P.

4-3A
Bray Company
Income Statement
For the month ended December 31, 2017
Debit Credit
Revenues
Service revenue $60,000
Expenses
Salaries and wages expense $30,000
Maintenance and repairs expense $1,700
Insurance expense $1,800
Depreciation expense $2,800
Utilities expense $1,400
Total expenses $37,700
Net income $22,300

Bray Company
Owners Equity Statement
For the month ended December 31, 2017
Owners capital, December 1 $19,500
Add: Net Income $22,300
$41,800
Less: Drawings ($11,000)
Owners capital, December 31 $30,800

Bray Company
Balance Sheet
December 31, 2017
Assets
Cash $8,800
Accounts receivable $10,800
Prepaid insurance $2,800
Equipment $ 24,000
Less: accumulated depreciation equipment $ 4,200
$19,800 $22,400
Total assets $42,200
Liabilities and Owners Equity
Liabilities
Salaries and wages payable $2,400
Accounts payable $9,000
Total liabilities $11,400
Owners equity
Owners capital $30,800
Total liabilities and owners equity $42,200
 General Journal (J15)
Date
Account Titles and Explanation Ref. Debit Credit
2017
December 31 Service revenue 400 $60,000
Income summary 350 $60,000
Income summary 350 $37,700
Depreciation expense 711 $2,800
Salaries and wages expense 726 $30,000
Utilities expense 732 $1,400
Insurance expense 722 $1,800
Maintenance and repairs expense 622 $1,700
Income summary 350 $22,300
Owners capital 301 $22,300
Owners capital 301 $11,000
Owners drawings 306 $11,000

Income summary
Owners capital
Debit Credit
Debit Credit
Owners $37,700
drawings $60,000
$11,000 Bal. $19,500
Debit $22,300
Credit
Bal. $30,800 $22,300
Bal. expense
Maintenance and repairs $11,000 $11,000
Debit Credit
Salaries and wages Insurance expense
Bal. $1,700 $1,700
expense Maintenance Debit
andexpense
repairs expense Credit
Depreciation
Debit Credit
Debit Bal. $1,800
Credit $1,800
Debit Credit
Bal. $30,000 $30,000
Bal.Bal.
$1,700 $1,700
$2,800 $2,800
BRAY COMPANY
Post-Closing Trial Balance
July 31, 2017
Debit Credit
Cash $8,800
Accounts receivable $10,800
Prepaid insurance $2,800
Equipment $24,000
Accumulated depreciation equipment $4,200
Accounts payable $9,000
Salaries and wages payable $2,400
Owners capital $30,800
$46,400 $46,400
P. 4-5A
General Journal (J1)
Date
Account Titles and Explanation Ref. Debit Credit
2017
July 1 Cash 101 $20,000
Owners Capital 301 $20,000
Equipment 157 $12,000
Cash 101 $4,000
Accounts Payable 201 $8,000
3 Supplies 126 $2,100
Accounts Payable 201 $2,100
5 Prepaid Insurance 130 $1,800
Cash 101 $1,800
12 Accounts Receivable 112 $4,500
Service Revenue 400 $4,500
18 Accounts Payable 201 $1,500
Cash 101 $1,500
Accounts Payable 201 $1,400
Cash 101 $1,400
20 Salaries and Wages Expense 726 $2,800
Cash 101 $2,800
21 Cash 101 $3,400
Accounts Receivable 112 $3,400
25 Accounts Receivable 112 $6,000
Service Revenue 400 $6,000
31 Gasoline Expense 633 $350
Cash 101 $350
Owners Drawings 306 $5,600
Cash 101 $5,600
Total $62,150 $62,150

Cash (101)
Date Explanation Ref Debit Credit Balance
July 31 J1 $20,000 $20,000
J1 $4,000 $16,000
J1 $1,800 $14,200
J1 $1,500 $12,700
J1 $1,400 $11,300
J1 $2,800 $8,500
J1 $3,400 $11,900
J1 $350 $11,550
J1 $5,600 $5,950
Accounts Receivable (112)
Date Explanation Ref Debit Credit Balance
July 31 J1 $4,500 $4,500
J1 $3,400 $1,100
J1 $6,000 $7,100
Adjusting J2 $2,700 $9,800
 Supplies (126)
Date Explanation Ref Debit Credit Balance
July 31 J1 $2,100 $2,100
Adjusting J2 $1,500 $600

Prepaid Insurance (130)

Date Explanation Ref Debit Credit Balance
July 31 J1 $1,800 $1,800
Adjusting J2 $150 $1,650

Equipment (157)
Date Explanation Ref Debit Credit Balance
July 31 J1 $12,000 $12,000

Accumulated Depreciation Equipment (158)

Date Explanation Ref Debit Credit Balance
July 31 Adjusting J2 $500 $500

Accounts Payable (201)

Date Explanation Ref Debit Credit Balance
July 31 J1 $8,000 $8,000
J1 $2,100 $10,100
J1 $1,500 $8,600
J1 $1,400 $7,200

