PROBLEM 5B-3 (CONTINUED)
SNOW SUPPLIES
ACCOUNT NO. 115
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
6
GJ1
1
1
1
Adjusting
GJ2
8
3
OFFICE EQUIPMENT
ACCOUNT NO. 121
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
4
GJ1
8
8
ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT
ACCOUNT NO. 122
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
Adjusting
GJ2
1
8
0
1
8
0
SNOW EQUIPMENT
ACCOUNT NO. 123
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
1
GJ1
6
0
0
6
0
0
0
PROBLEM 5B-3 (CONTINUED)
ACCUMULATED DEPRECIATION, SNOW
EQUIPMENT
ACCOUNT NO. 124
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
Adjusting
GJ2
1
0
0
00
1
0
0
00
ACCOUNTS PAYABLE
ACCOUNT NO. 211
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
4
GJ1
10
8
0
0
00
10
8
0
0
00
28
GJ2
5
4
0
0
00
5
4
0
0
00
29
GJ2
6
0
0
00
6
0
0
0
00
SALARIES PAYABLE
ACCOUNT NO. 212
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Adjusting
GJ2
2
7
0
00
2
7
0
00
P. MACK, CAPITAL
ACCOUNT NO. 311
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
1
GJ1
17
0
0
0
00
17
0
0
0
00
31
Closing
GJ3
6
4
2
0
00
4
2
0
00
31
Closing
GJ3
6
0
0
0
00
4
2
0
00
PROBLEM 5B-3 (CONTINUED)
P. MACK, WITHDRAWALS
ACCOUNT NO. 312
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
12
GJ1
6
0
0
0
00
6
0
0
0
31
Closing
GJ3
6
0
0
0
00
INCOME SUMMARY
ACCOUNT NO 313
Date
201X
Explanation
Pos
t
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
31
Closing
GJ2
11
0
0
0
00
11
0
0
0
00
31
Closing
GJ3
4
5
8
0
00
6
4
2
0
00
31
Closing
GJ3
6
4
2
0
00
PLOWING FEES
ACCOUNT NO. 411
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
8
GJ1
10
0
0
0
00
10
0
0
0
00
20
GJ1
1
0
0
0
00
11
0
0
0
00
31
Closing
GJ2
0
0
0
00
SALARIES EXPENSE
ACCOUNT NO. 511
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
26
GJ1
2
1
0
0
00
2
1
0
0
00
31
GJ2
2
7
0
00
2
3
7
0
00
PROBLEM 5B-3 (CONTINUED)
ADVERTISING EXPENSE
ACCOUNT NO. 512
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Mar.
29
6
6
TELEPHONE EXPENSE
ACCOUNT NO. 513
201X
Explanation
Ref.
Debit
Credit
Credit
GJ2
1
1
Date
Post
Balance
RENT EXPENSE
ACCOUNT NO. 514
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
SNOW SUPPLIES EXPENSE
ACCOUNT NO. 515
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Adjusting
GJ2
8
0
8
PROBLEM 5B-3 (CONTINUED)
DEPRECIATION EXPENSE, OFFICE EQUIPMENT ACCOUNT NO. 516
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
Adjusting
GJ2
1
1
DEPRECIATION EXPENSE, SNOW
EQUIPMENT
ACCOUNT NO. 517
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
Adjusting
GJ2
1
0
1
0
PROBLEM 5B-3 (CONTINUED)
Balance Sheet
Credit
180
Debit
Inc. Statement
Credit
Debit
180
PHIL’ S PLOWING
WORKSHEET
FOR THE MONTH ENDED MAR. 31, 201X
Adj. Trial Balance
Credit
180
Debit
180
Adjustments
Credit
(c) 180
Debit
(c) 180
Trial Balance
Credit
Debit
Dep. Exp., Office Equip.
Acc. Dep., Office Equip.
