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 the trial balances and work sheet, enter a zero in cells you would otherwise leave blank.
2.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
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
3.
Page 26
Post.
Ref. Debit Credit
Mar. 31
31
31
31
31
1., 3., and 6.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √12,000
Supplies 13
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √30,000
31 Adjusting
Prepaid Insurance 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √3,600
31 Adjusting
Equipment 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √110,000
Accumulated Depreciation – Equipment 17
Post.
Item Ref. Dr. Cr. Dr. Cr.
for the year Ended March 31, 2016
Name:
Date
2016
2016
[Key code here]
Section:
0%
JOURNAL
Adjusting Entries
End-of-Period Spreadsheet (Work Sheet)
Date
LAKOTA FREIGHT CO.
Cells with non-gray backgrounds are protected and cannot be edited.
Date
Trial Balance
Income
Date
Balance
Balance
Date
Balance
Date
Unadjusted Trial Balance
Adjustments
GENERAL LEDGER
Description
Adjusted
2016
Balance
Sheet
Statement
Balance
Balance
2016
2016
Mar. 31 Balance √25,000
31 Adjusting
Trucks 18
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √60,000
Accumulated Depreciation – Trucks 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √15,000
31 Adjusting
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √4,000
Wages Payable 22
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Adjusting
Common Stock 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √26,000
Retained Earnings 32
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √70,000
31 Closing
31 Closing
Dividends 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √15,000
31 Closing
2016
Balance
Balance
2016
Date
Balance
Date
Balance
Date
2016
Balance
Date
Balance
Date
2016
2016
Date
Date
2016
2016
Balance
2016
Income Summary 34
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Closing
31 Closing
31 Closing
Service Revenue 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √160,000
31 Closing
Wages Expense 51
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √45,000
31 Adjusting
31 Closing
Supplies Expense 52
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Adjusting
31 Closing
Rent Expense 53
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √10,600
31 Closing
Truck Expense 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √9,000
31 Closing
Date
Date
Date
2016
2016
Date
Balance
Date
2016
Balance
2016
Date
Balance
2016
2016
Balance
Balance
Balance
Depreciation Expense – Equipment 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Adjusting
31 Closing
Depreciation Expense – Trucks
56
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Adjusting
31 Closing
Insurance Expense 57
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Adjusting
31 Closing –
Miscellaneous Expense 59
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √4,800
31 Closing
4.
Common Stock
Retained Earnings
Dividends
Service Revenue
Wages Expense
Supplies Expense
Rent Expense
Truck Expense
Depreciation Expense – Equipment
Depreciation Expense – Trucks
Insurance Expense
Miscellaneous Expense
Supplies
Date
2016
Date
Balance
Prepaid Insurance
Equipment
Wages Payable
Trucks
Accounts Payable
Accumulated Depreciation – Equipment
Date
Date
March 31, 2016
2016
2016
2016
LAKOTA FREIGHT CO.
Credit
Balances
Accumulated Depreciation – Trucks
Debit
Balances
Adjusted Trial Balance
Cash
Balance
Balance
Balance
5.
Expenses:
Total expenses
Net income
Current assets: Current liabilities:
Total liabilities
Total current assets
Property, plant, and equipment:
Total stockholders’ equity
Total property, plant, and equipment
Total assets Total liabilities and stockholders’ equity
5.
Page 27
Post.
Ref. Debit Credit
Mar. 31
31
31
31
7.
Accounts Payable
Common Stock
Retained Earnings
Post-Closing Trial Balance
Debit
Balances
Credit
Balances
Date
2016
JOURNAL
For the Year Ended March 31, 2016
March 31, 2016
LAKOTA FREIGHT CO.
Wages Payable
Accumulated Depreciation – Equipment
Supplies
Description
Closing Entries
Trucks
Accumulated Depreciation – Trucks
Cash
Prepaid Insurance
Equipment
Assets
March 31, 2016
For the Year Ended March 31, 2016
Liabilities
LAKOTA FREIGHT CO.
