Trial Balance Worksheet as at June 30, 2018
?	?	?	?	?	?	?
Account	Adjusted		Income Statement		Balance Sheet
	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$ 1,040,500.00	?	?	?	$ 1,040,500.00	?
Raw Material Inventory	$ 190,500.00	?	?	?	$ 190,500.00	?
Work-in-Process Inventory	$ 116,050.00	?	?	?	$ 116,050.00	?
Jobs Completed (Finished Goods Inventory)	$ -	?	?	?	$ -	?
Note Receivable	$ 100,000.00	?	?	?	$ 100,000.00	?
Interest Receivable	$ 750.00	?	?	?	$ 750.00	?
Prepaid Insurance	$ 500.00	?	?	?	$ 500.00	?
Construction Equipment	$ 240,000.00	?	?	?	$ 240,000.00	?
Accumulated Depreciation - Construction Equipment	?	$ 2,000.00	?	?	?	$ 2,000.00
Land	$ 50,000.00	?	?	?	$ 50,000.00	?
Building	$ 112,000.00	?	?	?	$ 112,000.00	?
Accumulated Depreciation -Building	?	$ 2,500.00	?	?	?	$ 2,500.00
Accounts Payable	?	$ 200,000.00	?	?	?	$ 200,000.00
Dividend Payable	?	$ 5,000.00	?	?	?	$ 5,000.00
Common Stock	?	$ 1,500,000.00	?	?	?	$ 1,645,800.00
Retained Earnings	$ 5,000.00	?	?	?	$ 5,000.00	?
Sales	?	$ 250,000.00	?	$ 250,000.00	?	?
Interest Revenue	?	$ 750.00	?	$ 750.00	?	?
Cost of Jobs Sold	$ 88,950.00	?	$ 88,950.00	?	?	?
Works Overhead	$ 1,500.00	?	$ 1,500.00	?	?	?
Sales & Administration Expenses	$ 11,000.00	?	$ 11,000.00	?	?	?
Insurance Expense	$ 1,000.00	?	$ 1,000.00	?	?	?
Depreciation Expense	$ 2,500.00	?	$ 2,500.00	?	?	?
Income Summary	?	?	$ 145,800.00	?	?	?
?	?	?	?	?	?	?
?	$ 1,960,250.00	$ 1,960,250.00	$ 250,750.00	$ 250,750.00	$ 1,855,300.00	$ 1,855,300.00

---------------------------------------------------------------------

Statement of Income	?	?
For the Period Ending June 30th 2018	?	?
?	?	?
Sales	?	$ 250,000.00
Interest Revenue	?	$ 750.00
?	?	$ 250,750.00
Cost of Jobs Sold	?	$ 88,950.00
Gross Margin	?	$ 161,800.00
?	?	?
Works Overhead	$ 1,500.00	?
Sales & Administration Expenses	$ 11,000.00	?
Depreciation Expense	$ 2,500.00	?
Insurance Expense	$ 1,000.00	$ 16,000.00
Net Income	?	$ 145,800.00
?	?	?
Statement of Retained Earnings	?	?
For the Period Ending June 30th 2018	?	?
Net Income	$ 145,800.00	?
Less: Dividend	$ 5,000.00	?
?	$ 140,800.00	?

-------------------------------------

Classified Balance Sheet
As at June 30th 2018
Assets	Amounts in $	Amounts in $	Liabilities	Amounts in $	Amounts in $
Current Assets	?	?	Current Liabilities	?	?
Cash	$ 1,040,500.00	?	Accounts Payable	$ 200,000.00	?
Raw Materials Inventory	$ 190,500.00	?	Dividend Payable	$ 5,000.00	$ 205,000.00
Work-in-Process Inventory	$ 116,050.00	?	?	?	?
Note Receivable	$ 100,000.00	?	?	?	?
Interest Receivable	$ 750.00		?	?	?
Prepaid Insurance	$ 500.00	$ 1,448,300.00	?	?	?
Non Current Asset	?	?	Shareholders Equity	?	?
Land	?	$ 50,000.00	Common Stock	$ 1,500,000.00	?
Building	$ 112,000.00	?	Retained Earnings	$ 140,800.00	$ 1,640,800.00
Accumulated Depreciation - Building	$ -2,500.00	$ 109,500.00	?	?	?
Construction Equipment	$ 240,000.00	?	?	?	?
Accumulated Depreciation - Construction Equipment	$ -2,000.00	$ 238,000.00	?	?	?
Total Assets	?	$ 1,845,800.00	Total Liabilities & Equity	?	$ 1,845,800.00

1. Show the Closing Journal Entry