The following accounts are provided by Winston Service Shop fot he period ending December 31, 201
Cash in Bank 100,000.00
Accounts Receivable 185,000.00
Petty Cash Fund 15,000.00
Supplies on Hand 6,000.00
Office Equipment 90,000.00
Accumulated Depreciation 18,000.00
Repair Equipment 200,000.00
Accumulated Depreciation 40,000.00
Accounts Payable 120,000.00
Notes Payable 80,000.00
Accrued Interest on Notes 2,000.00
Salaries Payable 10,000.00
Utilities Payable 3,000.00
Allowance for Doubtful Accounts 30,000.00
Capital, Winston 115,000.00
Drawing,Winston 20,000.00
Service Income 380,000.00
Interest Expense 2,000.00
Depreciation Expense 29,000.00
Salaries Expense 80,000.00
Utilities Expense 40,000.00
Supplies Expense 12,000.00
Bad Debts 19,000.00
iod ending December 31, 2016
Adjusted Trial Balance Income Statement
Cash in Bank 100,000.00
Accounts Receivable 185,000.00
Petty Cash Fund 15,000.00
Supplies on Hand 6,000.00
Office Equipment 90,000.00
Accumulated Depreciation 18,000.00
Repair Equipment 200,000.00
Accumulated Depreciation 40,000.00
Accounts Payable 120,000.00
Notes Payable 80,000.00
Accrued Interest on Notes 2,000.00
Salaries Payable 10,000.00
Utilities Payable 3,000.00
Allowance for Doubtful Accounts 30,000.00
Capital, Winston 115,000.00
Drawing,Winston 20,000.00
Service Income 380,000.00
Interest Expense 2,000.00 2,000.00
Depreciation Expense 29,000.00 29,000.00
Salaries Expense 80,000.00 80,000.00
Utilities Expense 40,000.00 40,000.00
Supplies Expense 12,000.00 12,000.00
Bad Debts 19,000.00 19,000.00
798,000.00 798,000.00 182,000.00
Net In ome 198,000.00
380,000.00
Income Statement Balance Sheet
100,000.00
185,000.00
15,000.00
6,000.00
90,000.00
18,000.00
200,000.00
40,000.00
120,000.00
80,000.00
2,000.00
10,000.00
3,000.00
30,000.00
115,000.00
20,000.00
380,000.00
380,000.00 616,000.00 418,000.00
198,000.00
380,000.00 616,000.00 616,000.00
Winston Services Shop
Statement of Comprehensive Income
For the year ended, December 31, 2016
Revenue
Service Income 380,000.00
Less: Expenses
Operating Expense
Depreciation Expense 29,000.00
Salaries Expense 80,000.00
Utilities Expense 40,000.00
Supplies Expense 12,000.00
Bad Debts 19,000.00
Total Operating Expense 180,000.00
Finance Charges
Interest Expense 2,000.00
Total Finance Charges 2,000.00
Total Expenses 182,000.00
Net Income Before Tax 198,000.00
Winston Services Shop
Statement of Financial Position
6 As of December 31, 2016
ASSET
Current Assets
Cash in Bank
Petty Cash Fund
Supplies on Hand
Accounts Receivable
Allowance for Doubtful Accounts
Total Current Asset
Non-Current Assets
Repair Equipment
less: Accumulated Depreciation
Office Equipment
less: Accumulated Depreciation
Total Non-Current Assets
Total Assets
Liabilities
Accounts Payable
Notes Payable
Accrued Interest on Notes
Salaries Payable
Utilities Payable
Total Liabilities
Owner's Equity
Capital, Winston
Drawing,Winston
Add: Net Income
Total Liabilities and Owner's Equity
Winston Services Shop Winst
ement of Financial Position Statement of C
As of December 31, 2016 For the year E
Capital, Winston,January 1
100,000.00 less: Drawings, Winston
15,000.00 Total
6,000.00 Add: Net Income
185,000.00 Capital, Mr. Winston,December 31
(30,000.00)
276,000.00
200,000.00
(40,000.00)
90,000.00
(18,000.00)
232,000.00
tal Assets 508,000.00
120,000.00
80,000.00
2,000.00
10,000.00
3,000.00
215,000.00
115,000.00
(20,000.00)
95,000.00
198,000.00
293,000.00
ner's Equity 508,000.00
Winston Services Shop
Statement of Changes in Owner's Equity
For the year Ended,December 31, 2016
115,000.00
(20,000.00)
95,000.00
198,000.00
ecember 31 293,000.00