Devine Brown opened Devine’s Carpet Cleaners on March 1. During March, the following transactions were completed.

'w can I st vestment Gfx Ad T.ME Property Tax Expense 18,000 21,000 Interest Expense Totals Insurance Expense Supplies Expense Interest Payable Depreciation Expense Property Taxes Payable Totals Instructions 6,000 491,700 10,000 491,700 21,000 16,400 4,000 6,000 3,000 504,700 504,700 (a) Prepare a complete worksheet. Probler (b) Prepare a classified balance sheet. (Note: $15,000 of the mortgage note payable is due for (b) Total payment in the next fiscal year.) $54,5 (c) Journalize the adjusting entries using the worksheet as a basis. (d) Journalize the closing entries using the worksheet as a basis. (e) Prepare a post-closing trial balance. (e) Post-c $254, P4-5A Devine Brown opened Devine's Carpet Cleaners on March 1. During March, the fol- lowing transactions were completed. Complete accountin (SO 1, 2, Mar. 1 Invested $10,000 cash in the business. GLS 1 3 Purchased used truck for $6,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,200 on account. 5 Paid $1,200 cash on one-year insurance policy effective March 1. 14 Billed customers $4,800 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $500 on amount owed on cleaning supplies. 20 21 Paid $1,800 cash for employee salaries. Collected $1,400 cash from customers billed on March 14. 31 Paid gasoline for month on truck $200. 28 Billed customers $2,500 for cleaning services. 31 Withdrew $700 cash for personal use. The chart of accounts for Devine's Carpet Cleaners contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 301 Owner's Capital, No. 306 Owner's Drawings, No. 350 Income Sum- mary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 634 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions (a) Journalize and post the March transactions. Use page J1 for the journal and the three-column form of account. (b) Prepare a trial balance at March 31 on a worksheet. (c) Enter the following adjustments on the worksheet and complete the worksheet. (1) Earned but unbilled revenue at March 31 was $500. (2) Depreciation on equipment for the month was $300. (b) Trial (c) Adjus $20,85 (3) One-twelfth of the insurance expired. (4) An inventory count shows $250 of cleaning supplies on hand at March 31. (5) Accrued but unpaid employee salaries were $550. (d) Prepare the income statement and owner's equity statement for March and a classified bal- (d) Net in ance sheet at March 31. (e) Journalize and post adjusting entries. Use page J2 for the journal. (f) Journalize and post closing entries and complete the closing process. Use page journal. (g) Prepare a post-closing trial balance at March 31. P4-6A Luol Deng CPA, was retained by Acie Cable to prepare financial statements for April 2012. Deng accumulated all the ledger balances per Acie's records and found the following. Total a) Post-e $16,2 alyze e orrecting balance. (SO 5) 196 4 Completing the Accounting Cycle ACIE CABLE