need this filled out on a spreadsheet like excel mainly need help with General ledger (debits and credits) and post closing trial balance
teacher gave us what the ending amounts should come out to
Trial Balance - $234,320
Worksheet - $11,933
Net Income - $28,122
Post Closing Trial Balance - $155,655
Haddock de Mar Practice Set Template S20 - o starch RA View M These Deals AX Mnbox (311-bix 1950s 9edfor X MyOTC - Ox Meral & Connect-Claix 05b31epubct%2F6%2F178%5Bdata-uuid-c561256490ff4d79809465de6cf7155%5D1%2F4%2F16%5Bdata uuid-65023f85df46d7e88bf5b4b- records and procedures that you learned about in Chapters 15 through 6 5. The chart of accounts for Elis has been expanded to include a few new accounts. Follow the instructions to complete the accounting records January Eli's Consulting Services Chart of Accounts Assets Revenue 101 Cash 401 Fees Income 111 Accounts Receivable 121 Supplies 134 Prepaid Insurance 137 Prepaid Rent 141 Equipment 142 Accumulated Depreciation- Equipment Liabilities 202 Accounts Payable Owner'dEquity 301 Trayton Eli, Capital 302 Trayton Eli, Drawing Expenses 511 Salaries Expense 514 Utilities Expense 517 Supplies Expense 520 Rent Expense 523 Depreciation Expense- Equipment 526 Advertising Expense 529 Maintenance Expense 532 Telephone Expense 535 Insurance Expense 309 Income Summary ViewSonic Ben kanCorp Bax M These Del MW-X MyOTC - OLX MedwHX Connect -cox MM Reader 05b3eb2F178%5Bdata-uuid-5612564479003465de6cf7155222458data-uuid-d07842145003627527bfe5d250X22%data-ukte 1. Open the general ledger accounts and enter the balances for January 1, 2020 Obtain the necessary figures from the postclosing trial balance prepared on December 31, 2019, which appears in Figure 6.3. 2. Analyze each transaction and record it in the general journal. Use page 3 to begin January's transactions 3. Post the transactions to the general ledger accounts 4. Prepare the Trial Balance section of the worksheet. 5. Prepare the Adjustments section of the worksheet. a. Compute and record the adjustment for supplies used during the month. An inventory taken on January 31 showed supplies of $5.200 on hand b. Compute and record the adjustment for expired insurance for the month. c. Record the adjustment for one month of expired rent of $4,000 d. Record the adjustment for depreciation of S183 on the old equipment for the month. The first adjustment for depreciation for the new equipment will be recorded in February 6. Complete the worksheet 7. Prepare an income statement for the month 8. Prepare a statement of owner's equity 9. Prepare a balance sheet using the report form Page 193 10. Journalise and post the adjusting entries. 11. Journalize and post the closing entries 12. Prepare a postclosing trial balance Analyze: Compare the January 31 balance sheet you prepared with the December 31 balance sheet shown in Figure 6.4. a. What comes occurred in total assets. Bibilities, and the owner's ending capital b. What changes occurred in the Cash and Accounts Receivable account ViewSonic ocks M These Deals AX Mb). 1950 Stedfox MOC - Ox Med HCX 2 Conect Clux M MHE Reader sn_0563 Iepub2F%2F178%5Bdata-uuid-c56125645079809465de6df7155%5D1%2F4X2R22N5Bdata-uuid-8dc78c4214500952756427bfe5d265DX2F22580 6 Q 12. Prepare a postclosing trial balance. Analyze: Compare the January 31 balance sheet you prepared with the December 31 balance sheet shown in Figure 64.9 a. What changes occurred in total assets, liabilities, and the owner's ending capital? b. What changes occurred in the Cash and Accounts Receivable accounts? c. Has there been an improvement in the firm's financial position? Why or why not? DATE TRANSACTIONS Jan 2 Purchased supplies for $7.000; issued Check 1015. 2 Purchased a one-year insurance policy for $8.400; issued Check 1016. 7 Sold services for $20,000 in cash and 55.000 on credit during the first week of January 12 Collected a total of $4.000 on account from credit customers during the first week of January 12 Issued Check 1017 for $3.600 to pay for special promotional advertising to new businesses on the local radio Station during the month. 