Stockholders’ Equity
Balance Sheet
Revenues:
Retained earnings, March 31, 2016
LAKOTA FREIGHT CO.
Income Statement
Retained earnings, April 1, 2015
Retained Earnings Statement
LAKOTA FREIGHT CO.
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 the trial balances and work sheet, enter a zero in cells you would otherwise leave blank.
2.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
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
3.
Page 26
Post.
Ref. Debit Credit
Wages Payable
Wages Expense
Accumulated Depreciation – Trucks
Depreciation Expense – Trucks
Accumulated Depreciation – Equipment
Depreciation Expense – Equipment
Mar. 31 52 22,500
13 22,500
31 57 1,800
14 1,800
1., 3., and 6.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √12,000
Supplies 13
Post.
Post.
Balance
Date
2016
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √30,000
31 Adjusting 26 22,500 7,500
JOURNAL
ON
Date
Cells with non-gray backgrounds are protected and cannot be edited.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended March 31, 2016
Income
Balance
GENERAL LEDGER
Solution
Name:
Section:
Date
2016
Statement
Sheet
Trial Balance
Unadjusted Trial Balance
Adjusted
Balance
Date
2016
Adjusting Entries
Description
An asterisk (*) will appear to the right of an incorrect entry.
LAKOTA FREIGHT CO.
2016
Balance
Supplies
Supplies Expense
Insurance Expense
Adjustments
Prepaid Insurance
Accumulated Depreciation – Equipment 17
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √25,000
31 Adjusting 26 8,350
33,350
Trucks 18
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √60,000
Accumulated Depreciation – Trucks 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √4,000
Wages Payable 22
Post.
Post.
Date
Balance
2016
Date
2016
Balance
Item Ref. Dr. Cr. Dr. Cr.
Dividends 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √15,000
31 Closing 27 15,000 – –
Income Summary 34
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Closing 27 160,000 160,000
31 Closing 27 108,850 51,150
31 Closing 27 51,150 – –
Service Revenue 41
Post.
Post.
Post.
2016
Balance
Date
2016
Balance
Date
2016
Item Ref. Dr. Cr. Dr. Cr.
Balance
Balance
2016
Balance
Date
Date
2016
2016
Balance
Balance
Date
2016
Date
Balance
Balance
Balance
2016
Date
Date
2016
Date
Date
Truck Expense 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
Mar. 31 Balance √9,000
31 Closing 27 9,000 – –
Depreciation Expense – Equipment 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
Insurance Expense 57
Post.
Item Ref. Dr. Cr. Dr. Cr.
2016
Mar. 31 Adjusting 26 1,800 1,800
31 Closing 27 1,800 – –
Accumulated Depreciation – Trucks
Wages Payable
Depreciation expense – trucks
Truck expense
Insurance expense
Depreciation expense – equipment
Miscellaneous expense
4.
12,000 –
7,500 –
1,800 –
110,000 –
– 33,350
60,000 –
5.
160,000$
Expenses:
45,600$
22,500
10,600
70,000$
51,150$
15,000
36,150
LAKOTA FREIGHT CO.
LAKOTA FREIGHT CO.
Retained Earnings Statement
Wages expense
Increase in retained earnings
Less dividends
Supplies expense
Prepaid Insurance
Service revenue
Revenues:
Equipment
Accumulated Depreciation – Equipment
Trucks
Net income for the year
For the Year Ended March 31, 2016
Retained earnings, April 1, 2015
LAKOTA FREIGHT CO.
Date
2016
Cash
March 31, 2016
Debit
Balances
Adjusted Trial Balance
Supplies
Balance
Balance
Date
2016
Rent expense
Income Statement
For the Year Ended March 31, 2016
Credit
Balances
Balance
Date
Post.
Item Ref. Dr. Cr. Dr. Cr.
