26
27
28
29
30
31
32
33
34
28
29
30
31
32
33
34
20
19
18
17
27
26,408.00
26,408.00
25
43,400.00
43,400.00
16
26
23,856.00
19,544.00
43,400.00
425.00
6,864.00
19,544.00
26,408.00
15
14
13
12
11
10
9
8
7
6
24
50,264.00
425.00
50,264.00
320.00
18,925.00
2,400.00
328.00
736.00
926.00
221.00
43,400.00
5
4
3
25
425.00
745.00
43,400.00
19,000.00
700.00
5,739.00
2
1
23
(b)
320.00
18,925.00
2,400.00
328.00
736.00
926.00
221.00
19,000.00
700.00
5,739.00
3,948.00
3,460.00
CREDIT
BALANCE SHEET
DEBIT
24
745.00
320.00
425.00
320.00
CREDIT
INCOME STATEMENT
DEBIT
22
(a)
(b)
(a)
CREDIT
23
49,519.00
43,400.00
380.00
5,739.00
3,948.00
3,460.00
DEBIT
ADJUSTED TRIAL BALANCE
21
18,500.00
2,400.00
328.00
736.00
926.00
221.00
49,519.00
19,000.00
3,948.00
3,460.00
CREDIT
ADJUSTMENTS
DEBIT
22 (b) Accrued wages, $425
Net Income
Depreciation Expense,
Office Equipment
Wages Payable
Cash
Office Equipment
Accumulated Depreciation,
Office Equipment
K. Ulmer, Capital
K. Ulmer, Drawing
Fees Earned
Wages Expense
Rent Expense
Office Supplies Expense
Telephone Expense
Advertising Expense
Miscellaneous Expense
CREDIT
TRIAL BALANCE
DEBIT
Ulmer Tour Company
Work Sheet
For Month Ended December 31, 2009
21 (a) Depreciation of office equipment, $380
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
ACCOUNT NAME
Problem 5-3A
Problem 5-3A or 5-3B (continued)
GENERAL JOURNAL
DATE
DESCRIPTION
PAGE
POST.
REF.
DEBIT
17
CREDIT
1
1
2
2
3
3
4
4
5
5
6
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
17
17
18
18
20
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
Problem 5-3A or 5-3B (3 of (2)
NAME __________________________
DATE _________________
CLASS _________________
Problem 5-3A or 5-3B (continued)
GENERAL JOURNAL
DATE
1
2
2009
Dec
3
DESCRIPTION
Adjusting Entries
31 Depreciation Exp., Office Equipment
Accum. Depr., Office Equipment
4
5
6
9
10
13
14
15
16
17
18
19
Closing Entries
31 Fees Earned
Income Summary
20
31 Income Summary
Wages Expense
Rent Expense
Office Supplies Expense
Depr. Exp., Office Equipment
Telephone Expense
Advertising Expense
Miscellaneous Expense
23
1
2
3
5
6
8
9
10
12
13
14
15
16
17
18
19
17
31 Income Summary
K. Ulmer, Capital
21
22
CREDIT
11
17
18
DEBIT
7
11
12
POST.
REF.
17
4
31 Wages Expense
Wages Payable
7
8
PAGE
18
20
21
31 K. Ulmer, Capital
K. Ulmer, Drawing
22
23
24
24
25
25
26
26
27
27
28
28
29
29
140
Copyright © Houghton Mifflin Company. All rights reserved.
Problem 5-3A or 5-3B (continued)
GENERAL LEDGER
ACCOUNT
DATE
Cash
ACCOUNT NO.
ITEM
2009
Dec. 31
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
POST.
REF.
BALANCE
DEBIT
CREDIT
POST.
REF.
POST.
REF.
CREDIT
K. Ulmer
ITEM
K. Ulmer
ITEM
DEBIT
CREDIT
ACCOUNT NO.
CREDIT
DEBIT
CREDIT
CREDIT
DEBIT
CREDIT
ACCOUNT NO.
311
BALANCE
DEBIT
CREDIT
, Drawing
POST.
REF.
222
BALANCE
DEBIT
, Capital
POST.
REF.
125
BALANCE
DEBIT
ACCOUNT NO.
POST.
REF.
124
BALANCE
DEBIT
Wages Payable
ITEM
CREDIT
ACCOUNT NO.
Accumulated Depreciation, Office Equipment
ITEM
DEBIT
3,948.00
Office Equipment
ITEM
111
DEBIT
CREDIT
ACCOUNT NO.
312
BALANCE
DEBIT
CREDIT
DEBIT
CREDIT
Problem 5-3A or 5-3B (continued)
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
Income Summary
ITEM
ACCOUNT NO.
POST.
REF.
BALANCE
DEBIT
CREDIT
Fees Earned
ITEM
CREDIT
POST.
REF.
CREDIT
CREDIT
DEBIT
512
BALANCE
DEBIT
CREDIT
DEBIT
CREDIT
ACCOUNT NO.
POST.
REF.
511
CREDIT
ACCOUNT NO.
POST.
REF.
411
BALANCE
DEBIT
Office Supplies Expense
ITEM
DEBIT
ACCOUNT NO.
Rent Expense
ITEM
CREDIT
BALANCE
DEBIT
Wages Expense
ITEM
DEBIT
ACCOUNT NO.
POST.
REF.
313
513
BALANCE
DEBIT
CREDIT
DEBIT
CREDIT
Problem 5-3A or 5-3B (concluded)
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
ACCOUNT
DATE
Depreciation Expense, Office Equipment
POST.
REF.
ITEM
ACCOUNT NO.
BALANCE
DEBIT
CREDIT
Telephone Expense
CREDIT
DEBIT
POST.
REF.
516
BALANCE
DEBIT
CREDIT
DEBIT
CREDIT
ACCOUNT NO.
POST.
REF.
515
CREDIT
ACCOUNT NO.
Miscellaneous Expense
ITEM
CREDIT
BALANCE
DEBIT
Advertising Expense
ITEM
DEBIT
ACCOUNT NO.
POST.
REF.
ITEM
514
519
BALANCE
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
Ulmer Tour Company
Post-Closing Trial Balance
December 31, 2009
ACCOUNT NAME
Cash
Office Equipment
Accumulated Depreciation, Office Equipment
Wages Payable
K. Ulmer, Capital
Objectives:
1.
Journalize and post closing entries for a service enterprise.
2.
Prepare a post-closing trial balance
Problem 5-3A, page 175
The completed work sheet for Ulmer Tour Company as of December 31 is presented in your
Working Papers, along with the general ledger as of December 31 before adjustments.
Instructions
1.
Write the name of the owner, K. Ulmer, in the Capital and Drawing accounts.
2.
Write the balances from the unadjusted trial balance in the general ledger.
3.
Journalize and post the adjusting entries.
4.
Journalize and post the closing entries in the correct order:
Revenue accounts are closed to Income Summary
Expense accounts are closed to Income Summary
Income Summary is closed to the Capital account
Drawing is closed to the Capital account
5.
Prepare a post-closing trial balance. Only your real accounts (assets, liabilities and
Capital) should have balances after you have closed the books.
Check Figure
Post-closing trial balance total, $7,408