Sample Tax Packet

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Sample Tax Packet

  1. 1. 2011 TRIAL BALANCE & WORK PAPERS Company Name, Inc. Cash Basis July 24, 2012 Prepared by: Jordan Merritt PROFESSIONAL BOOKKEEPING FOR SMALL BUSINESSES www.merrittbookkeeping.com | office: (818) 514-5234 | Jordan.m@merrittbookkeeping.com
  2. 2. Cash Basis Company Name, Inc. Trial Balance As of December 31, 2011 Click the blue button link below to jump to that page number.Account Debit Credit Detail BackupChecking - B of A (6932) 17,630.57 Page 11 Rec. - Page 3 / Stmt. - Page 4Savings - B of A (8019) 53,487.89 Page 11 Rec. - Page 5 / Stmt. - Page 6Due from Shareholder 61,100.00 Page 11Computer Equipment 2,000.00 Page 11Equipment 33,989.00 Page 11 2010 Schedule L - Page 7Equipment:Accumulated Depreciation 30,085.00 Page 11 2010 Schedule L - Page 7Furniture 1,200.00 Page 12Dell Computer Loan 1,700.00 Page 12 Amortization Sched. - Page 8Small Business Loan 53,312.85 Page 12 Amortization Sched. - Page 9Retained Earnings 44,713.00 Page 12 2010 Schedule L - Page 7Service Income 111,536.21 Page 12Automobile Expense:Lease Payments 11,000.00 Page 12Dues and Subscriptions 1,100.00 Page 12Fees:Bank Service Charges 12.00 Page 12Interest Expense 3,045.54 Page 13Legal Fees 9,292.40 Page 13Meals and Entertainment 6,500.00 Page 13Professional Services:Accounting 6,830.34 Page 13Professional Services:Assistant 1,019.84 Page 13Professional Services:Consulting 30,000.00 Page 13Rent Expense 1,600.00 Page 13Taxes:State 800.00 Page 13Telephone Expense 900.00 Page 13Interest Income 160.52 Page 14 Stmt. - Page 6Total 241,507.58 241,507.58 Page 2
  3. 3. Back to Trial Balance Company Name, Inc. Reconciliation Summary Checking - B of A (6932), Period Ending 12/31/2011 Dec 31, 11Beginning Balance 34,540.70 Cleared Transactions Checks and Payments - 9 items -23,106.78 Deposits and Credits - 2 items 8,696.65 Total Cleared Transactions -14,410.13Cleared Balance 20,130.57 Uncleared Transactions Checks and Payments - 1 item -2,500.00 Total Uncleared Transactions -2,500.00Register Balance as of 12/31/2011 17,630.57Ending Balance 17,630.57 Page 1 Page 3
  4. 4. H Back to Trial Balance Ba nk of Amer ica , N .A. P a ge 1 of 3 P .O. Box 25118 Sta tement P er iod Ta mpa , F L 33622-5118 12/01/11 th r ou gh 12/31/11 E0 E P B EB 62 0167347 Accou n t N u mber 6932 31487 E01 SCM999 0 Our Online Ba nking ser vice a llows you to ch eck ba la n ces, tr a ck a ccou n t a ctivity a n d mor e. Wit h On lin e Ba n k in g y o u c a n a lso v ie w u p t o 18 m o n t h s o f t h is st a t e m e n t o n lin e . E n r oll a t www.ba nkofa mer ica .com/sma llbusiness. Customer Service Information www.bankofamerica.com F or addit ional infor mat ion or ser vice, you may call: Or you may wr it e t o: 1.888.BU SIN E SS (1.888.287.4637) Bank of Amer ica, N .A. P .O. Box 25118 Tampa, F L 33622-5118 Deposit Accounts Business Economy Checking You r A ccou n t at a Glan ce Account N umber St at ement Beginning Balance $11,137.01 St at ement P er iod 12/01/11 t h Amount of Deposit s/Cr edit s $18,843.76 N umber of Deposit s/Cr edit s 9 Amount of Wit hdr awals/Debit s $9,850.20 N umber of Wit hdr awals/Debit s 8 St at ement E nding Balance $20,130.57 N umber of Deposit ed It ems 0 Aver age Ledger Balance $18,994.15 N umber of Days in Cycle 31 Ser vice Char ge $0.00Remember, by using your Bank of America Small Business Check Card, Bank of America provides you with another way to avoidthe monthly maintenance fee on your business checking account. Page 4
