Student Name:

Class:
Problem 04-02A
NOTE: Ledger accounts begin at cell A150, and show all entries that need to be posted.
ADVENTURE TRAVEL
General Journal
Date
Account Titles
Transactions for April (Part 2):
Apr 1 Cash
Computer Equipment
J. Nozomi, Capital
Owner invested in the business.

Acct. No.
101
167
301

2 Rent Expense
Cash
Paid one month's rent

640
101

3 Office Supplies
Cash
Acquired office supplies

124
101

10 Prepaid Insurance
Cash
Paid 12 months' premium in advance.

128
101

14 Salaries Expense
Cash
Paid two weeks' salaries.

622
101

24 Cash
Commissions Earned
Collected commissions from airlines.

101
405

28 Salaries Expense
Cash
Paid two weeks' salaries.

622
101

29 Repairs Expense
Cash
Repaired the computer.

684
101

30 Telephone Expense
Cash
Paid the telephone bill.

688
101

30 J. Nozomi, Withdrawals
Cash
Owner withdrew cash.

302
101

Adjusting Entries (Part 4):

Apr 30 Insurance Expense
Prepaid Insurance
To record expired insurance.
30 Office Supplies Expense
Office Supplies
To record cost of supplies used.

637
128

650
124

Debit

Credit

Student Name:
Class:
Problem 04-02A

30 Depreciation Expense - Computer Equipment

Accumulated Depreciation - Computer Equipment
To record depreciation.

612
168

30 Salaries Expense
Salaries Payable
To record accrued salaries.

622
209

30 Accounts Receivable
Commissions Earned
To record accrued commissions.

106
405

Student Name:
Class:
Problem 04-02A
Closing Entries (Part 6)
Apr 30 Commissions Earned
Income Summary
To close the revenue account.

405
901

30 Income Summary
Depreciation Expense, Computer Equipment
Salaries Expense
Insurance Expense
Rent Expense
Office Supplies Expense
Repairs Expense
Telephone Expense
To close the expense accounts.

901
612
622
637
640
650
684
688

30 Income Summary
J. Nozomi, Capital
To close the Income Summary account.

901
301

30 J. Nozomi, Capital
J. Nozomi, Withdrawals
To close the withdrawals account.

301
302

ADVENTURE TRAVEL
Unadjusted Trial Balance
April 30, 2013
Account Titles
Cash
Accounts receivable
Office supplies
Prepaid insurance
Computer equipment
Accumulated depreciation - computer equipment
Salaries payable
J. Nozomi, Capital
J. Nozomi, Withdrawals
Commissions earned
Depreciation expense - computer equipment
Salaries expense
Insurance expense
Rent expense
Office supplies expense
Repairs expense
Telephone expense
Totals

Debits

Credits

Debits

Credits

ADVENTURE TRAVEL
Adjusted Trial Balance
April 30, 2013
Account Titles
Cash
Accounts receivable

Student Name:
Class:
Problem 04-02A
Office supplies
Prepaid insurance
Computer equipment
Accumulated depreciation - computer equipment
Salaries payable
J. Nozomi, Capital
J. Nozomi, Withdrawals
Commissions earned
Depreciation expense - computer equipment
Salaries expense
Insurance expense
Rent expense
Office supplies expense
Repairs expense
Telephone expense
Totals

Student Name:
Class:
Problem 04-02A
ADVENTURE TRAVEL
Income Statement
For Month Ended April 30, 2013
Commissions earned
Expenses:
Depreciation expense, computer equipment
Salaries expense
Insurance expense
Rent expense
Office supplies expense
Repairs expense
Telephone expense
Total expenses
Net income

ADVENTURE TRAVEL
Statement of Owner's Equity
For Month Ended April 30, 2013
J. Nozomi, Capital, April 1, 2013
Plus: Investment by owner
Net income
Total
Less withdrawals
J. Nozomi, Capital, April 30, 2013

ADVENTURE TRAVEL
Balance Sheet
April 30, 2013
Assets
Cash
Accounts receivable
Office supplies
Prepaid insurance
Computer equipment
Accumulated depreciation - computer equipment
Total assets
Liabilities
Salaries payable
Owner's Equity
J. Nozomi, Capital
Total liabilities and equity

ADVENTURE TRAVEL
Post-Closing Trial Balance
April 30, 2013
Account Titles
Cash

Debits

Credits

Student Name:
Class:
Problem 04-02A
Accounts receivable
Office supplies
Prepaid insurance
Computer equipment
Accumulated depreciation, computer equipment
Salaries payable
J. Nozomi, Capital
Totals

Student Name:
Class:
Problem 04-02A
ADVENTURE TRAVEL
General Ledger
Cash

Account No.

