Case Study: Income Statement

	B	C	D	F	G	I	J
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2		Trial Balance		Adjustments		Adjusted Trial Balance
3	Accounts	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
4	Cash	63,000				63,000
5	Accounts Receivable	10,000				10,000
6	Supplies	5,000			2,500	2,500
7	Prepaid Insurance	12,000			6,000	6,000
8	Buildings	500,000				500,000
9	Land	50,000				50,000
10	Accumulated Depreciation - Buildings				15,000		15,000
11	Accounts Payable		5,000		25,000		30,000
12	Unearned Revenue				10,000		10,000
13	Notes Payable		300,000				300,000
14	Retained earnings, 1/1/22		200,000				200,000
15	Owner's Drawing	10,000				10,000
16	Revenue		600,000	10,000			590,000
17	Salaries Expense	325,000		25,000		350,000
18	Repairs Expense	50,000				50,000
19	Advertising Expense	10,000				10,000
20	Rent Expense	50,000				50,000
21	Interest Expense	20,000				20,000
22	Depreciation Expense - Buildings			15,000		15,000
23	Insurance Expense			6,000		6,000
24	Supplies Expense			2,500		2,500
25	Totals	1,105,000	1,105,000	58,500	58,500	1,145,000	1,145,000
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