I.

1. C 2. B 3. B 4. C 5. B
II.
1. F 2. F 3. T 4. T 5. F 6. T 7. F 8. T 9. T 10. T

IV. page 222

a. Supplies expense 12,800
Supplies 12,800
b. Depreciatio expense - fur. & fixtur 3,200
Accumulated depreciation 3,200
c. Bad debts expense 5,600
Allowance for bad debts 5,600

Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Cash 287,200 287,200 287,200
Accounts receivable 85,600 85,600 85,600
Supplies 19,200 12,800 6,400 6,400
Furniture and fixtures 31,200 31,200 31,200
Accumulated depreciatio 6,400 3,200 9,600 9,600
Accounts payable 88,800 88,800 88,800
Notes payable 18,800 18,800 18,800
Ooto, capital 364,600 364,600 364,600
Ooto, drawing 58,600 58,600 58,600
Consultancy fee 155,200 155,200 155,200
Insurance expense 78,400 78,400 78,400
salaries expesne 50,400 50,400 50,400
utilities expense 23,200 23,200 23,200
633,800 633,800
Supplies expense 12,800 12,800 12,800
Depreciation expense 3,200 3,200 3,200
bad debts expense 5,600 5,600 5,600
Allowance for bad debts 5,600 5,600 5,600
21,600 21,600 642,600 642,600 173,600 155,200 469,000 487,400
Net Loss 18,400 18,400
173,600 173,600 487,400 487,400
V. page 225
a. Supplies expense 16,000
Supplies 16,000
b. Depreciatio expense - office equip 4,000
Accumulated depreciation 4,000
c. Bad debts expense 7,000
Allowance for bad debts 7,000

Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 359,000 359,000 359,000
Accounts receivable 107,000 107,000 107,000
Supplies 24,000 16,000 8,000 8,000
Office equipment 39,000 39,000 39,000
Accumulated depreciation 8,000 4,000 12,000 12,000
Accounts payable 111,000 111,000 111,000
Notes payable 235,000 235,000 235,000
D, capital 242,000 242,000 242,000
D, drawing 71,000 71,000 71,000
Delivery income 194,000 194,000 194,000
Rent expense 98,000 98,000 98,000
salaries expense 63,000 63,000 63,000
utilities expense 29,000 29,000 29,000
790,000 790,000
Supplies expense 16,000 16,000 16,000
Depreciation expense 4,000 4,000 4,000
bad debts expense 7,000 7,000 7,000
Allowance for bad debts 7,000 7,000 7,000
27,000 27,000 801,000 801,000 217,000 194,000 584,000 607,000
Net Loss 23,000 23,000
217,000 217,000 607,000 607,000
VII page 231
a. Supplies expense 9,000
Supplies 9,000
b. Insurane expense 14,000
Prepaid insurance 14,000
c. Salaries expense 16,900
Salaries payable 16,900

Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Cash 248,000 248,000 248,000
Accounts receivable 96,000 96,000 96,000
Supplies 13,000 9,000 4,000 4,000
Prepaid insurance 28,000 14,000 14,000 14,000
Accounts payable 90,000 90,000 90,000
Notes payable 124,000 124,000 124,000
Al, capital 131,000 131,000 131,000
Al, drawing 60,000 60,000 60,000
Delivery income 252,000 252,000 252,000
Rent expense 84,000 84,000 84,000
salaries expense 50,000 16,900 66,900 66,900
utilities expense 18,000 18,000 18,000
597,000 597,000
Supplies expense 9,000 9,000 9,000
Insurance expense 14,000 14,000 14,000
Salaries payable 16,900 16,900 16,900
39,900 39,900 613,900 613,900 191,900 252,000 422,000 361,900
Net income 60,100 60,100
252,000 252,000 422,000 422,000
VIII page 234
a. Supplies expense 2,800
Supplies 2,800
b. Depreciatio expense - office equip 3,000
Accumulated depreciation 3,000
c. Salaries expense 5,000
Salaries payable 5,000

Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Cash 238,400 238,400 238,400
Accounts receivable 125,600 125,600 125,600
Supplies 23,200 2,800 20,400 20,400
Office equipment 27,200 27,200 27,200
Accumulated depreciation 103,200 3,000 106,200 106,200
Accounts payable 28,000 28,000 28,000
Notes payable 136,000 136,000 136,000
kah, capital 193,600 193,600 193,600
kah, drawing 32,000 32,000 32,000
consultancy fees 152,000 152,000 152,000
Rent expense 78,400 78,400 78,400
salaries expense 50,400 5,000 55,400 55,400
utilities expense 23,200 23,200 23,200
advertising expense 14,400 14,400 14,400
612,800 612,800
Supplies expense 2,800 2,800 2,800
Depreciation expense 3,000 3,000 3,000
Salaries payable 5,000 5,000 5,000
10,800 10,800 620,800 620,800 177,200 152,000 443,600 468,800
Net Loss 25,200 25,200
177,200 177,200 468,800 468,800
IX page 237
a. Supplies expense 7,200
Supplies 7,200
b. Rent expense 10,400
Prepaid rent 10,400
c. utilities expense 3,120
utilities payable 3,120

Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Cash 198,400 198,400 198,400
Accounts receivable 76,800 76,800 76,800
Supplies 10,400 7,200 3,200 3,200
Prepaid rent 22,400 10,400 12,000 12,000
Accounts payable 72,000 72,000 72,000
Notes payable 99,200 99,200 99,200
koo, capital 104,800 104,800 104,800
koo, drawing 48,000 48,000 48,000
Cleaning revenue 201,600 201,600 201,600
Insurance expense 67,200 67,200 67,200
salaries expense 40,000 40,000 40,000
utilities expense 14,400 3,120 17,520 17,520
477,600 477,600
Supplies expense 7,200 7,200 7,200
rent expense 10,400 10,400 10,400
utilities payable 3,120 3,120 3,120
20,720 20,720 480,720 480,720 142,320 201,600 338,400 279,120
Net income 59,280 59,280
201,600 201,600 338,400 338,400
XI page 243
a. insurance expense 1,250 expense
prepaid insurance 1,250 asset
b. Office supplies expense 25,000 expense
Office supplies 25,000 asset
c. Depreciation expense - truck expense
Accu. Depreciation-truck asset
d. unearned rent income 5,000 liability
Rent income 5,000 revenue
e. Interest receivable 500 asset
Interest income 500 revenue
f. salaries expense 2,000 expense
salaries payable 2,000 liability
Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Cash 325,000 325,000 325,000
Accounts receivable 105,000 105,000 105,000
Notes receivable 60,000 60,000 60,000
Prepaid insurance 15,000 1,250 13,750 13,750
Office supplies 30,000 25,000 5,000 5,000
Trucks 1,300,000 1,300,000 1,300,000
Accounts payable 50,000 50,000 50,000
Unearned rent 30,000 5,000 25,000 25,000
Dale, Capital 1,600,000 1,600,000 1,600,000
Dale, Drawing 25,000 25,000 25,000
Trucking revenue 375,000 375,000 375,000
Salaries expense 80,000 2,000 82,000 82,000
rent expense 70,000 70,000 70,000
Utilities expense 10,000 10,000 10,000
gas and oil 35,000 35,000 35,000
2,055,000 2,055,000
insurance expense 1,250 1,250 1,250
office supplies expense 25,000 25,000 25,000
Depreciation expense - truck
Accumulated depreciation
Rent income 5,000 5,000 5,000
Interest receivable 500 500 500
Interest income 500 500 500
Salaries payable 2,000 2,000 2,000
33,750 33,750 2,057,500 2,057,500 223,250 380,500 1,834,250 1,677,000
Net income 157,250 157,250
380,500 380,500 1,834,250 1,834,250
 Ooto Ooto Consultancy
Worksheet
For Year Ended December 31, 2015
Account title Trial Balance Adjustments Adjusted trial balance
Cash 287,200 287,200
Accounts receivable 85,600 85,600
Supplies 19,200 12,800 6,400
Furniture and fixtures 31,200 31,200
Accumulated depreciation 6,400 3,200
Accounts payable 88,800
Notes payable 18,800
Ooto, capital 364,600
Ooto, drawing 58,600 58,600
Consultancy fee 155,200
Insurance expense 78,400 78,400
Salaries expesne 50,400 50,400
Utilities expense 23,200 23,200
Total 633,800 633,800
Supplies expense 12,800 12,800
dep.Exp-fur&fixture 3,200 3,200
bad debts expense 5,600 5,600
allo. For bad debts 5,600
21,600 21,600 642,600
net loss
nsultancy
eet
mber 31, 2015
Adjusted trial balance Income statement Balance sheet
287,200
85,600
6,400
31,200
9,600 9,600
88,800 88,800
18,800 18,800
364,600 364,600
58,600
155,200 155,200
78,400
50,400
23,200

