Accounting (Text Only)
26th Edition
ISBN: 9781285743615
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 4, Problem 4.28EX
Appendix
Completing an end-of-period spreadsheet
Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.:
Appendix
Closing entries from an end-of-period spreadsheet
Based on the data in Exercise 4-25, prepare the closing entries for Alert Security Services Co.
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Appendix: Completing an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.:
If an amount box does not require an entry, leave it blank.
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 20Y7
Account Title
AdjustedTrial BalanceDebit
AdjustedTrial BalanceCredit
Income StatementDebit
Income StatementCredit
Balance SheetDebit
Balance SheetCredit
Cash
12
fill in the blank 1
fill in the blank 2
fill in the blank 3
fill in the blank 4
Accounts Receivable
103
fill in the blank 5
fill in the blank 6
fill in the blank 7
fill in the blank 8
Supplies
4
fill in the blank 9
fill in the blank 10
fill in the blank 11
fill in the blank 12
Prepaid Insurance
2
fill in the blank 13
fill in the blank 14
fill in the blank 15
fill in the blank 16
Land
190
fill in the blank 17
fill in the blank 18
fill…
teps in the Accounting Cycle
Rearrange the following steps in the accounting cycle in proper sequence:
a. Transactions are analyzed and recorded in the journal.
b. An unadjusted trial balance is prepared.
c. Transactions are posted to the ledger.
d. Adjustment data are assembled and analyzed.
e. An adjusted trial balance is prepared.
f. Adjusting entries are journalized and posted to the ledger.
g. An optional end-of-period spreadsheet is prepared.
h. A post-closing trial balance is prepared.
i. Financial statements are prepared.
j. Closing entries are journalized and posted to the ledger.
Accounting Cycle
From the following list of steps in the accounting cycle, identify what two steps are missing:
Transactions are analyzed and recorded in the journal.
An unadjusted trial balance is prepared.
Adjustment data are assembled and analyzed.
An optional end-of-period spreadsheet is prepared.
Adjusting entries are journalized and posted to the ledger.
An adjusted trial balance is prepared.
Closing entries are journalized and posted to the ledger.
A post-closing trial balance is prepared.
Select the steps in the accounting cycle in their proper order in order and include the two missing steps.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Chapter 4 Solutions
Accounting (Text Only)
Ch. 4 - Why do some accountants prepare an end-of-period...Ch. 4 - Describe the nature of the assets that compose the...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Why are closing entries required at the end of an...Ch. 4 - What is the difference between adjusting entries...Ch. 4 - What is the purpose of the post-closing trial...Ch. 4 - Prob. 8DQCh. 4 - What is the natural business year?Ch. 4 - Prob. 10DQ
Ch. 4 - Prob. 4.1APECh. 4 - Flow of accounts into financial statements The...Ch. 4 - Statement of owner's equity Marcie Davies owns and...Ch. 4 - Statement of owners equity Blake Knudson owns and...Ch. 4 - Classified balance sheet The following accounts...Ch. 4 - Prob. 4.3BPECh. 4 - Closing entries After the accounts have been...Ch. 4 - Closing entries After the accounts have been...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Prob. 4.6APECh. 4 - Prob. 4.6BPECh. 4 - Flow of accounts into financial statements The...Ch. 4 - Prob. 4.2EXCh. 4 - Financial statements from the end-of-period...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Income statement The following account balances...Ch. 4 - Prob. 4.6EXCh. 4 - Prob. 4.7EXCh. 4 - Statement of owner's equity Apex Systems Co....Ch. 4 - Statement of owners equity; net loss Selected...Ch. 4 - Prob. 4.10EXCh. 4 - Balance sheet classification At the balance sheet...Ch. 4 - Balance sheet Optimum Weight Loss Co. offers...Ch. 4 - Prob. 4.13EXCh. 4 - Prob. 4.14EXCh. 4 - Closing entries Prior to its closing, Income...Ch. 4 - Closing entries with net income After all revenue...Ch. 4 - Closing entries with net loss Mira Services Co....Ch. 4 - Prob. 4.18EXCh. 4 - Prob. 4.19EXCh. 4 - Steps in the accounting cycle Rearrange the...Ch. 4 - Prob. 4.21EXCh. 4 - Prob. 4.22EXCh. 4 - Completing an end-of-period spreadsheet List (a)...Ch. 4 - Prob. 4.24EXCh. 4 - Prob. 4.25EXCh. 4 - Appendix Completing an end-of-period spreadsheet...Ch. 4 - Appendix Adjustment data on an end-of-period...Ch. 4 - Appendix Completing an end-of-period spreadsheet...Ch. 4 - Prob. 4.1APRCh. 4 - Financial statements and closing entries Finders...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - Financial statements and closing entries Last...Ch. 4 - Financial statements and closing entries The...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - The unadjusted trial balance of PS Music as of...Ch. 4 - Kelly Pitney began her consulting business, Kelly...Ch. 4 - Prob. 4.1CPCh. 4 - Financial statements The following is an excerpt...Ch. 4 - Financial statements Assume that you recently...
