ch4- recitation pr solutions

ch4- recitation pr solutions - (10-15 min.) E 4-16 Wireless...

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Unformatted text preview: (10-15 min.) E 4-16 Wireless Solutions Postclosing Trial Balance November 30, 2007 ACCOUNT DEBIT CREDIT Cash $ 3,500 Accounts receivable ($3,400 + $300) 3,700 Prepaid rent ($1,200 $800) 400 Supplies ($3,300 $1,600) 1,700 Equipment 34,100 Accumulated depreciation ($1,800 + $100) $ 1,900 Accounts payable 5,100 Salary payable ($0 + $500) 500 Charles Voss, capital (see solution to Ex. 4-15) 35,900 Total $43,400 $43,400 (15 min.) E 4-17 Reqs. 1 and 2 (T-Accounts) Prepaid Rent Rent Expense 400 5,800 6,000 5,800 600 Unearned Service Revenue Service Revenue 800 4,500 4,500 4,000 300 Reqs. 1 and 2 (4-Column Accounts) ACCOUNT PREPAID RENT DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 2006 Dec. 31 400 2007 a. 6,000 6,400 Dec. 31 b. 5,800 600 ACCOUNT RENT EXPENSE DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 2007 Dec. 31 b. 5,800 5,800 (continued) E 4-17 ACCOUNT UNEARNED SERVICE REVENUE DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 2006 Dec. 31 800 2007 c. 4,000 4,800 Dec. 31 d. 4,500 300 ACCOUNT SERVICE REVENUE DATE ITEM JRNL. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 2007 Dec. 31 d. 4,500 4,500 Req. 2 Journal ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT a. Prepaid Rent 6,000 Cash 6,000 b. Rent Expense 5,800 Prepaid Rent 5,800 c. Cash 4,000 Unearned Service Revenue 4,000 d. Unearned Service Revenue 4,500 Service Revenue 4,500 (10 min.) E 4-18 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Closing Entries Service Revenue 4,500 Income Summary 4,500 Income Summary 5,800 Rent Expense 5,800 (T-Accounts) Rent Expense Service Revenue 5,800 Clo. 5,800 Clo. 4,500 4,500 These accounts have zero balances after closing....
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ch4- recitation pr solutions - (10-15 min.) E 4-16 Wireless...

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