  5. 5. Back to Trial Balance Company Name, Inc. Reconciliation SummarySavings - B of A (8019), Period Ending 12/31/2011 Dec 31, 11Beginning Balance 53,481.92 Cleared Transactions Deposits and Credits - 1 item 5.97 Total Cleared Transactions 5.97Cleared Balance 53,487.89Register Balance as of 12/31/2011 53,487.89Ending Balance 53,487.89 Page 1 Page 5
  6. 6. H Back to Trial Balance Ba nk of Amer ica , N .A. P a ge 1 of 3 P .O. Box 25118 Sta tement P er iod Ta mpa , F L 33622-5118 12/01/11 th r ou gh 12/31/11 E0 E P A EA 23 0468007 E nclosur es 0 8019 03487 E01 SCM999 0 Our Online Ba nking ser vice a llows you to ch eck ba la n ces, tr a ck a ccou n t a ctivity a n d mor e. E n r oll a t www.ba nkofa mer ica .com. Customer Service Information www.bankofamerica.com F or addit ional infor mat ion or ser vice, you may call: Or you may wr it e t o: 1.888.BU SIN E SS (1.888.287.4637) Bank of Amer ica, N .A. P .O. Box 25118 Tampa, F L 33622-5118 Deposit Accounts Business Interest Maximizer You r A ccou n t at a Glan ceAccount N umber St at ement Beginning Balance $53,481.92St at ement P er iod 12/01/11 t h Amount of Deposit s/Cr edit s $262,738.87N umber of Deposit s/Cr edit s 3 Amount of Wit hdr awals/Debit s $262,732.90N umber of Wit hdr awals/Debit s 2 St at ement E nding Balance $53,487.89N umber of Days in Cycle 31 Aver age Collect ed Balance $78,907.87 Aver age Ledger Balance $78,907.87 Ser vice Char ge $0.00 In t eres t In form at ionAmount of Int er est P aid $5.97 Int er est P aid Year -t o-Dat e $160.52An nual P er cent age Yield E ar ned Wit hholding Year -t o-Dat e $0.00 This St at ement P er iod 0.09% Page 6
  7. 7. Back to Trial BalanceForm 1120S (2010) THE TREE HOUSE SCHOOL, INC. 27-1230984 Page 4Schedule L Balance Sheets per Books Beginning of tax year End of tax year Assets (a) (b) (c) (d) 1 Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 834. 33,534. 2 a Trade notes and accounts receivable. . . . . . . . b Less allowance for bad debts . . . . . . . . . . . . . . . 3 Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 U.S. government obligations. . . . . . . . . . . . . . . . 5 Tax-exempt securities (see instructions). . . . . 6 Other current assets (attach stmt). . . . . SEE. . ST . .4 . .... ... . 1,275. 7 Loans to shareholders. . . . . . . . . . . . . . . . . . . . . . 8 Mortgage and real estate loans . . . . . . . . . . . . . 9 Other investments (attach statement) . . . . . . . . . . . . . . .10 a Buildings and other depreciable assets. . . . . . 33,989. b Less accumulated depreciation . . . . . . . . . . . . . 30,085. 3,904.11 a Depletable assets. . . . . . . . . . . . . . . . . . . . . . . . . . b Less accumulated depletion . . . . . . . . . . . . . . . .12 Land (net of any amortization). . . . . . . . . . . . . .13 a Intangible assets (amortizable only). . . . . . . . . b Less accumulated amortization . . . . . . . . . . . . .14 Other assets (attach stmt). . . . . . . . . . . .ST. . 5. SEE . . . 6,000. 6,000.15 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,834. 44,713. Liabilities and Shareholders Equity16 Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . .17 Mortgages, notes, bonds payable in less than 1 year . . . .18 Other current liabilities (attach stmt). . . . . . . . . . . . . . . .19 Loans from shareholders . . . . . . . . . . . . . . . . . . . 15,000.20 Mortgages, notes, bonds payable in 1 year or more . . . . .21 Other liabilities (attach statement). . . . . . . . . . . . . . . . . .22 Capital stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Additional paid-in capital . . . . . . . . . . . . . . . . . . .24 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . -8,166. 44,713.25 Adjustments to shareholders equity (att stmt). . . . . . . . .26 Less cost of treasury stock . . . . . . . . . . . . . . . . .27 Total liabilities and shareholders equity . . . . . 6,834. 