12,800
3,200
5,600
5,600 5,600
642,600 173,600 155,200 469,000 487,400
18,400 18,400
173,600 173,600 487,400 487,400
 D' Assisstance Company
Worksheet
For Year Ended December 31, 2015
Account title Trial Balance Adjustments Adjusted trial balance
Cash 359,000
Accounts receivable 107,000
Supplies 24,000
Office equipment 39,000
Accumulated depreciation 8,000
Accounts payable 111,000
Notes payable 235,000
D, capital 242,000
D, drawing 71,000
Delivery income 194,000
Rent expense 98,000
Salaries expense 63,000
Utilities expense 29,000
Total 790,000 790,000

- - -
Company
eet
mber 31, 2015
Adjusted trial balance Income statement Balance sheet

- - - - -

- - - -
 Alabama Company
Worksheet
For Year Ended December 31, 2016
Account title Trial Balance Adjustments Adjusted trial balance
Cash 248,000
Accounts receivable 96,000
Supplies 13,000
Prepaid insurance 28,000
Accounts payable 90,000
Notes payable 124,000
Al, capital 131,000
Al, drawing 60,000
Delivery income 252,000
Rent expense 84,000
salaries expense 50,000
Utilities expense 18,000
Total 597,000 597,000

- - -
mpany
eet
mber 31, 2016
Adjusted trial balance Income statement Balance sheet

- - - - -

- - - -
 Luzon Trucking Services
Worksheet
For Year Ended December 31, 2016
Account title Trial Balance Adjustments Adjusted trial balance
Cash 325,000
Accounts receivable 105,000
Notes receivable 60,000
Prepaid insurance 15,000
Office supplies 30,000
Trucks 1,300,000
Accounts payable 50,000
Unearned rent 30,000
Dale, Capital 1,600,000
Dale, Drawing 25,000
Trucking revenue 375,000
Salaries expense 80,000
rent expense 70,000
Utilities expense 10,000
gas and oil 35,000
Total 2,055,000 2,055,000

- - -
g Services
eet
mber 31, 2016
Adjusted trial balance Income statement Balance sheet

- - - - -

- - - -
 Luzon Trucking Services
Trial Balance
December 31, 2016

Account title Debit Credit

Cash 325,000
Accounts receivable 105,000
Notes receivable 60,000
Prepaid insurance 15,000
Office supplies 30,000
Trucks 1,300,000
Accounts payable 50,000
Unearned rent 30,000
Dale, Capital 1,600,000
Dale, Drawing 25,000
Trucking revenue 375,000
Salaries expense 80,000
Rent expense 70,000
Utilities expense 10,000
Gas and oil 35,000
2,055,000 2,055,000
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

Ooto Ooto Consultancy

Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 287,200 287,200 287,200
Accounts receivable 85,600 85,600 85,600
Supplies 19,200 12,800 6,400 6,400
Furniture and fixtures 31,200 31,200 31,200
Accumulated depreciation 6,400 3,200 9,600 9,600
Accounts payable 88,800 88,800 88,800
Notes payable 18,800 18,800 18,800
Ooto, capital 364,600 364,600 287,600
Ooto, drawing 58,600 58,600 58,600
Consultancy fee 155,200 155,200 155,200
Insurance expense 78,400 78,400 78,400
Salaries expesne 50,400 50,400 50,400
Utilities expense 23,200 23,200 23,200
Total 633,800 633,800
Supplies expense 12,800 12,800 12,800
dep.Exp-fur&fixture 3,200 3,200 3,200
bad debts expense 5,600 5,600 5,600
allo. For bad debts 5,600 5,600 5,600
21,600 21,600 642,600 642,600 173,600 155,200 469,000 410,400
Net loss 18,400 18,400
173,600 173,600 487,400 410,400
 1
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

D Trucking Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 359,000 359,000 359,000
Accounts receivable 107,000 107,000 107,000
Supplies 24,000 16,000 8,000 8,000
Office equipment 39,000 39,000 39,000
Accumulated depreciation 8,000 4,000 12,000 12,000
Accounts payable 111,000 111,000 111,000
Notes payable 235,000 235,000 235,000
D, capital 242,000 242,000 148,000
D, drawing 71,000 71,000 71,000
Delivery income 194,000 194,000 194,000
Rent expense 98,000 98,000 98,000
salaries expense 63,000 63,000 63,000
utilities expense 29,000 29,000 29,000
790,000 790,000
Supplies expense 16,000 16,000 16,000
Depreciation expense 4,000 4,000 4,000
bad debts expense 7,000 7,000 7,000
Allowance for bad debts 7,000 7,000 7,000
27,000 27,000 801,000 801,000 217,000 194,000 584,000 513,000
Net Loss 23,000 23,000
217,000 217,000 607,000 513,000
 2
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Star Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 150,000 150,000 150,000
Accounts Receivable 120,000 120,000 120,000
Supplies 7,000 7,000 7,000
Prepaid Insurance 15,000 8,000 7,000 7,000
Office Equipment 125,000 125,000 125,000
Accumulated depreciation- office equipme 5,000 10,000 15,000 15,000
Accounts Payable 55,000 55,000 55,000
Mol, Capital 273,000 273,000 273,000
Mol, Drawing 50,000 50,000 50,000
Service Income 198,000 198,000 198,000
Rent expense 30,000 30,000 30,000
Salaries expense 25,000 25,000 25,000
Utilities expense 9,000 9,000 9,000
Total 531,000 531,000

