A partially completed worksheet for Christopher Cobb, CPA, for the month ending June 30, 2016, is shown below.

INSTRUCTIONS
1. Record the balances as of June 30 in the ledger accounts.
2. Prepare the worksheet.

3. Journalize (use 3 as the journal page number) and post the adjusting entries. Use account number 121 for Supplies; 131 for Computers; 142 for the Accumulated Depreciation account; 309 for Income Summary; 517 for Supplies Expense; 519 for Travel Expense; and 523 for Depreciation Expense.
4. Journalize (use 4 as the journal page number) and post the closing entries.
5. Prepare a postclosing trial balance.
Analyze: What is the reported net income for the month of June for Christopher Cobb,CPA?

Transcribed Image Text:

Christopher Cobb, CPA Worksheet Month Ended June 30, 2016 TRIAL BALANCE ADJUSTMENTS ACCOUNT NAME DEEIT 63 90 0 00 22 68 0 00 31 500 00 57 6 00 00 CREDIT DEEIT CREDIT Cash Accounts Receivable Supplies Computers Accumulated Depreciation Computers Accounts Payable Christopher Cobb, Copital Christopher Cobb, Drawing Fees Income Salares Expense Supplies Expense Depreciation Expense Computers Trovel Expense Utitities Expense Totals (a) 5 400 b) 5 7 60 00 25 2 00 00 124 470 00 48 0 00 24 00 0 00 135 9 00 00 75 450 00 (o) 5 400 00 (b) 4 80 00 10 8000 5 400 00 291 3 3 0 00 291 3 3 0 00 5 8 8 0 00 ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET DEBIT CREDIT DEBIT 32 40 0 00 6 000 00 3 000 00 32 400 00 6 000 00 3 000 00 기8100100 60 o 00 00 6001010: 00 1500 0 9 000 1500 00 9000 00 82 200 00 82 2 0 0 8 400 00 6 8 0 0 46 8 0 1200 00 1500 00 14 400 00 139 5 0oo0 21 9 0 0 0 117 6 00 00 92 700 00 249 0 0 00 117 6 0 0 00 139 50 0 00 46 8 00 117 6 00 00