Chapter 4 EXE Excel 1 
Chapter 4
Completing the Accounting Cycle
Exercises
(20-30 min.) E 4-13
Req. 1
Telegraphic Link
Worksheet
Month Ended November 30, 2012
ACCOUNT TITLE
TRIAL BALANCE
ADJUSTMENTS
ADJUSTED TRIAL BALANCE
INCOME STATEMENT
BALANCE SHEET
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
Cash
$4,000
$4,000
$4,000
Accounts receivable
3,200
(a) $600
3,800
3,800
Prepaid rent
1,900
(d) $500
1,400
1,400
Supplies
3,000
(e) 100
2,900
2,900
Equipment
34,800
34,800
34,800
Accumulated depreciation
$1,600
(b) 300
$1,900
$1,900
Accounts payable
5,400
5,400
5,400
Salary payable
(c) 800
800
800
Thomas, capital
35,700
35,700
35,700
Thomas, drawing
2,100
2,100
2,100
Service revenue
8,600
(a) 600
9,200
$9,200
Depreciation expense
(b) 300
300
$300
Salary expense
1,700
(c) 800
2,500
2,500
Rent expense
(d) 500
500
500
Utilities expense
600
600
600
Supplies expense
(e) 100 100 100
$51,300 $51,300 $2,300
$ 2,300 $53,000 $53,000
$4,000
$9,200
$49,000
$43,800
Net income
$5,200
$ 5,200
$9,200 $9,200
$49,000
$49,000
Req. 2 The net income for November was $5,200. (20-30 min.) E 4-16
Reqs. 1 and 2
Accounts receivable
Prepaid rent
Bal
3,200
Bal
1,900
(d)
500
(a)
600
Bal
1,400
Bal
3,800
Supplies
Accumulated depreciation
Bal
3,000
(e)
100
Bal
1,600
Bal
2,900
(b)
300
Bal
1,900
Salary payable
Thomas, capital
Bal
0
Clo
2,100
Bal
20,000
(c)
800
Clo
5,200
Bal
800
Bal
23,100
Thomas, drawing
Income summary
Bal
2,100
Clo
2,100
Clo
4,000
Clo
9,200
Bal
0
Clo
5,200
Bal
5,200
Bal
0
(continued) E 4-16
Reqs. 1 and 2
Completing the Accounting Cycle
Exercises
(20-30 min.) E 4-13
Req. 1
Telegraphic Link
Worksheet
Month Ended November 30, 2012
ACCOUNT TITLE
TRIAL BALANCE
ADJUSTMENTS
ADJUSTED TRIAL BALANCE
INCOME STATEMENT
BALANCE SHEET
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
Cash
$4,000
$4,000
$4,000
Accounts receivable
3,200
(a) $600
3,800
3,800
Prepaid rent
1,900
(d) $500
1,400
1,400
Supplies
3,000
(e) 100
2,900
2,900
Equipment
34,800
34,800
34,800
Accumulated depreciation
$1,600
(b) 300
$1,900
$1,900
Accounts payable
5,400
5,400
5,400
Salary payable
(c) 800
800
800
Thomas, capital
35,700
35,700
35,700
Thomas, drawing
2,100
2,100
2,100
Service revenue
8,600
(a) 600
9,200
$9,200
Depreciation expense
(b) 300
300
$300
Salary expense
1,700
(c) 800
2,500
2,500
Rent expense
(d) 500
500
500
Utilities expense
600
600
600
Supplies expense
(e) 100 100 100
$51,300 $51,300 $2,300
$ 2,300 $53,000 $53,000
$4,000
$9,200
$49,000
$43,800
Net income
$5,200
$ 5,200
$9,200 $9,200
$49,000
$49,000
Req. 2 The net income for November was $5,200. (20-30 min.) E 4-16
Reqs. 1 and 2
Accounts receivable
Prepaid rent
Bal
3,200
Bal
1,900
(d)
500
(a)
600
Bal
1,400
Bal
3,800
Supplies
Accumulated depreciation
Bal
3,000
(e)
100
Bal
1,600
Bal
2,900
(b)
300
Bal
1,900
Salary payable
Thomas, capital
Bal
0
Clo
2,100
Bal
20,000
(c)
800
Clo
5,200
Bal
800
Bal
23,100
Thomas, drawing
Income summary
Bal
2,100
Clo
2,100
Clo
4,000
Clo
9,200
Bal
0
Clo
5,200
Bal
5,200
Bal
0
(continued) E 4-16
Reqs. 1 and 2