Chapter 4 Lecture Assignment (part 1) Hide or show questions eBook Calculator Ap
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Chapter 4 Lecture Assignment (part 1)
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Appendix: Completing an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co. If a box does not require an entry, leave it blank.
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Chapter 4 Lecture Assignment (part 1)
EX.04-24
EX.04-25.ALGO
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Appendix: Adjustment Data on an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 2019. In addition, the data for year-end adjustments are as follows:
Fees earned, but not yet billed, $13.
Supplies on hand, $4.
Insurance premiums expired, $10.
Depreciation expense, $3.
Wages accrued, but not paid, $1.
Enter the adjustment data, and place the balances in the Adjusted Trial Balance columns. If a box does not require an entry, leave it blank.
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Alert Security Services Co.End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 2019 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 373 Accounts Receivable 2,737 Supplies 124 Prepaid Insurance 93 Land 3,110 Equipment 1,244 Accum. Depr.-Equipment 249 Accounts Payable 1,120 Wages Payable 124 Brenda Schultz, Capital 5,410 Brenda Schultz, Drawing 249 Fees Earned 3,048 Wages Expense 746 Rent Expense 373 Insurance Expense 311 Utilities Expense 218 Supplies Expense 187 Depreciation Expense 124 Miscellaneous Expense 62 Totals 9,951 9,951 Net income (loss)
Explanation / Answer
Answer
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 2019
Adjusted Trial Balance
Income Statement
Balance Sheet
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
$ 373.00
$ 373.00
Accounts Receivable
$ 2,737.00
$ 2,737.00
Supplies
$ 124.00
$ 124.00
Prepaid Insurance
$ 93.00
$ 93.00
Land
$ 3,110.00
$ 3,110.00
Equipment
$ 1,244.00
$ 1,244.00
Accum. Depr.-Equipment
$ 249.00
$ 249.00
Accounts Payable
$ 1,120.00
$ 1,120.00
Wages Payable
$ 124.00
$ 124.00
Brenda Schultz, Capital
$ 5,410.00
$ 5,410.00
Brenda Schultz, Drawing
$ 249.00
$ 249.00
Fees Earned
$ 3,048.00
$ 3,048.00
Wages Expense
$ 746.00
$ 746.00
Rent Expense
$ 373.00
$ 373.00
Insurance Expense
$ 311.00
$ 311.00
Utilities Expense
$ 218.00
$ 218.00
Supplies Expense
$ 187.00
$ 187.00
Depreciation Expense
$ 124.00
$ 124.00
Miscellaneous Expense
$ 62.00
$ 62.00
Totals
$ 9,951.00
$ 9,951.00
$ 2,021.00
$ 3,048.00
$ 7,930.00
$ 6,903.00
Net income (loss)
$ 1,027.00
$ 1,027.00
TOTAL
$ 9,951.00
$ 9,951.00
$ 3,048.00
$ 3,048.00
$ 7,930.00
$ 7,930.00
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 2019
Account Title
Unadjusted Trial Balance Debit
Unadjusted Trial Balance Credit
Adjustments Debit
Adjustments Credit
Adjusted Trial Balance Debit
Adjusted Trial Balance Credit
Cash
$ 12.00
$ 12.00
Accounts Receivable
$ 90.00
$ 13.00
$ 103.00
Supplies
$ 8.00
$ 4.00
$ 4.00
Prepaid Insurance
$ 12.00
$ 10.00
$ 2.00
Land
$ 190.00
$ 190.00
Equipment
$ 50.00
$ 50.00
Accum. Depr.-Equipment
$ 4.00
$ 3.00
$ 7.00
Accounts Payable
$ 36.00
$ 36.00
Wages Payable
$ -
$ 1.00
$ 1.00
Brenda Schultz, Capital
$ 260.00
$ 260.00
Brenda Schultz, Drawing
$ 8.00
$ 8.00
Fees Earned
$ 200.00
$ 13.00
$ 213.00
Wages Expense
$ 110.00
$ 1.00
$ 111.00
Rent Expense
$ 12.00
$ 12.00
Insurance Expense
$ -
$ 10.00
$ 10.00
Utilities Expense
$ 6.00
$ 6.00
Supplies Expense
$ -
$ 4.00
$ 4.00
Depreciation Expense
$ -
$ 3.00
$ 3.00
Miscellaneous Expense
$ 2.00
$ 2.00
Totals
$ 500.00
$ 500.00
$ 31.00
$ 31.00
$ 517.00
$ 517.00
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 2019
Adjusted Trial Balance
Income Statement
Balance Sheet
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
$ 373.00
$ 373.00
Accounts Receivable
$ 2,737.00
$ 2,737.00
Supplies
$ 124.00
$ 124.00
Prepaid Insurance
$ 93.00
$ 93.00
Land
$ 3,110.00
$ 3,110.00
Equipment
$ 1,244.00
$ 1,244.00
Accum. Depr.-Equipment
$ 249.00
$ 249.00
Accounts Payable
$ 1,120.00
$ 1,120.00
Wages Payable
$ 124.00
$ 124.00
Brenda Schultz, Capital
$ 5,410.00
$ 5,410.00
Brenda Schultz, Drawing
$ 249.00
$ 249.00
Fees Earned
$ 3,048.00
$ 3,048.00
Wages Expense
$ 746.00
$ 746.00
Rent Expense
$ 373.00
$ 373.00
Insurance Expense
$ 311.00
$ 311.00
Utilities Expense
$ 218.00
$ 218.00
Supplies Expense
$ 187.00
$ 187.00
Depreciation Expense
$ 124.00
$ 124.00
Miscellaneous Expense
$ 62.00
$ 62.00
Totals
$ 9,951.00
$ 9,951.00
$ 2,021.00
$ 3,048.00
$ 7,930.00
$ 6,903.00
Net income (loss)
$ 1,027.00
$ 1,027.00
TOTAL
$ 9,951.00
$ 9,951.00
$ 3,048.00
$ 3,048.00
$ 7,930.00
$ 7,930.00
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