ch04 - Exercise Set B - Chapter 4 EXERCISES: SET B E4-1B...

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Complete the worksheet. (SO 1) EXERCISES: SET B E4-1B The trial balance columns of the worksheet for Gomez Company at June 30, 2010, are as follows. GOMEZ COMPANY Worksheet for the Month Ended June 30, 2010 Trial Balance Account Titles Dr. Cr. Cash $1,760 Accounts Receivable 2,100 Supplies 1,320 Accounts Payable $1,080 Unearned Revenue 360 Arlem Gomez, Capital 2,280 Service Revenue 2,100 Salaries Expense 500 Miscellaneous Expense 140 $5,820 $5,820 Other data: 1. A physical count reveals $250 of supplies on hand. 2. $120 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $250. Instructions Enter the trial balance on a worksheet and complete the worksheet. E4-2B The adjusted trial balance columns of the worksheet for Besa Company are as follows. BESA COMPANY Worksheet (partial) for the Month Ended April 30, 2010 Adjusted Trial Income Balance Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Cash 11,400 Accounts Receivable 7,000 Prepaid Rent 2,000 Equipment 20,000 Accumulated Depreciation 4,200 Notes Payable 5,000 Accounts Payable 4,950 K. Besa, Capital 25,800 K. Besa, Drawing 3,500 Service Revenue 14,500 Salaries Expense 9,430 Rent Expense 500 Depreciation Expense 600 Interest Expense 50 Interest Payable 50 Totals 54,500 54,500 Complete the worksheet. (SO 1) Chapter 4
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16 Chapter 4 Completing the Accounting Cycle Instructions Complete the worksheet. E4-3B Worksheet data for Besa Company are presented in E4-2B.The owner did not make any additional investments in the business in April. Instructions Prepare an income statement, an owner’s equity statement, and a classified balance sheet. E4-4B Worksheet data for Besa Company are presented in E4-2B. Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and K. Besa, Capital. Use T accounts. (c) Prepare a post-closing trial balance at April 30. E4-5B The adjustments columns of the worksheet for Miller Company are shown below. Adjustments Account Titles Debit Credit Accounts Receivable 1,100 Prepaid Insurance 500 Accumulated Depreciation 1,250 Salaries Payable 650 Service Revenue 1,100 Salaries Expense 650 Insurance Expense 500 Depreciation Expense 1,250 3,500 3,500 Instructions (a) Prepare the adjusting entries. (b) Assuming the adjusted trial balance amount for each account is normal, indicate the finan- cial statement column to which each balance should be extended. E4-6B Selected worksheet data for Norris Company are presented below. Adjusted Account Titles Trial Balance Trial Balance Dr. Cr. Dr. Cr. Accounts Receivable ? 35,000 Prepaid Insurance 28,000 24,000 Supplies 8,000 ? Accumulated Depreciation 24,000 ? Salaries Payable
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This note was uploaded on 09/19/2010 for the course ACCT 220 taught by Professor Ullmann during the Fall '10 term at University of Nebraska Kearney.

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ch04 - Exercise Set B - Chapter 4 EXERCISES: SET B E4-1B...

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