31
Adjusted Bal.
57,350
Aug. 31 Balance 7,800
Aug. 31
Adjusting
2,200
Aug. 31 Balance 15,000
Aug. 31 Closing 2,400 Aug. 31 Balance 80,000
31 Closing 27,350
31
Closing Bal.
104,950
Wages Expense
Aug. 31 Balance 43,200 Aug. 31 Closing 43,200
Aug. 31 Balance 16,000 Aug. 31 Closing 16,000
Aug. 31 Adjusting 8,150 Aug. 31 Closing 8,150
Cash
Laundry Supplies
Prepaid Insurance
La Mesa Laundry
August 31, 20Y5
180,800 –
– 57,350
Accounts Payable – 7,800
– 2,200
Common Stock – 15,000
Retained Earnings – 80,000
Dividends 2,400 –
Laundry Revenue
Rent Expense
Utilities Expense
Depreciation Expense
Accounts Payable
Wages Payable
Common Stock
Retained Earnings
Laundry Equipment
Accumulated Depreciation
Wages Payable
Laundry Supplies Expense 7,000 –
Insurance Expense 5,300 –
Miscellaneous Expense 3,000 –
410,350 410,350
5.
43,200
16,000
8,150
7,000
5,300
3,000
(220,650)
Net income 27,350$
Wages expense
Laundry revenue
Expenses:
La Mesa Laundry
For the Year Ended August 31, 20Y5
Dividends – (2,400) (2,400)
Balances, August 31, 20Y5 15,000$ 104,950$ 119,950$
Cash
Laundry supplies
Prepaid insurance
Total current assets 6,500$
Property, plant, and equipment:
180,800$
(57,350)
Total property, plant, and equipment
123,450
Total assets 129,950$
Current liabilities:
7,800$
2,200
Total liabilities 10,000$
Common stock
Retained earnings
Laundry Revenue
Wages Expense
Rent Expense
Utilities Expense
8,150
7,000
5,300
Miscellaneous Expense 3,000
27,350
31 2,400
Dividends
Rent expense
Utilities expense
Depreciation expense
Laundry supplies expense
Insurance expense
La Mesa Laundry
Income Statement
For the Year Ended August 31, 20Y5
Revenues:
Balance Sheet
August 31, 20Y5
Miscellaneous expense
Total expenses
La Mesa Laundry
Laundry equipment
Accumulated depreciation
Liabilities
Accounts payable
Wages payable
Insurance Expense
Retained Earnings
Retained Earnings
Depreciation Expense
Laundry Supplies Expense
3,800 –
2,000 –
700 –
180,800 –
– 57,350
Accounts Payable – 7,800
– 2,200
Common Stock – 15,000
Retained Earnings – 104,950
187,300 187,300
Laundry Equipment
Accumulated Depreciation
Wages Payable
August 31, 20Y5
Debit
Balances
Credit
Balances
Cash
Laundry Supplies
Prepaid Insurance
Problem 4-4A
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 otherwise leave blank.
2.
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 12,000
Supplies 30,000
Prepaid Insurance 3,600
Equipment 110,000
Accum. Depr. – Equip. 25,000
Trucks 60,000
Accum. Depr. – Trucks 15,000
Accounts Payable 4,000
Wages Payable
Common Stock 26,000
Retained Earnings 70,000
Dividends 15,000
Service Revenue 160,000
Wages Expense 45,000
Supplies Expense
Rent Expense 10,600
Truck Expense 9,000
Depr. Exp. – Equipment
Depr. Exp. – Trucks
Insurance Expense
Miscellaneous Expense 4,800
300,000 300,000
Name:
Section:
0%
Statement
Sheet
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Lakota Freight Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended March 31, 20Y4
Adjusted
Income
Balance
Unadjusted Trial Balance
Adjustments
Trial Balance
3.
Page 26
Post.
Ref. Debit Credit
Mar. 31
31
31
31
31
1., 3., and 6.
Cash
11
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √12,000
Supplies 13
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √30,000
31 Adjusting
Post.
Date
Mar. 31 Balance √3,600
31 Adjusting
JOURNAL
Date
Description
20Y4
Adjusting Entries
GENERAL LEDGER
Balance
Date
20Y4
Balance
Date
20Y4
Balance
20Y4
Equipment 16
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √110,000
Accumulated Depreciation – Equipment 17
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √25,000
31 Adjusting
Post.
Date
Mar. 31 Balance √60,000
Accumulated Depreciation – Trucks 19
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √15,000
31 Adjusting
Accounts Payable 21
Post.
Date
Mar. 31 Balance √4,000
Wages Payable 22
Post.
Item Ref. Debit Credit Debit Credit
Balance
Date
20Y4
Balance
Date
20Y4
Balance
20Y4
Balance
Date
Balance
20Y4
Balance
Date
20Y4
Common Stock 31
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √26,000
Retained Earnings 32
Post.
Balance
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √70,000
31 Closing
31 Closing
Dividends 33
Post.
Balance
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √15,000
31 Closing
Service Revenue 41
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √160,000
31 Closing
Post.
