V LITTON WORKSHEET

V. LITTON, CPA
WORKSHEET
	1	2	3	4	5	6	7	8	9	10
	PRELIMINARY				ADJUSTED		INCOME		BALANCE
	TRIAL BALANCE		ADJUSTMENTS		TRIAL BALANCE		STATEMENT		SHEET
ACCOUNTS	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT
CASH	102250				102250				102250
ACCOUNTS RECEIVABLE	25200				25200				25200
NOTES RECEIVABLE	12000				12000				12000
FURNITURE & FIXTURES	27500				27500				27500
OFFICE EQUIPMENT	112000				112000				112000
ACCOUNTS PAYABLE		51000				51000				51000
NOTES PAYABLE		32000				32000				32000
LOAN PAYABLE		20000				20000				20000
V. LITTON CAPITAL		200000				200000				200000
V. LITTON DRAWING	10000				10000				10000
PROFESSIONAL FEES		55600				55600		55600
RENT EXPENSE	16400				16400		16400
OFFICE SUPPLIES EXPENSE	15500				15500		15500
LIGHT AND WATER EXPENSE	4000				4000		4000
SALARIES EXPENSE	30750				30750		30750
TAXES AND LICENSES EXPENSE	3000				3000		3000
TOTALS	358600	358600			358600	358600	69650	55600	288950	303000
NET LOSS								14050	14050
TOTALS							69650	69650	303000	303000

V LITTON Financial Statements

V. Litton, CPA
Income Statement
For the month ended December 31, 2015
Professional Fees		55600
Less: Expenses
Rent Expense	16400
Office Supplies Expense	15500
Light and Water	4000
Salaries Expense	30750
Taxes and Licenses	3000	69650
Net Loss		(14,050)
V. Litton, CPA
Statement of Changes in Owner's Equity
For the month ended December 31, 2015
Beginning Capital		200000
Add:  Additional Investment	0
Net Income	0
Less: Withdrawals	(10,000)
Net Loss	(14,050)	(24,050)
Ending Capital		175,950
V. Litton, CPA
Balance Sheet
As of December 31, 2015
Current Assets
Cash	102250
Accounts Receivable	25200
Note Receivable	12000
Total Current Assets		139450
Non-current Assets
Furniture and Fixtures	27500
Office Equipment	112000
Total Non-current Assets		139500
Total Assets		278950
Current Liabilities
Accounts payable	51000
Note Payable	32000
Total Current Liabilities		83000
Non-current Liability
Loan Payable		20000
Total Liabilities		103000
V. Litton Capital		175950
Total Liabilities and Owner's Equity		278950