Insurance expense 8,000 8,000 8,000

Depreciation expense-office equipment 10,000 10,000 10,000
Bad debts expense 6,000 6,000 6,000
Allowance for bad debts 6,000 6,000 6,000
24,000 24,000 547,000 547,000 88,000 198,000 459,000 349,000
Net Income 110,000 110,000
198,000 198,000 459,000 459,000
 3
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Look New Reapir Shop
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 50000 50000 50000
Accounts receivable 59000 59000 59000
Prepaid rent 78000 28000 50000 50000
Equipment 127000 127000 127000
Accumulated depreciation - equipment 25000 25000 50000 50000
Accounts Payable 66000 66000 66000
L, Capital 100000 100000 100000
L, Drawing 50000 50000 50000
Repair Income 320000 320000 320000
Rent Expense 75000 28000 103000 103000
Salaries expense 45000 45000 45000
Utilities expense 27000 27000 27000
Total 511000 511000

Depreciation expense - equipment 25000 25000 25000

Bad debts expense 3000 3000 3000
Allowance for bad debts 3000 3000 3000
56000 56000 539000 539000 203000 320000 336000 219000
Net Income 117000 117000
320000 320000 336000 336000
 4
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Al Services
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 248,000 248,000 248,000
Accounts receivable 96,000 96,000 96,000
Supplies 13,000 9,000 4,000 4,000
Prepaid insurance 28,000 14,000 14,000 14,000
Accounts payable 90,000 90,000 90,000
Notes payable 124,000 124,000 124,000
Al, capital 131,000 131,000 131,100
Al, drawing 60,000 60,000 60,000
Delivery income 252,000 252,000 252,000
Rent expense 84,000 84,000 84,000
salaries expense 50,000 16,900 66,900 66,900
utilities expense 18,000 18,000 18,000
597,000 597,000
Supplies expense 9,000 9,000 9,000
Insurance expense 14,000 14,000 14,000
Salaries payable 16,900 16,900 16,900
39,900 39,900 613,900 613,900 191,900 252,000 422,000 362,000
Net income 60,100 60,100
252,000 252,000 422,000 422,100
 5
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Kah Consulatancy Firm
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 238,400 238,400 238,400
Accounts receivable 125,600 125,600 125,600
Supplies 23,200 2,800 20,400 20,400
Office equipment 27,200 27,200 27,200
Accumulated depreciation 103,200 3,000 106,200 106,200
Accounts payable 28,000 28,000 28,000
Notes payable 136,000 136,000 136,000
kah, capital 193,600 193,600 193,600
kah, drawing 32,000 32,000 32,000
consultancy fees 152,000 152,000 152,000
Rent expense 78,400 78,400 78,400
salaries expense 50,400 5,000 55,400 55,400
utilities expense 23,200 23,200 23,200
advertising expense 14,400 14,400 14,400
612,800 612,800
Supplies expense 2,800 2,800 2,800
Depreciation expense 3,000 3,000 3,000
Salaries payable 5,000 5,000 5,000
 10,800 10,800 620,800 620,800 177,200 152,000 443,600 468,800
Net Loss 25,200 25,200
177,200 177,200 468,800 468,800

6
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Koh Cleaning Shop
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 198,400 198,400 198,400
Accounts receivable 76,800 76,800 76,800
Supplies 10,400 7,200 3,200 3,200
Prepaid rent 22,400 10,400 12,000 12,000
Accounts payable 72,000 72,000 72,000
Notes payable 99,200 99,200 99,200
koo, capital 104,800 104,800 116,080
koo, drawing 48,000 48,000 48,000
Cleaning revenue 201,600 201,600 201,600
Insurance expense 67,200 67,200 67,200
salaries expense 40,000 40,000 40,000
utilities expense 14,400 3,120 17,520 17,520
477,600 477,600
Supplies expense 7,200 7,200 7,200
rent expense 10,400 10,400 10,400
utilities payable 3,120 3,120 3,120
20,720 20,720 480,720 480,720 142,320 201,600 338,400 290,400
Net income 59,280 59,280
201,600 201,600 338,400 349,680

7
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Dale trucking Services
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 325,000 325,000 325,000
Accounts receivable 105,000 105,000 105,000
Notes receivable 60,000 60,000 60,000
Prepaid insurance 15,000 1,250 13,750 13,750
Office supplies 30,000 25,000 5,000 5,000
Trucks 1,300,000 1,300,000 1,300,000
Accounts payable 50,000 50,000 50,000
Unearned rent 30,000 5,000 25,000 25,000
Dale, Capital 1,600,000 1,600,000 1,600,000
Dale, Drawing 25,000 25,000 25,000
Trucking revenue 375,000 375,000 375,000
Salaries expense 80,000 2,000 82,000 82,000
rent expense 70,000 70,000 70,000
Utilities expense 10,000 10,000 10,000
gas and oil 35,000 35,000 35,000
2,055,000 2,055,000
insurance expense 1,250 1,250 1,250
office supplies expense 25,000 25,000 25,000
Depreciation expense - truck
Accumulated depreciation
Rent income 5,000 5,000 5,000
Interest receivable 500 500 500
Interest income 500 500 500
Salaries payable 2,000 2,000 2,000
33,750 33,750 2,057,500 2,057,500 223,250 380,500 1,834,250 1,677,000
Net income 157,250 157,250
380,500 380,500 1,834,250 1,834,250
8
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Ben Tailoring Shop
Worksheet
For Year Ended December 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 18,600 18,600 18,600
Accounts receivable 8,000 2,000 10,000 10,000
Notes receivable 5,000 5,000 5,000
Prepaid rent 6,000 2,000 4,000 4,000
Furniture and fixtures 10,000 10,000 10,000
Equipment 50,000 50,000 50,000
Accounts payable 6,000 6,000 6,000
Notes payable 4,000 4,000 4,000
Unearned interest income 600 300 300 300
Ben, capital 80,000 80,000 80,000
Ben, Drawing 5,000 5,000 5,000
Service income 25,000 2,000 27,000 27,000
salaries 10,000 2,000 12,000 12,000
rent 1,000 2,000 3,000 3,000
interest 500 500 500
electricity 1,500 1,500 1,500
115,600 115,600
SSS premium payable 66 66 66
Medicare payable 12 12 12
Withholding taxes payable 14 14 14
Accrued salaries 1,908 1,908 1,908
interest income 300 300 300
Depreciation expense-furniture 55 55 55
Depreciation expense-equipment 278 278 278
Accumulated dep.-furniture 55 55 55
Accumulated dep.-equipment 278 278 278
Bad debts expense 80 80 80
Allowance for bad debts 80 80 80
6,713 6,713 120,013 120,013 17,413 27,300 102,600 92,713
Net income 9,887 9,887
27,300 27,300 102,600 102,600

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Cruz Tailoring Shop
Worksheet
For Year Ended December 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 18,600 18,600 18,600
Accounts receivable 8,000 2,000 10,000 10,000
Notes receivable 5,000 5,000 5,000
Prepaid rent 6,000 2,000 4,000 4,000
Furniture and fixtures 10,000 10,000 10,000
Equipment 50,000 50,000 50,000
Accounts payable 6,000 6,000 6,000
Notes payable 4,000 4,000 4,000
Unearned interest income 600 300 300 300
Cruz, capital 80,000 80,000 80,000
Cruz, Drawing 5,000 5,000 5,000
Service income 25,000 2,000 27,000 27,000
salaries 10,000 2,000 12,000 12,000
rent 1,000 2,000 3,000 3,000
interest 500 500 500
electricity 1,500 1,500 1,500
115,600 115,600
SSS premium payable 66 66 66
Medicare payable 12 12 12
Withholding taxes payable 14 14 14
Accrued salaries 1,908 1,908 1,908
interest income 300 300 300
Depreciation expense-furniture 55 55 55
Depreciation expense-equipment 278 278 278
Accumulated dep.-furniture 55 55 55
Accumulated dep.-equipment 278 278 278
Bad debts expense 80 80 80
Allowance for bad debts 80 80 80
6,713 6,713 120,013 120,013 17,413 27,300 102,600 92,713
9,887 9,887
27,300 27,300 102,600 102,600

