Work_SheetEnter the appropriate amount or item in the shaded cells.docx

Work_SheetEnter the appropriate amount or item in the shaded
cells.VIADUCT CO.Work SheetFor the Year Ended December
31, 2006AdjustedIncomeBalanceTrial BalanceAdjustmentsTrial
BalanceStatementSheetAccount
TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Cash18,000Accounts
Receivable82,500Merchandise Inventory165,000Prepaid
Insurance9,700Store Supplies4,250Office Supplies2,100Store
Equipment157,000Accum. Depr. - Store Equipment40,300Office
Equipment50,000Accum. Depr. - Office
Equipment17,200Accounts Payable66,700Salaries
PayableUnearned Rent1,200Note Payable (final payment due
2016)105,000Robbin Jaeger, Capital134,600Robbin Jaeger,
Drawing30,000Sales815,000Sales Returns and
Allowances11,900Sales Discounts7,100Cost of Merch.
Sold476,200Sales Salaries Expense76,400Advertising
Expense25,000Depr. Exp. - Store EquipmentStore Supplies
ExpenseMisc. Selling Expense1,600Office Salaries
Expense34,000Rent Expense16,000Insurance ExpenseDepr.
Exp. - Office EquipmentOffice Supplies ExpenseMisc. Admin.
Expense1,650Rent RevenueInterest Expense11,600Income
Summary1,180,0001,180,000Net income
Peggy Hussey: If the debit total of the income statement
columns is higher than the credit total, enter the difference here.
Peggy Hussey: Enter the sum of the balance sheet debits.
Peggy Hussey: The credit total of the income statement columns
should now be equal to the debit total.
Peggy Hussey: If the credit total of the balance sheet columns is

higher than the debit total, enter the difference here.
Peggy Hussey: Enter the sum of the balance sheet credits.
Peggy Hussey: The debit total of the balance sheet columns
should now be equal to the credit total.
Peggy Hussey: If the debit total of the balance sheet columns is
higher than the credit total, enter the difference here.
Peggy Hussey: The credit total of the balance sheet columns
should now be equal to the debit total.
Peggy Hussey: Enter the sum of the debit adjustments.
Peggy Hussey: Enter the sum of the credit adjustments.
Peggy Hussey: Enter the sum of the adjusted debits.
Peggy Hussey: Enter the sum of the adjusted credits.
Peggy Hussey: Enter the sum of the income statement debits.
Peggy Hussey: If the credit total of the income statement
columns is higher than the debit total, enter the difference here.

Peggy Hussey: Enter the sum of the income statement credits.
Peggy Hussey: The debit total of the income statement columns
should now be equal to the credit total.
2.VIADUCT CO.Income StatementFor the Year Ended
December 31, 20063.VIADUCT CO.Statement of Owner's
EquityFor the Year Ended December 31, 20064.VIADUCT
CO.Balance SheetDecember 31, 2006AssetsLiabilitiesOwner's
Equity 5.JOURNALPost.DateRef.DebitCredit2006Adjusting
EntriesDec.31313131313131Salaries Expense-
Sales2,850Salaries Expense- Office 800Salaries
Payable3,650316.JOURNALPost.DateRef.DebitCredit2006Closi
ng EntriesDec.31313131
sol.VIADUCT CO.Work SheetFor the Year Ended December 31,
2006AdjustedIncomeBalanceTrial BalanceAdjustmentsTrial
BalanceStatementSheetAccount
TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Cash180001800018000Acc
ounts Receivable825008250082500Merchandise
Inventory165000(a)7500157500157500Prepaid
Insurance9700(b)400057005700Store
Supplies4250(c)315011001100Office
Supplies2100(d)1500600600Store
Equipment157000157000157000Accum. Depr. - Store
Equipment40300(e)45004480044800Office
Equipment500005000050000Accum. Depr. - Office
Equipment17200(f)28002000020000Accounts
Payable667006670066700Salaries
Payable(g)365036503650Unearned Rent1200(h)800400400Note
Payable (final payment due 2016)105000105000105000Robbin
Jaeger, Capital134600134600*134600*Robbin Jaeger,
Drawing300003000030000Sales815000815000815000Sales
Returns and Allowances119001190011900Sales
Discounts710071007100Cost of Merch.
Sold476200(a)7500483700483700Sales Salaries

