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5-31
SOLUTIONS TO SET B PROBLEMS
PROBLEM 5B-1
DEB'S DANCE STUDIO
WORKSHEET
FOR THE MONTH ENDED APRIL 30, 201X
Balance Sheet
Credit
6,900
20,000
46,100
600
73,600
11,700
85,300
Debit
62,000
200
400
19,000
700
85,300
85,300
Income Statement
Credit
18,700
18,700
18,700
Debit
2,200
1,100
400
500
1,600
1,200
7,000
11,700
18,700
Adjusted Trial Balance
Credit
6,900
20,000
46,100
18,700
600
92,300
Debit
62,000
200
400
19,000
700
2,200
1,100
400
500
1,600
1,200
92,300
Adjustments
Credit
(A) 500
(B) 1,600
(C) 1,200
(D) 600
3,900
Debit
(D) 600
(A) 500
(B) 1,600
(C) 1,200
3,900
Trial Balance
Credit
5,700
20,000
46,100
18,700
90,500
Debit
62,000
700
2,000
19,000
700
1,600
1,100
400
90,500
Account Titles
Cash
Prepaid insurance
Dance Supplies
Dance Equipment
Acc. Dep. Dance Equip.
Accounts Payable
D. Draper, Capital
D. Draper, Withdrawals
Dance Fees Earned
Salaries Expense
Telephone Expense
Advertising Expense
Insurance Expense
Dance Supplies Expense
Dep. Exp. Dance Equip.
Salaries Payable
PROBLEM 5B-1 (CONTINUED)
DEB'S DANCE STUDIO
GENERAL JOURNAL
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Adjusting Entries
Apr.
30
Insurance Expense
500
00
Prepaid Insurance
500
00
30
Dance Supplies Expense
1,600
00
Dance Supplies
1,600
00
30
Depreciation Expense, Dance Equipment
1,200
00
Accumulated Depreciation, Dance Eq.
1,200
00
30
Salaries Expense
600
00
Salaries Payable
600
00
Closing Entries
30
Dance Fees Earned
18,700
00
Income Summary
18,700
00
30
Income Summary
7,000
00
Salaries Expense
2,200
00
Telephone Expense
1,100
00
Advertising Expense
400
00
Insurance Expense
500
00
Dance Supplies Expense
1,600
00
Depreciation Expense, Dance Eq.
1,200
00
30
Income Summary
11,700
00
D. Draper, Capital
11,700
00
30
D. Draper, Capital
700
00
D. Draper, Withdrawals
700
00
PROBLEM 5B-2
(1)
POTTER’S CLEANING SERVICE
GENERAL JOURNAL Page 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Adjusting Entries
July
31
Insurance Expense
517
210
00
Prepaid Insurance
114
210
00
31
Cleaning Supplies Expense
518
44
00
Cleaning Supplies
115
44
00
31
Depreciation Expense, Auto
519
450
00
Accumulated Depreciation, Auto
122
450
00
31
Salaries Expense
513
190
00
Salaries Payable
213
190
00
Closing Entries
31
Cleaning Fees
412
5,290
00
Income Summary
314
5,290
00
31
Income Summary
314
2,460
00
Salaries Expense
513
1240
00
Telephone Expense
514
110
00
Advertising Expense
515
196
00
Gas Expense
516
210
00
Insurance Expense
517
210
00
Cleaning Supplies Expense
518
44
00
Depreciation Expense, Auto
519
450
00
31
Income Summary
314
2,830
00
B. Potter, Capital
312
2,830
00
31
B. Potter, Capital
312
550
00
B. Potter, Withdrawals
313
550
00
PROBLEM 5B-2 (CONTINUED)
CASH
ACCOUNT NO. 112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
1,300
00
PREPAID INSURANCE
ACCOUNT NO. 114
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
610
00
31
Adjusting
GJ2
210
00
400
00
PROBLEM 5B-2 (CONTINUED)
ACCOUNTS PAYABLE
ACCOUNT NO. 212
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
384
00
SALARIES PAYABLE
ACCOUNT NO. 213
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Adjusting
GJ2
190
00
190
00
B. POTTER, CAPITAL
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
758
00
31
Closing
GJ2
2,830
00
3,588
00
31
Closing
GJ2
550
00
3,038
00
PROBLEM 5B-2 (CONTINUED)
INCOME SUMMARY
ACCOUNT NO. 314
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Closing
GJ2
5,290
00
5,290
00
31
Closing
GJ2
2,460
00
2,830
00
31
Closing
GJ2
2,830
00
CLEANING FEES
ACCOUNT NO. 412
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
5,290
00
31
Closing
GJ2
5,290
00
PROBLEM 5B-2 (CONTINUED)
ADVERTISING EXPENSE
ACCOUNT NO. 515
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
196
00
31
Closing
GJ2
196
00
GAS EXPENSE
ACCOUNT NO. 516
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Balance
√
210
00
31
Closing
GJ2
210
00
PROBLEM 5A-2 (CONTINUED)
DEPRECIATION EXPENSE, AUTO
ACCOUNT NO. 519
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
July
31
Adjusting
GJ2
450
00
450
00
31
Closing
GJ2
450
00
Copyright © 2016 Pearson Education, Inc.
5-39
PROBLEM 5B-2
(2)
POTTER’S CLEANING SERVICE
POST-CLOSING TRIAL BALANCE
JULY 31, 201X
Cash
$1,300
00
Prepaid Insurance
400
00
Cleaning Supplies
132
00
Auto
2,840
00
Accumulated Depreciation, Auto
$1,060
00
Accounts Payable
384
00
Salaries Payable
190
00
B. Potter, Capital
3,038
00
Totals
$4,672
00
$4,672
00
PROBLEM 5B-3
PALMER'S PLOWING
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Jan.
1
Cash
111
9
0
0
0
00
Snow Equipment
123
9
0
0
0
00
P. Mao, Capital
311
18
0
0
0
00
Owner Investment
1
Prepaid Rent
114
4
0
0
0
00
Cash
111
4
0
0
0
00
Rent Paid in Advance
4
Office Equipment
121
9
6
0
0
00
Accounts Payable
211
9
6
0
0
00
Bought Equipment On Account
6
Snow Supplies
115
6
0
0
00
Cash
111
6
0
0
00
Cash Purchase of Supplies
8
Cash
111
11
0
0
0
00
Plowing Fees
411
11
0
0
0
00
Cash Fees Earned
12
P. Mao, Withdrawals
312
8
0
0
0
00
Cash
111
8
0
0
0
00
Owner Withdrawal
20
Accounts Receivable
112
8
0
0
0
00
Plowing Fees
411
8
0
0
0
00
Fees Earned On Account
26
Salaries Expense
511
2
1
0
0
00
Cash
111
2
1
0
0
00
Paid Salaries
