2 Wiap lext General Percent 3 Normal BIU AA Bad winter Merge Center - S - % 9 828 1 Percent 2 Conditional Format Good Formatting Table Calculation Check Cell for Alignment Number Styles B G N Parrots Campgrounds Polly Parrot opened Parrots Campgrounds. The camp is open from April through October. Campers typically register for one week, arriving on Sunday afternoon and packing up the following Saturday afternoon. The registration fee includes space and meals, the use of fishing boats, and other activities around the campgrounds. The chart of accounts for the camping operations is provided below. Parrots Campgrounds 15 16 17 Assets 101 Cash 120 Accounts Receivable 18 19 20 21 130 Office Supplies 150 Food Supplies 160 Prepaid Insurance 180 Equipment 181 Accum. Depr.-Equipment 22 23 24 25 Liabilities 26 200 Accounts Payable 210 Wages Payable 27 28 29 Owner's Equity 30 31 32 33 300 Polly Parrot Capital 310 Polly Parrot Drawing 390 Income Summary Revenues 35 400 Registration Fees 36 37 Expenses 38 39 40 41 42 501 Wages Expense 520 Rent Expense 521 Office Supplies Expense 522 Food Supplies Expense 523 Phone Expense 531 Utilities Expense 532 Insurance Expense 540 Postage Expense 550 Depr. Exp. ---Fishing Boats 43 45 46 47 required Tab 1 Journal Entries Tab 2 Ledger Tab 3 Worksheet Tab 4 Adjust ACIO7 Unk7 Final Pa.. Unit 7 Assignment- chrome General Percent 2 Q Percent 3 Normal $ -% -99 Conditional Formats Good Formatting Table Autosum- Neutral Calculation Bad Check Cell 29 O F Number Insert Delete Format Styles Clear Sort & Find & Filter -Select- Celes Editing G N 9 T U REQUIRED: 1. Enter the April transactions in a general journal. Enter transactions on Tab 1 - Journal Entries 2. Post the entries to the general ledger in Tab 2. 3. Prepare a trial balance on a work sheet in Tab 3. 4. Complete the work sheet - Tab 3. 5. Journalize the adjusting entries in Tab 4 6. Post the adjusting entries to the general ledger in Tab 2 and in the Worksheet in Tab 3. 7. Prepare the income statement in Tab 5. 8. Prepare the statement of owner's equity in Tab 5. 9. Prepare the balance sheet in Tab S. 10. Journalize the closing entries in tab 6 11. Post the closing entries to the general ledger in Tab 3 using the green highlighted lines, 12. Prepare a post-closing trial balance in Tab 3 use the orange lines for the adjusting transactions Format Painter Merge & Center $ % 9 Conditional for Clipboard Formatting to Font Alignment Number Purchased food supplies from Wendy's Super Market on account, $,9000. B D E F G H I journal Entries General Journal understanding of the entire accounting process. As such, students should plan on about three to sl hours to complete this problem. Always list the Debit item first. Date Accounts Debit The following transactions took place during April April 1 Parrot invested cash in business, $100,000 M 1 Paid Insurance premium for seven-month camping season, $14,000. 2 Paid rent for lodge and campgrounds for the month of April, $25,000 2 Deposited registration fees, $32,000. 2 Purchased 10 fishing boats on account for $45,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in August 3 Purchased food supplies from Wendy's Food Market on account, $5,000. 5 Purchased office supplies from Petersons Office Supplies on account, $1250 m a 7 Deposited registration fees, $48,300. 10 Purchased food supplies from Wendy's Market on account. $7,200. 22 10 Paid wages to fishing guides, $9,500. 25 14 Deposited registration fees, $34,500. Page Layout plate.xlsx - Excel Formulas Data Cut Review & Search View Help Calibri Copy Format Painter BIU- - AA = 29 Wrap Text A Merge & Center - General Perce pboard $ - % *88 Font Conditional Format as Good Formatting Table Alignment f Number Purchased food supplies from Wendy's Super Market on account, $.9000. D E F G H 1 J M 16 Purchased fod supplies from Wendy's Super Market on account, $.9000 17 Paid wages to fishing guides, $9,500 18 Paid postage. $275. 