PROBLEM 5B-3 (CONTINUED)
PHIL’S PLOWING
INCOME STATEMENT
FOR MONTH ENDED MARCH 31, 201X
Revenue:
Plowing Fees
$11
0
0
0
00
Operating Expenses:
Telephone Expense
1
3
0
$6
PHIL’S PLOWING
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED MARCH 31, 201X
P. Mack, Capital, March 1, 201X
$
0
00
Investment in March
0
0
00
Total Investment in March
0
0
00
(6
0
0
4
2
0
5-48
PROBLEM 5B-3 (CONTINUED)
LIABILITIES AND OWNER’ S EQUITY
PHIL’ S PLOWING
BALANCE SHEET
MARCH 31, 201X
Liabilities
ASSETS
00
0
7
0
$5
Cash
PROBLEM 5B-3 (CONTINUED)
PHIL’S PLOWING
POST-CLOSING TRIAL BALANCE
MARCH 31, 201X
Dr
Cr.
Cash
5
0
7
0
00
Accounts Receivable
1
0
0
0
00
Prepaid Rent
8
0
0
00
Snow Supplies
3
0
0
00
Office Equipment
8
0
0
00
Accumulated Depreciation, Office Equipment
1
8
0
Snow Equipment
6
0
0
0
00
Accumulated Depreciation, Snow Equipment
1
0
0
Accounts Payable
6
0
0
0
Salaries Payable
2
7
0
P. Mack, Capital
4
2
0
9
7
0
00
9
7
0
FINANCIAL REPORT PROBLEM SOLUTION—2016 Amazon’s Annual Report
KEEPING IT REAL: SUAREZ COMPUTER CENTER SOLUTION
ASSIGNMENTS 1, 3
SUAREZ COMPUTER CENTER
GENERAL JOURNAL
PAGE 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Sept
30
Adjusting Entries
30
Supplies Expense
5050
8
0
8
1030
8
0
8
30
Depr. Exp., C.S. Equipment
1
0
5
00
1081
1
30
Depr. Exp., Office Equip.
5090
5
0
1091
5
0
30
Rent Expense
5020
1
0
0
0
00
Prepaid Rent
1025
1
0
0
0
00
Closing Entries
30
Service Revenue
4000
9
6
2
0
3020
9
6
30
Income Summary
3020
4
0
0
3
5010
5
0
0
5020
1
8
5030
1
8
5
Phone Expense
5040
2
3
5
00
5060
3
0
0
5070
5050
8
0
8
Depr. Exp., C.S. Equip.
1
0
5
00
5090
5
0
30
Income Summary
3020
5
6
1
7
00
T. Falco, Capital
3000
5
6
1
7
00
ASSIGNMENTS 2,4
ACCOUNTS RECEIVABLE
ACCOUNT NO. 1020
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
2
7
PREPAID RENT
ACCOUNT NO. 1025
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance forward
5
Adjusting
1
0
5
SUPPLIES
ACCOUNT NO. 1030
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
1
0
Adjusting
8
1
CASH
ACCOUNT NO. 1000
201X
Explanation
Ref.
Debit
Credit
Debit
Credit
Balance forward
9
0
9
Date
Post
Balance
COMPUTER SHOP EQUIPMENT
ACCOUNT NO. 1080
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
3
3
ACCUMULATED DEPRECIATION, COMPUTER SHOP EQUIPMENT
ACCOUNT NO. 1081
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Sept.
Adjusting
1
1
OFFICE EQUIPMENT
ACCOUNT NO. 1090
Date
201X
Explanation
Post
Ret.
Debit
Credit
Balance
Debit
Credit
Balance forward
1
5
ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT
ACCOUNT NO. 1091
Date
201X
Explanation
Post
Ret.
Debit
Credit
Balance
Debit
Credit
Sept.
Adjusting
ACCOUNTS PAYABLE
ACCOUNT NO. 2000
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Sept.
Balance forward
5
T. FALCO, CAPITAL
ACCOUNT NO. 3000
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
5
Closing
5
6
7
1
T. FALCO, WITHDRAWALS
ACCOUNT NO. 3010
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Sept.
