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Microsoft Office and Microsoft Excel are products of, and copyrighted by,
Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399
sistent presentation.
Name:
Date:
Instructor:
Course:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
E4-2, Complete the worksheet.
The adjusted trial balance columns of the worksheet for Pisa Company are as follows.
PISA COMPANY
Work Sheet (Partial)
For the Month Ended April 30, 2012
Adjusted T/B
Income Statement
Balance Sheet
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
10,000
Accounts Receivable
7,840
Prepaid Rent
2,280
Equipment
23,050
Accum. Depreciation-Equipment
4,921
Notes Payable
5,700
Accounts Payable
4,920
Owner's Capital
27,960
Owner's Drawings
3,650
Service Revenue
15,590
Salaries and Wages Expense
10,840
Rent Expense
760
Depreciation Expense
671
Interest Expense
57
Interest Payable
57
Totals
59,148
59,148
Formula Formula Formula Formula
Net income
Formula Formula Formula Formula
Totals
Formula Formula Formula Formula
Instructions:
E4-2 Instructions: Complete the worksheet, above.
E4-3 Instructions: Prepare an income statement, an owner's equity statement, and a classified balance
sheet.
PISA COMPANY
Income Statement
For the Month Ended April 30, 2012
Revenues
Account title
Amount
Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total expenses
Formula
Title
Formula
Name:
Date:
Instructor:
Course:
COMPANY
Accounting Principles, Tenth EditionPISA
by Weygandt,
Kieso, and Kimmel
Owners Equity Statement
For the Month Ended April 30, 2012
Title
Title
Formula
Amount
Formula
Amount
Formula
Title
Title
PISA COMPANY
Balance Sheet
April 30, 2012
Assets
Current assets
Account title
Account title
Account title
Total current assets
Property, plant, and equipment
Account title
Less: Title
Total assets
Amount
Amount
Amount
Amount
Amount
Amount
Formula
Formula
Formula
Amount
Formula
(2)
(3)
(4)
Apr. 30
30
30
30
Account title
Account title
Amount
Account title
Account title
Account title
Account title
Account title
Formula
Account title
Account title
Amount
Account title
Account title
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Name:
Date:
Instructor:
Course:
E4-4
Instructions:
(b) Post the
closing
entries
to Income Summary
Owners Capital. Use T
Accounting
Principles
, Tenth
Edition
by Weygandt,
Kieso, andand
Kimmel
accounts.
Account title
Amount
Amount
Formula
Amount
Owner's Capital
Amount
Bal.
Formula
Bal.
Amount
Amount
Formula
Credit
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Formula
Formula
Name: Solution
Date:
Instructor:
Course:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
E4-2, Complete the worksheet.
The adjusted trial balance columns of the worksheet for Pisa Company are as follows.
PISA COMPANY
Work Sheet (Partial)
For the Month Ended April 30, 2012
Adjusted T/B
Income Statement
Balance Sheet
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
10,000
10,000
Accounts Receivable
7,840
7,840
Prepaid Rent
2,280
2,280
Equipment
23,050
23,050
Accum. Depreciation-Equipment
4,921
4,921
Notes Payable
5,700
5,700
Accounts Payable
4,920
4,920
Owner's Capital
27,960
27,960
Owner's Drawings
3,650
3,650
Service Revenue
15,590
15,590
Salaries and Wages Expense
10,840
10,840
Rent Expense
760
760
Depreciation Expense
671
671
Interest Expense
57
57
Interest Payable
57
57
Totals
59,148
59,148
12,328
15,590
46,820
43,558
Net income
3,262
3,262
Totals
15,590
15,590
46,820
46,820
Instructions:
E4-2 Instructions: Complete the worksheet, above.
E4-3 Instructions: Prepare an income statement, an owner's equity statement, and a classified balance
sheet.
