Question

	CREATE THE JANUARY 31, 2018 UNADJUSTED TRIAL BALANCE FOR THE FOLLOWING JOURNAL EQUATIONS

a.	1/1/18	Office Supplies	350
		Accounts Payable		350
		To record on credit payment for office supplies
b.	1/1/18	Prepaid Insurance	1800
		Cash		1800
		To record purchase of 24-month insurance for cash
c.	1/1/18	Computer Equipment	2100
		Accounts Payable		2100
		To record purache of computer equipment
d.	1/5/18	Merchandise Inventory	1275
		Accounts Payable		1275
		To record purchase of merchandis for resale
e.	1/8/18	Accounts Payble	2100
		Sales Discount		42
		Cash		2058
		To record full payment for computer equipment
f.	1/10/18	Accounts Payable	350
		Cash		350
		To record full payment for office supplies
g.	1/12/18	Unearned Revenue	5000
		Sales Revenue		5000
		To record delivery of interior layout
h.	1/14/18	Accounts Receivable	18,500
		Sales Revenue		18,500
		To record project completed and billed to customer
i.	1/16/18	Wages Expense	4225
		Payroll taxes expense	1055
		Cash		5280
		To record wage and tax payment
j.	1/18/18	Cash	30
		Office Supplies		30
		To record refund of items returned from Jan. 1
k.	1/20/18	Cash	5000
		Accounts Receivable		5000
		To record payment of work
l.	1/24/18	Cash	275
		Sales Revenue		275
		To record sale of side table
m.	1/26/18	Accounts Payable	200
		Merchandise Inventory		200
		To record inventory returned to supplier
n.	1/30/18	Cash	9250
		Accounts Receivable		9250
		To record partial payment for invoice on Jan. 14
	january 1, 2018 Beginning Balances Description Debit Credit Cash    95,349.00 Accounts Receivable       7,250.00 Inventory       4,898.00 Prepaid Insurance       3,250.00 Prepaid Rent       1,750.00 Building Computers & Software       2,740.00 Accumulated Dep Comp              411.00 Furniture & Fixtures       5,775.00 Accumulated Dep F&F              619.00 Land Machinery & Equipment Accumulated Dep M&E Accounts Payable          1,600.00 Payroll Tax Payable          1,055.00 Sales Tax Payable              250.00 Unearned Revenue          5,000.00 Line of Credit Notes Payable Wages Payable          4,225.00 Peters, J., Capital          1,000.00 Peters, M., Capital          1,000.00 Retained Earnings    105,852.00 Designing Revenue Furnishing Sales Cost of Goods Sold Vendor Compensation Contract Labor Expense Materials Expense Supplies Expense Wages Expense Depreciation Expense Insurance Expense Office Rent Expense Office Supplies Expense Payroll Tax Expense Postage Expense Small Tools Expense

Answer 1

Dear Friend,

Iam applying the given data (Journal Entries) to the Opening Trail Balance (January 01, 2018) to derive at the Closing Trial Balance as on January 31, 2018. However iam ignoring the Deprciation Calculation Entries for this month, if you want you can adjust the same in Revenue statement in the coloumn of Depreciation Expense and also in Balance Sheet in the coloumn of Accumulated Depreciation for the respective Asset.

Revenue Statement (Only of Adjusting Balances )
Particulars	Debit	Credit	Working Note
Sales Revenue	0	5000+18500+275 = 23775	Add G,H,L
Wages Expense	4225	0	Add I
Office Supplies Expense	350-30=320	0	Add A , Subtract J
Payroll Tax Expense	1055	0	Add I
Discount Received	0	42	Add E
Total	5600	23817
Difference Transferred to Balance Sheet	23817-5600 = 18217

Now, Lets adjust Balance sheet Items:

Balance Sheet (Only of Adjusting Balances)
Particulars	Debit	Credit	Adjusting Balances	Total (Dr)	Total (Cr)	Working Note
Cash	95349	0	-1800-2058-350-5280+30+5000+275+9250 = 5067	100416	0	Add J,K,L,N & Subtract B,E,F,I
Accounts Receivables	7250	0	18500-5000-9250 = 4250	11500	0	Add H & Subtract K,N
Inventory	4898	0	1275-200 = 1075	5973	0	Add D & Subtract M
Prepaid Insurance	3250	0	1800	5050	0	Add B
Prpaid Rent	1750	0	0	1750	0	-
Computers & Software	2740	0	2100	4840	0	Add C
Accumulated Dep Comp	0	411	0	0	411	-
Furniture and Fixtures	5775	0	0	5775	0	-
Accumulated Dep F & F	0	619	0	0	619	-
Accounts Payable	0	1600	350+2100+1275-2100-350-200 = 1075	0	2675	Add A,C,D & Subtract E,F,M
Payroll Tax Payable	0	1055	0	0	1055	-
Sales Tax Payable	0	250	0	0	250	-
Unearned Revenue	0	5000	-5000	0	0	Subtract G
Wages Payable	0	4225	0	0	4225	-
Peters J Capital	0	1000	0	0	1000	-
Peters M Capital	0	1000	0	0	1000	-
Retained Earnings	0	105852	18217	0	124069	From Revenue Statement
Total	-	-	-	135304	135304	-