Adjusting Journal Entries

Adjusted Trial Balance

Retained Earning Sheet

Classified Balance Sheet

Journal Entrues for closing short term accounts

Post Closing Trial Balance

closing entries (SO 1, 2, 3, 6) Dr. JOHN CLAIS, INC. Work Sheet For the Quarter Ended March 31, 2008 Trial Balance Account Titles Cash 12,400 Accounts Receivable 2.620 Supplies 1,250 Prepaid Insurance 2.000 Equipment 32,000 Notes Payable 10,000 Accounts Payable 12,350 Common Stock 20.000 Dividends 600 Service Revenue 13,620 Salaries Expense Travel Expense 900 Rent Expense 1.000 55,970 55,970 3,200 Other data: 1. Supplies on hand total $500. 2. Depreciation is $250 per quarter. 3. Interest accrued on a six-month note payable, issued January 1, $400. 4. Insurance expires at the rate of $180 per month 5. Services provided but unbilled at March 31 total $1,750. Instructions () Enter the trial balance on a work sheet, and complete the work sheet. (b) Prepare an income statement and a retained earnings statement for the quarter and a clas- fied balance sheet on March 31. () Journalize the adjusting entries from the adjustments columns of the work sheet. (d) Journalize the closing entries from the financial statement columns of the work sheet