Date
2016
Balance
2016
106,150$
Current assets: Current liabilities:
12,000$ 4,000$
7,500 600
6.
Page 27
Post.
Retained Earnings
Retained Earnings
Miscellaneous Expense
Income Summary
Depreciation Expense – Equipment
Depreciation Expense – Trucks
Insurance Expense
Truck Expense
Accumulated Depreciation – Trucks
Wages Payable
Accumulated Depreciation – Equipment
Ref. Debit Credit
Mar. 31 41 160,000
34 160,000
31 34 108,850
51 45,600
52 22,500
53 10,600
7.
12,000 –
7,500 –
1,800 –
110,000 –
Date
Supplies
Description
JOURNAL
Balance Sheet
LAKOTA FREIGHT CO.
Cash
Retained earnings, March 31, 2016
Supplies
Cash
Post-Closing Trial Balance
March 31, 2016
Debit
Balances
Credit
Balances
Income Summary
Income Summary
Rent Expense
Supplies Expense
Wages Expense
2016
Closing Entries
Service Revenue
LAKOTA FREIGHT CO.
Prepaid Insurance
Equipment
Wages payable
Accounts payable
March 31, 2016
Assets
Liabilities
Trucks
Common stock
Retained earnings
Accumulated depreciation
Equipment
Accumulated depreciation
Prepaid insurance
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 the trial balances and work sheet, enter a zero in cells you would otherwise leave blank.
2.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
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
3.
Page 26
Post.
Ref. Debit Credit
Jan. 31
31
31
31
31
1., 3., and 6.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √13,100
Supplies 13
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √8,000
31 Adjusting
Prepaid Insurance 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √7,500
31 Adjusting
Equipment 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √113,000
Accumulated Depreciation – Equipment 17
Post.
Item Ref. Dr. Cr. Dr. Cr.
0%
Sheet
Statement
Trial Balance
JOURNAL
Balance
Adjusting Entries
Adjustments
GENERAL LEDGER
2016
Date
2016
Description
Section:
Balance
Balance
Unadjusted Trial Balance
2016
RECESSIVE INTERIORS
Cells with non-gray backgrounds are protected and cannot be edited.
Date
End-of-Period Spreadsheet (Work Sheet)
Adjusted
Income
[Key code here]
Balance
Date
2016
Balance
Balance
Date
2016
For the year Ended January 31, 2016
Name:
Date
Date
Jan. 31 Balance √12,000
31 Adjusting
Trucks 18
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √90,000
Accumulated Depreciation – Trucks 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √27,100
31 Adjusting
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √4,500
Wages Payable 22
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting
Common Stock 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √30,000
Retained Earnings 32
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √96,400
31 Closing
31 Closing
Dividends 33
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √3,000
31 Closing
2016
Date
Balance
Date
Balance
Date
Balance
Date
2016
2016
2016
2016
2016
Date
2016
Balance
Balance
Date
Date
2016
Balance
Balance
Income Summary 34
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Closing
31 Closing
31 Closing
Service Revenue 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √155,000
31 Closing
Wages Expense 51
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √72,000
31 Adjusting
31 Closing
Rent Expense 52
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √7,600
31 Closing
Truck Expense 53
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √5,350
31 Closing
Depreciation Expense – Equipment 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting
31 Closing
Date
2016
2016
Date
2016
Date
2016
Date
Date
Balance
Balance
Balance
Date
Balance
Balance
2016
Balance
2016
Supplies Expense 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting
31 Closing
Depreciation Expense – Trucks
56
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting
31 Closing
Insurance Expense 57
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting
31 Closing
Miscellaneous Expense 59
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √5,450
31 Closing
4.