44,713.Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more see instructions 1 Net income (loss) per books. . . . . . . . . . . . . . . . 52,879. 5 Income recorded on books this year not included 2 Income included on Schedule K, lines 1, 2, 3c, 4, 5a, 6, 7, on Schedule K, lines 1 through 10 (itemize): 8a, 9, and 10, not recorded on books this year (itemize): a Tax-exempt interest. $ 3 Expenses recorded on books this year not 6 Deductions included on Schedule K, lines 1 through included on Schedule K, lines 1 through 12, 12, and 14l, not charged against book income this and 14l (itemize): year (itemize): a Depreciation. . . . . . . . $ a Depreciation. . . . $ b Travel and entertainment . $ 3,570. 3,570. 7 Add lines 5 and 6. . . . . . . . . . . . . . . . . . . . . . . 0. 56,449. 8 Income (loss) (Schedule K, ln 18). Ln 4 less ln 7 . . . 4 Add lines 1 through 3 . . . . . . . . . . . . . . . . . . . . . . 56,449.Schedule M-2 Analysis of Accumulated Adjustments Account, Other Adjustments Account, and Shareholders Undistributed Taxable Income Previously Taxed (see instructions) (a) Accumulated (b) Other (c) Shareholders undis- tributed taxable income adjustments account adjustments account previously taxed 1 Balance at beginning of tax year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0. 2 Ordinary income from page 1, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,312. 3 Other additions . . . . . . . . . . . . . . . . . . . . . . .SEE . .STATEMENT . .6 . . . . . .... ............. . 6. 4 Loss from page 1, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Other reductions. . . . . . . . . . . . . . . . . . . . . .SEE . .STATEMENT . .7 . . . . . .... ............. . ( 29,439.) 6 Combine lines 1 through 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,879. 7 Distributions other than dividend distributions. . . . . . . . . . . . . . . . . . . . . . 8 Balance at end of tax year. Subtract line 7 from line 6. . . . . . . . . . . . . . 52,879. SPSA0134L 07/22/10 Form 1120S (2010) Page 7
  8. 8. Back to Trial Balance Loan Summary & Amortization Schedule As of December 31, 2011 Due to Dell ComputersLoan SummaryLoan Amount: $2,000.00Interest Rate: 5.00%Amortization Period: 5 yrsInterest Only Period: free 12 mthsOrigination Date: Sep-2011Maturity Date: Sep-2012Loan Balance Today: $1,000.00Loan Balance at Maturity: $900.00Loan Constant: 22.65%Date Beginning Balance Interest Payment Principle Payment Ending BalanceJul-2010 $0.00 $0.00 $0.00 $0.00Aug-2010 $0.00 $0.00 $0.00 $0.00Sep-2010 $0.00 $0.00 $0.00 $0.00Oct-2010 $0.00 $0.00 $0.00 $0.00Nov-2010 $0.00 $0.00 $0.00 $0.00Dec-2010 $0.00 $0.00 $0.00 $0.00Jan-2011 $0.00 $0.00 $0.00 $0.00Feb-2011 $0.00 $0.00 $0.00 $0.00Mar-2011 $0.00 $0.00 $0.00 $0.00Apr-2011 $0.00 $0.00 $0.00 $0.00 Current Tax YearMay-2011 $0.00 $0.00 $0.00 $0.00Jun-2011 $0.00 $0.00 $0.00 $0.00Jul-2011 $0.00 $0.00 $0.00 $0.00Aug-2011 $0.00 $0.00 $0.00 $0.00Sep-2011 $0.00 $0.00 $0.00 $0.00Oct-2011 $2,000.00 $0.00 $100.00 $1,900.00Nov-2011 $1,900.00 $0.00 $100.00 $1,800.00Dec-2011 $1,800.00 $0.00 $100.00 $1,700.00Jan-2012 $1,700.00 $0.00 $100.00 $1,600.00Feb-2012 $1,600.00 $0.00 $100.00 $1,500.00Mar-2012 $1,500.00 $0.00 $100.00 $1,400.00Apr-2012 $1,400.00 $0.00 $100.00 $1,300.00May-2012 $1,300.00 $0.00 $100.00 $1,200.00Jun-2012 $1,200.00 $0.00 $100.00 $1,100.00 Page 8
