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    The document shows the trial balance, adjusting entries, income statement, and balance sheet for Dores Marie Pateno Hobby Shop for the year ended December 31, 2029. It includes accounts for assets, liabilities, capital, revenues, and expenses.

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    The document shows the trial balance, adjusting entries, income statement, and balance sheet for Dores Marie Pateno Hobby Shop for the year ended December 31, 2029. It includes accounts for assets, liabilities, capital, revenues, and expenses.

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    The document shows the trial balance, adjusting entries, income statement, and balance sheet for Dores Marie Pateno Hobby Shop for the year ended December 31, 2029. It includes accounts for assets, liabilities, capital, revenues, and expenses.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    16 views4 pages

    Ass Far

    Uploaded by

    lorieferpalogan
    The document shows the trial balance, adjusting entries, income statement, and balance sheet for Dores Marie Pateno Hobby Shop for the year ended December 31, 2029. It includes accounts for assets, liabilities, capital, revenues, and expenses.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Dores Marie Pateno Hobby Shop

    10-Column Worksheet
    For the Year Ended December 31,2029
    Account Name Trial Balance Adjustments Adjusted Trial Balance
    Debit Credit Debit Credit Debit
    Cash 100,000 100,000
    Accounts Receivable 500,000 500,000
    Merchandise Inventory 700,000 700,000
    Prepaid Rent 300,000 100,000 200,000
    Shop Equipment 1,600,000 1,600,000
    Accumulated Depreciation-equipment 200,000 200,000
    Accounts Payable 400,000
    Salaries Payable 30,000
    Pateno, Capital 1,300,000
    Pateno, Withdrawals 100,000 100,000
    Income Summary
    Sales 2,900,000
    Sales Discounts 100,000 100,000
    Purchases 800,000 800,000
    Purhcases Returns and Allowances 200,000
    Transporation In 100,000 100,000
    Salaries Expense 400,000 30,000 430,000
    Rent Expenses 100,000 100,000
    Advertising Expense 150,000 150,000
    Utilities Expense 100,000 100,000
    Supplies Expense 50,000 50,000
    Depreciation Expense - Equipment 200,000 200,000
    Totals 5,000,000 5,000,000 330,000 330,000 5,230,000

    ADJUSTING ENTRIES Debit Credit


    Salaries Expense 30,000
    Salaries Payable 30,000

    Rent Expenses 100,000


    Prepaid Rent 100,000

    Depreciation Expense-Equipment 200,000


    Accumulated Depreciation-Equipment 200,000
    by Shop
    et
    er 31,2029
    Adjusted Trial Balance Income Statement Balance Sheet
    Credit Debit Credit Debit Credit
    100,000
    500,000
    700,000 500,000 500,000
    200,000
    1,600,000
    400,000 400,000
    400,000 400,000
    30,000 30,000
    1,300,000 1,300,000
    100,000

    2,900,000 2,900,000
    100,000
    800,000
    200,000 200,000
    100,000
    430,000
    100,000
    150,000
    100,000
    50,000
    200,000
    5,230,000 2,730,000 3,600,000 3,000,000 2,130,000
    Net Income 870,000 870,000
    Totals 3,600,000 3,600,000 3,000,000 3,000,000
    JACOB INFORMATION SYSTEMS
    STATEMENT OF CHANGES IN OWNER'S EQUITY
    For the Year Ended December 31,2023

    Jacob, Capital, Jan. 1,2023 2,655,000


    Add: Net Income 1,189,000
    Total 3,844,000
    Less: Jacob, Withdrawal 700,000

    Jacob, capital, Dec. 31,2023 3,144,000

    JACOB INFORMATION SYSTEMS


    INCOME STATEMENT
    For the Year Ended December 31,2023

    Consulting Revenues 2,308,000


    Interest Income 12,000
    Operating Expenses:
    Salaries Expense 800,000
    Repairs Expense 116,000
    Miscellaneous Expense 37,000
    Office Supplies Expense 53,000
    Depreciation Expense - Building 50,000
    Depreciation Expense - Equipment 75,000
    Total Operating Expenses 1,131,000 2,320,000
    Net Income 1,189,000

    JACOB INFORMATION SYSTEMS


    BALANCE SHEET
    For the Year Ended December 31,2023
    ASSETS
    Current Assets:
    Cash 145,000
    Notes Receivable 360,000
    Accounts Receivable 156,000
    Interest Receivable 12,000
    Office Supplies 10,000
    Total Current Assets 683,000
    Non-current Assets
    Land 400,000
    Building 1,390,000
    Acumulated Depreciation - Building 304,000
    Equipment 2,150,000
    Accumulated Depreciation - Equipment 687,000
    Total Non-current Assets 2,949,000
    Total Assets 3,632,000

    LIABILITIES AND OWNER'S EQUITY


    Current Liabilities
    Accounts Payable 313,000
    Salaries Payable 25,000
    Unearned Consulting Revenue 150,000
    Total Current Liablities 488,000
    Total Liabilities 488,000

    OWNER'S EQUITY
    Jacob, Capital 3,144,000
    Total Owner's Equity 3,144,000
    Total Liabilities and Owners Equity 3,632,000

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