Alshwer Company Worksheet For Year Ended December 31, 2017 Adjusted Trial Balance Account Number Account Title Dr.
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Alshwer Company Worksheet For Year Ended December 31, 2017 | |||
Adjusted Trial Balance | |||
Account Number | Account Title | Dr. | Cr. |
101 | Cash | 5400 | |
112 | Accounts Receivable | 10700 | |
126 | Supplies | 1400 | |
130 | Prepaid Insurance | 1900 | |
157 | Equipment | 26700 | |
158 | Accumulated Depreciation-Equipment | 5600 | |
200 | Notes Payable | 12400 | |
201 | Accounts Payable | 6400 | |
212 | Salaries and Wages Payable | 2200 | |
230 | Interest Payable | 700 | |
311 | Common Stock | 10800 | |
320 | Retained Earnings | 4200 | |
332 | Dividends | 6400 | |
400 | Service Revenue | 60400 | |
610 | Advertising Expense | 8900 | |
631 | Supplies Expense | 4000 | |
711 | Depreciation Expense | 5600 | |
722 | Insurance Expense | 3100 | |
726 | Salaries And Wages Expense | 27900 | |
905 | Interest Expense | 700 | |
Totals | 102700 | 10270 |
INCOME STATEMENT | ||
Service revenue | 60400 | |
Expenses: | ||
Advertising Expense | 8900 | |
Supplies Expense | 4000 | |
Depreciation Expense | 5600 | |
Insurance Expense | 3100 | |
Salaries And Wages Expense | 27900 | |
Interest Expense | 700 | 50200 |
Net Income | 10200 | |
STATEMENT OF RETAINED EARNINGS | ||
Beginning balance | 4200 | |
Add: Net income for the year | 10200 | |
14400 | ||
Less: Dividends | 6400 | |
Ending balance | 8000 | |
BALANCE SHEET | ||
ASSETS | ||
Current Assets: | ||
Cash | 5400 | |
Accounts Receivable | 10700 | |
Supplies | 1400 | |
Prepaid Insurance | 1900 | 19400 |
Non current assets: | ||
Equipment | 26700 | |
Accumulated Depreciation-Equipment | 5600 | 21100 |
Total Assets | 40500 | |
LIABILITIES & EQUITY | ||
Current liabilities: | ||
Notes Payable | 5290 | |
Accounts Payable | 6400 | |
Salaries and Wages Payable | 2200 | |
Interest Payable | 700 | 14590 |
Long term liabilities: | ||
Notes Payable | 7110 | |
Total liabilities | 21700 | |
Equity: | ||
Common Stock | 10800 | |
Retained Earnings | 8000 | 18800 |
Total liabilities & equity | 40500 | |
CLOSING ENTRIES: | ||
Income summary | 50200 | |
Advertising Expense | 8900 | |
Supplies Expense | 4000 | |
Depreciation Expense | 5600 | |
Insurance Expense | 3100 | |
Salaries And Wages Expense | 27900 | |
Interest Expense | 700 | |
(Expense accounts closed to income summary) | ||
Service revenue | 60400 | |
Income summary | 60400 | |
(Revenue closed to income summary) | ||
Income summary | 10200 | |
Retained Earnings | 10200 | |
(Net income closed to retained earnings) | ||
Retained Earnings | 6400 | |
Dividends | 6400 | |
(Dividends closed to retained earnings) |
A: Post the closing entries. (Post entries in the order of journal entries presented in closing entries.)
B: Prepare a post-closing trial balance.
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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