Common Stock
Retained Earnings
Dividends
Service Revenue
Wages Expense
Rent Expense
Truck Expense
Depreciation Expense – Equipment
Supplies Expense
Depreciation Expense – Trucks
Insurance Expense
Miscellaneous Expense
Trucks
Prepaid Insurance
Equipment
Wages Payable
Accumulated Depreciation – Trucks
Accounts Payable
Accumulated Depreciation – Equipment
Balance
Date
January 31, 2016
2016
Cash
2016
Credit
Balances
Supplies
Date
2016
Date
Debit
Balances
Adjusted Trial Balance
Balance
RECESSIVE INTERIORS
Date
Balance
2016
Balance
5.
Expenses:
Total expenses
Net income
Current assets: Current liabilities:
Total liabilities
Total current assets
Property, plant, and equipment:
Total stockholders’ equity
Total property, plant, and equipment
Total assets Total liabilities and stockholders’ equity
5.
Page 27
Post.
Ref. Debit Credit
Jan. 31
31
31
31
7.
Accounts Payable
Common Stock
Retained Earnings
For the Year Ended January 31, 2016
Retained earnings, January 31, 2016
RECESSIVE INTERIORS
Income Statement
Revenues:
January 31, 2016
RECESSIVE INTERIORS
Date
Prepaid Insurance
Equipment
Closing Entries
January 31, 2016
For the Year Ended January 31, 2016
Wages Payable
Accumulated Depreciation – Equipment
Supplies
Trucks
Accumulated Depreciation – Trucks
Cash
Balance Sheet
Retained earnings, February 1, 2015
Retained Earnings Statement
RECESSIVE INTERIORS
2016
RECESSIVE INTERIORS
Assets
JOURNAL
Description
Post-Closing Trial Balance
Debit
Balances
Credit
Balances
Stockholders’ Equity
Liabilities
Problem 4-4B
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.
2.
Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 13,100 – – 13,100 – – – 13,100 –
Supplies 8,000 – (a) 5,150 2,850 – – – 2,850 –
Prepaid Insurance 7,500 – (b) 3,150 4,350 – – – 4,350 –
Equipment 113,000 – – 113,000 – – – 113,000 –
Accum. Depr. – Equip. 12,000 – (c) 5,250 – 17,250 – – – 17,250
3.
Page 26
Post.
Ref. Debit Credit
Wages Expense
Accumulated Depreciation – Trucks
Depreciation Expense – Trucks
Wages Payable
Accumulated Depreciation – Equipment
Depreciation Expense – Equipment
Jan. 31 55 5,150
13 5,150
31 57 3,150
14 3,150
1., 3., and 6.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √13,100
Supplies 13
Post.
Post.
Balance
Date
2016
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √8,000
31 Adjusting 26 5,150 2,850
Supplies
Supplies Expense
Date
2016
2016
Adjusted
Balance
Trial Balance
Unadjusted Trial Balance
Adjustments
GENERAL LEDGER
Solution
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
RECESSIVE INTERIORS
Statement
Sheet
Insurance Expense
JOURNAL
Date
2016
Adjusting Entries
Description
Prepaid Insurance
ON
Balance
Date
Cells with non-gray backgrounds are protected and cannot be edited.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended January 31, 2016
Income
Balance
Accumulated Depreciation – Equipment 17
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √12,000
31 Adjusting 26 5,250
17,250
Trucks 18
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √90,000
Wages Payable 22
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting 26 900 900
Common Stock 31
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √30,000
Retained Earnings 32
Post.
2016
Balance
2016
Balance
Date
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √96,400
31 Closing 27 46,150 142,550
31 Closing 27 3,000 139,550
Service Revenue 41
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √155,000
31 Closing 27 155,000 – –
Wages Expense 51
Post.
Post.
2016
Balance
Date
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Balance √72,000
31 Adjusting 26 900 72,900
31 Closing 27 72,900 – –
Date
2016
Balance
Date
Date
2016
2016
2016
Balance
2016
Date
Balance
Balance
2016
Balance
Date
2016
Balance
Balance
Date
Date
Post.
Post.
