Part 3

Potter Enterprises

Adjusted Trial Balance

December 31, 2013

Account Title Debit Credit

Cash .............................................................................. $35,000

Accounts receivable .................................................... 2,250

Office supplies ............................................................. 700

Prepaid insurance ........................................................ 600

Office equipment .......................................................... 30,000

Accumulated depreciation- Office equipment ............ $ 7,000

Accounts payable ........................................................ 2,350

Salaries payable ........................................................... 900

H. Potter, Capital .......................................................... 60,000

H. Potter, Withdrawals ................................................. 25,000

Commissions earned ................................................... 71,420

Depreciation expense - Office equipment .................. 7,000

Salaries expense .......................................................... 23,620

Insurance expense ....................................................... 1,800

Rent expense ................................................................ 4,800

Office supplies expense .............................................. 1,500

Utilities expense ........................................................... 6,600

Telephone expense ...................................................... 2,800

Totals .................................................................... $141,670 $141,670

Potter Enterprises began business on January 1, 2013. Using the above adjusted Trial Balance, create an Income Statement, Statement of Owners Equity and a Balance Sheet for the fiscal year ending December 31, 2013, in an Excel spreadsheet.