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    A 4

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    Thùy Nguyễn
    This document contains a trial balance worksheet for adjustments made between the trial balance and adjusted trial balance. It shows account titles, debits, credits, and adjusted balances. It then provides income statements, balance sheets, and closing entries for the Hercules Company. The closing entries include transferring revenue and expense accounts to an income summary account and then to the owner's capital account. The post-closing trial balance shows ending balances for cash, accounts receivable, equipment, accumulated depreciation, accounts payable, unearned rent revenue, and owner's capital.

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    A 4

    Uploaded by

    Thùy Nguyễn
    38 views5 pages
    This document contains a trial balance worksheet for adjustments made between the trial balance and adjusted trial balance. It shows account titles, debits, credits, and adjusted balances. It then provides income statements, balance sheets, and closing entries for the Hercules Company. The closing entries include transferring revenue and expense accounts to an income summary account and then to the owner's capital account. The post-closing trial balance shows ending balances for cash, accounts receivable, equipment, accumulated depreciation, accounts payable, unearned rent revenue, and owner's capital.

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    This document contains a trial balance worksheet for adjustments made between the trial balance and adjusted trial balance. It shows account titles, debits, credits, and adjusted balances. It then provides income statements, balance sheets, and closing entries for the Hercules Company. The closing entries include transferring revenue and expense accounts to an income summary account and then to the owner's capital account. The post-closing trial balance shows ending balances for cash, accounts receivable, equipment, accumulated depreciation, accounts payable, unearned rent revenue, and owner's capital.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    38 views5 pages

    A 4

    Uploaded by

    Thùy Nguyễn
    This document contains a trial balance worksheet for adjustments made between the trial balance and adjusted trial balance. It shows account titles, debits, credits, and adjusted balances. It then provides income statements, balance sheets, and closing entries for the Hercules Company. The closing entries include transferring revenue and expense accounts to an income summary account and then to the owner's capital account. The post-closing trial balance shows ending balances for cash, accounts receivable, equipment, accumulated depreciation, accounts payable, unearned rent revenue, and owner's capital.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Worksheet

    Trial balance Adjustments Adjusted Trial Balance


    Account titles Dr. Cr. Dr. Cr. Dr. Cr.
    Cash 15,200 15,200
    Supplies 2,500 1,500 1,000
    Prepaid Insurance 600 50 550
    Equipment 5,000 5,000
    Notes Payable 5,000 5,000
    Accounts Payable 2,500 2,500
    Unearned Revenue 1,200 400 800
    Owner's Capital 10,000 10,000
    Owner's Drawings 500 500
    Service Revenue 10,000 600 10,600
    Salaries and Wages Exp. 4,000 1,200 5,200
    Rent Exp. 900 900
    Totals 28,700 28,700

    Supplies Expense 1,500 1,500


    Insurance Expense 50 50
    Depreciation Expense 40 40
    Accounts Receivable 200 200
    Interest Expense 50 50
    Accumulated Depreciation - Equipment 40 40
    Interest Payable 50 50
    Salaries and Wages Payable 1,200 1,200

    3,440 3,440 30,190 30,190


    Income Statement Balance Sheet
    Dr. Cr. Dr. Cr.
    15,200
    1,000
    550
    5,000
    5,000
    2,500
    800
    10,000
    500
    10,600
    5,200
    900

    1,500
    50
    40
    200
    50
    40
    50
    1,200

    7,740 10,600 22,450 19,590

    2,860 2,860
    10,600 10,600 22,450 22,450
    DO IT! 2 DO IT! 3
    Owner's Capital Cash 200
    Service Revenue 200
    Account Receivable 3000
    Service Revenue 3000
    Account Receivable 2800
    Service Revenue 2800
    1
    Date Account Titles & Explanation Ref. Debit Credit
    Closing Entries
    Service Revenue 404 42,400
    Rent Revenue 429 6,100
    Income Summary 350 48,500

    Income Summary 350 49,900


    Depreciation Expense 711 2,700
    Salaries and Wages Expense 720 37,100
    Utilities Expense 732 10,100

    Owner's Capital 301 1,400


    Income Summary 350 1,400

    Owner's Capital 301 12,000


    Owner's Drawings 306 12,000

    Owner's Capital No.301


    Date Explanation Ref. Debit Credit Balance
    Aug. 31 31,700
    31 J15 1,400 30,300
    31 J15 12,000 18,300

    Income Summary No.350


    Date Explanation Ref. Debit Credit Balance
    Aug. 31 J15 48,500 48,500
    31 J15 49,900 -1,400
    31 J15 1,400 0

    Hercules Company
    Post-Closing Trial Balance
    31-Aug-17
    Debit Credit
    Cash 10,900
    Accounts Receivable 6,200
    Equipment 10,600
    Accumulated Depr. - Equip. 5,400
    Accounts Payable 2,800
    Unearned Rent Revenue 1,200
    Owner's Capital 18,300
    27,700 27,700
    Yusuf Company
    Balance Sheet
    31-Dec-17
    Assets

    Current Assest
    Cash
    Account Receivable
    Long-term Investments
    Owner's Capital
    Property, Plant, Equipm

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