Lausanne Co., Inc.

Trial Balance
30-Sep-14
Unadjusted Adjussting Entries Adjussted T B Income Statement
Account Title
Dr. Cr. Dr. Cr. Dr. Cr. Dr.
Cash 200 200
Accounts Receivable 250 5 255
Supplies 50 8 42
Prepaid Rent 10 2 8
Equipment 200 200
Accumulated Depr—Equipment - 10 10
Notes Payable 20 20
Accounts Payable 10 10
Salaries and Wages Payable - 10 10
Interest Payable - 4 4
Unearned Rent Revenue 15 6 9
Share Capital—Ordinary 600 600
Retined Earning 20 20
Dividends 1 1
Service Revenue 50 5 55
Rent Revenue 10 6 16
Salaries and Wages Expense 8 10 18 18
Rent Expense 3 2 5 5
Depreciation Expense 10 10 10
Supplies Expense 8 8 8
Utilities Expense 3 3 3
Interest Expense 4 4 4
Total 725 725 45 45 754 754 48
23
71
-
Income Statement Balance Sheet
Cr. Dr. Cr. General Journal
200 Interest Expense 4
255 Interest Payable 4
42 Supplies Expense 8
8 Supplies 8
200 Depreciation Expense 10
10 Accumulated Depr.—Equipment 10
20 Rent Expense 2
10 Prepaid Rent 2
10 Salaries and Wages Expense 10
4 Salaries and Wages Payable 10
9 Accounts Receivable 5
600 Service Revenue 5
20 Unearned Rent Revenue 6
1 Rent Revenue 6
55
16 Lausanne Co., Inc.
Income Statement
30-Sep-14
Service Revenue 55
Rent Revenue 16
Total Revenue 71
Expenses
71 706 683 Salaries and Wages Expense 18
23 Rent Expense 5
71 706 706 Depreciation Expense 10
Supplies Expense 8
Utilities Expense 3
Interest Expense 4
Total Expenses 48
Net Income 23

Lausanne Co., Inc.

Retained Earning Statement
30-Sep-14
Retined Earning Beginning 20
Add: Net Income 23
Less: Divident 1
Retined Earning Ending 42

Lausanne Co., Inc.

Balance Sheet
30-Sep-14
Assets
Cash 200
Accounts Receivable 255
Supplies 42
Prepaid Rent 8
Equipment 200
Accumulated Depr—Equipment 10 190
Total Assets 695
Liability
Notes Payable 20
Accounts Payable 10
Salaries and Wages Payable 10
Interest Payable 4
Unearned Rent Revenue 9
Toral Liability 53
Equity
Share Capital—Ordinary 600
Retined Earning 42
Toral Equity 642
Total Liability and Equity 695
 Lausanne Co., Inc.
Post Closing Trial Balance
30-Sep-14
Cash 200
Accounts Receivable 255
Supplies 42
Prepaid Rent 8
Equipment 200
Accumulated Depreciation—Equipment 10
Notes Payable 20
Accounts Payable 10
Salaries and Wages Payable 10
Interest Payable 4
Unearned Rent Revenue 9
Share Capital—Ordinary 600
Retined Earning 42
705 705
Closing Entries
Service Revenue 55
Rent Revenue 16
Retined Earning 71
Retined Earning 48
Salaries and Wages Expense 18
Rent Expense 5
Depreciation Expense 10
Supplies Expense 8
Utilities Expense 3
Interest Expense 4
Retined Earning 1
Dividends 1