13 Collected a total of $4.500 on account from credit customers during the second week of January 14 Returned supplies that were damaged for a cash refund of S750. 15 Sold services for $20,700 in cash and S2.300 on credit during the second week of January 20 Purchased supplies for 55.000 from White's, Inc. received Invoice 2384 payable in 30 days 20 Sold services for 512.500 in cash and 53,500 on credit during the third week of January ViewSonic ek de Mini Practice Sellergate, SU 20 - e search Ben Vorop X These Deals AX M Inbox (31) - X 1950 S Bedfox MyOTC - One X McGraw HTC X Connect - CeX M MHE Reader Inbox fi%2F6%2F178%5Bdata-uuid-c5612564901140798092465de6cf71555D1%2F4%2F26%5Bdata-uuid-9a576c64414976b7a7a1b3982a6858%5D%26% data-uuid-5940266741 15 Sold services for $20,700 in cash and $2,300 on credit during the second week of January. 20 Purchased supplies for $5,000 from White's, Inc., received Invoice 2384 payable in 30 days. 20 Sold services for $12.500 in cash and $3.500 on credit during the third week of January 20 Collected a total of $5,600 on account from credit customers during the third week of January. 21 Issued Check 1018 for $7,065 to pay for maintenance work on the office equipment 22 Issued Check 1019 for $3,600 to pay for special promotional advertising to new businesses in the local newspaper 23 Received the monthly telephone bill for S1.025 and paid it with Check 1020. 26 Collected a total of S1,600 on account from credit customers during the fourth week of January 27 Issued Check 1021 for $3,000 to Office Plus as payment on account for Invoice 2223. 28 Sent Check 1022 for $2.675 in payment of the monthly bill for utilities. 29 Sold services for $19.000 in cash and $2.750 on credit during the fourth week of January 31 Issued Checks 1023-1027 for $32,800 to pay the monthly salaries of the regular employees and three part- time workers. 31 Issued Check 1028 for $12,000 for personal use. 31 Issued Check 1029 for $4.150 to pay for maintenance services for the month. 31 Purchased additional equipment for $15.000 from Contemporary Equipment Company, issued Check 1030 for S10,000 and bought the rest on credit. The equipment has a five-year life and no salvage value. 31 Sold services for $7.600 in cash and S1.620 on credit on January 31. Haddock de Mar Practice Set Template S20 - o starch RA View M These Deals AX Mnbox (311-bix 1950s 9edfor X MyOTC - Ox Meral & Connect-Claix 05b31epubct%2F6%2F178%5Bdata-uuid-c561256490ff4d79809465de6cf7155%5D1%2F4%2F16%5Bdata uuid-65023f85df46d7e88bf5b4b- records and procedures that you learned about in Chapters 15 through 6 5. The chart of accounts for Elis has been expanded to include a few new accounts. Follow the instructions to complete the accounting records January Eli's Consulting Services Chart of Accounts Assets Revenue 101 Cash 401 Fees Income 111 Accounts Receivable 121 Supplies 134 Prepaid Insurance 137 Prepaid Rent 141 Equipment 142 Accumulated Depreciation- Equipment Liabilities 202 Accounts Payable Owner'dEquity 301 Trayton Eli, Capital 302 Trayton Eli, Drawing Expenses 511 Salaries Expense 514 Utilities Expense 517 Supplies Expense 520 Rent Expense 523 Depreciation Expense- Equipment 526 Advertising Expense 529 Maintenance Expense 532 Telephone Expense 535 Insurance Expense 309 Income Summary ViewSonic Ben kanCorp Bax M These Del MW-X MyOTC - OLX MedwHX Connect -cox MM Reader 05b3eb2F178%5Bdata-uuid-5612564479003465de6cf7155222458data-uuid-d07842145003627527bfe5d250X22%data-ukte 1. Open the general ledger accounts and enter the balances for January 1, 2020 Obtain the necessary figures from the postclosing trial balance prepared on December 31, 2019, which appears in Figure 6.3. 2. Analyze each transaction and record it in the general journal. Use page 3 to begin January's transactions 3. Post the transactions to the general ledger accounts 4. Prepare the Trial Balance section of the worksheet. 