Patels Tax Services
Adjusted Trial Balance
For Year Ending December 31, 2018
	Debit	Credit
Cash	$ 5,800
Accounts Receivable	1,450
Prepaid Insurance	1,650
Office Supplies	650
Equipment	9,300
Accumulated Depreciation		$ 120
Accounts Payable		3,050
Unearned Revenue		1,040
Notes Payable		4,640
Patel, Capital		11,450
Patel, Withdrawals	1,600
Service Revenue		2,260
Depreciation Expense	120
Insurance Expense	150
Interest Expense	40
Office Supplies Expense	450
Rent Expense	1,350
TOTALS	$ 22,560	$ 22,560

1. Prepare Patels Tax service Income Statement
2. Prepare Patels Tax service Statement of owners equity
3. Prepare Patels Tax service balance sheet
4. Prepare the closing entries using the income summary to close temporary accounts