PR 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the Obj. 2, 3 year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Account No. Debit Balances Credit Balances Cash..... 11 12,000 30,000 Supplies Prepaid Insurance. Equipment.. Accumulated Depreciation-Equipment.. 13 ..... 14 3,600 16 ...... 110,000 17 25,000 Trucks
PR 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the Obj. 2, 3 year, follows: Lakota Freight Co. Unadjusted Trial Balance March 31, 20Y4 Account No. Debit Balances Credit Balances Cash..... 11 12,000 30,000 Supplies Prepaid Insurance. Equipment.. Accumulated Depreciation-Equipment.. 13 ..... 14 3,600 16 ...... 110,000 17 25,000 Trucks
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Only questions 3,4,5 and can you please make the tables able to be copy and pasted into word for editing

Transcribed Image Text:PR 4-4A Ledger accounts, adjusting entries, financial statements,
and closing entries; optional spreadsheet
The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows:
Obj. 2, 3
Lakota Freight Co.
Unadjusted Trial Balance
March 31, 20Y4
Account
Debit
Balances
Credit
Balances
No.
Cash.
11
12,000
Supplies
13
30,000
Prepaid Insurance..
Equipment..
Accumulated Depreciation-Equipment. .
Trucks.....
14
3,600
110,000
16
17
25,000
18
60,000
Accumulated Depreciation-Trucks
Accounts Payable..
Common Stock..
Retained Earnings
Dividends.
19
15,000
21
4,000
31
26,000
70,000
32
33
15,000
Service Revenue
41
160,000
Wages Expense..
Rent Expense.
Truck Expense
Miscellaneous Expense..
51
45,000
53
10,600
54
9,000
59
4,800
300,000
300,000
The data needed to determine year-end adjustments are as follows:
(a) Supplies on hand at March 31 are $7,500.
(b) Insurance premiums expired during year are $1,800.
(c) Depreciation of equipment during year is $8,350.
(d) Depreciation of trucks during year is $6,200.
(e) Wages accrued but not paid at March 31 are $600.
Instructions
1. For each account listed in the trial balance, enter the balance in the appropriate Balance col-
umn of a four-column account and place a check mark () in the Posting Reference column.
2. (Optional) Enter
and complete the spreadsheet. Add the accounts listed in part (3) as needed,
3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the
adjusting entries on Page 26 of the journal. The following additional accounts from Lakota Freight
Co's chart of accounts should be used: Wages Payable, 22; Supplies Expense, 52; Depreciation
Expense-Equipment, 55; Depreciation Expense–Trucks, 56; Insurance Expense, 57.
4. Prepare an adjusted trial balance.
5. Prepare an income statement, a statement of stockholders' equity, and a balance sheet. During
the year ended March 31, 20Y4, additional common stock of $6,000 was issued
6. Journalize and post the closing entries. Record the closing entries on Page 27 of the journal
Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry
the unadjusted trial balance
end-of-period spreadsheet
on
an
7. Prepare a post-closing trial balance.
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