T.J. Chan
Trial Balance
March 31, 20–
Account Title
Debit
Bank
A/R- M.Armota
A/R- F. Morsi
Supplies
Equipment
Automobile
A/P—Eustace Bros.
A/P—Regal Oil
T.J. Chan, Capital
T.J. Chan, Drawings
Fees Earned
Bank Charges Expense
Car Expense
Miscellaneous Expense
Rent Expense
Telephone Expense
Wages Expense
Credit
6560
800
500
900
6000
14000
900
90
28000
550
1550
TOTAL
50
90
75
465
150
400
30540
30540
T.J. Chan
Income Statement
Month Ended March 31, 20–
Revenue
Fees Earned
$1,550.00
Expenses
Bank Charges Expense
Car Expense
Miscellaneous Expense
Rent Expense
Telephone Expense
Wages Expense
Total Expenses
Net Income
$50.00
90.00
75.00
465.00
150.00
400.00
1,230.00
$320.00
OWNER'S EQUITY
T.J. Chan, Capital
Balance (April 1)
Net Income
Less Drawings
Decrease in Capital
Balance (March 31, 20-)
$28,000.00
$320.00
(550.00)
(230.00)
27,770.00