Horngren's Accounting
11th Edition
ISBN: 9780133851151
Author: MILLER-NOBLES, Tracie L., Mattison, Brenda., Matsumura, Ella Mae, Horngren, Charles T.
Publisher: Pearson,
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Textbook Question
Chapter 4, Problem P4.31APGA
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B.il/wce
Account Title | Debit | Credit |
Cash | J. 16,i/0 | |
16.500 | ||
Prepaid Rent | 2.530 | |
Office Supplies | 1.800 | |
Equipment | 29.000 | |
$ 10,000 | ||
Accounts Payable | 6.600 | |
Salaries Payable | ||
Unearned Revenue | 7,200 | |
Williamson, Capital | 28,000 | |
Williamson. Withdrawals | 3,500 | |
Service Revenue | 20,500 | |
Salaries Expense | 2.600 |
Rent Expense
Depreciation Expense-Equipment
Supplies Expense
Total S 72,300 S 72,300
Adjustment data:
- Unearned Revenue still unearned at December 31, $3,300.
- Prepaid Rent still in force at December 31, $2,400.
- Office Supplies used, $1,200.
- Depreciation, $350.
- Accrued Salaries Expense at December 31, $230.
Requirements
- Open the T-accounts using the balances in the unadjusted
trial balance . - Complete the worksheet for the year ended December 31,2016. (optional)
- Prepare the
adjusting entries , and post to the accounts. - Prepare an adjusted trial balance.
- Prepare the income statement, the statement of owner's equity, and the classified
balance sheet in report form. Assume that there were no contribution.', made by the owner during the year. - Prepare the closing entries, and post to the accounts.
- Prepare a post-closing trial balance.
- Calculate the
current ratio for the company.
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T Accounts
1. Cash A/c
PARTICULAR
DEBIT
PARTICULAR
CREDIT
To Capital
180,000
By Supplies
19,000
To service revenue
5,500
By Prepaid Insurance
28,000
To Service revenue
15,000
By Salary
65,700
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By Office Rent
85,000
To Accounts Receivable
35,500
By Accounts Payable
20,800
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248,000
Total
248,000
2. Truck A/c
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PARTICULAR
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250,000
Total
250,000
Total
250,000
3. Capital A/c
PARTICULAR
DEBIT
PARTICULAR
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430,000
By Cash
180,000
By Truck
250,000
Total
430,000
Total
430,000
4. Supplies A/c
PARTICULAR
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PARTICULAR
CREDIT
To Cash
19,000
By Balance C/d
19,000
Total
19,000
Total
19,000
5. Prepaid Insurance
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PARTICULAR
CREDIT
To Cash
28,000
By Balance c/d…
1/2 Purchased $600 of supplies from Office Hoard Corp on account with terms 2/10, n/30.
1/ 8 Paid off account with Office Hoard Corp with cash.
Record these transacation
Given:
Account Payable $10700
Cash $7000
Owner's Capital $16200
Owner's Drawing $3800
Equipment $15600
Service Revenue $12600
Account Receivable $5600
Salaries and Wages Expense $3900
Rent Expense $3600
Based on the account amount, prepare a trial balance.
Chapter 4 Solutions
Horngren's Accounting
Ch. 4 - Assets are listed on the balance sheet in the...Ch. 4 - Which of the following accounts would be included...Ch. 4 - Which situation indicates a net loss within the...Ch. 4 - Which of the following accounts is not closed?...Ch. 4 - What do closing entries accomplish? Learning...Ch. 4 - Which of the following is not a closing entry?...Ch. 4 - Which of the following accounts may appear on a...Ch. 4 - 8. Which of the following steps of the accounting...Ch. 4 - Clean Water Softener Systems has Cash of $600,...Ch. 4 - Which of the following statements concerning...
Ch. 4 - What document are financial statements prepared...Ch. 4 - What does the income statement report?Ch. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Why are financial statements prepared in a...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - How could a worksheet help in preparing financial...Ch. 4 - If a business had a net loss for the year, where...Ch. 4 - Prob. 12RQCh. 4 - What are temporary accounts? Are temporary...Ch. 4 - What are permanent accounts? Are permanent...Ch. 4 - How is the Income Summary account used? Is it a...Ch. 4 - Prob. 16RQCh. 4 - If a business had a net loss for the year, what...Ch. 4 - What types of accounts are listed on the...Ch. 4 - Prob. 19RQCh. 4 - What is the current ratio, and how is it...Ch. 4 - Prob. 21ARQCh. 4 - Prob. S4.1SECh. 4 - Prob. S4.2SECh. 4 - Prob. S4.3SECh. 4 - Preparing a balance sheet (classified, report...Ch. 4 - Classifying balance sheet accounts Learning...Ch. 4 - Prob. S4.6SECh. 4 - Prob. S4.7SECh. 4 - Prob. S4.8SECh. 4 - Prob. S4.9SECh. 4 - Prob. S4.10SECh. 4 - S412 Identifying accounts included on a...Ch. 4 - Identifying steps in the accounting cycle Learning...Ch. 4 - Prob. S4.13SECh. 4 - Prob. S4.14SECh. 4 - Prob. E4.15ECh. 4 - Classifying balance sheet accounts Learning...Ch. 4 - Prob. E4.17ECh. 4 - Prob. E4.18ECh. 4 - Prob. E4.19ECh. 4 - Prob. E4.20ECh. 4 - Prob. E4.21ECh. 4 - Prob. E4.22ECh. 4 - Preparing a worksheet and closing entries Jadence...Ch. 4 - I 2 I I’rcpai ing t losing end ics I rom an...Ch. 4 - a post-dosing trial balance rics* illic r. s ano a...Ch. 4 - Prob. E4.26ECh. 4 - Prob. E4A.27ECh. 4 - Prob. P4.28APGACh. 4 - 'v"-1 evaluate a company •""' UM"B tl,e r“" ratio...Ch. 4 - Preparing a worksheet, financial statements, and i...Ch. 4 - WIUIAMt Osy ANVILS UrMdjuMvd lr „ ik'Uno. l>cu...Ch. 4 - Completing the accounting cycle from journal...Ch. 4 - Prob. P4.33APGACh. 4 - Prob. P4.34BPGBCh. 4 - Prob. P4.35BPGBCh. 4 - Preparing a worksheet, financial statements, and...Ch. 4 - Prob. P4.37BPGBCh. 4 - Completing d««„„„u„g cycle 6mm inn.n.l cn.ric, .0...Ch. 4 - Prob. P4.39BPGBCh. 4 - Completing the accounting cycle from adjusted...Ch. 4 - Prob. P4.41PSCh. 4 - Prob. 1.1CPCh. 4 - Prob. 1.2CPCh. 4 - Prob. 1.3CPCh. 4 - Prob. 1.4CPCh. 4 - Magness Delivery Service completed the fblowing...Ch. 4 - Prob. 1.6CPCh. 4 - Prob. 1.7CPCh. 4 - Prob. 1.8CPCh. 4 - Prob. 1.9CPCh. 4 - Prob. 2.1CPCh. 4 - Prob. 2.2CPCh. 4 - Prob. 2.3CPCh. 4 - Prob. 2.4CPCh. 4 - Prob. 2.5CPCh. 4 - Prob. 2.6CPCh. 4 - Prob. 2.7CPCh. 4 - Prob. 2.8CPCh. 4 - Prob. 4.1EICh. 4 - Prob. 4.1FCCh. 4 - Prob. 4.1FSC
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