221 4-4B 290 (30) ger accounts isting entries, financial ements, and closing ies optional end-of- od spreadsheet (work et) .2,3 1.Net income 3,818,000 Chapter 4 Completing the Accounting Cycle The data needed to determine year-end adjustments are as follows: a. Laundry supplies on hand at March 31 are Rp950,000. b. Insurance premiums expired during the year are Rp2,000,000. c. Depreciation of equipment during the year is Rp2,900,000. d. Wages accrued but not paid at March 31 are Rp600,000. Instructions 1. For each account listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance as "Mar. 31 Bal." In addition, add T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, Insurance Expense, and Income Summary. 2. Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. Add the accounts listed in Part (1) as needed. 3. Journalize and post the adjusting entries. Identify the adjustments by "Adj." and the new balances as "Adj. Bal." 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of changes in equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the closing entries. Identify the closing entries by "Clos." 7. Prepare a post-closing trial balance. If the w. "king papers correlating with this textbook are not used, omit Problem 4-4B. The ledger and trial balance of Jasa Warta as of March 31, 2011, the end of the first month of its current fiscal year, are presented in the working papers. Data needed to determine the necessary adjusting entries are as follov :: a. Service revenue accrued at March 31 is Rp2,000,000. b. Supplies on hand at March 31 are Rp400,000. c. Insurance premiums expired during March are Rp150,000 d. Depreciation of the building during March is Rp625,000. e. Depreciation of equipment during March is Rp200,000. f. Unearned rent at March 31 is Rp1,800,000. g. Wages accrued but not paid at March 31 are Rp600,000. Instructions 1. Optional: Complete the end-of-period spreadsheet (work sheet) using the adjustment data shown above. 2. Journalize and post the adjusting entries, inserting balances in the accounts affected. 3. Prepare an adjusted trial balance. 4. Prepare an income statement, a statement of changes in equity, and a balance sheet. 5. Journalize and post the closing entries. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. Insert the new balance of the capital account. 6. Prepare a post-closing trial balance.

221 4-4B 290 (30) ger accounts isting entries, financial ements, and closing ies optional end-of- od spreadsheet (work et) .2,3 1.Net income 3,818,000 Chapter 4 Completing the Accounting Cycle The data needed to determine year-end adjustments are as follows: a. Laundry supplies on hand at March 31 are Rp950,000. b. Insurance premiums expired during the year are Rp2,000,000. c. Depreciation of equipment during the year is Rp2,900,000. d. Wages accrued but not paid at March 31 are Rp600,000. Instructions 1. For each account listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance as "Mar. 31 Bal." In addition, add T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, Insurance Expense, and Income Summary. 2. Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. Add the accounts listed in Part (1) as needed. 3. Journalize and post the adjusting entries. Identify the adjustments by "Adj." and the new balances as "Adj. Bal." 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of changes in equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the closing entries. Identify the closing entries by "Clos." 7. Prepare a post-closing trial balance. If the w. "king papers correlating with this textbook are not used, omit Problem 4-4B. The ledger and trial balance of Jasa Warta as of March 31, 2011, the end of the first month of its current fiscal year, are presented in the working papers. Data needed to determine the necessary adjusting entries are as follov :: a. Service revenue accrued at March 31 is Rp2,000,000. b. Supplies on hand at March 31 are Rp400,000. c. Insurance premiums expired during March are Rp150,000 d. Depreciation of the building during March is Rp625,000. e. Depreciation of equipment during March is Rp200,000. f. Unearned rent at March 31 is Rp1,800,000. g. Wages accrued but not paid at March 31 are Rp600,000. Instructions 1. Optional: Complete the end-of-period spreadsheet (work sheet) using the adjustment data shown above. 2. Journalize and post the adjusting entries, inserting balances in the accounts affected. 3. Prepare an adjusted trial balance. 4. Prepare an income statement, a statement of changes in equity, and a balance sheet. 5. Journalize and post the closing entries. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. Insert the new balance of the capital account. 6. Prepare a post-closing trial balance.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 8SPB: UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Lewis Warehouse used the allowance method to record the...

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