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Swifty Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The unadjusted trial balance and adjusted trial balance on September 30
Swifty Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The unadjusted trial balance and adjusted trial balance on September 30 are shown here.
SWIFTY GOLF INC. TRIAL BALANCE SEPTEMBER 30, 2017 | ||||||||
Unadjusted | Adjusted | |||||||
Dr. | Cr. | Dr. | Cr. | |||||
Cash | $7,003 | $7,003 | ||||||
Accounts Receivable | 383 | 1,031 | ||||||
Prepaid Rent | 1,834 | 1,018 | ||||||
Supplies | 1,310 | 266 | ||||||
Equipment | 14,520 | 14,520 | ||||||
Accumulated Depreciation-Equipment | $376 | |||||||
Notes Payable | $5,300 | 5,300 | ||||||
Accounts Payable | 1,131 | 1,131 | ||||||
Salaries and Wages Payable | 643 | |||||||
Interest Payable | 53 | |||||||
Unearned Rent Revenue | 1,050 | 853 | ||||||
Common Stock | 13,225 | 13,225 | ||||||
Retained Earnings | 0 | 0 | ||||||
Dividends | 626 | 626 | ||||||
Service Revenue | 15,086 | 15,734 | ||||||
Rent Revenue | 709 | 906 | ||||||
Salaries and Wages Expense | 9,447 | 10,090 | ||||||
Rent Expense | 930 | 1,746 | ||||||
Depreciation Expense | 376 | |||||||
Supplies Expense | 1,044 | |||||||
Utilities Expenses | 448 | 448 | ||||||
Interest Expense | 53 | |||||||
Totals | $36,501 | $36,501 | $38,221 | $38,221 |
Prepare an income statement for the 3 months ending September 30. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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