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1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference

1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference

Financial & Managerial Accounting
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 4.3BPR
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PR 4-4A Ledger Accounts, Adjusting Entries, Financial Statements, and Closing Entries; Optional Spreadsheet Obj. 2, 3 The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Credit Balances Account Debit Balances No. Cash 11 12,000 30,000 Supplies Prepaid Insurance... Equipment. Accumulated Depreciation-Equipment. 13 3,600 110,000 14 16 17 25,000 Trucks... 18 60,000 Accumulated Depreciation-Trucks Accounts Payable... 19 15,000 21 4,000 26,000 Common Stock.. Retained Earnings Dividends... Service Revenue.. Wages Expense... Rent Expense... Truck Expense Miscellaneous Expense... 31 32 70,000 33 15,000 41 160,000 51 45,000 10,600 9,000 53 54 59 4,800 300,000 300,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at March 31 are $7,500. b. Insurance premiums expired during year are $1,800. c. Depreciation of equipment during year is $8,350. d. Depreciation of trucks during year is $6,200. e. Wages accrued but not paid at March 31 are $600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference 1.. -
Transcribed Image Text:PR 4-4A Ledger Accounts, Adjusting Entries, Financial Statements, and Closing Entries; Optional Spreadsheet Obj. 2, 3 The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Credit Balances Account Debit Balances No. Cash 11 12,000 30,000 Supplies Prepaid Insurance... Equipment. Accumulated Depreciation-Equipment. 13 3,600 110,000 14 16 17 25,000 Trucks... 18 60,000 Accumulated Depreciation-Trucks Accounts Payable... 19 15,000 21 4,000 26,000 Common Stock.. Retained Earnings Dividends... Service Revenue.. Wages Expense... Rent Expense... Truck Expense Miscellaneous Expense... 31 32 70,000 33 15,000 41 160,000 51 45,000 10,600 9,000 53 54 59 4,800 300,000 300,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at March 31 are $7,500. b. Insurance premiums expired during year are $1,800. c. Depreciation of equipment during year is $8,350. d. Depreciation of trucks during year is $6,200. e. Wages accrued but not paid at March 31 are $600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference 1.. -
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Hi I need to do the trial balance and journal for this exercise.

PR 4-4A Ledger Accounts, Adjusting Entries, Financial Statements, and Closing Entries; Optional Spreadsheet Obj. 2, 3 The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Credit Balances Account Debit Balances No. Cash 11 12,000 30,000 Supplies Prepaid Insurance... Equipment. Accumulated Depreciation-Equipment. 13 3,600 110,000 14 16 17 25,000 Trucks... 18 60,000 Accumulated Depreciation-Trucks Accounts Payable... 19 15,000 21 4,000 26,000 Common Stock.. Retained Earnings Dividends... Service Revenue.. Wages Expense... Rent Expense... Truck Expense Miscellaneous Expense... 31 32 70,000 33 15,000 41 160,000 51 45,000 10,600 9,000 53 54 59 4,800 300,000 300,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at March 31 are $7,500. b. Insurance premiums expired during year are $1,800. c. Depreciation of equipment during year is $8,350. d. Depreciation of trucks during year is $6,200. e. Wages accrued but not paid at March 31 are $600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference 1.. -
Transcribed Image Text:PR 4-4A Ledger Accounts, Adjusting Entries, Financial Statements, and Closing Entries; Optional Spreadsheet Obj. 2, 3 The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Credit Balances Account Debit Balances No. Cash 11 12,000 30,000 Supplies Prepaid Insurance... Equipment. Accumulated Depreciation-Equipment. 13 3,600 110,000 14 16 17 25,000 Trucks... 18 60,000 Accumulated Depreciation-Trucks Accounts Payable... 19 15,000 21 4,000 26,000 Common Stock.. Retained Earnings Dividends... Service Revenue.. Wages Expense... Rent Expense... Truck Expense Miscellaneous Expense... 31 32 70,000 33 15,000 41 160,000 51 45,000 10,600 9,000 53 54 59 4,800 300,000 300,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at March 31 are $7,500. b. Insurance premiums expired during year are $1,800. c. Depreciation of equipment during year is $8,350. d. Depreciation of trucks during year is $6,200. e. Wages accrued but not paid at March 31 are $600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark () in the Posting Reference 1.. -
Lakota Freight Co. End-of-Period Spreadsheet (VWork Sheet) For the Year Ended March 31, 20Y4 2. Adjusted Income Balance Unadjusted Trial Balance Statement Adjustments Credit Trial Balance Sheet Account Title Debit Credit Debit Debit Credit Debit Сredit Debit Credit Cash 12,000 Supplies Prepaid Insurance 30,000 3,600 110,000 Equipment Accum. Depr. - Equip. 25,000 Trucks 60,000 Accum. Depr. - Trucks Accounts Pay able 15,000 4,000 Wages Payable 26,000 70,000 Common Stock Retained Earnings Dividends 15,000 Service Revenue 160,000 Wages Expense 45,000 Supplies Expense Rent Expense 10,600 Truck Expense 9,000 Depr. Exp. - Equipment Depr. Exp. - Trucks Insurance Expense Miscellaneous Expense 4,800 300,000 300,000
Transcribed Image Text:Lakota Freight Co. End-of-Period Spreadsheet (VWork Sheet) For the Year Ended March 31, 20Y4 2. Adjusted Income Balance Unadjusted Trial Balance Statement Adjustments Credit Trial Balance Sheet Account Title Debit Credit Debit Debit Credit Debit Сredit Debit Credit Cash 12,000 Supplies Prepaid Insurance 30,000 3,600 110,000 Equipment Accum. Depr. - Equip. 25,000 Trucks 60,000 Accum. Depr. - Trucks Accounts Pay able 15,000 4,000 Wages Payable 26,000 70,000 Common Stock Retained Earnings Dividends 15,000 Service Revenue 160,000 Wages Expense 45,000 Supplies Expense Rent Expense 10,600 Truck Expense 9,000 Depr. Exp. - Equipment Depr. Exp. - Trucks Insurance Expense Miscellaneous Expense 4,800 300,000 300,000
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