4-11
EXERCISES (CONTINUED)
(C)
LIABILITIES AND OWNER’S EQUITY
00
00
00
3
2
5
1
3
4
$
$
00
00
1
2
1
$
Accounts Payable
Wages Payable
Total Liabilities
Owner’s Equity
J. Tutle, Capital
Total Liabilities and
Owner’s Equity
J. Tutle
Balance Sheet
March 31, 201X
ASSETS
00
00
00
00
00
8
7
7
1
5
4
$
00
00)
11
(10
$
Accts. Receivable
Prepaid Insurance
Store Equipment
Less Accum. Dep.
Store Supplies
Total Assets
©
PROBLEM 4A-1
ADJ. TRIAL BALANCE
JACK’S FITNESS CENTER
WORKSHEET
ADJUSTMENTS
TRIAL BALANCE
Account Titles
PROBLEM 4A-2
LEMMING’S LANDSCAPING SERVICE
WORKSHEET
FOR MONTH ENDED AUGUST 31, 201X
Balance Sheet
Credit
Debit
5,500
Income Statement
Credit
Debit
Adjusted Trial Balance
Credit
Debit
5,500
Adjustments
Credit
Debit
Trial Balance
Credit
Debit
5,500
Account Titles
Cash in Bank
PROBLEM 4A-3
KENT’S MOVING COMPANY
WORKSHEET
FOR MONTH ENDED DECEMBER 31, 201X
Balance Sheet
Credit
Debit
Income Statement
Credit
Debit
Adjusted Trial Balance
Credit
Debit
Adjustments
Credit
Debit
Trial Balance
Credit
Debit
Account Titles
PROBLEM 4A-3 (CONTINUED)
(2)
KENT’S MOVING CO.
INCOME STATEMENT
FOR MONTH ENDED DECEMBER 31, 201X
Revenue:
Revenue from Moving
$9
0
0
0
00
Operating Expenses:
Wage Expense
$4
1
1
6
00
Rent Expense
6
0
0
00
Advertising Expense
4
0
0
00
Insurance Expense
2
0
0
00
Moving Supplies Expense
5
0
0
00
Depreciation Expense, Moving Truck
4
5
0
00
Total Operating Expenses
6
2
6
6
00
Net Income
$2
7
3
4
00
KENT’S MOVING CO.
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED DECEMBER 31, 201X
(2)
K. Hull, Capital, December 1, 201X
$10
1
4
1
00
Net Income for December
$2
7
3
4
00
Less: Withdrawals for December
(1
0
0
0
00)
Increase in Capital
1
7
3
4
00
K. Hull, Capital, December 31, 201X
$11
8
7
5
00
4-16
PROBLEM 4A-3 (CONCLUDED)
(2)
00
00
00
5
5
0
7
7
5
7
8
6
$2
11
$14
00
00
0
5
0
7
5
2
$2
KENT’S MOVING COMPANY
BALANCE SHEET
DECEMBER 31, 201X
Liabilities
Accounts Payable
Wages Payable
Total Liabilities
K. Hull, Capital
Total Liabilities and
Owner’s Equity
00
00
00
00
00
0
0
0
0
0
0
0
0
5
5
0
0
1
5
6
$5
2
1
6
$14
00
00)
0
0
0
5
0
4
$14
(7
Cash
Prepaid Insurance
Moving Supplies
Moving Truck
Less Acc. Dep.
Total Assets
PROBLEM 4A-4
DAMON’S REPAIR SERVICE
WORKSHEET
FOR MONTH ENDED APRIL 30, 201X
Balance Sheet
Credit
Debit
3,000
Income Statement
Credit
Debit
Adjusted Trial Balance
Credit
Debit
3,000
Adjustments
Credit
Debit
Trial Balance
Credit
Debit
3,000
Account Titles
Cash
PROBLEM 4A-4 (CONTINUED)
(2)
DAMON’S REPAIR SERVICE
INCOME STATEMENT
FOR MONTH ENDED APRIL 30, 201X
Revenue:
Revenue from Repairs
$9
5
0
0
00
Operating Expenses:
Wages Expense
$2
0
0
0
00
Rent Expense
7
0
0
00
Advertising Expense
3
2
0
00
Insurance Expense
6
0
0
00
Repair Supplies Expense
2
1
0
0
00
Depreciation Expense; Repair Equipment
6
0
0
00
Total Operating Expenses
6
3
2
0
00
Net Income
$3
1
8
0
00
(2)
DAMON’S REPAIR SERVICE
4-19
PROBLEM 4A-4 (CONCLUDED)
(2)
LIABILITIES AND OWNER’S EQUITY
00
00
00
0
0
0
5
5
0
0
3
4
$5
7
$12
00
00
0
0
5
0
DAMON’S REPAIR SERVICE
BALANCE SHEET
APRIL 30, 201X
8
2
$4
Accounts Payable
Wages Payable
Total Liabilities
Owner’s Equity
D. Heines, Capital
Total Liabilities and
Owner’s Equity
ASSETS
00
00
00
00
0
0
0
0
0
0
0
0
5
4
5
4
4
2
2
$12
00
00)
0
0
0
0
5
0
$4
(2
Prepaid Insurance
Repair Supplies
Repair Equipment
Less: Acc. Dep.
Total Assets
PROBLEM 4B-1
ADJ. TRIAL BALANCE
ADJUSTMENTS
JANA’S FITNESS CENTER
WORKSHEET
TRIAL BALANCE
Account Titles