Whispering Advertising was founded by Murali Vedula in January
2015. Presented below are both the adjusted and unadjusted trial
balances as of December 31, 2017.
WHISPERING ADVERTISING |
||||||||||||
Unadjusted |
Adjusted |
|||||||||||
Dr. |
Cr. |
Dr. |
Cr. |
|||||||||
Cash | $13,560 | $13,560 | ||||||||||
Accounts Receivable | 16,310 | 19,286 | ||||||||||
Supplies | 9,610 | 6,495 | ||||||||||
Prepaid Insurance | 3,870 | 2,247 | ||||||||||
Equipment | 60,700 | 60,700 | ||||||||||
Accumulated Depreciation-Equipment | $26,150 | $30,850 | ||||||||||
Notes Payable | 8,700 | 8,700 | ||||||||||
Accounts Payable | 1,800 | 1,800 | ||||||||||
Interest Payable | 0 | 609 | ||||||||||
Unearned Service Revenue | 4,800 | 2,864 | ||||||||||
Salaries and Wages Payable | 0 | 821 | ||||||||||
Common Stock | 20,850 | 20,850 | ||||||||||
Retained Earnings | 8,387 | 8,387 | ||||||||||
Dividends | 15,000 | 15,000 | ||||||||||
Service Revenue | 62,703 | 67,615 | ||||||||||
Salaries and Wages Expense | 9,880 | 10,701 | ||||||||||
Insurance Expense | 1,623 | |||||||||||
Interest Expense | 609 | |||||||||||
Depreciation Expense | 4,700 | |||||||||||
Supplies Expense | 3,115 | |||||||||||
Rent Expense | 4,460 | 4,460 | ||||||||||
$133,390 |
$133,390 |
$142,496 |
$142,496 |
Income Statement:
WHISPERING ADVERTISING | ||
Income Statement | ||
For the Year Ended December 31,2017 | ||
Revenues: | ||
Service revenue | $67,615 | |
Expenses: | ||
Salaries and Wages expense | $10,701 | |
Insurance expense | $1,623 | |
Interest expense | $609 | |
Depreciation expense | $4,700 | |
Supplies expense | $3,115 | |
Rent expense | $4,460 | |
Total expenses | $25,208 | |
Net income | $42,407 |
Whispering Advertising was founded by Murali Vedula in January 2015. Presented below are both the adjusted...
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