Worksheet 1
| REEVE'S FORKLIFT SERVICE | ||||||||||
| WORKSHEET | ||||||||||
| For Month Ended December 31, 2020 | ||||||||||
| Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||
| Account Name | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit | Debit | Credit |
| Cash | 396.00 | 396.00 | 396.00 | |||||||
| Accounts Receivable | 284.00 | 284.00 | 284.00 | |||||||
| Prepaid Rent | 400.00 | 150.00 | 250.00 | 250.00 | ||||||
| Supplles | 310.00 | 250.00 | 60.00 | 60.00 | ||||||
| Forklift Equipment | 1,000.00 | 1,000.00 | 1,000.00 | |||||||
| Accumulated Depr. Equip. | 200.00 | 200.00 | 400.00 | 400.00 | ||||||
| Accounts Payable | 346.00 | 346.00 | 346.00 | |||||||
| R. J. Reeve, Capital | 456.00 | 456.00 | 456.00 | |||||||
| Forklift Revenue | 4,680.00 | 4,680.00 | 4,680.00 | |||||||
| Utility Expense | 632.00 | 632.00 | 632.00 | |||||||
| Advertising Expense | 1,200.00 | 1,200.00 | 1,200.00 | |||||||
| Wage Expense | 1,460.00 | 115.00 | 1,575.00 | 1,575.00 | ||||||
| 5,682.00 | 5,682.00 | |||||||||
| Supplies Expense | 250.00 | 250.00 | 250.00 | |||||||
| Wages Payable | 115.00 | 115.00 | 115.00 | |||||||
| Rent Expense | 150.00 | 150.00 | 150.00 | |||||||
| Depreciation Expense | 200.00 | 200.00 | 200.00 | |||||||
| Total | 715.00 | 715.00 | 5,997.00 | 5,997.00 | 4,007.00 | 4,680.00 | 1,990.00 | 1,317.00 | ||
| Net Income | 673.00 | 673.00 | ||||||||
| 4,680.00 | 4,680.00 | 1,990.00 | 1,990.00 | |||||||
Closing Entries
| General Journal | Page _______ | 1 | |||||||||||||||||
| Date | Description | Post Ref | Debit | Credit | |||||||||||||||
| Closing Entries | |||||||||||||||||||
| Dec | 31 | Forklift Revenue | 4 | 6 | 8 | 0 | 00 | ||||||||||||
| Income Summary | 4 | 6 | 8 | 0 | 00 | ||||||||||||||
| Dec | 31 | Income Summary | 4 | 0 | 0 | 7 | 00 | ||||||||||||
| Wages Expense | 1 | 5 | 7 | 5 | 00 | ||||||||||||||
| Rent Expense | 1 | 5 | 0 | 00 | |||||||||||||||
| Advertising Expense | 1 | 2 | 0 | 0 | 00 | ||||||||||||||
| Utilities Expense | 6 | 3 | 2 | 00 | |||||||||||||||
| Supplies Expense | 2 | 5 | 0 | 00 | |||||||||||||||
| Depreciation Expense | 2 | 0 | 0 | 00 | |||||||||||||||
| Dec | 31 | Income Summary | 6 | 7 | 3 | 00 | |||||||||||||
| R.J. Reeve, Capital | 6 | 7 | 3 | 00 | |||||||||||||||