Physical stock take as at 31 December 2014 showed an inventory value of $7,000.
b. Credit sales of $500 were omitted while preparing the unadjusted trial balance.

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Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet
Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 61,094.04 - - - 61,094.04 - - -
Accounts Receivable 1,090.00 - 5,750.00 - 6,840.00 - - -
Prepaid Insurance 5,976.00 - - 249.00 5,727.00 - - -
Prepaid Rent 4,800.00 - - 1,600.00 3,200.00 - - -
Office Supplies 655.00 - - 385.00 270.00 - - -
Office Equip. 2,089.00 - - - 2,089.00 - - -
Accum. Depr.-Office Equip. - - - 20.70 - 20.70 - -
Computer Equip. 236,430.00 - - - 236,430.00 - - -
Accum. Depr.-Computer Equip. - - - 3,940.50 - 3,940.50 - -
Building Cost 100,000.00 - - - 100,000.00 - - -
Accum. Depr.-Building - - - 242.06 - 242.06 - -
Land 19,000.00 - - - 19,000.00 - - -
Accounts Payable - 1,670.00 - - - 1,670.00 - -
Advanced Payments - - - - - - - -
Interest Payable - - - 1,551.14 - 1,551.14 - -
Salaries Payable - - - 606.00 - 606.00 - -
Income Taxes Payable - - - 2,331.40 - 2,331.40 - -
Mortgage Payable - 107,100.00 - - - 107,100.00 - -
Notes Payable - 116,500.00 - - - 116,500.00 - -
Capital Stock - 194,994.00 - - - 194,994.00 - -
Retained Earnings - - - - - - - -
Dividends 1,299.96 - - - 1,299.96 - - -
- -
Computer & Consulting Revenue - 16,845.00 - 5,750.00 - 22,595.00 - 22,595.00
Rent Expense - - 1,600.00 - 1,600.00 - 1,600.00 -
Salary Expense 2,020.00 - 606.00 - 2,626.00 - 2,626.00 -
Advertising Expense 350.00 - - - 350.00 - 350.00 -
Repairs & Maint. Expense 1,290.00 - - - 1,290.00 - 1,290.00 -
Oil & Gas Expense 1,015.00 - - - 1,015.00 - 1,015.00 -
Supplies Expense - - 385.00 - 385.00 - 385.00 -
Interest Expense - - 1,551.14 - 1,551.14 - 1,551.14 -
Insurance Expense - - 249.00 - 249.00 - 249.00 -
Depreciation Expense - - 4,203.26 - 4,203.26 - 4,203.00 -
Income Tax Expense - - 2,331.40 - 2,331.40 - 2,331.40 -





TOTAL 437,109.00 437,109.00 16,675.80 16,675.80 451,550.80 451,550.80 15,600.54 22,595.00
NET INCOME -


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