Student Name:
Class:
Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
104,000 104,000 104,000
20,800 20,800 20,800
38,400 a 32,000 6,400 6,400
60,000 b 10,000 50,000 50,000
108,000 108,000 – 108,000
c2,200 2,200 2,200
24,800 24,800 24,800
252,000 252,000 252,000
14,400 14,400 14,400
103,200 103,200 103,200
a32,000 32,000 32,000
b10,000 10,000 10,000
31,200 31,200 31,200
c2,200 2,200 2,200
3,200 3,200 3,200
380,000 380,000 44,200 44,200 382,200 382,200 78,600 103,200 303,600 279,000
Correct! Correct! Correct! Correct! Correct! Correct!
24,600 24,600
103,200 103,200 303,600 303,600
Correct! Correct! Correct! Correct!
Balance Sheet
Supplies Expense
Problem 05.01A
McGraw-Hill/Irwin
Instructor
Month Ended January 31, 2013
Worksheet (Partial)
DUMAS COMPANY
Income
Trial Balance
Adjusted
John Dumas, Capital
Trial Balance
Adjustments
Statement
Net Income
Totals
Utilities Expense
Depreciation Expense – Equipment
Salaries Expense
Insurance Expense
Accounts Payable
Accounts Receivable
Cash
Accumulated Dep. – Equipment
Equipment
Prepaid Insurance
Supplies
Fees Income
John Dumas, Drawing
104,000
20,800
38,400
60,000
108,000
24,800
252,000
14,400
103,200
31,200
3,200
380,000 380,000
6,400$
10,000$
2,200$
Totals
Utilities Expense
c. Depreciation expense for the period
b. Expired insurance
a. Supplies on hand at end of month
Given Data P05.01A:
Adjustments
Month Ended January 31, 2013
Worksheet (Partial)
DUMAS COMPANY
Trial Balance
Fees Income
John Dumas, Drawing
John Dumas, Capital
Accounts Payable
Supplies Expense
Salaries Expense
Insurance Expense
Depreciation Expense – Equipment
Accounts Receivable
Cash
Accumulated Dep. – Equipment
Equipment
Prepaid Insurance
Supplies
Student Name:
Class:
Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
45,150 45,150
6,624 6,624
12,000 a 4,800 7,200
42,000 b 6,000 36,000
54,000 54,000
c1,400 1,400
16,000 16,000
81,674 81,674
6,000 6,000
84,000 84,000
– c 1,400 1,400
– b 6,000 6,000
15,000 15,000
– a 4,800 4,800
900 900
181,674 181,674 12,200 12,200 183,074 183,074
Correct! Correct! Correct! Correct! Correct! Correct!
Statement
Adjusted
Month Ended November 30, 2013
Worksheet (partial)
Salaries Expense
Rent Expense
Depreciation Expense – Equipment
Fees Income
Instructor
Balance Sheet
Income
Trial Balance
Adjustments
Trial Balance
Julie Acker, Drawing
Julie Acker, Capital
Accounts Payable
Accumulated Dep. – Equipment
THE UNIVERSITY BOOKSTORE
Net Income
Totals
Utilities Expense
Supplies Expense
Cash
Problem 05.02A
McGraw-Hill/Irwin
Equipment
Prepaid Rent
Supplies
Accounts Receivable
Given Data P05.02A:
Cash 45,150
Accounts Receivable 6,624
Supplies 7,200
Prepaid Rent 36,000
Equipment 54,000
Accumulated Dep. – Equipment 1,400
Accounts Payable 16,000
Julie Acker, Capital 81,674
Julie Acker, Drawing 6,000
Fees Income 84,000
Depreciation Expense – Equipment 1,400
Rent Expense 6,000
Salaries Expense 15,000
Supplies Expense 4,800
Utilities Expense 900
Totals 183,074 183,074
a. Supplies used during the month 4,800$
b. Expired rent for the month 6,000$
c. Depreciation expense for the month 1,400$
Adjustments Already Made
THE UNIVERSITY BOOKSTORE
Adjusted Trial Balance
November 30, 2013
Adjusted Trial Balance
Student Name:
Class:
Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
35,500 35,500 35,500
12,600 12,600 12,600
7,750 a 6,650 1,100 1,100
8,400 b 2,100 6,300 6,300
19,200 c 1,600 17,600 17,600
21,600 21,600 21,600
d180 180 180
15,550 15,550 15,550
60,000 60,000 60,000
7,000 7,000 7,000
47,600 47,600 47,600
b 2,100 2,100 2,100
d180 180 180
c 1,600 1,600 1,600
9,700 9,700 9,700
a 6,650 6,650 6,650
1,400 1,400 1,400
123,150 123,150 10,530 10,530 123,330 123,330 21,630 47,600 101,700 75,730
Correct! Correct! Correct! Correct! Correct! Correct!
25,970 25,970
47,600 47,600 101,700 101,700
Correct! Correct! Correct! Correct!