10
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Ale trucking Services
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 325,000 325,000 325,000
Accounts receivable 105,000 105,000 105,000
Notes receivable 60,000 60,000 60,000
Prepaid insurance 15,000 1,250 13,750 13,750
Office supplies 30,000 25,000 5,000 5,000
Trucks 1,300,000 1,300,000 1,300,000
Accounts payable 50,000 50,000 50,000
Unearned rent 30,000 5,000 25,000 25,000
Ale, Capital 1,600,000 1,600,000 1,600,000
Ale, Drawing 25,000 25,000 25,000
Trucking revenue 375,000 375,000 375,000
Salaries expense 80,000 2,000 82,000 82,000
rent expense 70,000 70,000 70,000
Utilities expense 10,000 10,000 10,000
gas and oil 35,000 35,000 35,000
 2,055,000 2,055,000
insurance expense 1,250 1,250 1,250
office supplies expense 25,000 25,000 25,000
Depreciation expense - truck
Accumulated depreciation
Rent income 5,000 5,000 5,000
Interest receivable 500 500 500
Interest income 500 500 500
Salaries payable 2,000 2,000 2,000
33,750 33,750 2,057,500 2,057,500 223,250 380,500 1,834,250 1,677,000
Net income 157,250 157,250
380,500 380,500 1,834,250 1,834,250
11
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Imelda Services
Worksheet
For Year Ended May 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 8,000 8,000
Accounts receivable 16,500 16,500
Allowance for bad debts 2,000 2,000
Office supplies 600 600
Prepaid insurance 300 300
Furniture 10,000 10,000
Accumulated dep-furniture 3,000 3,000
Equipment 25,000 25,000
Accumulated dep-equipment 3,500 3,500
Accounts payable 5,000 5,000
Notes payable 9,000 9,000
Interest payable 200 200
Salaries payable 1,500 1,500
Imelda, Capital 29,600 29,600
Imelda, Drawing 500 500
Service income 32,000 32,000
Salaries 9,500 9,500
Supplies expense 4,000 4,000
Rent expense 5,000 5,000
Insurance expense 600 600
Depreciation exp.-furniture 2,000 2,000
Depreciation exp.-equipment 2,000 2,000
Bad debts expense 1,500 1,500
Interest expense 300 300
85,800 85,800 24,900 32,000 60,900 53,800
7,100 7,100
32,000 32,000 60,900 60,900
12
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Del Mundo Landscape Specialist
Worksheet
For Year Ended November 30, 2013
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 182,250 182,250 182,250
Accounts receivable 7,500 2,500 10,000 10,000
Supplies 1,000 500 500 500
Prepaid rent 21,000 7,000 14,000 14,000
Prepaid insurance 24,000 2,000 22,000 22,000
Vehicles 300,000 300,000 300,000
Accu. Dep.-vehicles 4,500 4,500 4,500
Equipment 54,000 54,000 54,000
Accu. Dep. - equipment 1,000 1,000 1,000
Notes payable 100,000 100,000 100,000
Accounts payable 1,000 1,000 1,000
Salaries payable 1,600 1,600 1,600
Interest Payable 1,400 1,400 1,400
Unearned revenues 13,500 2,250 11,250 11,250
Del mundo, capital 450,000 450,000 450,000
del mundo, drawing 5,000 5,000 5,000
Landscaping revenue 37,500 2,250
42,250 42,250
Lawn cutting revenue 2,500
Salaries expense 4,000 1,600 5,600 5,600
Supplies expense 500 500 500
rent expense 7,000 7,000 7,000
Insurance expense 2,000 2,000 2,000
Gas expense 1,500 1,500 1,500
Advertising expense 1,750 1,750 1,750
Dep. Expense - vehicle 4,500 4,500 4,500
dep. Expense - equipment 1,000 1,000 1,000
Interest expense 1,400 1,400 1,400
602,000 602,000 22,750 22,750 613,000 613,000 25,250 42,250 587,750 570,750
17,000 17,000
42,250 42,250 587,750 587,750
13
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

Fe Consultancy
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 280,000 280,000 280,000
Accounts receivable 85,600 85,600 85,600
Supplies 19,200 12,800 6,400 6,400
Furniture and fixtures 31,200 31,200 31,200
Accumulated depreciation 6,400 3,200 9,600 9,600
Accounts payable 88,800 88,800 88,800
Notes payable 18,800 18,800 18,800
Fe, capital 364,600 364,600 364,600
Fe, drawing 58,600 58,600 58,600
Consultancy fee 155,200 155,200 155,200
Insurance expense 78,400 78,400 78,400
Salaries expesne 50,400 50,400 50,400
Utilities expense 30,400 30,400 30,400
Total 633,800 633,800
Supplies expense 12,800 12,800 12,800
dep.Exp-fur&fixture 3,200 3,200 3,200
bad debts expense 5,600 5,600 5,600
allo. For bad debts 5,600 5,600 5,600
21,600 21,600 642,600 642,600 180,800 155,200 461,800 487,400
Net loss 25,600 25,600
180,800 180,800 487,400 487,400

14
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

K Trucking Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 350,000 350,000 350,000
Accounts receivable 107,000 107,000 107,000
Supplies 24,000 16,000 8,000 8,000
Office equipment 39,000 39,000 39,000
Accumulated depreciation 8,000 4,000 12,000 12,000
Accounts payable 111,000 111,000 111,000
Notes payable 235,000 235,000 235,000
K, capital 242,000 242,000 242,000
K, drawing 71,000 71,000 71,000
Delivery income 194,000 194,000 194,000
Rent expense 98,000 98,000 98,000
salaries expense 63,000 63,000 63,000
utilities expense 38,000 38,000 38,000
790,000 790,000
Supplies expense 16,000 16,000 16,000
Depreciation expense 4,000 4,000 4,000
bad debts expense 7,000 7,000 7,000
Allowance for bad debts 7,000 7,000 7,000
27,000 27,000 801,000 801,000 226,000 194,000 575,000 607,000
Net Loss 32,000 32,000
226,000 226,000 607,000 607,000

15
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Moon Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 150,000 150,000 150,000
Accounts Receivable 120,000 120,000 120,000
Supplies 7,500 7,500 7,500
Prepaid Insurance 15,000 8,000 7,000 7,000
Office Equipment 125,000 125,000 125,000
Accumulated depreciation- office equipme 5,000 10,000 15,000 15,000
Accounts Payable 55,500 55,500 55,500
Moon, Capital 273,000 273,000 273,000
Moon, Drawing 50,000 50,000 50,000
Service Income 198,000 198,000 198,000
Rent expense 30,000 30,000 30,000
Salaries expense 25,000 25,000 25,000
Utilities expense 9,000 9,000 9,000
Total 531,500 531,500

