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Item Ref. Debit Credit Debit Credit
April 30 Adjusting
Accounts Payable 21
Post.
Item Ref. Debit Credit Debit Credit
April 5
12
Salaries Payable 22
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting
Unearned Fees 23
Post.
Item Ref. Debit Credit Debit Credit
April 4
30 Adjusting
Common Stock 31
Post.
Item Ref. Debit Credit Debit Credit
April 1
Retained Earnings 32
Post.
Item Ref. Debit Credit Debit Credit
April 1 0
30 Closing
30 Closing
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Dividends 33
Post.
Item Ref. Debit Credit Debit Credit
April 30
30 Closing
Fees Earned 41
Post.
Item Ref. Debit Credit Debit Credit
April 12
17
20
24
30
30
30 Adjusting
30 Closing
Salary Expense 51
Post.
Item Ref. Debit Credit Debit Credit
April 14
27
30 Adjusting
30 Closing
Supplies Expense 52
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting
30 Closing
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Rent Expense 53
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting
30 Closing
Balance
Date
20Y6
Depreciation Expense 54
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting
30 Closing
Insurance Expense 55
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting
30 Closing
Miscellaneous Expense 59
Post.
Item Ref. Debit Credit Debit Credit
April 10
29
30
30 Closing
3.
Cash 11
Accounts Receivable 12
Supplies 14
Prepaid Rent 15
Prepaid Insurance 16
Office Equipment 18
Accumulated Depreciation 19
Accounts Payable 21
Salaries Payable 22
Unearned Fees 23
Common Stock 31
Retained Earnings 32
Balance
Date
20Y6
Balance
Date
20Y6
Acct.
No.
Debit
Balances
Credit
Balances
Balance
Date
20Y6
Rosebud Consulting
Unadjusted Trial Balance
April 30, 20Y6
Dividends 33
Fees Earned 41
Salary Expense 51
Supplies Expense 52
Rent Expense 53
Depreciation Expense 54
Insurance Expense 55
Miscellaneous Expense 59
5.
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 43,535
Accounts Receivable 17,790
Supplies 4,025
Prepaid Rent 6,000
Prepaid Insurance 4,200
Office Equipment 20,000
Accum. Depreciation -
Accounts Payable 1,600
Salaries Payable -
Unearned Fees 9,400
Common Stock 50,000
Retained Earnings -
Dividends 18,000
Fees Earned 57,500
Salary Expense 3,300
Supplies Expense -
Rent Expense -
Depreciation Expense -
Insurance Expense -
Miscellaneous Expense 1,650
118,500 118,500
6.
Page 3
Post.
Ref. Debit Credit
April 30
30
Rosebud Consulting
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 20Y6
JOURNAL
Date
Description
20Y6
Adjusting Entries
Adjusted
Income
Balance
Unadjusted Trial Balance
Adjustments
Trial Balance
Statement
Sheet
30
30
30
30
7.
Cash 11
Accounts Receivable 12
Supplies 14
Prepaid Rent 15
Prepaid Insurance 16
Office Equipment 18
Accumulated Depreciation 19
Accounts Payable 21
Salaries Payable 22
Unearned Fees 23
Common Stock 31
Retained Earnings 32
Dividends 33
Fees Earned 41
Salary Expense 51
Supplies Expense 52
Rent Expense 53
Depreciation Expense 54
Insurance Expense 55
Miscellaneous Expense 59
Rosebud Consulting
Adjusted Trial Balance
April 30, 20Y6
Acct.
No.
Debit
Balances
Credit
Balances
8.
Net income
Common
Stock
Retained
Earnings
Total
Balances, April 1, 20Y6
Issued common stock
Net income
Dividends
Balances, April 30, 20Y6
Current assets:
Total current assets
Property, plant, and equipment:
Income Statement
For the Month Ended April 30, 20Y6
Revenues:
Expenses:
Rosebud Consulting
Total expenses
Rosebud Consulting
Statement of Stockholders' Equity
For the Month Ended April 30, 20Y6
Rosebud Consulting
Balance Sheet
April 30, 20Y6
Assets
Total property, plant, and equipment
Total assets
Current liabilities:
Total liabilities
Total stockholders' equity
Total liabilities and stockholders' equity
Liabilities
Stockholders' Equity
9.
Page 4
Post.
Ref. Debit Credit
April 30
30
10.
Cash 11
Accounts Receivable 12
Supplies 14
Prepaid Rent 15
Prepaid Insurance 16
Office Equipment 18
Accumulated Depreciation 19
Accounts Payable 21
Salaries Payable 22
Unearned Fees 23
Common Stock 31
Retained Earnings 32
20Y6
Closing Entries
JOURNAL
Date
Description
Rosebud Consulting
Post-Closing Trial Balance
April 30, 20Y6
Acct. No.
