Sady's Solutions General Journal For the quarter ended December 30, 2003 Date a. b.

Account title & Details Adjusting Entries Supplies expense Suupplies Depreciation expense:furn. Accumulate Depreciation: furn. Depreciation expense: Equip Accumulate Depreciation : Equip Interest expense Interest payable Insurance expense Prepaid insurance Uneraned revenue Service revenue Salaries expense Salaries payable Sady's Solutions General Ledger For the quarter ended December 30, 2003 Date Details 2003 Cash A/c 1-Dec Opening Balance Accounts receivable A/c 1-Dec Opening Balance Supplies A/c 1-Dec Opening Balance Supplies expense Supplies expense a/c Supplies Income summary Prepaid Insurance A/c Opening balance Insurance expense Insurance expense A/c Debit 14,200.00 Credit Balance 14,200.00 Debit 700.00 700.00 300.00 300.00 375.00 375.00 800.00 800.00 220.00 220.00 700.00 700.00 500.00 500.00 Credit

c. d. e. f.

4,400.00

4,400.00

1,400.00 700.00

1,400.00 700.00

a 30-Dec

700.00 700.00

700.00 -

1-Dec d

1,300.00 220.00

1,300.00 1,080.00

Prepaid insurance Income summary Equipment A/c Opening balance Furniture A/c Opening balance Investmrnt A/c Opening Balance Notes Payable A/c Opening Balance Accounts payable A/c Opening Balance Unearned revenue A/c Opening balance Service revenue Service revenue A/c Opening balance Unearned revenue Common stock A/c Opening balance Dividends A/c Opening balance Retained earnings Salaries expense A/c Opening balance Salaries payable Income summary Salaries payable A/c Salaries expense Miscellaneous expense A/c Opening balance Income summary Travel expense A/c

220.00 220.00

220.00 -

1-Dec

30,000.00

30,000.00

1-Dec

8,000.00

8,000.00

1-Dec

15,000.00

15,000.00

1-Dec

40,000.00

40,000.00

1-Dec

2,400.00

2,400.00

1-Dec e

1,600.00 700.00

1,600.00 900.00

1-Dec e

15,800.00 700.00

15,800.00 16,500.00

1-Dec

20,000.00

20,000.00

1-Dec

1,200.00 1,200.00

1,200.00 -

1-Dec f 30-Dec

2,300.00 500.00 2,800.00

2,300.00 2,800.00 -

500.00

500.00

1-Dec 30-Dec

450.00 450.00

450.00 -

1-Dec 30-Dec

Opening balance Income summary Rent expense A/c Opening balance Income summary Depreciation expense A/c: Furn. Accumulated depreciation: Furni Income summary Accumulated depreciation A/c :Furn Depreciation expense: Furn Depreciation expense A/c: Equip Accumulated depreciation: Equip Income summary Accumulated depreciation A/c: Equip Depreciation expense: Equip Interest expense A/c Interest payable Income summary Interest payable A/c Interest expense Retained earnings A/c Income summary Dividends Income summary A/c Service revenue Supplies expense Insurance expense Salaries expense Miscellaneous expense Travel expense rent expense Depreciation Exp: Furniture Depreciation Exp: Equipment Interest expense Retained earnings

550.00 550.00

550.00 -

1-Dec 30-Dec

1,000.00 1,000.00

1,000.00 -

b 30-Dec

300.00 300.00

300.00 -

300.00

300.00

375.00 375.00

375.00 -

375.00

375.00

c.

800.00 800.00

800.00 -

800.00

800.00

30-Dec 30-Dec

9,305.00 1,200.00

9,305.00 8,105.00

30-Dec 30-Dec

16,500.00 700.00 220.00 2,800.00 450.00 550.00 1,000.00 300.00 375.00 800.00 9,305.00

16,500.00

9,305.00 -

Adjusted trial balnce Account titles Cash Accounts receivable Supplies Supplies expense Prepaid insurance Insurance expense Equipment Furniture Investment Notes payable Accounts payable Uneraned revenue Service revenue Common stock Dividends Salaries expense Salaries payable Miscellaneous expense Travel expense Rent expense Depreciation expense: Furn Accumlated depreciation :fur Depreciation expense: Equip Accumulated depreciation :Equip Interest expense Interest payable Total

Debit Credit 14,200.00 4,400.00 700.00 700.00 1,080.00 220.00 30,000.00 8,000.00 15,000.00 40,000.00 2,400.00 900.00 16,500.00 20,000.00 1,200.00 2,800.00 500.00 450.00 550.00 1,000.00 300.00 300.00 375.00 375.00 800.00 800 81,775.00 81,775.00

mber 30, 2003

Sady's Solutions Income Statement For the quarter ended December 30, 2003 Revenues: Servcie revenue Less expenses: Supplies Insurance Salaries Miscellaneous Travel Rent Depreciation expense: Furn Depreciation expense Equip Interest Total expenses Net income Retained earnings Statement Retained earnings Sept 30, 2003 Add net income Less dividends Retained earnings Dec 30, 2003 16,500.00

700.00 220.00 2,800.00 450.00 550.00 1,000.00 300.00 375.00 800.00 7,195.00 9,305.00

9,305.00 9,305.00 1,200.00 8,105.00

Balance Sheet Assets Current assest: Cash Accounts receivable Supplies Prepaid insurance Total current assets Long term investment: Investment in Homez Dev Group Property Plant & Equipment Equipment Less accumulated depreciation Furniture

14,200.00 4,400.00 700.00 1,080.00 20,380.00

15,000.00

30000 375 8000

29,625.00

lessaccumulated depreciation Total property , plant & equipment Total assest Liabilities & Stockholders equity Current liabilities: Notes payable (Due, first quartr 2004) Accounts payable Uneraned revenue Salaries payable Interest payable Total current liabilities Long term liabilities Notes payable ( Due in excess of a year) Stockholders equity Common Stock Retained earnings Total stockholders equity Total liabilities & stockholders equity

300

7,700.00 37,325.00 72,705.00

5,000.00 2,400.00 900.00 500.00 800.00 9,600.00

35,000.00

20,000.00 8,105.00 28,105.00 72,705.00

Date

General Journal Account titles & Details 2003 Closing entries 30-Dec Service revenue Income summary To close off revenues for the quarter Income summary Supplies expense Insurance Salaries Miscellaneous Travel Rent Depreciation:Fur Depreciation: Equip Interest To close off expenses for the period Income summary Retained earnings To close off net income to retained earnings Retained earnings Dividends

Debit 16,500.00

Credit

16,500.00 7,195.00 700.00 220.00 2,800.00 450.00 550.00 1,000.00 300.00 375.00 800.00 9,305.00 9,305.00 1,200.00 1,200.00

To close off dividents to Retained earnings

Post Closing Trial Balance Account titles Cash Accounts receivable Supplies Prepaid insurance Equipment Furniture Investment Notes payable Accounts payable Uneraned revenue Common stock salaries payable Accumulated depreciation:Fur Accumulatedepreciation: Equip Interest payable Retained earnings Total

Debit Credit 14,200.00 4,400.00 700.00 1,080.00 30,000.00 8,000.00 15,000.00 40,000.00 2,400.00 900.00 20,000.00 500.00 300.00 375.00 800.00 8,105.00 73,380.00 73,380.00