1 e Analyzing transactions and events.

2 d Journalizing transactions and events.

3 a Posting the journal entries.
4 g Preparing the unadjusted trial balance.
5 d Journalizing and posting adjusting entries.
6 c Preparing the adjusted trial balance.
7 f Preparing the financial statements.
8 h Journalizing and posting closing entries.
9 b Preparing the post-closing trial balance.
Part 1
December 31, 2015

Unadjusted Trial Balance

No Account Title Debit Credit

Cash 16,000
Account Receivable 34,000
Office supplies 5,000
Trucks 350,000
Acc. Depreciation-Trucks 80,000
Land 160,000
Account Payable 24,000
Interest Payable 5,000
Long-term notes payable 100,000
S. Dylan, Capital 307,000
S. Dylan, Withdrawals 34,000
Delivery fees earned 263,000
Depreciation expense-Truc 40,000
Salaries expense 110,000
Office supplies expense 15,000
Interest expense 5,000
Repair expense-Trucks 10,000
Total 779,000 779,000
Net income -

Part 2 Closing entries Account Title

(1) Services Revenue

To close the revenue account.

(2) Income Summary

To close the expense accounts.

(3) Income Summary

To close Income Summary account.

(4) R. Cruz, Capital

To close the withdrawals account.

 Dylan Delivery Company
Worksheet
For Month Ended Dec 31,2015

Adjustments Adjusted Trial Balance Income Statement Balance Sheet & SOE

Debit Credit Debit Credit Debit Credit Debit Credit

- - - - - - - -
- - - -
- - - -
- -
PR Db Cr
401 -
Income Summary 901 -

901 -
Depreciation expens 611 -
Salaries expense 601 -
Office supplies expe 652 -
Interest expense 633 -
Repair expense-Truc 684 -

901 -
R. Cruz, Capital 301 -

301 -
R. Cruz, Withdrawals 302 -
Part 1
December 31, 2015
Santara Marketing Company
Worksheet
For Month Ended Dec 31,2015
Adjusted Trial Balance Closing Entry Information
No Account Title Debit Credit Debit Credit
101 Cash 9,200
106 Accounts receivable 25,000
153 Equipment 42,000
154 Accumulated depreciation— 17,500
Equipment
183 Land 31,000
201 Accounts payable 15,000
209 Salaries payable 4,200
233 Unearned fees 3,600
301 T. Santara, Capital 68,500
302 T. Santara, Withdrawals 15,400
401 Marketing fees earned 80,000 (1) 80,000
611 Depreciation expense— 12,000 (2) 12,000
Equipment.
622 Salaries expense 32,500 32,500
640 Rent expense 13,000 13,000
677 Miscellaneous expense 8,700 8,700
901 Income summary (1) 80,000 (2) 66,200

Total 188,800 188,800 146,200 146,200

- -

Part 2 Closing entries Account Title PR

(1) Marketing fees earned 401
Income Summary 901
To close the revenue account.
(2) Income Summary 901
Depreciation expen 611
Salaries expense 622
Rent expense 640
Miscellaneous expe 677
To close the expense accounts.
(3) Income Summary 901
T. Santara, Capital 301
To close Income Summary account.
(4) R. Cruz, Capital 301
T. Santara, Withdraw 302
To close the withdrawals account.
Post-Closing Trial Balance
Debit Credit
9,200
25,000
42,000
17,500
31,000
15,000
4,200
3,600
68,500
15,400
160,000
24,000
65,000
26,000
17,400
13,800

268,800 268,800
-

Db Cr
80,000
80,000

66,200
12,000
32,500
13,000
8,700

80,000 66,200
13,800
tên cty Wilson Trucking Company
tên báo cáo Income Statement
tgian làm báo cáo For Year Ended December 31, 2015
Dr. Cr.
Trucking fees earned 130000
Depreciation expense—Truc 23500
Salaries expense 61000
Office supplies expense 8000
Repairs expense—Trucks 12000
TOTAL EXPENSE 104500

NET INCOME 25,500

Wilson Trucking Company

Statement of Owner’s Equity
For Year Ended December 31, 2015
Capital opening 175,000
Investment
Net Income 25,500
Withdrawals ($20,000)
Capital ending 180,500

Wilson Trucking Company

Balance Sheet
31-Dec-15
Asset 249,500
Current assets 28,500
Cash 8000
Accounts receivable 17500
Office supplies 3000
Noncurrent assests 221,000
Trucks 172000
Accumulated depreciation— (36,000)
Land 85000

Liability
Current Liability 16,000
Accounts payable 12,000
Interest payable 4,000
Noncurrent Liability 53,000
Long-term notes payable 53,000
180,500
Equity 180,500
Liability & Equity 249,500
Cash
Accounts receivable
Office supplies

Trucks
Accumulated depreciation—
Land
Accounts payable
Interest payable
Long-term notes payable
K Wilson, Capital
K Wilson, Withdrawals
Trucking fees earned
Depreciation expense—Truc
Salaries expense
Office supplies expense
Repairs expense—Trucks

Totals

debt ratio
(12,000)
 Current Current Current
Assets Liabilities Ratio
Case 1 $79,040 $32,000 2.47
Case 2 140,880 76,000 1.853684
Case 3 45,080 49,000 0.92
Case 4 85,680 81,600 1.05
Case 5 61,000 100,000 0.61

