Chart of Accounts CHART OF ACCOUNTS Arborvite Consulting General Ledger ASSETS 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation-Office Equipment LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees REVENUE 41 Fees Earned EXPENSES 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Month Ended July 31, 20 Y9 July 31,20Y9 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Investments during the month Net income Net loss Samantha Hogan, capital, July 1, 20 Y9 Samantha Hogan, capital, July 31, 20 Y9 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity 10. Prepare a post-closing trial balance. Total expenses EQUITY Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals JOURNAL preparation of the adjusted trial balance. Required: 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31, 20Y9. If you didn't complete the end-of-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31 , 20Y9.* Be sure to read the instructions for each financial statement carefully. 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on July 31 . B. Use the spreadsheet to post the closing entries to the ledger of four-column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. 10. Prepare a post-closing trial balance. 10. Prepare a post-closing trial balance. 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare a statement of owner's equity for the month ended July 31, 20Y9. If you didn't complete the endof-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare a statement of owner's equity for the month ended July 31,20Y9. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If the account balance is zero (0), enter a zero (0). Chart of Accounts CHART OF ACCOUNTS Arborvite Consulting General Ledger ASSETS 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation-Office Equipment LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees REVENUE 41 Fees Earned EXPENSES 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Month Ended July 31, 20 Y9 July 31,20Y9 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Investments during the month Net income Net loss Samantha Hogan, capital, July 1, 20 Y9 Samantha Hogan, capital, July 31, 20 Y9 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare a statement of owner's equity for the month ended July 31, 20Y9. If you didn't complete the endof-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare a statement of owner's equity for the month ended July 31,20Y9. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If the account balance is zero (0), enter a zero (0). JOURNAL Total expenses EQUITY Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals preparation of the adjusted trial balance. Required: 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31, 20Y9. If you didn't complete the end-of-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31 , 20Y9.* Be sure to read the instructions for each financial statement carefully. 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on July 31 . B. Use the spreadsheet to post the closing entries to the ledger of four-column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. 10. Prepare a post-closing trial balance. PAGE 4 Chart of Accounts CHART OF ACCOUNTS Arborvite Consulting General Ledger ASSETS 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation-Office Equipment LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees REVENUE 41 Fees Earned EXPENSES 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Month Ended July 31, 20 Y9 July 31,20Y9 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Investments during the month Net income Net loss Samantha Hogan, capital, July 1, 20 Y9 Samantha Hogan, capital, July 31, 20 Y9 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity 10. Prepare a post-closing trial balance. Total expenses EQUITY Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals JOURNAL preparation of the adjusted trial balance. Required: 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31, 20Y9. If you didn't complete the end-of-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31 , 20Y9.* Be sure to read the instructions for each financial statement carefully. 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on July 31 . B. Use the spreadsheet to post the closing entries to the ledger of four-column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. 10. Prepare a post-closing trial balance. 10. Prepare a post-closing trial balance. 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare a statement of owner's equity for the month ended July 31, 20Y9. If you didn't complete the endof-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare a statement of owner's equity for the month ended July 31,20Y9. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If the account balance is zero (0), enter a zero (0). Chart of Accounts CHART OF ACCOUNTS Arborvite Consulting General Ledger ASSETS 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation-Office Equipment LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees REVENUE 41 Fees Earned EXPENSES 51 Salary Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Month Ended July 31, 20 Y9 July 31,20Y9 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Investments during the month Net income Net loss Samantha Hogan, capital, July 1, 20 Y9 Samantha Hogan, capital, July 31, 20 Y9 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare a statement of owner's equity for the month ended July 31, 20Y9. If you didn't complete the endof-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare a statement of owner's equity for the month ended July 31,20Y9. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If the account balance is zero (0), enter a zero (0). JOURNAL Total expenses EQUITY Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals preparation of the adjusted trial balance. Required: 8. If you completed the end-of-period work sheet in Part 1, use the adjusted trial balance figures to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31, 20Y9. If you didn't complete the end-of-period work sheet in Part 1, use the ledger (the Excel spreadsheet) to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended July 31 , 20Y9.* Be sure to read the instructions for each financial statement carefully. 9. A. Journalize the closing entries on page 4 of the journal. Closing entries are recorded on July 31 . B. Use the spreadsheet to post the closing entries to the ledger of four-column accounts, inserting balances in the accounts affected. Add the appropriate posting reference to the closing entries in the journal in CengageNOW. 10. Prepare a post-closing trial balance. PAGE 4