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Prepared By: Ben Gonzales

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Leigh Powers

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Work Sheet

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For Six Months Ended June 30, 20X2

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AccountAdjusted BalanceAdjusted Trial BalanceIncome StatementBalance Sheet

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DebitCreditDebitCreditDebitCredit

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Accounts Payable16,650.0016,650.0016,650.00

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Accounts Receivable10,000.0010,000.0010,000.00

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Accumaled Depreciation - Automobiles13,500.0013,500.0013,500.00

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Accumaled Depreciation - Office Equipment4,500.004,500.004,500.00

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Automobiles35,000.0035,000.0035,000.00

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Auto Supplies2,575.002,575.002,575.00

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Auto Supplies Expense1,620.001,620.001,620.00

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Cash12,750.0012,750.0012,750.00

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Depreciation Expense - Automobiles6,200.006,200.006,200.00

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Depreciation Expense - Office Equipment1,200.001,200.001,200.00

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Fees Earned153,000.00153,000.00153,000.00

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Insurance Expense3,200.003,200.003,200.00

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Office Equipment15,000.0015,000.0015,000.00

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Office Supplies8,500.008,500.008,500.00

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Office Supplies Expense9,210.009,210.009,210.00

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Leigh Powers, Capital60,580.0060,580.0060,580.00

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Leigh Powers, Drawing26,000.0026,000.0026,000.00

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Prepaid Insurance9,600.009,600.009,600.00

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Rent Expense4,800.004,800.004,800.00

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Repairs Expense575.00575.00575.00

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Salaries Payable2,000.002,000.002,000.00

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Salaries Expense104,000.00104,000.00104,000.00

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500,460.00252,230.00248,230.00130,805.00153,000.00119,425.0097,230.00

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Net Income=============================================22,195.0022,195.00

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153,000.00153,000.00119,425.00119,425.00

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Leigh Powers

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Income Statement

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For Six Months Ended June 30, 20X2

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Revenue:

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Fees Earned153,000.00

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Expenses:

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Auto Supplies Expense1,620.00

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Depreciation Expense - Automobiles6,200.00

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Depreciation Expense - Office Equipment1,200.00

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Insurance Expense3,200.00

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Office Supplies Expense9,210.00

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Rent Expense4,800.00

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Repairs Expense575.00

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Salaries Expense104,000.00

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. Total expenses130,805.00

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Net Income22,195.00

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Leigh Powers

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Statement of Owner's Equity

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For Six Months Ended June 30, 20X2

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Capital, January 1, 20X260,580.00

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Net Income for period22,195.00

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Less withdrawals26,000.00

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Decrease in capital3,805.00

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Capital, June 30, 20X256,775.00

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Leigh Powers

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Balance Sheet

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For Six Months Ended June 30, 20X2

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. Assets

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Cash12,750.00

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Accounts Receivable10,000.00

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Automobiles35,000.00

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. Less: Accumulated Depreciation13,500.0021,500.00

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Office Equipment15,000.00

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. Less: Accumulated Depreciation4,500.0010,500.00

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Office Supplies8,500.00

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Prepaid Insurance9,600.00

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Auto Supplies2,575.00

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. Total Assets75,425.00

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. Liabilities

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Accounts Payable16,650.00

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Salaries Payable2,000.00

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. Total Liabilities18,650.00

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. Owner's Equity

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Leigh Powers, capital56,775.00

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. Total liabilities and owner's equity75,425.00

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