E4-1

BRISCOE COMPANY
Worksheet
For the month ended June 30, 2008
Accounts Titles

Cash
A/R
Supplies
A/P

Trial Balance
Dr.
2320
2440

Cr.

A.T.B

Cr.

Dr.
2320
2440

1580

300

1120
240

Lenny Briscoe,
Capital

3600

140

2400

Service Revenue
Salaries Expense

560

Miscellaneous
Expense

160

Totals
Supplies Expense
Salaries Payable

7360

Net Loss
Totals

Dr.

1880

Unearned Revenue

Totals

Adjusting entry

140
280

Cr.

Income statement
Dr.

Cr.

Balance Sheet
Dr.
2320
2440

Cr.

300
1120

1120

100

100

3600

3600

2450

2450

840

840

160

160

7360
1580

1580
280

2000

2000

1580
280

7640

7640

280
2580

2540

5060

5100

2580

40
2580

40
5100

5100

E4-7
a)
Service Revenue
Income Summary
Income Summary
Salaries Expense
Miscellaneous Expense
Supplies Expense
Income Summary
Emil Skoda, Capital
Emil Skoda, Capital
Emil Skoda, Drawing
(b)

4064
4064
3828
1344
256
2228
236
236
300
300
EMIL SKODA COMPANY
Post-Closing Trial Balance
For the Month Ended June 30, 2008

Account Titles

Debit

Cash
Accounts Receivable

3,712
3,904

Supplies
Accounts Payable
Salaries Payable
Unearned Revenue
Emil Skoda, Capital
Totals

480

$8,096

Credit

1792
448
160
5696
8096

Problem 4 -1A
T.B

Accounts Titles
Dr.
11,400
5,620

Cash
Accounts
Receivable
Supplies
Prepaid Insurance
Equipment
Notes Payable
Accounts Payable
Capital
Drawings
Service Revenue
Salaries Expense
Travel Expense
Rent Expense
Miscellaneous
Expense
Totals
Supplies expenses
Depreciation
expense
Accumulated
depreciation
Interest Expense
Interest Payable
Insurance Expense
Totals
Net Income
Totals

b)

Cr.

PTHOMAS MAGNUM P.I.

Worksheet
For the Quarter Ended March 31, 2008
Adjustments
Adjusted Trial Balance Income statement
Dr.

Cr.

Dr.
11,400
6,150

a.670
d.600

380
1,800
30,000

e.530

1,050
2,400
30,000
10,000
12,350
20,000

Dr.

Cr.

Dr.
11400
6150

10000
12350
20000

600
13,620

e.530

600
14150

2,200
1,300
1,200
200

Cr.

380
1800
30000
10000
12350
20000

600

55,970

Cr.

Balance
Sheet

14150

2,200
1,300
1,200
200

2,200
1,300
1,200
200

670
1000

670
1000

55,970
a.670
b.1000
b.1000
c.300

1000
300

c.300
d.600
3100

3100

1000
300

300
600
57800

57800

THOMAS MAGNUM P.I.

300
600
7470
6680
14150

14150

50330

14150

50330

43650
6680
50330

Income Statement
For the Quarter Ended March 31, 2008
Revenue
Service revenues
Expenses
Salaries expense
Travel expense

2200
1300

Rent expense

1200

Depreciation Expense
Supplies expense

1000
670

14150

Insurance expense

600

Interest expense

300

Miscellaneous expense

200

Total expenses

7470

Net income

6680
THOMAS MAGNUM P.I.
Owners Equity Statement
For the Quarter Ended March 31, 2008

T. Magnum, Capital,
Add: Investment by owner
Net income
Less: Drawings
T. Magnum, Capital

$0
20000
6680

26680
600
$26080

THOMAS MAGNUM P.I.

Balance Sheet
March 31, 2008
Assets
Current Assets
Cash
Accounts receivable
Supplies
Prepaid insurance
Total current assets
Property, plant, and equipment
Equipment
Less: Accumulated depreciation

11400
6150
380
1800
19730
$30,000
1000
29000
48730

Total assets
Liabilities and Owners Equity
Current liabilities
Notes payable
Accounts payable
Interest payable
Total current liabilities
Owners equity
Magnum, Capital
Total liabilities and owners equity

