AutoSave OFF A AES- a Acct 201 Fall 2021 - Student Version (2) 2 Tell me Home Insert Draw Page Layout Formulas Data Review View Share Comments X Arial Insert V 18 . AI = = ab Wrap Text Custom V Do AY WE Ow | 11 | DX Delete v Paste B I U * V A Merge & Center $ % ) % .00 00 0 Sensitivity Conditional Format Cell Formatting as Table Styles Format Sort & Filter Find & Select Analyze Data V D47 4 x fx =SUM(D9:D46) B D H 1 M N R u V w Z AA 2 3 ACME Distribution, Inc. Trial Balance December 31, 2016 > 6 6 12/31/2015 December 31, 2016 December 31, 2016 December 31, 2016 Post-Closing Trial Balance 7 Balances Unad usted Trial Balance Adjustments Adjusted Trial Balance Closing Entries 8 8 (FYI Only) Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 34,620 10 Accounts receivable 25,0601 11 Allowance for bad debts -1,200 12 Inventory 66,750 13 Supplies 14 Prepaid insurance 10,700 15 Prepaid rent 2,600 35,000 16 Office equipment Accumulated depreciation Office 17 equipment -8.000 30,000 18 Warehouse equipment Accumulated depreciation-Warehouse 19 equipment -16.000 20 Accounts payable -14.550 21 Bond payable 22 Salaries payable -470 23 Interest payable 0 24 Dividends payable 25 Unearned revenue 26 Common stock - 1.200 27 Additional paid-in capital-Common stock -900 28 Retained earnings -153.530 29 30 Dividends 12,000 31 Sales -607,480 Trial balance General ledger Adjusting entries Inventory adjustment Allow. for bad debts Depreciation Accrued interest Income Statement Stmt. of SH Equity Balance Sheet + Ready -- + + 50% AutoSave OFF A AES- a Acct 201 Fall 2021 - Student Version (2) 2 Tell me Home Insert Draw Page Layout Formulas Data Review View Share Comments X Arial Insert V 18 . AI = = ab Wrap Text Custom V Do WE 47 Ow DX Delete v Paste B I U * V A Merge & Center $ % ) .00 00 0 Sensitivity Conditional Format Cell Formatting as Table Styles Format Sort & Filter Find & Select Analyze Data V D47 4 x fx =SUM(D9:D46) B D H 1 M N R u V w Z AA 2 3 ACME Distribution, Inc. Trial Balance December 31, 2016 > 6 12/31/2015 December 31, 2016 December 31, 2016 December 31, 2016 Post-Closing Trial Balance 7 Balances Unad usted Trial Balance Adjustments Adjusted Trial Balance Closing Entries 8 Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit (FYI Only) -153,530 28 Retained earnings 29 30 Dividends 12,000 31 Sales -607,480 32 Sales discounts 1,480 33 Sales returns & allowance 620 34 Cost of goods sold 461,200 1,200 35 Depreciation expense-Office equipment Depreciation expense-Warehouse 36 equipment 2,500 37 Bad debt expense 640 38 Salaries expense 48.000 39 Insurance expense 18.060 40 Rent expense 24,000 41 Interest expense 0 42 Advertising expense 15.900 43 Utilities expense 13,000 44 Income summary 45 46 47 Totals 48 49 su $ 1,491,205 $ 1,491,205 $ 292,032 $ 292,032 Check figures $ 1,029,900 $ 1,029,900 $ 25,795 $ 25,795 $1,040,772 $ 1,040,772 5. Post each entry individually. Do not combine them. Be sure to complete the total line for each column. . . General ledger Trial balance Adjusting entries Inventory adjustment Allow. for bad debts Depreciation Accrued interest Income Statement Stmt. of SH Equity Balance Sheet + Ready -- + + 50% AutoSave OFF A AES- a Acct 201 Fall 2021 - Student Version (2) 2 Tell me Home Insert Draw Page Layout Formulas Data Review View Share Comments X Arial Insert V 18 . AI = = ab Wrap Text Custom V Do AY WE Ow | 11 | DX Delete v Paste B I U * V A Merge & Center $ % ) % .00 00 0 Sensitivity Conditional Format Cell Formatting as Table Styles Format Sort & Filter Find & Select Analyze Data V D47 4 x fx =SUM(D9:D46) B D H 1 M N R u V w Z AA 2 3 ACME Distribution, Inc. Trial Balance December 31, 2016 > 6 6 12/31/2015 December 31, 2016 December 31, 2016 December 31, 2016 Post-Closing Trial Balance 7 Balances Unad usted Trial Balance Adjustments Adjusted Trial Balance Closing Entries 8 8 (FYI Only) Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 34,620 10 Accounts receivable 25,0601 11 Allowance for bad debts -1,200 12 Inventory 66,750 13 Supplies 14 Prepaid insurance 10,700 15 Prepaid rent 2,600 35,000 16 Office equipment Accumulated depreciation Office 17 equipment -8.000 30,000 18 Warehouse equipment Accumulated depreciation-Warehouse 19 equipment -16.000 20 Accounts payable -14.550 21 Bond payable 22 Salaries payable -470 23 Interest payable 0 24 Dividends payable 25 Unearned revenue 26 Common stock - 1.200 27 Additional paid-in capital-Common stock -900 28 Retained earnings -153.530 29 30 Dividends 12,000 31 Sales -607,480 Trial balance General ledger Adjusting entries Inventory adjustment Allow. for bad debts Depreciation Accrued interest Income Statement Stmt. of SH Equity Balance Sheet + Ready -- + + 50% AutoSave OFF A AES- a Acct 201 Fall 2021 - Student Version (2) 2 Tell me Home Insert Draw Page Layout Formulas Data Review View Share Comments X Arial Insert V 18 . AI = = ab Wrap Text Custom V Do WE 47 Ow DX Delete v Paste B I U * V A Merge & Center $ % ) .00 00 0 Sensitivity Conditional Format Cell Formatting as Table Styles Format Sort & Filter Find & Select Analyze Data V D47 4 x fx =SUM(D9:D46) B D H 1 M N R u V w Z AA 2 3 ACME Distribution, Inc. Trial Balance December 31, 2016 > 6 12/31/2015 December 31, 2016 December 31, 2016 December 31, 2016 Post-Closing Trial Balance 7 Balances Unad usted Trial Balance Adjustments Adjusted Trial Balance Closing Entries 8 Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit (FYI Only) -153,530 28 Retained earnings 29 30 Dividends 12,000 31 Sales -607,480 32 Sales discounts 1,480 33 Sales returns & allowance 620 34 Cost of goods sold 461,200 1,200 35 Depreciation expense-Office equipment Depreciation expense-Warehouse 36 equipment 2,500 37 Bad debt expense 640 38 Salaries expense 48.000 39 Insurance expense 18.060 40 Rent expense 24,000 41 Interest expense 0 42 Advertising expense 15.900 43 Utilities expense 13,000 44 Income summary 45 46 47 Totals 48 49 su $ 1,491,205 $ 1,491,205 $ 292,032 $ 292,032 Check figures $ 1,029,900 $ 1,029,900 $ 25,795 $ 25,795 $1,040,772 $ 1,040,772 5. Post each entry individually. Do not combine them. Be sure to complete the total line for each column. . . General ledger Trial balance Adjusting entries Inventory adjustment Allow. for bad debts Depreciation Accrued interest Income Statement Stmt. of SH Equity Balance Sheet + Ready -- + + 50%