(b)1,600
PROBLEM 4A-4
(1)
DICK’S REPAIR SERVICE
WORKSHEET
FOR MONTH ENDED JUNE 30, 201X
Balance Sheet
Credit
Debit
4,200
Income Statement
Credit
Adjusted Trial Balance
Credit
Debit
4,200
450
Adjustments
Credit
Debit
(a) 450
Trial Balance
Credit
Debit
4,200
Account Titles
Cash
Insurance Expense
(2)
DICK’S REPAIR SERVICE
INCOME STATEMENT
FOR MONTH ENDED JUNE 30, 201X
Revenue:
Revenue from Repairs
$10
0
0
0
00
Operating Expenses:
Wages Expense
$ 2
6
4
0
00
Repair Supplies Expense
6
0
0
00
$ 4
3
9
0
00
(2)
DICK’S REPAIR SERVICE
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED JUNE 30, 201X
4-19
PROBLEM 4A-4 (CONCLUDED)
(2)
LIABILITIES AND OWNER’ S EQUITY
DICK’ S REPAIR SERVICE
BALANCE SHEET
JUNE 30, 201X
ASSETS
4-20
PROBLEM 4B-1
ADJ. TRIAL BALANCE
ADJUSTMENTS
JAMES FITNESS CENTER
WORKSHEET
FOR THE MONTH ENDED MARCH 31, 201X
TRIAL BALANCE
Account Titles
5
(a)3
(a) 3
4
6
5
1
Wages Payable
PROBLEM 4B-2
Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Credit
Debit
3,700
Credit
Debit
500
1,125
Credit
LING’ S LANDSCAPING SERVICE
WORKSHEET
FOR THE MONTH ENDED JANUARY 31, 201X
Debit
3,700
500
1,125
Credit
Debit
(a) 500
(b) 1,125
Credit
Debit
3,700
Cash in bank
Rent Expense
Landscaping Supplies Expense
150
60
1,275
Landscaping Supplies
Advertising Expense
4-22
PROBLEM 4B-3
(1)
KREG’S MOVING CO.
WORKSHEET
FOR MONTH ENDED OCTOBER 31, 201X
Balance Sheet
Credit
Net Income
Debit
6,000
Income Statement
Credit
Debit
550
200
550
Adjusted Trial Balance
Credit
Debit
6,000
550
200
550
Adjustments
Credit
Debit
(a) 550
(b) 200
(c) 550
Trial Balance
Credit
Debit
6,000
Account Titles
Cash
Insurance Expense
Moving Supplies Expense
Dep. Exp. Moving Truck
720
629
720
629
Moving Supplies
Moving Truck
Acc. Dep., Moving Truck
Accounts Payable
K. Hill, Capital
K. Hill, Withdrawals
Revenue from Moving
Rent Expense
Advertising Expense
PROBLEM 4B-3 (CONTINUED)
(2)
KREG’S MOVING CO.
INCOME STATEMENT
FOR MONTH ENDED OCTOBER 31, 201X
Revenue:
Revenue from Moving
$ 8
8
0
0
00
Operating Expenses:
Wage Expense
$ 4
0
1
2
Advertising Expense
6
2
9
Moving Supplies Expense
2
0
0
Depreciation Expense; Moving Truck
5
5
0
$ 2
KREG’S MOVING CO.
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED OCTOBER 31, 201X
(2)
K. Hill, Capital, October 1, 201X
$16
3
9
3
00
Net Income for October
$ 2
1
3
9
Increase in Capital
3
9
PROBLEM 4B-3 (CONCLUDED)
(2)
KREG’ S MOVING CO.
BALANCE SHEET
OCTOBER 31, 201X
LIABILITIES AND OWNER’S EQUITY
Liabilities
ASSETS
00
0
0
0
$ 6
Cash
4-25
PROBLEM 4B-4
(1)
Balance Sheet
Credit
(c) 700
Dep. Exp, Rep. Equip.