10000
12350
300
22650
26080
48730

C) March 31
Supplies Expense
Supplies
Depreciation Expense

670
670
1000
Accumulated Depreciation

1000

Interest Expense

300
Interest Payable

300

Insurance Expense

600
Prepaid Insurance

600

Accounts Receivable
Service Revenue

530
530

d) March 31
Service Revenue
Income Summary
Income Summary
Travel Expense
Salaries Expense
Rent Expense
Insurance Expense
Depreciation Expense
Supplies Expense
Interest Expense
Miscellaneous Expense
Income Summary
T. Magnum, Capital
T. Magnum, Capital
T. Magnum, Drawing

14150
14150
7470
1300
2200
1200
600
1000
670
300
200
6680
6680
600
600

P4-2A
PORTER COMPANY
Balance Sheet
December 31, 2008
Accounts Titles
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Office Equipment
Acc.Dep Off. Equip
Notes Payable
Accounts Payable
Salaries Payable
Interest Payable
Capital
Drawings
Service Revenue
Advertising Expense
Supplies expenses
Depreciation expense
Insurance Expense
Salaries Expense
Interest Expense
Totals
Net Income
Totals

Adjusted
Trial Balance
Dr.
18800
16200

Income statement
Cr.

Dr.

Cr.

2300
4400
44000

Balance
Sheet
Dr.
18800
16200
2300
4400
44000

20000
20000
8000
2600
1000
36000

20000
20000
8000
2600
1000
36000

12000

12000
77800

12000
3700
8000
4000
39000
1000
165400

Cr.

165400

77800
12000
3700
8000
4000
39000
1000
67700
10100
77800

77800

97700

77800

97700

87600
10100
97700

PORTER COMPANY
Income Statement
For the Year Ended December 31, 2008
Revenues
Service revenue
Expenses
Salaries expense
Advertising expense
Depreciation expense
Insurance expense
Supplies expense
Interest expense
Total expenses
Net income

77800
39000
12000
8000
4000
3700
1000
67700
$10100
PORTER COMPANY
Owners Equity Statement
For the Year Ended December 31, 2008

B. Porter, Capital, January 1

Add: Net income

Less: Drawings
Porter, Capital

36000

10100
46100
12000
34,100

PORTER COMPANY
Balance Sheet
December 31, 2008
Assets
Current Assets
Cash
Accounts Receivable
Supplies
Prepaid Insurance

18800
16200
2300
4400
41700

PPE
Office Equipment
Accumulated DepreciationOffice
Equipment

44000
20000
24000
$65700

Total Assets
Liabilities and Owners Equity
Current liabilities
Notes Payable
Accounts Payable
Salaries Payable
Interest Payable
Total current liabilities
Long-term liabilities
Notes payable
Total liabilities
Owners equity

10000
8000
2600
1000
21600
10000
31600

B. Porter, Capital
Total liabilities and owners equity

c)
Date
Dec 31
31

31
31

34100
65700

General Journal
Explanation
Service Revenue
Income Summary
Income Summary
Advertising Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Salaries Expense
Interest Expense
Income Summary
B. Porter, Capital
B. Porter, Capital
B. Porter, Drawing

Ref
400
350
350
610
631
711
722
726
905
350
301
301
306

Debit
77800

77800
67700
12000
3700
8000
4000
39000
1000
10100
10100
12000
12000

B. Porter, Capital
Date
Jan 31
Dec 31

Explanation
Balance
Closing entry
Closing entry

No. 301
Ref

Debit

J14
J14

12000

Credit
36000
10100

B. Porter, Drawing
Date
Dec 31

Explanation
Balance

Credit

Balance
36000
46100
34100
No. 306

Ref

Debit
12000

Credit

Balance
12000

Closing entry

J14

12000

Income Summary
Date
Dec 31
31
31

Explanation
Closing entry
Closing entry
Closing entry

No. 350
Ref
J14
J14
J14

Debit

Credit
77800

67700
10100

Service Revenue
Date
Dec 31
31

Explanation
Balance
Closing entry

Balance
77800
10100
0
No. 400

Ref

Debit

J14

77800

Credit
77800

Balance
77800
0

Advertising Expense
Date
Dec 31
31

Explanation
Balance
Closing entry

No. 610
Ref

Debit
12000

J14

Credit
12000

Supplies Expense
Date
Dec 31
31

Explanation
Balance
Closing entry

Depreciation Expense

Balance
12000
0
No.631

Ref
J14

Debit
3700

Credit

Balance
3700
0

3700
No.711

Date
Dec 31
31

Explanation
Balance
Closing entry

Ref

Debit
8000

Credit

J14

8000

Insurance Expense

No. 722

Date
Dec 31
31

Explanation
Balance
Closing entry
Salaries Expense

Ref

Date
Dec 31
31

Explanation
Balance
Closing entry
Interest Expense

Ref

Date
Jan 31
Dec 31

Explanation
Balance
Closing entry

Balance
8000
0

Debit
4000

Credit

J14

4000
Debit
39000

Credit

J14

39000

Balance
4000
0
No. 726
Balance
39000
0

No. 905
Ref

Debit
1000

Credit

J14

1000

Balance
1000
0

e) PORTER COMPANY
Post-Closing Trial Balance
December 31, 2008
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Office Equipment
Accumulated DepreciationOffice
Equipment
Notes Payable