5. Prepare the Adjustments section of the worksheet. a. Compute and record the adjustment for supplies used during the month. An inventory taken on January 31 showed supplies of $5.200 on hand b. Compute and record the adjustment for expired insurance for the month. c. Record the adjustment for one month of expired rent of $4,000 d. Record the adjustment for depreciation of S183 on the old equipment for the month. The first adjustment for depreciation for the new equipment will be recorded in February 6. Complete the worksheet 7. Prepare an income statement for the month 8. Prepare a statement of owner's equity 9. Prepare a balance sheet using the report form Page 193 10. Journalise and post the adjusting entries. 11. Journalize and post the closing entries 12. Prepare a postclosing trial balance Analyze: Compare the January 31 balance sheet you prepared with the December 31 balance sheet shown in Figure 6.4. a. What comes occurred in total assets. Bibilities, and the owner's ending capital b. What changes occurred in the Cash and Accounts Receivable account ViewSonic ocks M These Deals AX Mb). 1950 Stedfox MOC - Ox Med HCX 2 Conect Clux M MHE Reader sn_0563 Iepub2F%2F178%5Bdata-uuid-c56125645079809465de6df7155%5D1%2F4X2R22N5Bdata-uuid-8dc78c4214500952756427bfe5d265DX2F22580 6 Q 12. Prepare a postclosing trial balance. Analyze: Compare the January 31 balance sheet you prepared with the December 31 balance sheet shown in Figure 64.9 a. What changes occurred in total assets, liabilities, and the owner's ending capital? b. What changes occurred in the Cash and Accounts Receivable accounts? c. Has there been an improvement in the firm's financial position? Why or why not? DATE TRANSACTIONS Jan 2 Purchased supplies for $7.000; issued Check 1015. 2 Purchased a one-year insurance policy for $8.400; issued Check 1016. 7 Sold services for $20,000 in cash and 55.000 on credit during the first week of January 12 Collected a total of $4.000 on account from credit customers during the first week of January 12 Issued Check 1017 for $3.600 to pay for special promotional advertising to new businesses on the local radio Station during the month. 13 Collected a total of $4.500 on account from credit customers during the second week of January 14 Returned supplies that were damaged for a cash refund of S750. 15 Sold services for $20,700 in cash and S2.300 on credit during the second week of January 20 Purchased supplies for 55.000 from White's, Inc. received Invoice 2384 payable in 30 days 20 Sold services for 512.500 in cash and 53,500 on credit during the third week of January ViewSonic ek de Mini Practice Sellergate, SU 20 - e search Ben Vorop X These Deals AX M Inbox (31) - X 1950 S Bedfox MyOTC - One X McGraw HTC X Connect - CeX M MHE Reader Inbox fi%2F6%2F178%5Bdata-uuid-c5612564901140798092465de6cf71555D1%2F4%2F26%5Bdata-uuid-9a576c64414976b7a7a1b3982a6858%5D%26% data-uuid-5940266741 15 Sold services for $20,700 in cash and $2,300 on credit during the second week of January. 20 Purchased supplies for $5,000 from White's, Inc., received Invoice 2384 payable in 30 days. 20 Sold services for $12.500 in cash and $3.500 on credit during the third week of January 20 Collected a total of $5,600 on account from credit customers during the third week of January. 21 Issued Check 1018 for $7,065 to pay for maintenance work on the office equipment 22 Issued Check 1019 for $3,600 to pay for special promotional advertising to new businesses in the local newspaper 23 Received the monthly telephone bill for S1.025 and paid it with Check 1020. 26 Collected a total of S1,600 on account from credit customers during the fourth week of January 27 Issued Check 1021 for $3,000 to Office Plus as payment on account for Invoice 2223. 28 Sent Check 1022 for $2.675 in payment of the monthly bill for utilities. 29 Sold services for $19.000 in cash and $2.750 on credit during the fourth week of January 31 Issued Checks 1023-1027 for $32,800 to pay the monthly salaries of the regular employees and three part- time workers. 31 Issued Check 1028 for $12,000 for personal use. 31 Issued Check 1029 for $4.150 to pay for maintenance services for the month. 31 Purchased additional equipment for $15.000 from Contemporary Equipment Company, issued Check 1030 for S10,000 and bought the rest on credit. The equipment has a five-year life and no salvage value. 31 Sold services for $7.600 in cash and S1.620 on credit on January 31
