CHAPTER 4 Completing the Accounting Cycle
Continuing Problem (Continued)
Account No. 22
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 31 Adjusting 3 140 140
Account No. 23
Post.
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 4,000
1 1 5,000 9,000
31 Closing 4 4,955 13,955
31 Closing 4 1,750 12,205
Account No. 32
Post.
Item Ref. Debit Credit Debit Credit
Account: Peyton Smith, Drawing
Balance
Date
Account: Peyton Smith, Capital
Balance
Date
Balance
Unearned Revenue
Account:
Account: Wages Payable
Balance
Date
CHAPTER 4 Completing the Accounting Cycle
Continuing Problem (Continued)
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 6,200
11 1 1,000 7,200
16 2 2,000 9,200
Account No. 50
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 400
14 1 1,200 1,600
28 2 1,200 2,800
31 Adjusting 3 140 2,940
31 Closing 4 2,940 — —
Account No. 51
Post.
Account No. 52
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 675
13 1 700 1,375
31 Closing 4 1,375 — —
Balance
Date
Account: Office Rent Expense
Balance
Account: Equipment Rent Expense
Date
Balance
Wages Expense
Account:
Account: Fees Earned
Balance
Date
CHAPTER 4 Completing the Accounting Cycle
Continuing Problem (Continued)
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 1,590
21 2 620 2,210
31 2 1,400 3,610
31 Closing 4 3,610 — —
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
Account No. 56
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 1 Balance 180
31 Adjusting 3 745 925
31 Closing 4 925 — —
Balance
Date
Account: Advertising Expense
Account: Supplies Expense
Balance
Date
Account: Music Expense
Balance
Date
Account: Utilities Expense
Balance
Date
CHAPTER 4 Completing the Accounting Cycle
Continuing Problem (Continued)
Account No. 57
Post.
Item Ref. Debit Credit Debit Credit
Account No. 58
Post.
Item Ref. Debit Credit Debit Credit
20Y9
July 31 Adjusting 3 50 50
31 Closing 4 50 — —
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
Account: Insurance Expense
Balance
Date
Balance
Date
Account: Depreciation Expense
Balance
Date
Account: Miscellaneous Expense
CHAPTER 4 Completing the Accounting Cycle
Continuing Problem (Concluded)
4.
Account Debit Credit
No. Balances Balances
Cash 11 9,945
Accounts Receivable 12 4,150
Supplies 14 275
Prepaid Insurance 15 2,475
July 31, 20Y9
PS Music
Post-Closing Trial Balance
1. and 2.
Page 5
Post.
Ref. Debit Credit
20Y5
May 3 Cash 11 4,500
Unearned Fees 23 4,500
Cash 11 225
13 Accounts Payable 21 640
Cash 11 640
15 Accounts Receivable 12 9,180
Fees Earned 41 9,180
Date
COMPREHENSIVE PROBLEM 1
JOURNAL
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
Page 6
Post.
Ref. Debit Credit
20Y5
May 20 Supplies 14 735
Accounts Payable 21 735
27 Cash 11 9,520
Accounts Receivable 12 9,520
28 Salary Expense 51 750
Cash 11 750
30 Miscellaneous Expense 59 260
Cash 11 260
31 Miscellaneous Expense 59 810
Cash 11 810
Date
JOURNAL
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
2., 6., and 9.
Account No. 11
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 22,100
3 5 4,500 26,600
5 5 2,450 29,050
9 5 225 28,825
13 5 640 28,185
16 5 750 27,435
17 5 8,360 35,795
Account No. 12
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 3,400
5 5 2,450 950
Account No. 14
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 1,350
20 6 735 2,085
Date
Date
Balance
Balance
Date
Account: Supplies
Cash
Account:
Account: Accounts Receivable
Balance
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
Account No. 15
Post.
Item Ref. Debit Credit Debit Credit
Account No. 16
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 1,500
31 Adjusting 7 275 1,225
Account No. 18
Post.
Item Ref. Debit Credit Debit Credit
Account No. 19
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 330
31 Adjusting 7 330 660
Account No. 21
Post.
Item Ref. Debit Credit Debit Credit
20 6 735 895
Account No. 22
Post.
Balance
Date
Date
Balance
Prepaid Rent
Account:
Account: Prepaid Insurance
Balance
Account: Office Equipment
Balance
Date
Account: Accumulated Depreciation
Balance
Date
Account: Accounts Payable
Balance
Date
Account: Salaries Payable
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
Account No. 23
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 1 Balance 2,500
3 5 4,500 7,000
31 Adjusting 7 3,790 3,210
Account No. 31
Post.
Item Ref. Debit Credit Debit Credit
Account No. 32
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 31 6 10,500 10,500
31 Closing 8 10,500 — —
Account No. 41
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 15 5 9,180 9,180
17 5 8,360 17,540
21 6 4,820 22,360
25 6 7,900 30,260
Balance
Fees Earned
Account:
Date
Date
Account: Kelly Pitney, Drawing
Balance
Balance
Balance
Date
Unearned Fees
Account:
Account: Kelly Pitney, Capital
Date
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
Account No. 51
Post.
Item Ref. Debit Credit Debit Credit
20Y5
Account No. 52
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 31 Adjusting 7 1,600 1,600
31 Closing 8 1,600 — —
Account No. 53
Post.
Item Ref. Debit Credit Debit Credit
Account No. 54
Post.
Item Ref. Debit Credit Debit Credit
20Y5
May 31 Adjusting 7 330 330
31 Closing 8 330 — —
Account No. 55
Post.
Item Ref. Debit Credit Debit Credit
Balance
Date
Account: Depreciation Expense
Balance
Date
Account: Insurance Expense
Date
Account: Rent Expense
Balance
Date
Account: Supplies Expense
Date
Balance
Salary Expense
Account:
Balance
CHAPTER 4 Completing the Accounting Cycle
Comp. Prob. 1 (Continued)
Account No. 59
Post.
Item Ref. Debit Credit Debit Credit
3.
Account Debit Credit
No. Balances Balances
Cash 11 44,195
Accounts Receivable 12 8,080
Supplies 14 2,085
Prepaid Rent 15 3,200
Salaries Payable 22 0
Unearned Fees 23 7,000
Kelly Pitney, Capital 31 42,300
Kelly Pitney, Drawing 32 10,500
Fees Earned 41 36,210
Salary Expense 51 1,380
86,735 86,735
Kelly Consulting
Unadjusted Trial Balance
May 31, 20Y5
Date
Account: Miscellaneous Expense
Balance