21 Deposited registration fees, $35,600 24 Purchased food supplies from Acme Super Market on account, $8,500 24 Paid wages to fishing guides, $9,500 28 Deposited registration fees, $41,000. 29 Paid wages to fishing guides, $9,500 30 Purchased food supplies from Wendy's Super Market on account, $6,300. 30 Paid Wendys Super Market on account, $32,700. 30 Paid utilities bill, $2,750. 30 Paid phone bill, $1,350. 30 Polly Parrot withdrew cash for personal use, $5,500 This is the total of all your entries. Ifit Column Totals does not match the next line you have Check figure 493,225 493,225 journals that are posted incorrectly. Note this check figure is arbitrary and Difference (493,225) (493,225) it will not balance to any other If this total is more than 0, then you numbers in this problem. have transactions that do not balance. Hint: if either of these red numbers can be divided by 9 evenly you probably have a transposition error meaning you entered 18 instead of 81 Tab Tab 5 Fin Statements Tab 6 Closing entries ab 3 Worksheet Tab 4 Adjusting Entries e Microsoft Teams Unit 7 Assignment - F... chrome:/ewtab - G... 158 Alignment Number f B D E F G H 1 Post the transaction from General Journal in Tab 1 in the ledger accounts below. 2 K Go to tab 3 and see if Col band balance. If they do, you have posted everything correctly if they do not balance, you will need to find your 3 2 posting error in the general ledger below. When you balance go to step 3 4 5 3 Go to Tab 4 and Journal the adjusting entries 6 7 4 Come back to Tab 2 and post adjusting entries 8 in the orange rows 9 10 5 Check the Worksheet to make sure you are in balance. 11 6 Prepare and post closing entries 12 Parrots Campground 13 Cash-101 General Ledger 14 Ref Description Debit Credit Balance Office Supplies - 130 15 Beginning Balance Ref Description Debit Credit 16 17 18 19 20 21 22 Equipment - Fishing Boats - 180 23 Ref Description Credit 24 25 26 27 28 29 Accumulated Depreciation 181 30 Ret Description Derbi Balance Balance G 31 required Tab 1 Journal Entries Tab 2 Ledger Tab 3 Worksheet Tab 4 Adjusting Entries Tab 5 Fin Statements AC107 Unit Final P. Unit 7 Assignment-chrome:/ewtab -6.. Alignment Number 158 fx E F G H K A B D 11 6 Prepare and post closing entries 12 Parrots Campground 13 Cash-101 14 Ref Description Debit Credit 15 Beginning Balance 16 17 18 Balance General Ledger Office Supplies - 130 Ref Description Debit Credit Balance 19 20 21 22 23 24 Equipment - Fishing Boats - 180 Ref Description Debit Credit Balance 25 26 27 28 29 30 31 32 33 34 Accumulated Depreciation 181 Ref Description Debit Credit Balance Clipboard Font Alignment Number 158 D E F G H K Credit Balance Food Supplies 150 Ref Description Debit Credit Balance Credit Balance Prepaid Insurance 160 Ref Description Debit Credit Balance Credit Balance A B C 36 Accounts Receivable-120 37 Ref Description Debit 38 39 40 Capital-300 41 Ref Description Debit 42 43 44 45 46 47 48 Draw-310 49 Ref Description Debit 50 51 52 53 54 55 Wage Expense -501 56 Ref Description Debit 57 58 59 60 61 62 63 64 65 66 Food Supply Expense - 524 67 Ref Description Debit 68 69 Credit Balance Prepaid Rent Ref Description Derbi Credit Balance Accounts Payable-200 Rel Description Det Credit Balance Credit Balance Tab 5 Fin State Tab 2 Ledger Tab 1 Journal Entries Tab 3 Worksheet Tab 4 Adjusting Entries required AC107 Unit 7 Final Pa.. Unit 7 Assignment- chrome:/ewtab- - - Merge & Center Clipboard $ - % * 8-9 Font Con Forr Alignment 158 Number X fx C D E F G K A B 73 Insurance Expense 532 74 Ref Description