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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.
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
Description
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
JOURNAL
Date
2014
Description
Section:
0%
Name:
2014
JOURNAL
Date
27
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
Date
Date
Date
2014
2014
Balance
2014
2014
Date
Balance
Balance
Balance
GENERAL LEDGER
Prepaid Insurance 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 2
30 Adjusting
Office Equipment 18
Post.
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
Capital Stock 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1
Retained Earnings 32
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Closing
30 Closing
Dividends 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30
30 Closing
Income Summary 34
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Closing
30 Closing
Balance
Balance
Balance
Date
2014
Date
Date
2014
Balance
Date
2014
Balance
Balance
2014
Date
Balance
Date
2014
Date
2014
Balance
Balance
2014
Date
Date
2014
2014
Date
2014
Balance
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
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.
Credit
Balances
Cash
Balance
Unadjusted Trial Balance
April 30, 2014
Date
ROSEBUD CONSULTING
Debit
Balances
Balance
2014
2014
Balance
2014
Date
Date
2014
Date
Date
2014
2014
Date
2014
Date
Balance
Balance
Balance
Balance
Accounts Receivable
Unearned Fees
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
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
Capital Stock 50,000
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
30
30
30
30
Adjustments
Balance
Sheet
Trial Balance
Unadjusted Trial Balance
Statement
Adjusted
Income
Capital Stock
Salaries Payable
Prepaid Insurance
Accumulated Depreciation
Office Equipment
JOURNAL
ROSEBUD CONSULTING
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 2014
Date
2014
Adjusting Entries
Description
Accounts Payable
Supplies
Prepaid Rent
Dividends
7.
Accounts Receivable
Unearned Fees
Fees Earned
Salary Expense
Supplies Expense
Rent Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
8.
Net income
Current assets: Current liabilities:
Total liabilities
Total current assets
Property, plant, and equipment:
Total property, plant, and equipment
Total assets
Total liabilities and stockholders' equity
ROSEBUD CONSULTING
Liabilities
Retained earnings, April 30, 2014
Balance Sheet
Statement of Owner's Equity
ROSEBUD CONSULTING
Total expenses
Accounts Payable
Debit
Balances
Accumulated Depreciation
For the Month Ended April 30, 2014
Revenues:
Total revenues
Expenses:
For the Month Ended April 30, 2014
Retained earnings, April 1, 2014
Supplies
Income Statement
ROSEBUD CONSULTING
Salaries Payable
Capital Stock
Dividends
Office Equipment
Assets
April 30, 2014
ROSEBUD CONSULTING
Adjusted Trial Balance
April 30, 2014
Prepaid Rent
Cash
Credit
Balances
Stockholders' Equity
Prepaid Insurance
9.
Page 4
Post.
Ref. Debit Credit
April 30
30
Miscellaneous Expense
30
30
10.
Accounts Receivable
Unearned Fees
Capital Stock
Date
Closing Entries
2014
Accounts Payable
Salaries Payable
Post-Closing Trial Balance
Debit
Balances
Supplies
Prepaid Rent
ROSEBUD CONSULTING
April 30, 2014
Prepaid Insurance
Retained Earnings
Office Equipment
Accumulated Depreciation
Cash
Credit
Balances
JOURNAL
Description
Problem 4-5B
Solution
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
In the general ledger accounts, only normal balance columns will be graded.
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 11 20,000
Page 2
Post.
Ref. Debit Credit
April 17 11 6,600
Cash
JOURNAL
Date
2014
Name:
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
Description
JOURNAL
Date
2014
Description
Cash
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
Accounts Receivable 12
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 1 1 14,700 14,700
6 1 11,700 3,000
Supplies 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
Prepaid Rent 15
Post.
Item Ref. Dr. Cr. Dr. Cr.
Prepaid Insurance 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
Balance
Balance
Date
Date
Date
2014
Balance
Balance
Date
Balance
2014
GENERAL LEDGER
Date
Retained Earnings 32
Post.
Item Ref. Dr. Cr. Dr. Cr.
April 30 Closing 4 53,775 53,775
Fees Earned 41
Post.
Balance
Date
2014
Balance
Item Ref. Dr. Cr. Dr. Cr.
April 12 1 21,900 21,900
Depreciation Expense 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
3.
43,535 -
ROSEBUD CONSULTING
Unadjusted Trial Balance
2014
Date
April 30, 2014
Cash
Debit
Balances
Credit
Balances
Balance
2014
Date
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 -
6.
Page 3
Post.
Ref. Debit Credit
April 30 55 350
7.
43,535 -
Credit
Balances
Debit
Balances
Adjusted Trial Balance
ROSEBUD CONSULTING
ROSEBUD CONSULTING
April 30, 2014
Cash
JOURNAL
Description
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended April 30, 2014
Adjusted
Date
Sheet
Trial Balance
Statement
Income
Balance
Unadjusted Trial Balance
Adjustments
2014
Adjusting Entries
Insurance Expense
8.
64,550$
Current assets: Current liabilities:
43,535$ 1,600$
9.
Page 4
Post.
Ref. Debit Credit
Liabilities
JOURNAL
Description
Accounts payable
Income Statement
For the Month Ended April 30, 2014
Revenues:
ROSEBUD CONSULTING
For the Month Ended April 30, 2014
ROSEBUD CONSULTING
Balance Sheet
April 30, 2014
ROSEBUD CONSULTING
Fees earned
Retained Earnings Statement
Date
Cash
Assets
10.
43,535 -
ROSEBUD CONSULTING
Cash
Post-Closing Trial Balance
April 30, 2014
Debit
Balances
Credit
Balances
