PROBLEM 5A-3 (CONTINUED)
ACCUMULATED DEPR., OFFICE EQUIPMENT
ACCOUNT NO. 122
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
30
GJ2
SNOW EQUIPMENT
ACCOUNT NO. 123
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
ACCUMULATED DEPRECIATION, SNOW EQ.
ACCOUNT NO. 124
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
30
Adjusting
GJ2
ACCOUNTS PAYABLE
ACCOUNT NO. 211
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
6,000
GJ2
3,000
GJ2
PROBLEM 5A-3(CONTINUED)
SALARIES PAYABLE
ACCOUNT NO. 212
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
30
Adjusting
GJ2
P. MAKI, CAPITAL
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
30
Closing
GJ3
30
Closing
GJ3
6,000
P. MAKI, WITHDRAWALS
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
6,000
6,000
30
Closing
GJ3
6,000
INCOME SUMMARY
ACCOUNT NO. 313
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
30
Closing
GJ2
Closing
GJ3
Closing
GJ3
PROBLEM 5A-3(CONTINUED)
PLOWING FEES
ACCOUNT NO. 411
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
7,000
GJ1
30
Closing
GJ2
SALARIES EXPENSE
ACCOUNT NO. 511
Date
201X
Explanation
Post
Ref.
Debit
Balance
Debit
Credit
GJ1
30
Adjusting
GJ2
1,990
30
Closing
GJ3
1,990
ADVERTISING EXPENSE
ACCOUNT NO. 512
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
GJ2
30
Closing
GJ3
TELEPHONE EXPENSE
ACCOUNT NO. 513
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
GJ2
30
Closing
GJ3
PROBLEM 5A-3(CONTINUED)
RENT EXPENSE
ACCOUNT NO. 514
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
30
Adjusting
GJ2
30
Closing
GJ3
SNOW SUPPLIES EXPENSE
ACCOUNT NO. 515
201X
Debit
Credit
Debit
Credit
30
Adjusting
GJ2
30
Closing
GJ3
Date
Explanation
Post
Ref.
Balance
DEPRECIATION EXPENSE, OFFICE EQUIPMENT
ACCOUNT NO. 516
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
30
Adjusting
GJ2
Closing
GJ3
DEPRECIATION EXPENSE, SNOW EQUIPMENT
ACCOUNT NO. 517
201X
Debit
Credit
Debit
Credit
30
Adjusting
GJ2
Closing
GJ3
Date
Explanation
Post
Ref.
Balance
100
(d) 160
Dep. Exp., Snow Eq.
Acc. Dep., Snow Eq.
PROBLEM 5A-3 (CONTINUED)
400
500
PANJI’ S PLOWING
WORKSHEET
400
500
(a) 400
(b) 500
Snow Sup. Exp.
Rent Expense
300
900
300
900
Cash
Accts. Rec.
Prepaid Rent
Snow Supplies
Office Equipment
Snow Equipment
Accounts Payable
Salaries Expense
Advertising Exp.
Telephone Expense
PROBLEM 5A-3 (CONTINUED)
PANJI’S PLOWING
INCOME STATEMENT
FOR MONTH ENDED NOVEMBER 30, 201X
Revenue:
Plowing Fees
$9,500
00
Operating Expenses:
00
PANJI’S PLOWING
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED NOVEMBER 30, 201X
P. Maki, Capital, Nov. 1, 201X
$0
00
Investment in November
Total Investment
00
Less: Withdrawals for November
Decrease in Capital
P. Maki, Capital, Nov. 30, 201X
00
5-27
PROBLEM 5A-3 (CONTINUED)
LIABILITIES AND OWNER’ S EQUITY
PANJI’ S PLOWING
ASSETS
PROBLEM 5A-3 (CONCLUDED)
PANJI’S PLOWING
POST-CLOSING TRIAL BALANCE
NOVEMBER 30, 201X
Dr.
Cr.
