Completing the Accounting Cycle

The trial balance columns of the worksheet for Dixon Company at June 30, 2019, are as follows
DIXON COMPANY
Worksheet
For the Month Ended June 30, 2019
Other data
  1. A physical count reveals only $500 of supplies on hand
  2. $100 of the unearned revenue is still unearned at month-end
  3. Accrued salaries are $210.

Instructions

Enter the trial balance on a worksheet and complete the worksheet.

The adjusted trial balance columns of the worksheet for Savaglia Company are as follows

Savaglia Company
Worksheet (partial)
For the Month Ended April 30, 2020

Instruction

Complete the worksheet

Worksheet data for Savaglia Company are present as follows

Savaglia Company
Worksheet (partial)
For the Month Ended April 30, 2020
The owner did not make any additional investments in the business in April

Instruction

Prepare an income statement, an owner's equity statement, and a classified balance sheet.

The adjustments columns of the worksheet for Becker Company are shown below.

Instructions

  1. Prepare the adjusting entries
  2. Assuming the adjusted trial balance amount for each account is normal. Indicate the financial statement column to which each balance should be extended.

Selected worksheet data for Rose Company are presented below.

Instructions

  1. Fill the missing amounts
  2. Prepare the adjusting entries that were made

Okabe Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is shown below
Okabe Company
Adjusted Trial Blance
July 31, 2020

Instruction

  1. journalize the closing entries using page J15.
  2. Post to Owner's Capital and No. 350 Income Summary accounts. (Use the three-column form.)
  3. Prepare a post-closing trial balance at July 31.

Problems: Completing the Accounting Cycle

Problem-1: Completing the Accounting Cycle

The trial balance columns of the worksheet for Wareen Roofing at March 31, 2019, are as follows. Wareen Roofing Worksheet For the Month Ended March 31, 2019 Other data A...

Problem-2: Completing the Accounting Cycle

The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follows. Thao Company Worksheet For the Year Ended December 31, 2019 Instructions Complete...

Problem-3: Completing the Accounting Cycle

The completed financial statement columns of the worksheet for Bray Company are shown as follows. Bray Company Worksheet For the Year Ended December 31, 2019 Instructions Prepare an income statement,...

Problem-4: Completing the Accounting Cycle

Vang Management Services began business on January 1, 2019, with a capital investment of $120,000. the company manages condominiums for owners (Service Revenue) and rents space in its own office...

Problem-5: Completing the Accounting Cycle

Anya Clark opened Anya's Cleaning Service on July 1, 2019. During July, the following transactions were completed. July 1Anya invested $20,000 cash in the business. 1Purchased used truck for $12,000,...

Problem-6: Completing the Accounting Cycle

Casey Hartwig, CPA, was retained by Global Cable to prepare financial statements for April 2019. Hartwig accumulated all the ledger balances per Global's records and found the following. Global Cable...

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