FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Comprehensive Problem 1
Part 5: Work Sheet

The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4 before completing part 5.

Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.

  1. Insurance expired during May is $275.
  2. Supplies on hand on May 31 are $715.
  3. Depreciation of office equipment for May is $330.
  4. Accrued receptionist salary on May 31 is $325.
  5. Rent expired during May is $1,600.
  6. Unearned fees on May 31 are $3,210.

If an amount box does not require an entry, leave it blank or enter "0".

 

Kelly Consulting
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended May 31, 20Y8
  Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash                    
Accounts Receivable                    
Supplies                    
Prepaid Rent                    
Prepaid Insurance                    
Office Equipment                    
Accum. Depreciation                    
Accounts Payable                    
Salaries Payable                    
Unearned Fees                    
Common Stock                    
Retained Earnings                    
Dividends                    
Fees Earned                    
Salary Expense                    
Rent Expense                    
Supplies Expense                    
Depreciation Expense                    
Insurance Expense                    
Miscellaneous Expense                    
                     
Net income                    
                     
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