Copies_Express - Current Assets 73,820 Short Term...

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NURG Ü L AYTAR Copies Express Trial Balance As of 31.12.2006 ACCOUNTS Amounts Balance Adjusting Entries Adjusted Balance Debit Credit Debit  Credit Debit Credit Debit Credit Cash 243,200 207,005 36,195 0 36,195 Supply Inventory 77,000 0 77,000 0 9,875 60,250 26,625 Building and Equipment 300,000 0 300,000 0 300,000 Land 12,000 0 12,000 0 12,000 Accounts Receivable 0 0 0 0 11,000 11,000 Accounts Payable 10,400 10,400 0 0 9,875 9,875 Bank Loan 12,000 24,000 0 12,000 12,000 Capital Stock 0 304,000 0 304,000 304,000 Copying Services Revenue 0 241,200 0 241,200 11,000 252,200 Wage and Salaries 85,750 0 85,750 0 85,750 Heat, Light, Power 15,000 0 15,000 0 15,000 Selling and Administration 28,375 0 28,375 0 28,375 Interest Expense 2,880 0 2,880 0 2,880 Depreciation Expense 0 0 0 0 15,000 15,000 Accumulated Depreciation 0 0 0 0 15,000 15,000 Supply Expense 0 0 0 0 60,250 60,250 Tax Payable 0 0 0 0 11,593 11,593 Accrued Tax Payable 0 0 0 0 11,593 11,593 GRAND TOTAL 786,605 786,605 557,200 557,200 107,718 107,718 604,668 604,668
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COPIES EXPRESS Balance Sheet as of 31.12.2006 ASSETS O.EQUITY - LIALIBITIES
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Unformatted text preview: Current Assets 73,820 Short Term Lialibities 33,468 Cash 36,195 Bank Loan 12,000 Accounts Receivable 11,000 Accounts Payable 9,875 Supply Inventory 26,625 Tax Payable 11,593 Fixed Assets 297,000 Long Term Lialibities 337,352 Land 12,000 Owner's Equity Building and Equipment 300,000 Capital Stock 304,000 (-) Accumulated Depreciation-15,000 Retained Earnings 33,352 Total of Assets 370,820 370,820 COPIES EXPRESS I/S for the term 02.01.06-31.12.06 Service Revenues 252,200 Operating Expenses 207,255 Wage and Salaries 85,750 Heat, Light, Power 15,000 Selling and Administration 28,375 Interest Expense 2,880 Supply Expense 60,250 Depreciation Expense 15,000 Income Before Tax 44,945 Tax 11,593 Net Income 33,352...
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