Latihan Soal Chapter 4 Completing the Accounting Cycle On December 31, 2020 the Trial Balance of the worksheet for Al Farisi Ltd. are as follows: Al Farisi Worksheet For the Year Ended December 31, 2020 Trial Balance Account Titles Dr. 6,500 Cr. Cash Accounts Receivable 5,200 2,000 11,000 Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable 1,250 2,500 Unearned Service Revenue 550 Owner's Capital Owner's Drawings 12,900 1,100 Service Revenue 10,300 Salaries and Wages Expense Miscellaneous Expense 1,300 400 27,500 27,500 Other data: 1. A physical count reveals only $680 of roofing supplies on hand. 2. Depreciation for December is $450. 3. Unearned revenue amounted to $460 at December 31. 4. Accrued salaries are $900. Instructions: a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and owner's equity statement for the month of December and classified balance sheet at December 31. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet. e. Prepare a post-closing trial balance.

Latihan Soal Chapter 4 Completing the Accounting Cycle On December 31, 2020 the Trial Balance of the worksheet for Al Farisi Ltd. are as follows: Al Farisi Worksheet For the Year Ended December 31, 2020 Trial Balance Account Titles Dr. 6,500 Cr. Cash Accounts Receivable 5,200 2,000 11,000 Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable 1,250 2,500 Unearned Service Revenue 550 Owner's Capital Owner's Drawings 12,900 1,100 Service Revenue 10,300 Salaries and Wages Expense Miscellaneous Expense 1,300 400 27,500 27,500 Other data: 1. A physical count reveals only $680 of roofing supplies on hand. 2. Depreciation for December is $450. 3. Unearned revenue amounted to $460 at December 31. 4. Accrued salaries are $900. Instructions: a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and owner's equity statement for the month of December and classified balance sheet at December 31. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet. e. Prepare a post-closing trial balance.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 71BPSB: Problem 3-71B Preparing a Worksheet (Appendix 3A) Flint Inc. operates a cable television System. At...

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