Debit 75 76 77 Credit Balance wages Payable - 210 Ref Description Debit Credit Balance 78 79 80 81 Registration Fees-400 Ref Description Debit Credit Balance Credit Balance 82 83 84 Office Supply Expense 521 85 Ref Description Debit 86 87 88 89 90 91 Number D E F G H K Credit Balance Rent Expense 520 Ref Description Debit beg balance Credit Balance Credit Balance Phone Expense- 523 Ret Description Debit Credit Balance 0 0 0 A B 3 04 95 96 Utilities Expense 533 7 Ref Description Debit 38 39 00 01 102 103 Depreciation Expense - 550 104 Ref Description Debit 105 106 107 108 109 110 111 Income Summary-313 112 Ref Description Debit Fees Income 114f Expenses 115 116 117 118 119 120 121 122 123 124 125 126 Capital-300 Postage Expense 540 Ref Description Debit Credit Balance Credit Balance 113 e Tab 5 Fin Statements 127 Tab 2 Ledger Tab 3 Worksheet Tab 4 Adjusting Entries required Tab 1 Journal Entries AC107 Unit 7 Final Pa... Unit 7 Assignment chrome://stab. Q AutoSave ON 82 AC107 Unit 7 Final Parrots Campground Project Template File Home insert View Help X Cut La Copy Format Painter Page Layout Formulas Data Review Calibri - 26 - AA == BTU 90 -A- 29 Wrap Text Paste Merge Center Clipboard Font Alignment P23 come over only 2. Prepare justing entries in be and the potent in the 4 5 Parrots Adjustments Trial Balance DR 6 CR Ref DR CR a C d Cash-101 Accounts Receivable-120 Office Supplies - 130 Food Supplies 150 Prepaid Insurance 160 Equipment - Fishing Boats - 180 Accumulated Depreciation 181 Accounts Payable-200 wages Payable - 210 Capital-300 # Draw-310 Registration Fees-400 Wage Expense -501 Rent Expense 520 Office Supply Expense 521 Food Supply Expense - 524 Phone Expense-523 Utilities Expense 533 a Insurance Expense 532 2 Postage Expense 540 2 Depreciation Expense - 550 Page 1 b 20 23 32 33 requred Tab 1 Journal Entries Tab 2 Ledger Tab 4 Adjusting Tab 3 Worksheet * AC107 Unit 7 Final Unt 7 Assignment - chrome:// Percent 3 $ %&- Conditional Format as Good Formatting Table Neutral Number Styles G 3. Net the balances trom the trial balance. Income simt accounts will 5. Balances will from from and the adjustments to get usted trial Fewtomatically djusted trial balance balioes debes and credits mustegun check your best the ck figure Check your balance in the Income Statement Adjusted Trial Balance DR CR DR Balance Sheet DR CR CR Rage 2 net income Tabi Adjusting Entries Tab 5 Fin Statements Tab 6 Closing entries Normal Share Bad Com Calculation Check Cell AutoSum Fill Clear 27 04 Insert Delete Format Ideas Sensitivi Sort & Find & Filter Select Editing Cells Ideas Sensitivity U M R 6 Once the closing entries have been posted in b 2 pull the ending balances from all accounts to create ekipost closing trail balance. Check your balance at the chack.us Post Closing Trial Balance DR CR READ THIS This is the accounting worksheet Normally, the accountant completes the columns as a verification in the accounting closing process You do not need to do anything on this worksheet It is provided as a means to check your work. Notice the blue check figures in line 38, If your totals agree with the check figures then you are in balance and can prepare the the financial statements, closing entries and the post closing trial balance. Clipboard Font Alignment Number Straight A... A D G 10 B 3 Post the adjusting entries in Col. D and E 4 Prepared and adjusted trial balance in Tab 3 11 Accounts Debit Credit 12 13 Ref # 14 a 15 16 lb 17 18 C 19 20 d Page 1 21 22 je 23 24 25 26 Column Totals Check figure Difference 27 35,500 35,500 435,500) (25,500) If this total is more than o, dhen your have transactions that do not balance. 