microsoft excel

This looks much easier if I can send as a document. I have this test due before midnight tomorrow for ACCT 100. I have to plug these numbers in to the balance sheet, income statement, general journal, general ledger, work sheet, statement of owners equity, adjusting entries and post closing trial balance. I have a lot of assignments like these and if you can help with this one I would greatly appreciate and continue to send work your way! If you can send me an email I can forward the documents to you to explain better. Miller Design Studio Post-Closing Trial Balance July 31, 2011 Cash $22,480 Accounts Receivable 5,000 Offi ce Supplies 3,660 Prepaid Rent 1,600 Offi ce Equipment 16,320 Accumulated Depreciation–Offi ce Equipment $ 300 Accounts Payable 6,280 Unearned Design Revenue 600 Wages Payable 720 J. Miller, Capital 41,160 $49,060 $49,060 During August, the studio engaged in these transactions: Aug. 1 Received an additional investment of cash from J. Miller, $20,000. 2 Purchased additional office equipment with cash, $4,700. 7 Purchased additional office supplies for cash, $540. 8 Completed the series of designs that began on July 31 and billed for the total design services performed, including the accrued revenues of $800 that had been recognized in an adjusting entry in July, $1,400. 12 Paid the amount due for the office equipment purchased last month, $3,000. 13 Accepted an advance in cash for design work to be done, $2,400. 15 Performed design services and received a cash fee, $2,900. 16 Received payment on account for design services performed last month, $2,800. 19 Made a partial payment on the utilities bill that was received and recorded at the end of July, $140. 20 Performed design services for Rave Department Stores and agreed to accept payment next month, $3,200. 21 Performed design services for cash, $1,160. 22 Received and paid the utilities bill for August, $900. 23 Paid the assistant for four weeks’ wages, $4,800. 26 Paid the rent for September in advance, $1,600. 30 Paid cash to J. Miller as a withdrawal for personal expenses, $2,800. Required 1. Record entries in journal form and post to the ledger accounts the optional reversing entries on August 1 for Wages Payable and Accounts Receivable (see adjustment for unrecorded wages on page 116 and adjustment for design revenue on page 119). (Begin the general journal on page 5.) 2. Record the transactions for August in journal form. 3. Post the August transactions to the ledger accounts. 4. Prepare the Trial Balance columns of a work sheet. Miller Design Studio Post-Closing Trial Balance July 31, 2011 Cash $22,480 Accounts Receivable 5,000 Offi ce Supplies 3,660 Prepaid Rent 1,600 Offi ce Equipment 16,320 Accumulated Depreciation–Offi ce Equipment $ 300 Accounts Payable 6,280 Unearned Design Revenue 600 Wages Payable 720 J. Miller, Capital 41,160 $49,060 $49,060 Copyright 2010 Cengage Learning, Inc. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. 5. Prepare adjusting entries and complete the work sheet using the information below. a. One month’s prepaid rent has expired, $1,600. b. An inventory of supplies reveals $2,020 still on hand on August 31. c. Depreciation on equipment for August is calculated to be $300. d. Services performed for which payment had been received in advance totaled $1,300. e. Services performed that will not be billed until September totaled $580. f. Wages accrued by the end of August, $720. 6. From the work sheet, prepare an income statement, a statement of owner’s equity, and a balance sheet for August 31, 2011. 7. Record the adjusting entries on August 31, 2011, in journal form, and post them to the ledger accounts. 8. Record the closing entries on August 31, 2011, in journal form, and post them to the ledger accounts. 9. Prepare a post-closing trial balance at August 31, 2011.

2

>Ch4 CP

1

:

Date

11

1

1

Aug. 1

2

Name:

Course:

Date

Chapter 4, Comprehensive Problem

General Journal

Page 5

Post.

Description

Ref.

Debit

Credit

1.

Reversing entries:

20

Aug.

2.

Entries:

7

8

12

13

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©

2011

Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 2

General Journal

Post.
Date Description Ref. Debit Credit
2011

Aug.

20

											Chapter 4, Comprehensive Problem (Continued)
Page 6
		15
		16
			19
		21
		22
		23
		26
		30

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 3

Chapter 4, Comprehensive Problem (Continued)

1.

Post.

