Brief e unadjusted balances and adjustments into a worksheet and complete the work- all accounts. (Note: You will need to add the following accounts Receivable, Salaries and Wages Payable, and Insurance BE4-3 The following selected in worksheet forted accounts appear in the adjusted trial balance columns of the identify work which each balance should be extended. BE4-4 The ledger of Rios Company contains the following balances: worksheet for Goulet Company: Accumu lated Depreciation-Equipment: Depreclation for selected a Common Stock; Dividends; Service Revenue: Supplies; and Accounts Payable. L0 1) te the financial statement column (income statement Dr., balance sheet Cr., etc.) to Retained Earnings Prepare clos S00 Dividends $2,000, Service Revenue $50,000; Salaries and Wages Expense $27,000: ledger balana (LO 2) and Supplies Expense $7,000. Prepare the closing entries at December 31. BE4-5 and underline and balance the accounts. Using the data in BE4-4, enter the balances in T-accounts, post the closing entries, Post closing and balanc LO 2) Joumalize BE4-6 The income shows Service ee Revenue $16,400, Salaries and Wages Expense $8.200, Maintenance and entries usi and expense accounts. statement for Weeping Willow Golf Club for the month ending July 31 Expense $2,500, and Net Income $5,700. Prepare the entries to close the revenue Post the entries to the revenue and expense accounts, and complete column fo a 2) process for these accounts using the three-column form of account. e data in BE4-3, identify the accounts that would be included in a post- Idenuify p closing trial balance. balannce6 BE4-8 The in blank spaces. (a) steps in the accounting cycle are listed in random order below. List the steps oper sequence, assuming no worksheet is prepared, by placing numbers 1-9 in the List the account LO 3) Prepare a trial balance Journalize the transactions. Journalize and post closing entries. Prepare financial statements. Journalize and post adjusting entries. Post to ledger accounts. Prepare a post-closing trial balance. Prepare an adjusted trial balance. Analyze business transactions. (f) (g) (h) 0) BE4-9 At Creighton Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the correcting entries. 1. A collection on account from a customer for $870 was recorded as a debit to Cash $870 Prepa (LO 3 and a credit to Service Revenue $870. 2. The purchase of store supplies on account for $1,570 was recorded as a debit to Supplies $1,750 and a credit to Accounts Payable $1,750 BE4-10 The balance sheet debit column of the worksheet for Hamidi Company includes Prep the following accounts: Accounts Receivable $12,500, Prepaid Insurance $3,600, Cash sect $4,100, Supplies $5,200, and Debt Investments (short-term) $6,700. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence. (LO BE4-11 The following are the major balance sheet classifications: Cla she Current assets (CA) Long-term investments (LTI) Property, plant, and equipment (PPE) Intangible assets (IA) Current liabilities (CL.) Long-term liabilities (LTL) Stockholders' equity (SE)
