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Exercise 4-9 (Part level Submission)
The adjusted trial balance for Plevin Company.
PLEVIN COMPANY
Adjusted Trial Balance
July 31, 2014
No.
Account Titles
Debit
Credit
101
Cash
$9,840
112
Accounts Receivable
8,780
157
Equipment
15,900
158
Accumulated Depreciation-Equip.
$7,400
201
Accounts Payable
4,220
208
Unearned Rent Revenue
1,800
301
Owner’s Capital
45,200
306
Owner’s Drawings
16,000
400
Service Revenue
64,000
429
Rent Revenue
6,500
711
Depreciation Expense
8,000
726
Salaries and Wages Expense
55,700
732
Utilities Expense
14,900
$129,120
$129,120
Warning
Don't show me this message again for the assignment
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(a1)
Your answer is correct.
Prepare an income statement for the year.
PLEVIN COMPANY
Income Statement
For the Year Ended July 31, 2014
res_EAT_1354256524140_0_1641511617394673_008
Service Revenue
$64000
Rent Revenue
6500
res_EAT_1354256524140_0_1641511617394673_028
$70500
res_EAT_1354256524140_0_1641511617394673_033
Salaries and Wages Expense
$55700
Utilities Expense
14900
Depreciation Expense
8000
res_EAT_1354256524140_0_1641511617394673_061
78600
res_EAT_1354256524140_0_1641511617394673_069
$(8,100)
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Show List of Accounts
Show Answer
Link to Text
Attempts: 1 of 3 used
(a2)
Prepare an owner’s equity statement for the year. Plevin did not
make any capital investments during the year. (List items that
increase owner's equity first.)
PLEVIN COMPANY
Owner’s Equity Statement
For the Year Ended July 31, 2014
$
:
$
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Click if you would like to Show Work for this question:
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Modify Show Work
Show List of Accounts
Link to Text
Attempts: 0 of 3 used
Save for later
Submit Answer
Exercise 4-11 (Part level Submission)
Prepare the closing entries that were made. (Credit account
titles are automatically indented when amount is entered. Do
not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
June 30
Service Revenue
18100
Income Summary
18100
(To close revenue account.)
June 30
Income Summary
13100
Salaries and Wages Expense
8800
Supplies Expense
1300
Rent Expense
3000
(To close expense account.)
June 30
Income Summary
5000
Owner's Capital
5000
(To close net income / (loss).)
June 30
Owner's Capital
2500
Owner's Drawings
2500
(To close drawings.)
Warning
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Ok
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Click if you would like to Show Work for this question:
Open Show Work
Show List of Accounts
Show Answer
Link to Text
Attempts: 1 of 3 used
(b)
Post the closing entries to Income Summary. (Post entries in the
order of journal entries posted in the previous part of the
question.)
Income Summary
June 30
June 30
June 30
June 30
Warning
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Click if you would like to Show Work for this question:
Open Show Work
Salaries and W
8800
Supplies Expe
1300
Rent Expense
3000
Income Summa
5000
res_EAT_135425
Owner's Capit
5000
Owner's Capit
2500
Owner's Draw
2500
Revenues
Service Reven
64000
Rent Revenue
6500
res_EAT_135425
Total Revenues
70500
res_EAT_135425
Expenses
Salaries and W
55700
Utilities Expens
14900
Depreciation E
8000
res_EAT_135425
Total Expenses
78600
res_EAT_135425
Net Income / (Loss)
(8,100)
Service Reven
18100
Income Summa
18100
Income Summa
13100
Exercise 4-9 (Part level Submission)The adjusted trial balan.docx

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Exercise 4-9 (Part level Submission)The adjusted trial balan.docx

  • 1. Exercise 4-9 (Part level Submission) The adjusted trial balance for Plevin Company. PLEVIN COMPANY Adjusted Trial Balance July 31, 2014 No. Account Titles Debit Credit 101 Cash $9,840 112 Accounts Receivable 8,780 157 Equipment 15,900
  • 2. 158 Accumulated Depreciation-Equip. $7,400 201 Accounts Payable 4,220 208 Unearned Rent Revenue 1,800 301 Owner’s Capital 45,200 306 Owner’s Drawings 16,000
  • 3. 400 Service Revenue 64,000 429 Rent Revenue 6,500 711 Depreciation Expense 8,000 726 Salaries and Wages Expense 55,700 732 Utilities Expense 14,900
  • 4. $129,120 $129,120 Warning Don't show me this message again for the assignment Ok Cancel (a1) Your answer is correct. Prepare an income statement for the year. PLEVIN COMPANY Income Statement For the Year Ended July 31, 2014
  • 5. res_EAT_1354256524140_0_1641511617394673_008 Service Revenue $64000 Rent Revenue 6500 res_EAT_1354256524140_0_1641511617394673_028 $70500 res_EAT_1354256524140_0_1641511617394673_033 Salaries and Wages Expense $55700 Utilities Expense 14900 Depreciation Expense 8000 res_EAT_1354256524140_0_1641511617394673_061 78600 res_EAT_1354256524140_0_1641511617394673_069 $(8,100) Warning Don't show me this message again for the assignment Ok Cancel
  • 6. Click if you would like to Show Work for this question: Open Show Work Show List of Accounts Show Answer Link to Text Attempts: 1 of 3 used (a2) Prepare an owner’s equity statement for the year. Plevin did not make any capital investments during the year. (List items that increase owner's equity first.) PLEVIN COMPANY Owner’s Equity Statement For the Year Ended July 31, 2014
  • 7. $ : $ Warning Don't show me this message again for the assignment Ok Cancel Click if you would like to Show Work for this question: Open Show Work Modify Show Work Show List of Accounts Link to Text
  • 8. Attempts: 0 of 3 used Save for later Submit Answer Exercise 4-11 (Part level Submission) Prepare the closing entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Service Revenue 18100
  • 9. Income Summary 18100 (To close revenue account.) June 30 Income Summary 13100 Salaries and Wages Expense 8800 Supplies Expense 1300 Rent Expense 3000 (To close expense account.) June 30 Income Summary 5000 Owner's Capital
  • 10. 5000 (To close net income / (loss).) June 30 Owner's Capital 2500 Owner's Drawings 2500 (To close drawings.) Warning Don't show me this message again for the assignment Ok Cancel Click if you would like to Show Work for this question: Open Show Work Show List of Accounts Show Answer Link to Text
  • 11. Attempts: 1 of 3 used (b) Post the closing entries to Income Summary. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary June 30 June 30 June 30 June 30 Warning Don't show me this message again for the assignment Ok
  • 12. Cancel Click if you would like to Show Work for this question: Open Show Work Salaries and W 8800 Supplies Expe 1300 Rent Expense 3000 Income Summa 5000 res_EAT_135425 Owner's Capit 5000 Owner's Capit 2500 Owner's Draw
  • 13. 2500 Revenues Service Reven 64000 Rent Revenue 6500 res_EAT_135425 Total Revenues 70500 res_EAT_135425 Expenses Salaries and W 55700 Utilities Expens 14900 Depreciation E
  • 14. 8000 res_EAT_135425 Total Expenses 78600 res_EAT_135425 Net Income / (Loss) (8,100) Service Reven 18100 Income Summa 18100 Income Summa 13100