Debit
Balances
Credit
Balances
Problem 4-5B
Score:
Key Code:
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.
1. and 2.
Page 1
Post.
Ref. Debit Credit
April 1 11 20,000
12 14,700
14 3,300
18 12,000
31 50,000
115 6,000
11 6,000
216 4,200
11 4,200
411 9,400
23 9,400
518 8,000
11 725
20 12 16,800
41 16,800
24 11 4,450
41 4,450
26 11 26,500
12 26,500
An asterisk (*) will appear to the right of an incorrect entry.
JOURNAL
Date
Description
20Y6
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Cash
Prepaid Insurance
Cash
Cash
Unearned Fees
Office Equipment
Cash
Accounts Receivable
Supplies
Office Equipment
Common Stock
Prepaid Rent
Cash
Accounts Receivable
Fees Earned
Cash
Fees Earned
Cash
Accounts Receivable
29 59 540
11 540
30 59 760
11 760
30 11 5,160
41 5,160
30 12 2,590
41 2,590
2 1 4,200 9,800
4 1 9,400 19,200
6 1 11,700 30,900
10 1350 30,550
12 1 6,400 24,150
14 1 1,650 22,500
17 2 6,600 29,100
18 2725 28,375
24 2 4,450 32,825
26 2 26,500 59,325
27 2 1,650 57,675
29 2540 57,135
30 2760 56,375
30 2 5,160 61,535
30 2 18,000 43,535
Accounts Receivable 12
Post.
Item Ref. Debit Credit Debit Credit
April 1 1 14,700 14,700
6 1 11,700 3,000
12 1 21,900 24,900
20 2 16,800 41,700
26 2 26,500 15,200
30 2 2,590 17,790
Supplies 14
Post.
Item Ref. Debit Credit Debit Credit
April 1 1 3,300 3,300
18 2725 4,025
30 Adjusting 3 2,800 1,225
Prepaid Rent 15
Post.
Item Ref. Debit Credit Debit Credit
April 1 1 6,000 6,000
30 Adjusting 3 2,000 4,000
Prepaid Insurance 16
Post.
Item Ref. Debit Credit Debit Credit
April 2 1 4,200 4,200
30 Adjusting 3 350 3,850
Office Equipment 18
Post.
Item Ref. Debit Credit Debit Credit
April 1 1 12,000 12,000
5 1 8,000 20,000
Miscellaneous Expense
Cash
Cash
Fees Earned
Accounts Receivable
Fees Earned
Miscellaneous Expense
Cash
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Accumulated Depreciation 19
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting 3 400 400
Accounts Payable 21
Post.
Item Ref. Debit Credit Debit Credit
April 5 1 8,000 8,000
12 1 6,400 1,600
Salaries Payable 22
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting 3 275 275
Unearned Fees 23
Post.
Item Ref. Debit Credit Debit Credit
April 4 1 9,400 9,400
30 Adjusting 3 7,050 2,350
Common Stock 31
Post.
Item Ref. Debit Credit Debit Credit
April 1 1 50,000 50,000
Retained Earnings 32
Post.
Item Ref. Debit Credit Debit Credit
April 1 Balance 0
30 Closing 4 53,775 53,775
30 Closing 4 18,000 35,775
Dividends 33
Post.
Item Ref. Debit Credit Debit Credit
April 30 2 18,000 18,000
30 Closing 4 18,000 - -
Fees Earned 41
Post.
Item Ref. Debit Credit Debit Credit
April 12 1 21,900 21,900
17 2 6,600 28,500
20 2 16,800 45,300
24 2 4,450 49,750
30 2 5,160 54,910
30 2 2,590 57,500
30 Adjusting 3 7,050 64,550
30 Closing 4 64,550 - -
Salary Expense 51
Post.
Item Ref. Debit Credit Debit Credit
April 14 1 1,650 1,650
27 2 1,650 3,300
30 Adjusting 3 275 3,575
30 Closing 4 3,575 - -
Supplies Expense 52
Post.
Item Ref. Debit Credit Debit Credit
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
Balance
Date
20Y6
April 30 Adjusting 3 2,800 2,800
30 Closing 4 2,800 - -
Rent Expense 53
Post.
Item Ref. Debit Credit Debit Credit
April 30 Adjusting 3 2,000 2,000
30 Closing 4 2,000 - -
Depreciation Expense 54
Post.
Item Ref. Debit Credit Debit Credit
30 Closing 4 400 - -
Insurance Expense 55
Post.
April 30 Adjusting 3 350 350
30 Closing 4 350 - -
Miscellaneous Expense 59
Post.
