Problem 4-02A a-e The adjusted trial balance columns of the worksheet for Nguyen Company, owned by C. Nguyen, are as follows. Nguyen Company Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,300 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 157 Equipment 27,000 158 Accumulated DepreciationEquipment 5,600 200 Notes Payable 15,000 201 Accounts Payable 6,100 212 Salaries and Wages Payable 3,600 230 Interest Payable 600 301 Owners Capital 13,000 306 Owners Drawings 7,600 400 Service Revenue 61,000 610 Advertising Expense 9,000 631 Supplies Expense 4,000 711 Depreciation Expense 5,600 722 Insurance Expense 3,500 726 Salaries and Wages Expense 28,000 905 Interest Expense 600 Totals 104,900 104,900 Partially correct answer. Your answer is partially correct. Try again. Complete the worksheet by extending the balances to the financial statement columns. NGUYEN COMPANY Partial Worksheet Entry field with incorrect answer now contains modified data Adjusted Trial Balance Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash 5,300 Entry field with correct answer Entry field with correct answer Entry field with correct answer 5300 Entry field with correct answer 112 Accounts Receivable 10,800 Entry field with correct answer Entry field with correct answer Entry field with correct answer 10800 Entry field with correct answer 126 Supplies 1,500 Entry field with correct answer Entry field with correct answer Entry field with correct answer 1500 Entry field with correct answer 130 Prepaid Insurance 2,000 Entry field with correct answer Entry field with correct answer Entry field with correct answer 2000 Entry field with correct answer 157 Equipment 27,000 Entry field with correct answer Entry field with correct answer Entry field with incorrect answer 27500 Entry field with correct answer 158 Accumulated Depreciation - Equipment 5,600 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 5600 200 Notes Payable 15,000 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 15000 201 Accounts Payable 6,100 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 6100 212 Salaries and Wages Payable 3,600 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 3600 230 Interest Payable 600 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 600 301 Owner's Capital 13,000 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with incorrect answer 1300 306 Owner's Drawings 7,600 Entry field with correct answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer -7600 400 Service Revenue 61,000 Entry field with correct answer Entry field with correct answer 61000 Entry field with correct answer Entry field with correct answer 610 Advertising Expense 9,000 Entry field with correct answer 9000 Entry field with correct answer Entry field with correct answer Entry field with correct answer 631 Supplies Expense 4,000 Entry field with correct answer 4000 Entry field with correct answer Entry field with correct answer Entry field with correct answer 711 Depreciation Expense 5,600 Entry field with correct answer 5600 Entry field with correct answer Entry field with correct answer Entry field with correct answer 722 Insurance Expense 3,500 Entry field with correct answer 3500 Entry field with correct answer Entry field with correct answer Entry field with correct answer 726 Salaries and Wages Expense 28,000 Entry field with correct answer 28000 Entry field with correct answer Entry field with correct answer Entry field with correct answer 905 Interest Expense 600 Entry field with correct answer 600 Entry field with correct answer Entry field with correct answer Entry field with correct answer Totals 104,900 104,900 Entry field with correct answer 50700 Entry field with correct answer 61000 Entry field with incorrect answer 47100 Entry field with incorrect answer 24000 Net Income Entry field with correct answer 10300 Entry field with correct answer Entry field with correct answer Entry field with incorrect answer 23100 Totals Entry field with correct answer 61000 Entry field with correct answer 61000 Entry field with incorrect answer 47100 Entry field with incorrect answer 47100 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Partially correct answer. Your answer is partially correct. Try again. Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) NGUYEN COMPANY Income Statement Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with incorrect answer now contains modified data Service Revenue $Entry field with correct answer 61000 Entry field with correct answer Entry field with correct answer Salaries and Wages Expense $Entry field with correct answer 28000 Entry field with correct answer Supplies Expense Entry field with correct answer 4000 Entry field with correct answer Depreciation Expense Entry field with correct answer 5600 Entry field with correct answer Advertising Expense Entry field with correct answer 9000 Entry field with correct answer Insurance Expense Entry field with correct answer 3500 Entry field with correct answer Interest Expense Entry field with correct answer 600 Entry field with correct answer Entry field with correct answer 50700 Entry field with correct answer $Entry field with correct answer 10300 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Partially correct answer. Your answer is partially correct. Try again. Prepare an owners equity statement. C. Nguyen did not make any additional investments in the business during 2021. (List items that increase owner's equity first.) NGUYEN COMPANY Owners Equity Statement Entry field with incorrect answer now contains modified data Entry field with correct answer $Entry field with correct answer 13000 Entry field with correct answer: Entry field with correct answer Entry field with correct answer 10300 Entry field with incorrect answer now contains modified data Entry field with correct answer: Entry field with correct answer Entry field with incorrect answer 7300 Entry field with correct answer $Entry field with incorrect answer 20300 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Partially correct answer. Your answer is partially correct. Try again. Prepare a classified balance sheet. $4,000 of the notes payable become due in 2021. (List Current Assets in order of liquidity.) NGUYEN COMPANY Balance Sheet Entry field with correct answer Assets Entry field with correct answer Entry field with correct answer Cash $Entry field with correct answer 5300 Entry field with correct answer Accounts Receivable Entry field with correct answer 10800 Entry field with correct answer Supplies Entry field with correct answer 1500 Entry field with correct answer Prepaid Insurance Entry field with correct answer 2000 Entry field with correct answer $Entry field with correct answer 19600 Entry field with correct answer Entry field with correct answer Equipment Entry field with correct answer 27000 Entry field with correct answer: Entry field with correct answer Accumulated Depreciation-Equipment Entry field with correct answer 5600 Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer 21400 Liabilities and Owners Equity Entry field with correct answer Entry field with correct answer Accounts Payable $Entry field with correct answer 6100 Entry field with correct answer Notes Payable Entry field with incorrect answer 15000 Entry field with correct answer Salaries and Wages Payable Entry field with correct answer 3600 Entry field with correct answer Interest Payable Entry field with correct answer 600 Entry field with correct answer $Entry field with incorrect answer 25300 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer 2 Entry field with incorrect answer Entry field with correct answer Owner's Capital Entry field with incorrect answer Entry field with correct answer $Entry field with incorrect answer SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To close revenue account) Dec. 31 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To close expense accounts) Dec. 31 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To close net income / (loss)) Dec. 31 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To close drawings) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Post the closing entries. (Post entries in the order of journal entries presented in the previous part.) Owners Capital No. 301 Date Explanation Ref. Debit Credit Balance Jan. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer now contains modified data 12900 Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer now contains modified data 13900 Entry field with incorrect answer now contains modified data 26800 Dec. 31 Closing entry J14 Entry field with incorrect answer now contains modified data 6500 Entry field with incorrect answer Entry field with incorrect answer now contains modified data 20300 Owners Drawings No. 306 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer now contains modified data 6500 Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer now contains modified data 6500 Entry field with incorrect answer now contains modified data 0 Income Summary No. 350 Date Explanation Ref. Debit Credit Balance Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer now contains modified data 63300 Entry field with incorrect answer now contains modified data 63300 Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Advertising Expense No. 610 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Supplies Expense No. 631 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Depreciation Expense No. 711 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Insurance Expense No. 722 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Salaries and Wages Expense No. 726 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Interest Expense No. 905 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Dec. 31 Closing entry J14 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Prepare a post-closing trial balance. NGUYEN COMPANY Post-Closing Trial Balance Entry field with incorrect answer Debit Credit Entry field with incorrect answer $Entry field with incorrect answer $Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Totals $Entry field with incorrect answer $Entry field with incorrect answer