Adjusted
Rent Expense
Depreciation Expense – Equip.
Balance Sheet
Income
Trial Balance
Adjustments
Trial Balance
Statement
Problem 05.04A
McGraw-Hill/Irwin
Instructor
Month Ended January 31, 2013
Worksheet
PALMER CREATIVE DESIGNS
Cash
Accounts Payable
Accumulated Dep. – Equip.
Equipment
Prepaid Rent
Net Income
Totals
Utilities Expense
Prepaid Advertising
Supplies
Accounts Receivable
Advertising Expense
Fees Income
Sadie Palmer, Drawing
Sadie Palmer, Capital
Supplies Expense
Salaries Expense
47,600$
9,700$
1,400
6,650
2,100
1,600
180
21,630
25,970$
Correct!
60,000$
25,970$
7,000
18,970
78,970$
Correct!
35,500$
12,600
1,100
6,300
17,600
21,600$
180 21,420
94,520$
Correct!
15,550$
78,970
94,520$
Correct!
PALMER CREATIVE DESIGNS
January 31, 2013
Balance Sheet
PALMER CREATIVE DESIGNS
PALMER CREATIVE DESIGNS
ASSETS
LIABILITIES AND OWNERS’ EQUITY
Total Liabilities and Owner’s Equity
Month Ended January 31, 2013
Income Statement
Month Ended January 31, 2013
Statement of Owner’s Equity
Net Income
Total Expenses
Depreciation Expense – Equipment
Rent Expense
Advertising Expense
Supplies Expense
Fees Income
Revenue
Sadie Palmer, Cap., January 31, 2013
Increase in Capital
Less Withdrawals for January
Net Income for January
Sadie Palmer, Cap., January 1, 2013
Utilities Expense
Salaries Expense
Expenses
Total Assets
Less Accum. Depr. – Equip.
Sadie Palmer, Capital
Owner’s Equity
Accounts Payable
Liabilities
Accounts Receivable
Cash
Equipment
Prepaid Rent
Prepaid Advertising
Supplies
Page 3
Adjusting Entries Post
Date Ref Debit Credit
2013
Jan. 31 517 6,650
121 6,650 Correct!
31 519 2,100
130 2,100 Correct!
31 520 1,600
131 1,600 Correct!
31 523 180
142 180 Correct!
ACCOUNT ACCOUNT NO. 121
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 1 J1 7,750 7,750
31 J3 6,650 1,100
Correct!
ACCOUNT ACCOUNT NO. 130
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 1 J1 8,400 8,400
31 J3 2,100 6,300
Correct!
ACCOUNT ACCOUNT NO. 131
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 1 J1 19,200 19,200
31 J3 1,600 17,600
Correct!
ACCOUNT ACCOUNT NO. 142
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 31 J3 180 180
Correct!
Adjusting
Balance
Description
Adjusting
Prepaid Advertising
Prepaid Advertising
Advertising Expense
Rent Expense
GENERAL JOURNAL
Description
GENERAL LEDGER
Balance
Supplies
Accumulated Depreciation – Equipment
Description
Supplies
Supplies Expense
Description
Adjusting
Accumulated Depr. – Equip.
Depreciation Expense – Equipment
Prepaid Rent
Balance
Description
Adjusting
Balance
Prepaid Rent
ACCOUNT ACCOUNT NO. 517
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 31 J3 6,650 6,650
Correct!
ACCOUNT ACCOUNT NO. 519
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 31 J3 2,100 2,100
Correct!
ACCOUNT ACCOUNT NO. 520
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 31 J3 1,600 1,600
Correct!
ACCOUNT ACCOUNT NO. 523
Post
Date Ref Debit Credit Debit Credit
2013
Jan. 31 J3 180 180
Correct!
Adjusting
Depreciation Exp.-Equip.
Balance
Description
Rent Expense
Balance
Description
Adjusting
Adjusting
Advertising Expense
Balance
Description
Description
Adjusting
Balance
Supplies Expense
Account Name Debit Credit
35,500
12,600
7,750
8,400
19,200
21,600
15,550
60,000
7,000
47,600
Statement of Owner’s Equity:
Balance Sheet:
Account Balances:
Supplies Expense
Utilities Expense
Rent Expense
Salaries Expense
Salvage value
Estimated useful life in years
d. Depreciation is computed using straight-line:
c. Rent expired during the month
b. Prepaid advertising covers a four-month period.
a. Inventory of supplies on 1/31/2010.
Given Data P05.04A:
PALMER CREATIVE DESIGNS
Worksheet (Partial)
Month Ended January 31, 2013
Trial Balance
Cash
Accounts Receivable
Supplies
Accounts Payable
Sadie Palmer, Capital
Sadie Palmer, Drawing
Fees Income
Prepaid Advertising
Prepaid Rent
Equipment
Accumulated Dep. – Equip.
Advertising Expense
Depreciation Expense – Equip.
