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| Baldy's Barber Shop |
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Baldy's Barber Shop |
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| Work Sheet |
|
Income Statement |
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| For Year Ended December 31, xxxx |
|
For
the Period Jan 1, xxxx thru Dec 31, xxxx |
|
| Account |
Unadjusted
Trial Balance |
Adjustments |
Adjusted
Trial Balance |
Income Statement |
Balance
Sheet & Statement of Owner's Equity |
|
Revenues: |
|
|
| Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
|
Sales |
|
$
- |
|
| Cash In
Bank |
- |
|
|
|
- |
|
|
|
- |
|
|
Operating expenses: |
|
|
| Cash
Over/Short |
- |
|
|
|
- |
|
|
|
- |
|
|
Barber Supplies |
|
- |
|
| Petty
Cash |
- |
|
|
|
- |
|
|
|
- |
|
|
Janitorial & Cleaning Services |
|
- |
|
| Deposits |
- |
|
|
|
- |
|
|
|
- |
|
|
Towel & Linen Cleaning |
|
- |
|
| Prepaid
Advertising |
- |
|
|
|
- |
|
|
|
- |
|
|
Uniform Rental |
|
- |
|
| Prepaid
Insurance |
- |
|
|
208 |
(208) |
|
|
|
(208) |
|
|
Building Rent |
|
- |
|
| Barber
Equipment |
- |
|
|
|
- |
|
|
|
- |
|
|
Building Maintenance |
|
- |
|
| Furniture
& Fixtures |
- |
|
|
|
- |
|
|
|
- |
|
|
Utilities |
|
- |
|
| Office
Equipment |
- |
|
|
|
- |
|
|
|
- |
|
|
Advertising |
|
- |
|
| Accum
Deprec-Barber Equipment |
|
- |
|
39 |
|
39 |
|
|
|
39 |
|
Promotions & Special Events |
|
- |
|
| Accum
Deprec-Furniture & Fixtures |
|
|
|
20 |
|
20 |
|
|
|
20 |
|
Magazines & Newspapers |
|
- |
|
| Accum
Deprec-Office Equipment |
|
|
|
25 |
|
25 |
|
|
|
25 |
|
Coffee Supplies |
|
- |
|
| Accounts
Payable |
|
- |
|
|
|
- |
|
|
|
|
|
Office Supplies |
|
- |
|
| Notes Payable-Short Term |
|
|
|
2,083 |
|
2,083 |
|
|
|
2,083 |
|
Postage |
|
- |
|
| Notes
Payable-Long Term |
|
|
2000 |
|
|
(2,000) |
|
|
|
(2,000) |
|
Telephone |
|
- |
|
| Owners
Equity |
|
- |
|
|
|
- |
|
|
|
- |
|
Insurance |
|
208 |
|
| Sales |
|
- |
|
|
|
- |
|
- |
|
|
|
Entertainment |
|
- |
|
| Barber
Supplies |
|
|
|
|
- |
|
- |
|
|
|
|
Professional Fees |
|
- |
|
| Janitorial
& Cleaning Services |
|
|
|
|
- |
|
- |
|
|
|
|
Fees,Licenses,Permits |
|
- |
|
| Towel
& Linen Cleaning |
|
|
|
|
- |
|
- |
|
|
|
|
Wi-Fi Internet |
|
- |
|
| Uniform
Rental |
|
|
|
|
- |
|
- |
|
|
|
|
Donations |
|
- |
|
| Building
Rent |
|
|
|
|
- |
|
- |
|
|
|
|
Depreciation |
|
84 |
|
| Building
Maintenance |
|
|
|
|
- |
|
- |
|
|
|
|
Interest |
|
83 |
|
| Utilities |
|
|
|
|
- |
|
- |
|
|
|
|
Total operating expenses |
|
375 |
|
| Advertising |
|
|
|
|
- |
|
- |
|
|
|
|
Net Profit / Loss |
|
|
|
|
| Promotions
& Special Events |
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
| Magazines
& Newspapers |
|
|
|
|
- |
|
- |
|
|
|
|
|
|
| Coffee
Supplies |
|
|
|
|
- |
|
- |
|
|
|
|
Baldy's Barber Shop |
|
|
|
| Office
Supplies |
|
|
|
|
- |
