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
Capital 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.
Balance
Date
for the year Ended January 31, 2014
Name:
Adjusting Entries
Balance
Cells with non-gray backgrounds are protected and cannot be edited.
Date
End-of-Period Spreadsheet (Work Sheet)
[Key code here]
2014
Section:
0%
RECESSIVE INTERIORS
2014
Description
Adjusted
Income
Balance
Sheet
Statement
Unadjusted Trial Balance
Adjustments
GENERAL LEDGER
Trial Balance
JOURNAL
Date
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.
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
Capital 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
2014
Date
2014
Balance
Balance
Date
2014
2014
2014
2014
2014
2014
2014
Date
Balance
Date
2014
Date
Balance
Date
2014
Balance
Date
Balance
Date
Balance
Date
Date
Balance
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
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
Balance
Balance
Date
2014
Date
Date
2014
2014
Date
2014
Date
Balance
Date
2014
2014
Balance
2014
Date
Date
Balance
Balance
2014
Date
2014
Balance
Balance
Balance
Balance
2014
Date
4.
Capital Stock
Retained Earnings
Dividends
Service Revenue
Wages Expense
Rent Expense
Truck Expense
Depreciation Expense – Equipment
Supplies Expense
Depreciation Expense – Trucks
Insurance Expense
Miscellaneous Expense
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
Credit
Balances
Supplies
Trucks
Prepaid Insurance
Equipment
For the Year Ended January 31, 2014
Wages Payable
JOURNAL
Stockholders’ Equity
Liabilities
January 31, 2014
RECESSIVE INTERIORS
Cash
Assets
Balance Sheet
Accumulated Depreciation – Equipment
Retained earnings, February 1, 2013
January 31, 2014
For the Year Ended January 31, 2014
Debit
Balances
Adjusted Trial Balance
RECESSIVE INTERIORS
Retained Earnings Statement
RECESSIVE INTERIORS
Retained earnings, January 31, 2014
RECESSIVE INTERIORS
Income Statement
Accumulated Depreciation – Trucks
Accounts Payable
Revenues:
Post.
Ref. Debit Credit
Jan. 31
31
31
31
7.
Accounts Payable
Capital Stock
Retained Earnings
Post-Closing Trial Balance
Debit
Balances
Credit
Balances
Description
January 31, 2014
RECESSIVE INTERIORS
Wages Payable
Accumulated Depreciation – Equipment
Supplies
Trucks
Accumulated Depreciation – Trucks
Cash
Prepaid Insurance
Equipment
Date
Closing Entries
2014
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 –
3.
Page 26
Post.
Ref. Debit Credit
Wages Expense
Depreciation Expense – Trucks
Depreciation Expense – Equipment
Jan. 31 55 5,150
1., 3., and 6.
Cash
11
Post.
Item Ref. Dr. Cr. Dr. Cr.
Supplies 13
Post.
Item Ref. Dr. Cr. Dr. Cr.
JOURNAL
Date
2014
Adjusting Entries
Description
GENERAL LEDGER
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, 2014
Income
Balance
Solution
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
RECESSIVE INTERIORS
Date
Adjusted
Statement
Sheet
Balance
Supplies Expense
Trial Balance
Unadjusted Trial Balance
Adjustments
Income Summary 34
Post.
Item Ref. Dr. Cr. Dr. Cr.
Jan. 31 Closing 27 155,000 155,000
2014
Balance
Date
2014
Date
Balance
2014
Date
Balance
Balance
Date
Balance
Prepaid insurance
4.
13,100 –
5.
Current assets: Current liabilities:
13,100$ 4,500$
Assets
Liabilities
Accounts payable
RECESSIVE INTERIORS
Cash
Balance Sheet
January 31, 2014
January 31, 2014
Debit
Balances
Credit
Balances
RECESSIVE INTERIORS
Adjusted Trial Balance
RECESSIVE INTERIORS
Income Statement
For the Year Ended January 31, 2014
Cash
6.
Page 27
Post.
Ref. Debit Credit
7.
13,100 –
Cash
Post-Closing Trial Balance
January 31, 2014
Debit
Balances
Credit
Balances
2014
Closing Entries
Date
RECESSIVE INTERIORS
Description
JOURNAL