Balance
Date
2016
2016
Balance
Date
Depreciation Expense – Equipment 54
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting 26 5,250 5,250
31 Closing 27 5,250 – –
Supplies Expense 55
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Adjusting 26 5,150 5,150
31 Closing 27 5,150 – –
Wages Payable
Depreciation expense – equipment
Miscellaneous expense
Supplies expense
Insurance expense
Depreciation expense – trucks
4.
13,100 –
2,850 –
4,350 –
113,000 –
– 17,250
90,000 –
– 31,100
– 4,500
5.
155,000$
Expenses:
72,900$
7,600
5,350
RECESSIVE INTERIORS
Retained Earnings Statement
Wages expense
Equipment
Accumulated Depreciation – Equipment
Trucks
Accumulated Depreciation – Trucks
Balance
Truck expense
Service revenue
Cash
Balance
Date
2016
Income Statement
For the Year Ended January 31, 2016
RECESSIVE INTERIORS
Adjusted Trial Balance
Date
2016
January 31, 2016
Debit
Balances
Credit
Balances
Accounts Payable
Revenues:
Rent expense
For the Year Ended January 31, 2016
Supplies
Prepaid Insurance
RECESSIVE INTERIORS
Post.
Item Ref. Dr. Cr. Dr. Cr.
Date
2016
Balance
2016
Balance
Date
2016
139,550$
Current assets: Current liabilities:
13,100$ 4,500$
2,850 900
4,350 Total liabilities 5,400$
6.
Page 27
Post.
Depreciation Expense – Trucks
Insurance Expense
Income Summary
Retained Earnings
Retained Earnings
Miscellaneous Expense
Supplies Expense
Depreciation Expense – Equipment
Wages Payable
Accumulated Depreciation – Equipment
Accumulated Depreciation – Trucks
Ref. Debit Credit
Jan. 31 41 155,000
34 155,000
31 34 108,850
51 72,900
52 7,600
53 5,350
7.
13,100 –
2,850 –
4,350 –
113,000 –
Service Revenue
Income Summary
Income Summary
Truck Expense
Rent Expense
Wages Expense
JOURNAL
RECESSIVE INTERIORS
Description
RECESSIVE INTERIORS
Wages payable
Assets
Balance Sheet
January 31, 2016
Cash
Supplies
Liabilities
2016
Closing Entries
Prepaid insurance
Date
Accounts payable
Prepaid Insurance
Equipment
Post-Closing Trial Balance
January 31, 2016
Debit
Balances
Credit
Balances
Supplies
Cash
Retained earnings, January 31, 2016
Accumulated depreciation
Retained earnings
Equipment
Accumulated depreciation
Trucks
Common stock
Problem 4-5A
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
July 1
1
2
4
5
6
10
12
12
14
Page 2
Post.
Ref. Debit Credit
July 17
18
20
24
26
27
29
31
31
31
Description
[Key code here]
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Section:
0%
JOURNAL
Date
2016
Description
Name:
2016
JOURNAL
Date
31
2., 6., and 9.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 1
1
2
4
6
10
12
14
17
18
24
26
27
29
31
31
31
Accounts Receivable 12
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 1
6
12
20
26
31
Supplies 14
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 1
18
31 Adjusting
Prepaid Rent 15
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 1
31 Adjusting
Prepaid Insurance 16
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 2
31 Adjusting
Office Equipment 18
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 1
5
Accumulated Depreciation 19
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 31 Adjusting
Accounts Payable 21
Post.
Item Ref. Dr. Cr. Dr. Cr.
July 5
12
Salaries Payable 22
Post.
Item Ref. Dr. Cr. Dr. Cr.
Date
2016
Date
2016
GENERAL LEDGER
Balance
Date
2016
Date
2016
Balance
Balance
Date
2016
Balance
Date
2016
Date
Balance
2016
Balance
2016
Date
Date
2016
Balance
Balance
Balance