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PROBLEM 12B-4 (CONTINUED)
CULLEN LUMBER
GENERAL LEDGER
CASH
ACCOUNT NO. 110
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
1
3
4
0
00
PROBLEM 12B-4 (CONTINUED)
PREPAID INSURANCE
ACCOUNT NO. 114
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
2
1
5
00
31
Adjusting
GJ2
1
5
0
00
6
5
00
LUMBER EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
3
3
0
0
00
PROBLEM 12B-4 (CONTINUED)
J. CREW, CAPITAL
ACCOUNT NO. 330
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
8
4
0
5
00
31
Closing
GJ2
4
2
3
0
00
12
6
3
5
00
31
Closing
GJ2
3
3
0
0
00
9
3
3
5
00
PROBLEM 12B-4 (CONTINUED)
PURCHASES
ACCOUNT NO. 550
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
15
2
0
0
00
31
Closing
GJ2
15
2
0
0
00
PURCHASES DISCOUNT
ACCOUNT NO. 551
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
2
3
5
00
31
Closing
GJ2
2
3
5
00
PROBLEM 12B-4 (CONTINUED)
RENT EXPENSE
ACCOUNT NO. 662
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Balance
√
8
4
0
00
31
Closing
GJ2
8
4
0
00
DEPRECIATION EXPENSE, LUMBER EQUIPMENT
ACCOUNT NO. 663
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Dec.
31
Adjusting
GJ2
2
4
0
00
2
4
0
00
31
Closing
GJ2
2
4
0
00
PROBLEM 12B-4 (CONCLUDED)
(4)
CREW LUMBER
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 201X
Dr.
Cr.
Cash
1
3
4
0
00
Accounts Receivable
1
2
1
0
00
Merchandise Inventory
5
3
0
0
00
Lumber Supplies
6
5
00
Prepaid Insurance
6
5
00
Lumber Equipment
3
3
0
0
00
Acc. Depr., Lumber Equipment
7
1
0
00
Accounts Payable
1
1
7
0
00
Wages Payable
6
5
00
J. Crew, Capital
9
3
3
5
00
11
2
8
0
00
11
2
8
0
00
(5)
GENERAL JOURNAL
Jan.
1
Wages Payable
221
6
5
5
00
Wages Expense
660
6
5
00
(Reversing Entry)
FINANCIAL REPORT PROBLEM SOLUTION—2013 Kellogg’s Annual Report
Selling, general and administrative expense $3,872 million 2012
Selling, general and administrative expense $3,266 million 2013
--------------------
$606 million decrease
CONTINUING PROBLEM: SMITH COMPUTER CENTER SOLUTION
GENERAL JOURNAL
PAGE 12
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Adjusting Entries
Mar.
31
Rent Expense
5020
3
0
0
0
00
Prepaid Rent
1025
3
0
0
0
00
31
Supplies Expense
5050
2
7
5
7
00
Supplies
1030
2
7
5
00
31
Depreciation Expense, Office Equipment
5090
3
9
0
00
Accumulated Depreciation, Office Equip.
1091
3
9
0
00
31
Depreciation Expense, C.S. Equipment
5080
6
6
0
00
Accumulated Depreciation, C.S. Equip.
1081
6
6
0
00
31
Merchandise Inventory
1021
4
0
0
00
Income Summary
3020
4
0
0
00
CONTINUING PROBLEM(CONTINUED)
SMITH COMPUTER CENTER
GENERAL LEDGER
CASH
ACCOUNT NO. 1000
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Balance
√
17
2
6
3
76
PETTY CASH
ACCOUNT NO. 1010
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Balance
√
3
0
0
00
CONTINUING PROBLEM(CONTINUED)
PREPAID RENT
ACCOUNT NO. 1025
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Balance
√
3
5
0
0
00
31
Adjusting
GJ12
3
0
0
0
00
5
0
0
00
CONTINUING PROBLEM(CONTINUED)
ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT
ACCOUNT NO. 1091
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Balance
√
1
1
0
00
31
Adjusting
GJ12
3
9
0
00
5
0
0
00
ACCOUNTS PAYABLE
ACCOUNT NO. 2000
Date
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Balance
√
3
1
7
0
00