  9. 9. Back to Trial Balance Loan Summary & Amortization Schedule As of December 31, 2011 Due to Small Business LoanLoan SummaryLoan Amount: $60,000.00Interest Rate: 8.00%Amortization Period: 5 yrsInterest Only Period: 0 mthsOrigination Date: May-2011Maturity Date: May-2014Loan Balance Today: $47,162.79Loan Balance at Maturity: $26,899.33Loan Constant: 24.33%Date Beginning Balance Interest Payment Principle Payment Ending BalanceJul-2010 $0.00 $0.00 $0.00 $0.00Aug-2010 $0.00 $0.00 $0.00 $0.00Sep-2010 $0.00 $0.00 $0.00 $0.00Oct-2010 $0.00 $0.00 $0.00 $0.00Nov-2010 $0.00 $0.00 $0.00 $0.00Dec-2010 $0.00 $0.00 $0.00 $0.00Jan-2011 $0.00 $0.00 $0.00 $0.00Feb-2011 $0.00 $0.00 $0.00 $0.00Mar-2011 $0.00 $0.00 $0.00 $0.00Apr-2011 $0.00 $0.00 $0.00 $0.00 Current Tax YearMay-2011 $60,000.00 $400.00 $816.58 $59,183.42Jun-2011 $59,183.42 $394.56 $822.03 $58,361.39Jul-2011 $58,361.39 $389.08 $827.51 $57,533.88Aug-2011 $57,533.88 $383.56 $833.02 $56,700.86Sep-2011 $56,700.86 $378.01 $838.58 $55,862.28Oct-2011 $55,862.28 $372.42 $844.17 $55,018.11Nov-2011 $55,018.11 $366.79 $849.80 $54,168.31Dec-2011 $54,168.31 $361.12 $855.46 $53,312.85Jan-2012 $53,312.85 $355.42 $861.16 $52,451.69Feb-2012 $52,451.69 $349.68 $866.91 $51,584.78Mar-2012 $51,584.78 $343.90 $872.69 $50,712.10Apr-2012 $50,712.10 $338.08 $878.50 $49,833.59May-2012 $49,833.59 $332.22 $884.36 $48,949.23Jun-2012 $48,949.23 $326.33 $890.26 $48,058.98 Page 9
  10. 10. Back to Trial Balance Company Name, Inc. General LedgerCash Basis As of December 31, 2011 Type Date Memo Split Debit Credit Balance Checking - B of A (6932) 33,534.00 Deposit 1/4/2011 Deposit Service Income 30,000.00 63,534.00 Transfer 1/5/2011 Funds Transfer Savings - B of A (8019) 59,975.12 3,558.88 Deposit 1/31/2011 Deposit Service Income 6,000.00 9,558.88 Deposit 2/28/2011 Service Income 1,709.89 11,268.77 Deposit 2/28/2011 Deposit Service Income 6,000.00 17,268.77 Check 3/1/2011 Due from Shareholder 5,000.00 12,268.77 Deposit 3/1/2011 Loan Payback Due From John Smith 1,275.00 13,543.77 Check 3/2/2011 Legal Fees 2,651.40 10,892.37 Check 3/2/2011 Telephone Expense 100.00 10,792.37 Check 3/7/2011 Lease Payments 1,100.00 9,692.37 Check 3/14/2011 Legal Fees 1,653.00 8,039.37 Deposit 3/28/2011 Service Income 1,709.89 9,749.26 Deposit 3/31/2011 Deposit Service Income 6,000.00 15,749.26 Check 4/1/2011 Due from Shareholder 5,000.00 10,749.26 Deposit 4/1/2011 Returned Security Deposit Security Deposit 6,000.00 16,749.26 Check 4/4/2011 2011 Franchise Tax Payment State 800.00 15,949.26 Check 4/4/2011 Telephone Expense 100.00 15,849.26 Check 4/7/2011 Lease Payments 1,100.00 14,749.26 Check 4/18/2011 Legal Fees 1,262.50 13,486.76 Check 4/29/2011 Due from Shareholder 5,000.00 8,486.76 Deposit 4/30/2011 Deposit Service Income 6,000.00 14,486.76 Deposit 5/1/2011 5 years, 8% interest Small Business Loan 60,000.00 74,486.76 Check 5/5/2011 Telephone Expense 100.00 74,386.76 Check 5/6/2011 Lease Payments 1,100.00 73,286.76 Check 5/13/2011 Meals and Entertainment 6,500.00 66,786.76 Check 5/20/2011 Legal Fees 1,262.50 65,524.26 Check 5/27/2011 Annual membership dues Dues and Subscriptions 1,000.00 64,524.26 Check 5/31/2011 -SPLIT- 1,216.58 63,307.68 Deposit 5/31/2011 Deposit Service Income 6,000.00 69,307.68 Check 5/31/2011 Consulting 10,000.00 59,307.68 Check 6/1/2011 Due from Shareholder 5,000.00 54,307.68 Check 6/2/2011 Telephone Expense 100.00 54,207.68 Transfer 6/6/2011 Funds Transfer Savings - B of A (8019) 6,647.75 60,855.43 Check 6/7/2011 Lease Payments 1,100.00 59,755.43 Check 6/7/2011 Week of 5/30/11 Assistant 77.77 59,677.66 Check 6/9/2011 Wire transfer fee Bank Service Charges 12.00 59,665.66 Check 6/14/2011 Week of 6/6/11 Assistant 134.00 59,531.66 Check 6/23/2011 Week of 6/13/11 Assistant 135.30 59,396.36 Check 6/27/2011 Week of 6/20/11 Assistant 222.63 59,173.73 Check 6/27/2011 Office Desk Furniture 1,200.00 57,973.73 Check 6/30/2011 -SPLIT- 1,216.59 56,757.14 Deposit 6/30/2011 Deposit Service Income 6,000.00 62,757.14 Check 7/1/2011 Due from Shareholder 5,000.00 57,757.14 Check 7/7/2011 Lease Payments 1,100.00 56,657.14 