ACCT # ACCT TITLE

Cash
Accounts Receivable
Inventory
Supplies
Prepaid Rent
Furnitures & Fixtures
Accumulated Depreciation
Accounts Payable
Salaries Payable
Interest Payable
Unearned Sales Revenue
Notes Payable - Long Term
BA Jambula Capital
BA Jambula Withdrawals
Sales Revenue
Sales Discounts
Sales Returns & Allowances
Cost of Goods Sold
Salaries Expense
Rent Expense
Depreciation Expense
Utilities Expense
Supplies Expense
Interest Expense
 Unadjusted Trial Balance
Acct # Account Title Debit Credit
Cash 5,670.00
Accounts Receivable 37,100.00
Inventory 60,500.00
Supplies 3,930.00
Prepaid Rent 6,000.00
Furnitures & Fixtures 26,500.00
Accumulated Depreciation 21,200.00
Accounts Payable 46,340.00
Salaries Payable
Interest Payable
Unearned Sales Revenue 3,500.00
Notes Payable - Long Term 35,000.00
BA Jambula Capital 23,680.00
BA Jambula Withdrawals 48,000.00
Sales Revenue 346,700.00
Sales Discounts 10,300.00
Sales Returns & Allowances 8,200.00
Cost of Goods Sold 171,770.00
Salaries Expense 82,750.00
Rent Expense 7,000.00
Depreciation Expense
Utilities Expense 5,800.00
Supplies Expense
Interest Expense 2,900.00

Net Income

Total Checkings 476,420.00 476,420.00

 Adjustments Adjusted Trial Balance Income Statement
Debit Credit Debit Credit Debit
5,670.00
37,100.00
5,300.00 65,800.00
2,580.00 1,350.00
5,000.00 1,000.00
26,500.00
2,650.00 23,850.00
46,340.00
1,300.00 1,300.00
600.00 600.00
1,100.00 2,400.00
35,000.00
23,680.00
48,000.00
1,100.00 347,800.00
10,300.00 10,300.00
8,200.00 8,200.00
5,300.00 166,470.00 166,470.00
1,300.00 84,050.00 84,050.00
5,000.00 12,000.00 12,000.00
2,650.00 2,650.00 2,650.00
5,800.00 5,800.00
2,580.00 2,580.00 2,580.00
600.00 3,500.00 3,500.00

18,530.00 18,530.00 480,970.00 480,970.00 295,550.00

Income Statement Statement in Owner's Equity Balance Sheet
Credit Debit Credit Debit Credit
5,670.00
37,100.00
65,800.00
1,350.00
1,000.00
26,500.00
-23,850.00
46,340.00
1,300.00
600.00
2,400.00
35,000.00
23,680.00 27,930.00
48,000.00
347,800.00

52,250.00 52,250.00

347,800.00 48,000.00 23,680.00 113,570.00 113,570.00

 BA Jambula Distributing Company
Trial Balance
Account Title Debit Credit
Cash 5,670.00
Accounts Receivable 37,100.00
Inventory 60,500.00
Supplies 3,930.00
Prepaid Rent 6,000.00
Furnitures & Fixtures 26,500.00
Accumulated Depreciation 21,200.00
Accounts Payable 46,340.00
Salaries Payable
Interest Payable
Unearned Sales Revenue 3,500.00
Notes Payable - Long Term 35,000.00
BA Jambula Capital 23,680.00
BA Jambula Withdrawals 48,000.00
Sales Revenue 346,700.00
Sales Discounts 10,300.00
Sales Returns & Allowances 8,200.00
Cost of Goods Sold 171,770.00
Salaries Expense 82,750.00
Rent Expense 7,000.00
Depreciation Expense
Utilities Expense 5,800.00
Supplies Expense
Interest Expense 2,900.00

Total 476,420.00 476,420.00

 General Journal
(Adjusting Entries)
Date No. Description Ref # Debit Credit
12/31/18 1 Supplies Expense 2,580.00
Supplies 2,580.00
-To adjust & record Supplies Expense

