a Worksheet December 31, Year 1 b Adjusting Entries Adjusted TB Dr Cr Dr Cr e d Closing Entries Cr Post Closing TB Dr Cr Dr 1,800 Unadjusted TB Dr Cr Cash 43,450 Supplies Accounts Receivable 4,000 Prepaid Rent 12,000 Prepaid Insurance 6,000 Short-Term Investments 20,000 Interest Receivable Property, Plant & Equipment 40,000 Accumulated Depreciation Accounts Payable 250 Dividend Payable Deferred Revenue 500 Notes Payable 30,000 Interest Payable Income Tax Payable Notes Payable (Long Term) Common Stock 10,000 Retained Earnings Dividends Service Revenue 120,000 Interest Revenue Salaries and Wages Expense 32,000 Utilities Expense 1,500 Supplies Expense Rent Expense Insurance Expense Depreciation Expense Interest Expense Income Tax Expense 750 48,090 750 120,000 1,200 32,000 1,500 1,000 4,000 3,500 2,000 3,000 26,110 Totals 160,750 160,750 121,950 121,950 Deana'a Decorators Statement of Retained Earnings For the year ended December 31, XXX1 ASSETS Current Assets $ Total Current Assets Property, Plant & Equipment, Net of Accumulated Depreciation Total Assets $ $ LIABILITIES Current Liabilities $ Total Current Liabilities STOCKHOLDERS' EQUITY Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ a Worksheet December 31, Year 1 b Adjusting Entries Adjusted TB Dr Cr Dr Cr e d Closing Entries Cr Post Closing TB Dr Cr Dr 1,800 Unadjusted TB Dr Cr Cash 43,450 Supplies Accounts Receivable 4,000 Prepaid Rent 12,000 Prepaid Insurance 6,000 Short-Term Investments 20,000 Interest Receivable Property, Plant & Equipment 40,000 Accumulated Depreciation Accounts Payable 250 Dividend Payable Deferred Revenue 500 Notes Payable 30,000 Interest Payable Income Tax Payable Notes Payable (Long Term) Common Stock 10,000 Retained Earnings Dividends Service Revenue 120,000 Interest Revenue Salaries and Wages Expense 32,000 Utilities Expense 1,500 Supplies Expense Rent Expense Insurance Expense Depreciation Expense Interest Expense Income Tax Expense 750 48,090 750 120,000 1,200 32,000 1,500 1,000 4,000 3,500 2,000 3,000 26,110 Totals 160,750 160,750 121,950 121,950 Deana'a Decorators Statement of Retained Earnings For the year ended December 31, XXX1 ASSETS Current Assets $ Total Current Assets Property, Plant & Equipment, Net of Accumulated Depreciation Total Assets $ $ LIABILITIES Current Liabilities $ Total Current Liabilities STOCKHOLDERS' EQUITY Total Stockholders' Equity Total Liabilities and Stockholders' Equity $
