Name Chapter 4 219 COMPREHENSIVE PROBLEM 1, Concluded 10. Post-Closing Trial Balance C. 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.b. Journallze and post the adjusting entries. 7. Prepare an adjusted trial balance. 8. Prepare an Income Statement, Statement of Owner's Equity, and Balance Sheet. 9. Record and post the closing entries. Indicate closed accounts in the ledger by inserting a line in both of the Balance columns opposite each closing entry. 10.Prepare a post-closing trial balance. OJB COMPANY: Chart of Accounts 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 31 OJB, Capital 32 OJB, Drawing 41 Fees Earned 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense OJB COMPANY P | in Tri IE I n an a 1 2016 DEBIT CREDIT Cash 22,100 Arrmmh: Rprniuahlp 2 4m OJB COMPANY Post Closing Trial Balance an a 1 2016 DEBIT CREDIT Cash 22,100 Accounts Receivable 3,400 Supplies 1,350 Prepaid Rent 3,200 Prepaid Insurance 1500 Ofce Equipment 14,500 Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees OJB, Capital 2018 Cengage. May not be scanned, copi accessible website, in whole or in part. Name Chapter 4 215 COMPREHENSIVE PROBLEM 1, Continued 7. Adjusted Trial Balance C 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 216 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued 8. O Income Statement O Statement of Owner's Equity 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 2172018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 211 7 of 16 ENSIVE PROBLEM 1, Continued AULUUN Supplies Expense ACCOUNT NO. 53 DATE ITEM POST. DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Depreciation Expense ACCOUNT NO. 54 DATE ITEM POST REF. DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Insurance Expense ACCOUNT NO. 55 DATE ITEM REF CREDIT BALANCE C DEBIT DEBIT CREDIT ACCOUNT Miscellaneous Expense ACCOUNT NO. 59 DATE ITEM REF DEBIT CREDIT BALANCE DEBIT CREDIT 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 212 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued 3. O Unadjusted Trial Balance O O 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.Name Chapter 4 205 COMPREHENSIVE PROBLEM 1 1. and 2. JOURNAL PAGE 5 DATE DESCRIPTION POST REF . DEBIT CREDIT C 18 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 206 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued JOURNAL PAGE 6 O DATE DESCRIPTION POST. REF . DEBIT CREDIT O 18 18 18 18 12 18 18 8 8 18 18 12 18 IN 12 18 8 6 4 18 8 2 6 6 : 18 0 0 V o a 6 0 N - O 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 207 3 of 15 ENSIVE PROBLEM 1, Continued GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. 11 DATE ITEM POST REF . DEBIT CREDIT BALANCE DEBIT CREDIT G ACCOUNT Accounts Receivable ACCOUNT NO. 12 DATE ITEM POST REF DEBIT CREDIT BALANCE DEBIT CREDIT 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 208 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued ACCOUNT Supplies O ACCOUNT NO. 14 DATE ITEM POST DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Prepaid Rent ACCOUNT NO. 15 DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Prepaid Insurance ACCOUNT NO. 16 DATE ITEM POST. REF DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Office Equipment ACCOUNT NO. 18 DATE ITEM POST BALANCE REF . DEBIT CREDIT DEBIT CREDIT ACCOUNT Accumulated Depreciation-Office Equipment ACCOUNT NO. 19 DATE ITEN POST. DEBIT CREDIT BALANCE DEBIT CREDIT 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 2092018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 217 ED 14 of 15 SIVE PROBLEM 1, Continued Balance Sheet C 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 218 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued 9. O JOURNAL PAGE 8 DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries O 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly access in whole or in part. Name Chapter 4 2192018 Cengage. May not be scann website, in whole or in part. Name Chapter 4 209 ENSIVE PROBLEM 1, Continued 6 of 15 Accounts Payable ACCOUNT NO. 21 DATE ITEM POST. DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Salaries Payable ACCOUNT NO. 22 DATE ITEM REF. DEBIT CREDIT BALANCE DEBIT CREDIT C ACCOUNT Unearned Fees ACCOUNT NO. 23 DATE ITEM POST. REF . DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Capital ACCOUNT NO. 31 DATE ITEM REF DEBIT CREDIT BALANCE DEBIT CREDIT 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 210 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued ACCOUNT Drawing O ACCOUNT NO. 32 DATE ITEM POST REF . DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Fees Earned ACCOUNT NO. 41 DATE POST. ITEM REF . DEBIT CREDIT BALANCE DEBIT CREDIT O ACCOUNT Salary Expense ACCOUNT NO. 51 DATE ITEM POST REF . DEBIT CREDIT BALANCE DEBIT CREDIT ACCOUNT Rent Expense ACCOUNT NO. 52 DATE ITEM POST DEBIT CREDIT BALANCE DEBIT CREDIT 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 2112018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 4 10 of 15 jued B C D E F G H K End-of-Period Spreadsheet (Work Sheet) LAWN- Unadjusted Adjusted Income Balance Trial Balance Adjustments Trial Balance Statement Sheet 6 Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 10 11 12 13 14 15 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. O O O 214 Name Chapter 4 COMPREHENSIVE PROBLEM 1, Continued 6. O JOURNAL PAGE 7 DATE DESCRIPTION POST. REF , DEBIT CREDIT Adjusting Entries 18 18 18 19 18 18 18 9 18 18 18 18 18 12 18 6 8 3 8 16 2 8 6 : 8 0 0 vo a W N 18 18 18 12 18 18 18 15 8 8 2 8 O 2018 Cengage. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Name Chapter 4 215 COMPREHENSIVE PROBLEM 1, Continued 7. Adjusted Trial BalanceOJB COMPANY: February 2016 Transactions_ OJB Company began started its business in January 2016. The following transactions occurred in February 2016: Feb Purchased supplies on account, $ 400. Received cash from customers on account, $ 1,750. Paid 515 400 on account. U'ICAJNl Paid technician $ 750 in salary, including the amount owed at the end of January. 8 Billed customers for services provided on account, $ 3,200. 11 Paid cash for advertising on a local website, 55 400. 12 Received $ 3,670 cash for fees earned forjobs completed. 16 Paid electricity bill for the month, $ 290. 17 Received 515 8,800 cash for fees earned forjobs completed. 19 Paid technician $ 750 in salary. 20 Billed customers for services provided on account, 35 6,100. 22 Received cash from customers on account, $ 9,500. 25 Paid phone bill for the month, $ 180. 26 Received cash from customers as an advance payment for technical support services to be provided in the future, 55 2,500. 27 Billed customers for services provided on account, $ 3,900. 28 Received cash from customers on account, $ 5,100. 28 OJB withdrew $8,000 for personal use. Comprehensive Problem - Instructions 1. The chart of accounts and the post-closing trial balance as of January 31, 2016 are given. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the ledger. Date the balances January 31, 2016, and place a check mark ( J ) in the Posting Reference column. Journalize each of the February transactions in the journal provided using OJB Company's chart of accounts. (Do not insert the account numbers in the journal at this time). 2. Post the journal to the ledger. 3. Prepare an unadjusted trial balance. 4. At the end of February, the following adjustment data were assembled. Use this data to complete instructions ( 5 ) and (6 ): a. Supplies on hand were 15 600. b. Rent expired during the month was $ 1,600. c. Unearned fees at the end of the month were $ 3,500. d. Insurance expired during the month was $ 300. e. Accrued salaries payable were $ 240. f. Depreciation on equipment during the month was $ 330. 5. Optional: Enter the unadjusted trial balance on an end-ofperiod spreadsheet/worksheet and complete the worksheet. 6. Journalize and post the adjusting entries. 7. Prepare an adiusted trial balance