Balance forward
1
5
Closing
1
5
INCOME SUMMARY
ACCOUNT NO. 3020
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
(Revenue)
Closing (Exp)
4
0
5
6
7
(Income)
SERVICE REVENUE
ACCOUNT NO. 4000
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
ADVERTISING EXPENSE
ACCOUNT NO. 5010
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
5
0
Closing
5
0
RENT EXPENSE
ACCOUNT NO. 5020
Ref.
Debit
Credit
Debit
Credit
Sept.
Balance forward
8
Adjusting
1
0
8
Closing
1
8
Date
Post
Balance
UTILITIES EXPENSE
ACCOUNT NO. 5030
201X
Explanation
Ref.
Debit
Credit
Debit
Credit
Sept
Balance forward
1
Closing
1
Date
Post
Balance
PHONE EXPENSE
ACCOUNT NO. 5040
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Balance forward
2
SUPPLIES EXPENSE
ACCOUNT NO. 5050
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Sept.
Adjusting
8
0
8
INSURANCE EXPENSE
ACCOUNT NO. 5060
Explanation
Ref.
Debit
Credit
Debit
Balance forward
3
0
Closing
3
0
0
Date
Post
Balance
POSTAGE EXPENSE
ACCOUNT NO. 5070
Date
201X
Explanation
Post
Ref.
Debit
Credit
Balance
Debit
Credit
Sept.
Balance forward
Closing
DEPRECIATION EXPENSE, C.S. EQUIPMENT
ACCOUNT NO. 5080
Explanation
Ref.
Credit
Debit
Credit
Adjusting
1
1
Closing
1
Date
Post
Balance
DEPRECIATION EXPENSE, OFFICE
EQUIPMENT
ACCOUNT NO. 5090
Explanation
Ref.
Credit
Credit
Sept.
Adjusting
Closing
Date
Post
Balance
ASSIGNMENT 5
SUAREZ COMPUTER CENTER
POST-CLOSING TRIAL BALANCE
SEPTEMBER 30, 201X
Dr.
Cr.
Cash
9
0
9
0
00
Accounts Receivable
2
7
0
0
00
Prepaid Rent
5
0
0
00
Supplies
1
9
2
00
Computer Shop Equipment
3
3
6
0
00
Accum. Depr., C.S. Equip.
1
0
5
00
Office Equipment
1
5
0
0
00
Accum. Depr., Office Equip.
5
0
00
Accounts Payable
5
7
0
00
T. Falco, Capital
16
6
1
7
00
17
3
4
2
00
17
3
4
2
00
MINI PRACTICE SET
SHERMAN REALTY
(1, 4)
SHERMAN REALTY
GENERAL JOURNAL
PAGE 1
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Apr.
1
Cash
111
14
0
0
0
Office Equipment
9
0
311
0
0
0
00
1
Prepaid Rent
114
3
6
0
0
00
Cash
111
3
6
0
0
00
1
Automobile
123
14
0
0
0
00
Accounts Payable
211
14
0
0
0
00
4
Office Supplies
115
9
0
0
00
Cash
111
9
0
0
00
Supplies Purchased for Cash
5
Office Supplies
115
4
5
0
211
4
5
0
00
6
Cash
111
6
5
0
0
6
5
0
Cash Fees
8
Gas Expense
513
2
5
111
2
5
00
Paid Gas Bill
Salaries Expense
512
5
5
0
Paid Salaries
MINI PRACTICE SET
SHERMAN REALTY
SHERMAN REALTY
GENERAL JOURNAL
PACE 2
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Apr.
17
Accounts Receivable
112
7
5
0
0
00
Commissions Earned
411
7
5
0
0
00
20
312
3
0
0
0
Cash
111
3
0
0
0
00
8
Commissions Earned
411
8
0
0
0
00
Cash
111
9
0
00
24
Repairs Expense
514
4
5
0
00
Cash
111
4
5
0
00
Cash Repairs
30
Salaries Expense
512
5
5
0
00
Cash
111
5
5
0
00
30
515
2
0
0
30
Advertising Expense
516
7
0
0
00
Accounts Payable
211
7
0
0
00