Kelly ConsultingPost-closing Trial BalanceApril 30, 2008
a) Journalize the following transactions using the file called student Template.b) Post them to the general ledgers or T accounts using the same file.1) Received cash from clients as an advance payment for services to be provided and recorded it asunearned fees, $1,550.2) Received cash from clients on account, $1,750.3) Paid cash for a newspaper advertisement, $1004) Paid Office Station Co., previously posted to accounts payable for, $4005) Recorded services provided on account for the period May 1-15, $5,100.6) Paid part-time receptionist for two weeks’ salary including the amount owed on April 30, $7507) Recorded cash received from cash clients for fees earned during the period May 1-16, $7,3808) Purchased supplies on account, $500.9) Recorded services provided on account for the period May 16-20, $2,90010)Recorded cash from cash clients for fees earned for the period May 17-23, $4,200.11) Received cash from clients on account, $6,600.12) Paid part-time receptionist for two weeks’ salary, $750
Woods corporationUnadjusted Trial BalanceDecember 31, 2014
a) Journalize the following adjusting entries as of 12/31/2014. Assume that all adjustments aremade on a monthly basis. Woods corporation fiscal year ends on 1/31b) Post the adjusting entries to the unadjusted trial balance and prepare the adjusted trial balance.A) The equipment was purchased on January 1 of this year. It has a 10 year life. There is nosalvage value. Use the straight line method.B) The amount of supplies on hand as of December 31 is $1000.00C) Fees earned and unbilled $ 1,200D) Additional fees earned (collected in prior periods) $ 800.00Account title Debit CreditCash 18,570Accounts Receivables 11,900Supplies 1,820Prepaid Rent 750Equipment 12,000Accumulated Depreciation 1,100Accounts payable 1,050Unearned Fees 2,800Capital 37,800Dividends 1400Fees earned 51450Wages Expense 28210Rent expense 2250Utilities expense 16040Miscellaneous Expenses 1260Total $94,200 $94,200 E) Wages incurred and not paid $ 700F) Rent was prepaid on February 1 of this year for one year in the amount of $3000
M&D IncAdjusted Trial Balance12/31/14Complete the income statement and balance sheets columns of the worksheet using the followinginformation.
Harvest incorporatedAdjusted Trial BalanceDecember 31, 2014
Requirements:a) Prepare an income statement for the year ending 12/31/2014.b) Prepare a balance sheet as of 12/31/2014
Use the information provided below to prepare closing entries on 12/31/2014 and then prepare thepost-closing trial balances as of 12/31/2014.EZ IncIncome StatementFor the year ended December 31, 2014