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Transactions directly in the T accounts

Cash

a.

$30,000

b.

$2,500

g.

$9,000

c.

$6,000

e.

$2,100

f.

$3,600

h

$2,600

i

$4,000

j

$1,875

m

$6,000

n

$1,300

Bal.

$9025

Accounts Receivable

l

$31,400

Supplies

e.

$2,100

Prepaid Insurance

f.

$3,600

Automobiles

c.

$28,500

Equipment

d.

$8,000

Notes Payable

j

$1,875

c.

$22,500

Bal.

$20,625

Accounts Payable

i

$4,000

d

$8,000

k

$5,500

Bal.

$9,500

Common Stock

a

$30,000

Professional Fees

g.

$9,000

l

$31,400

Bal.

$40,400

Salary Expense

m.

$6,000

Blueprint Expense

k

$5,500

Rent Expense

b.

$2,500

Misc. Expense

h

$2,600

Automobile Expense

n.

$1,300

UNADJUSTED TRIAL BALANCE

01/01/18

ACCOUNT TITLE

DEBIT

CREDIT

1

Cash

$9025

2

Accounts Receivable

$31,400

3

Supplies

$2,100

4

Prepaid Insurance

$3,600

5

Automobiles

$28,500

6

Equipment

$8,000

7

Notes Payable

$20,625

8

Accounts Payable

$9,500

9

Common Stock

$30,000

10

Professional Fees

$40,400

11

Salary Expense

$6,000

12

Blueprint Expense

$5,500

13

Rent Expense

$2,500

14

Automobile Expense

$1,300

15

Miscellaneous Expense

$2,600

16

Totals

$100,525

 $100,525

 

Calulation of net income

Professional Fees

$40,400

Less: Expenses

Salary Expense

$6,000

Blueprint Expense

$5,500

Rent Expense

$2,500

Automobile Expense

$1,300

Miscellaneous Expense

$2,600

$17,900

Net income

$22,500

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