PISA COMPANY
Income Statement
For the Month Ended April 30, 2012
Revenues
Service Revenue
$15,590
Expenses
Salaries and Wages Expense
$10,840
Rent Expense
760
Depreciation Expense
671
Interest Expense
57
Total expenses
12,328
Net income
$3,262
Name: Solution
Date:
Instructor:
Course:
COMPANY
Accounting Principles, Tenth EditionPISA
by Weygandt,
Kieso, and Kimmel
Owners Equity Statement
For the Month Ended April 30, 2012
Owner's Capital, April 1
$27,960
Add: Net income
3,262
31,222
Less: Drawings
3,650
Owner's Capital, April 30
$27,572
PISA COMPANY
Balance Sheet
April 30, 2012
Assets
Current assets
Cash
Accounts receivable
Prepaid rent
Total current assets
Property, plant, and equipment
Equipment
Less: Accum deprec-Equip
Total assets
$10,000
7,840
2,280
20,120
23,050
4,921
18,129
$38,249
$10,677
27,572
$38,249
(2)
(3)
(4)
Apr. 30
30
30
30
Service Revenue
Income Summary
15,590
Income Summary
Salaries and Wages Expense
Rent Expense
Depreciation Expense
Interest Expense
12,328
15,590
10,840
760
671
57
Income Summary
Owner's Capital
3,262
Owner's Capital
Owner's Drawings
3,650
3,262
3,650
Name: Solution
Date:
Instructor:
Course:
E4-4
Instructions:
(b) Post the
closing
entries
to Income Summary
Owners Capital. Use T
Accounting
Principles
, Tenth
Edition
by Weygandt,
Kieso, andand
Kimmel
accounts.
(2)
(3)
Income Summary
12,328
(1)
3,262
15,590
15,590
(4)
15,590
Owner's Capital
3,650
Bal.
(3)
Bal.
27,960
3,262
27,572
Credit
$4,921
5,700
4,920
57
27,572
$43,170
Name:
Instructor:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
Date:
Course:
P4-1A, Prepare worksheet, fi nancial statements, and adjusting and closing entries.
Omer Asik began operations as a private investigator on January 1, 2012. The trial balance columns of the worksheet for Omer Asik, P.I. at March 31 are as follows.
OMER ASIK, P.I.
Worksheet
For the Quarter Ended March 31, 2012
Trial Balance
Adjustments
Adjusted Trial Balance Income Statement
Balance Sheet
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
11,400
Accounts Receivable
5,620
Supplies
1,050
Prepaid Insurance
2,400
Equipment
30,000
Notes Payable
10,000
Accounts Payable
12,350
Owner's Capital
20,000
Owner's Drawings
600
Service Revenue
13,620
Salaries and Wages Expense
2,200
Travel Expense
1,300
Rent Expense
1,200
Miscellaneous Expense
200
55,970
55,970
Supplies Expense
Depreciation Expense
Accumulated Depreciation - Equipment
Interest Expense
Interest Payable
Insurance Expense
Totals
Net Income
Totals
Key: (a) Supplies Used; (b) Depreciation Expense; (c) Accrued Interest on note; (d) Insurance Expired; (e) Service Revenue Earned but unbilled.
Other data:
1. Supplies on hand total
$480
2. Depreciation per quarter is
$800
3. Interest accrued on 6-month note payable, issued January 1,
4. Insurance expires at the rate of
$200
per month.
5. Services provided but unbilled at March 31 total
$1,030
$300
Instructions:
(a) Complete the worksheet, above.
Name:
Date:
Instructor:
Course:
(b)
Prepare an income
statement
and
owners
equity statement
theKimmel
quarter and a classified balance sheet at March 31. O. Asik did not make any additional investments in the business
Accounting
Principles
, Tenth
Edition
by Weygandt,
Kieso,for
and
during the quarter ended March 31, 2012.
OMER ASIK, P.I.
Income Statement
For the Quarter Ended March 31, 2012
Revenues
Account title
Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total expenses
Net income
Formula
Formula
Amount
Formula
Formula
Amount
Formula
Current assets
Account title
Account title
Account title
Account title
Total current assets
Property, plant, and equipment
Account title
Less: Account title
Total assets
Amount
Amount
Amount
Amount
Formula
Amount
Amount
Formula
Formula
Name:
Instructor:
(c)
Journalize the
adjusting entries
the by
adjustments
of the
worksheet.