Expense76400(g)28507925079250Advertising
Expense250002500025000Depr. Exp. - Store
Equipment(e)450045004500Store Supplies
Expense(c)315031503150Misc. Selling
Expense160016001600Office Salaries
Expense34000(g)8003480034800JOURNALRent
Expense160001600016000Insurance
Expense(b)400040004000DateDepr. Exp. - Office
Equipment(f)2800280028002006Office Supplies
Expense(d)150015001500Mar.Misc. Admin.
Expense165016501650Rent Revenue(h)800800800Interest
Expense116001160011600Income
Summary118000011800002790027900119095011909506885508
15800502400375150Net
income127250127250815800815800502400502400Accum.
Depr. - Equipment175080VIADUCT CO.Income StatementFor
the Year Ended December 31, 2006Revenue from
sales:Sales815000*Less: Sales returns and
allowances11900Sales discounts710019000*Net
sales796000*Cost of merchandise sold483700*Gross
profit312300*Operating expenses:Selling expenses:Sales
salaries expense79250*Advertising expense25000*Depreciation
expense - store equipment4500*Store supplies
expense3150*Miscellaneous selling expense1600*Total selling
expenses113500*Administrative expenses:Office salaries
expense34800*Rent expense16000*Insurance
expense4000*Depreciation expense - office
equipment2800*Office supplies expense1500*Miscellaneous
admin. expense1650Total administrative expenses60750*Total
operating expenses174250*Income from
operations138050*Other income and expense:Rent
revenue800Interest expense-11600-10800*Net
income127250*VIADUCT CO.Statement of Owner's EquityFor
the Year Ended December 31, 2006Robbin Jaeger, capital,
January 1, 2006134600*Net income for the year127250Less
withdrawals30000Increase in owner's equity97250Robbin

Jaeger, December 31, 2006231850*VIADUCT CO.Balance
SheetDecember 31, 2006AssetsCurrent
assets:Cash18000Accounts receivable82500Merchandise
inventory157500Prepaid insurance5700Store supplies
1100Office supplies600Total current assets265400*Property,
plant, and equipmentStore equipment157000Less: accumulated
depreciation44800112200Office equipment50000Less:
accumulated depreciation2000030000Total property, plant, and
equipment142200*Total assets407600*LiabilitiesCurrent
liabilities:Accounts payable66700Note payable (current
portion)15000Salaries payable3650Unearned rent400Total
current liabilities85750*Long-term liabilities:Note payable
(final payment due 2016)90000*Total
liabilities175750*Stockholders' EquityRobbin Jaeger,
Capital231850*Net
income407600*JOURNALPost.DateRef.DebitCredit2006Adjusti
ng EntriesDec.31Cost of Merchandise Sold7500*Merchandise
Inventory7500*31Insurance Expense4000*Prepaid
Insurance4000*31Store Supplies Expense3150*Store
Supplies3150*31Office Supplies Expense1500*Office
Supplies1500*31Depr. Exp. - Store Equipment4500*Accum.
Depr. - Store Equipment4500*31Depr. Exp. - Office
Equipment2800*Accum. Depr. - Office Equipment2800*31Sales
Salaries Expense2850*Office Salaries Expense800*Salaries
Payable3650*31Unearned Rent800Rent
Revenue800JOURNALPost.DateRef.DebitCredit2006Closing
EntriesDec.31Sales815000*Rent Revenue800Income
Summary815800*31Income Summary688550*Sales Returns and
Allowances11900Sales Discounts7100Cost of Merch.
Sold483700Sales Salaries Expense79250Advertising
Expense25000Depr. Exp. - Store Equipment4500Store Supplies
Expense3150Misc. Selling Expense1600Office Salaries
Expense34800Rent Expense16000Insurance Expense4000Depr.
Exp. - Office Equipment2800Office Supplies Expense1500Misc.
Admin. Expense1650Interest Expense1160031Income
Summary127250*Robbin Jaeger, Capital127250*31Robbin

Jaeger, Capital30000*Robbin Jaeger, Drawing30000*
Artwork Review
Answer all three of the following questions per work of art
shown below. You should reference your book to aid you in
answering these questions. Answers should be in essay format,
be a minimum of three-five sentences each, and include at least
three terms from the glossary for each work..
1 “Monet in his Studio Boat,” Edouad Manet
· How does this work follow the Impressionist style?
· What painting technique did the artist use?
· What social issues does this painting address?
2 “The Tub,” Edgar Degas
· What formal quality did this artist explore?
· How did his medium contribute to the appearance of his work?
· What Modernist interest does he investigate?
2 “Vision after the Sermon,” Paul Gauguin,
· What fundamental differences exist between Gauguin and the
Impressionists?
· Why did Gauguin move to Pont-Aven?
How does he reject both Realism and Impressionism in this
painting?
Work sheet, financial
statements, and adiusti ng
and closing entries
{ 2. Net income: $127,250
'l'he