Debit
3,200
Income Statement
Credit
DENNIS’S REPAIR SERVICE
WORKSHEET
FOR THE MONTH ENDED NOV. 30, 201X
Debit
200
2,800
Adjusted Trial Balance
Credit
Debit
3,200
200
2,800
Adjustments
Credit
Debit
(a) 200
(b)2,800
Trial Balance
Credit
Debit
3,200
Account Titles
Cash
Insurance Expense
Repair Supplies Exp.
(a) 200
Prepaid Insurance
Repair Equipment
Revenue from Repairs
Advertising Expense
PROBLEM 4B-4 (CONTINUED)
(2)
DENNIS’S REPAIR SERVICE
INCOME STATEMENT
FOR MONTH ENDED NOVEMBER 30, 201X
Revenue:
Revenue from Repairs
$ 8
4
0
0
00
Operating Expenses:
Wages Expense
$ 1
6
0
00
Rent Expense
5
0
00
Advertising Expense
1
0
00
Insurance Expense
2
0
00
Depreciation Expense, Repair Equipment
7
0
00
5
9
8
0
00
Net Income
$ 2
4
2
0
00
(2)
DENNIS’S REPAIR SERVICE
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED NOVEMBER 30, 201X
D. Horn, Capital, November 1, 201X
$6
7
9
0
00
4-28
PROBLEM 4B-4 (CONCLUDED)
LIABILITIES AND OWNER’ S EQUITY
DENNIS’ S REPAIR SERVICE
BALANCE SHEET
NOVEMBER 30, 201X
Liabilities
ASSETS
00
0
0
2
$3
Cash
FINANCIAL REPORT PROBLEM SOLUTION—2016 Amazon.com, Inc.’s Annual
Report
“Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets
KEEPING IT REAL CONTINUING PROBLEM
SUAREZ COMPUTER CENTER WORKSHEET IS ON THE FOLLOWING PAGE.
4-30
SUAREZ COMPUTER CENTER
WORKSHEET
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Balance Sheet
Cr.
5
0
1
5
0
1
5
0
1
5
0
1
00
5
0
1
5
0
Dr.
00
00
0
0
9
0
0
7
9
2
Income Statement
Cr.
Dr.
00
8
0
8
Adj. Trial Balance
Cr.
Dr.
00
00
00
0
0
8
9
0
0
0
7
8
9
2
Adjustments
Cr.
Dr.
00
8
0
8
Cr.
Trial Balance
Dr.
00
00
0
0
9
0
0
7
9
2
Cash
Accts. Receiv.
Supplies Exp.
0
0
5
00
00
2
0
0
9
0
1
3
5
3
1
00
00
00
0
5
0
0
3
0
5
2
3
0
0
5
00
00
00
00
00
2
0
0
0
5
0
9
6
0
0
3
0
1
3
5
5
2
3
3
1
00
8
0
8
0
0
5
00
00
00
00
00
0
0
0
0
5
0
0
6
0
0
3
0
0
3
5
5
2
3
1
3
1
Supplies
Adv. Expense
Phone Expense
Insurance Exp.
SUAREZ COMPUTER CENTER
INCOME STATEMENT
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Revenue:
Service Revenue
$9
6
2
0
00
Operating Expenses:
Advertising Expense
$
5
0
0
00
1
Utilities Expense
1
8
5
00
Postage Expense
2
0
00
Supplies Expense
8
0
8
00
4
SUAREZ COMPUTER CENTER
STATEMENT OF OWNER’S EQUITY
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Falco, Capital, July 1, 201X
$
0
00
5
0
0
00
5
0
0
00
Less: Falco, Withdrawals
5
0
0
Net Increase in Capital
4
1
1
7
00
4-32
CONTINUING PROBLEM
LIABILITIES AND OWNER’ S EQUITY
00
0
7
5
$
Liabilities
Accounts Payable
SUAREZ COMPUTER CENTER
BALANCE SHEET
SEPTEMBER 30, 201X
00
00
0
0
9
0
0
7
$9
2
ASSETS
Cash
Accounts Receivable