. Depreciation – Equipment | 13200 | 13200 | 13200 | |||||||
| Accounts Payable | 10400 | 10400 | 10400 | |||||||
| Notes Payable | 40000 | 40000 | 40000 | |||||||
| Utilities Payable | 7928 | 7928 | 7928 | |||||||
| Interest Payable | 300 | 300 | 300 | |||||||
| Unearned Revenue | 8000 | 3000 | 5000 | 5000 | ||||||
| Common Stock | 200000 | 200000 | 200000 | |||||||
| Service Revenue | 165200 | 3000 | 168200 | 168200 | ||||||
| Wages Expense | 76400 | 76400 | 76400 | |||||||
| Miscellaneous Expense | 6940 | 6940 | 6940 | |||||||
| Electricity Expense | 4940 | 4940 | 4940 | |||||||
| Telephone Expense | 2988 | 2988 | 2988 | |||||||
| Supplies Expense | 36960 | 36960 | 36960 | |||||||
| Rent Expense | 24000 | 24000 | 24000 | |||||||
| Depreciation Expense | 13200 | 13200 | 13200 | |||||||
| Interest Expense | 300 | 300 | 300 | |||||||
| Dividend | 10000 | 10000 | 10000 | |||||||
| Total | 431528 | 431528 | 77460 | 77460 | 445028 | 445028 | 165728 | 168200 | 279300 | 276828 |
| Profit for the month | 2472 | 2472 | ||||||||
| 77460 | 77460 | 445028 | 445028 | 168200 | 168200 | 279300 | 279300 | |||
| AAA Services | ||||||||||
| Journal Entries | ||||||||||
| Date | Particulars | Debit | Credit | |||||||
| 30-06-2018 | Supplies Expense | 36960 | ||||||||
| Office Supplies | 36960 | |||||||||
| 30-06-2018 | Rent Expense | 24000 | ||||||||
| Prepaid Rent | 24000 | |||||||||
| 30-06-2018 | Depreciation Expense | 13200 | ||||||||
| Accumulated Depreciation – Equipment | 13200 | |||||||||
| 30-06-2018 | Interest Expense | 300 | ||||||||
| Interest Payable | 300 | |||||||||
| 30-06-2018 | Unearned Revenue | 3000 | ||||||||
| Service Revenue | 3000 | |||||||||
| AAA Services | ||||||||||
| Income Statement | ||||||||||
| for the year ended June 30,2018 | ||||||||||
| Particulars | Amount | |||||||||
| Service Revenue | 1,68,200 | |||||||||
| TOTAL REVENUE | 1,68,200 | |||||||||
| Wages Expense | -76,400 | |||||||||
| Miscellaneous Expense | -6,940 | |||||||||
| Electricity Expense | -4,940 | |||||||||
| Telephone Expense | -2,988 | |||||||||
| Supplies Expense | -36,960 | |||||||||
| Rent Expense | -24,000 | |||||||||
| Depreciation Expense | -13,200 | |||||||||
| TOTAL OPERATING EXPENSES | -1,65,428 | |||||||||
| NET OPERATING PROFIT | 2,772 | |||||||||
| Interest Expense | -300 | |||||||||
| NET PROFIT FOR THE PERIOD | 2,472 | |||||||||
| AAA Service | ||||||||||
| Statement of Change in Equity | ||||||||||
| for the period ended June 30,2018 | ||||||||||
| Particulars | Common Stock | Retained Earnings | TOTAL | |||||||
| Balance as on 1 July 2017 | 2,00,000 | 0 | 2,00,000 | |||||||
| Add: Net Profit for the period | 2,472 | 2,472 | ||||||||
| Less: Dividends | -10,000 | -10,000 | ||||||||
| Balance as on 30 June 2018 | 2,00,000 | -7,528 | 1,92,472 | |||||||
| AAA Services | ||||||||||
| Balance Sheet | ||||||||||
| as on June 30,2018 | ||||||||||
| Particulars | Amount | |||||||||
| Current Assets: | ||||||||||
| Cash | 40,860 | |||||||||
| Accounts Receivable | 11,800 | |||||||||
| Office Supplies | 8,640 | |||||||||
| Prepaid Rent | 48,000 | |||||||||
| TOTAL CURRENT ASSETS | 1,09,300 | |||||||||
| Non-Current Assets: | ||||||||||
| Equipment | 1,60,000 | |||||||||
| Accum. Depreciation – Equipment | -13,200 | |||||||||
| TOTAL NON-CURRENT ASSETS | 1,46,800 | |||||||||
| TOTAL ASSETS | 2,56,100 | |||||||||
| Current Liabilities: | ||||||||||
| Accounts Payable | 10,400 | |||||||||
| Utilities Payable | 7,928 | |||||||||
| Unearned Revenue | 5,000 | |||||||||
| Interest Payable | 300 | |||||||||
| TOTAL CURRENT LIABILITIES | 23,628 | |||||||||
| Non-Current Liabilities: | ||||||||||
| Notes Payable | 40,000 | |||||||||
| TOTAL NON-CURRENT LIABILITIES | 40,000 | |||||||||
| TOTAL LIABILITIES | 63,628 | |||||||||
| Equity: | ||||||||||
| Capital | 2,00,000 | |||||||||
| Retained Earnings | -7,528 | |||||||||
| TOTAL EQUITY | 1,92,472 | |||||||||
| TOTAL LIABILITIES & EQUITY | 2,56,100 |
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