Accounting Chapter 04 Homework Prepaid Insurance Office Equipment Accumulated Depreciation Accounts

subject Type Homework Help
subject Pages 13
subject Words 2164
subject Textbook Accounting 26th Edition
subject Authors Carl S. Warren, James M. Reeve, Jonathan Duchac
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page-pf1
Item Ref. Dr. Cr. Dr. Cr.
July 1 1 7,500 7,500
5 1 6,500 14,000
Accumulated Depreciation 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
Unearned Fees 23
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 4 1 5,500 5,500
31 Adjusting 3 2,750 2,750
Steffy Lopez, Capital 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
Fees Earned 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 12 1 13,300 13,300
17 2 9,450 22,750
20 2 6,650 29,400
24 2 4,000 33,400
2016
Balance
Date
Date
Date
2016
Date
2016
Date
Balance
Balance
Balance
page-pf2
27 1 1,750 3,500
31 Adjusting 3 175 3,675
31 Closing 4 3,675 - -
Rent Expense 52
Post.
Item Ref. Dr. Cr. Dr. Cr.
Insurance Expense 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 31 Adjusting 3 375 375
31 Closing 4 375 - -
Miscellaneous Expense 59
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 10 1400 400
3.
32,450 -
Accounts Receivable 16,450 -
3,800 -
Fees Earned - 41,600
Salary Expense 3,500 -
Rent Expense - -
Supplies Expense - -
5.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 32,450 - - 32,450 - - - 32,450 -
Accounts Receivable 16,450 - - 16,450 - - - 16,450 -
Adjusted
Unadjusted Trial Balance
Adjustments
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended July 31, 2016
DIAMOND CONSULTING
Sheet
Trial Balance
Statement
Income
Balance
Balance
Date
Date
2016
Debit
Balances
Credit
Balances
Balance
Balance
July 31, 2016
Date
2016
DIAMOND CONSULTING
Unadjusted Trial Balance
page-pf3
Salaries Payable - (d) 175 - 175 - - - 175
Unearned Fees 5,500 (f) 2,750 - - 2,750 - - - 2,750
Steffy Lopez, Capital 45,000 - - - 45,000 - - - 45,000
Steffy Lopez, Drawing 12,500 - - 12,500 - - - 12,500 -
Fees Earned 41,600 - (f) 2,750 - 44,350 - 44,350 - -
6.
Page 3
Post.
Ref. Debit Credit
July 31 55 375
16 375
31 53 2,275
14 2,275
31 54 750
19 750
7.
32,450 -
- 750
- 1,300
- 175
Supplies Expense 2,275 -
Depreciation Expense 750 -
Insurance Expense 375 -
Supplies
Depreciation Expense
Accumulated Depreciation
2016
Adjusting Entries
Date
Insurance Expense
Prepaid Insurance
Supplies Expense
Debit
Balances
Credit
Balances
DIAMOND CONSULTING
Adjusted Trial Balance
July 31, 2016
JOURNAL
Description
page-pf4
3,675$
2,400
2,275
-$
45,000
Current assets: Current liabilities
32,450$ 1,300$
16,450 175
9.
Page 4
Post.
Ref. Debit Credit
July 31 41 44,350
33 44,350
31 33 10,875
51 3,675
52 2,400
10.
32,450 -
Accounts Receivable 16,450 -
1,525 -
For the Month Ended July 31, 2016
Fees Earned
Income Summary
Income Summary
Post-Closing Trial Balance
July 31, 2016
Debit
Balances
Credit
Balances
DIAMOND CONSULTING
Salary Expense
Rent Expense
DIAMOND CONSULTING
Date
2016
Closing Entries
Balance Sheet
July 31, 2016
Statement of Owner's Equity
DIAMOND CONSULTING
Salaries payable
Liabilities
JOURNAL
Description
Accounts payable
page-pf5
Unearned Fees - 2,750
Problem 4-5B
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.
For correct grading in the trial balances and work sheet, enter a zero in cells you would otherwise leave blank.
1. and 2.
Page 1
Post.
Ref. Debit Credit
April 1
1
2
4
5
6
10
12
12
14
Page 2
Post.
Ref. Debit Credit
April 17
18
20
24
26
27
Description
Description
2
Cells with non-gray backgrounds are protected and cannot be edited.