Insurance expense 8,000 8,000 8,000

Depreciation expense-office equipment 10,000 10,000 10,000
Bad debts expense 6,000 6,000 6,000
Allowance for bad debts 6,000 6,000 6,000
24,000 24,000 547,500 547,500 88,000 198,000 459,500 349,500
Net Income 110,000 110,000
198,000 198,000 459,500 459,500

16
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Imelda Services
Worksheet
For Year Ended May 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 10,000 10,000
Accounts receivable 16,500 16,500
Allowance for bad debts 2,000 2,000
Office supplies 600 600
Prepaid insurance 300 300
Furniture 10,000 10,000
Accumulated dep-furniture 3,000 3,000
Equipment 25,000 25,000
Accumulated dep-equipment 3,500 3,500
Accounts payable 5,000 5,000
Notes payable 9,000 9,000
Interest payable 200 200
Salaries payable 1,500 1,500
Imelda, Capital 29,600 29,600
Imelda, Drawing 500 500
Service income 34,000 34,000
Salaries 9,500 9,500
Supplies expense 4,000 4,000
Rent expense 5,000 5,000
Insurance expense 600 600
Depreciation exp.-furniture 2,000 2,000
Depreciation exp.-equipment 2,000 2,000
Bad debts expense 1,500 1,500
Interest expense 300 300
87,800 87,800 24,900 34,000 62,900 53,800
9,100 9,100
net income 34,000 34,000 62,900 62,900
17
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Davao Laundry Services
Worksheet
For Year Ended March 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
cash 743,000 743,000 743,000
Accounts receivable 35,000 35,000 35,000
Laundry Supplies 90,000 20,000 70,000 70,000
Laundry equuipment 150,000 150,000 150,000
Notes Payable 100,000 100,000 100,000
Accounts payable 30,000 30,000 30,000
S. Santos, Capital 850,000 850,000 850,000
S. Santos, Drawing 10,000 10,000 10,000
Laundry income 80,000 80,000 80,000
Salaries expense 10,000 10,000 10,000
Rent expense 5,000 5,000 5,000
Utilities expense 12,000 12,000 12,000
Taxes and licenses 4,000 4,000 4,000
Interest expense 1,000 1,000 1,000
1,060,000 1,060,000
Bad debts expesne 350 350 350
Allowance for bad debts 350 350 350
Laundry supplies expense 20,000 20,000 20,000
Depreciation expense-equipement 2,500 2,500 2,500
Accu. Depreciation-equipment 2,500 2,500 2,500
Advertising expense 3,000 3,000 3,000
Accrued Advertising 3,000 3,000 3,000
25,850 25,850 1,065,850 1,065,850 57,850 80,000 1,008,000 985,850
Net income 22,150 22,150
80,000 80,000 1,008,000 1,008,000
18

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Sure Repair Shop
Worksheet
For Year Ended December 31, 2017
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 900 900 900
Repair tools 1,200 1,200 1,200
Repair supplies 1,500 1,500 1,500
Truck 20,000 20,000 20,000
Furniture and fixtures 6,500 650 5,850 5,850
Accounts receivable 1,200 1,200 1,200
Notes payable 3,250 3,250 3,250
G. Alajar, Capital 25,200 25,200 25,200
G. Alajar, Drawing 750 750 750
Service Income 5,900 5,900 5,900
Advertising expense 250 50 200 200
Salary and wages 900 250 1,150 1,150
Utility expense 150 150 150
Rent expense 1,000 500 1,500 1,500
34,350 34,350
Repair Supplies Used 650 650 650
Depreciation exp-repair tools 120 120 120
Accu. Dep-repair tools 120 120 120
Depreciation exp-furniture & fixtures 433 433 433
Accu. Dep-furniture & fixtures 433 433 433
Depreciation exp-service truck 666 666 666
Accu. Dep-service truck 666 666 666
Interest expense 325 325 325
Accrued interest expense 325 325 325
Accrued Salaries & wages 250 250 250
accrued rent expense 500 500 500
prepaid advertising 50 50 50
2,994 2,994 36,644 36,644 5,194 5,900 31,450 30,744
Net Profit 706 706
5,900 5,900 31,450 31,450
19
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Dr. V Perez Medical Services
Worksheet
For Year Ended December 31, 2017
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 35,000 35,000
Accounts receivable 16,500 16,500
Allowance for bad debts 2,500 2,500
Prepaid insurance 5,500 5,500
Medical supplies 9,800 9,800
Prepaid rent 10,000 10,000
Medical equipment 180,000 180,000
Accu. Dep-medical equipment 18,000 18,000
Automobile 250,000 250,000
Accu. Dep.-automobile 30,000 30,000
Furniture and fixtures 120,000 120,000
Accu. Dep.-furniture and fixtures 8,000 8,000
Accounts payable 4,000 4,000
Dr. Perez, capital 500,000 500,000
Dr. Perez, drawing 10,000 10,000
Professional fee income 170,800 170,800
Attendant's salary 30,000 30,000
Rent expense 27,000 27,000
Utility expense 12,000 12,000
car drivers wages 15,000 15,000
repair and maintenance 5,000 5,000
gas and oil 5,000 5,000
taxes and licenses 2,500 2,500
733,300 733,300 96,500 170,800 636,800 562,500
Net income 74,300 74,300
170,800 170,800 636,800 636,800
20

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Atty. P Rodriguez Consultacy Firm
Worksheet
For Year Ended December 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 30,000 30,000
Accounts receivable 12,000 12,000
Office furniture 105,000 105,000
Office equipment 170,000 170,000
Legal library 156,000 156,000
Loans payable 100,000 100,000
Notes payable 10,000 10,000
Atty. P Rodriguez, capital 256,900 256,900
Atty. P Rodriguez, drawing 15,000 15,000
Professional fee 210,000 210,000
Staff salaries 36,000 36,000
rent expense 29,400 29,400
taxes and licenses 3,500 3,500
utilities expense 9,800 9,800
supplies expense 10,200 10,200
576,900 576,900 88,900 210,000 488,000 366,900
Net income 121,100 121,100
210,000 210,000 488,000 488,000
21

