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Ch4 CP 1

Name:
Course:
Date:
Chapter 4, Comprehensive Problem
General Journal Page 5
Post.
Date Description Ref. Debit Credit
1. Reversing entries:
2011
Aug. 1
1
2. Entries:
Aug. 1
2
7
8
12
13
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 2

Chapter 4, Comprehensive Problem (Continued)
General Journal Page 6
Post.
Date Description Ref. Debit Credit
2011
Aug. 15
16
19
20
21
22
23
26
30
&C&"Arial,Bold"&12&A &"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 3

Chapter 4, Comprehensive Problem (Continued)
1. Reversing entries prepared and posted
3. Transactions for August journalized and posted
7 and 8. Adjusting and closing entries prepared and posted
General Ledger
Cash Account No. 111
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 2,800 22,480
Aug. 1
2
7
12
13
15
16
19
21
22
23
26
30
Accounts Receivable Account No. 113
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 400 5,000
Aug. 1
8
16
20
31
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 4

Chapter 4, Comprehensive Problem (Continued)
Office Supplies Account No. 115
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 3,660
Aug. 7
31
Prepaid Rent Account No. 117
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 1,600 1,600
Aug. 26
31
Office Equipment Account No. 146
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 16,320 16,320
Aug. 2
Accumulated Depreciation—Office Equipment Account No. 147
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 300 300
Aug. 31
Accounts Payable Account No. 212
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 6,280
Aug. 12
19
&C&"Arial,Bold"&12&A &"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 5

Chapter 4, Comprehensive Problem (Continued)
Office Equipment Account No. 146
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 16,320 16,320
Aug. 2
Accumulated Depreciation—Office Equipment Account No. 147
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 300 300
Aug. 31
Accounts Payable Account No. 212
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 6,280
Aug. 12
19
Unearned Design Revenue Account No. 213
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 800 600
Aug. 13
31
Wages Payable Account No. 214
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 720 720
Aug. 1
31
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 6

Chapter 4, Comprehensive Problem (Continued)
J. Miller, Capital Account No. 311
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 41,160
Aug. 1
31
31
J. Miller, Withdrawals Account No. 312
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 30
31
Income Summary Account No. 313
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31
31
Design Revenue Account No. 411
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 1
8
15
20
21
31
31
31
&C&"Arial,Bold"&12&A &"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 7

Chapter 4, Comprehensive Problem (Continued)
Wages Expense Account No. 511
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 1
23
31
31
Utilities Expense Account No. 512
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 22
31
Rent Expense Account No. 514
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31
Office Supplies Expense Account No. 517
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31
Depreciation Expense—Office Equipment Account No. 519
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 8

Chapter 4, Comprehensive Problem (Continued) `
4. Trial balance amounts entered on the work sheet
Miller Design Studio
Work Sheet
For the Month Ended August 31, 2011
Adjusted Income Balance
Trial Balance Adjustments Trial Balance Statement Sheet
Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash
Accounts Receivable
Office Supplies
Prepaid Rent
Office Equipment
Accumulated Depreciation—
Office Equipment
Accounts Payable
Unearned Design Revenue
J. Miller, Capital
J. Miller, Withdrawals
Design Revenue
Wages Expense
Utilities Expense
Rent Expense
Depreciation Expense—
Office Equipment
Wages Payable
Office Supplies Expense
Net Income
&C&"Helvetica,Bold"&12&A &"Times New Roman,Regular"&9© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 9

Chapter 4, Comprehensive Problem (Continued)
6. Income statement, statement of owner’s equity, and balance sheet prepared
Miller Design Studio
Income Statement
For the Month Ended August 31, 2011
Revenue
Expenses
Total expenses
Net income
Miller Design Studio
Statement of Owner’s Equity
For the Month Ended August 31, 2011
J. Miller, capital, August 1, 2011
Subtotal
J. Miller, capital, August 31, 2011
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 10

Chapter 4, Comprehensive Problem (Continued)
Miller Design Studio
Balance Sheet
August 31, 2011
Assets
Total assets
Liabilities
Total liabilities
Owner’s Equity
Total owner's equity
Total liabilities and owner's equity
&C&"Arial,Bold"&12&A &"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 11

Chapter 4, Comprehensive Problem (Continued)
Page 7
Post.
Date Description Ref. Debit Credit
Adjusting entries:
2011
Aug. 31
31
– =
31
31
31
31
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 12

Chapter 4, Comprehensive Problem (Continued)
General Journal Page 8
Post.
Date Description Ref. Debit Credit
Closing entries:
2011
Aug. 31
31
31
31
&C&"Arial,Bold"&12&A &"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 13

Chapter 4, Comprehensive Problem (Continued)
9. Post-closing trial balance prepared
Miller Design Studio
Post-Closing Trial Balance
August 31, 2011
&C&"Arial,Bold"&12 &A&"Times New Roman,Regular"&9 © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.