strayer acc100 week 2 chapter 4 homework

Brief
Exercise 4-5
The
ledger of Rios Company contains the following balances: Owner’s Capital
$30,000; Owner’s Drawings $2,000; Service Revenue $50,000; Salaries and Wages
Expense$27,000; and Supplies Expense $7,000.
The
closing entries are as follows:
(1) Close
revenue accounts.
(2) Close
expense accounts.
(3) Close
net income/(loss)
(4) Close
drawings.

Post the
closing entries in the order presented in the problem and use the numbers as a
reference.
Salaries
and WagesExpense
Supplies Expense
Service Revenue
Owner’s Drawings
Income Summary
Owner’s Capital

Brief Exercise 4-7
The following selected accounts appear in the adjusted trial balance
columns of the worksheet for Goulet Company.Identify the accounts that would be
included in a post-closing trial balance.
Accumulated Depreciation
Depreciation Expense
Owner’s Capital
Owner’s Drawings
Service Revenue
Supplies
Accounts Payable

Brief Exercise 4-8
The steps in the accounting cycle are listed in random order below.List
the steps in proper sequence, assuming no worksheet is prepared, by placing
numbers 1–9.
(a) Prepare a trial balance.
(b) Journalize the transactions.
(c) Journalize and post closing entries.
(d) Prepare financial statements.
(e) Journalize and post adjusting entries.
(f) Post to ledger accounts.
(g) Prepare a post-closing trial balance.
(h) Prepare an adjusted trial balance.
(i) Analyze business transactions.

Brief
Exercise 4-10
The
balance sheet debit column of the worksheet for Hamidi Company includes the
following accounts: Accounts Receivable $12,500; Prepaid Insurance $3,600;
Cash$4,100; Supplies $5,200, and Debt Investments (short-term) $6,700.
Prepare
the current assets section of the balance sheet, listing the accounts in proper
sequence. (List current assets in order of liquidity.)

Exercise
4-1
The trial
balance columns of the worksheet for Nanduri Company at June 30, 2014, are as
follows.NANDURI COMPANYWorksheetFor the Month Ended June 30, 2014Trial
BalanceAccount Titles Dr. Cr.Cash 2,320Accounts Receivable 2,440Supplies
1,880Accounts Payable 1,120Unearned Service Revenue 240Owner’s Capital
3,600Service Revenue 2,400Salaries and Wages Expense 560Miscellaneous Expense 160
Total 7,360 7,360Other data:1. A physical count reveals $500 of supplies on
hand.2. $100 of the unearned revenue is still unearned at month-end.3. Accrued
salaries are $210.Complete the worksheet.NANDURI COMPANYWorksheetFor the Month
Ended June 30, 2014TrialBalance Adjustments Adj. Trial Balance Income
StatementAccountTitles Dr Cr. Dr Cr. Dr Cr. Dr Cr. DrCash
2,320AccountsReceivable 2,440Supplies 1,880AccountsPayable
1,120UnearnedServiceRevenue240Owner’sCapital 3,600ServiceRevenue 2,400Salaries
andWagesExpense560MiscellaneousExpense 160Totals
7,3607,360SuppliesExpenseSalaries andWagesPayableTotalsNet IncomeTotals

Exercise
4-9 (Part level Submission)
The
adjusted trial balance for Plevin Company .PLEVIN COMPANY Adjusted Trial
BalanceJuly 31, 2014No. Account Titles Debit Credit 101 Cash $9,840112 Accounts
Receivable 8,780157 Equipment 15,900158 Accumulated Depreciation-Equip.
$7,400201 Accounts Payable 4,220208 Unearned Rent Revenue 1,800301 Owner’s
Capital 45,200306 Owner’s Drawings 16,000400 Service Revenue 64,000429 Rent
Revenue 6,500711 Depreciation Expense 8,000726 Salaries and Wages Expense
55,700732 Utilities Expense 14,900$129,120 $129,120(a1)Prepare an income
statement for the year.PLEVIN COMPANY Income Statement For the Year Ended July
31, 2014$$$$(a2)Prepare an owner’s equity statement for the year. Plevin did
not make any capital investments during the year. (List items that increase
owner’s equity first.)PLEVIN COMPANY Owner’s Equity StatementFor the Year Ended
July 31, 2014$:$(b)Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.)PLEVIN COMPANYBalance SheetJuly 31, 2014Assets$$
Liabilities
and Owner’s Equity

Exercise
4-11 (Part level Submission)
Selected
accounts for Heather’s Salon are presented below. All June 30 postings are from
closing entries.Salaries and Wages Expense6/10 3,200 6/30 8,8006/28
5,600Supplies Expense6/12 600 6/30 1,3006/24 700Service Revenue6/30 18,100 6/15
9,7006/24 8,400Rent Expense6/1 3,000 6/30 3,000Owner’s Capital6/30 2,500 6/1
12,0006/30 5,000Bal. 14,500Owner’s Drawings6/13 1,000 6/30 2,5006/25
1,500(a)Prepare the closing entries that were made. (Credit account titles are
automatically indented when amount is entered. Do not indent manually.)(b)Post
the closing entries to Income Summary. (Post entries in the order of journal
entries posted in the previous part of the question.)
Income
Summary
June 30
June 30
June 30 June 30