Section:
0%
2016
JOURNAL
Date
Name:
JOURNAL
Date
2016
29
30
30
30
30
2., 6., and 9.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
1
2
4
6
10
12
14
17
18
24
26
27
29
30
30
30
Accounts Receivable 12
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
6
12
20
26
30
Supplies 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
18
30 Adjusting
Prepaid Rent 15
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
30 Adjusting
Prepaid Insurance 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 2
30 Adjusting
Office Equipment 18
Post.
Balance
GENERAL LEDGER
Balance
Date
2016
Date
2016
Date
2016
Balance
Date
2016
2016
Date
Balance
Balance
Balance
Item Ref. Dr. Cr. Dr. Cr.
April 1
5
Accumulated Depreciation 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 5
12
Salaries Payable 22
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
Unearned Fees 23
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 4
30 Adjusting
Jeff Horton, Capital 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
30 Closing
30 Closing
Jeff Horton, Drawing 32
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30
30 Closing
Balance
Balance
2016
Date
2016
Date
2016
Date
2016
Balance
Balance
Date
Balance
Date
2016
2016
Balance
Date
2016
Date
Income Summary 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Closing
30 Closing
30 Closing
Fees Earned 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 12
17
20
24
30
30
30 Adjusting
30 Closing
Salary Expense 51
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 14
27
30 Adjusting
30 Closing
Supplies Expense 52
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
30 Closing
Rent Expense 53
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
30 Closing
Balance
Balance
Balance
2016
Date
Date
2016
2016
Date
Date
Balance
Balance
2016
Date
2016
Depreciation Expense 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
30 Closing
Insurance Expense 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting
30 Closing
Miscellaneous Expense 59
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 10
29
30
30 Closing
3.
Accounts Receivable
Unearned Fees
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
Debit
Balances
Credit
Balances
2016
ROSEBUD ONE CONSULTING
Balance
Unadjusted Trial Balance
April 30, 2016
Date
Date
Date
2016
Balance
2016
Balance
5.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
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
Jeff Horton, Capital 50,000
Jeff Horton, Drawing 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
30
30
30
30
7.
Accounts Receivable
Unearned Fees
Fees Earned
Salary Expense
Supplies Expense
Rent Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
JOURNAL
Description
Balance
Sheet
Trial Balance
Unadjusted Trial Balance
Statement
Adjusted
Income
Debit
Balances
Adjustments
ROSEBUD ONE CONSULTING
Adjusted Trial Balance
April 30, 2016
Credit
Balances
ROSEBUD ONE CONSULTING
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 2016
Date
2016
Adjusting Entries
8.
Net income
Total
Current assets: Current liabilities
Total liabilities
Total current assets
Property, plant, and equipment:
Total property, plant, and equipment
Total assets Total liabilities and owner's equity
For the Month Ended April 30, 2016
Balance Sheet
Statement of Owner's Equity
ROSEBUD ONE CONSULTING
ROSEBUD ONE CONSULTING
For the Month Ended April 30, 2016
ROSEBUD ONE CONSULTING
Income Statement
Owner's Equity
April 30, 2016
Liabilities
9.
Page 4
Post.
Ref. Debit Credit
April 30
30
Miscellaneous Expense
30
30
10.
Accounts Receivable
Unearned Fees
Description
JOURNAL
2016
April 30, 2016
Debit
Balances
Credit
Balances
ROSEBUD ONE CONSULTING
Post-Closing Trial Balance
Date
Closing Entries
page-pfe
Problem 4-5B
Solution
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
In the general ledger accounts, only normal balance columns will be graded.
For correct grading in the trial balances and work sheet, enter a zero in cells you would otherwise leave blank.
1. and 2.
Page 1
Post.
Ref. Debit Credit
April 111 20,000
12 14,700
115 6,000
11 6,000
216 4,200
11 4,200
12 21 6,400
11 6,400
12 12 21,900
41 21,900
Page 2
Post.
Ref. Debit Credit
April 17 11 6,600
41 6,600
24 11 4,450
41 4,450
An asterisk (*) will appear to the right of an incorrect entry.
