Latihan Soal Chapter 4 Completing the Accounting Cycle On December 31, 2020 the Trial Balance of the worksheet for Al Farisi Ltd. are as follows: Al Farisi Worksheet For the Year Ended December 31, 2020 Trial Balance Account Titles Dr. 6,500 Cr. Cash Accounts Receivable 5,200 2,000 11,000 Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable 1,250 2,500 Unearned Service Revenue 550 Owner's Capital Owner's Drawings 12,900 1,100 Service Revenue 10,300 Salaries and Wages Expense Miscellaneous Expense 1,300 400 27,500 27,500 Other data: 1. A physical count reveals only $680 of roofing supplies on hand. 2. Depreciation for December is $450. 3. Unearned revenue amounted to $460 at December 31. 4. Accrued salaries are $900. Instructions: a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and owner's equity statement for the month of December and classified balance sheet at December 31. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet. e. Prepare a post-closing trial balance.

Latihan Soal Chapter 4 Completing the Accounting Cycle On December 31, 2020 the Trial Balance of the worksheet for Al Farisi Ltd. are as follows: Al Farisi Worksheet For the Year Ended December 31, 2020 Trial Balance Account Titles Dr. 6,500 Cr. Cash Accounts Receivable 5,200 2,000 11,000 Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable 1,250 2,500 Unearned Service Revenue 550 Owner's Capital Owner's Drawings 12,900 1,100 Service Revenue 10,300 Salaries and Wages Expense Miscellaneous Expense 1,300 400 27,500 27,500 Other data: 1. A physical count reveals only $680 of roofing supplies on hand. 2. Depreciation for December is $450. 3. Unearned revenue amounted to $460 at December 31. 4. Accrued salaries are $900. Instructions: a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and owner's equity statement for the month of December and classified balance sheet at December 31. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet. e. Prepare a post-closing trial balance.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

C. D. E.

Latihan Soal
Chapter 4 Completing the Accounting Cycle
On December 31, 2020 the Trial Balance of the worksheet for Al Farisi Ltd. are as follows:
Al Farisi
Worksheet
For the Year Ended December 31, 2020
Trial Balance
Account Titles
Cr.
Dr.
6,500
5,200
Cash
Accounts Receivable
2,000
11,000
Supplies
Equipment
Accumulated Depreciation – Equipment
Accounts Payable
1,250
2,500
Unearned Service Revenue
550
Owner's Capital
Owner's Drawings
12,900
1,100
Service Revenue
10,300
Salaries and Wages Expense
1,300
Miscellaneous Expense
400
27,500
27,500
Other data:
1. A physical count reveals only $680 of roofing supplies on hand.
2. Depreciation for December is $450.
3. Unearned revenue amounted to $460 at December 31.
4. Accrued salaries are $900.
Instructions:
a. Enter the trial balance on a worksheet and complete the worksheet.
b. Prepare an income statement and owner's equity statement for the month of December and
classified balance sheet at December 31.
c. Journalize the adjusting entries from the adjustments columns of the worksheet.
d. Journalize the closing entries from the financial statement columns of the worksheet.
e. Prepare a post-closing trial balance.

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