Debit
18800
16200
2300
4400

Credit

44000
20000
20000

Accounts Payable
Salaries Payable
Interest Payable
Capital
Total

8000
2600
1000
34100
85700

85700

P4-4A
DISNEY AMUSEMENT PARK
Worksheet
For the Year Ended September 30, 2008
Accounts Titles

Cash
Supplies
Prepaid Insurance
Land
Equipment
Accumulated
depreciation
Accounts Payable
Unearned Admission
Rev
Mortgage Note
Payable
Capital
Drawings
Service Revenue
Salaries Expense
Repair Expense
Advertising Expense
Utilities Expense
Property Taxes
Expense

Trial Balance

Dr.
41400
18600

Adjusments

Cr.

Dr.

Adjusted
Trial Balance
Cr.
a)17400

31900
80000
120000

b)23000
36200
14600
3700

Dr.
41400
1200

Cr.

Dr.

Cr.

8900
80000
120000

c)6000
d)1700

50000
109700

Balance
Sheet
Dr.
41400
1200

42200

42200

14600
2000

14600
2000

50000

50000
109700

14000
277500

d)1700

e)3000

14000
279200

105000
30500
9400
16900
21000

Cr.

8900
80000
120000

109700

14000
105000
30500
9400
16900
18000

Income statement

279200
105000
30500
9400
16900
21000

Interest Expense
Totals

6000
491700

f)4000
491700

10000

10000

Insurance Expense
Supplies Expense

b)23000
17400

23000
17400

23000
17400

Interest Payable
Depreciation
Expense

c)6000

Property Taxes
Payable
Totals
Net income
Totals

f)4000

4000
6000

e)3000
55100

b)

55100

4000
6000

3000
504700

504700

3000
239200
40000
279200

279200

265500

279200

265500

DISNEY AMUSEMENT PARK

Balance Sheet
September 30, 2008
Assets
Current assets
Cash
Supplies
Prepaid insurance
Total current assets
Property, plant, and equipment
Land
Equipment
Less: Accum. depreciation

41400
1200
8900
51500
80,000
120000
42200

77800

157800
209300

Liabilities and Owners Equity

Current liabilities
Current maturity of mortgage note payable
Accounts payable
Interest payable
Property taxes payable
Unearned admissions revenue
Total current liabilities

10000
14600
4000
3000
2000
33600

255500
40000
265500

Long-term liabilities
Mortgage note payable
Total liabilities
Owners equity
sL. Disney, Capital
($109,700 + $40,000 $14,000)
Total liabilities and owners equity

40000
73600
135,700
209300

c)
Supplies Expense
Supplies
Insurance Expense
Prepaid Insurance

17400

Depreciation Expense
Accumulated Depreciation
Unearned Admissions Revenue
Admissions Revenue

6000

Property Taxes Expense

Property Taxes Payable

3000

Interest Expense
Interest Payable

4000

Admissions Revenue
Income Summary
Income Summary
Salaries Expense
Repair Expense
Insurance Expense
Property Taxes Expense
Supplies Expense
Utilities Expense
Interest Expense
Advertising Expense

17400
23000
23000
6000
1700
1700
3000
4000
279200
279200
239200
105000
30500
23000
21000
17400
16900
10000
9400

Depreciation Expense

6000

Income Summary
L. Disney, Capital

40000

L. Disney, Capital
L. Disney, Drawing

14000

e)

Explanation
Cash
Supplies
Prepaid Insurance
Land
Equipment
Accumulated Depreciation
Accounts Payable
Interest Payable
Property Taxes Payable
Unearned Admissions Revenue
Mortgage Note Payable
L. Disney, Capital

40000
14000
DISNEY AMUSEMENT PARK
Post-Closing Trial Balance
September 30, 2008

Debit
41400
1200
8900
80000
120000

251500

Credit

42200
14600
4000
3000
2000
50000
135700
251500