256,900
121000
377,900
15000
362,900

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
M. Monroe trucking service
Worksheet
For Year Ended December 31, 2017
Account title Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
cash 1,250 1,250 1,250
accounts receivable 750 750 750
allowance for bad debts 75 75 150 150
prepaid rent 550 200 350 350
prepaid insurance 450 300 150 150
office supplies 250 200 50 50
office equipment 2,700 2,700 2,700
accu. Dep.-office equipment 170 100 270 270
delivery equipment 20,500 20,500 20,500
accu. Dep.-delivery equipment 2,050 2,050 4,100 4,100
accounts payable 500 500 500
notes payable 750 750 750
salaries and wages payable 450 100 550 550
unearned trucking services fee 1,070 300 770 770
m. monroe, capital 17,045 17,045 17,045
m. monroe, drawing 1,800 1,800 1,800
trcuking service income 15,350 300 15,650 15,650
rent expense 650 200 850 850
office salaries expense 2,540 2,540 2,540
truck driver's wages 5,200 5,200 5,200
gas, oil, and repair 820 820 820
37,460 37,460
telephone expense 500 500 500
office supplies used 200 200 200
depreciation expense - delivery equipment 2,050 2,050 2,050
depreciation expense - office equipment 100 100 100
insurance expense 300 300 300
bad debts expense 75 75 75
salaries and wages 100 100 100
utilities expense payable 500 500 500
3,825 3,825 40,285 40,285 12,735 15,650 27,550 24,635
Net income 2,915 2,915
15,650 15,650 27,550 27,550
22
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Danao Laundry Services
Worksheet
For Year Ended March 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
cash 740,000 740,000 740,000
Accounts receivable 35,000 35,000 35,000
Laundry Supplies 90,000 20,000 70,000 70,000
Laundry equuipment 150,000 150,000 150,000
Notes Payable 100,000 100,000 100,000
Accounts payable 30,000 30,000 30,000
Sy, Capital 850,000 850,000 850,000
Sy, Drawing 10,000 10,000 10,000
Laundry income 77,000 77,000 77,000
Salaries expense 10,000 10,000 10,000
Rent expense 5,000 5,000 5,000
Utilities expense 12,000 12,000 12,000
Taxes and licenses 4,000 4,000 4,000
Interest expense 1,000 1,000 1,000
1,057,000 1,057,000
Bad debts expesne 350 350 350
Allowance for bad debts 350 350 350
Laundry supplies expense 20,000 20,000 20,000
Depreciation expense-equipement 2,500 2,500 2,500
Accu. Depreciation-equipment 2,500 2,500 2,500
Advertising expense 3,000 3,000 3,000
Accrued Advertising 3,000 3,000 3,000
25,850 25,850 1,062,850 1,062,850 57,850 77,000 1,005,000 985,850
Net income 19,150 19,150
77,000 77,000 1,005,000 1,005,000
23

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Dana Repair Shop
Worksheet
For Year Ended December 31, 2017
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 1,000 1,000 1,000
Repair tools 1,200 1,200 1,200
Repair supplies 1,500 1,500 1,500
Truck 20,000 20,000 20,000
Furniture and fixtures 6,500 650 5,850 5,850
Accounts receivable 1,200 1,200 1,200
Notes payable 3,250 3,250 3,250
Dana, Capital 25,200 25,200 25,200
Dana, Drawing 750 750 750
Service Income 6,000 6,000 6,000
Advertising expense 250 50 200 200
Salary and wages 900 250 1,150 1,150
Utility expense 150 150 150
Rent expense 1,000 500 1,500 1,500
34,450 34,450
Repair Supplies Used 650 650 650
Depreciation exp-repair tools 120 120 120
Accu. Dep-repair tools 120 120 120
Depreciation exp-furniture & fixtures 433 433 433
Accu. Dep-furniture & fixtures 433 433 433
Depreciation exp-service truck 666 666 666
Accu. Dep-service truck 666 666 666
Interest expense 325 325 325
Accrued interest expense 325 325 325
Accrued Salaries & wages 250 250 250
accrued rent expense 500 500 500
prepaid advertising 50 50 50
2,994 2,994 36,744 36,744 5,194 6,000 31,550 30,744
Net Profit 806 806
6,000 6,000 31,550 31,550
24
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Danao Clinic
Worksheet
For Year Ended December 31, 2017
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
 Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 40,000 40,000
Accounts receivable 16,500 16,500
Allowance for bad debts 2,500 2,500
Prepaid insurance 5,500 5,500
Medical supplies 9,800 9,800
Prepaid rent 10,000 10,000
Medical equipment 180,000 180,000
Accu. Dep-medical equipment 18,000 18,000
Automobile 250,000 250,000
Accu. Dep.-automobile 30,000 30,000
Furniture and fixtures 120,000 120,000
Accu. Dep.-furniture and fixtures 8,000 8,000
Accounts payable 4,000 4,000
Choi, capital 500,000 500,000
Choi, drawing 10,000 10,000
Professional fee income 175,800 175,800
Attendant's salary 30,000 30,000
Rent expense 27,000 27,000
Utility expense 12,000 12,000
car drivers wages 15,000 15,000
repair and maintenance 5,000 5,000
gas and oil 5,000 5,000
taxes and licenses 2,500 2,500
738,300 738,300 96,500 175,800 641,800 562,500
Net income 79,300 79,300
175,800 175,800 641,800 641,800
25

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Pita Consultacy Firm
Worksheet
For Year Ended December 31, 2016
 Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 20,000 20,000
Accounts receivable 12,000 12,000
Office furniture 105,000 105,000
Office equipment 170,000 170,000
Legal library 156,000 156,000
Loans payable 100,000 100,000
Notes payable 10,000 10,000
Pita, capital 256,900 256,900
Pita, drawing 15,000 15,000
Professional fee 200,000 200,000
Staff salaries 36,000 36,000
rent expense 29,400 29,400
taxes and licenses 3,500 3,500
utilities expense 9,800 9,800
supplies expense 10,200 10,200
566,900 566,900 88,900 200,000 478,000 366,900
Net income 111,100 111,100
200,000 200,000 478,000 478,000
26

256,900
111,100
15,000 368,000 353,000

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Dy trucking service
Worksheet
For Year Ended December 31, 2017
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
 Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
cash 1,500 1,500 1,500
accounts receivable 750 750 750
allowance for bad debts 75 75 150 150
prepaid rent 550 200 350 350
prepaid insurance 450 300 150 150
office supplies 250 200 50 50
office equipment 2,700 2,700 2,700
accu. Dep.-office equipment 170 100 270 270
delivery equipment 20,500 20,500 20,500
accu. Dep.-delivery equipment 2,050 2,050 4,100 4,100
accounts payable 500 500 500
notes payable 750 750 750
salaries and wages payable 450 100 550 550
unearned trucking services fee 1,070 1,070 1,070
Dy, capital 17,045 17,045 18,110
Dy, drawing 1,800 1,800 1,800
trcuking service income 15,600 15,600 15,600
rent expense 650 200 850 850
office salaries expense 2,540 2,540 2,540
truck driver's wages 5,200 5,200 5,200
gas, oil, and repair 820 820 820
37,710 37,710
telephone expense 500 500 500
office supplies used 200 200 200
depreciation expense - delivery equipment 2,050 2,050 2,050
depreciation expense - office equipment 100 100 100
insurance expense 300 300 300
bad debts expense 75 75 75
salaries and wages 100 100 100
utilities expense payable 500 500 500
3,525 3,525 40,535 40,535 12,735 15,600 27,800 26,000
Net income 2,865 1,800
15,600 15,600 27,800 27,800
27
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
 Pita Consultacy Firm
Worksheet
For Year Ended December 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 20,000 20,000
Accounts receivable 12,000 12,000
Office furniture 105,000 105,000
Office equipment 170,000 170,000
Legal library 156,000 156,000
Loans payable 100,000 100,000
Notes payable 10,000 10,000
Pita, capital 256,900 256,900
Pita, drawing 15,000 15,000
Professional fee 200,000 200,000
Staff salaries 36,000 36,000
rent expense 29,400 29,400
taxes and licenses 3,500 3,500
utilities expense 9,800 9,800
supplies expense 10,200 10,200
566,900 566,900 88,900 200,000 478,000 366,900
Net income 111,100 111,100
200,000 200,000 478,000 478,000
28