Accounting
Principles
, Tenthfrom
Edition
Weygandt,columns
Kieso, and
Kimmel
Mar. 31
31
31
31
31
Account title
Account title
Amount
Account title
Account title
Amount
Account title
Account title
Amount
Account title
Account title
Amount
Account title
Account title
Amount
Date:
Course:
Amount
(d) Journalize the closing entries from the financial statement columns of the
worksheet.
Amount
Mar. 31 Account title
Account title
Amount
31
Amount
Amount
Amount
Amount
31
31
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Account title
Amount
Account title
Account title
Amount
Account title
Account title
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Name: Solution
Instructor:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
Date:
Course:
P4-1A, Prepare worksheet, fi nancial statements, and adjusting and closing entries.
Omer Asik began operations as a private investigator on January 1, 2012. The trial balance columns of the worksheet for Omer Asik, P.I. at March 31 are as follows.
OMER ASIK, P.I.
Worksheet
For the Quarter Ended March 31, 2012
Trial Balance
Adjustments
Adjusted Trial Balance Income Statement
Balance Sheet
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
11,400
11,400
11,400
Accounts Receivable
5,620
(e)
1,030
6,650
6,650
Supplies
1,050
(a)
570
480
480
Prepaid Insurance
2,400
(d)
600
1,800
1,800
Equipment
30,000
30,000
30,000
Notes Payable
10,000
10,000
10,000
Accounts Payable
12,350
12,350
12,350
Owner's Capital
20,000
20,000
20,000
Owner's Drawings
600
600
600
Service Revenue
13,620
(e)
1,030
14,650
14,650
Salaries and Wages Expense
2,200
2,200
2,200
Travel Expense
1,300
1,300
1,300
Rent Expense
1,200
1,200
1,200
Miscellaneous Expense
200
200
200
55,970
55,970
Supplies Expense
(a)
570
570
570
Depreciation Expense
(b)
800
800
800
Accumulated Depreciation - Equipment
(b)
800
800
800
Interest Expense
(c)
300
300
300
Interest Payable
(c)
300
300
300
Insurance Expense
(d)
600
600
600
Totals
3,300
3,300
58,100
58,100
7,170
14,650
50,930
43,450
Net Income
7,480
7,480
Totals
14,650
14,650
50,930
50,930
Key: (a) Supplies Used; (b) Depreciation Expense; (c) Accrued Interest on note; (d) Insurance Expired; (e) Service Revenue Earned but unbilled.
Other data:
1. Supplies on hand total
$480
2. Depreciation per quarter is
$800
3. Interest accrued on 6-month note payable, issued January 1,
4. Insurance expires at the rate of
$200
per month.
5. Services provided but unbilled at March 31 total
$1,030
$300
Instructions:
(a) Complete the worksheet, above.
Name: Solution
Date:
Instructor:
Course:
(b)
Prepare an income
statement
and
owners
statement
theKimmel
quarter and a classified balance sheet at March 31. O. Asik did not make any additional investments in the business
Accounting
Principles
, Tenth
Edition
by equity
Weygandt,
Kieso,for
and
during the quarter ended March 31, 2012.
OMER ASIK, P.I.
Income Statement
For the Quarter Ended March 31, 2012
Revenues
Service Revenue
Expenses
Salaries and Wages Expense
$2,200
Travel Expense
1,300
Rent Expense
1,200
Depreciation Expense
800
Supplies Expense
570
Insurance Expense
600
Interest Expense
300
Miscellaneous Expense
200
Total expenses
Net income
7,170
$7,480
$0
27,480
27,480
600
$26,880
Current assets
Cash
$11,400
Accounts Receivable
6,650
Supplies
480
Prepaid Insurance
1,800
Total current assets
Property, plant, and equipment
Equipment
30,000
Less: Accumulated Depreciation - Equipment
800
Total assets
Liabilities and Owners Equity
Current liabilities
Notes Payable
$10,000
Accounts Payable
12,350
Interest Payable
300
Total current liabilities
Owners equity
Owner's Capital
Total liabilities and owners equity
$20,330
29,200
$49,530
$22,650
26,880
$49,530
Name: Solution
Instructor:
(c)
Journalize the
adjusting entries
the by
adjustments
of the
worksheet.
