Horngren's Accounting (11th Edition)
11th Edition
ISBN: 9780133856781
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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| Account Title | Debit | Credit |
| Cash | J. 16,i/0 | |
| Accounts Receivable | 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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On November 1, 2022, the account balances of Blue Spruce Corp. were as follows.
No.
Debits
No.
Credits
101
Cash
$2,880
154
Accumulated Depreciation-Equipment
$2,400
112
Accounts Receivable
5,100
201
Accounts Payable
3,120
126
Supplies
2,160
209
Unearned Service Revenue
1,440
153
Equipment
14,400
212
Salaries and Wages Payable
840
311
Common Stock
12,000
320
Retained Earnings
4,740
$24,540
$24,540
During November, the following summary transactions were completed.
Nov. 8
Paid $2,040 for salaries due employees, of which $840 is for October salarles.
10
Received $4.096 cash from customers on account.
12
Received $3,720 cash for services performed in November.
15
Purchased equipment on account $2,400.
17
Purchased supplies on account $840.
20
Paid creditors on account $3,240.
22
Paid November rent $480.
25
Paid salaries $2,040.
27
Performed services on account and billed customers $2,280 for these services.
29
Recelved $720 from customers for future service.
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mework
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Journal entry worksheet
1
3
4
8
9
10
Provided $57,971 in service to customers during the year, with $21,658 on
account and the rest received in cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
Record entry
Clear entry
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Print Item
From the data below for Wong Company, prepare the closing entries for the year ended December 31.
Cash dividends
$47,000
Sales
982,600
Sales returns and allowances
3,960
Interest revenue
10,521
Factory overhead (debit)
210,620
Factory overhead (credit)
210,620
Cost of goods sold
726,820
Wages expense
130,745
Supplies expense
9,900
Depreciation expense-office equipment
6,900
Utilities expense
5,840
Bad debt expense
1,680
Advertising expense
11,120
Interest expense
9,860
Income tax expense
32,050
If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
Chapter 4 Solutions
Horngren's Accounting (11th Edition)
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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