Exercise 4-21
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
In the work sheet, enter a zero in cells you would otherwise leave blank.
Account Title Debit Credit Debit Credit Debit Credit
Cash 12 – – – 12 –
Accounts Receivable 90 – (a) 13 – 103 –
Supplies 8 – – (b) 4 4 –
Prepaid Insurance 12 – – (c) 10 2 –
Land 190 – – – 190 –
Equipment 50 – – – 50 –
Accum. Depreciation – 4 – (d) 3 – 7
Accounts Payable – 36 – – – 36
Wages Payable – – – (e) 1 – 1
Common Stock – 50 – – – 50
Retained Earnings – 210 – – – 210
Dividends 8 – – – 8 –
Fees Earned – 200 – (a) 13 – 213
Wages Expense 110 – (e) 1 – 111 –
Rent Expense 12 – – – 12 –
Insurance Expense – – (c) 10 – 10 –
Utilities Expense 6 – – – 6 –
Supplies Expense – – (b) 4 – 4 –
Depreciation Expense – – (d) 3 – 3 –
Miscellaneous Expense 2 – – – 2 –
500 500 31 31 517 517
Unadjusted Trial Balance
Adjustments
Trial Balance
Name:
Solution
Section:
ON
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An asterisk (*) will appear to the right of an incorrect entry.
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 20Y3
Adjusted
Exercise 4-22
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
In the work sheet, enter a zero in cells you would otherwise leave blank.
Account Title Debit Credit Debit Credit Debit Credit
Cash 12 –
Accounts Receivable 103 –
Supplies 4 –
Prepaid Insurance 2 –
Land 190 –
Equipment 50 –
Accum. Depreciation – 7
Accounts Payable – 36
Wages Payable – 1
Common Stock – 50
Retained Earnings 210
Dividends 8 –
Fees Earned – 213
Wages Expense 111 –
Rent Expense 12 –
Insurance Expense 10 –
Utilities Expense 6 –
Supplies Expense 4 –
Depreciation Expense 3 –
Miscellaneous Expense 2 –
Totals 517 517
0%
Name:
Section:
Adjusted Trial Balance
Income Statement
Balance Sheet
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 20Y3
Exercise 4-22
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
In the work sheet, enter a zero in cells you would otherwise leave blank.
Account Title Debit Credit Debit Credit Debit Credit
Cash 12 – – – 12 –
Accounts Receivable 103 – – – 103 –
Supplies 4 – – – 4 –
Prepaid Insurance 2 – – – 2 –
Land 190 – – – 190 –
Equipment 50 – – – 50 –
Accum. Depreciation – 7 – – – 7
Accounts Payable – 36 – – – 36
Wages Payable – 1 – – – 1
Common Stock – 50 – – – 50
Retained Earnings 210 – – – 210
Dividends 8 – – – 8 –
Fees Earned – 213 – 213 – –
Wages Expense 111 – 111 – – –
Rent Expense 12 – 12 – – –
Insurance Expense 10 – 10 – – –
Utilities Expense 6 – 6 – – –
Supplies Expense 4 – 4 – – –
Depreciation Expense 3 – 3 – – –
Miscellaneous Expense 2 – 2 – – –
Totals 517 517 148 213 369 304
Net Income 65 – – 65
213 213 369 369
Adjusted Trial Balance
Income Statement
Balance Sheet
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 20Y3
Exercise 4-23
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
For correct grading, enter a zero in cells you would otherwise leave blank.
Name:
Section:
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Total expenses
Net income (loss)
Common
Stock
Retained
Earnings
Total
Balances, November 1, 20Y2
Issued common stock
Net income
Dividends
Balances, October 31, 20Y3
Current assets:
Total current assets
Property, plant, and equipment:
Revenues:
Alert Security Services Co.
Income Statement
For the Year Ended October 31, 20Y3
For the Year Ended October 31, 20Y3
Expenses:
Alert Security Services Co.
Statement of Stockholders’ Equity
Alert Security Services Co.
Balance Sheet
October 31, 20Y3
Assets
Book value – equipment
Total property, plant, and equipment
Total assets
Current liabilities:
Total liabilities
Total stockholders’ equity
Total liabilities and stockholders’ equity
Liabilities
Stockholders’ Equity
Exercise 4-23
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
213$
111$
12
10
6
4
3
2
Total expenses (148)
Net income (loss) 65$
Common
Stock
Retained
Earnings
Total
Current assets:
12$
103
4
Prepaid insurance
50$
(7)
Book value – equipment 43
Total property, plant, and equipment
233
Total assets 354$
Current liabilities:
36$
1
Total liabilities 37$
Name:
Solution
Section:
ON
Insurance expense
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
For correct grading, enter a zero in cells you would otherwise leave blank.
Alert Security Services Co.
Income Statement
For the Year Ended October 31, 20Y3
Revenues:
Fees earned
Expenses:
Wages expense
Rent expense
Cash
Utilities expense
Supplies expense
Depreciation expense
Miscellaneous expense
Alert Security Services Co.
Statement of Stockholders’ Equity
For the Year Ended October 31, 20Y3
Alert Security Services Co.
Balance Sheet
October 31, 20Y3
Assets
Accounts receivable
Supplies
Equipment
Accumulated depreciation
Liabilities
Accounts payable
Wages payable
Stockholders’ Equity
Problem 4-1A
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
For correct grading, enter a zero in cells you would otherwise leave blank.
Name:
Section:
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
1.
Total revenues
Expenses:
Net income (loss)
2.
Common
Stock
Retained
Earnings
Total
Balances, January 1, 20Y5
Issued common stock
Net income
Dividends
Balances, December 31, 20Y5
3.