Check 7/12/2011 Tax Preparation Accounting 936.59 55,720.55 Check 7/13/2011 Week of 7/4/11 Assistant 114.36 55,606.19 Check 7/15/2011 Bookkeeping Accounting 1,125.00 54,481.19 Check 7/30/2011 -SPLIT- 1,216.59 53,264.60 Deposit 7/30/2011 Deposit Service Income 6,000.00 59,264.60 Check 7/31/2011 Consulting 10,000.00 49,264.60 Check 8/1/2011 Due from Shareholder 1,000.00 48,264.60 Check 8/5/2011 Lease Payments 1,100.00 47,164.60 Check 8/5/2011 Week of 7/24/11 Assistant 109.26 47,055.34 Check 8/8/2011 Telephone Expense 100.00 46,955.34 Check 8/25/2011 Due from Shareholder 4,000.00 42,955.34 Check 8/26/2011 Bookkeeping Accounting 975.00 41,980.34 Check 8/31/2011 Week of 8/1/11 Assistant 60.24 41,920.10 Check 8/31/2011 -SPLIT- 1,216.58 40,703.52 Deposit 8/31/2011 Deposit Service Income 6,000.00 46,703.52 Check 9/1/2011 Due from Shareholder 1,000.00 45,703.52 Check 9/2/2011 Due from Shareholder 4,000.00 41,703.52 Check 9/2/2011 Office rent Rent Expense 400.00 41,303.52 Check 9/6/2011 Telephone Expense 100.00 41,203.52 Check 9/7/2011 Lease Payments 1,100.00 40,103.52 Check 9/12/2011 Week of 9/2/11 Assistant 76.08 40,027.44 Deposit 9/28/2011 Service Income 1,709.89 41,737.33 Check 9/30/2011 Due from Shareholder 1,000.00 40,737.33 Check 9/30/2011 -SPLIT- 1,216.59 39,520.74 Deposit 9/30/2011 Deposit Service Income 6,000.00 45,520.74 Check 9/30/2011 Consulting 10,000.00 35,520.74 Check 10/3/2011 Due from Shareholder 4,000.00 31,520.74 Check 10/3/2011 Telephone Expense 100.00 31,420.74 Check 10/5/2011 Office Rent Rent Expense 400.00 31,020.74 Check 10/7/2011 Lease Payments 1,100.00 29,920.74 Check 10/25/2011 Dell Computer Loan 100.00 29,820.74 Check 10/31/2011 -SPLIT- 1,216.59 28,604.15 Deposit 10/31/2011 Deposit Service Income 6,000.00 34,604.15 Page 1 Page 10
  11. 11. Back to Trial Balance Company Name, Inc. General LedgerCash Basis As of December 31, 2011 Type Date Memo Split Debit Credit Balance Check 11/1/2011 Due from Shareholder 1,000.00 33,604.15 Check 11/4/2011 Bookkeeping Accounting 1,293.75 32,310.40 Check 11/4/2011 Office Rent Rent Expense 400.00 31,910.40 Check 11/7/2011 For Lavelle and Finn LLP Legal Fees 2,463.00 29,447.40 Check 11/7/2011 Lease Payments 1,100.00 28,347.40 Check 11/7/2011 Telephone Expense 100.00 28,247.40 Check 11/15/2011 Annual fees due for business license Dues and Subscriptions 100.00 28,147.40 Check 11/23/2011 Dell Computer Loan 100.00 28,047.40 Deposit 11/28/2011 Service Income 1,709.89 29,757.29 Check 11/30/2011 -SPLIT- 1,216.59 28,540.70 Deposit 11/30/2011 Deposit Service Income 6,000.00 34,540.70 Check 12/1/2011 Due from Shareholder 13,100.00 21,440.70 Check 12/5/2011 Due from Shareholder 6,000.00 15,440.70 Check 12/5/2011 Office Rent Rent Expense 400.00 15,040.70 Check 12/6/2011 Telephone Expense 100.00 14,940.70 Check 12/7/2011 Lease Payments 1,100.00 13,840.70 Check 12/13/2011 Week of 12/3/11 Assistant 90.20 13,750.50 Check 12/22/2011 Dell Computer Loan 100.00 13,650.50 Deposit 12/28/2011 Service Income 2,696.65 16,347.15 Check 12/30/2011 Due from Shareholder 1,000.00 15,347.15 Check 12/30/2011 Tax Preparation Accounting 2,500.00 12,847.15 Check 12/31/2011 -SPLIT- 1,216.58 11,630.57 Deposit 12/31/2011 Deposit Service Income 6,000.00 17,630.57 Total Checking - B of A (6932) 185,458.96 201,362.39 17,630.57 Savings - B of A (8019) 0.00 Transfer 1/5/2011 Funds Transfer Checking - B of A (6932) 59,975.12 59,975.12 Deposit 1/31/2011 Deposit Interest Income 11.01 59,986.13 Deposit 2/28/2011 Deposit Interest Income 13.56 59,999.69 Deposit 3/31/2011 Deposit Interest Income 10.56 60,010.25 Deposit 4/30/2011 Deposit Interest Income 12.11 60,022.36 Deposit 5/30/2011 Deposit Interest Income 19.56 60,041.92 Transfer 6/6/2011 Funds