Trial Balance Megaffin's Repairs Work Sheet For Month Ended January 31, 20-- Adjustments Adjusted Trial Balance Income Balance Sheet Required: 1. Journalize (page 10) and post the adjusting entries. 2. Journalize (page 11) and post the closing entries. GENERAL JOURNAL Depreciation Expense-Delivery Miscellaneous Expe 55 ACCOUNT Delivery Equipment 37 ACCOUNT NO. BALANCE 185 ACCOUNT Don Megaffin, Drawing ACCOUNT NO. BALANCE 312 ACCOUNT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT PAGE 10 Jan. 31 Income Summa 838 20-- 20-- POST. REF. Don Megaffin, Cap 838 Jan. 31 Balance 3,200.00 Jan. 31 Balance 1,200.00 DEBIT CREDIT Jan. 31 Closing J11 Statement DATE DESCRIPTION Account Title Debit Credit Debit Credit Cash 3,700.00 Debit 3,700.00 Credit Debit Credit Debit Credit Adjusting Entries 3,700.00 20-- Accounts Receivable 1,460.00 1,460.00 1,460.00 Jan. Supplies Expen 290 31 Supplies 500.00 290.00 210.00 Prepaid Insurance 900.00 Delivery Equipment 3,200.00 Accumulated 220.00 680.00 3,200.00 210.00 680.00 3,200.00 Supplies Jan. Insurance Exper 220 31 60.00 Prepaid Insuran Depreciation 60.00 60.00 Delivery Equipment Accounts Payable 1,210.00 1,210.00 Wages Payable 400.00 400.00 7,963.00 7,963.00 Don Megaffin, Capital Don Megaffin, Drawing Repair Fees 1,200.00 1,200.00 1,200.00 5,000.00 5,000.00 5,000.00 Wages Expense 2,170.00 400.00 2,570.00 2,570.00 Advertising 1,210.00 Jan. 400.00 Wages Expens 31 7,963.00 Wages Payabl Jan. Depreciation Expense-Delivery 31 Accumulated Depreciation-Delivery Rent Expense ACCOUNT NO. 521 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT 20-- Jan. 31 Jan. 31 Balance Closing 650.00 J11 ACCOUNTDepreciation Expense-Delivery Equipment ACCOUNT NO. 541 BALANCE CREDIT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Jan. 31 Adjusting Closing J10 Jan. 31 Don Megaffin, Cap 400 60 Don Megaffin, Dra 1,100 1,100 Accumulated Depreciation-Delivery ACCOUNT Equipment ACCOUNT NO. 185.1 ACCOUNT Income Summary BALANCE ACCOUNT NO. BALANCE 313 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 290 ACCOUNT GENERAL LEDGER 20-- 20-- Cash ACCOUNT NO. BALANCE 101 Jan. 31 Adjusting J10 Jan. 31 Closing J11 Jan. 31 DATE ITEM POST. REF. DEBIT CREDIT DEBIT Closing J11 CREDIT 220 20-- Jan. 31 Closing J11 ACCOUNT Accounts Payable Jan. 31 Balance 3,700.00 ACCOUNT NO. BALANCE 202 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT ACCOUNT Repair Fees 20-- 400 ACCOUNT Accounts Receivable ACCOUNT NO. 122 Jan. 31 Balance BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNT Wages Payable 60 Jan. 31 Balance 1,460.00 ACCOUNT Supplies Expense ACCOUNT NO. BALANCE 523 ACCOUNT Miscellaneous Expense ACCOUNT NO. BALANCE 549 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Jan. 31 Jan. 31 20-- Adjusting Closing J10 Jan. 31 Balance 38.00 Jan. 31 Closing J11 3. Prepare a post-closing trial balance. ACCOUNT Phone Expense ACCOUNT NO. BALANCE 401 ACCOUNT NO. BALANCE 525 Megaffin's Repairs Post-Closing Trial Balance January 31, 20-- Account Acct. No. Debit Balance Credit Balance DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1,210.00 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Cash 101 3,67: 20-- 20-- Jan. 31 ACCOUNT NO. BALANCE 219 Jan. 31 Balance Closing 5,000.00 Jan. 31 Jan. 31 Balance 55.00 Accounts Receivable Supplies 122 1,450 141 400 Closing J11 Prepaid Insurance 145 670 J11 Delivery Equipment 185 3,200 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Accumulated Depreciation-Delivery Equipment 185.1 55 |20-- ACCOUNT Supplies ACCOUNT NO. 141 Jan. 31 Adjusting J10 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- 5,000 ACCOUNT Don Megaffin, Capital Jan. 31 Balance 500.00 5,000 Jan. 31 Adjusting J10 ACCOUNT ACCOUNT NO. 511 BALANCE ACCOUNT NO. 535 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- 20-- ACCOUNT NO. BALANCE 311 Jan. 31 Adjusting J10 Jan. 31 Jan. 31 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Jan. 31 Balance Adjusting Closing Jan. 31 Closing J10 20-- Jan. 31 Balance 7,963.00 Prepaid Insurance ACCOUNT NO. 145 Jan. 31 Closing BALANCE Jan. 31 Closing J11 J11 POST. REF. DEBIT CREDIT DEBIT CREDIT ACCOUNT Gas and Oil Expense ACCOUNT NO. BALANCE 538 ACCOUNT NO. 512 DATE ITEM DEBIT POST. REF. CREDIT DEBIT CREDIT BALANCE 20-- DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Jan. 31. Balance 200.00 900.00 20-- ACCOUNT Don Megaffin, Drawing ACCOUNT NO. 312 Jan. 31 Closing J11 Jan. 31 Balance 100.00 BALANCE Jan. 31 Closing J11 DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNTDepreciation Expense-Delivery Equipment ACCOUNT NO. 541 ACCOUNT Delivery Equipment ACCOUNT NO. 185 ACCOUNT Advertising Expense Insurance Expense ACCOUNT Wages Expense Accounts Payable 202 1,200 Wages Payable 219 400 Don Megaffin, Capital 311 7,73: 9,39: 9,39 2,170.00 100.00 100.00 100.00 Expense Rent Expense 650.00 650.00 650.00 Supplies Expense 290.00 290.00 290.00 20-- Phone Expense 55.00 Insurance Expense 220.00 55.00 220.00 55.00 Jan. 31 Repair Fees 220.00 Income Summa Gas and Oil 200.00 200.00 200.00 Expense Depreciation Expense-Delivery 60.00 60.00 60.00 Equipment Miscellaneous Expense 38.00 38.00 38.00 GENERAL JOURNAL PAGE 11 DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries Jan. 31 Income Summa 3,862 Wages Expens 2,150 ACCOUNT Advertising Expe 200 Rent Expens 640 DATE ITEM Supplies Expen 300 20-- 14,173.00 14,173.00 970.00 970.00 14,633.00 14,633.00 4,183.00 5,000.00 10,450.00 9,633.00 Phone Expens 50 Jan. 31 Balance Net Income 817.00 817.00 Jan. 31 Insurance Exper 230 5,000.00 5,000.00 10,450.00 10,450.00 Gas and Oil Expe 200 Depreciation Expense-Delivery 55