EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 4, Problem 1E
To determine
Introduction: A worksheet is a multiple-column form that is prepared by the companies at the end of an accounting year to use as a device in preparing the
To prepare: The complete worksheet.
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Comprehensive On November 30, 2019. Davis Company had the following account balance.
During the month of December, Davis entered into the following transactions:
Required:
a.Prepare generaljournal entries to record the preceding transactions.
b.Post to general ledger T accoun
c.Prepare a year-end trial balance on a worksheet and complete theworksheet using the following information: (a) accrued salaries at year-end total s1,200; (b) for simplicity, the building and equipment are being depreciated using the straight-line method over an estimated life of 20 yean with no residual value;(c) supplies on hand at the end of the year total $630; (d) bad debts expense for the year totals $830; and (e)the income tax rate is 30%; income taxes are payable in the first quarter of
d.Prepare the companis financial statements for 2019.
e.Prepare the 2019 (a) adjusting and (b) closing entries in the general journal.
Suppose a customer rents a vehicle for three months from Commodores Rental on November 1, paying $5,250 ($1,750/month).
1.&2. Record the necessary entries in the Journal Entry Worksheet below.
3. Calculate the year-end adjusted balances of the Deferred Revenue and Service Revenue accounts (assuming the balance of Deferred Revenue at the beginning of the year is $0).
Deferred revenue ending balance:____________
Service revenue ending balance: _____________
It journals the transactions for the month of January in the general journal.
Makes (post) the entries in the ledger.
Prepares the trial balance without adjustments as of January 31, 2020.
Make the following adjustments:
The depreciation of the equipment for one month is $205.
One month of prepaid insurance expired.
The inventory balance of cleaning supplies at the end of the month is $200.
Accrued, but unpaid employee salary, is $600.
Prepare the following reports in their corresponding spreadsheet:
Income statement
Statement of owner equity
Balance sheet
Chapter 4 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 4 - Prob. 1QCh. 4 - 2. Explain the purpose of the worksheet.
Ch. 4 - 3. What is the relationship, if any, between the...Ch. 4 - Prob. 4QCh. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - 9. Which of the following accounts would not...Ch. 4 - 10. Distinguish between a reversing entry and an...
Ch. 4 - Prob. 11QCh. 4 - Prob. 12QCh. 4 - Prob. 13QCh. 4 - Prob. 14QCh. 4 - Prob. 15QCh. 4 - Prob. 16QCh. 4 - Prob. 17QCh. 4 - Prob. 18QCh. 4 - Prob. 20QCh. 4 - Prob. 21QCh. 4 - BE4-1 The steps in using a worksheet are presented...Ch. 4 - Prob. 2BECh. 4 - Prob. 3BECh. 4 - Prob. 4BECh. 4 - Prob. 5BECh. 4 - Prob. 6BECh. 4 - Prob. 7BECh. 4 - BE4-8 The steps in the accounting cycle are listed...Ch. 4 - Prob. 9BECh. 4 - Prob. 10BECh. 4 - Prob. 11BECh. 4 - Prob. 12BECh. 4 - Prob. 1DIECh. 4 - Prob. 2DIECh. 4 - DO IT! 4-3 Hanson Company has an inexperienced...Ch. 4 - Prob. 4DIECh. 4 - Prob. 1ECh. 4 - E4-2 The adjusted trial balance columns of the...Ch. 4 - E4-3 Worksheet data for Savaglia Company are...Ch. 4 - E4-4 Worksheet data for Savaglia Company are...Ch. 4 - Prob. 5ECh. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - E4-10 Renee Davis has prepared the following list...Ch. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13ECh. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Prob. 17ECh. 4 - Prob. 18ECh. 4 - Prob. 19ECh. 4 - P4-1A The trial balance columns of the worksheet...Ch. 4 - P4-3A The completed financial statement columns of...Ch. 4 - P4-5A Anya Clark opened Anya’s Cleaning Service on...Ch. 4 - Prob. 7EYCTCh. 4 - Prob. 1ISTQCh. 4 - Prob. 2ISTQCh. 4 - Prob. 3ISTQCh. 4 - Prob. 4ISTQCh. 4 - Prob. 1IFRECh. 4 - Prob. 2IFRECh. 4 - Prob. 3IFRECh. 4 - Prob. 4IFRE
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