Description
JOURNAL
Date
2016
Cash
Accounts Receivable
Prepaid Rent
Fees Earned
Cash
Name:
Cash
Prepaid Insurance
Cash
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
Fees Earned
Cash
JOURNAL
Date
2016
Description
Cash
Accounts Receivable
Fees Earned
Accounts Payable
page-pff
29 59 540
11 540
30 59 760
11 760
2., 6., and 9.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1 1 20,000 20,000
1 1 6,000 14,000
24 2 4,450 32,825
26 2 26,500 59,325
27 2 1,650 57,675
Accounts Receivable 12
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1 1 14,700 14,700
6 1 11,700 3,000
12 1 21,900 24,900
Supplies 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1 1 3,300 3,300
Prepaid Rent 15
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1 1 6,000 6,000
30 Adjusting 3 2,000 4,000
Prepaid Insurance 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
Office Equipment 18
Post.
Date
2016
Balance
Balance
Date
Date
2016
Date
Date
2016
2016
Balance
Balance
Balance
Balance
Miscellaneous Expense
Cash
Miscellaneous Expense
Cash
GENERAL LEDGER
page-pf10
Item Ref. Dr. Cr. Dr. Cr.
Accumulated Depreciation 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting 3 400 400
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
Unearned Fees 23
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 4 1 9,400 9,400
30 Adjusting 3 7,050 2,350
Jeff Horton, Capital 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
Income Summary 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Closing 4 64,550 64,550
30 Closing 4 10,775 53,775
30 Closing 4 53,775 - -
Fees Earned 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 12 1 21,900 21,900
17 2 6,600 28,500
Salary Expense 51
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 14 1 1,650 1,650
2016
Balance
Date
Date
2016
Date
Date
Balance
Balance
Balance
2016
Date
2016
Balance
Date
Balance
Date
2016
2016
Balance
Date
page-pf11
Rent Expense 53
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Adjusting 3 2,000 2,000
30 Closing 4 2,000 - -
Depreciation Expense 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
Miscellaneous Expense 59
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 10 1350 350
29 2540 890
30 2760 1,650
30 Closing 4 1,650 - -
3.
43,535 -
Fees Earned - 57,500
Salary Expense 3,300 -
Rent Expense - -
Supplies Expense - -
Depreciation Expense - -
5.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 43,535 - - 43,535 - - - 43,535 -
Accounts Receivable 17,790 - - 17,790 - - - 17,790 -
Unadjusted Trial Balance
Date
2016
Date
Date
2016
ROSEBUD ONE CONSULTING
Unadjusted Trial Balance
Adjustments
Sheet
Trial Balance
Statement
Income
Balance
Adjusted
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 2016
April 30, 2016
Debit
Balances
Credit
Balances
ROSEBUD ONE CONSULTING
Balance
Balance
Balance
page-pf12
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
Rent Expense (b) 2,000 - 2,000 - 2,000 - - -
Depreciation Expense (c) 400 - 400 - 400 - - -
6.
Page 3
Post.
Ref. Debit Credit
April 30 55 350
16 350
30 52 2,800
14 2,800
7.
43,535 -
Accounts Receivable 17,790 -
1,225 -
4,000 -
Supplies Expense 2,800 -
Rent Expense 2,000 -
Depreciation Expense 400 -
Insurance Expense 350 -
Miscellaneous Expense 1,650 -
119,175 119,175
8.
Debit
Balances
Credit
Balances
ROSEBUD ONE CONSULTING
Adjusted Trial Balance
April 30, 2016
Date
JOURNAL
Description
Insurance Expense
Prepaid Insurance
Supplies Expense
Supplies
For the Month Ended April 30, 2016
2016
Adjusting Entries
ROSEBUD ONE CONSULTING
Income Statement
page-pf13
2,800
2,000
400
350
-$
50,000
Current assets: Current liabilities
43,535$ 1,600$
17,790 275
1,225 2,350
9.
Page 4
Post.
Ref. Debit Credit
April 30 41 64,550
33 64,550
30 33 10,775
51 3,575
30 33 53,775
31 53,775
10.
43,535 -
Accounts Receivable 17,790 -
1,225 -
4,000 -
Post-Closing Trial Balance
April 30, 2016
Debit
Balances
Credit
Balances
ROSEBUD ONE CONSULTING
Liabilities
JOURNAL
Description
Accounts payable
Salaries payable
ROSEBUD ONE CONSULTING
Statement of Owner's Equity
Balance Sheet
April 30, 2016
ROSEBUD ONE CONSULTING
For the Month Ended April 30, 2016
Fees Earned
Income Summary
Income Summary
Date
2016
Closing Entries
Unearned fees
Income Summary
Jeff Horton, Capital
Salary Expense

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