Cash
$4,840
00
Accounts Receivable
2,500
00
Prepaid Rent
00
Office Equipment
00
Snow Equipment
9,600
00
Accounts Payable
3,900
P. Maki, Capital
Salaries Payable
PROBLEM 5B-1 (1)
DEB‘S DANCE STUDIO
WORKSHEET
FOR THE MONTH ENDED NOVEMBER 30, 201X
Balance Sheet
Credit
Debit
47,400
Income Statement
Credit
Debit
1,000
500
Adjusted Trial Balance
Credit
Debit
47,400
1,000
500
Adjustments
Credit
Debit
(a) 1,000
(b) 500
Trial Balance
Credit
Debit
47,400
Account Titles
Cash
Insurance Expense
Dance Supplies Expense
10,700
34,400
600
10,700
34,400
600
(a) 1,000
(c) 2,500
34,400
1,300
Prepaid insurance
Dance Supplies
Acc. Dep. Dance Equip.
D. Dee, Capital
Dance Fees Earned
Salaries Expense
Advertising Expense
PROBLEM 5B-1 (CONTINUED)
(2)
DEB’S DANCE STUDIO
GENERAL JOURNAL
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Prepaid Insurance
00
30
Dance Supplies Expense
00
Dance Supplies
00
Closing Entries
30
Dance Fees Earned
18,700
00
Income Summary
18,700
00
30
Income Summary
00
D. Dee, Capital
00
30
D. Dee, Capital
00
D. Dee, Withdrawals
00
PROBLEM 5B-2
(1)
PERKING’S CLEANING SERVICE
GENERAL JOURNAL Page 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Prepaid Insurance
114
00
Salaries Payable
213
50
00
Closing Entries
31
Cleaning Fees
412
6,500
00
31
Income Summary
314
4,249
00
PROBLEM 5B-2 (CONTINUED)
CASH
ACCOUNT NO. 112
201X
Explanation
Ref.
Debit
Credit
Debit
Balance
Date
Post
Balance
PREPAID INSURANCE
ACCOUNT NO. 114
201X
Debit
Credit
Debit
Credit
Balance
Adjusting
GJ2
Date
Explanation
Post
Ref.
Balance
CLEANING SUPPLIES
ACCOUNT NO. 115
201X
Debit
Credit
Debit
Credit
Balance
Adjusting
GJ2
Date
Explanation
Post
Ref.
Balance
AUTO
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
ACCUMULATED DEPRECIATION, AUTO
ACCOUNT NO. 122
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
PROBLEM 5B-2 (CONTINUED)
ACCOUNTS PAYABLE
ACCOUNT NO. 212
201X
Debit
Credit
Debit
Credit
Balance
Date
Explanation
Post
Ref.
Balance
SALARIES PAYABLE
ACCOUNT NO. 213
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Adjusting
GJ2
B. PERKING, CAPITAL
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
Closing
GJ2
Closing
GJ2
B. PERKING, WITHDRAWALS
ACCOUNT NO. 313
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Closing
GJ2
PROBLEM 5B-2 (CONTINUED)
INCOME SUMMARY
ACCOUNT NO. 314
201X
Debit
Credit
Debit
Credit
Closing
GJ2
Closing
GJ2
Closing
GJ2
Date
Explanation
Post
Ref.
Balance
CLEANING FEES
ACCOUNT NO. 412
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
Closing
GJ2
SALARIES EXPENSES
ACCOUNT NO. 513
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
Adjusting
GJ2
Closing
GJ2
TELEPHONE EXPENSE
ACCOUNT NO. 514
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Closing
GJ2
PROBLEM 5B-2 (CONTINUED)
ADVERTISING EXPENSE
ACCOUNT NO. 515
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
Closing
GJ2
GAS EXPENSE
ACCOUNT NO. 516
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance
Closing
GJ2
INSURANCE EXPENSE
ACCOUNT NO. 517
Date
201X
Explanation
Post
Debit
Credit
Balance
Debit
Credit
Adjusting
GJ2
Closing
GJ2
CLEANING SUPPLIES EXPENSE
ACCOUNT NO. 518
Date
201X
Explanation
Post
Debit
Credit
Balance
Debit
Credit
Adjusting
GJ2
Closing
GJ2
PROBLEM 5A-2 (CONTINUED)
DEPRECIATION EXPENSE, AUTO
ACCOUNT NO. 519
Debit
Credit
Adjusting
GJ2
Closing
GJ2
Date
Explanation
Post
Ref.
