Accounting Worksheet

An accounting worksheet is large table of data which may be prepared by accountants as an optional intermediate step in an accounting cycle. The main purpose of a worksheet is that it reduces the likelyhood of forgeting an adjustment and it reveals arithmatic errors. A worksheet acts as a tool for an accountant and it is not usually intented to be used by third parties. It is an informal document.

A typical worksheet consists of a column on the left showing main account titles and 10 more columns of debits and credits showing trial balance, adjustments, adjusted trial balance, incomes statement and balancesheet.

Example

The following example shows a worksheet based on the data from various pages of this chapter. Scroll the worksheet to the right to view all columns.

Account TitleUnadjusted Trial BalanceAdjustmentsAdjusted Trial BalanceIncome StatementBalance Sheet
DebitCreditDebitCreditDebitCreditDebitCreditDebitCredit
Cash$20,430   $20,430   $20,430 
Accounts Receivable5,900   5,900   5,900 
Office Supplies22,800  $18,4804,320   4,320 
Prepaid Rent36,000  12,00024,000   24,000 
Equipment80,000   80,000   80,000 
Accumulated Depreciation   1,100 $1,100   $1,100
Accounts Payable $5,200   5,200   5,200
Notes Payable 20,000   20,000   20,000
Utilities Payable 3,964   3,964   3,964
Interest Payable   150 150   150
Unearned Revenue 4,000$3,000  1,000   1,000
Common Stock 100,000   100,000   100,000
Service Revenue 82,600 3,000 85,600 $85,600  
Wages Expense38,200   38,200 $38,200   
Supplies Expense  18,480 18,480 18,480   
Rent Expense  12,000 12,000 12,000   
Depreciation Expense  1,100 1,100 1,100   
Miscellaneous Expense3,470   3,470 3,470   
Electricity Expense2,470   2,470 2,470   
Telephone Expense1,494   1,494 1,494   
Dividend5,000   5,000   5,000 
Interest Expense  150 150 150   
Totals$215,764$215,764$34,730$34,730$217,014$217,014$77,364$85,600$139,650$131,414
Net Income      8,236  8,236
       $85,600$85,600$139,650$139,650

Written by Irfanullah Jan