Please help! I'm totally confused. I'm taking Accounting 100 at Strayer U. We use WileyPlus, Accounting Principles 11e. I can't seem to understand how to enter closing entries. We're entering Wk 6 and I still haven't touched Wk 5 because I can't hurdle Wk. 4 questions 4-5 or 4-11. :0( #Frustrated!

8/8/2016 Print Assignment: Homework Chapter 4 ::false Brief Exercise 45 The ledger of Rios Company contains the following balances: Owner's Capital $31,014 Owner's Drawings $2,819 Service Revenue $48,987 Salaries and Wages Expense $26,095 and Supplies Expense $6,050. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/(loss). (4) Close drawings. Post the closing entries in the order presented in the problem and use the numbers as a reference. Salaries and Wages Expense Supplies Expense Service Revenue Owner's Drawings Income Summary Owner's Capital Brief Exercise 47 The following selected accounts appear in the adjusted trial balance columns of the worksheet for Goulet Company. Identify the accounts that would be included in a postclosing trial balance. Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Service Revenue Supplies Accounts Payable Brief Exercise 48 The steps in the accounting cycle are listed in random order below. List the steps in proper sequence, assuming no worksheet is prepared, by placing numbers 1-9. (a) Prepare a trial balance. (b) Journalize the transactions. (c) Journalize and post closing entries. (d) Prepare financial statements. (e) Journalize and post adjusting entries. (f) Post to ledger accounts. (g) Prepare a postclosing trial balance. (h) Prepare an adjusted trial balance. https://edugen.wiley.com/edugen/shared/assignment/test/agprint.uni?titleType=false 1/5 8/8/2016 Print Assignment: Homework Chapter 4 ::false (i) Analyze business transactions. Brief Exercise 410 The balance sheet debit column of the worksheet for Hamidi Company includes the following accounts: Accounts Receivable $11,855 Prepaid Insurance $3,504 Cash $4,028 Supplies $5,749, and Debt Investments (shortterm) $6,957. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence. (List current assets in order of liquidity.) HAMIDI COMPANY Partial Balance Sheet $ $ Exercise 41 The trial balance columns of the worksheet for Nanduri Company at June 30, 2014, are as follows. NANDURI COMPANY Worksheet For the Month Ended June 30, 2014 Trial Balance Account Titles Dr. Cr. Cash 2,100 Accounts Receivable 2,400 Supplies 1,998 Accounts Payable 1,020 Unearned Service Revenue 402 Owner's Capital 2,641 Service Revenue 3,325 Salaries and Wages Expense 632 Miscellaneous Expense Total 258 7,388 7,388 Other data: 1. A physical count reveals $641 of supplies on hand. 2. $113 of the unearned revenue is still unearned at monthend. 3. Accrued salaries are $118. Complete the worksheet. NANDURI COMPANY Worksheet For the Month Ended June 30, 2014 Trial Balance Account Titles Dr Cr. Cash 2,100 Accounts Receivable 2,400 Supplies 1,998 Accounts 1,020 Payable Unearned Service 402 Revenue Owner's 2,641 Capital Service 3,325 Revenue Salaries and Wages 632 Expense Miscellaneous 258 Expense 7,3887,388 Totals Supplies Adjustments Dr Adj. Trial Balance Cr. https://edugen.wiley.com/edugen/shared/assignment/test/agprint.uni?titleType=false Dr Income Statement Cr. Dr Cr. 2/5 8/8/2016 Print Assignment: Homework Chapter 4 ::false Expense Salaries and Wages Payable Totals Net Income Totals Exercise 49 (Part level Submission) The adjusted trial balance for Plevin Company. PLEVIN COMPANY Adjusted Trial Balance July 31, 2014 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated DepreciationEquip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense Debit Credit $9,128 8,957 16,056 $7,341 4,402 1,538 45,103 16,112 63,715 6,341 6,817 56,385 14,985 $128,440 $128,440 (a1) Prepare an income statement for the year. PLEVIN COMPANY Income Statement For the Year Ended July 31, 2014 $ $ $ $ (a2) Prepare an owner's equity statement for the year. Plevin did not make any capital investments during the year. (List items that increase owner's equity first.) PLEVIN COMPANY Owner's Equity Statement For the Year Ended July 31, 2014 $ : $ https://edugen.wiley.com/edugen/shared/assignment/test/agprint.uni?titleType=false 3/5 8/8/2016 Print Assignment: Homework Chapter 4 ::false (b) Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.) PLEVIN COMPANY Balance Sheet July 31, 2014 Assets $ $ : $ Liabilities and Owner's Equity $ $ $ Exercise 411 (Part level Submission) Selected accounts for Heather's Salon are presented below. All June 30 postings are from closing entries. Salaries and Wages Expense 6/10 3,137 6/30 6/28 5,704 8,841 Supplies Expense 6/12 533 6/30 6/24 620 1,153 Service Revenue 6/30 18,205 6/15 9,214 6/24 8,991 Rent Expense 6/1 3,400 6/30 3,400 Owner's Capital 6/30 2,989 6/1 6/30 Bal. 12,159 4,811 13,981 Owner's Drawings 6/13 1,134 6/30 6/25 1,855 2,989 (a) Prepare the closing entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 (To close revenue account.) June 30 https://edugen.wiley.com/edugen/shared/assignment/test/agprint.uni?titleType=false 4/5 8/8/2016 Print Assignment: Homework Chapter 4 ::false (To close expense account.) June 30 (To close net income / (loss).) June 30 (To close drawings.) (b) Post the closing entries to Income Summary. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary June 30 June 30 June 30 June 30 https://edugen.wiley.com/edugen/shared/assignment/test/agprint.uni?titleType=false 5/5