I neep help figuring out the income statement and balance sheet on the workeshee
ID: 2342080 • Letter: I
Question
I neep help figuring out the income statement and balance sheet on the workesheet.
A Byte of Accounting, Inc. Worksheet For Period Ending June 30, 2018 Account Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet Number Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 1110 Cash 83,283.48 - - - 83,283.48 - 1120 Accounts Receivable 1,239.00 - 5,500.00 - 6,739.00 - 1130 Prepaid Insurance 5,304.00 - - 221.00 5,083.00 - 1140 Prepaid Rent - 4,400.00 - 2,200.00 - 6,600.00 1150 Office Supplies - - - 303.00 - 303.00 1211 Office Equip. 761.00 - - - 761.00 - 1212 Accum. Depr.-Office Equip. - - 3,052.00 - 3,052.00 - 1311 Computer Equip. 227,970.00 - - - 227,970.00 - 1312 Accum. Depr.-Computer Equip. - - - 3,052.00 - 3,052.00 1411 Building Cost 110,000.00 - - - 110,000.00 - 1412 Accum. Depr.-Building - - - 247.00 - 247.00 1510 Land 21,000.00 - - - 21,000.00 - 2101 Accounts Payable - 2,640.00 - - - 2,640.00 2102 Advanced Payments - - - - - - 2103 Interest Payable - - - 666.16 - 666.16 2105 Salaries Payable - - - 486.00 - 486.00 2106 Income Taxes Payable - - - 2,749.55 - 2,749.55 2201 Mortgage Payable - 117,900.00 - - - 117,900.00 2202 Notes Payable - 110,000.00 - - - 110,000.00 3100 Capital Stock - 196,156.00 - - - 196,156.00 3200 Retained Earnings - - - - - - 3300 Dividends - 1,156.48 - - - 1,156.48 4100 Computer & Consulting Revenue - 17,435.00 - 5,500.00 - 22,935.00 5010 Rent Expense - - 2,200.00 - 2,200.00 - 5020 Salary Expense - 1,620.00 486.00 - - 1,134.00 5030 Advertising Expense 250.00 - - - 250.00 - 5040 Repairs & Maint. Expense 1,140.00 - - - 1,140.00 - 5050 Oil & Gas Expense 865.00 - - - 865.00 - 5080 Supplies Expense - 505.00 303.00 - - 202.00 5090 Interest Expense - - 666.16 - 666.16 - 5100 Insurance Expense - - 221.00 - 221.00 - 5110 Depreciation Expense - - 247.00 - 247.00 - 5120 Income Tax Expense - - 2,749.55 - 2,749.55 - TOTAL 451,812.48 451,812.48 15,424.71 15,424.71 466,227.19 466,227.19 NET INCOME `Explanation / Answer
WORKSHEET 30.06.18 Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 83,283 83,283 83,283 Accounts Receivable 1,239 5,500 6,739 6,739 Prepaid insurance 5,304 221 5083 5083 Prepaid rent 4400 2,200 6600 6600 office supplies 303 303 303 office equipment 761 761 761 Acc. Dep-Equipment 3052 3052 3052 Computer equipment 227970 227970 227970 Acc. Dep-Computer 3,052 3,052 3,052 Building 110000 110000 110000 Acc. Dep_Building 247 247 247 Land 21,000 21,000 21,000 Accounts payable 2,640 2,640 2640 Advanced payments Interest payable 666.16 666.16 666.16 Salaries payable 486 486 486 Income Tax payable 2749.6 2749.6 2749.55 Mortgage payable 117900 117900 117900 Notes payable 110000 110000 110000 Capital Stock 196156 196156 196156 Retained earnings Dividend 1156.5 1156.48 1156.48 Computer and consulting revenue 17435 5500 22935 22935 Rent expense 2200 2,200 2,200 Salary expenses 1620 486 1134 1134 Advertising expense 250 250 250 Repairs and Maint exepenses 1,140 1,140 1,140 Oil and Gas expenses 865 865 865 Supplies expenses 505 303 202 202 Interest expense 666.2 666 666 Insurance expenses 221 221 221 Depreciation expenses 247 247 247 Income tax expense 2,750 2,750 2,750 Total 451,812 451812 15,425 15,425 466,227 466,227 8,339 24,271 457,888 441,956 Net Income 15,932 15,932 24,271 24,271 457,888 457,888