12/31/18 2 Rent Expense 5,000.00

Prepaid Rent 5,000.00
-To adjust & record Rent Expense

12/31/18 3 Unearned Sales Revenue 1,100.00

Sales Revenue 1,100.00
-To adjust & record Collection of Revenue

12/31/18 4 Depreciation Expense 2,650.00

Accumulated Depreciation 2,650.00
-To adjust & record Depreciation Expense

12/31/18 5 Salaries Payable 1,300.00

Salaries Expense 1,300.00
-To adjust & record Accrued Salaries

12/31/18 6 Interest Payable 600.00

Interest Expense 600.00
-To adjust & record Accrued Interest

12/31/18 7 Cost of Goods Sold 60,500.00

Beginning Inventory 60,500.00
-To adjust COGS to correct amount

(Closing Entries)

12/31/18 8 Income Summary 361,350.00

Sales Discounts 10,300.00
Sales Returns & Allowances 8,200.00
Cost of Goods Sold 232,270.00
Salaries Expense 84,050.00
Rent Expense 12,000.00
Depreciation Expense 2,650.00
Utilities Expense 5,800.00
Supplies Expense 2,580.00
Interest Expense 3,500.00
-To close all the Expense accounts to Income Summary
12/31/18 9 Sales Revenue 347,800.00
Ending Inventory 65,800.00
Income Summary 413,600.00
-to close all the Income accounts to Income Summary

12/31/18 10 Retained Earnings 52,250.00

Income Summary 52,250.00
-to close Net Income to Retained Earnings
Acct Title Cash Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 5,670.00 5,670.00

Total 5,670.00
Acct Title Accounts Receivable Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 37,100.00 37,100.00

Total 37,100.00
Acct Title Inventory Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 60,500.00 60,500.00
12/31/18 -To adjust COGS to correct amount 60,500.00
-to close all the Income accounts to Income Summary 65,800.00 65,800.00

Total 65,800.00
Running Balance
Credit
Acct Title Supplies Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 3,930.00 3,930.00
12/31/18 -To adjust & record Supplies Expense 2,580.00 1,350.00

Total 1,350.00
Acct Title Prepaid Rent Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 6,000.00 6,000.00
12/31/18 -To adjust & record Rent Expense 5,000.00 1,000.00

Total 1,000.00
Acct Title Furnitures & Fixtures Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 26,500.00 26,500.00

Total 26,500.00
Acct Title Accumulated Depreciation Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 21,200.00 21,200.00
12/31/18 -To adjust & record Depreciation Expense 2,650.00 23,850.00

Total 23,850.00
Acct Title Accounts Payable Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 46,340.00 46,340.00

Total 46,340.00
Acct Title Salaries Payable Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance
-To adjust & record Accrued Salaries 1,300.00 1,300.00

Total 1,300.00
Acct Title Interest Payable Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance
-To adjust & record Accrued Interest 600.00 600.00

Total 600.00
Acct Title Unearned Sales Revenue Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 3,500.00 3,500.00
-To adjust & record Collection of Revenue 1,100.00 2,400.00

Total 2,400.00
Acct Title Notes Payable - Long Term Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 35,000.00 35,000.00

Total 35,000.00
Acct Title BA Jambula Capital Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 23,680.00 23,680.00

Total 23,680.00
Acct Title BA Jambula Withdrawals Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 Beginning Balance 48,000.00 48,000.00

Total 48,000.00
Acct Title Sales Revenue Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 346,700.00
-To adjust & record Collection of Revenue 1,100.00
-to close all the Income accounts to Income Summary 347,800.00

Total
Running Balance
Credit
346,700.00
347,800.00
Acct Title Sales Discounts Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 10,300.00 10,300.00
-To close all the Expense accounts to Income Summary 10,300.00

Total
Running Balance
Credit
Acct Title Sales Returns & Allowances Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 8,200.00 8,200.00
-To close all the Expense accounts to Income Summary 8,200.00

Total
Running Balance
Credit
Acct Title Cost of Goods Sold Acct #.
Date Description Ref # Debit Credit
12/31/18 Beginning Balance 171,770.00
-To adjust COGS to correct amount 60,500.00
-To close all the Expense accounts to Income Summary 232,270.00

