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strayer acc100 week 2 chapter 4 homework

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Question;Brief;Exercise 4-5;The;ledger of Rios Company contains the following balances: Owner?s Capital;$30,000, Owner?s Drawings $2,000, Service Revenue $50,000, Salaries and Wages;Expense$27,000, and Supplies Expense $7,000.;The;closing entries are as follows;(1) Close;revenue accounts.;(2) Close;expense accounts.;(3) Close;net income/(loss);(4) Close;drawings.;Post the;closing entries in the order presented in the problem and use the numbers as a;reference.;Salaries;and WagesExpense;Supplies Expense;Service Revenue;Owner?s Drawings;Income Summary;Owner?s Capital;Brief Exercise 4-7;The following selected accounts appear in the adjusted trial balance;columns of the worksheet for Goulet Company.Identify the accounts that would be;included in a post-closing trial balance.;Accumulated Depreciation;Depreciation Expense;Owner?s Capital;Owner?s Drawings;Service Revenue;Supplies;Accounts Payable;Brief Exercise 4-8;The steps in the accounting cycle are listed in random order below.List;the steps in proper sequence, assuming no worksheet is prepared, by placing;numbers 1?9.;(a) Prepare a trial balance.;(b) Journalize the transactions.;(c) Journalize and post closing entries.;(d) Prepare financial statements.;(e) Journalize and post adjusting entries.;(f) Post to ledger accounts.;(g) Prepare a post-closing trial balance.;(h) Prepare an adjusted trial balance.;(i) Analyze business transactions.;Brief;Exercise 4-10;The;balance sheet debit column of the worksheet for Hamidi Company includes the;following accounts: Accounts Receivable $12,500, Prepaid Insurance $3,600;Cash$4,100, Supplies $5,200, and Debt Investments (short-term) $6,700.;Prepare;the current assets section of the balance sheet, listing the accounts in proper;sequence. (List current assets in order of liquidity.);Exercise;4-1;The trial;balance columns of the worksheet for Nanduri Company at June 30, 2014, are as;follows.NANDURI COMPANYWorksheetFor the Month Ended June 30, 2014Trial;BalanceAccount Titles Dr. Cr.Cash 2,320Accounts Receivable 2,440Supplies;1,880Accounts Payable 1,120Unearned Service Revenue 240Owner?s Capital;3,600Service Revenue 2,400Salaries and Wages Expense 560Miscellaneous Expense 160;Total 7,360 7,360Other data:1. A physical count reveals $500 of supplies on;hand.2. $100 of the unearned revenue is still unearned at month-end.3. Accrued;salaries are $210.Complete the worksheet.NANDURI COMPANYWorksheetFor the Month;Ended June 30, 2014TrialBalance Adjustments Adj. Trial Balance Income;StatementAccountTitles Dr Cr. Dr Cr. Dr Cr. Dr Cr. DrCash;2,320AccountsReceivable 2,440Supplies 1,880AccountsPayable;1,120UnearnedServiceRevenue240Owner'sCapital 3,600ServiceRevenue 2,400Salaries;andWagesExpense560MiscellaneousExpense 160Totals;7,3607,360SuppliesExpenseSalaries andWagesPayableTotalsNet IncomeTotals;Exercise;4-9 (Part level Submission);The;adjusted trial balance for Plevin Company.PLEVIN COMPANY Adjusted Trial;BalanceJuly 31, 2014No. Account Titles Debit Credit 101 Cash $9,840112 Accounts;Receivable 8,780157 Equipment 15,900158 Accumulated Depreciation-Equip.;$7,400201 Accounts Payable 4,220208 Unearned Rent Revenue 1,800301 Owner?s;Capital 45,200306 Owner?s Drawings 16,000400 Service Revenue 64,000429 Rent;Revenue 6,500711 Depreciation Expense 8,000726 Salaries and Wages Expense;55,700732 Utilities Expense 14,900$129,120 $129,120(a1)Prepare an income;statement for the year.PLEVIN COMPANY Income Statement For the Year Ended July;31, 2014$$$$(a2)Prepare an owner?s equity statement for the year. Plevin did;not make any capital investments during the year. (List items that increase;owner's equity first.)PLEVIN COMPANY Owner?s Equity StatementFor the Year Ended;July 31, 2014$:$(b)Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.)PLEVIN COMPANYBalance SheetJuly 31, 2014Assets$$;Liabilities;and Owner's Equity;Exercise;4-11 (Part level Submission);Selected;accounts for Heather?s Salon are presented below. All June 30 postings are from;closing entries.Salaries and Wages Expense6/10 3,200 6/30 8,8006/28;5,600Supplies Expense6/12 600 6/30 1,3006/24 700Service Revenue6/30 18,100 6/15;9,7006/24 8,400Rent Expense6/1 3,000 6/30 3,000Owner?s Capital6/30 2,500 6/1;12,0006/30 5,000Bal. 14,500Owner?s Drawings6/13 1,000 6/30 2,5006/25;1,500(a)Prepare the closing entries that were made. (Credit account titles are;automatically indented when amount is entered. Do not indent manually.)(b)Post;the closing entries to Income Summary. (Post entries in the order of journal;entries posted in the previous part of the question.);Income;Summary;June 30;June 30;June 30 June 30

 

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