Analysis: Company 1 is in the strongest liquidity position. It has about $2.47 of current assets for each $1 of c
The only potential concern is that Company 1 may be carrying too much in current assets that could be better
(note that its remaining competitors’ current ratios range from 1.38 to 0.61).
$2.47 of current assets for each $1 of current liabilities.
in current assets that could be better spent on more productive assets
Account No. Account Name Account No. Account Name
101 Cash 101 Cash
106 Accounts Receivable 106 Accounts Receivable
126 Supplies 126 Supplies
128 Prepaid Insurance 108 Prepaid Insurance
167 Equipment 163 Office Equipment
173 Building 164 Drafting Equipment
183 Land 170 Building
201 Account Payable 172 Land
208 Rent payable 201 Account Payable
236 Unearned Revenue 250 Notes payable
245 Note payble 301 Capital
301 Capital 302 Withdrawals
302 Withdrawals 402 Engineering Fees Earned
403 Main revenue 601 Wages expenses
406 Other revenues 602 Equipment Rental Expense
622 Salaries expenses 603 Advertising expenses
637 Insurance expenses 604 Reparing expenses
640 Rent expense
652 Supplies expense 652 Supplies expense
655 Advertising expenses 655 Advertising expenses
679 Operating expenses 679 Operating expenses
690 Utilities expense 690 Utilities expense
ts Receivable

g Equipment

ering Fees Earned

ent Rental Expense

sing expenses

sing expenses
ng expenses

https://kidsinprisonprogram.files.wordpress.com
kidsinprisonprogram.files.wordpress.com/2015/12/mgmt-026-chapter-04-hw-part-1.pdf
Unadjusted Entries
April 30, 2015
Date Account Title PR Db Cr
1-Apr Cash 101 30,000
Computer Equipment 167 20,000
J. Nozomi, Capital 301 50,000
Owner invested in the business.
2 Rent Expense 640 1,800
Cash 101 1,800
Paid one month’s rent.
3 Office Supplies 124 1,000
Cash 101 1,000
Acquired office supplies.
10 Prepaid Insurance 128 2,400
Cash 101 2,400
Paid 12 months’ premium in advance.
14 Salaries Expense 622 1,600
Cash 101 1,600
Paid two weeks’ salaries.
24 Cash 101 8,000
Commissions Earned 405 8,000
Collected commissions from airlines.
28 Salaries Expense 622 1,600
Cash 101 1,600
Paid two weeks’ salaries.
29 Repairs Expense 684 350
Cash 101 350
Repaired the computer.
30 Telephone Expense 688 750
Cash 101 750
Paid the telephone bill.
30 J. Nozomi, Withdrawals 302 1,500
Cash 101 1,500
Owner withdrew cash.

Dylan Delivery Company

Worksheet
For Month Ended Jan 00,19Apr 30,2015
Unadjusted Trial Balance Adjustments
No Account Title Debit Credit Debit
101 Cash 27,000
106 Accounts receivable - - 1,750
124 Office supplies 1,000 -
128 Prepaid insurance 2,400 -
167 Computer equipment 20,000 -
168 Accumulated depreciation— - -
209 Salaries payable - -
301 J. Nozomi, Capital - 50,000
302 J. Nozomi, Withdrawals 1,500 -
 405 Commissions earned - 8,000
612 Depreciation expense— Com - - 500
622 Salaries expense 3,200 - 420
637 Insurance expense - - 133
640 Rent expense 1,800 -
650 Office supplies expense - - 400
684 Repairs expense 350 -
688 Telephone expense 750 -
901 Income Summary - -

Total 58,000 58,000 3,203

Date Account Title PR Db Cr

(a) Apr 30 Insurance Expense 637 133
Prepaid Insurance 128 133
To record expired insurance
(b) 30 Office Supplies Expense 650 400
Office Supplies 124 400
To record cost of supplies used
(c) 30 Depreciation Exp—Computer Equipment 612 500
Accumulated Depreciation—
Computer Equipment 168 500
To record depreciation.
(d) 30 Salaries Expense 622 420
Salaries Payable 209 420
To record accrued salaries.
(e) 30 Accounts Receivable 106 1,750
Commissions Earned 405 1,750
To record accrued commissions.

Date Account Title PR Db Cr

(1) Commissions earned 405 9,750
Income Summary 901 9,750
To close the revenue account.
(2) Income Summary 901 7,553
Depreciation expense— Com 612 500
Salaries expense 622 3,620
Insurance expense 637 133
Rent expense 640 1,800
Office supplies expense 650 400
Repairs expense 684 350
Telephone expense 688 750
To close the expense accounts.
(3) Income Summary 901 2,197
R. Cruz, Capital 301 2,197
To close Income Summary account.
(4) R. Cruz, Capital 301 1,500
R. Cruz, Withdrawals 302 1,500
To close the withdrawals account.
 April
1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company.
2 The company rented furnished office space by paying $1,800 cash for the first month's (April) re
3 The company purchased $1,000 of office supplies for cash.
10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage be
14 The company paid $1,600 cash for two weeks' salaries earned by employees.
24 The company collected $8,000 cash on commissions from airlines on tickets obtained for custo
28 The company paid $1,600 cash for two weeks' salaries earned by employees.
29 The company paid $350 cash for minor repairs to the company's computer.
30 The company paid $750 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash

Adjustments Adjusted Trial Balance Closing Entries

Credit Debit Credit Debit Credit
27,000
1,750
400 600
133 2,267
20,000
500 500
420 420
50,000 1,500 2,197
1,500 1,500
1,750 9,750 9,750
500 500
3,620 3,620
133 133
1,800 1,800
400 400
350 350
750 750
7,553 9,750
- 2,197
3,203 60,670 60,670 21,000 21,000
the company.
first month's (April) rent.

e policy. Coverage begins on April 11.

ets obtained for customers.

withdrew $1,500 cash from the company for personal use.

Post-closing TB
Debit Credit
27,000
1,750
600
2,267
20,000
500
420
50,697
-
 -

51,617 51,617 -