28 29 30 31 Hint: if either of these red numbers can be divided by 9 evenly 32 you probably have a transposition error meaning you entered 18 instead of 81 33 34 This is the total of all your entries. If it does not match the next line 35 you have journals that are posted incorrectly. 36 Note this check figure is arbitrary and it will not balance to 37 any other numbers in this problem. 38 39 Tab SF Tab 2 Ledger Tab 1 Journal Entries Tab 3 Worksheet Tab 4 Adjusting Entries required Ready X AC107 Unit 7 Final Pa.. Unit 7 Assignment -F- chrome:/ewtab. 25 Wrap Text LL Copy Paste Format Painter General BIU23 -A- E Merge & Center $ - % Clipboard Font 6 Alignment Number F41 bo B D Financial Statements 1 Complete the Financial Statements in tab 5 2 Then prepare the closing entries in tab 6 Post the closing entries on the green lines the 3 Ledger in Tab 3 Income Statement 30-Apr Parrots Revenue + 5 6 7 8 Total Revenue Expenses 9 10 11 12 13 14 15 16 17 18 Tab 5 Fin St Tab 2 Ledger Tab 3 Worksheet Tab 4 Adjusting Entries required Tab 1 Journal Entries Ready x AC107 Unit 7 Final Pa.. Unit 7 Assignment F.. 9 chrome:/ewtab- E Number F41 A 19 Total Expenses 20 Net Income 21 22 30-Apr Parrots 22 Owner Equity 24 Beginning Equity 25 Net Income 26 Draw 27 Ending Equity Balance 28 Parrots 29 Balance Sheet Assets 30 31 32 Liabilities Accounts Payable- wages Payable - 21 Total Liabilit 33 34 35 36 Equity 37 Tab S Fin Statemes Tab 4 Adjusting Entries Tab 2 Ledger Tab 3 Worksheet Tab 1 Journal Entries required Ready A chrome:/ewtab. AC107 Unit 7 Final P. Unit 7 Assignment G Draw Ending Equity Balance Parrots Balance Sheet Assets 32 Liabilities Accounts Payable-200 wages Payable - 210 Total Liabilities 34 30 Equity 12 Net Equipment Total Assets Total Liabilities and Equity Check figure 234,475 40 43 Tab Tab 6 Closing entries Tab 5 Fin Statements Tab 2 Ledger Tab 4 Adjusting Entries Tab Worksheet Tai Journal Entries red Microsoft Team R drome:/ewtab. Unit 7 Assignment * AC 107 Unit 7 Final C41 Alignment Nunc E F G + B 1 Steps D 2 1 Close Revenue to Income Summary - prepare journal entry 3 4 2 Close All expenses to income Summary - prepare journal entry 5 6 3 Close Net income (Income - expenses) to Capital prepare journal entry 7 8 4 Close Drawing to Capital - prepare journal entry 9 10 5 Post these entries to the general ledger in tab 2 11 using the green lines to post these entries 12 13 6 Prepare a Post closing trail balance in Tab 3 Col Mand N 14 15 Complete the closing entries to income summary here 16 DR 17 1 18 19 to close revenue to income summary 20 21 2 22 23 24 25 26 27 28 29 30 CR list all expenses here 31 to close expenses to income summary Tab 3 FinStateme 32 Tab 4 Adjusting Entries Tab 3 Worksheet Tab 2 Ledger required Tab 1 Journal Entries chrome:/ewtab. Ready Unit Assignment AC 107 Unit 7 Final Pa.. D E F G A B 0 5 Post these entries to the general ledger in tab 2 11 using the green lines to post these entries 12 13 6 Prepare a Post closing trail balance in Tab 3 Col M and N 14 15 Complete the closing entries to income summary here 16 17 18 19 to close revenue to income summary 20 21 2 22 23 DR CR list all expenses here to close expenses to income summary 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 3 To close net income to capital 4 To close Draw to Capital account Tab 5 Fin State Tab 4 Adjusting Entries Tab 3 Worksheet Tab 2 Ledger required Tab 1 Journal Entries chrome:/ewtab- Ready Una 7 Assignment- AC 107 Unit 7 Final P. Alignment Number A B D Prepare the Post Closing Trial Balance Parrots Campground Post Closing Trail Balance Debit Accounts Credit Page 1 0 1 12 13 14 15 16 17 Total 18 Check Figure 235,225 19 20 21 22 23 24 25 26 27 Tab 6 Closing entries Tab 5 Fin Statements Tab 2 Ledger Tab 3 Worksheet Tab 4 Adjusting Entries chrome:/ewtab-G. Ready Unit 7 Assignment -F.. AC107 Unit 7 Final Pa.. E