Chapter 4 Serial Problem 101 Cash 186 Accounts receivable 126 Computer supplies

Question

Chapter 4 Serial Problem 101 Cash 186 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services reven 301 S. Rey, Capital 302 S. Rey, Withdrawals 403 Computer services revenue 612 Depreciation expense Office equipment 613 Depreciation expense Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Hileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer 901 Income summary $51,612 4,568 650 1,530 748 8,880 100 points 440 22,800 eBook Print References 1,375 1,700 420 2,300 73.eee 8,000 34,964 440 1,375 3,225 510 2,220 3,595 2,693 836 170 1,235 Totals $ 114,199 $ 114, 199 Mc Graw Hill

Explanation / Answer

Closing entries: Accounts title and explanations Debit $ Credit $ Computer service revenue Account Dr. 34964    Income Summary 34964 Income Summary Account Dr. 16299     Depreciation-office equipment 440     Depreciation-Computer equipment 1375     Wages expense 3225     Insurance expense 510     Rent expense 2220     Computer Supplies expense 3595     Advertising expense 2693     Mileage expense 836      Miscc expense 170      Repairs expense 1235       Income Summary Accounts Dr. 18665       S. Rey capital 18665 S.Rey Capital Account Dr. 8000      S. Rey Withdrawals Account 8000 Post Closing Trial Balance Debit Credit Cash 51612 Accounts receivable 4568 Computer Supplies 650 Prepaid insurance 1530 Prepaid rent 740 Office equipment' 8800 Accumulated depreciation 440 Computer Equipment 22000 Accumulated depreciation 1375 Accounts payable 1700 Wages payable 420 Unearned computer service revenue 2300 S. Rey capital (73000-8000+18665) 83665 TOTAL 89900 89900

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