Transfer Checking - B of A (6932) 6,647.75 53,394.17 Deposit 6/30/2011 Deposit Interest Income 15.40 53,409.57 Deposit 7/30/2011 Deposit Interest Income 15.55 53,425.12 Deposit 8/30/2011 Deposit Interest Income 13.62 53,438.74 Deposit 9/30/2011 Deposit Interest Income 20.24 53,458.98 Deposit 10/30/2011 Deposit Interest Income 17.62 53,476.60 Deposit 11/30/2011 Deposit Interest Income 5.32 53,481.92 Deposit 12/31/2011 Deposit Interest Income 5.97 53,487.89 Total Savings - B of A (8019) 60,135.64 6,647.75 53,487.89 Due From John Smith 1,275.00 Deposit 3/1/2011 Loan Payback Checking - B of A (6932) 1,275.00 0.00 Total Due From John Smith 0.00 1,275.00 0.00 Due from Shareholder 0.00 Check 3/1/2011 Checking - B of A (6932) 5,000.00 5,000.00 Check 4/1/2011 Checking - B of A (6932) 5,000.00 10,000.00 Check 4/29/2011 Checking - B of A (6932) 5,000.00 15,000.00 Check 6/1/2011 Checking - B of A (6932) 5,000.00 20,000.00 Check 7/1/2011 Checking - B of A (6932) 5,000.00 25,000.00 Check 8/1/2011 Checking - B of A (6932) 1,000.00 26,000.00 Check 8/25/2011 Checking - B of A (6932) 4,000.00 30,000.00 Check 9/1/2011 Checking - B of A (6932) 1,000.00 31,000.00 Check 9/2/2011 Checking - B of A (6932) 4,000.00 35,000.00 Check 9/30/2011 Checking - B of A (6932) 1,000.00 36,000.00 Check 10/3/2011 Checking - B of A (6932) 4,000.00 40,000.00 Check 11/1/2011 Checking - B of A (6932) 1,000.00 41,000.00 Check 12/1/2011 Checking - B of A (6932) 13,100.00 54,100.00 Check 12/5/2011 Checking - B of A (6932) 6,000.00 60,100.00 Check 12/30/2011 Checking - B of A (6932) 1,000.00 61,100.00 Total Due from Shareholder 61,100.00 0.00 61,100.00 Computer Equipment 0.00 General Journal 9/3/2011 Computer purchase (interest only loan for year) (Interest free for first 1 year) Dell Computer Loan 2,000.00 2,000.00 Total Computer Equipment 2,000.00 0.00 2,000.00 Equipment 3,904.00 Accumulated Depreciation -30,085.00 Total Accumulated Depreciation -30,085.00 Equipment - Other 33,989.00 Total Equipment - Other 33,989.00 Total Equipment 3,904.00 Furniture 0.00 Page 2 Page 11
  12. 12. Back to Trial Balance Company Name, Inc. General LedgerCash Basis As of December 31, 2011 Type Date Memo Split Debit Credit Balance Check 6/27/2011 Office Desk Checking - B of A (6932) 1,200.00 1,200.00 Total Furniture 1,200.00 0.00 1,200.00 Security Deposit 6,000.00 Deposit 4/1/2011 Returned Security Deposit Checking - B of A (6932) 6,000.00 0.00 Total Security Deposit 0.00 6,000.00 0.00 Dell Computer Loan 0.00 General Journal 9/3/2011 Computer purchase (interest only loan for year) (Interest free for first 1 year) Computer Equipment 2,000.00 -2,000.00 Check 10/25/2011 Checking - B of A (6932) 100.00 -1,900.00 Check 11/23/2011 Checking - B of A (6932) 100.00 -1,800.00 Check 12/22/2011 Checking - B of A (6932) 100.00 -1,700.00 Total Dell Computer Loan 300.00 2,000.00 -1,700.00 Small Business Loan 0.00 Deposit 5/1/2011 5 years, 8% interest Checking - B of A (6932) 60,000.00 -60,000.00 Check 5/31/2011 Principal Checking - B of A (6932) 816.58 -59,183.42 Check 6/30/2011 Principal Checking - B of A (6932) 822.03 -58,361.39 Check 7/30/2011 Principal Checking - B of A (6932) 827.51 -57,533.88 Check 8/31/2011 Principal Checking - B of A (6932) 833.02 -56,700.86 Check 9/30/2011 Principal Checking - B of A (6932) 838.58 -55,862.28 Check 10/31/2011 Principal Checking - B of A (6932) 844.17 -55,018.11 Check 11/30/2011 Principal Checking - B of A (6932) 849.80 -54,168.31 Check 12/31/2011 Principal Checking - B of A (6932) 855.46 -53,312.85 Total Small Business Loan 6,687.15 60,000.00 -53,312.85 Retained Earnings -44,713.00 Total Retained Earnings -44,713.00 Service Income 0.00 Deposit 1/4/2011 Deposit Checking - B of A (6932) 