The data needed to determine year-end adjustments are as follows:

a. Supplies on hand at March 31 are $9,500.

b. Insurance premiums expired during year are $1,600.

c. Depreciation of equipment during year is $10,000.

d. Depreciation of trucks during year is $5,000.

e. Wages accrued but not paid at March 31 are $1,600

TAREA 6.1 Y 6.2 (B) JORGE MORALES CABRERA 6.1 Tarea Entradas de cierre Instrucciones: 1. Lee, estudia y analiza el captulo 4 (pp. 151-189) del libro Accounting de Warren, Reeve y Duchac, identificado en los recursos requeridos al comienzo del mdulo, y otros recursos pertinentes (recursos opcionales, videos y otros que indique el profesor). Luego realiza los siguientes ejercicios: o PE 4-4A (p. 191) Registro en el diario de las entradas de cierre (Valor 14 puntos) o PE4-4B (p. 191) Registro en el diario de las entradas de cierre (Valor 14 puntos) PE4-5A (p. 191) Registro en el diario de las entradas de cierre (Valor 6 puntos) o o o EX 4-19 (p. 196) Post-closing Trial Balance (Valor 10 puntos) EX 4-20 (p. 197) Pasos en el Ciclo Contable (Valor 10 puntos) PR 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet (work sheet) The unadjusted trial balance of Lakota Freight Co. at March 31, 2014, the end of the current year, is shown below. Lakota Freight Co. Unadjusted Trial Balance March 31, 2014 Debit Balances Credit Balances 11 13 14 16 17 18 19 21 31 32 41 51 53 54 59 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prepaid Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accumulated DepreciationEquipment. . . . . . . . . . . . . . . . . . . . . . . . Trucks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accumulated DepreciationTrucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kaya Tarango, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kaya Tarango, Drawing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Service Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Truck Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000 30,000 3,600 110,000 25,000 60,000 15,000 4,000 96,000 15,000 160,000 45,000 10,600 9,000 4,800 300,000 300,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at March 31 are $9,500. b. Insurance premiums expired during year are $1,600. c. Depreciation of equipment during year is $10,000. d. Depreciation of trucks during year is $5,000. e. Wages accrued but not paid at March 31 are $1,600. Instructions 1. For each account listed in the trial balance, enter the balance in the appropriate Bal- ance column of a four-column account and place a check mark () in the Posting Reference column. 2. (Optional.) Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. Add the accounts listed in part (3) as needed. 3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the adjusting entries on Page 26 of the journal. The following additional ac- counts from Lakota Freight Co.'s chart of accounts should be used: Wages Payable, 22; Supplies Expense, 52; Depreciation ExpenseEquipment, 55; Depreciation Expense Trucks, 56; Insurance Expense, 57. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the closing entries. Record the closing entries on Page 27 of the journal. (Income Summary is account #33 in the chart of accounts.) Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. 7. Prepare a post-closing trial balance. PR 4-4b Ledger accounts, adjusting entries, financial statements, and closing entries; optional end-of-period spreadsheet (work sheet) The unadjusted trial balance of Recessive Interiors at January 31, 2014, the end of the current year, is shown below. Recessive Interiors Unadjusted Trial Balance January 31, 2014 Debit Balances Credit Balances 11 13 14 16 17 18 19 21 31 32 41 51 52 53 59 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prepaid Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accumulated DepreciationEquipment. . . . . . . . . . . . . . . . . . . . . . . . Trucks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accumulated DepreciationTrucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeanne McQuay, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeanne McQuay, Drawing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Service Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Truck Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,100 8,000 7,500 113,000 12,000 90,000 27,100 4,500 126,400 3,000 155,000 72,000 7,600 5,350 5,450 325,000 325,000 The data needed to determine year-end adjustments are as follows: a. Supplies on hand at January 31 are $3,850. b. Insurance premiums expired during the year are $4,250. c. Depreciation of equipment during the year is $6,350. d. Depreciation of trucks during the year is $5,000. e. Wages accrued but not paid at January 31 are $1,900. Instructions 1. For each account listed in the unadjusted trial balance, enter the balance in the ap- propriate Balance column of a four-column account and place a check mark () in the Posting Reference column. 2. (Optional.) Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. Add the accounts listed in part (3) as needed. 3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the adjusting entries on Page 26 of the journal. The following additional ac- counts from Recessive Interiors' chart of accounts should be used: Wages Payable, 22; Depreciation Expense Equipment, 54; Supplies Expense, 55; Depreciation Expense Trucks, 56; Insurance Expense, 57. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the closing entries. Record the closing entries on Page 27 of the journal. (Income Summary is account #33 in the chart of accounts.) Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. 