complete theremainder of the worksheet. Income statement (revenues and expense account balancesarecarried over to the appropriate income statement debit or credit columns and balancesheet (asset, liability and equity) account balances are carried over to the appropriatebalance sheet debit or credit columns

Rocky Ram, Inc. Trial Balance November 30, 2015 Acct# 1010 1020 1030 1035 1040 1050 1060 1510 1515 1520 1530 1535 2010 2020 2030 2040 2050 2500 2700 2800 3000 3800 3900 4010 4100 4150 5010 6000 6010 6020 6030 6040 6050 6060 7000 7100 7150 9000 Account Name Cash Cash in Savings Account Accounts Receivable Allowance of Doubtful Accounts Merchandise Inventory Prepaid Insurance Supplies Office Equipment Accumulated Depr. - Office Equip. Land Building Accumulated Depr. - Building Accounts Payable Wages & Salaries Payable Unearned Rent Revenue Interest Payable Income Taxes Payable Dividends Payable Notes Payable Mortgage Note Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Good Sold Wages & Salaries Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Exp. - Buildings Depreciation Exp. - Equipment Bad Debt Expense Interest Expense Interest Revenue Rent Revenue Income Tax Expense Total $ Fall 2016 Credit Debit 45,600 60,552 75,000 $ 1,500 202,000 2,000 17,000 130,000 47,000 380,000 180,000 11,500 52,000 200,000 190,000 479,500 6,000 2,153,758 7,200 15,733 1,204,900 685,000 4,000 74,200 26,000 5,500 11,000 4,125 552 $3,135,810 Page 6 $3,135,810 Rocky Ram, Inc. General Journal Trans. J1 J2 J3 J4 J5 J6 J6 J7 J8 J9 J10 J10 J11 J11 Account Name Cash Accounts Receivable - Kanga Roo Page 1 Acct. Ref. Number 1010 1030 Debit 17,000 17,000 Cash Unearned Rent Revenue 1010 2030 9,000 Accounts Payable Cash 2010 1010 35,000 Supplies Accounts Payable 6030 2010 4,000 Cash Accounts Receivable 1010 2010 30,000 Accounts Receivable Sales Revenue 1030 4010 80,000 Cost of Goods Sold Merchandise Inventory 5010 1040 55,000 Dividends Dividends Payable 3900 2500 8,200 Salary Expense Cash 6000 1010 31,000 Cash Sales Discount Accounts Receivable 1010 4150 1030 78,400 1,600 Accounts Receivable Sales Revenue 1030 4010 140,000 Cost of Goods Sold Merchandise Inventory 5010 1040 90,000 Sales Returns & Allowances Accounts Receivable 4100 1030 14,000 Merchandise Inventory Cost of Goods Sold 1040 5010 9,000 Page 7 Credit 9,000 35,000 4,000 30,000 80,000 55,000 8,200 31,000 80,000 140,000 90,000 14,000 9,000 J12 No Entry Page 8 Rocky Ram, Inc. General Journal Trans. J13 J14 Page 2 Acct. Ref. Number 1510 1010 2700 Account Name Office Equipment Cash Notes Payable Utilities Expense Cash 6020 1010 Page 9 Debit 60,000 Credit 15,000 45,000 10,000 10,000 Page 10 Rocky Ram, Inc. General Ledger Acct. No. 1010 Cash Explanation Balance - Nov. 30, 2015 Post Ref. J1 J2 J3 J5 J8 J9 J13 J14 1020 Cash in Savings Account Explanation Balance - Nov. 30, 2015 Post Ref. 1030 Accounts Receivable Explanation Balance - Nov. 30, 2015 Post Ref. J1 J6 J9 J10 J11 J5 1035 Allowance for Doubtful Accts. Explanation Balance - Nov. 30, 2015 Post Ref. 1040 Merchandise Inventory Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit 17,000 9,000 35,000 30,000 31,000 78,400 15,000 10,000 Debit Debit Credit Credit 17,000 80,000 80,000 140,000 14,000 30,000 Debit Credit Balance Credit 45,600 62,600 71,600 36,600 66,600 35,600 114,000 99,000 89,000 Debit Balance Debit Credit 60,552 Balance Debit Credit 75,000 58,000 138,000 58,000 198,000 184,000 154,000 Debit Balance Credit 1,500 Debit J6 J10 J11 9,000 Page 11 Balance Credit Debit Credit 202,000 55,000 147,000 90,000 57,000 66,000 Rocky Ram, Inc. General Ledger Acct. No. 1050 Prepaid Insurance Explanation Balance - Nov. 30, 2015 1060 Supplies Explanation Balance - Nov. 30, 2015 Post Ref. Post