Current assets:
Revenues:
Beacons Company
Income Statement
For the Year Ended December 31, 20Y5
Total expenses
Beacons Company
Statement of Stockholders’ Equity
For the Year Ended December 31, 20Y5
Beacons Company
Balance Sheet
December 31, 20Y5
Assets
Total current assets
Property, plant, and equipment:
Book value – building
Book value – equipment
Total property, plant, and equipment
Total assets
Current liabilities:
Total liabilities
Total stockholders’ equity
Total liabilities and stockholders’ equity
Liabilities
Stockholders’ Equity
4.
Debit Credit
Dec. 31
Miscellaneous Expense
31
5.
Accounts Receivable
Equipment
Accumulated Depreciation – Equipment
Unearned Rent
Common Stock
JOURNAL
Date
Description
20Y5
Closing Entries
Prepaid Insurance
Beacons Company
Post-Closing Trial Balance
December 31, 20Y5
Debit
Balances
Credit
Balances
Cash
Retained Earnings
Supplies
Land
Building
Accumulated Depreciation – Building
Accounts Payable
Salaries & Wages Payable
Problem 4-1A
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
For correct grading, enter a zero in cells you would otherwise leave blank.
1.
372,800$
1,100
2.
Repairs expense
Salaries and wages expense
Advertising expense
Utilities expense
Depreciation expense – building
Depreciation expense – equipment
Insurance expense
Supplies expense
Miscellaneous expense
Common
Stock
Retained
Earnings
Total
Balances, January 1, 20Y5 50,000$ 128,100$ 178,100$
3.
Current assets:
10,800$
48,000
1,050
Supplies
Building
Accumulated depreciation
Equipment
Accumulated depreciation
Current liabilities:
15,700$
Salaries and wages payable
Unearned rent
4.
Debit Credit
Cells with non-gray backgrounds are protected and cannot be edited.
Name:
Solution
Section:
ON
An asterisk (*) will appear to the right of an incorrect entry.
Beacons Company
Income Statement
For the Year Ended December 31, 20Y5
Revenues:
Fees earned
Rent revenue
Assets
Beacons Company
Statement of Stockholders’ Equity
For the Year Ended December 31, 20Y5
Beacons Company
Balance Sheet
December 31, 20Y5
Cash
Accounts receivable
Prepaid insurance
Liabilities
Accounts payable
JOURNAL
Date
Description
20Y5
Closing Entries
Problem 4-1B
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
For correct grading, enter a zero in cells you would otherwise leave blank.
Name:
Section:
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
1.
Total revenues
Expenses:
Net income (loss)
2.
Common
Stock
Retained
Earnings
Total
Balances, July 1, 20Y2
Issued common stock
Net income (loss)
Dividends
Balances, June 30, 20Y3
3.
Current assets:
Revenues:
Last Chance Company
Income Statement
For the Year Ended June 30, 20Y3
Total expenses
Last Chance Company
Statement of Stockholders’ Equity
For the Year Ended June 30, 20Y3
Last Chance Company
Balance Sheet
June 30, 20Y3
Assets
Total current assets
Property, plant, and equipment:
Book value – building
Book value – equipment
Total property, plant, and equipment
Total assets
Current liabilities:
Total liabilities
Total stockholders’ equity
Total liabilities and stockholders’ equity
Liabilities
Stockholders’ Equity
4.
Debit Credit
June 30
Miscellaneous Expense
30
5.
Accounts Receivable
Equipment
Accumulated Depreciation – Equipment
Unearned Rent
Common Stock
JOURNAL
Date
Description
20Y3
Closing Entries
Prepaid Insurance
Last Chance Company
Post-Closing Trial Balance
June 30, 20Y3
Debit
Balances
Credit
Balances
Cash
Retained Earnings
Supplies
Land
Building
Accumulated Depreciation – Building
Accounts Payable
Salaries & Wages Payable
Problem 4-1B
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
For correct grading, enter a zero in cells you would otherwise leave blank.
1.
283,750$
2.
Rent revenue
Salaries and wages expense
Advertising expense
Utilities expense
Travel expense
Depreciation expense – equipment
Depreciation expense – building
Supplies expense
Insurance expense
Miscellaneous expense
Common
Stock
Retained
Earnings
Total
3.
Current assets:
5,100$
26,500
2,300
Building
Supplies
Accumulated depreciation
Equipment
Accumulated depreciation
Accounts payable
Salaries and wages payable
Unearned rent
4.
Debit Credit
Fees earned
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Last Chance Company
Income Statement
For the Year Ended June 30, 20Y3
Revenues:
Last Chance Company
Statement of Stockholders’ Equity
For the Year Ended June 30, 20Y3
Last Chance Company
Balance Sheet
June 30, 20Y3
Assets
Cash
Accounts receivable
Prepaid insurance
Date
Description
JOURNAL
20Y3
Closing Entries
Problem 4-3A
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
In the general ledger accounts, only normal balance columns will be graded.
In graded sections, enter a zero in cells you would otherwise leave blank.
2.
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 11,000
Laundry Supplies 26,500
Prepaid Insurance 9,600
Laundry Equipment 232,600
Accum. Depreciation 125,400
Accounts Payable 11,800
Wages Payable –
Common Stock 40,000
Retained Earnings 65,600
Dividends 5,000
Laundry Revenue 232,200
Wages Expense 125,200
Rent Expense 40,000
Utilities Expense 19,700
Laundry Supplies Exp. –
Depreciation Expense –
Insurance Expense –
Name:
Section:
0%
Statement
Sheet
(Enter key code here)
Cells with non-gray backgrounds are protected and cannot be edited.
Epicenter Laundry
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended June 30, 20Y6
Adjusted
Income
Balance
Unadjusted Trial Balance
Adjustments
Trial Balance