Balance
PROBLEM 5B-2
(2)
PERKING’S CLEANING SERVICE
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 201X
Cash
1,200
00
Prepaid Insurance
860
00
B. Perking, Capital
PROBLEM 5B-3
PHIL’S PLOWING
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
1
Cash
111
11
0
0
0
00
Snow Equipment
123
6
0
0
0
00
P. Mack, Capital
311
17
0
0
0
00
Owner Investment
1
Prepaid Rent
114
1
2
0
0
00
Cash
111
1
2
0
0
00
Rent Paid in Advance
4
Office Equipment
121
10
8
0
0
00
Accounts Payable
211
10
8
0
0
00
Bought Equipment On Account
6
Snow Supplies
115
1
1
0
0
00
Cash
111
1
1
0
0
00
Cash Purchase of Supplies
8
Cash
111
10
0
0
0
00
Plowing Fees
411
10
0
0
0
00
Cash Fees Earned
12
P. Mack, Withdrawals
312
6
0
0
0
00
Cash
111
6
0
0
0
00
Owner Withdrawal
20
Accounts Receivable
112
1
0
0
0
00
Plowing Fees
411
1
0
0
0
00
26
Salaries Expense
511
2
1
0
0
00
Cash
2
1
0
0
00
Paid Salaries
PROBLEM 5B-3 (CONTINUED)
PHIL’S PLOWING
GENERAL JOURNAL
PAGE 2
Mar.
28
Accounts Payable
211
5
4
0
0
00
30
513
1
3
0
00
Cash
111
1
3
0
00
Date
Paid Telephone Bill
Adjusting Entries
31
Snow Supplies Expense
515
8
0
0
00
Snow Supplies
115
8
0
0
00
31
Depreciation Expense, Office Equipment
516
1
8
0
00
122
1
8
0
00
31
Depreciation Expense, Snow Equipment
517
1
0
0
00
124
1
0
0
00
31
Salaries Expense
511
2
7
0
00
313
11
0
0
0
00
PROBLEM 5B-3 (CONTINUED)
PHIL’S PLOWING
GENERAL JOURNAL
PAGE 3
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
31
Income Summary
313
4
5
8
0
00
Salaries Expense
511
2
3
7
0
00
512
6
0
0
00
Telephone Expense
513
1
3
0
00
8
0
0
514
4
0
0
00
Equipment
Equipment
31
Income Summary
313
6
4
00
6
4
2
0
31
P. Mack, Capital
311
6
0
0
0
00
P. Mack, Withdrawals
312
6
0
0
0
00
PROBLEM 5B-3 (CONTINUED)
CASH
ACCOUNT NO. 111
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
1
GJ1
11
0
0
0
00
11
0
0
0
00
1
GJ1
1
2
0
0
00
9
8
0
0
00
6
GJ1
1
1
0
0
00
8
7
0
0
00
8
GJ1
10
0
0
0
00
18
7
0
0
00
GJ1
6
0
0
0
00
12
7
0
0
00
2
1
0
0
00
10
6
0
0
00
GJ2
5
4
0
0
00
5
2
0
0
00
GJ2
1
3
0
00
5
0
7
0
00
ACCOUNTS RECEIVABLE
ACCOUNT NO. 112
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
20
GJ1
1
0
0
0
00
1
0
0
0
PREPAID RENT
ACCOUNT NO. 114
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
1
GJ1
1
2
0
0
00
1
2
0
0
00
31
Adjusting
GJ2
4
0
0
00
8
0
0
00