Excel File Edit View Insert Format Tools Data Window Help S! G Q 8 Fri Jun 9 3:39 PM AutoSave OFF - G... Comp. prob. 8-10 mod 61 Home Insert Draw Page Layout Formulas Data Review View Tell me Comments Share Arial v 10 VA A ab Wrap Text v General V v Paste BIUVE DVAv E = Merge & Center v $ ~ % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data S159 X V fx COMPREHENSIVE PROBLEM T - The following ledger accounts appear below, in this order: Cash, Accounts Receivable, Supplies, Prepaid Rent, Prepaid Insurance, Office Equipment, Accumulated Depreciation, Accounts Payable, Salaries Payable, Unearned Fees, Common Stock, Retained Earnings, Dividends Beginning balances from the textbook have already been entered The entries in the ledgers will not grade or mark correct or incorrect. LEDGERS - Balance Sheet accounts Cash Post Balance Date Item Ref. Dr. Cr. Dr. Cr. 5/1 Balance 22, 100 5/3 Cash from Customer 4,500 26,60 5/5 Cash from Customer 2,450 29,050 5/9 Advertising 225 28,825 5/13 Office Station 640 28, 185 5/16 Salary Expense 750 27,435 7 Fees Eamed 8,360 35,795 5/25 Cash from Customer 7,900 43,695 7 Cash on aacount 9,520 53,215 5/28 Salary Expense 750 52 ,465 5/30 Telephone Bill May 260 52,205 5/31 Electric Bill May 810 51,395 5/31 Fees Eamed 3,300 54.695 5/31 Dividends Payment 10,500 44, 195 Accounts Receivable Pos Balance Date Item Ref. Dr. Cr. Dr. Cr. 5/1 Balance 3,400 5/5 Payment on the account 2,450 950 5/15 Svcs. On 5/1-5/15 9,180 10, 130 5/21 Svcs on 5/1 16-5/20 4,820 14,950 5/27 Daumant on the account = 120 Income Statement Accounts Balance Sheet Accounts + Ready x Accessibility: Investigate - + 100% FilJun 9 9:14 AM Comp. prob. 8-10 Q v2.cengagenow.com mod 6.xltx oblem: Parts 8-10 JUN 1 tv 9 G XExcel File Edit View Insert Format Tools Data Window Help S! G Q 8 Fri Jun 9 3:39 PM AutoSave OFF - G... Comp. prob. 8-10 mod 61 Home Insert Draw Page Layout Formulas Data Review View Tell me Comments Share Arial v 10 VA A = = ab Wrap Text v General V v Paste BIUVE DVAv E E Merge & Center v $ ~ % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data S159 X V fx 5/31 Electric Bill May 810 51,395 5/31 Fees Eamed 3,300 54,695 5/31 Dividends Payment 10,500 44, 195 Accounts Receivable Pos Balance Date Item Ref . Dr. Cr. Dr. Cr. 5/1 Balance V 3,400 5/5 Payment on the account 2,450 950 5 Svcs. On 5/1-5/15 9,180 10, 130 5/21 Svcs on 5/1 16-5/20 4,820 14,950 5/27 Payment on the account 9,520 5,430 5/31 Svcs. Rest of May 2,650 8,080 Supplies Post Balance Date Item Ref. Dr Cr. Dr. Cr. 5/1 Balance 1,350 5/26 Supplies Purchase 735 2,085 5/31 Supplies on Hand 1,370 715 Prepaid Rent 15 Post Balance Date Item Ref. Dr. Cr. Dr. Cr. 5/1 Balance 3,200 5/31 Rant Exnired 1 Ann 1 Ann Income Statement Accounts Balance Sheet Accounts + Ready UX Accessibility: Investigate - + 100% Fil Jun 9 9:14 AM * v2.cengagenow.com Comp. prob. 8-10 mod 6.xltx oblem: Parts 8-10 JUN 1 tv 9 G XSafari File Edit View History Bookmarks Window Help S! G Q 8 Fri Jun 9 9:13 AM G v2.cengagenow.com Comprehensive Problem: Parts 8-10 1. COMPPRO.01.01.PART. 10 Kelly Consulting ? Post-Closing Trial Balance 2. COMPPRO.01.01.PART.9 May 31, 20Y8 Account Title 3. COMPPRO.01.01.PART.8 Debit Balances Credit Balances Cast 44,195 Accounts Receivable 8,080 Supplies 715 Prepaid Rent V 1,600 Prepaid Insurance 1,225 V Office Equipment 14,500 V ulated De 660 Accounts Payable 895 Salaries Payable 325 Unearned Fees 3,210 Common Stock 30,000 V Retained Earnings 35,225 70,315 V 70,315 Feedback df Progress: 1/3 items Check My Work Next Assignment Score: 100% Email Instructor Save and Exit Submit Assignment for Grading O JUN "tv A 9 G W.. 6 Safari File Edit View History Bookmarks Window Help PI 6 e \\ iii '5' Q g A FriJun99113AM O . 