PADUL CONSULTANTS

TRIAL BALANCE
December 31, 2020
debit credit
11 Cash 1,150.00
12 Accounts receivable 8,500.00
13 Supplies 1,300.00
14 Equipment 19,900.00
21 Accounts payable 2,750.00
31 Roger Lambada, capital 27,000.00
32 Roger Lambada, drawing 1,000.00
41 Fees earned 36,750.00
51 Wages salaries 20,150.00
52 Rent expense 9,850.00
53 Telephone expense 1,000.00
54 Water expense 750.00
55 Electricity expense 2,000.00
56 Miscellaneous expense 900.00
Total 66,500.00 66,500.00
 P

For the Ye
TRIAL BALANCE ADJUSTMENTS
DEBIT CREDIT DEBIT

Cash 1,150.00
Accounts receivable 8,500.00
Supplies 1,300.00 A
Equipment 19,900.00
Accounts payable 2,750.00
Roger Lambada, capital 27,000.00
Roger Lambada, drawing 1,000.00
Fees earned 36,750.00
Wages salaries 20,150.00
Rent expense 9,850.00
Telephone expense 1,000.00
Water expense 750.00
Electricity expense 2,000.00
Miscellaneous expense 900.00
Total 66,500.00 66,500.00

Supplies expense A 1,000.00

Depreciation expense B 800.00
Accumulated depreciation-equipment B
Total 1,800.00

NET PROFIT
 PADUL CONSULTANTS
WORKSHEET
For the Year Ended December 31, 2020
ADJUSTED
ADJUSTMENTS TRIAL BALANCE INCOME STATEMENT
CREDIT DEBIT CREDIT DEBIT CREDIT

1,150.00
8,500.00
1,000.00 300.00
19,900.00
2,750.00
27,000.00
1,000.00
36,750.00 36,750.00
20,150.00 20,150.00
9,850.00 9,850.00
1,000.00 1,000.00
750.00 750.00
2,000.00 2,000.00
900.00 900.00

1,000.00 1,000.00
800.00 800.00
800.00 800.00
1,800.00 67,300.00 67,300.00 - 36,450.00 36,750.00

(300.00)
36,450.00 36,450.00
 BALANCE SHEET
DEBIT CREDIT

1,150.00
8,500.00
300.00
19,900.00
2,750.00
27,000.00
1,000.00

800.00
- 30,850.00 30,550.00

(300.00)
- 30,550.00 30,550.00
 LAMBADA CONSULTANTS
Income Statement or Statement of Financial Operations
For the Year Ended December 31, 2020

REVENUE
Fees Earned 36,750.00

EXPENSES
Wages salaries 20,150.00

Rent expense 9,850.00

Telephone expense 1,000.00

Water expense 750.00

Electricity expense 2,000.00

Supplies on hand 1,000.00

Depreciation expense 800.00

Miscellaneous expense 900.00

Total expenses 36,450.00

NET PROFIT 300.00

 PADUL CONSULTANTS
Statement of Changes in Equity
Operations For the Year Ended December 31, 2020
20

Roger Lambada, Capital, 1/1/2020

Add: Net Income 300.00

Additional investment -
Total

Withdrawal 1,000.00

Roger Lambada, Capital, 12/31/2020

 TANTS PADU
es in Equity Statement of Financ
ember 31, 2020 Dece

27,000.00

Current Assets
- Cash
27,300.00 Accounts receivable
Supplies
1,000.00 Total Current Assets

26300 Non Current Assets

Equipment
Less: Accumulated Depreci

Total Assets

Current Liability
Accounts Payable

OW
Roger Lambada, Capital, 12/31/2020

Total Liab & Owner's Equity

 PADUL CONSULTANTS
Statement of Financial Position (or Balance Sheet)
December 31, 2020

ASSETS

1,150.00
ounts receivable 8,500.00
300.00
otal Current Assets 9,950.00

19,900.00
: Accumulated Depreciation 800.00 19,100.00

29,050.00

LIABILITY

ounts Payable 2,750.00

OWNER'S EQUITY
apital, 12/31/2020 26,300.00

r's Equity 29,050.00