Exercise 2.1 Determining accounting equation amounts. LO 1, 2
Just before Anderson Laboratories opened for business, Roy Anderson, the owner, had
the following assets and liabilities.
Exercise 4.2 Recording transactions in the general journal. LO 1
Selected accounts from the general ledger of Vinzant Consulting Services follow. Record
the general journal entries that would be made to record the following transactions.
Setting up T accounts.
Williams Cleaning Service has the following account balances on December 31, 2013.
Set up a T account for each account and enter the balance on the proper side of the
Arrange the steps in accounting cycle in the proper sequence.
Analyze transactions .
Journalize the transactions .
Post the journal entries .
Prepare a worksheet .
Prepare financial statements .
Record adjusting entries .
Given Data P04.01A:
LANCASTER SPORTS ARENA
1 Issued Check 1169 to pay September rent.
5 Performed services for cash.
Notes from Your Instructor
Chapter 5 discusses end-of-the-period adjustments to some of the accounts and the
Worksheet, which is used to work out all of the end-of-the-period numbers before
preparing the financial statements.
The first two colum
' SHOWTIME! - COMMENT OUT NEXT LINE FOR SHOWTIME
' SHOWTIME! - UNCOMMENT NEXT LINE FOR SHOWTIME (and search for other SHOWTIME!
On Error Resume Next
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