Total
 Running Balance
Debit Credit
171,770.00
232,270.00
Acct Title Salaries Expense Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 82,750.00 82,750.00
12/31/18 -To adjust & record Accrued Salaries 1,300.00 84,050.00
-To close all the Expense accounts to Income Summary 84,050.00

Total
Running Balance
Credit
Acct Title Rent Expense Acct #.
Date Description Ref # Debit Credit
12/31/18 Beginning Balance 7,000.00
-To adjust & record Rent Expense 5,000.00
-To close all the Expense accounts to Income Summary 12,000.00

Total
 Running Balance
Debit Credit
7,000.00
12,000.00
Acct Title Depreciation Expense Acct #.
Date Description Ref # Debit Credit
12/31/18 Beginning Balance
-To adjust & record Depreciation Expense 2,650.00
-To close all the Expense accounts to Income Summary 2,650.00

Total
 Running Balance
Debit Credit

2,650.00
Acct Title Utilities Expense Acct #.
Date Description Ref # Debit Credit
12/31/18 Beginning Balance 5,800.00
-To close all the Expense accounts to Income Summary 5,800.00

Total
 Running Balance
Debit Credit
5,800.00
Acct Title Supplies Expense Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance
12/31/18 -To adjust & record Supplies Expense 2,580.00 2,580.00
-To close all the Expense accounts to Income Summary 2,580.00

Total
Running Balance
Credit
Acct Title Interest Expense Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 Beginning Balance 2,900.00 2,900.00
-To adjust & record Accrued Interest 600.00 3,500.00
-To close all the Expense accounts to Income Summary 3,500.00

Total
Running Balance
Credit
Acct Title Income Summary Acct #. Running Balance
Date Description Ref # Debit Credit Debit
12/31/18 -To close all the Expense accounts to Income Summary 361,350.00 361,350.00
-to close all the Income accounts to Income Summary 413,600.00
-to close Net Income to Retained Earnings 52,250.00

Total
Running Balance
Credit

52,250.00
Acct Title Retained Earnings Acct #. Running Balance
Date Description Ref # Debit Credit Debit Credit
12/31/18 -to close Net Income to Retained Earnings 52,250.00 52,250.00

Total 52,250.00
 BA Jambula Distributing Company
Income Statement
Year Ended December 31, 2018

Revenues
Sales Revenue 347800.00
Less:
Cost of Goods Sold (171770.00)
Beginning Inventory (60500.00)
Add:
Ending Inventory 65800.00 166470.00
Gross Profit: 181330.00

Expenses
Sales Discounts 10300.00
Sales Returns & Allowances 8200.00
Salaries Expense 84050.00
Rent Expense 12000.00
Depreciation Expense 2650.00
Utilities Expense 5800.00
Supplies Expense 2580.00
Interest Expense 3500.00
Total Expense 129080.00

Net Income 52250.00

 BA Jambula Distributing Company
Statement of Changes in Owner's Equity
Year Ended December 31, 2018

BA Jambula Capital 23680.00

Less:
BA Jambula Withdrawals (48000.00)
Add:
Net income 52250.00
Total Capital 27930.00
 BA Jambula Distributing Company
Balance Sheet
Year Ended December 31, 2018

Current Assets
Cash 5,670.00
Accounts Receivable 37,100.00
Inventory 65,800.00
Supplies 1,350.00
Prepaid Rent 1,000.00
Less:
Accumulated Depreciation -23,850.00
Non-Current Asset
Furnitures & Fixtures 26,500.00
Total Assets 113,570.00

Current Liabilities
Accounts Payable 46,340.00
Salaries Payable 1,300.00
Interest Payable 600.00
Unearned Sales Revenue 2,400.00
Non-Current Liabilities
Notes Payable - Long Term 35,000.00
Total Liabilities 85,640.00

Capital
Total Capital as of December 31, 2018 27,930.00 27,930.00

Total Liabilities & Capital 113,570.00