hi, can you help with financial statement worksheet and income statement. they seem off.
My General Journal entries are all correct.
My general journal entries are all correct.
Here is the worksheet.
Income statement
General Journal Note: You can only enter data into the yellow filled cells. Transaction Date Account Name Description Debit Credit 01 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip. 1311 Con 3100 Hudson Bloom, Capital hudson bloom investment hudson bloom investment hudson bloom investment 158,592.00 36,960.00 01 195,552.00 912.00 02 02 Jun 01 Jun 01 1211 Office Equip. 1110 Cash office equipment office equipment 912.00 | 13,440.00 03 03 Jun 01 Jun 01 1311 Computer Equip 1110 Cash computer equipment computer equipment 13,440.00 170,000.00 04 04 04 Jun 02 Jun 02 Jun 02 1311 Computer Equip. 1110 Cash 2202 Notes Payable Troyace computers royace computers royace computers 34.000.00 136,000.00 400.00 05 05 Jun 04 Jun 04 1211 Office Equip. 2101 Accounts Payable purchased on credit purchased on credit 400.00 80.00 06 06 Jun 08 Jun 08 2101 Accounts Payable 1211 Office Equip. invoice number 98432 returned invoice number 98432 returned 80.00 800 26,000.00 Jun 10 Jun 10 2202 Notes Payable 1 110 Cash check 5003 royace computers check 5003 royace computers 07 26,000.00 5,304.00 Jun 14 Jun 14 1130 Prepaid Insurance 1110 Cash seth's insurance seth's insurance 08 5,304.00 8,000.00 09 09 Jun 16 Jun 16 1110 Cash land and building purchased 4100 Computer & Consulting Reland and building purchased 8,000.00 10 10 10 Jun 16 Jun 16 Jun 16 15,000.00 80,000.00 1510 Land 1411 Building 1110 Cash 2201 Mortgage Payable land and building purchased land and building purchased land and building purchased land and building purchased 9,500.00 85,500.00 | 3,200.00 11) 11 Jun 17 Jun 17 1140 Prepaid Rent 1 110 Cash advertising expense advertising expense 3,200.00 400.00 12 12 Jun 17 Jun 17 5030 Advertising Expense 2101 Accounts Payable advertising expense advertising expense 400.00 13 4,200.00 Jun 21 Jun 21 1120 Accounts Receivable accounts payable 4100 Computer & Consulting Reaccounts payable 13] 4,200.00 14 800.00 Jun 21 | Jun 21 1211 Office Equip. 1110 Cash office machine expense office machine expense 14 800.00 T 3 20.00 15 15 Jun 21 | Jun 21 2101 Accounts Payable 1110 Cash billed service performed billed service performed 320.00 400.00 16 16 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash salaries expense salaries expense 400.00 1,290.00 Jun 22 Jun 22 17 5040 Repairs & Maint. Expense computer parts and repair co. 2101 Accounts Payable computer parts and repair co. 1,290.00 960.00 18 18 Jun 22 Jun 22 5020 Salary Expense 1110 Cash advertising expense advertising expense 960.00 3,365.00 19 19 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable purchase office supplies purchase office supplies 3,365.00 1 680.00 20 201 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable cash from billing cash from billing | 680.00 T 6 .120.00 21 21 Jun 28 Jun 28 1120 Accounts Receivable services performed 4100 Computer & Consulting Reservices performed 6,120.00 22 22 Jun 29 Jun 29 1110 Cash 1120 Accounts Receivable computer parts and repair co. computer parts and repair co. 5,799.00 1 1 5 ,799.00 1,290.00 23 23 Jun 29| Jun 29 2101 Accounts Payable 1110 Cash cash from billing cash from billing 1.290.00 960.00 241 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash paid salaries paid salaries 960.00 L 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash paid salaries paid salaries 960.00 1 24 960.00 25 25 Jun 30 Jun 30 5050 Oil & Gas Expense 2101 Accounts Payable O & G oil and gass co. O & G oil and gass co. 790.00 1 790.00 2,300.00 26 26 Jun 30] Jun 30 3300 Hudson Bloom, Withdrawal ownwer's drawing 1110 Cash ownwer's drawing 1.600.00 27 27 Jun 30 Jun 30 5010 Rent Expense 1140 Prepaid Rent rent expense rent expense 1,600.00 399.00 Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies 28 physical inventory physical inventory 399.00 291 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable interest on mortgage interest on mortgage 320.63 1 320.63 221.00 30 30 Jun 30 | Jun 30 5100 Insurance Expense 1130 Prepaid Insurance interest on mortgage interest on mortgage 221.00, 5,500.00 31 31) Jun 30 Jun 30| 1120 Accounts Receivable 4100Computer & Consulting Re Need a Description 5,500.00 32 3,903.08 32 Jun 30, Jun 30 Jun 30 Jun 30 5110 Depreciation Expense depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Computer E depreciation for one month 1212 Accum. Depr.