Shark Bait
Unadjusted Trial Balance
December 31, 2017
	Debit	Credit
Cash	161,320
Office Supplies/Lures	8,700
Prepaid Insurance	4,000
Equipment - Boat	24,000
Accounts Payable		4,800
Unearned Revenue		14,000
Notes Payable		16,000
Common Stock		35,000
Additional Paid in Capital - CS		93,000
Sales Revenue		56,000
Interest Expense	480
Salaries Expense	3,400
Utilities Expense	12,000
Boat Gas Expense	4,500
Loss on sale of Supplies/Lures	400
Total	218,800	218,800

Adjusting Entries
12/31/17	Interstest expense		960
	Interest Payable			960
12/31/17	Depreciation Expense		2,667
	Accumulated Deprecation			2,667
12/31/17	Insurance Expense		1,000
	Prepaid Insurance			1,000
12/31/17	Supplies Expense		7,700
	Supplies			7,700
12/31/17	Unearned Revenue		3,500
	Sales Revenue			3,50

1. On Exel, prepare Financial Statements: A) Balance Sheet

B) Income Statement

C) Statement of Retained Earnings

2. Prepare Closing Journal Entries

Record all temporary accounts in Closing Journal Entries

** Ignore Tax