Accounting
Principles
, Tenthfrom
Edition
Weygandt,columns
Kieso, and
Kimmel
Mar. 31
31
31
31
31
Supplies Expense
Supplies
570
Depreciation Expense
Accumulated Depreciation - Equipment
800
Interest Expense
Interest Payable
300
Insurance Expense
Prepaid Insurance
600
Accounts Receivable
Service Revenue
1,030
Date:
Course:
570
(d) Journalize the closing entries from the financial statement columns of the
worksheet.
14,650
Mar. 31 Service Revenue
Income Summary
14,650
31
800
300
600
1,030
31
31
Income Summary
Travel Expense
Salaries and Wages Expense
Rent Expense
Insurance Expense
Depreciation Expense
Supplies Expense
Interest Expense
Miscellaneous Expense
7,170
Income Summary
Owner's Capital
7,480
Owner's Capital
Owner's Drawings
1,300
2,200
1,200
600
800
570
300
200
7,480
600
600
Name:
Instructor:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
P4-1B, Prepare a worksheet, financial statements, and adjusting and closing entries.
The trial balance columns of the worksheet for Gibson Roofing at March 31, 2012, are as follows.
GIBSON ROOFING
Worksheet
For the Month Ended March 31, 2012
Trial Balance
Adjustments
Adjusted Trial Balance
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
4,500
Accounts Receivable
3,200
Supplies
2,000
Equipment
11,000
Accum Deprec - Equipment
1,250
Accounts Payable
2,500
Unearned Service Revenue
550
Owner's Capital
12,900
Owner's Drawings
1,100
Service Revenue
6,300
Salaries and Wages Expense
1,300
Miscellaneous Expense
400
Totals
23,500
23,500
Supplies Expense
Depreciation Expense
Salaries and Wages Payable
Totals
Net Income
Totals
Date:
Course:
Income Statement
Dr.
Cr.
Key: (a) Supplies Used; (b) Depreciation Expensed; (c) Service Revenue Earned; (d) Salaries Accrued.
Other data:
1. A physical count reveals only
$550
2. Depreciation for March is
$250
3. Unearned service revenue amounted to
4. Accrued salaries are
$700
Instructions:
(a) Complete the worksheet, above.
Balance Sheet
Dr.
Cr.
Name:
Date:
Instructor:
Course:
(b)
Prepare an income
statement
and
owners
statement
theKimmel
month of March and a classified balance sheet at March 31. T. Gibson did not make any additional
Accounting
Principles
, Tenth
Edition
by equity
Weygandt,
Kieso,for
and
investments in the business in March.
GIBSON ROOFING
Income Statement
For the Month Ended March 31, 2012
Revenues
Account title
Expenses
Account title
Amount
Account title
Amount
Account title
Amount
Account title
Amount
Total expenses
Net income
GIBSON ROOFING
Owners Equity Statement
For the Month Ended March 31, 2012
Owner's Capital, March 1
Title
Title
Owner's Capital, March 31
GIBSON ROOFING
Balance Sheet
March 31, 2012
Assets
Amount
Formula
Formula
Amount
Amount
Formula
Amount
Formula
(c) Journalize the adjusting entries from the adjustments columns of the worksheet.
Mar. 31
Account title
Account title
31
Account title
Account title
Amount
Amount
Amount
Current assets
Account title
Account title
Account title
Total current assets
Property, plant, and equipment
Account title
Account title
Total assets
Amount
Amount
31
Account title
Account title
Amount
Amount
Formula
Formula
Formula
Amount
Formula
(d) Journalize the closing entries from the financial statement columns of the
worksheet.