accctllnts ancl their l>alances
lure as firllou's:
C a s h $
A c c o u n t s R e c e i v a b l e
M e r c h a n d i s e I n v e n t o r v
P r e p a i d I n s u r a n c e
S t o r e S u p p l i e s
O f f i c e S u p p l i e s
S t o r e E q u i p m e n t
A c c u m u l a t e d D e p r e c i a t i o n -
O f f i c e E q u i p m e n t
A c c u m u l a t e d D e p r e c i a t i o n -
A c c o u n t s P a y a b l e
S a l a r i e s P a y a b l e
U n e a r n e d R e n t
N o t e P a y a b l e
( f i n a l p a y m e n t d u e 2 0 1 6 )
R o b b i n J a e g e r , C a p i t a l
R o b b i n J a e g e r , D r a w i n g
I n c o m e S u m m a r y
i n t h e l e c l g e r c t f V i a c l t t c t C o . o n l ) e c e t '
t l l . l e r 3 1 , 2 0 0 ( r .
1 8 , 0 0 0
8 2 , 5 0 0

1 6 5 , 0 0 0
9 , 7 0 0
4,250
2 , 1 0 0
1 5 7 , 0 0 0
4 0 , 3 0 0
5 0 , 0 0 0
1 7 , 2 0 0
6 6 , 7 0 0
1 , 2 0 0
1 0 s , 0 0 0
1 3 4 , 6 0 0
3 0 , 0 0 0
S a l e s
S a l e s R e t u r n s a n d A l l o w a n c e s
S a l e s D i s c o u n t s
C o s t o f M e r c h a n d i s e S o l d
S a l e s S a l a r i e s E x p e n s e
A d v e r t i s i n g E x p e n s e
D e p r e c i a t i o n E x p e n s e -
S t o r e S u p p l i e s E x p e n s e
M i s c e l l a n e o u s S e l l i n g E x p e n s e
O f f i c e S a l a r i e s E x p e n s e
R e n t E x p e n s e

I n s u r a n c e E x p e n s e
D e p r e c i a t i o n E x p e n s e -
O f f i c e S u p p l i e s E x p e n s e -
M i s c e l l a n e o u s A d m i n i s t r a t i v e
E x p e n s e
R e n t R e v e n u e
I n t e r e s t E x p e n s e
o n L ) e c e m b e r 3 1 a r e 2 l s
$ 8 1 s , 0 0 0
1 1 , 9 0 0
7 , 1 0 0
476,200
7 6 , 4 0 0
2 5 , 0 0 0
1 , 6 0 0
3 4 , 0 0 0
1 6 , 0 0 0
1 , 6 5 0
1 1 , 6 0 0
follou's:'fhe clata nccclecl fitr ycar-encl acljustlllcnts
P h y s i c a l m e r c h a n d i s e i n v e n t o r y o n D e c e
m b e r 3 1
I n s u r a n c e e x p i r e d d u r i n g t h e Y e a r

S u p p l i e s o n h a n d o n D e c e m b e r 3 1 :
S t o r e s u p p l i e s . .
O f f i c e s u p p l i e s
D e p r e c i a t i o n f o r t h e y e a r :
S t o r e e q u i p m e n t .
O f f i c e e q u i p m e n t
S a l a r i e s p a y a b l e o n D e c e m b e r 3 1 :
S a l e s s a l a r i e s . . .
O f f i c e s a l a r i e s
U n e a r n e d r e n t o n D e c e m b e r 3 1
$ 2 , 8 s 0
800
$ 1 s 7 , s 0 0
4 , 0 0 0
1 , 1 0 0
6 0 0
4 , 5 0 0
2 , 8 0 0
3 , 6 5 0
400
Sr::-.t-ll: ..tt: +::= -<
1 . P r e p a r e : r u ' o r k . s h e e t f i r r t i ' r c f i s c u l
v e a r e n c l e c l l ) e c e m b e r 3 1 , 2 0 0 6 . L i s t a l l

a c -
colrnts in tl-re orclcr given.
2 . P r e p a r e a r - n t r l t i p l e - s t c p i n c o m e : i t r r
t e m e n t .
J . l ) r e p r t r e l l s t l r t e n l r ' n l o f o u ' n e r " s c < l
L r i t r ' .
+ . P r e p a r e a r e p ( ) r t f o n n o f b a l u n c e s h e e t
, a s s r - r r n i n g t l i a t t h c c u n ' e n t p o r t i o n o f
t l ' r e
n o t e p l l / a b l e i s $ 1 5 . 0 0 0 .
5 . J o u r n a l i z e t h c a c l j u s t i n g e n t r i e s .
6 . . | o t r r n a l i z e t l ' r e c l o s i n g e n t r i e s .
Tom
Cross-Out
Tom
Inserted Text
Begin first with cash and continue until you get to the drawing
account. These are the Balance Sheet Accounts. The next are
listed directly underneath and in order and are the Income
Statement accounts which begin with Sales and ends with
Interest Expense.
Tom
Inserted Text
See Homework P5-8a, and the hand-out for Class 5 posted on
NYU Classes for correct format and style requirements.

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