Date

Explanation

PR

Debit

Credit

Apr 1
2
3
10
14
24
28
29
30
30
Accounts Receivable
Date

Explanation
Apr 30 Adjusting

Account No.
PR

Debit

Office Supplies
Date

Account No.
Explanation

Apr 3
30

PR

Debit

Account No.

Explanation
Apr 10
30

PR

Debit

Credit

Adjusting

Computer Equipment
Date

Credit

Adjusting

Prepaid Insurance
Date

Credit

Explanation

Account No.
PR

Debit

Credit

Apr 1
Accumulated Depreciation,
Computer Equipment
Date
Apr 30

Explanation
Adjusting

Account No.
PR

Debit

Salaries Payable
Date

Account No.

Explanation
Apr 30
Adjusting

PR

Debit

J. Nozomi, Capital
Date

Credit

Account No.

Explanation
Apr 1
30
30

Credit

Closing
Closing

PR

Debit

Credit

Student Name:
Class:
Problem 04-02A

J. Nozomi, Withdrawals
Date

Explanation
Apr 30
30

Closing

Account No.
PR

Debit

Credit

Student Name:
Class:
Problem 04-02A
Commissions Earned
Date

Explanation
Apr 24
30
30

Account No.
PR

Debit

Adjusting
Closing

Depreciation Expense,
Computer equipment
Date
Apr 30
30

Explanation
Adjusting
Closing

Account No.
PR

Debit

Salaries Expense
Date

PR

Debit

Explanation
Apr 30
Adjusting
30
Closing

Account No.
PR

Debit

Rent Expense
Explanation

PR

Debit

Explanation
Apr 30
30

Account No.
PR

Debit

Account No.

Explanation
Apr 29
30

PR

Debit

Credit

Closing

Telephone Expense
Explanation
Apr 30
30

Account No.
PR

Debit

Credit

Closing

Income Summary
Date

Credit

Closing

Repairs Expense

Date

Credit

Closing

Office Supplies Expense

Date

Credit

Account No.

Apr 2
30

Date

Credit

Adjusting
Closing

Insurance Expense

Date

Credit

Account No.

Explanation
Apr 14
28
30
30

Date

Credit

Explanation

Account No.
PR

Debit

Credit

Student Name:
Class:
Problem 04-02A
Apr 30
30
30

Closing
Closing
Closing

TRAVEL
edger
101
Balance

106
Balance

124
Balance

128
Balance

167
Balance

168
Balance

209
Balance

301
Balance

302
Balance

405
Balance

612
Balance

622
Balance

637
Balance

640
Balance

650
Balance

684
Balance

688
Balance

901
Balance

Given Data P04-02A:

ADVENTURE TRAVEL
Apr 1 Nozomi invested cash
1 Nozomi invested computer equipment
2 Paid first month's rent
3 Purchased office supplies for cash
10 Paid annual insurance premium
14 Paid salaries
24 Collected commissions earned
28 Paid salaries
29 Paid for computer repair
30 Paid telephone bill
30 Nozomi withdrew cash for personal use