|
- |
|
|
|
|
Statement of Owner's Equity |
|
|
|
| Postage |
|
|
|
|
- |
|
- |
|
|
|
|
For
the Period Jan 1, xxxx thru Dec 31, xxxx |
|
| Telephone |
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
| Insurance |
|
|
208 |
|
208 |
|
208 |
|
|
|
|
Owners Equity |
$
- |
|
|
| Entertainment |
|
|
|
|
- |
|
- |
|
|
|
|
Less: Withdrawals by owner |
- |
|
|
| Professional
Fees |
|
|
|
|
- |
|
- |
|
|
|
|
Net Profit / Loss |
(375) |
|
|
| Fees,Licenses,Permits |
|
|
|
|
- |
|
- |
|
|
|
|
Owners Equity |
|
$ (375) |
|
| Wi-Fi
Internet |
|
|
|
|
- |
|
- |
|
|
|
|
|
|
| Donations |
|
|
|
|
- |
|
- |
|
|
|
|
|
|
| Depreciation |
|
|
84 |
|
84 |
|
84 |
|
|
|
|
Baldy's Barber
Shop |
|
|
| Owners
Draws |
|
|
|
|
- |
|
|
|
- |
|
|
Balance
Sheet |
|
|
| Interest |
|
|
83 |
|
83 |
|
83 |
|
|
|
|
December 31,
xxxx |
|
|
| Profit/Loss |
|
|
|
|
- |
|
|
375 |
375 |
|
|
Assets |
|
|
|
|
|
Current
Assets: |
|
|
|
|
|
Cash In Bank |
- |
|
|
| Totals |
- |
- |
2,375 |
2,375 |
167 |
167 |
375 |
375 |
167 |
167 |
|
Cash
Over/Short |
- |
|
|
|
Petty Cash |
- |
|
|
|
Deposits |
- |
- |
|
| December
Adjusting Entries Prepared by Dave Marshall Bean
Counter |
|
Prepaid
Advertising |
- |
|
|
| 12/31/xxxx |
|
AJE # |
|
Prepaid
Insurance |
(208) |
|
|
|
Total current
assets |
|
(208) |
|
|
|
|
$ (208) |
|
| Insurance |
|
AJE1 |
208 |
|
|
|
|
|
| Prepaid Insurance |
|
AJE1 |
|
208 |
|
|
|
Capital
Assets: |
|
|
| Record December Insurance Expense |
|
|
|
Barber
Equipment |
- |
|
|
|
|
|
|
|
Accum
Deprec-Barber Equipment |
39 |
(39) |
|
|
|
|
|
|
|
Furniture &
Fixtures |
- |
|
|
| Interest |
|
AJE2 |
83 |
|
|
Accum
Deprec-Furniture & Fixtures |
20 |
(20) |
|
| Note Payable-Short Term |
|
AJE2 |
|
83 |
|
Office
Equipment |
- |
|
|
| Record December Interest Expense for
Note |
|
|
|
Accum
Deprec-Office Equipment |
25 |
(25) |
|
|
|
|
Total capital
assets |
|
(84) |
|
|
|
|
|
|
Total assets |
|
($292) |
|
| Note Payable - Long Term |
|
AJE3 |
2000 |
|
|
|
|
| Note Payable- Short Term |
|
AJE3 |
|
2000 |
|
Liabilities and
Owner's Equity |
|
|
|
| Classify Bank Note into Short Term |
|
|
|
|
Current
Liabilities: |
|
|
| and Long Term Portion |
|
|
|
|
|
|
|
|
|
|
Accounts
Payable |
- |
|
|
|
|
|
|
Notes
Payable-Short Term |
2,083 |
|
|
| Depreciation |
|
AJE4 |
84 |
|
|
Total current
liabilities |
|
2,083 |
|
| Accumulated Depreciation-Barber
Equipment |
AJE4 |
|
39 |
|
Long-term
Liabilities: |
|
|
| Accumulated Depreciation-Office
Equipment |
AJE4 |
|
25 |
|
Notes
Payable-Long Term |
|
(2,000) |
|
| Accumulated
Depreciation-Furniture |
AJE4 |
|
20 |
|
Total
liabilities |
|
83 |
|
| & Fixtures |
|
|
|
|
Owner's
Equity: |
|
|
| Record Depreciation Expense for
December |
|
Owners
Equity |
|
(375) |
|
|
Total liabilities
and owner's equity |
|
($292) |
|
|
|
|
|
|
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