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Changes in Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
MAC Consultacy Firm
Worksheet
For Year Ended December 31, 2016
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 50,000 50,000
Accounts receivable 12,000 12,000
Office furniture 105,000 105,000
Office equipment 170,000 170,000
Legal library 156,000 156,000
Loans payable 100,000 100,000
Notes payable 10,000 10,000
Mac, capital 256,900 256,900
Mac, drawing 15,000 15,000
Professional fee 230,000 230,000
Staff salaries 36,000 36,000
rent expense 29,400 29,400
taxes and licenses 3,500 3,500
utilities expense 9,800 9,800
supplies expense 10,200 10,200
596,900 596,900 88,900 230,000 508,000 366,900
Net income 141,100 141,100
230,000 230,000 508,000 508,000
29

Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
San Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 100,000 100,000 100,000
Accounts Receivable 120,000 120,000 120,000
Supplies 7,500 7,500 7,500
Prepaid Insurance 15,000 8,000 7,000 7,000
Office Equipment 125,000 125,000 125,000
Accumulated depreciation- office equipme 5,000 10,000 15,000 15,000
Accounts Payable 55,500 55,500 55,500
San, Capital 273,000 273,000 283,000
San, Drawing 50,000 50,000 50,000
Service Income 148,000 148,000 148,000
Rent expense 30,000 30,000 30,000
Salaries expense 25,000 25,000 25,000
Utilities expense 9,000 9,000 9,000
Total 481,500 481,500

Insurance expense 8,000 8,000 8,000

Depreciation expense-office equipment 10,000 10,000 10,000
Bad debts expense 6,000 6,000 6,000
Allowance for bad debts 6,000 6,000 6,000
24,000 24,000 497,500 497,500 88,000 148,000 409,500 359,500
Net Income 60,000 50,000
148,000 148,000 409,500 409,500

30
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Del trucking Services
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 300,000 300,000 300,000
Accounts receivable 105,000 105,000 105,000
Notes receivable 60,000 60,000 60,000
Prepaid insurance 15,000 1,250 13,750 13,750
Office supplies 30,000 25,000 5,000 5,000
Trucks 1,300,000 1,300,000 1,300,000
Accounts payable 50,000 50,000 50,000
Unearned rent 30,000 5,000 25,000 25,000
Del, Capital 1,600,000 1,600,000 1,600,000
Del, Drawing 25,000 25,000 25,000
Trucking revenue 350,000 350,000 350,000
Salaries expense 80,000 2,000 82,000 82,000
rent expense 70,000 70,000 70,000
Utilities expense 10,000 10,000 10,000
gas and oil 35,000 35,000 35,000
2,030,000 2,030,000
insurance expense 1,250 1,250 1,250
office supplies expense 25,000 25,000 25,000
Depreciation expense - truck
Accumulated depreciation
Rent income 5,000 5,000 5,000
Interest receivable 500 500 500
Interest income 500 500 500
Salaries payable 2,000 2,000 2,000
33,750 33,750 2,032,500 2,032,500 223,250 355,500 1,809,250 1,677,000
Net income 132,250 132,250
355,500 355,500 1,809,250 1,809,250
31
Name: Yr. & Section: Date:
Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

Toto Consultancy
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 280,000 280,000 280,000
Accounts receivable 85,600 85,600 85,600
Supplies 19,200 12,800 6,400 6,400
Furniture and fixtures 31,200 31,200 31,200
Accumulated depreciation 6,400 3,200 9,600 9,600
Accounts payable 88,800 88,800 88,800
Notes payable 18,800 18,800 18,800
Toto, capital 364,600 364,600 364,600
Toto, drawing 58,600 58,600 58,600
Consultancy fee 148,000 148,000 148,000
Insurance expense 78,400 78,400 78,400
Salaries expesne 50,400 50,400 50,400
Utilities expense 23,200 23,200 23,200
Total 626,600 626,600
Supplies expense 12,800 12,800 12,800
dep.Exp-fur&fixture 3,200 3,200 3,200
bad debts expense 5,600 5,600 5,600
allo. For bad debts 5,600 5,600 5,600
21,600 21,600 635,400 635,400 173,600 148,000 461,800 487,400
Net loss 25,600 25,600
173,600 173,600 487,400 487,400

32
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.

Park Trucking Services

Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 350,000 350,000 350,000
Accounts receivable 107,000 107,000 107,000
Supplies 24,000 16,000 8,000 8,000
Office equipment 39,000 39,000 39,000
Accumulated depreciation 8,000 4,000 12,000 12,000
Accounts payable 111,000 111,000 111,000
Notes payable 235,000 235,000 235,000
Park, capital 242,000 242,000 242,000
Park drawing 71,000 71,000 71,000
Delivery income 185,000 185,000 185,000
Rent expense 98,000 98,000 98,000
salaries expense 63,000 63,000 63,000
utilities expense 29,000 29,000 29,000
781,000 781,000
Supplies expense 16,000 16,000 16,000
Depreciation expense 4,000 4,000 4,000
bad debts expense 7,000 7,000 7,000
Allowance for bad debts 7,000 7,000 7,000
27,000 27,000 792,000 792,000 217,000 185,000 575,000 607,000
Net Loss 32,000 32,000
217,000 217,000 607,000 607,000
 33
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Lee Services
Worksheet
For Year Ended September 30, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 130,000 130,000 130,000
Accounts Receivable 120,000 120,000 120,000
Supplies 7,000 7,000 7,000
Prepaid Insurance 15,000 8,000 7,000 7,000
Office Equipment 125,000 125,000 125,000
Accumulated depreciation- office equipme 5,000 10,000 15,000 15,000
Accounts Payable 55,000 55,000 55,000
Lee, Capital 273,000 273,000 313,000
Lee, Drawing 50,000 50,000 50,000
Service Income 178,000 178,000 178,000
Rent expense 30,000 30,000 30,000
Salaries expense 25,000 25,000 25,000
Utilities expense 9,000 9,000 9,000
Total 511,000 511,000

Insurance expense 8,000 8,000 8,000

Depreciation expense-office equipment 10,000 10,000 10,000
Bad debts expense 6,000 6,000 6,000
Allowance for bad debts 6,000 6,000 6,000
24,000 24,000 527,000 527,000 88,000 178,000 439,000 389,000
Net Income 90,000 50,000
178,000 178,000 439,000 439,000
 34
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
New Reapir Shop
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 45,000 45,000 45,000
Accounts receivable 59,000 59,000 59,000
Prepaid rent 78,000 28,000 50,000 50,000
Equipment 127,000 127,000 127,000
Accumulated depreciation - equipment 25,000 25,000 50,000 50,000
Accounts Payable 66,000 66,000 66,000
Usui, Capital 100,000 100,000 162,000
Usui, Drawing 50,000 50,000 50,000
Repair Income 315,000 315,000 315,000
Rent Expense 75,000 28,000 103,000 103,000
Salaries expense 45,000 45,000 45,000
Utilities expense 27,000 27,000 27,000
Total 511,000 511,000

Depreciation expense - equipment 25,000 25,000 25,000

Bad debts expense 3,000 3,000 3,000
Allowance for bad debts 3,000 3,000 3,000
56,000 56,000 539,000 539,000 203,000 315,000 331,000 281,000
Net Income 112,000 50,000
315,000 315,000 331,000 331,000
 35
Name: Yr. & Section: Date:

