Accounts Title LP

Cash 1110
Consulting fees receivable 1120
Prepaid office rent 1130
Prepaid dues and subscriptions 1140
Supplies 1150
Equipment 1210
Accumulated depreciation: equipment 1211
Notes payable 2110
Income taxes payable 2120
Unearned consulting fees 2130
Capital stock 3110
Retained earnings 3120
Dividends 3130
Consulting fees earned 4110
Salaries expense 5110
Telephone expense 5120
Rent expense 5130
Income taxes expense 5140
Dues and subscriptions expense 5150
Supplies expense 5160
Depreciation expense: equipment 5170
Miscellaneous expenses 5180
Intrest Expense 5190
Intrest Payable 2140
Salaries Payable 2150
$ 10,200
 23,400

300

5,950

560

6,600
 6,300

5,000
12,000

30,000
32,700

257,180
88,820
2,550
22,000
51,000

1,600
 $ 49,100

600
36,000

60,000
type Entries

LP Titles (empty)
1110 Cash
1120 Consulting fees receivable
1130 Prepaid office rent
1140 Prepaid dues and subscriptions
1150 Supplies
1210 Equipment
1211 Accumulated depreciation: equipment
2110 Notes payable
2120 Income taxes payable
2130 Unearned consulting fees
3110 Capital stock
3120 Retained earnings
3130 Dividends
4110 Consulting fees earned
5110 Salaries expense
5120 Telephone expense
5130 Rent expense
5140 Income taxes expense
5150 Dues and subscriptions expense
5160 Supplies expense
5170 Depreciation expense: equipment
5180 Miscellaneous expenses
Total Result
Date Titles LP Debit Credit type
30-Dec Cash 1110 49,100 Entries
30-Dec Consulting fees receivable 1120 23,400 Entries
30-Dec Prepaid office rent 1130 6,300 Entries
30-Dec Prepaid dues and subscriptions 1140 300 Entries
30-Dec Supplies 1150 600 Entries
30-Dec Equipment 1210 36,000 Entries
30-Dec Accumulated depreciation: equipment 1211 10,200 Entries
30-Dec Notes payable 2110 5,000 Entries
30-Dec Income taxes payable 2120 12,000 Entries
30-Dec Unearned consulting fees 2130 5,950 Entries
30-Dec Capital stock 3110 30,000 Entries
30-Dec Retained earnings 3120 32,700 Entries
30-Dec Dividends 3130 60,000 Entries
30-Dec Consulting fees earned 4110 257,180 Entries
30-Dec Salaries expense 5110 88,820 Entries
30-Dec Telephone expense 5120 2,550 Entries
30-Dec Rent expense 5130 22,000 Entries
30-Dec Income taxes expense 5140 51,000 Entries
30-Dec Dues and subscriptions expense 5150 560 Entries
30-Dec Supplies expense 5160 1,600 Entries
30-Dec Depreciation expense: equipment 5170 6,600 Entries
30-Dec Miscellaneous expenses 5180 4,200 Entries
31-Dec Rent expense 5130 2,100 adjusting
30-Dec Prepaid office rent 1130 2,100 adjusting
30-Dec Dues and subscriptions expense 5150 50 adjusting
30-Dec Prepaid dues and subscriptions 1140 50 adjusting
30-Dec Supplies expense 5160 150 adjusting
30-Dec Supplies 1150 150 adjusting
30-Dec Depreciation expense: equipment 5170 600 adjusting
30-Dec Accumulated depreciation: equipment 1211 600 adjusting
30-Dec Intrest Expense 5190 100 adjusting
30-Dec Intrest Payable 2140 100 adjusting
30-Dec Unearned consulting fees 2130 2,850 adjusting
30-Dec Consulting fees earned 4110 2,850 adjusting
30-Dec Consulting fees receivable 1120 11,000 adjusting
30-Dec Consulting fees earned 4110 11,000 adjusting
30-Dec Salaries expense 5110 1,700 adjusting
30-Dec Salaries Payable 2150 1,700 adjusting
30-Dec Income taxes expense 5140 5,000 adjusting
30-Dec Income taxes payable 2120 5,000 adjusting
31-Dec Consulting fees earned 4110 271,030 Closing
31-Dec Retained earnings 3120 271,030 Closing
31-Dec Retained earnings 3120 187,030 Closing
31-Dec Salaries expense 5110 90,520 Closing
31-Dec Telephone expense 5120 2,550 Closing
31-Dec Rent expense 5130 24,100 Closing
31-Dec Income taxes expense 5140 56,000 Closing
31-Dec Dues and subscriptions expense 5150 610 Closing
31-Dec Supplies expense 5160 1750 Closing
31-Dec Depreciation expense: equipment 5170 7,200 Closing
31-Dec Miscellaneous expenses 5180 4,200 Closing
31-Dec Intrest Expense 5190 100 Closing

