1.  Cash is overstated by 500.00  and Owners Equity is overstated by $500.00.

2. Utilities Expense of $300.00 was paid on January 25.

3.  Insurance expense of $250.00 was paid on January 27.

4.  supplies for the month in the amount of $450.00 was purchased.

5. Rent for $2000.00 for the month was paid on January 31.

6.  The total revenue of $20,000.00 was collected in the month of January and deposited in the Bank.

8.  Internet and Telephone expense for the month was $150.00

9. Advertising Expense for the month was $300.00.

Required:

Complete the above worksheet with the necessary adjusting or journal entries manually or utilize an excel worksheet if you can.

Make the journal entries for the above transactions or simply make adjusting entries to the worksheet provided.

Prepare the Income Statement for Sample Co as of January 31, 2020.

Prepare the Balance sheet as of January 31, 2020.

Sample Co.
Income Statement
For  the Period  Ending January  31, 2020
Revenue
Revenue			$20,000
Total Revenues			$20,000
Expenses
Rent Expense		2,000
Telephone & Internet		-
Utilities Expense		-
Advertising Expense		-
Insurance Expense		-
Supplies Expense		-
Total Expenses			$2,000
Net Income			$18,000

Sample Co.
Owner's Equity
For the Period Ending January 31, 2020
Beginning Balance, Dec. 31, 2019			$15,100
Add Net Income			0
Less withdrawals			0
Ending Blance, January 31, 2020			$     15,100

Sample Co.
Balance Sheet
As of January 31, 2020
Assets
Current Assets
Cash		$29,250
CD's		-
Other Securities		-
Total Current Assets		$29,250
Total Assets		$29,250
Liabilities
Loan Payable		$0
Total Liabilities		$0
Owner's Equity
Owner's Equity		$0
Total Liabilities and Owner's Equity		$0

Sample Worksheet
Work Sheet
For the Month Ended January  31, 2020
	Trial Balance			Adjustments			Adj. T/Balance		Income Statement		Balance Sheet
Account Title	Dr.	Cr.		Dr.		Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	13,200		a	20,000	b-h	3,950	29,250	0			29,250	0
CD'S	22,000						22,000	0			22,000	0
Other Securities	5,400						5,400	0			5,400	0
Loan Payable		25,000						25,000				25,000
Owner' Equity	0	15,600	b	500			0	15,100			0	15,100
Revenue	0				a	20,000	0	20,000	0	20,000
Interest Income	0						0	0	0	0
Utilities expense	0		c	300			300	0	300	0
Internet & Telephone Expense	0		d	150			150	0	150	0
Advertising Expense			e	300			300	0	300
							0	0	0
Rent Expense			f	2,000			2,000	0	2,000
Supplies expense	0		g	450			450	0	450	0
Insurance expense	0		h	250			250	0	250	0
	40,600	40,600		23,950		23,950	60,100	60,100	3,450	20,000	56,650	40,100
Net income									16,550	0	0	16,550
									20,000	20,000	56,650	56,650