30,000.00 -30,000.00 Deposit 1/31/2011 Deposit Checking - B of A (6932) 6,000.00 -36,000.00 Deposit 2/28/2011 Checking - B of A (6932) 1,709.89 -37,709.89 Deposit 2/28/2011 Deposit Checking - B of A (6932) 6,000.00 -43,709.89 Deposit 3/28/2011 Checking - B of A (6932) 1,709.89 -45,419.78 Deposit 3/31/2011 Deposit Checking - B of A (6932) 6,000.00 -51,419.78 Deposit 4/30/2011 Deposit Checking - B of A (6932) 6,000.00 -57,419.78 Deposit 5/31/2011 Deposit Checking - B of A (6932) 6,000.00 -63,419.78 Deposit 6/30/2011 Deposit Checking - B of A (6932) 6,000.00 -69,419.78 Deposit 7/30/2011 Deposit Checking - B of A (6932) 6,000.00 -75,419.78 Deposit 8/31/2011 Deposit Checking - B of A (6932) 6,000.00 -81,419.78 Deposit 9/28/2011 Checking - B of A (6932) 1,709.89 -83,129.67 Deposit 9/30/2011 Deposit Checking - B of A (6932) 6,000.00 -89,129.67 Deposit 10/31/2011 Deposit Checking - B of A (6932) 6,000.00 -95,129.67 Deposit 11/28/2011 Checking - B of A (6932) 1,709.89 -96,839.56 Deposit 11/30/2011 Deposit Checking - B of A (6932) 6,000.00 -102,839.56 Deposit 12/28/2011 Checking - B of A (6932) 2,696.65 -105,536.21 Deposit 12/31/2011 Deposit Checking - B of A (6932) 6,000.00 -111,536.21 Total Service Income 0.00 111,536.21 -111,536.21 Automobile Expense 0.00 Lease Payments 0.00 Check 3/7/2011 Business use amount Checking - B of A (6932) 1,100.00 1,100.00 Check 4/7/2011 Business use amount Checking - B of A (6932) 1,100.00 2,200.00 Check 5/6/2011 Business use amount Checking - B of A (6932) 1,100.00 3,300.00 Check 6/7/2011 Business use amount Checking - B of A (6932) 1,100.00 4,400.00 Check 7/7/2011 Business use amount Checking - B of A (6932) 1,100.00 5,500.00 Check 8/5/2011 Business use amount Checking - B of A (6932) 1,100.00 6,600.00 Check 9/7/2011 Business use amount Checking - B of A (6932) 1,100.00 7,700.00 Check 10/7/2011 Business use amount Checking - B of A (6932) 1,100.00 8,800.00 Check 11/7/2011 Business use amount Checking - B of A (6932) 1,100.00 9,900.00 Check 12/7/2011 Business use amount Checking - B of A (6932) 1,100.00 11,000.00 Total Lease Payments 11,000.00 0.00 11,000.00 Total Automobile Expense 11,000.00 0.00 11,000.00 Dues and Subscriptions 0.00 Check 5/27/2011 Annual membership dues Checking - B of A (6932) 1,000.00 1,000.00 Check 11/15/2011 Annual fees due for business license Checking - B of A (6932) 100.00 1,100.00 Total Dues and Subscriptions 1,100.00 0.00 1,100.00 Fees 0.00 Bank Service Charges 0.00 Check 6/9/2011 Wire transfer fee Checking - B of A (6932) 12.00 12.00 Total Bank Service Charges 12.00 0.00 12.00 Total Fees 12.00 0.00 12.00 Page 3 Page 12
  13. 13. Back to Trial Balance Company Name, Inc. General LedgerCash Basis As of December 31, 2011 Type Date Memo Split Debit Credit Balance Interest Expense 0.00 Check 5/31/2011 Interest Checking - B of A (6932) 400.00 400.00 Check 6/30/2011 Interest Checking - B of A (6932) 394.56 794.56 Check 7/30/2011 Interest Checking - B of A (6932) 389.08 1,183.64 Check 8/31/2011 Interest Checking - B of A (6932) 383.56 1,567.20 Check 9/30/2011 Interest Checking - B of A (6932) 378.01 1,945.21 Check 10/31/2011 Interest Checking - B of A (6932) 372.42 2,317.63 Check 11/30/2011 Interest Checking - B of A (6932) 366.79 2,684.42 Check 12/31/2011 Interest Checking - B of A (6932) 361.12 3,045.54 Total Interest Expense 3,045.54 0.00 3,045.54 Legal Fees 0.00 Check 3/2/2011 Checking - B of A (6932) 2,651.40 2,651.40 Check 3/14/2011 Checking - B of A (6932) 1,653.00 4,304.40 Check 4/18/2011 Checking - B of A (6932) 1,262.50 5,566.90 Check 5/20/2011 Checking - B of A (6932) 1,262.50 6,829.40 Check 11/7/2011 For Lavelle and Finn LLP Checking - B of A (6932) 2,463.00 9,292.40 Total Legal Fees 9,292.40 0.00 