5-Jan Telephone expense 5120 1000

5-Jan Cash 1110 1000
10-Jan Supplies expense 5160 100
10-Jan Supplies 1150 1000
 Trail balance
LP Titles Sum of DR Sum of Cr
1110 Cash 49100 0
1120 Consulting fees receivable 23400 0
1130 Prepaid office rent 6300 0
1140 Prepaid dues and subscriptions 300 0
1150 Supplies 600 0
1210 Equipment 36000 0
1211 Accumulated depreciation: equipment 0 10200
2110 Notes payable 0 5000
2120 Income taxes payable 0 12000
2130 Unearned consulting fees 0 5950
3110 Capital stock 0 30000
3120 Retained earnings 0 32700
3130 Dividends 60000 0
4110 Consulting fees earned 0 257180
5110 Salaries expense 88820 0
5120 Telephone expense 2550 0
5130 Rent expense 22000 0
5140 Income taxes expense 51000 0
5150 Dues and subscriptions expense 560 0
5160 Supplies expense 1600 0
5170 Depreciation expense: equipment 6600 0
5180 Miscellaneous expenses 4200 0
Titles LP Debit Credit
Cash 1110 49100
Consulting fees receivable 1120 34400
Prepaid office rent 1130 4200
Prepaid dues and subscriptions 1140 250
Supplies 1150 450
Equipment 1210 36000
Accumulated depreciation: equipment 1211 10800
Notes payable 2110 5000
Income taxes payable 2120 17000
Unearned consulting fees 2130 3100
Intrest Payable 2140 100
Salaries Payable 2150 1700
Capital stock 3110 30000
Retained earnings 3120 32700
Dividends 3130 60000
Consulting fees earned 4110 271030
Salaries expense 5110 90520
Telephone expense 5120 2550
Rent expense 5130 24100
Income taxes expense 5140 56000
Dues and subscriptions expense 5150 610
Supplies expense 5160 1750
Depreciation expense: equipment 5170 7200
Miscellaneous expenses 5180 4200
Intrest Expense 5190 100
Grand Total 371430 371430
Income Statement Dec-31

Consulting fees earned 4110

Salaries expense 5110
Telephone expense 5120
Rent expense 5130
Income taxes expense 5140
Dues and subscriptions expense 5150
Supplies expense 5160
Depreciation expense: equipment 5170
Miscellaneous expenses 5180
Intrest Expense 5190
profit
 271,030
90,520
2,550
24,100
56,000
610
1,750
7,200
4,200
100
84,000
 After closing Trail Balance
LP Titles Sum of DR Sum of Cr
1/14/1903 Cash 49100 0
1/24/1903 Consulting fees receivable 34400 0
2/3/1903 Prepaid office rent 4200 0
2/13/1903 Prepaid dues and subscription 250 0
2/23/1903 Supplies 450 0
4/24/1903 Equipment 36000 0
4/25/1903 Accumulated depreciation: e 0 10800
10/10/1905 Notes payable 0 5000
10/20/1905 Income taxes payable 0 17000
10/30/1905 Unearned consulting fees 0 3100
11/9/1905 Intrest Payable 0 100
11/19/1905 Salaries Payable 0 1700
7/6/1908 Capital stock 0 30000
7/16/1908 Retained earnings 0 116700
7/26/1908 Dividends 60000 0
4/2/1911 Consulting fees earned 0 0
12/27/1913 Salaries expense 0 0
1/6/1914 Telephone expense 0 0
1/16/1914 Rent expense 0 0
1/26/1914 Income taxes expense 0 0
2/5/1914 Dues and subscriptions expen 0 0
2/15/1914 Supplies expense 0 0
2/25/1914 Depreciation expense: equip 0 0
3/7/1914 Miscellaneous expenses 0 0
3/17/1914 Intrest Expense 0 0
Grand Total 0 0
184400 184400
 Balance Sheet

Assets

Cash 49100 -
Consulting fees receivable 34400 -
Prepaid office rent 4200 -
Prepaid dues and subscriptions 250 -
Supplies 450 -
Equipment 36000 -
Accumulated depreciation: equipment 0 10,800

113,600
alance Sheet

Liabilities & Share Holders Equity

Notes payable 0 5,000

Income taxes payable 0 17,000
Unearned consulting fees 0 3,100
Intrest Payable 0 100
Salaries Payable 0 1,700
Capital stock 0 30,000
Retained earnings 0 116,700
Dividends 60000 -

113,600
 49,100
23,400
6,300
Prepaid dues and subscriptions 300
Supplies 600
Equipment 36,000
Accumulated depreciation: equipment $ 10,200
Notes payable 5,000
Income taxes payable 12,000
Unearned consulting fees 5,950
Capital stock 30,000
Retained earnings 32,700
Dividends 60,000
Consulting fees earned 257,180
Salaries expense 88,820
Telephone expense 2,550
Rent expense 22,000
Income taxes expense 51,000
Dues and subscriptions expense 560
Supplies expense 1,600
Depreciation expense: equipment 6,600
Miscellaneous expenses