Date
Mar. 31 Balance √45,000
31 Adjusting
31 Closing
Supplies Expense 52
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Date
20Y4
Balance
20Y4
Balance
Date
20Y4
31 Closing
Rent Expense 53
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √10,600
31 Closing
Truck Expense 54
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √9,000
31 Closing
Balance
Date
20Y4
Balance
Date
20Y4
Depreciation Expense – Equipment 55
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting
31 Closing
Depreciation Expense – Trucks
56
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting
31 Closing
Insurance Expense 57
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting
31 Closing
Miscellaneous Expense 59
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √4,800
31 Closing
4.
Cash 11
Supplies 13
Prepaid Insurance 14
Equipment 16
Accumulated Depreciation – Equipment 17
Trucks 18
Accumulated Depreciation – Trucks 19
Accounts Payable 21
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Lakota Freight Co.
Adjusted Trial Balance
March 31, 20Y4
Acct.
No.
Debit
Balances
Credit
Balances
Wages Payable 22
Common Stock 31
Retained Earnings 32
Dividends 33
Service Revenue 41
Wages Expense 51
Supplies Expense 52
Rent Expense 53
Truck Expense 54
Depreciation Expense – Equipment 55
Depreciation Expense – Trucks 56
Insurance Expense 57
Miscellaneous Expense 59
5.
Expenses:
Total expenses
Net income
Common
Stock
Retained
Earnings
Total
Balances, April 1, 20Y3
Issued common stock
Net income
Dividends
Balances, March 31, 20Y4
Current assets:
Total current assets
Property, plant, and equipment:
Book value – equipment
Lakota Freight Co.
Income Statement
For the Year Ended March 31, 20Y4
Revenues:
Lakota Freight Co.
Statement of Stockholders’ Equity
For the Year Ended March 31, 20Y4
Lakota Freight Co.
Balance Sheet
March 31, 20Y4
Assets
Book value – trucks
Total property, plant, and equipment
Total assets
Current liabilities:
Total liabilities
Total stockholders’ equity
Total liabilities and stockholders’ equity
5.
Page 27
Post.
Ref. Debit Credit
Mar. 31
31
7.
Cash 11
Supplies 13
Liabilities
20Y4
Closing Entries
Stockholders’ Equity
JOURNAL
Date
Description
Lakota Freight Co.
Post-Closing Trial Balance
March 31, 20Y4
Acct.
No.
Debit
Balances
Credit
Balances
Prepaid Insurance 14
Equipment 16
Accumulated Depreciation – Equipment 17
Trucks 18
Accumulated Depreciation – Trucks 19
Accounts Payable 21
Wages Payable 22
Common Stock 31
Retained Earnings 32
Problem 4-4A
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
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 12,000 – – 12,000 – – – 12,000 –
Supplies 30,000 – (a) 22,500 7,500 – – – 7,500 –
Prepaid Insurance 3,600 – (b) 1,800 1,800 – – – 1,800 –
Equipment 110,000 – – 110,000 – – – 110,000 –
Accum. Depr. – Equip. 25,000 – (c) 8,350 – 33,350 – – – 33,350
Trucks 60,000 – – 60,000 – – – 60,000 –
Accum. Depr. – Trucks 15,000 – (d) 6,200 – 21,200 – – – 21,200
Accounts Payable 4,000 – – – 4,000 – – – 4,000
Wages Payable – (e) 600 – 600 – – – 600
Common Stock 26,000 – – – 26,000 – – – 26,000
Retained Earnings 70,000 – – – 70,000 – – – 70,000
Dividends 15,000 – – 15,000 – – – 15,000 –
Service Revenue 160,000 – – – 160,000 – 160,000 – –
Supplies Expense
13 22,500
31 57 1,800
14 1,800
31 54 8,350
17 8,350
31 56 6,200
Cash
Post.
Mar. 31 Balance √12,000
Wages Expense
Wages Payable
Balance
Date
Accumulated Depreciation – Trucks
Supplies 13
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √30,000
31 Adjusting 26 22,500 7,500
Prepaid Insurance 14
Post.
Item Ref. Debit Credit Debit Credit
Name:
Solution
Section:
ON
Statement
Sheet
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Lakota Freight Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended March 31, 20Y4
Adjusted
Income
Balance
Supplies
Unadjusted Trial Balance
Adjustments
Trial Balance
Insurance Expense
Prepaid Insurance
Depreciation Expense – Equipment
Accumulated Depreciation – Equipment
Depreciation Expense – Trucks
Balance
Date
20Y4
Balance
Date
Mar. 31 Balance √3,600
31 Adjusting 26 1,800 1,800
Equipment 16
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √110,000
Accumulated Depreciation – Equipment
17
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √25,000
31 Adjusting 26 8,350 33,350
Trucks 18
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √60,000
Accumulated Depreciation – Trucks 19
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √15,000
31 Adjusting 26 6,200 21,200
Accounts Payable 21
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √4,000
Wages Payable 22
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting 26 600 600
Common Stock 31
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √26,000
Retained Earnings 32
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √70,000
31 Closing 27 51,150 121,150
31 Closing 27 15,000 106,150
Dividends 33
Post.
