Answer:
INCOME STATEMENT
For the year ended December 31
Service Revenue                   $149,200
Property Taxes          8,800
Salaries Expense  126,600
Insurance Expense   7,300
Supplies Expense    6,600  $149,300
Net loss                                       $100
Dividends                                   3,100
Retained Earnings                 ($3,200)
BALANCE SHEET
As of December 31
Assets:
Cash                              $81,900
Supplies                            3,200
Accounts Payable            <u> 1,900</u>
Total Assets                 $87,000
Liabilities + Equity:
Accts Receivable            51,800
Deferred Revenue            1,100
Insurance Payable           <u>7,300</u>
Total liabilities               60,200
Common Stock             30,000
Retained Earnings         (3,200)
Total liabilities and
 stockholders' equity  $87,000
Explanation:
a) Data and Calculations:
Cash account
Date      Accounts Title             Debit      Credit
Jan. 9   Service Revenue     $137,100
Feb. 12 Accounts receivable   51,800
Apr. 25 Deferred Revenue     13,200
July 15  Property taxes                           $8,800
Sep. 10 Accounts Payable                        11,700
Oct. 31 Salaries Expense                      126,600
Nov. 20 Common Stock       30,000
Dec. 30  Dividends                                    3,100
Dec. 31 Balance                                    $81,900
                                           $232,100 $232,100
Service Revenue
Date      Accounts Title             Debit      Credit
Jan. 9   Cash Account                            $137,100
Dec. 31  Deferred Revenue                       12,100
Dec. 31  Income Statement $149,200
                                             $149,200 $149,200
Accounts Receivable
Date      Accounts Title           Debit      Credit
Feb. 12  Cash Account                       $51,800 
Deferred Revenue
Date      Accounts Title           Debit      Credit
Apr. 25 Cash Account                         $13,200
Dec. 31  Service Revenue    $12,100
Dec. 31  Balance                     $1,100
                                             $13,200  $1`3,200
Supplies
Date      Accounts Title           Debit      Credit
May 6   Accounts Payable   $9,800
Dec. 31 Supplies Expense                   $6,600
Dec. 31 Balance                                      3,200
                                              $9,800   $9,800
Accounts Payable
Date      Accounts Title           Debit      Credit
May 6   Supplies                                  $9,800
Sep. 10 Cash Account          $11,700
Dec. 31 Balance                                    $1,900
                                              $11,700  $11,700
Property Taxes Expense
Date      Accounts Title           Debit      Credit
July 15  Cash Account         $8,800
Salaries Expense
Date      Accounts Title           Debit      Credit
Oct. 31  Cash                       $126,600
Common Stock
Date      Accounts Title           Debit      Credit
Nov. 20 Cash Account                        $30,000
Dividends
Date      Accounts Title           Debit      Credit
Dec. 30 Cash Account         $3,100
Insurance Expense
Date      Accounts Title           Debit      Credit
Dec. 31  Insurance Payable  $7,300
Supplies Expense
Date      Accounts Title           Debit      Credit
Dec. 31  Supplies Account  $6,600
Insurance Payable
Date      Accounts Title           Debit      Credit
Dec. 31  Insurance Expense                 $7,300
Adjusted TRIAL BALANCE
As of December 31
Accounts Title           Debit      Credit
Cash                        $81,900
Supplies                     3,200
Accounts Payable      1,900
Property Taxes          8,800
Salaries Expense  126,600
Insurance Expense   7,300
Supplies Expense    6,600
Service Revenue                   $149,200
Accts Receivable                       51,800
Deferred Revenue                       1,100
Insurance Payable                      7,300
Common Stock                        30,000
Dividends                  3,100
Total                  $239,400 $239,400