Problem 4-1A
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 trial balance, enter a zero in cells you would otherwise leave blank.
1.
Total revenues
Expenses:
Net income
2.
3.
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
4.
Debit Credit
Assets
WATCHDOG COMPANY
For the Year Ended July 31, 2014
Total expenses
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Revenues:
Section:
0%
WATCHDOG COMPANY
Income Statement
For the Year Ended July 31, 2014
WATCHDOG COMPANY
Retained Earnings Statement
Retained earnings, August 1, 2013
July 31, 2014
Retained earnings, July 31, 2014
Balance Sheet
2014
Description
Liabilities
Stockholders’ Equity
JOURNAL
Date
Closing Entries
Name:
July 31
31
Miscellaneous Expense
31
31
5.
Accounts Receivable
Equipment
Accumulated Depreciation – Equipment
Unearned Rent
Capital Stock
Salaries & Wages Payable
WATCHDOG COMPANY
Retained Earnings
Building
Accumulated Depreciation – Building
Cash
Prepaid Insurance
Supplies
Accounts Payable
Post-Closing Trial Balance
July 31, 2014
Land
Debit
Balances
Credit
Balances
Problem 4-1A
Solution
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Accounts payable
Salaries and wages payable
Increase in retained earnings
Less dividends
Unearned rent
In the trial balance, enter a zero in cells you would otherwise leave blank.
1.
368,100$
1,000
Total revenues 369,100$
2.
128,100$
4.
Debit Credit
Description
WATCHDOG COMPANY
Name:
Section:
ON
Fees revenue
Rent revenue
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
JOURNAL
Income Statement
For the Year Ended July 31, 2014
Revenues:
For the Year Ended July 31, 2014
WATCHDOG COMPANY
Retained earnings, August 1, 2013
Date
Retained Earnings Statement
2014
Closing Entries
Advertising expense
Utilities expense
Repairs expense
Depreciation expense – equipment
Supplies expense
Insurance expense
Depreciation expense – building
Miscellaneous expense
Accounts Payable
July 31 368,100
5.
10,800 –
Accounts Receivable 43,300 –
WATCHDOG COMPANY
Fees Earned
Post-Closing Trial Balance
July 31, 2014
Debit
Balances
Credit
Balances
Cash
Retained Earnings