Account title
Amount
Mar. 31
Account title
Amount
31
Account title
Account title
Amount
Amount
Amount
31
Amount
Amount
Amount
Formula
31
31
Account title
Account title
Account title
Account title
Account title
Formula
Account title
Account title
Amount
Account title
Account title
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Name: Solution
Instructor:
Accounting Principles, Tenth Edition by Weygandt, Kieso, and Kimmel
Primer on Using Excel in Accounting by Rex A Schildhouse
P4-1B, Prepare a worksheet, financial statements, and adjusting and closing entries.
The trial balance columns of the worksheet for Gibson Roofing at March 31, 2012, are as follows.
GIBSON ROOFING
Worksheet
For the Month Ended March 31, 2012
Trial Balance
Adjustments
Adjusted Trial Balance
Account titles
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
4,500
4,500
Accounts Receivable
3,200
3,200
Supplies
2,000
(a)
1,450
550
Equipment
11,000
11,000
Accumulated Depreciation - Equipment
1,250
(b)
250
1,500
Accounts Payable
2,500
2,500
Unearned Service Revenue
550
(c)
340
210
Owner's Capital
12,900
12,900
Owner's Drawings
1,100
1,100
Service Revenue
6,300
(c)
340
6,640
Salaries and Wages Expense
1,300
(d)
700
2,000
Miscellaneous Expense
400
400
Totals
23,500
23,500
Supplies Expense
(a)
1,450
1,450
Depreciation Expense
(b)
250
250
Salaries and Wages Payable
(d)
700
700
Totals
2,740
2,740
24,450
24,450
Net Income
Totals
Date:
Course:
Income Statement
Dr.
Cr.
6,640
2,000
400
1,450
250
4,100
2,540
6,640
Key: (a) Supplies Used; (b) Depreciation Expensed; (c) Service Revenue Earned; (d) Salaries Accrued.
Other data:
1. A physical count reveals only
$550
2. Depreciation for March is
$250
3. Unearned service revenue amounted to
4. Accrued salaries are
$700
Balance Sheet
Dr.
Cr.
4,500
3,200
550
11,000
1,500
2,500
210
12,900
1,100
Instructions:
(a) Complete the worksheet, above.
6,640
20,350
6,640
20,350
700
17,810
2,540
20,350
Name: Solution
Date:
Instructor:
Course:
(b)
Prepare an income
statement
and
owners
statement
theKimmel
month of March and a classified balance sheet at March 31. T. Gibson did not make any additional investments in
Accounting
Principles
, Tenth
Edition
by equity
Weygandt,
Kieso,for
and
the business in March.
GIBSON ROOFING
Income Statement
For the Month Ended March 31, 2012
Revenues
Service Revenue
Expenses
Salaries and Wages Expense
Supplies Expense
Miscellaneous Expense
Depreciation Expense
Total expenses
Net income
GIBSON ROOFING
Balance Sheet
March 31, 2012
Asset
$2,000
1,450
400
250
4,100
$2,540
GIBSON ROOFING
Owners Equity Statement
For the Month Ended March 31, 2012
Owner's Capital, March 1
Add: Net income
Less: Drawings
Owner's Capital, March 31
31
31
31
Supplies Expense
Supplies
1,450
Depreciation Expense
Accumulated Depreciation - Equipment
31
250
340
700
$8,250
11,000
1,500
9,500
$17,750
$3,410
14,340
$17,750
(d) Journalize the closing entries from the financial statement columns of the
worksheet.
Service Revenue
6,640
Mar. 31
Income Summary
1,450
6,640
250
$4,500
3,200
550
$12,900
2,540
15,440
1,100
$14,340
(c) Journalize the adjusting entries from the adjustments columns of the worksheet.
Mar. 31
Current assets
Cash
Accounts Receivable
Supplies
Total current assets
Property, plant, and equipment
Equipment
Less: Accum. depreciation-Euip.
Total assets
$6,640
340
31
700
31
Income Summary
Salaries and Wages Expense
Supplies Expense
Depreciation Expense
Miscellaneous Expense
4,100
Income Summary
Owner's Capital
2,540
Owner's Capital
Owner's Drawings
1,100
2,000
1,450
250
400
2,540
1,100