C16 Requirement 4 fix E H STEP 1: Prepare the end-of-month closing entries for April 30. For help, refer to pages 169-174 in your textbook/eBook. Trans# (cl1) Close revenue account (cl2) Close Expense accounts (cl3) Close Income Summary account (cl4) Close Smith, Withdrawals 10 STEP 2: Post closing entries in the WORKSHEET-POST CLOSING tab. 11 12 13 14 General Ledger 15 16 Date Apr 30 Trans# (cl1) General Ledger Account Description Account No. Debit Credit 17 18 Apr 30 (Cl2) 19 20 21 22 23 24 25 26 27 28 Apr 30 (c13) 29 30 Apr 30 (c14) 31 32 Total Debits and Credits 33 34 Check Figure: 349,400 349 400 35 36 37 P 1 WORKSHEET-POST CLOSING 2 3 After posting end-of-month closing entries, go to Req 5 tab. 4 5 6 Hook & Sinker Resort Worksheet-Post Closing. 7 8 9 10 Cash 11 Office Supplies 12 Food Supplies Account Names 13 Prepaid Insurance 14 Fishing Boats 15 Accumulated Depreciation-Fishing Boats 16 Accounts Payable 17 Wages Payable 18 Jack Zeeman, Capital 19 Jack Zeeman, Drawing 20 Income Summary 21 Registration Fees 22 Wages Expense 23 Rent Expense 24 Office Supplies Expense 25 Food Supplies Expense 26 Phone Expense 27 Utilities Expense 28 Insurance Expense 29 Postage Expense 30 Depreciation Expense-Fishing Boats 31 32 33 34 35 41 April 30, 20-- Adjusted Trial Balance Debit Credit Trans# Closing Adjustments Debit Credit Trans# . . . - . - - . (C4) (c2.c13) (c13) (C4) Post Trial Balance Debit Credt - . (cl1) (cl1) (c2) (c2) (c2) [(c2) - (c2) (c12) (c2) (c2) (c12) Check figures 329,700 329,700 349,400 349,400 206.250 206,250 1 Requirement 5 2 3 Use the WORKSHEET-POST CLOSING tab to prepare a post-closing Trial Balance. 4 5 6 7 Hook & Sinker Resort Post-Closing Trial Balance April 30, 20-- 8 9 10 Account Title 11 Cash 12 Office Supplies 13 Food Supplies 14 Prepaid Insurance 15 Fishing Boats 16 Accumulated Depreciation-Fishing Boats 17 Accounts Payable 18 Wages Payable 19 Jack Zeeman, Capital 20 Jack Zeeman, Drawing 21 Income Summary 22 Registration Fees 23 Wages Expense 24 Rent Expense 25 Office Supplies Expense 26 Food Supplies Expense 27 Phone Expense 28 Utilities Expense 29 Insurance Expense 30 Postage Expense 31 Depreciation Expense-Fishing Boats 32 33 34 35 36 37 38 Balance Debit Credit $ S Check figure 206,250 206,250 A 6 The following transactions took place during April 20-- 7 8 Apr 11 9 Apr 1 10 Apr 2 11 Apr 2 12 Apr 2 13 Apr 3 14 Apr 5 15 Apr 7 16 Apr 10 17 Apr 10 18 Apr 14 19 Apr 16 20 Apr 17 21 Apr 18 22 Apr 21 23 Apr 24 24 Apr 24 25 Apr 28 26 Apr 29 27 Apr 30 28 Apr 30 29 Apr 30 30 Apr 30 31 Apr 30 Jack Zeeman invested cash in business, $90,000. B Paid insurance premium for six-month camping season, $9,000. Paid rent for lodge and campgrounds for the month of April, $40,000. Deposited registration fees, $35,000. Purchased 10 fishing boats on account for $60,000. 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 July. Purchased food supplies from Acme Super Market on account, $7,000. Purchased office supplies from Gordon Office Supplies on account, $500. Deposited registration fees, $38,600. Purchased food supplies from Acme Super Market on account, $8,200. Paid wages to fishing guides, $10,000. Deposited registration fees, $30,500. Purchased food supplies from Acme Super Market on account, $9,000. Paid wages to fishing guides, $10,000. Paid postage, $150. Deposited registration fees, $35,600. Purchased food supplies from Acme Super Market on account, $8,500. Paid wages to fishing guides, $10,000. Deposited registration fees, $32,000. Paid wages to fishing guides, $10,000. Purchased food supplies from Acme Super Market on account, $6,000. Paid Acme Super Market on account, $32,700. Paid utilities bill, $2,000. Paid phone bill, $1,200, Jack Zeeman withdrew cash for personal use, $6,000. 32 C