Adjustments Debit Credit Financial Statements: Account # Credit Adj. trial balance Debit Credit 3,300.00 Purchases, net Gross profit Operating expenses Net Income (loss) 1,000,000.00 $ 250,000.00 15,000.00 +/- current assets +/- current liabilities = depreciation Cash from operations Investments Financing Cash from other. Total cash flows: Beginning cash: Ending cash: 5,500.00 5,500.00 Statement of equity Beginning balance $ 1,365,000.00 +/- Income (loss) + Contributions - Withdrawals Retained earings (13.036.96) Ending balance $ 1,351,963.04 89,414.37 89,414.37 1,751.33 1,365,000.00 1,751.33 1,365,000.00 13,036.96 105001 105004 107001 107002 107003 107004 107011 108001 201001 201002 301001 302001 303001 401002 501001 502001 601001 601002 601004 601005 601006 601007 601009 601010 601013 601022 601017 601018 701002 Trial balance Account Name Debit Prepaid insurance 3,300.00 Prepaid advertising Building 1,000,000.00 Land Kitchen equipment 250,000.00 Office equipment 15,000.00 Vehicles Accumulated depreciaton Accounts payable Wages payable Owner's contributions Owner's withdrawals Retained earnings 13,036.96 Sales of food Purchases of food Purchase discounts on food Advertising Auto Bank fees & credit card fees Commission Telephone Cable & Intemet Insurance Professional fees Security Utilities Wages Supplies Depreciation 1,372,251.33 . Balance sheet Current assets $ 94,214.37 Other assets, net 1,259,500.00 Total assets $ 1,353,714.37 Current liabilities S 1,751.33 Other liabilities Owners equity 1,351,963.04 Total liab. & equity $ 1,353,714.37 . . . . . . . . . . . 1,372,251.33 1,372,251.33 1,372,251.33 | | Adjustments Debit Credit Financial Statements: Account # Credit Adj. trial balance Debit Credit 3,300.00 Purchases, net Gross profit Operating expenses Net Income (loss) 1,000,000.00 $ 250,000.00 15,000.00 +/- current assets +/- current liabilities = depreciation Cash from operations Investments Financing Cash from other. Total cash flows: Beginning cash: Ending cash: 5,500.00 5,500.00 Statement of equity Beginning balance $ 1,365,000.00 +/- Income (loss) + Contributions - Withdrawals Retained earings (13.036.96) Ending balance $ 1,351,963.04 89,414.37 89,414.37 1,751.33 1,365,000.00 1,751.33 1,365,000.00 13,036.96 105001 105004 107001 107002 107003 107004 107011 108001 201001 201002 301001 302001 303001 401002 501001 502001 601001 601002 601004 601005 601006 601007 601009 601010 601013 601022 601017 601018 701002 Trial balance Account Name Debit Prepaid insurance 3,300.00 Prepaid advertising Building 1,000,000.00 Land Kitchen equipment 250,000.00 Office equipment 15,000.00 Vehicles Accumulated depreciaton Accounts payable Wages payable Owner's contributions Owner's withdrawals Retained earnings 13,036.96 Sales of food Purchases of food Purchase discounts on food Advertising Auto Bank fees & credit card fees Commission Telephone Cable & Intemet Insurance Professional fees Security Utilities Wages Supplies Depreciation 1,372,251.33 . Balance sheet Current assets $ 94,214.37 Other assets, net 1,259,500.00 Total assets $ 1,353,714.37 Current liabilities S 1,751.33 Other liabilities Owners equity 1,351,963.04 Total liab. & equity $ 1,353,714.37 . . . . . . . . . . . 1,372,251.33 1,372,251.33 1,372,251.33 | |