PROBLEM 4-5A

(a)
General Journal J1
Date Account Titles and Explanation Ref. Debit Credit
July 1 Cash..................................................... 101 20,000
Owner’s Capital.......................... 301 20,000

1 Equipment........................................... 157 12,000

Cash............................................ 101 4,000
Accounts Payable...................... 201 8,000

3 Supplies............................................... 126 2,100

Accounts Payable...................... 201 2,100

5 Prepaid Insurance............................... 130 1,800

Cash............................................ 101 1,800

12 Accounts Receivable.......................... 112 4,500

Service Revenue........................ 400 4,500

18 Accounts Payable............................... 201 2,900

Cash............................................ 101 2,900

20 Salaries and Wages Expense............. 726 2,800

Cash............................................ 101 2,800

21 Cash..................................................... 101 3,400

Accounts Receivable................. 112 3,400

25 Accounts Receivable.......................... 112 6,000

Service Revenue........................ 400 6,000

31 Gasoline Expense............................... 633 350

Cash............................................ 101 350

31 Owner’s Drawings............................... 306 5,600

Cash............................................ 101 5,600

Copyright © 2015 John Wiley & Sons, Inc.   Weygandt, Accounting Principles, 12/e, Solutions Manual   (For Instructor Use Only) 4-1
 (b) & (c) ANYA’S CLEANING SERVICE

Worksheet PRO
Copyri
ght ©
For the Month Ended July 31, 2017 BLE
2015 M 4-
John
Adjusted Income 5A
Wiley
&
(Con
Account Titles Trial Balance Adjustments Trial Balance Statement Balance Sheet
Sons, tinue
Inc.    d)
Weyga Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
ndt,
Accou
nting Cash 5,950 5,950 5,950
Principl
es, Accounts Receivable 7,100 (a) 2,700 9,800 9,800
12/e,
Solutio Supplies  2,100 (d) 1,500    600    600
ns
Manual Prepaid Insurance  1,800 (c)   150  1,650  1,650
   (For
Instruct
Equipment 12,000 12,000 12,000
or Use
Accounts Payable  7,200  7,200  7,200
Only)

Owner’s Capital 20,000 20,000 20,000

Copyri
ght © Owner’s Drawings  5,600  5,600  5,600
2013
John Service Revenue 10,500 (a) 2,700 13,200 13,200
Wiley
& Gasoline Expense    350    350   350
Sons,
Inc.    Salaries and Wages Expense  2,800             (e) 1,000  3,800 3,800
Weyga
ndt, Totals 37,700 37,700
Accou
nting
Depreciation Expense (b)   500    500   500
Principl    500
Accum. Depr.—Equipment (b)   500    500
es,
11/e,
Insurance Expense (c)   150 150   150
Solutio
ns Supplies Expense (d) 1,500  1,500 1,500
Manual
 1,000
Salaries and Wages Payable           (e) 1,000              1,000                                      
  28,700
Totals 5,850 5,850 41,900 6,300 13,200 35,600
41,900 6,900
Net Income 6,900                          
35,600
Totals 13,200 13,200 35,600
PROBLEM 4-5A (Continued)

(a), (e) & (f)

Cash No. 101

Date Explanation Ref. Debit Credit Balance
July 1 Owners capital J1 50,000 50,000
1 Equipment J1 8,000 42,000
11 Prepaid Insurance J1 1,500 40,500
23 Salaries and Wages
Expence J1 3,400 37,100
26 Account J1 3,500 40,100
Receivable
29 Owner’s Drawing J1 3,000 37,600

Accounts Receivable No. 112

Date Explanation Ref. Debit Credit Balance
June17 Services Revenue J1 5,500 5,500
26 Cash J1 3,500 2,000
25 J1 6,000 7,100
31 Adjusting J2 2,700 9,800

Supplies No. 126

Date Explanation Ref. Debit Credit Balance
July 4 Account Payable J1 2,800 2,800
31 Adjusting J2 1,500 600

Prepaid Insurance No. 130

Date Explanation Ref. Debit Credit Balance
July 11 Cash J1 1,500 1,500
31 Adjusting J2 150 1,650

Equipment No. 157

Date Explanation Ref. Debit Credit Balance
July 1 Cash J1 8,000 8,,000
PROBLEM 4-5A (Continued)

Accumulated Depreciation—Equipment No. 158

Date Explanation Ref. Debit Credit Balance
July 31 Adjusting J2 500 500

Accounts Payable No. 201

Date Explanation Ref. Debit Credit Balance
July 1 Equipment J1 12,000 12,000
4 Supplies J1 2,800 14,800
18 J1 2,900 7,200

Salaries and Wages Payable No. 212

Date Explanation Ref. Debit Credit Balance
July 31 Adjusting J2 1,000 1,000

Owner’s Capital No. 301

Date Explanation Ref. Debit Credit Balance
July 1 Cash J1 50,000 50,000
31 Closing J3 6,900 26,900
31 Closing J3 5,600 21,300

