The attached is from one of our clients and this is work you would be expected to complete in your first six months.

Instructions:

With the attached information you will need to prepare the following:

(1) Comparative Balance Sheets as of 12/31/13 (2) Income statements for the year ending 12/31/13 (3) Statement of cash flow for the year ended 12/31/14 In addition, you will need to prepare a prepaid expense schedule based on the transactions provided.

ABC Company
Trial Balance
As of December 31, 2013
	Debit	Credit
Cash - B of A #0144 Ckg	25.00
Cash - B of A #1605 Savings	3.23
Cash - B of A #1649 Ckg	293,833.90
Cash - B of A #6766 Ckg	499,713.31
Cash - B of A #6779 Invstmnt	35.00
Cash - B of A #7336 Freesource	26,247.62
Cash - Square 1 Checking (6238)	49,975.00
Accounts Receivable	732,206.50
Allowance for Bad Debts		2,500.00
Loans to Stockholders	20,000.00
Misc Receivable	7,300.00
Prepaid Expenses	26,050.53
Computers	56,244.61
Computers:Accumulated Depreciation - Computers		16,845.74
Furniture	15,545.18
Furniture:Accumulated Depreciation - Furniture		3,203.62
Security Deposits	3,949.96
Accounts Payable		40,499.32
401(k) Payable		3,601.02
Accrued Bonus(Comp Bonus Plan)		49,500.00
Accrued Commissions		36,201.45
Accrued Expenses		77,245.36
Unearned Revenue		942,475.02
Warrant liability		8,904.00
Additional Paid In Capital		873,631.64
Common Stock		320.07
Opening Balance Equity		1.00
Preferred Stock		3,136,589.32
Retained Earnings	1,095,975.49
Consulting		9,967.00
Software Configuration Consulting		178,720.03
Software License		274,012.43
Training		275,814.78
Computer services/Supplies - Production	9,832.97
Health Benefits - Production	3,252.93
Meals and Entertainment - Production	1,116.84
Payroll Taxes - Production	6,953.77
Payroll Wages - Production	84,743.43
Production Costs	50,012.58
Travel - Production	1,193.32
Product Development:Contractor - Product Development	411,985.99
Product Development:Health Benefits - Product Development	26,285.93
Product Development:meals and entertainment	710.66
Product Development:Payroll Taxes - Product Development	33,346.25
Product Development:Payroll Wages - Product Development	352,990.74
Product Development:Stock Based Compensation	1,341.35
Product Development:Travel	1,772.82
Sales & Marketing:Advertising - Sales & Marketing	42,223.42
Sales & Marketing:Commissions & Fees - Sales & Marketing	169,910.23
Sales & Marketing:Computer services/Supplies	43,099.10
Sales & Marketing:Dues & subscriptions	10,284.87
Sales & Marketing:Health Benefits - Sales & Marketing	21,889.21
Sales & Marketing:Meals & Entertainment - Sales & Marketing	20,657.81
Sales & Marketing:Office Supplies	846.44
Sales & Marketing:Payroll Taxes - Sales & Marketing	63,714.88
Sales & Marketing:Payroll Wages - Sales & Marketing	595,273.17
Sales & Marketing:Promotional - Sales & Marketing	47.59
Sales & Marketing:Public Relations - Sales & Marketing	29,866.67
Sales & Marketing:Stationary and Printing - Sales & Marketing	10,560.39
Sales & Marketing:Stock Based Compensation	4,523.28
Sales & Marketing:Trade Show / Conferences- Sales & Marketing	10,851.18
Sales & Marketing:Travel - Sales & Marketing	40,657.76
General & Administrative:Advertising	1,468.05
General & Administrative:Bad Debts	2,500.00
General & Administrative:Bank Charges	2,051.97
General & Administrative:Business Gift	5,927.08
General & Administrative:Charitable Contributions	313.00
General & Administrative:Commissions & Fees	100.00
General & Administrative:Comp Bonus Plan	49,500.00
General & Administrative:Computer services/supplies	43,086.29
General & Administrative:Contractors	189,166.73
General & Administrative:Dues & Subscriptions	544.71
General & Administrative:Guaranteed Payment	42,277.88
General & Administrative:Health Benefits	10,660.30
General & Administrative:Insurance	18,988.93
General & Administrative:Legal & Professional Fees	151,434.85
General & Administrative:Meals and Entertainment	24,075.98
General & Administrative:Office Expenses	3,664.06
General & Administrative:Office Parking	3,571.04
General & Administrative:Office Supplies	30,820.88
General & Administrative:Payroll Fees	13,715.55
General & Administrative:Payroll Taxes - General & Administrative	12,885.55
General & Administrative:Payroll Wages - General & Administrative	158,076.30
General & Administrative:Postage/Messenger/Delivery/Freight	3,322.07
General & Administrative:Rent	74,886.94
General & Administrative:Stationery & Printing	5,003.41
General & Administrative:Stock Based Compensation	43,108.96
General & Administrative:Supplies	34.00
General & Administrative:Taxes & Licenses	24,198.90
General & Administrative:Telephone	18,073.37
General & Administrative:Travel	96,531.89
Depreciation	12,035.99
Interest Expense	4,543.21
Loss on extinguishment of debt	5,818.00
Non-cash interest	595.00
TOTAL	$ 5,930,031.80	$ 5,930,031.80