I need help with the 10-column worksheet. When I do the balance sheet the difference of my balance numbers do not equal my net income when it should. My net income is correct since the books states it is the right income but I just need this last step to complete it and I am completely stuck. now. What am I doing wrong? Thank you. This is what I got and below it is the instructions.

This is my 10 column sheet and as you can see the difference of my balance numbers do not equal my net income.

Kelly Consulting
Worksheet
For the Month Ended May 31, 2016
	Trial Balance		Adjustments		Adjusted T/B		Income Statement		Balance Sheet
Account Titles	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	44,195				44,195				44,195
Accounts Rec.	8,080				8,080				8,080
Supplies	2,085			b) 1370	715				715
Prepaid Rent	3,200			e) 1600	1,600				1,600
Prepaid Insurance	1,500			a) 275	1,225				1,225
Office Equipment	14,500				14,500				14,500
Accumulated Depreciation		330		c) 330		660				660
Accounts Pay.		895				895				895
Salaries Pay.		-		d) 325		325				325
Unearned Fees		7,000	f) 3790			3,210				3,210
Common Stock		30,000				30,000				30,000
Retained Earnings		12,300				12,300
Dividends	10,500				10,500
Fees Earned		36,210		f) 3790		40,000		40,000
Salary Exp.	1,380		d) 325		1,705		1,705
Rent Exp.			e) 1600		1,600		1,600
Supplies Exp.			b) 1370		1,370		1,370
Depr. Exp.			c) 330		330		330
Insurance Exp.			a) 275		275		275
Misc. Exp.	1,295				1,295		1,295
	86,735	86,735	7,690	7,690	87,390	87,390	6,575	40,000	70,315	35,090
Net Income							33,425			35,225
							40,000	40,000
This is the problem and the instructions for the assignment

Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2016. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions:

May	3	Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500.
	5	Received cash from clients on account, $2,450.
	9	Paid cash for a newspaper advertisement, $225.
	13	Paid Office Station Co. for part of the debt incurred on April 5, $640.
	15	Recorded services provided on account for the period May 1–15, $9,180.
	16	Paid part-time receptionist for two weeks’ salary including the amount owed on April 30, $750.
	17	Recorded cash from cash clients for fees earned during the period May 1–16, $8,360.

Record the following transactions on Page 6 of the journal:

May	20	Purchased supplies on account, $735.
	21	Recorded services provided on account for the period May 16–20, $4,820.
	25	Recorded cash from cash clients for fees earned for the period May 17–23, $7,900.
	27	Received cash from clients on account, $9,520.
	28	Paid part-time receptionist for two weeks’ salary, $750.
	30	Paid telephone bill for May, $260.
	31	Paid electricity bill for May, $810.
	31	Recorded cash from cash clients for fees earned for the period May 26–31, $3,300.
	31	Recorded services provided on account for the remainder of May, $2,650.
	31	Paid dividends, $10,500.

Required:

1.

The chart of accounts is shown in a separate panel and the post-closing trial balance as of April 30, 2016, is shown below.

A.	For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Date the balances May 1, enter Balance in the Item column and select a check mark in the Posting Reference column.
B.	Journalize each of the May transactions in the two-column journal starting on Page 5 of the journal. Refer to the Chart of Accounts for exact wording of account titles. (Do not insert the account numbers in the journal at this time.)

2.

Post the journal entries on pages 5 and 6 of the journal to the ledger of four-column accounts.

3.

Prepare an unadjusted trial balance.

4.

At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).

•	Insurance expired during May is $275.
•	Supplies on hand on May 31 are $715.
•	Depreciation of office equipment for May is $330.
•	Accrued receptionist salary on May 31 is $325.
•	Rent expired during May is $1,600.
•	Unearned fees on May 31 are $3,210.

5.

(Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on a 10-column end-of-period spreadsheet (work sheet), and complete the spreadsheet.

6.

A.	Journalize the adjusting entries on Page 7 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
B.	Post the adjusting entries to the ledger.

7.

Prepare an adjusted trial balance.

8.

Prepare an income statement, a retained earnings statement, and a balance sheet.*

9.

A.	Prepare the closing entries on Page 8 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
B.	Post the closing entries to the ledger. Indicate closed accounts by inserting a 0 (zero) in either of the Balance columns opposite the closing entry.

10.

Prepare a post-closing trial balance.

*	For guidance in completing the financial statements, be sure to read the instructions above each statement carefully.

Kelly Consulting

POST-CLOSING TRIAL BALANCE

April 30, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	22,100.00
2	Accounts Receivable	3,400.00
3	Supplies	1,350.00
4	Prepaid Rent	3,200.00
5	Prepaid Insurance	1,500.00
6	Office Equipment	14,500.00
7	Accumulated Depreciation		330.00
8	Accounts Payable		800.00
9	Salaries Payable		120.00
10	Unearned Fees		2,500.00
11	Common Stock		30,000.00
12	Retained Earnings		12,300.00
13	Totals	46,050.00	46,050.00

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