Ref. Debit Debit J4 1510 Office Equipment Explanation Balance - Nov. 30, 2015 Post Ref. J13 Credit Credit 4,000 Debit Credit 60,000 Balance Debit Credit 2,000 Balance Debit Credit 17,000 21,000 Balance Debit Credit 130,000 190,000 1515 Accum. Depr. - Office Equip. Explanation Balance - Nov. 30, 2015 Post Ref. 1520 Land Post Ref. Debit Credit Balance Debit Credit 380,000 Post Ref. Debit Credit Balance Debit Credit 180,000 Explanation Balance - Nov. 30, 2015 1530 Building Explanation Balance - Nov. 30, 2015 1535 Accum. Depr. - Building Explanation Balance - Nov. 30, 2015 Debit Credit Debit Balance Credit 47,000 Post Ref. Debit Credit Debit Balance Credit 11,500 Page 12 Rocky Ram, Inc. General Ledger Acct. No. 2010 Accounts Payable Explanation Balance - Nov. 30, 2015 Post Ref. J3 J4 2020 Wages & Salaries Payable Explanation Balance - Nov. 30, 2015 Post Ref. 2030 Unearned Rent Revenue Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Debit Balance Credit 52,000 17,000 21,000 35,000 4,000 Debit Credit Debit Balance Credit - Debit J2 2040 Interest Payable Explanation Balance - Nov. 30, 2015 Post Ref. 2050 Income Taxes Payable Explanation Balance - Nov. 30, 2015 Post Ref. 2500 Dividends Payable Explanation Balance - Nov. 30, 2015 Post Ref. Credit Debit Balance Credit 9,000 9,000 Debit Credit Debit Balance Credit - Debit Credit Debit Balance Credit - Debit J7 Credit 8,200 Page 13 Debit Balance Credit 8,200 2700 Note Payable Explanation Balance - Nov. 30, 2015 Post Ref. Debit J13 Credit Debit Balance Credit 45,000 45,000 Rocky Ram, Inc. General Ledger Acct. No. 2800 Mortgage Note Payable Explanation Balance - Nov. 30, 2015 Post Ref. Credit Debit 200,000 3000 Common Stock Explanation Balance - Nov. 30, 2015 Post Ref. 3800 Retained Earnings Explanation Balance - Nov. 30, 2015 Post Ref. 3900 Dividends Post Ref. Explanation Balance - Nov. 30, 2015 Debit Balance Credit Debit Credit Debit Balance Credit 190,000 Debit Credit Debit Balance Credit 479,500 Debit J7 Credit 8,200 Balance Debit Credit 6,000 14,200 3999 Income Summary Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Debit 4010 Sales Revenue Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Debit J6 J10 80,000 140,000 Page 14 Balance Credit Balance Credit 2,153,758 2,233,758 2,373,758 4100 Sales Returns and Allowances Explanation Balance - Nov. 30, 2015 Post Ref. J11 Debit 14,000 Page 15 Credit Debit Balance Credit 7,200 21,200 Rocky Ram, Inc. General Ledger Acct. No. 4150 Sales Discounts Explanation Balance - Nov. 30, 2015 Post Ref. Debit J9 5010 Cost of Goods Sold Explanation Balance - Nov. 30, 2015 Post Ref. J6 J10 J11 6000 Wage & Salary Expense Explanation Balance - Nov. 30, 2015 Post Ref. J8 6010 Insurance Expense Explanation Balance - Nov. 30, 2015 Post Ref. 6020 Utilities Expense Explanation Balance - Nov. 30, 2015 Post Ref. J14 6030 Supplies Expense Explanation Balance - Nov. 30, 2015 Post Ref. Credit Debit 1,600 Debit 55,000 90,000 Debit Balance Debit Credit 1,204,900 1,259,900 1,349,900 9,000 1,340,900 Credit Credit 31,000 Debit Debit Credit Credit 10,000 Debit Page 16 Balance Credit 15,733 17,333 Credit Balance Debit Credit 685,000 716,000 Balance Debit Credit 4,000 Balance Debit Credit 74,200 84,200 Debit Balance Credit 26,000 Rocky Ram, Inc. General Ledger Acct. No. 6040 Depreciation Exp. - Bldg. Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Balance Debit Credit 5,500 Credit Balance Debit Credit 11,000 Credit Debit Balance Credit - 6050 Depreciation Exp. - Equip. Explanation Balance - Nov. 30, 2015 Post Ref. 6060 Bad Debt Expense Explanation Balance - Nov. 30, 2015 Post Ref. 7000 Interest Expense Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Balance Debit Credit 4,125 7100 Interest Revenue Explanation Balance - Nov. 30, 2015 Post Ref. Debit Credit Debit 7150 Rent Revenue Explanation Balance - Nov. 30, 2015 Post Ref. 9000 Income Tax Expense Explanation Balance - Nov. 30, 2015 Post Ref. Debit Debit Balance Credit 552 Debit Credit Debit Balance Credit - Debit Page 17 Credit Debit Balance Credit - Page 18 Rocky Ram, Inc. Worksheet 12/31/2015 Acc. # 1010 1020 1030 1035 1040 1050 1060 1510 1515 1520 Account Titles Cash Cash in Savings Account Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Prepaid Insurance Supplies Office Equipment Accum. Depr. - Office Equip. Land 1530 Building 1535 2010 2020 2030 2040 2050 2500 2700 2800 3000 3800 3900 4010 4100 4150 5010 6000 6010 6020 6030 6040 6050 6060 7000 7100 7150 9000 Accum. Depr. - Bldg. Accounts Payable Wages & Salaries Payable Unearned Rent Revenue Interest Payable Income Taxes Payable Dividends Payable Notes Payable Mortgage Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Wage & Salary Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Expense - Bldg. Depreciation Expense - Equip. Bad Debt Expense Interest Expense Interest Revenue Rent Revenue Income Tax Expense Totals Net Income Totals "Ref." Explanations: 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) Unadjusted Trial Balance Dr. Cr. Ref 89,000 60,552 154,000 1,500 66,000 2,000 21,000 190,000 47,000 380,000 Adjustments Dr. Ref 50 Cr. 11,000 500 15,900 1,000 180,000 Adjusted Trial Balance Dr. Cr. 89,050 60,552 154,000 12,500 66,000 1,500 5,100 190,000 48,000 380,000 180,000 11,500 21,000 500 12,000 21,000 32,500 6,000 37,500 19,000 8,200 45,000 200,000 190,000 479,500 32,500 9,000 3,000 37,500 19,000 8,200 45,000 200,000 190,000 479,500 14,200 14,200 2,373,758 21,200 17,333 1,340,900 716,000 4,000 84,200 26,000 5,500 11,000 2,373,758 32,500 500 15,900 500 1,000 11,000 37,500 4,125 552 50 3,000 19,000 3,387,010 21,200 17,333 1,340,900 748,500 4,500 84,200 41,900 6,000 12,000 11,000 41,625 3,387,010 602 3,000 19,000 3,488,560 3,488,560 Income Statement Dr. Cr. Balance Sheet Dr. Cr. Rocky Ram, Inc. Adjusting Journal Entries Trans. AJ1 AJ2 AJ3 AJ4 AJ5 AJ6 AJ7 AJ8 AJ9 AJ10 Account Name Depreciation Exp. - Building Accum. Depr. Expense - Building Depreciation Exp Accum Depr. Exp. Office Equipment Insurance Expense Prepaid Insurance Acct. Ref. Number Page 3 Debit Credit 500 500 1,000 1,000 500 500 Supplies Expense Supplies 15,900 Salaries Expense Salaries Payable 32,500 15,900 32,500 Unearned Rent Revenue Rent Revenue 3,000 3,000 Interest Expense Interest Payable 37,500 37,500 Cash Interest Revenue 50 50 Bad Debts Expense Allowance for Doubtful Accounts Income Taxes Expense Income Taxes Payable 11,000 11,000 19000.00 19,000 Page 20 Page 21 Rocky Ram, Inc. Income Statement For the Year Ended 12/31/15 Rocky Ram, Inc. Retained Earnings Statement For the Year Ended 12/31/15 Page 22 Rocky Ram, Inc. Balance Sheet 12/31/15 Page 23 Page 24 Rocky Ram, Inc. Closing Journal Entries Trans. Acct. Ref. Number Account Name Page 25 Page 4 Debit Credit Page 26 Rocky Ram, Inc. Post Closing Trial Balance December 31, 2015 Acct# Account Name Page 27 Debit Credit - Page 28 Rocky Ram, Inc. Financial Ratios December 31, 2015 Year End Current Ratio : 1 Working Capital Profit Margin Percentage Debt to Total Assets Ratio Current ratio Current assets Current liabilites / = Working capital Current assets Current liabilites - = Profit margin % Net income Net sales / = Debt to asset ratio Total liabilities Total assets / = Page 29 :1 Rocky Ram Practice Set Grading Schedule ACCTG 4A - Financial Accounting Fall 2016 Possible Steps 1-17 General Journal Entries Journalize Adjusting JE's worksheet Postings to GL Financials Closig JE Post Closing Trial Balance Ratios Total 5 4 3 3 7 4 2 2 30 Earned 0