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- Appendix 1 Closing entries from an end-of-period spreadsheet Based on the data in Exercise 4-22, prepare the closing entries for Alert Security Services Co.arrow_forwardAppendix 1 Adjusting entries from an end-of-period spreadsheet Based on the data in Exercise 4-21, prepare the adjusting entries for Alert Security Services Co.arrow_forwardAppendix Completing an end-of-period spreadsheet Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.: Appendix Financial statements from an end-of-period spreadsheet Based on the data in Exercise 4-25, prepare an income statement, statement of owners equity, and balance sheet for Alert Security Services Co.arrow_forward
- Completing an end-of-period spreadsheet Alert Security Services Co. offers security- services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.: EX 428 Closing entries from an end-of-period spreadsheet Based on the data in Exercise 4-25, prepare the closing entries for Alert Security Services Co.arrow_forwardBrief Exercise 2-33 Posting Journal Entries Listed below are selected T-accounts and their beginning balances for Galle Inc. Required: Post the journal entries from Brief Exercise 2-32 to these accounts and compute the ending balance for each account.arrow_forwardCLOSING ENTRIES Using the spreadsheet and partially completed Income Summary Account on page 605 prepare the following: 1. Closing entries for Balloons and Baubbles in a general journal. 2. A post-closing trial balance. EXERCISE 15-5Barrow_forward
- Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.:arrow_forwardNumber in order the following steps in the accounting cycle: a. Prepare a trial balance. b. Post journal entries to the accounts in the ledger. c. Journalize and post the adjusting entries from the data on the work sheet. d. Analyze source documents and record business transactions in a journal. e. Prepare financial statements from the data on the work sheet. f. Gather adjustment data and record the adjusting entries on a work sheet. g. Journalize and post the closing entries. h. Prepare a post-closing trial balance. i. Complete the work sheet.arrow_forwardCLOSING ENTRIES Using the spreadsheet and partially completed Income Summary Account on page 598, prepare the following: 1. Closing entries for Gimbels Gifts and Gadgets in a general journal. 2. A post-closing trial balance. EXERCISE 15-5Aarrow_forward
- Rearrange the following steps in the accounting cycle in proper sequence:a. Transactions are analyzed and recorded in the journal.b. An unadjusted trial balance is prepared.c. Transactions are posted to the ledger.d. Adjustment data are assembled and analyzed.e. An adjusted trial balance is prepared.f. Adjusting entries are journalized and posted to the ledger.g. An optional end-of-period spreadsheet is prepared.h. A post-closing trial balance is prepared.i. Financial statements are prepared.j. Closing entries are journalized and posted to the ledger.arrow_forwardProblems 1. The following are all the steps in the accounting cycle. List them in the order in which they should be done. - Closing entries are journalized and posted to the ledger. - An unadjusted trial balance is prepared. - An optional end-of-period spreadsheet (work sheet) is prepared. - A post-closing trial balance is prepared. - Adjusting entries are journalized and posted to the ledger. - Transactions are analyzed and recorded in the journal. - Adjustment data are assembled and analyzed. - Financial statements are prepared. - An adjusted trial balance is prepared. - Transactions are posted to the ledger. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 2. The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet. Indicate whether each balance should be extended to (a) the Income Statement columns or (b) the…arrow_forward
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