Ch 4 Assignment - Due- ACG2001 PRINC ACCT

profileshendo1
ch4v1.1.xlsx
Home>Business & Finance homework help>Accounting homework help>Ch 4 Assignment - Due- ACG2001 PRINC ACCT

Sheet1

Chapter 4 Assignment
Name:
Instructions
Using Microsoft Excel complete the following:
A. Prepare the necessary closing entries as of December 31, 2011
B. Post the closing entries to the selected ledger accounts.
C. Prepare a Post Closing Trial Balance.
Hints: Only enter infromation in the cells with grey backgrounds.
In the general ledger and trail balance you will need to leave some grey cells blank.
Information
Below is the adjusted trial balance for Computer Services as of December 31, 2011.
Adjusted
Trial Balance
Dr. Cr.
Cash 8,405
Accounts Receivable 5,147
Supplies 2,575
Prepaid Insurance 1,580
Equipment 6,000
Accumulated Depreciation - Equip 600
Accounts Payable 3,489
Salaries Payable 1,155
Unearned Rent Revenue 575
Jack Smith, Capital 10,000
Jack Smith, Drawing 4,500
Service Revenue 33,017
Rental Revenue 1,050
Depreciation Expense 600
Insurance Expense 680
Rent Expense 3,500
Salaries Expense 12,854
Supplies Expense 2,587
Utilities Expense 1,458
Totals 49,886 49,886
A. General Journal
ACCOUNT DEBIT CREDIT
B. General Ledger
Income Summary Jack Smith, Capital
7-1 10,000
Bal. Bal.
C. Computer Services
Post Closing Trail Balance
December 31, 2011
Debit Credit
Totals

Sheet2

Sheet3