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Chapter 4 EXE Excel 1

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Chapter 4 EXE Excel 1
Chapter 4

Completing the Accounting Cycle

Exercises

(20-30 min.) E 4-13
Req. 1

Telegraphic Link
Worksheet
Month Ended November 30, 2012
ACCOUNT TITLE
TRIAL BALANCE
ADJUSTMENTS
ADJUSTED TRIAL BALANCE
INCOME STATEMENT
BALANCE SHEET

DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
Cash
$4,000

$4,000

$4,000

Accounts receivable
3,200

(a) $600

3,800

3,800

Prepaid rent
1,900

(d) $500
1,400

1,400

Supplies
3,000

(e) 100
2,900

2,900

Equipment
34,800

34,800

34,800

Accumulated depreciation

$1,600

(b) 300

$1,900

$1,900
Accounts payable

5,400

5,400

5,400
Salary payable

(c) 800

800

800
Thomas, capital

35,700

35,700

35,700
Thomas, drawing
2,100

2,100

2,100

Service revenue

8,600

(a) 600

9,200

$9,200

Depreciation expense

(b) 300

300

$300

Salary expense
1,700

(c) 800

2,500

2,500

Rent expense

(d) 500

500

500

Utilities expense
600

600

600

Supplies expense

(e) 100 100 100

$51,300 $51,300 $2,300
$ 2,300 $53,000 $53,000
$4,000
$9,200
$49,000
$43,800
Net income

$5,200

$ 5,200

$9,200 $9,200
$49,000
$49,000

Req. 2 The net income for November was $5,200. (20-30 min.) E 4-16

Reqs. 1 and 2

Accounts receivable

Prepaid rent
Bal
3,200

Bal
1,900
(d)
500
(a)
600

Bal
1,400

Bal
3,800

Supplies

Accumulated depreciation
Bal
3,000
(e)
100

Bal
1,600
Bal

2,900

(b)
300

Bal
1,900

Salary payable

Thomas, capital

Bal
0

Clo
2,100
Bal
20,000

(c)
800

Clo
5,200

Bal
800

Bal
23,100

Thomas, drawing

Income summary
Bal
2,100
Clo
2,100

Clo
4,000
Clo
9,200
Bal
0

Clo
5,200
Bal
5,200

Bal
0

(continued) E 4-16
Reqs. 1 and 2

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