2 v ( G O Hchengagenowcom .0 [I] + ('1 Comprehensive Problem: Parts 8-10 . Part 9: Prepare the closing entries below. Then, using the attached spreadsheet from part 2, post the entries to your general ledger. If an amount box does not require an entry, leave it blank. 1, COMPPR0.01.01.PART.10 2. COMPPR0.01.01,PART.9 0 Date Account Name Post. Ref. Debit Credit 3. COMPPR0.01,01.PART.8 0 20Y8 Closing Entries May 31 Fees Earned ' V 41 V 40,000 V 0 V Salary Expense - V 51 V 0 V 1,705 V Rent Expense . V 752 V 0 V 1,600 V Supplies Expense - V 53 V 0 V 1,370 V Depreciation Expense v V 54 V V 330 V Insurance Expense V' V 55 V 0 V 275 V 0 Miscellaneous Expense v V 59 V 0 V W V if Retained Earnings v V 32 V 0 V 33,425 V May 31 Retained Earnings v V 32 V W V 0 V Dividends . V 33 V 0 V 10,500 V Feedback VCheckMprrk In preparing closing entries, recall that (1) revenue accounts are debited for their balances and expense accounts are credited for their balances. The A!\" i... cu. an... ......m...4 I A .\\ .. A'Lhnd I- x... .L.-. .4 \"A - . Ch kM w k ( Previous Next ) Progress: 2/3 Items Assignment Score: 100% bmit Assignment for Gradin \"9* EL. iii-m!\" Safari File Edit View History Bookmarks Window Help S! G Q 8 Fri Jun 9 9:14 AM O.. B V G v2.cengagenow.com Comprehensive Problem: Parts 8-10 1. COMPPRO.01.01.PART. 10 ? Kelly Consulting Income Statement 2. COMPPRO.01.01.PART.9 For the Month Ended May 31, 20Y8 3. COMPPRO.01.01.PART.8 Fees earned $ 40,000 Expenses: Salary expense 1,705 Rent expense 1,600 Supplies expense 1,370 Depreciation expense 330 Insurance expense 275 Miscellaneous expense 1,295 Total expenses 6,575 V Net income $ 33,425 Prepare a statement of stockholders' equity. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Kelly Consulting Statement of Stockholders' Equity For the Month Ended May 31, 20Y8 Progress: 3/3 items Check My Work Previous Assignment Score: 100% Email Instructor Save and Exit Submit Assignment for Grading JUN "tv A 9 G WSafari File Edit View History Bookmarks Window Help S! G Q 8 Fri Jun 9 9:14 AM O.. B V G v2.cengagenow.com Comprehensive Problem: Parts 8-10 ? 1. COMPPRO.01.01.PART. 10 Kelly Consulting Statement of Stockholders' Equity 2. COMPPRO.01.01.PART.9 For the Month Ended May 31, 20Y8 3. COMPPRO.01.01.PART.8 Retained Common Stock Earnings Total Balances, May 1, 20Y8 $ 30,000 12,300 V $ 42,300 Net income 33,425 33,425 Dividends -10,500 V -10,500 Balances, May 31, 20Y8 $ 30,000 $ 35,225 $ 65,225 Prepare a balance sheet. Kelly Consulting Balance Sheet May 31, 20Y8 Assets Liabilities Current assets: nt liabiliti Cash $ 44,195 Accounts payable 895 Accounts receivable 8,080 Salaries payable 325 Supplies 715 Unearned fees 3,210 Prepaid rent 1,600 Progress: 3/3 items Check My Work Previous Assignment Score: 100% Email Instructor Save and Exit Submit Assignment for Grading JUN "tv A 9 WSafari File Edit View History Bookmarks Window Help S! G Q 8 Fri Jun 9 9:14 AM O.. B V G v2.cengagenow.com OU+O Comprehensive Problem: Parts 8-10 Kelly Consulting ? 1. COMPPRO.01.01.PART. 10 Balance Sheet 2. COMPPRO.01.01.PART.9 May 31, 20Y8 Assets Liabilities 3. COMPPRO.01.01.PART.8 Current assets: Current liabilities: Cash $ 44,195 Accounts payable $ 895 Accounts receivable 8,080 Salaries payable 325 Supplies 715 Unearned fees 3,210 Prepaid rent 1,600 Prepaid insurance 1,225 Total liabilities $ 4,430 Total current assets 55,815 , plant, and equipment: Stockholders' Equity Office equipment $ 14,500 Common stock $ 30,000 nulated depreciation 660 Retained earnings 35,225 Total property, plant, and equipment 13,840 V Total stockholders' equity Accounting numeric field $ Total liabilities and stockholders' Total assets 69,655 $ 69,655 equity Feedback Check My Work Progress: 3/3 items Check My Work Previous Assignment Score: 100% Email Instructor Save and Exit Submit Assignment for Grading O JUN "tv A 9 W