-Office Equip depreciation for one month 210.32 3,673.33 19.43 32 576.00 33 33 Jun 30 Jun 30 5020 Salary Expense 2105 Salaries Payable unpaid salaries unpaid salaries 576.00 1,096.00 341 341 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable interest from royce computers interest from royce computers 1.096.00 23,820.00 35] 35 Jun 301 Jun 30 4100| Computer & Consulting Re closing revenue account 3400 Income Summary closing revenue account 23,820.00 221.00 30 30 Jun 30 Jun 30 5100 Insurance Expense 1130 Prepaid Insurance interest on mortgage interest on mortgage 221.00 5.500.00 Jun 30 Jun 30 1120 Accounts Receivable 4100| Computer & Consulting Re Need a Description 31 5,500.00 32 3,903.08 32 Jun 301 Jun 30 Jun 30 Jun 30 5 110 Depreciation Expense depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Computer El depreciation for one month 1212 Accum. Depr.-Office Equip depreciation for one month 210.32 3,673.33 19.43 32 576.00 33 33 Jun 30 Jun 30 5020 Salary Expense 2105 Salaries Payable unpaid salaries unpaid salaries 576.00 T] 1,096.00 34 34 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable interest from royce computers interest from royce computers 1,096.00 23,820.00 Jun 30| Jun 30 4100| Computer & Consulting Rd closing revenue account 3400 Income Summary closing revenue account 35 23,820.00 L 12,515.71 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 3400 Income Summary closing expense account closing expense account 5020 Salary Expense closing expense account 5030 Advertising Expense closing expense account 5040 Repairs & Maint. Expense closing expense account 5010 Rent Expense closing expense account 5110 Depreciation Expense closing expense account 5090 Interest Expense closing expense account 5080 Supplies Expense closing expense account 5050 Oil & Gas Expense closing expense account 5 100 Insurance Expense closing expense account 2,496.00 400.00 1,290.00 1,600.00 3,903.08 1,416.63 399.00 790.00 221.00 36 36 36] 11,304.29 37 37) Jun 30 Jun 30 3400 Income Summary 3 100 Hudson Bloom, Capital closing income summary closing income summary 11,304.29 38 2,300.00 Jun 30 | Jun 30 3100 Hudson Bloom, Capital closing withdrawal accounts 3300 Hudson Bloom, Withdrawal closing withdrawal accounts 38 2,300.00 A Byte of Accounting, Inc. Worksheet For Period Ending June 30, 2019 Adjusted Trial Balance Debit Credit 54.727.00 Income Statement Debit Credit Balance Sheet Debit Credit 4.470.00 5,500.00 5 ,304.00 3.200.00 3,365.00 2,032.00 292.00 281.00 220,400.00 Account lumber Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311|Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Hudson Bloom, Capital 3300 Hudson Bloom, Withdrawals Unadjusted Trial Balance Debit Credit 76,370.00 0.00 1,156.00 0.00 5,304.00 0.00 3,200.00 0.00 680.00 0.001 2,032.00 0.00 0.00 0.001 220,400.00 0.00 0.001 0.001 80,000.00 0.00 0.00 15,000.00 0.00 0.00 1.470.00 0.00 0.001 0.001 0.00 0.001 0.001 0.001 8 5,500.00 0.00 110,000.00 0.00 195,552.00 2,300.00 0.00 Adjusting Entries Debit Credit 0.00 0.00 5,500.00 0.00 0.00 221. 00 0.00 1.600.00 0.001 399.00 0.001 0.00 0.001 19.43 0.00 0.00 0.001 3.673.33 0.001 0.00 0.00 210.32 0.00 0.00 0.00 0.001 0.001 0.00 0.001 1,416.63 0.00 576.00 0.00 0.00 0.001 0.00 0.00 0.00 0.00 0.00 9,500.00 198888888888888888888888888888 111111 TTT 0 8888 24,140.00 24,140.00 T 4100|Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 0.00 0.00 1.920.001 400.00 1,290.00 790.00 0.00 0.00 0.00 0.00 18,320. 00 0.00 0.001 0.001 0.00 0.00 0.00 0.001 0.00 0.00 .00 1.600.001 576. 00 0.00 0.00 0.00 399.00 1,416.63 221.00 3,903.08 5,500.00 0.001 0 .000 0. 00 0.00 0.00 0.00 $ 0.001 0.001 0.00 2 92.00 1.536.00 4 00.00 2,250.00 790.00 281.00 0.00 0.00 0.00 2,800.00 410,842.00 410,842.00 13,615.71 13.615.71 1.00 1.00 1.00 Total NET INCOME Balance 1.00 1.00 1.001 1.00 1.00 100 1.00 1.00 1.00 1.00 100 Revenues Computer Revenue 19.940.00 Expenses Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Oil & Gas Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Total $ 2,908.00 1,536.00 400.00 2,250.00 $790 $ 281.00 $ 5,257.00 Net Income $ 14,683.00