Owner’s Drawings No. 306

Date Explanation Ref. Debit Credit Balance
June29 Cash J1 3,000 3,000
31 Closing J3 5,600 0

Income Summary No. 350

Date Explanation Ref. Debit Credit Balance
July 31 Closing J3 13,200 13,200
31 Closing J3 6,300 6,900
31 Closing J3 6,900 0
PROBLEM 4-5A (Continued)

Service Revenue No. 400

Date Explanation Ref. Debit Credit Balance
June17 Account J1 5,500 5,500
Receivable
25 J1 6,000 10,500
31 Adjusting J2 2,700 13,200
31 Closing J3 13,200 0

Supplies Expense No. 631

Date Explanation Ref. Debit Credit Balance
July 31 Adjusting J2 1,500 1,500
31 Closing J3 1,500 0

Equipment No. 157

Date Explanation Ref. Debit Credit Balance
July 1 Cash J1 8,000 8,000
1 Account Payable J1 12,000 20,000

Depreciation Expense No. 711

Date Explanation Ref. Debit Credit Balance
July 31 Adjusting J2 500 500
31 Closing J3 500 0

Insurance Expense No. 722

Date Explanation Ref. Debit Credit Balance
July 31 Adjusting J2 150 150
31 Closing J3 150 0

Salaries and Wages Expense No. 726

Date Explanation Ref. Debit Credit Balance
June23 Cash J1 3,400 3,400
31 Adjusting J2 1,000 3,800
31 Closing J3 3,800 0
PROBLEM 4-5A (Continued)

(d) ANYA’S CLEANING SERVICE

Income Statement
For the Month Ended July 31, 2017

Revenues
Service revenue...............................................
$13,200
Expenses
Salaries and wages expense.......................... $3,800
Supplies expense............................................. 1,500
Depreciation expense...................................... 500
Gasoline expense............................................ 350
Insurance expense........................................... 150
Total expenses.........................................
6,300
Net income............................................................... $
6,900

ANYA’S CLEANING SERVICE

Owner’s Equity Statement
For the Month Ended July 31, 2017

Owner’s Capital, July 1........................................... $

0
Add: Investments.................................................. $20,000
Net income.................................................... 6,900
26,900

26,900
Less: Drawings.......................................................
5,600
Owner’s Capital, July 31.........................................
$21,300

ANYA’S CLEANING SERVICE

Balance Sheet
July 31, 2017
 Assets
Current assets
Cash.................................................................. $5,950
Accounts receivable........................................ 9,800
Supplies............................................................ 600
Prepaid insurance............................................ 1,650
Total current assets.................................
$18,000
PROBLEM 4-5A (Continued)

ANYA’S CLEANING SERVICE

Balance Sheet (Continued)
July 31, 2017

Assets (Continued)
Property, plant, and equipment
Equipment........................................................ $12,000
Less: Accumulated depreciation—
equipment............................................. 500
11,500
Total assets..............................................
$29,500

Liabilities and Owner’s Equity

Current liabilities
Accounts payable............................................ $7,200
Salaries and wages payable........................... 1,000
Total current liabilities............................ $
8,200
Owner’s equity
Owner’s capital................................................
21,300
Total liabilities and owner’s equity........
$29,500

(e)
General Journal J2
Date Account Titles and Explanation Ref. Debit Credit
July 31 Accounts Receivable......................... 112 2,700
Service Revenue........................ 400 2,700

31 Depreciation Expense........................ 711 500

Accumulated Depreciation—
Equipment.............................. 158 500

31 Insurance Expense............................. 722 150

Prepaid Insurance..................... 130 150

31 Supplies Expense............................... 631 1,500

 Supplies...................................... 126 1,500

31 Salaries and Wages Expense............ 726 1,000

Salaries and Wages Payable.... 212 1,000
PROBLEM 4-5A (Continued)

(f) General Journal

J3
Date Account Titles and Explanation Ref. Debit Credit
July Service Revenue.................................. 400 13,200
31
Income Summary....................... 350 13,200

31 Income Summary................................ 350 6,300

Salaries and Wages Expense.... 726 3,800
Supplies Expense...................... 631 1,500
Depreciation Expense................ 711 500
Gasoline Expense...................... 633 350
Insurance Expense.................... 722 150

31 Income Summary................................ 350 6,900

Owner’s Capital.......................... 301 6,900

31 Owner’s Capital................................... 301 5,600

Owner’s Drawings...................... 306 5,600

(g) ANYA’S CLEANING SERVICE

Post-Closing Trial Balance
July 31, 2017

Debit Credit
Cash...................................................................... $ 5,950
Accounts Receivable.......................................... 9,800
Supplies................................................................ 600
Prepaid Insurance............................................... 1,650
Equipment............................................................ 12,000
Accumulated Depreciation—Equipment........... $
500
Accounts Payable................................................ 7,200
Salaries and Wages Payable.............................. 1,000
Owner’s Capital...................................................              
21,300
$30,000
$30,000