A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 week 5

assignment_mod_05_3.xlsx

Module 05 Accounting Assignment – Closing Entries and the Post Closing Trial Balance

 

eview the adjusted trial balance for Smith construction for the period ending May 31 2010 in the

 Excel Template

.

Requirements:

  1. Prepare the Income Statement.
  2. Prepare the Statement of Retained Earnings.
  3. Prepare the Balance Sheet.
  4. Prepare the three closing entries.
  5. Prepare the Post Closing Trial Balance.

2

>M

5

Assignment

2010 is as follows:

7,240

Receivable

200

1,000

2,400

2,000

1,000

500

200

104,800

1

for the period ending May for Smith Construction.

Smith Construction
Income Statement
2

for Smith Construction for the Month of May.

Smith Construction

Statement of Retained Earnings
3

for Smith Construction as of May 31, 2010.

Smith Construction

Balance Sheet
May 31
4

Accounts

Debit Credit

5

.

Smith Construction

Post Closing Trial Balance
31-May
Account Debit Credit
Module 5 Assignment:
The adjusted trial balance for Smith construction for the period ending May

3 1
Smith Construction
Adjusted Trial Balance
31-May
Account Debit Credit
10. Cash 4
12. Accounts 8,080
13. Prepaid Insurance 1,000
14. Supplies 700
16. Equipment 24,000
17. Accumulated Depreciation equipment 2,400
18. Tools 1,

200
20. Accounts Payable
22. Unearned Revenue 2,000
24. Wages Payable
30. Common Stock 42,

500
32. Dividends 3,900
40. Service Revenue 56,700
50. Salary Expense 11,780
51. Depreciation Expense
52. Rent Expense
54. Repair Expense
56. Supplies Expense 800
57. Insurance Expense
59. Utilities Expense
Total 104,800
Requirements:
Prepare the

Income Statement
For the period Ended March 1 through

May 31
Prepare the

Statement of Retained Earnings
For the Period Ended March 1 through May 31
Prepare the

Balance Sheet
ASSETS Liabilities
STOCKHOLDER’S EQUITY
Prepare the three closing entries.
Journal
Date Post. Ref
Prepare the

Post Closing Trial Balance
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