Requirements:
1. Prepare the financial statements: Balance Sheet, Income Statement & Statement of Owner's Equity.
2. Prepare the necessary closing journal entries.
3. Prepare the Post Closing Trial Balance.
Kou Services
Worksheet
For Year Ended December 31, 2015
Trial Balance Adjustments Adjusted trial balance Income statement Balance sheet
Account title
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 200,000 200,000 200,000
Accounts receivable 96,000 96,000 96,000
Supplies 13,000 9,000 4,000 4,000
Prepaid insurance 28,000 14,000 14,000 14,000
Accounts payable 90,000 90,000 90,000
Notes payable 124,000 124,000 124,000
kou, capital 131,000 131,000 131,000
kou, drawing 60,000 60,000 60,000
Delivery income 204,000 204,000 204,000
Rent expense 84,000 84,000 84,000
salaries expense 50,000 16,900 66,900 66,900
utilities expense 18,000 18,000 18,000
549,000 549,000
Supplies expense 9,000 9,000 9,000
Insurance expense 14,000 14,000 14,000
Salaries payable 16,900 16,900 16,900
39,900 39,900 565,900 565,900 191,900 204,000 374,000 361,900
Net income 12,100 12,100
204,000 204,000 374,000 374,000
36
410,400
5,600
9,600
395,200

107,600

287,600
58,600
18,400
210,600

318,200
 359,000
107,000
7,000 100,000
8,000
39,000
12,000 27,000
494,000

111,000
235,000
346,000

148,000
71,000
77,000
23,000 54,000
400,000
388,000

55,000

333,000

388,000
362,000

230,900

131,200

362,100
 238,400
125,600
20,400
27,200
106,200 (79,000)
Asset 305,400
28,000
136,000
5,000
169,000

193,600
32,000
25,200 136,400
Liability and owners equity 305,400
290,400

174,320

116,080
48,000
59,280
127,360

301,680
 18,600
10,000
80 9,920
5,000
4,000
10,000
55 9,945
50,000
278 49,722
97,187

6,000
4,000
300
2,000
12,300
75,000
9,887
84,887

97,187
 27,000
300

84887
1,809,250

77,000

1,600,000
25,000
157,250
1,732,250

1,809,250
 182,250
10,000
500
14,000
22,000
300,000
4,500 295,500
54,000
1,000 53,000
577,250
100,000
1,000
1,600
1,400
 11,250
115,250
450,000
5,000 445,000

17,000 462,000

577,250

42,250
25,250 17,000

280,000
85,600
5,600 80,000
6,400
31,200
9,600 21,600
388,000

88,800
18,800
107,600

364,600
58,600 306,000

25,600 280,400
 388,000 155,200
78,400
50,400
30,400

12,800
3,200
5,600 180,800

Net loss 25,600

504,000
7,000
497,000

600,000
 71,000
32,000
497,000

388,500

55,500

333,000
388,500

62,400
2,000
3,000
3,500
53,900

15,700
 29,600
500
9,100
38,200

53,900

998,000
350
2,500
995,150

133,000
850,000
10,000
22,150
862,150

995,150
 30,000
12,000
105,000
170,000
 156,000
473,000

100,000
10,000
110,000

256,900
15,000 241,900
121,100
363,000
473,000
992,150

133,000

859,150
992,150
Balance Sheet Income statement
Current Asset
Cash 40,000 Professional fee income 175,800
Accounts receivable 16,500 Less:
Less: Allowance for bad debts 2,500 14,000 Attendant's salary 30,000
Prepaid insurance 5,500 Rent expense 27,000
Medical supplies 9,800 Utility expense 12,000
Prepaid rent 10,000 car drivers wages 15,000
Total current 79,300 repair and maintenance 5,000
 Non current gas and oil 5,000
Medical equipment 180,000 taxes and licenses 2,500 96,500
Less: accumulated dep - medical eq 18,000 162,000 Net income 79,300

automobile 250,000 220,000

less: accumulated dep -automobile 30,000

Furniture and fixtures 120,000 112,000

less: accumulated dep - furniture & f 8,000
total non current 494,000

Total assets 573,300 balance

Accounts payable 4,000

Total liability

Choi, capital 500,000

Less: choi, drawing 10,000 490,000
subtotal 490,000
Add: net income 79,300
Total owner's equity 569,300

Total liability and owner's equity 573,300 balance

 20,000
12,000
105,000
170,000
156,000
463,000

100,000
10,000
110,000

256,900
15,000 241,900
111,100
353,000

463,000
21,480

3,370

18,110
21,480
493,000

110,000

256,900
15,000
141,100
383,000

493,000
 100,000 55,500 233,000
338,500 114,000 60000
7,500
55,500 7,000
110,000
283,000 338,500 348,500
338,500
1,600,000
132,250
1,732,250
1,707,250
388,000

107,600

280,400
388,000
242,000
71,000
171,000
32,000
203,000
228,000

66,000

162,000
228,000
 Closing Journal Entry
Page no. 3
Ong,
Date Account Title & Explanation PR Debit Credit
Date
2014
Sept. 30 Painting revenue 400 350,000 1-Sep
Income summary 302 350,000 30-Sep
To close revenue account 30-Sep

30 Income summary 302 - Ong, D

Salaries expense 500
Date
Utilities expense 501
Bad debts expense 506 23-Sep
Depreciation expense - transportation 505 30-Sep
Art Supplies expense 502
Rent expense 503 Income
Insurance expense 504
Date
To close expenses accounts
30-Sep
30 Income summary 302 350,000 30-Sep
Ong, Capital 300 350,000 30-Sep
To close income summary account
Go back to posting - to
30 Ong, Capital 300 30,000 close the the revenue,
expenses, income
Ong, drawing 301 30,000 summary and drawing
To close drawing to capital accounts
730,000 730,000
 Ong, Capital Acct. no.: 300
Balances Niko Ong Art Gallery
Explanation J.R Debit Credit
Debit Credit Statement of Changes in Owner's Equ
Investment J-1 131,000 131,000 For Month Ended September 30, 20
Close inco J-3 12,100 143,100
close drawi J-3 60,000 83,100 Ong, Capital
Add: Net Income
Ong, Drawing Acct. no.: 301 Sub-total
Balances Less: Ong, Drawing
Explanation J.R Debit Credit
Debit Credit Total Owner's Equity
Investment J-1 30,000 30,000
close drawi J-3 - 0
net loss
Income Summary Acct. no.: 302
Balances Niko Ong Art Gallery
Explanation J.R Debit Credit
Debit Credit Statement of Changes in Owner's Equ
close reven J-3 175,800 175,800 For Month Ended September 30, 20
close expen J-3 96,500 79,300
close inco J-3 79,300 0 Ong, Capital
Add: Net Income
o back to posting - to Sub-total
ose the the revenue, Less: Ong, Drawing
expenses, income
ummary and drawing Total Owner's Equity
accounts
 Niko Ong Art Gallery
ent of Changes in Owner's Equity
onth Ended September 30, 2014

500,000
79,300
579,300
10,000
569,300

Niko Ong Art Gallery

ent of Changes in Owner's Equity
onth Ended September 30, 2014

193,600
25,200
168,400
32,000
136,400