Account Names Unajusted Trial Balance Adjustments

Debit Credit Debit Credit

National Bank Checking $ 3,982.26
Accounts Recieveable $ 18,987.35
Product Inventory $ 25,476.94
Supplies $ 3,170.31 $ 2,817.42 A
Prepaid Insurance $ 1,200.00 $ 200.00 B
Prepaid Rent $ 450.00
Furniture and Equipment $ 8,423.85
Accumulated Depreciation $ 280.00 C
Accounts Payable $ 31,170.55
Payroll Liabilities
Sales Tax Payable $ 1,394.82
Opening Balance Equity $ 25,000.00
Ashterfuge, Drawing
Ashterfuge, Capital
Sales $ 34,373.82
Shipping and Delivery Income $ 1,782.50
Cost of Goods Sold $ 18,749.41
Freight and Shipping Cost $ 1,925.39
Purchase Discount
Advertising and Promotion
Bank Service Charge $ 33.98
Computer and Internet Expenses $ 231.58
Depreciation Expense C $ 280.00
Insurance Expense B $ 200.00
Meals and Entertainment $ 489.62
Supplies Expense A $ 2,817.42
Payroll Expense
Professional Fees $ 7,000.00
Rent Expense $ 450.00
Repairs and Maintenance $ 500.00
Travel Expense $ 2,651.00
Utilites Expense
Total $ 93,721.69 $ 93,721.69 $ 3,297.42 $ 3,297.42

Total
 Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit
$ 3,982.26 $ 3,982.26
$ 18,987.35 $ 18,987.35
$ 25,476.94 $ 25,476.94
$ 352.89 $ 352.89
$ 1,000.00 $ 1,000.00
$ 450.00 $ 450.00
$ 8,423.85 $ 8,423.85
$ 280.00 $ 280.00
$ 31,170.55 $ 31,170.55

$ 1,394.82 $ 1,394.82
$ 25,000.00

$ 25,000.00
$ 34,373.82 $ 34,373.82
$ 1,782.50 $ 1,782.50
$ 18,749.41 $ 18,749.41
$ 1,925.39 $ 1,925.39

$ 33.98 $ 33.98
$ 231.58 $ 231.58
$ 280.00 $ 280.00
$ 200.00 $ 200.00
$ 489.62 $ 489.62
$ 2,817.42 $ 2,817.42

$ 7,000.00 $ 7,000.00
$ 450.00 $ 450.00
$ 500.00 $ 500.00
$ 2,651.00 $ 2,651.00

$ 94,001.69 $ 94,001.69 $ 35,328.40 $ 36,156.32 $ 58,673.29 $ 57,845.37

Net Income $ 827.92 $ 827.92
$ 36,156.32 $ 36,156.32 $ 58,673.29 $ 58,673.29
 Asterfuge Guitars
Income Statement
Ended December 31, 2015
Revenues:
Sales $ 34,373.82
Less: Cost of Goods Sold $ 18,749.41
Gross Profit $ 15,624.41

Other Income:
Shipping and Delivery Income $ 1,782.50
Total Revenue $ 17,406.91

Expenses:
Bank Service Charge $ 33.98
Freight and Shipping Cost $ 1,925.39
Computer and Internet Expenses $ 231.58
Depreciation Expense $ 280.00
Insurance Expense $ 200.00
Meals and Entertainment $ 489.62
Supplies Expense $ 2,817.42
Professional Fees $ 7,000.00
Rent Expense $ 450.00
Repairs and Maintenance $ 500.00
Travel Expense $ 2,651.00
Total Expenses $ 16,578.99
Net Income $ 827.92
 Asterfuge Guitars
Statement of Owners Equity
Ended December 31, 2015
Ashterfuge, Capital, October 1, 2015 $ -
Opening Balance Equity $ 25,000.00
Net Income for two months $ 827.92
$ 25,827.92
Ashterfuge, Drawing $ -
Ashterfuge, Capital, December 31, 2015 $ 25,827.92
 Asterfuge Guitars
Balance Sheet
Ended December 31, 2015
Assets Liabilities
National Bank Checking $ 3,982.26 Accounts Payable $ 31,170.55
Accounts Recieveable $ 18,987.35 Sales Tax Payable $ 1,394.82
Product Inventory $ 25,476.94 Total Liabilities $ 32,565.37
Supplies $ 352.89
Prepaid Insurance $ 1,000.00
Prepaid Rent $ 450.00
Furniture and Equipment $ 8,423.85 Owner's Equity
Accumulated Depreciation $ (280.00) Ashterfuge, Capital $ 25,827.92
Total Assets $ 58,393.29 Total Liabilities and Owner's Equity $ 58,393.29