Question: Problem 4-3A The completed financial statement columns of the worksheet for Concord Company are as follows. Concord Company Worksheet For the Year Ended December 31,

Problem 4-3A

The completed financial statement columns of the worksheet for Concord Company are as follows.

Concord Company Worksheet For the Year Ended December 31, 2019

Income Statement

Balance Sheet

Account No.

Account Titles

Dr.

Cr.

Dr.

Cr.
101 Cash 9,000
112 Accounts Receivable 10,800
130 Prepaid Insurance 2,700
157 Equipment 23,600
158 Accumulated DepreciationEquip. 4,300
201 Accounts Payable 9,100
212 Salaries and Wages Payable 2,300
311 Common Stock 19,400
320 Retained Earnings 8,100
332 Dividends 19,000
400 Service Revenue 59,800
622 Maintenance and Repairs Expense 1,600
711 Depreciation Expense 2,900
722 Insurance Expense 1,900
726 Salaries and Wages Expense 30,100
732 Utilities Expense

1,400

Totals

 37,900 59,800 65,100 43,200
Net Income

21,900

21,900

59,800

59,800

65,100

65,100
Post the closing entries and balance the accounts. (Post entries in the order of journal entries presented in the previous part.)

Retained Earnings

No. 320

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Dividends

No. 332

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Income Summary

No. 350

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Service Revenue

No. 400

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Maintenance and Repairs Expense

No. 622

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Depreciation Expense

No. 711

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Insurance Expense

No. 722

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Salaries and Wages Expense

No. 726

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

Utilities Expense

No. 732

12/31 Bal.12/311/1 Bal.

12/31 Bal.12/311/1 Bal.

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