30,000
20,000
1,800
1,000
2,400
1,600
8,000
1,600
350
750
1,500

600
500
420
1,750

$
$
$
$
$
$

58,000
133
2,197
50,697
51,117
51,617

Chart of Accounts
101 Cash
106 Accounts Receivable
124 Office Supplies
128 Prepaid Insurance
167 Computer Equipment
168 Accumulated Depreciation - Computer Equipment
209 Salaries Payable
301 J. Nozomi, Capital
302 J. Nozomi, Withdrawals
405 Commissions Earned
612 Depreciation - Computer Equipment
622 Salaries Expense
637 Insurance Expense
640 Rent Expense
650 Office Supplies Expense
684 Repairs Expense
688 Telephone Expense
901 Income Summary
Additional Information:
Apr 30 2/3 of a month's insurance expired
Office supplies on hand
Depreciation on computer
Unpaid and unrecorded salaries
Commissions earned but not billed
Check figures:
(3) Unadjusted trial balance totals
(4a) Debit Insurance Expense
(5) Net income
J. Nozomi, Capital (4/30/2013)
Total assets
(7) Post-closing trial balance totals

Student Name:
Class:
Problem 04-04A
KARISE REPAIRS
Income Statement
For the Year Ended December 31, 2013
Repair fees earned
Expenses:
Depreciation expense - Equipment
Wages expense
Insurance expense
Rent expense
Office supplies expense
Utilities expense
Total expenses
Net income

KARISE REPAIRS
Statement of Owner's Equity
For Year Ended December 31, 2013
C. Karise, Capital, January 1, 2013
Add: Net income
Less: Withdrawals
C. Karise, Capital, December 31, 2013

KARISE REPAIRS
Balance Sheet
December 31, 2013
Assets
Current assets
Cash
Office supplies
Prepaid insurance
Total current assets

Student Name:
Class:
Problem 04-04A
Plant assets
Equipment
Accumulated depreciation - Equipment
Total assets
Liabilities
Current liabilities
Accounts payable
Wages payable
Total current liabilities
Equity
C. Karise, Capital
Total liabilities and equity

KARISE REPAIRS
Work Sheet
For Year Ended December 31, 2013

No.
101
124
128
167
168
201
210
301
302
401
612
623
637
640
650

Account Title
Cash
Office supplies
Prepaid insurance
Equipment
Accumulated depreciation - Equipment
Accounts payable
Wages payable
C. Karise, Capital
C. Karise, Withdrawals
Repair fees earned
Depreciation expense - Equipment
Wages expense
Insurance expense
Rent expense
Office supplies expense

Adjusted
Trial Balance
Debit
Credit

(Jnl.)

Closing Entry Information

Debit
(Jnl.)

Credit

Post-Closing
Trial Balance
Debit

Student Name:
Class:
Problem 04-04A
690 Utilities expense
901 Income summary
Totals

Student Name:
Class:
Problem 04-04A
KARISE REPAIRS
General Journal
Debit

(1)

Credit

Dec. 31, 2013

Closing entries:
Repair Fees Earned
Income Summary
To close the revenue account.

(2)

Income Summary
Depreciation Expense - Equipment
Wages Expense
Insurance Expense
Rent Expense
Office Supplies Expense
Utilities Expense
To close the expense accounts.

(3)

Income Summary
C. Karise, Capital
To close the Income Summary account.

(4)

C. Karise, Capital
C. Karise, Withdrawals
To close the withdrawals account.

Part 4: Assume for this part only:

(a) None of the $800 insurance expense had expired during the year. Instead, assume it is a prepayment of the
next period's insurance protection.
(b) There are no earned and unpaid wages at the end of the year.
Describe the financial statement changes that would result from these two assumptions.

Student Name:
Class:
Problem 04-04A

RISE REPAIRS
Work Sheet
ded December 31, 2013
Post-Closing
Trial Balance
Credit

Given Data P04-04A:

KARISE REPAIRS
Adjusted Trial Balance
December 31, 2013
101 Cash
124 Office supplies
128 Prepaid insurance
167 Equipment
168 Accumulated depreciation - Equipment
201 Accounts payable
210 Wages payable
301 C. Karise, Capital
302 C. Karise, Withdrawals
401 Repair fees earned
612 Depreciation expense-Equipment
623 Wages expense
637 Insurance expense
640 Rent expense
650 Office supplies expense
690 Utilities expense
Totals
Check figures:
(1) Ending capital balance
Net Income
(2) Post-closing trial balance totals

14,000
1,300
2,050
50,000
$

5,000
14,000
600
33,000

16,000
90,950

$
$
$

5,000
37,500
800
10,600
3,600
2,700
143,550 $

47,750
30,750
67,350

143,550