7. Prepare a post-closing trial balance. PR 4-5A Complete accounting cycle For the past several years, Steffy Lopez has operated a part-time consulting business from his home. As of July 1, 2014, Steffy decided to move to rented quarters and to operate the business, which was to be known as Diamond Consulting, on a full-time basis. Diamond Consulting entered into the following transactions during July: July 1. The following assets were received from Steffy Lopez: cash, $14,500; accounts receivable, $30,800; supplies, $6,200; and office equipment, $9,500. There were no liabilities received. 1. Paid two months' rent on a lease rental contract, $5,800. 2. Paid the premiums on property and casualty insurance policies, $4,500. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $5,500. 5. Purchased additional office equipment on account from Office Station Co., $6,500. 6. Received cash from clients on account, $15,300. 10. Paid cash for a newspaper advertisement, $800. 12. Paid Office Station Co. for part of the debt incurred on July 5, $5,200. 12. Recorded services provided on account for the period July 1-12, $14,400. 14. Paid receptionist for two weeks' salary, $1,900. Record the following transactions on Page 2 of the journal. 17. Recorded cash from cash clients for fees earned during the period July 1-17, $9,450. 18. Paid cash for supplies, $700. 20. Recorded services provided on account for the period July 13-20, $6,650. 24. Recorded cash from cash clients for fees earned for the period July 17-24, $4,000. 26. Received cash from clients on account, $12,000. 27. Paid receptionist for two weeks' salary, $1,850. 29. Paid telephone bill for July, $400. 31. Paid electricity bill for July, $600. 31. Recorded cash from cash clients for fees earned for the period July 25-31, $5,200. July 31. Recorded services provided on account for the remainder of July, $3,000. 31. Steffy withdrew $13,500 for personal use. Instructions 11 12 14 15 16 18 19 21 22 23 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees 31 32 41 51 52 53 54 55 59 Steffy Lopez, Capital Steffy Lopez, Drawing Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense 1. Journalize each transaction in a two-column journal starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4. At the end of July, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during July is $475. b. Supplies on hand on July 31 are $1,325. c. Depreciation of office equipment for July is $700. d. Accrued receptionist salary on July 31 is $275. e. Rent expired during July is $3,400. f. Unearned fees on July 31 are $3,750. 5. (Optional.) Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. 6. Journalize and post the adjusting entries. Record the adjusting entries on Page 3 of the journal. 7. Prepare an adjusted trial balance. 8. Prepare an income statement, a statement of owner's equity, and a balance sheet. 9. Prepare and post the closing entries. (Income Summary is account #33 in the chart of accounts.) Record the closing entries on Page 4 of the journal. Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry. 10. Prepare a post-closing trial balance. Ex 4-19 Post-closing trial balance An accountant prepared the following post-closing trial balance: Igloo Treasures Co. Post-Closing Trial Balance January 31, 2014 Debit Balances Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,350 56,700 Credit Balances Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accumulated DepreciationEquipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Salaries Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Unearned Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nicole O'Brien, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,500 74,450 12,400 29,600 3,200 11,000 103,800 234,850 85,150 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. Ex 4-20 Steps in the accounting cycle Rearrange the following steps in the accounting cycle in proper sequence: a. Financial statements are prepared. b. An adjusted trial balance is prepared. c. Adjustment data are asssembled and analyzed. d. Adjusting entries are journalized and posted to the ledger. e. Closing entries are journalized and posted to the ledger. f. An unadjusted trial balance is prepared. g. Transactions are posted to the ledger. h. Transactions are analyzed and recorded in the journal. i. An optional end-of-period spreadsheet (work sheet) is prepared. j. A post-closing trial balance is prepared. 6.2 Tarea Cierre del ciclo y estado de situacin clasificado Instrucciones: PR 4-5A Ciclo Completo de Contabilidad (Valor 100 puntos) P4-5A X Y Z began operations as a private investigator on January 1, 2012. The trial balance columns of the worksheet for XYZ at March 31 are as follows. XYZ. Worksheet For the Quarter Ended March 31, 2012 Trial Balance Account Titles Dr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Travel Expense Rent Expense Miscellaneous Expense 11,400 5,620 1,050 2,400 30,000 Cr. 10,000 12,350 20,000 600 13,620 2,200 1,300 1,200 200 55,970 55,970 Other data: 1. 2. 3. 4. 5. Supplies on hand total $480. Depreciation is $800 per quarter. Interest accrued on 6-month note payable, issued January 1, $300. Insurance expires at the rate of $200 per month. Services provided but unbilled at March 31 total $1,030. Instructions (a) Enter the trial balance on a worksheet and complete the worksheet. (b) Prepare an income statement and owner's equity statement for the quarter and a classified balance sheet at March 31. XYZ did not make any additional investments in the business during the quarter ended March 31, 2012. (c) Journalize the adjusting entries from the adjustments columns of the worksheet. (d) Prepare a post-closing trial balance (e) Journalize the closing entries from the financial statement columns of the worksheet