MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting
11th Edition
ISBN: 9780133877571
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
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
To Unearned service revenue
12,000
By Office Rent
85,000
To Accounts Receivable
35,500
By Accounts Payable
20,800
By Drawings
15,300
By Balance C/d
14,200
Total
248,000
Total
248,000
2. Truck A/c
PARTICULAR
DEBIT
PARTICULAR
CREDIT
To Capital
250,000
By Balance c/d
250,000
Total
250,000
Total
250,000
3. Capital A/c
PARTICULAR
DEBIT
PARTICULAR
CREDIT
To Balance c/d
430,000
By Cash
180,000
By Truck
250,000
Total
430,000
Total
430,000
4. Supplies A/c
PARTICULAR
DEBIT
PARTICULAR
CREDIT
To Cash
19,000
By Balance C/d
19,000
Total
19,000
Total
19,000
5. Prepaid Insurance
PARTICULAR
DEBIT
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
MyLab Accounting with Pearson eText -- Access Card -- for 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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