E4-1-3 P4-1A - Name: Jahde Goncalves Date: Ufuoma Omosebit...

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Name: Jahde Goncalves Date: Instructor: Ufuoma Omosebit Course: a) Exercise E4-1 CAJON COMPANY Work Sheet (Partial) For the Month Ended April 30, 2006 Adjusted Trial Balance Income S Debit Credit Debit Cash $14,752 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accum Dep - Equip $4,921 Notes Payable 5,700 Accounts Payable 5,672 Common Stock 25,000 Retained Earnings 8,960 Dividends 3,650 Service Revenue 12,590 Salaries Expense 9,840 $9,840 Rent Expense 760 760 Depreciation Expense 671 671 Interest Expense 57 57 Interest Payable 57 Totals $62,900 $62,900 $11,328 Net income 1,262 Totals $12,590 Exercise E4-1 Instructions: Complete the work sheet, above. (1) Apr 30 Service Revenue 12,590 Income Summary (To close Revenue account) (2) Apr 30 Income Summary 11,328 Salaries Expense Rent Expense Depreciation Expense Interest Expense (To close Expense Accounts) (3) Apr 30 Income Summary 1,262 Retained Earnings (To Net Income to Retained Earnings) (4) Apr 30 Retained Earnings 3,650 Dividends (To close dividends to Retained Earnings) Income Summary (2) 11,328 (1) 12,590 (4) Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel Solving Financial Accounting Problems Using Microsoft Excel for Window b) Exercise E4-3 Instructions: (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts.
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1,262 12,590 12,590 CAJON COMPANY Post-Closing Trial Balance April 30, 2006 Debit Cash $14,752 Accounts Receivable $7,840 Prepaid Rent $2,280 Equipment $23,050 Accum Dep - Equip Notes Payable Accounts Payable Common Stock
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E4-1-3 P4-1A - Name: Jahde Goncalves Date: Ufuoma Omosebit...

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