te: Enter debits before credits. Note: tnter aedits derore crealts. Note: tnter debits betore credits

Service revenue Expenses : Salaries Utilit i es Insurance Suppl i es Net income Beginning balance, PYTHORT TAX SERVICES Income Statement $ 70,000 44,500 s 23,000 s 31,650 $ 91,650 $ 3,200 $ 60,000 90,000 $ 98,900 6, 700 4,300 1 350 PYTHORT TAX SERVICES 56 850 13, 150 Statement of Stockholders ' Equity Enter debits before credits. Date December 31 Enter debits before credits. Date December 31 General Journal General Journal Debit Debit Credit Credit Total Stockholders Equ i ty 68,000 15,000 13,150 (4,500) 31 Note: January 1 Issue stock Net income Dividen ds Ending balance, Assets Cash Common Stock $ 45,000 15, 000 $ 60,000 Retained Earnings 13,150 (4,500) December 31 PYTHORT TAX SERVICES Balance Sheet Liabilities Accounts receivable Total assets Note: Enter aeDlts Derore creoltS. Date 5,700 Accounts payable Stockholders Cornon stock Retained earnings Total liabilities General Journal Equ i ty 650 and equities $ 7,250 91 650 $ 98,900 PYTHORT TAX SERVICES Post-Closing Trial Balance Debit Credit Accounts Totals Debit Credit December 31