Item Ref. Debit Credit Debit Credit
April 10 1350 350
29 2540 890
30 2760 1,650
30 Closing 4 1,650 - -
Cash 11 43,535 -
Accounts Receivable 12 17,790 -
Supplies 14 4,025 -
Prepaid Rent 15 6,000 -
Prepaid Insurance 16 4,200 -
Office Equipment 18 20,000 -
Accumulated Depreciation 19 - -
Accounts Payable 21 - 1,600
Salaries Payable 22 - -
Unearned Fees 23 - 9,400
Common Stock 31 - 50,000
Retained Earnings 32 - -
Dividends 33 18,000 -
Fees Earned 41 - 57,500
Salary Expense 51 3,300 -
Supplies Expense 52 - -
Rent Expense 53 - -
Depreciation Expense 54 - -
Insurance Expense 55 - -
Miscellaneous Expense 59 1,650 -
118,500 118,500
5.
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 43,535 - - 43,535 - - - 43,535 -
Accounts Receivable 17,790 - - 17,790 - - - 17,790 -
Supplies 4,025 - (b) 2,800 1,225 - - - 1,225 -
Prepaid Rent 6,000 - (e) 2,000 4,000 - - - 4,000 -
Prepaid Insurance 4,200 - (a) 350 3,850 - - - 3,850 -
Office Equipment 20,000 - - 20,000 - - - 20,000 -
Accum. Depreciation - - (c) 400 - 400 - - - 400
Accounts Payable 1,600 - - - 1,600 - - - 1,600
Salaries Payable - - (d) 275 - 275 - - - 275
Unearned Fees 9,400 (f) 7,050 - - 2,350 - - - 2,350
Balance
Date
20Y6
Balance
20Y6
Balance
Date
20Y6
Acct.
No.
Debit
Balances
Credit
Balances
Rosebud Consulting
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 20Y6
Balance
Date
20Y6
Unadjusted Trial Balance
April 30, 20Y6
Adjusted
Income
Balance
Unadjusted Trial Balance
Adjustments
Trial Balance
Statement
Sheet
Dividends 18,000 - - 18,000 - - - 18,000 -
Fees Earned 57,500 - (f) 7,050 - 64,550 - 64,550 - -
Salary Expense 3,300 (d) 275 - 3,575 - 3,575 - - -
Supplies Expense - (b) 2,800 - 2,800 - 2,800 - - -
Rent Expense - (e) 2,000 - 2,000 - 2,000 - - -
Depreciation Expense - (c) 400 - 400 - 400 - - -
Insurance Expense - (a) 350 - 350 - 350 - - -
Miscellaneous Expense 1,650 - - 1,650 - 1,650 - - -
118,500 118,500 12,875 12,875 119,175 119,175 10,775 64,550 108,400 54,625
Net income 53,775 - - 53,775
64,550 64,550 108,400 108,400
6.
Page 3
Post.
Ref. Debit Credit
April 30 55 350
16 350
30 52 2,800
14 2,800
30 54 400
19 400
Supplies 14 1,225 -
Prepaid Rent 15 4,000 -
Prepaid Insurance 16 3,850 -
Office Equipment 18 20,000 -
Accumulated Depreciation 19 - 400
Accounts Payable 21 - 1,600
Salaries Payable 22 - 275
3,575$
2,800
2,000
400
350
1,650
(10,775)
Net income 53,775$
JOURNAL
Date
Description
20Y6
Adjusting Entries
Insurance Expense
Prepaid Insurance
Supplies Expense
Supplies
Depreciation Expense
Accumulated Depreciation
Expenses:
Total expenses
Salary expense
Supplies expense
Rent expense
Depreciation expense
Insurance expense
Miscellaneous expense
Common
Stock
Retained
Earnings
Total
Balances, April 1, 20Y6 -$ -$ -$
Issued common stock 50,000 - 50,000
Net income - 53,775 53,775
Dividends - (18,000) (18,000)
Balances, April 30, 20Y6 50,000$ 35,775$ 85,775$
Total property, plant, and equipment
19,600
Total assets 90,000$
Current liabilities:
1,600$
9.
Page 4
Post.
Ref. Debit Credit
April 30 41 64,550
51 3,575
53 2,000
Depreciation Expense 54 400
Insurance Expense 55 350
59 1,650
32 53,775
Prepaid Rent 15 4,000 -
Prepaid Insurance 16 3,850 -
Office Equipment 18 20,000 -
Accumulated Depreciation 19 - 400
Accounts Payable 21 - 1,600
Salaries Payable 22 - 275
Unearned Fees 23 - 2,350
Common Stock 31 - 50,000
Rosebud Consulting
Statement of Stockholders' Equity
For the Month Ended April 30, 20Y6
Rosebud Consulting
Balance Sheet
Liabilities
Accounts payable
April 30, 20Y6
20Y6
Closing Entries
Fees Earned
Salary Expense
Rent Expense
JOURNAL
Date
Description
Miscellaneous Expense
Retained Earnings
Retained Earnings 32 - 35,775
90,400 90,400