Balance
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √15,000
31 Closing 27 15,000 – –
Service Revenue 41
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √160,000
31 Closing 27 160,000 – –
Wages Expense 51
Post.
Date
31 Adjusting 26 600 45,600
31 Closing 27 45,600 – –
Balance
Date
20Y4
Balance
Date
20Y4
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
20Y4
Supplies Expense 52
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting 26 22,500 22,500
31 Closing 27 22,500 – –
Rent Expense 53
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √10,600
31 Closing 27 10,600 – –
Truck Expense 54
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √9,000
31 Closing 27 9,000 – –
Depreciation Expense – Equipment 55
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting 26 8,350 8,350
31 Closing 27 8,350 – –
Depreciation Expense – Trucks
56
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting 26 6,200 6,200
31 Closing 27 6,200 – –
Insurance Expense 57
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Adjusting 26 1,800 1,800
31 Closing 27 1,800 – –
Miscellaneous Expense 59
Post.
Item Ref. Debit Credit Debit Credit
Mar. 31 Balance √4,800
31 Closing 27 4,800 – –
4.
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Balance
Date
20Y4
Lakota Freight Co.
Adjusted Trial Balance
Acct.
Debit
Credit
160,000$
Expenses:
45,600$
22,500
10,600
9,000
8,350
6,200
1,800
4,800
Total expenses
(108,850)
Lakota Freight Co.
Dividends – (15,000) (15,000)
Balances, March 31, 20Y4 26,000$ 106,150$ 132,150$
Current assets:
12,000$
7,500
1,800
Total current assets 21,300$
Property, plant, and equipment:
110,000$
(33,350)
Book value – equipment 76,650$
60,000$
(21,200)
Book value – trucks 38,800
Total property, plant, and equipment 115,450
Total assets 136,750$
Accounts payable
Wages payable
Common stock
Retained earnings
Total liabilities and stockholders’ equity 136,750$
6.
Page 27
Post.
Ref. Debit Credit
Mar. 31 41 160,000
51 45,600
52 22,500
53 10,600
54 9,000
55 8,350
56 6,200
57 1,800
59 4,800
Retained Earnings 32 51,150
Lakota Freight Co.
For the Year Ended March 31, 20Y4
Revenues:
Service revenue
Wages expense
Miscellaneous expense
Lakota Freight Co.
Balance Sheet
Supplies expense
Rent expense
Truck expense
Depreciation expense – equipment
Depreciation expense – trucks
Insurance expense
Accumulated depreciation
Trucks
Accumulated depreciation
March 31, 20Y4
Assets
Cash
Supplies
Prepaid insurance
Equipment
20Y4
Closing Entries
Service Revenue
Wages Expense
Supplies Expense
Rent Expense
JOURNAL
Date
Description
Truck Expense
Depreciation Expense – Equipment
Depreciation Expense – Trucks
Insurance Expense
Miscellaneous Expense
Supplies 13 7,500 –
Prepaid Insurance 14 1,800 –
Equipment 16 110,000 –
Accumulated Depreciation – Equipment 17 – 33,350
Trucks 18 60,000 –
Accumulated Depreciation – Trucks 19 – 21,200
Accounts Payable 21 – 4,000
Wages Payable 22 – 600
Common Stock 31 – 26,000
Retained Earnings 32 – 106,150
191,300 191,300
Problem 4-4B
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 otherwise leave blank.
2.
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 13,100
Supplies 8,000
Prepaid Insurance 7,500
Equipment 113,000
Accum. Depr. – Equip. 12,000
Trucks 90,000
Accum. Depr. – Trucks 27,100
Accounts Payable 4,500
Wages Payable
Common Stock 30,000
Retained Earnings 96,400
Dividends 3,000
Service Revenue 155,000
Wages Expense 72,000
Rent Expense 7,600
Truck Expense 5,350
Depr. Exp. – Equipment
Supplies Expense
Depr. Exp. – Trucks
Insurance Expense
Miscellaneous Expense 5,450
325,000 325,000
Name:
Section:
0%
Statement
Sheet
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Recessive Interiors
End-of-Period Spreadsheet (Work Sheet)
For the year Ended January 31, 20Y2
Adjusted
Income
Balance
Unadjusted Trial Balance
Adjustments
Trial Balance
3.
Page 26
Post.
Ref. Debit Credit
Jan. 31
31
31
31
31
1., 3., and 6.
Cash
11
Post.
Item Ref. Debit Credit Debit Credit
Jan. 31 Balance √13,100
Supplies 13
Post.
Item Ref. Debit Credit Debit Credit
Jan. 31 Balance √8,000
31 Adjusting
Prepaid Insurance 14
Post.
Item Ref. Debit Credit Debit Credit
Jan. 31 Balance √7,500
31 Adjusting
JOURNAL
Date
Description
20Y2
Adjusting Entries
GENERAL LEDGER
Balance
Date
20Y2
Balance
Date
20Y2
Balance
Date
20Y2