9,292.40 Meals and Entertainment 0.00 Check 5/13/2011 Lakers Tickets Checking - B of A (6932) 6,500.00 6,500.00 Total Meals and Entertainment 6,500.00 0.00 6,500.00 Professional Services 0.00 Accounting 0.00 Check 7/12/2011 Tax Preparation Checking - B of A (6932) 936.59 936.59 Check 7/15/2011 Bookkeeping Checking - B of A (6932) 1,125.00 2,061.59 Check 8/26/2011 Bookkeeping Checking - B of A (6932) 975.00 3,036.59 Check 11/4/2011 Bookkeeping Checking - B of A (6932) 1,293.75 4,330.34 Check 12/30/2011 Tax Preparation Checking - B of A (6932) 2,500.00 6,830.34 Total Accounting 6,830.34 0.00 6,830.34 Assistant 0.00 Check 6/7/2011 Week of 5/30/11 Checking - B of A (6932) 77.77 77.77 Check 6/14/2011 Week of 6/6/11 Checking - B of A (6932) 134.00 211.77 Check 6/23/2011 Week of 6/13/11 Checking - B of A (6932) 135.30 347.07 Check 6/27/2011 Week of 6/20/11 Checking - B of A (6932) 222.63 569.70 Check 7/13/2011 Week of 7/4/11 Checking - B of A (6932) 114.36 684.06 Check 8/5/2011 Week of 7/24/11 Checking - B of A (6932) 109.26 793.32 Check 8/31/2011 Week of 8/1/11 Checking - B of A (6932) 60.24 853.56 Check 9/12/2011 Week of 9/2/11 Checking - B of A (6932) 76.08 929.64 Check 12/13/2011 Week of 12/3/11 Checking - B of A (6932) 90.20 1,019.84 Total Assistant 1,019.84 0.00 1,019.84 Consulting 0.00 Check 5/31/2011 Checking - B of A (6932) 10,000.00 10,000.00 Check 7/31/2011 Checking - B of A (6932) 10,000.00 20,000.00 Check 9/30/2011 Checking - B of A (6932) 10,000.00 30,000.00 Total Consulting 30,000.00 0.00 30,000.00 Total Professional Services 37,850.18 0.00 37,850.18 Rent Expense 0.00 Check 9/2/2011 Office rent Checking - B of A (6932) 400.00 400.00 Check 10/5/2011 Office Rent Checking - B of A (6932) 400.00 800.00 Check 11/4/2011 Office Rent Checking - B of A (6932) 400.00 1,200.00 Check 12/5/2011 Office Rent Checking - B of A (6932) 400.00 1,600.00 Total Rent Expense 1,600.00 0.00 1,600.00 Taxes 0.00 State 0.00 Check 4/4/2011 2011 Franchise Tax Payment Checking - B of A (6932) 800.00 800.00 Total State 800.00 0.00 800.00 Total Taxes 800.00 0.00 800.00 Telephone Expense 0.00 Check 3/2/2011 Checking - B of A (6932) 100.00 100.00 Check 4/4/2011 Checking - B of A (6932) 100.00 200.00 Check 5/5/2011 Checking - B of A (6932) 100.00 300.00 Check 6/2/2011 Checking - B of A (6932) 100.00 400.00 Check 8/8/2011 Checking - B of A (6932) 100.00 500.00 Check 9/6/2011 Checking - B of A (6932) 100.00 600.00 Check 10/3/2011 Checking - B of A (6932) 100.00 700.00 Check 11/7/2011 Checking - B of A (6932) 100.00 800.00 Check 12/6/2011 Checking - B of A (6932) 100.00 900.00 Total Telephone Expense 900.00 0.00 900.00 Page 4 Page 13
  14. 14. Back to Trial Balance Company Name, Inc. General LedgerCash Basis As of December 31, 2011 Type Date Memo Split Debit Credit Balance Interest Income 0.00 Deposit 1/31/2011 Deposit Savings - B of A (8019) 11.01 -11.01 Deposit 2/28/2011 Deposit Savings - B of A (8019) 13.56 -24.57 Deposit 3/31/2011 Deposit Savings - B of A (8019) 10.56 -35.13 Deposit 4/30/2011 Deposit Savings - B of A (8019) 12.11 -47.24 Deposit 5/30/2011 Deposit Savings - B of A (8019) 19.56 -66.80 Deposit 6/30/2011 Deposit Savings - B of A (8019) 15.40 -82.20 Deposit 7/30/2011 Deposit Savings - B of A (8019) 15.55 -97.75 Deposit 8/30/2011 Deposit Savings - B of A (8019) 13.62 -111.37 Deposit 9/30/2011 Deposit Savings - B of A (8019) 20.24 -131.61 Deposit 10/30/2011 Deposit Savings - B of A (8019) 17.62 -149.23 Deposit 11/30/2011 Deposit Savings - B of A (8019) 5.32 -154.55 Deposit 12/31/2011 Deposit Savings - B of A (8019) 5.97 -160.52 Total Interest Income 0.00 160.52 -160.52TOTAL 388,981.87 388,981.87 0.00 Page 5 Page 14

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