Directions:

Write the heading for the worksheet for the fiscal period ending December 31, 20xx.

Record the trial balance using the accounts and their balances from the Ledger tab. Some are done for you.

Calculate and record the Supplies adjustment. There is $5,600.00 in supplies on hand at the end of the fiscal year.

Calculate and record the Insurance adjustment. There is $900.00 of insurance coverage left at the end of the fiscal year.

Prove the Adjustments columns.

Extend all balance sheet account balances.

Extend all income statement account balances.

Calculate and record the net income or loss.

Total and rule the Income Statement and Balance Sheet columns.

ACCOUNT Cash ACCOUNT NO 110 BALANCE CREDIT DEBIT CREDIT ACCOUNT Income Summary POST REF. ACCOUNT NO WORK SHEET DATE ITEM DEBIT POST: REF. BALANCE DEBIT CREDIT Dec. 31 $35.640.00 DATE ITEM DEBIT CREDIT $35,640.00 $13,660.00 $21.980.00 Adjustments Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Account Title Trial Balance Debit Credit $21,980.00 $ 300.00 Cash ACCOUNT Petty Cash ACCOUNT NO 120 Petty Cash BALANCE ACCOUNT Sales ACCOUNT NO 410 POST REF. DATE ITEM DEBIT CREDIT DEBN CREDIT PUST REF BALANCE DEBIT CREDIT Dec. 31 21 300.00 $ 300.00 DATE ITEM DEBIT CREDIT Dec 31 S49,000.00 $49,000.00 Income Summary Sales ACCOUNT Accounts Receivable ACCOUNT NO 130 $49,000.00 $49,000.00 ACCOUNT Advertising Expense ACCOUNT NO POST REF 510 BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT POST REF BALANCE DEBIT Dec. 31 21 $ 6.250.00 S 6.250.00 DATE ITEM DEBIT CREDIT CREDIT Dec. $2,530.00 $2,530.00 Net Income ACCOUNT Supplies ACCOUNT NO. 140 ACCOUNT ACCOUNT NO POST REF Insurance Expense 520 BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT PUST BALANCE DEBIT CREDIT Dec 1 S12,100.00 $12,100.00 DATE ITEM REF DEBIT CREDIT ACCOUNT Insurance ACCOUNT NO 150 ACCOUNT Miscellaneous Expense ACCOUNT NO 530 POST REF BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT POST REF. Dec 1 $ 3.600.00 $ 3.600.00 DATE BALANCE DEBIT CREDIT ITEM DEBIT CREDIT D ACCOUNT Accounts Payable ACCOUNT NO 210 Dec. 1 S 780.00 $ 780.00 POST REF BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT Supplies Expense ACCOUNT NO 540 Dec. 31 1 $ 1,100.00 S 1,100.00 POST REF BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT Ray Brown, Capital ACCOUNT NO. 310 DATE POST. REF BALANCE DEBIT CREDIT ITEM DEBIT CREDIT ACCOUNT Utilities Expense ACCOUNT NO 550 Dec 1 1 $10.000.00 $10,000.00 POST REF. BALANCE DEBIT CREDIT DATE ITEM DEBIT CREDIT ACCOUNT Ray Brown, Drawing ACCOUNT NO 320 Dec. 1 $5,560.00 $5,560.00 DATE POST REF. ITEM BALANCE DEBIT DEBIT CREDIT CREDIT Dec 1 S 7,000.00 S 7,000.00