Date

Ref. Debit Credit Debit Credit

2011

Aug. 1
2
7
12
13

15

16
19
21
22
23
26
30

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

Aug. 1
8
16
20

31

Reversing entries prepared and posted

3.

Transactions for August journalized and posted

7 and 8.

Adjusting and closing entries prepared and posted

General Ledger

Cash

Account No. 111

Balance

Item

July

31

2,

800

22,480

Accounts Receivable

Account No. 113

400

5,000

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 4

Chapter 4, Comprehensive Problem (Continued)

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

Aug. 7

31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

1,600

Aug. 26

31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

16,320

Aug. 2

Office Equipment

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

300

Aug. 31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

Aug. 12

19

	Office Supplies	Account No. 115
3,660
	Prepaid Rent	Account No. 117
	1,	600
				Office Equipment		Account No. 146
			16,320
		Accumulated Depreciation—		Account No. 147
			300
		Accounts Payable		Account No. 212
	6,280

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 5

Chapter 4, Comprehensive Problem (Continued)
Office Equipment Account No. 146
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 16,320 16,320
Aug. 2
Accumulated Depreciation—Office Equipment Account No. 147
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 300 300
Aug. 31
Accounts Payable Account No. 212
Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
July 31 6,280
Aug. 12
19

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31 800 600
Aug. 13

31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

720

Aug. 1
31

Unearned		Design	Revenue	Account No. 213
	Wages Payable	Account No. 214
	720

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 6

Chapter 4, Comprehensive Problem (Continued)

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

July 31

Aug. 1
31
31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

Aug. 30

31

Summary

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31
31

Design Revenue

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 1
8
15
20
21
31
31
31

	J. Miller, Capital	Account No. 311
41,160
	J. Miller, Withdrawals	Account No. 312
	Income	Account No. 313
Account No. 411

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 7

Chapter 4, Comprehensive Problem (Continued)

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 1
23
31
31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011

Aug. 22

31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31

Office Equipment

Post. Balance
Date Item Ref. Debit Credit Debit Credit
2011
Aug. 31
31

	Wages Expense	Account No. 511
	Utilities Expense	Account No. 512
	Rent Expense	Account No. 514
	Office Supplies Expense	Account No. 517
	Depreciation Expense—	Account No. 519

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 8

Chapter 4, Comprehensive Problem (Continued)

Income Balance

Trial Balance

Sheet

Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

Cash
Accounts Receivable
Office Supplies
Prepaid Rent
Office Equipment
Accumulated Depreciation—

Office Equipment

Accounts Payable
J. Miller, Capital
J. Miller, Withdrawals
Design Revenue
Wages Expense
Utilities Expense
Rent Expense
Depreciation Expense—

Office Equipment

Wages Payable
Office Supplies Expense

`
4. Trial balance amounts entered on the work sheet
				Miller Design Studio
Work	Sheet
		For the Month Ended		August 31, 2011
Adjusted
	Trial Balance	Adjustments	Statement
Account Name
Unearned Design Revenue
Net Income

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&”Times New Roman,Regular”&9© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 9

Chapter 4, Comprehensive Problem (Continued)

Miller Design Studio

For the Month Ended August 31, 2011

Revenue

Miller Design Studio

For the Month Ended August 31, 2011

6.	Income statement, statement of owner’s equity, and balance sheet prepared
Income Statement
Expenses
Total expenses
Net income
Statement of	Owner’s Equity
J. Miller, capital, August 1, 2011
Subtotal
J. Miller, capital, August 31, 2011

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 10

Chapter 4, Comprehensive Problem (Continued)
Miller Design Studio

August 31, 2011
Owner’s Equity

Balance Sheet

Assets

Total assets

Liabilities

Total liabilities

Total owner’s equity

Total liabilities and owner’s equity

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 11

Chapter 4, Comprehensive Problem (Continued)

Post.
Date Description Ref. Debit Credit

2011

Aug. 31

31

31
31
31
31

Page 7
Adjusting entries:
–	=

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 12

Chapter 4, Comprehensive Problem (Continued)

General Journal

Post.

Date Description Ref. Debit Credit

2011
Aug. 31
31
31
31

Page 8

Closing entries:

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.

Ch4 CP 13

Chapter 4, Comprehensive Problem (Continued)

Miller Design Studio

August 31, 2011

9.	Post-closing trial balance prepared
Post-Closing Trial Balance

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© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.