Demo books / Brand & web design studio
Vermilion Fox Design Studio LLC
FY2025 · fabricated business, fabricated accounts
Trial balance
debits = credits
✓ Foots to zero0.00
Balance sheet
assets = liabilities + equity
✓ Balances0.00
Profit & loss
FY2025
| Revenue | |
| 4000SalesSch C Part I | 57,106.05 |
| Total revenue | 57,106.05 |
| Expenses | |
| 6008AdvertisingSch C 8 | 1,154.11 |
| 6016InterestSch C 16 | 107.71 |
| 6017Legal & professional servicesSch C 17 | 1,238.93 |
| 6018Office expenseSch C 18 | 1,681.95 |
| 6020Rent or leaseSch C 20 | 8,400.00 |
| 6024aTravelSch C 24a | 4,337.48 |
| 6024bMealsSch C 24b | 301.90 |
| 6025UtilitiesSch C 25 | 317.59 |
| Total expenses | 17,539.67 |
| Net income | 39,566.38 |
Balance sheet
Assets = Liabilities + Equity
| Assets | |
| 1000Checking | 44,460.92 |
| Total assets | 44,460.92 |
| Liabilities | |
| 2000Credit card | 601.02 |
| Total liabilities | 601.02 |
| Equity | |
| 3000Owner's capital | 14,200.00 |
| 3100Owner's draw | -9,906.48 |
| 3900Net income for the period | 39,566.38 |
| Total equity | 43,859.90 |
| Liabilities + equity | 44,460.92 |
Trial balance
Every account, both columns
| Account | Debit | Credit |
|---|---|---|
| 1000Checking | 44,460.92 | |
| 2000Credit card | 601.02 | |
| 3000Owner's capital | 14,200.00 | |
| 3100Owner's draw | 9,906.48 | |
| 4000Sales | 57,106.05 | |
| 6008Advertising | 1,154.11 | |
| 6016Interest | 107.71 | |
| 6017Legal & professional services | 1,238.93 | |
| 6018Office expense | 1,681.95 | |
| 6020Rent or lease | 8,400.00 | |
| 6024aTravel | 4,337.48 | |
| 6024bMeals | 301.90 | |
| 6025Utilities | 317.59 | |
| Totals | 71,907.07 | 71,907.07 |
Schedule C mapping
Form 1040, by line number
| Part IGross receipts | 57,106.05 |
| Line 8Advertising | 1,154.11 |
| Line 16Interest | 107.71 |
| Line 17Legal & professional services | 1,238.93 |
| Line 18Office expense | 1,681.95 |
| Line 20Rent or lease | 8,400.00 |
| Line 24aTravel | 4,337.48 |
| Line 24bMealsMeals are generally 50% deductible | 301.90 |
| Line 25Utilities | 317.59 |
| Total expenses | 17,539.67 |
Mapped to IRS Schedule C (Form 1040). This is a categorization of your books, not tax advice.
Every amount is shown in its account's own normal direction, which is why these tables carry no minus signs. All four reports are read from the same journal — if the trial balance foots, the balance sheet balances, because they are two views of one set of rows.