Salaries and Wages Payable (212)

Date Explanation Ref Debit Credit Balance
July 31 Adjusting J2 $1,000 $1,000

Owners Capital (301)

Date Explanation Ref Debit Credit Balance
July 31 J1 $20,000 $20,000
Closing J3 $6,900 $26,900
Closing J3 $5,600 $21,300

Owners Drawings (306)

Date Explanation Ref Debit Credit Balance
July 31 J1 $5,600 $5,600
Closing J3 $5,600 $0

Income Summary (350)

Date Explanation Ref Debit Credit Balance
July 31 Closing J3 $13,200 $13,200
Closing J3 $6,300 $6,900
Closing J3 $6,900 $0
 Service Revenue (400)
Date Explanation Ref Debit Credit Balance
July 31 J1 $6,000 $6,000
J1 $4,500 $10,500
Adjusting J2 $2,700 $13,200
Closing J3 $13,200 $0

Supplies Expense (631)

Date Explanation Ref Debit Credit Balance
July 31 Adjusting J2 $1,500 $1,500
Closing J3 $1,500 $0

Gasoline Expense (633)

Date Explanation Ref Debit Credit Balance
July 31 J1 $350 $350
Closing J3 $350 $0

Depreciation Expense (711)

Date Explanation Ref Debit Credit Balance
July 31 Adjusting J2 $500 $500
Closing J3 $500 $0

Insurance Expense (722)

Date Explanation Ref Debit Credit Balance
July 31 Adjusting J2 $150 $150
Closing J3 $150 $0

Salaries and Wages Expense (726)

Date Explanation Ref Debit Credit Balance
July 31 J1 $2,800 $2,800
Adjusting J2 $1,000 $3,800
Closing J3 $3,800 $0

Anyas Cleaning Service

Anyas Cleaning Service
Owners
Income Statement Equity Statement
ForJuly
For the month ended the31,
month
2017ended July 31, 2017
Owners capital, July 1 $20,000
Debit Credit
Add: Net Income $6,900
Revenues
Service revenue $13,200 $26,900
Expenses Less: Drawings $5,600
Owners$3,800
Salaries and wages expense capital, April 30 $21,300
Gasoline expense $350
Depreciation expense $500
Insurance expense $150
Supplies expense $1,500
Total expenses $6,300
Net Income $6,900
 Anyas Cleaning Service
Balance Sheet
July 31, 2017
Assets
Cash $5,950
Accounts receivable $9,800
Supplies $600
Prepaid insurance $1,650
Equipment $12,000
Less: accumulated depreciaton equipment $500

$11,500 $18,000
Total assets $29,500
Liabilities and Owners Equity
Liabilities
Accounts Payable $7,200
Salaries and Wages payable $1,000
Total liabilities $8,200
Owners Equity
Owners Capital $21,300
Total liabilities and owners equity $29,500

General Journal (J2)

Date Account Titles and Explanatiom Ref. Debit Credit
2017 Accounts receivable 112 $2,700
July 31 Service revenue 400 $2,700
Depreciation expense 711 $500
Accumulated depreciation - equipment 158 $500
Insurance expense 722 $150
Prepaid insurance 130 $150
Supplies expense 631 $1,500
Supplies 126 $1,500
Salaries and wages expense 726 $1,000
Salaries and wages payable 212 $1,000
Total $5,850 $5,850
 General Journal (J3)
Date
Account Titles and Explanation Ref. Debit Credit
2017
July 31 Service revenue 400 $13,200
Income summary 350 $13,200
Income summary 350 $6,300
Depreciation expense 711 $500
Salaries and wages expense 726 $3,800
Gasoline expense 633 $350
Insurance expense 722 $150
Supplies expense 631 $1,500
Income summary 350 $6,900
Owners capital 301 $6,900
Owners capital 301 $5,600
Owners drawings 306 $5,600

OKABE COMPANY
Post-Closing Trial Balance
July 31, 2017
Debit Credit
Cash $5,250
Accounts receivable $9,800
Supplies $600
Prepaid insurance $1,650
Equipment $12,000
Accumulated depreciation equipment $500
Accounts payable $6,500
Salaries and wages payable $1,000
Owners capital $21,300
$29,300 $29,300

P. 4-6A
Incorrect Entry
Account titles Debit Credit
Cash $950
Accounts receivable $950
Misc. expense $75
Cash $75
Salaries and wages expense $1,900
Cash $1,900
Supplies $310
Accounts payable $310
Equipment $69
Cash $69
Correct entry
Account titles Debit Credit
Cash $590
Accounts receivable $590
Advertising expense $75
Cash $75
Salaries and wages expense $1,200
Salaries and wages payable $700
Cash $1,900
Equipment $310
Accounts payable $310
Repair expense $96
Cash 96

Correcting entry
Account titles Debit Credit
Accounts receivable $360
Cash $360
Advertising expense $75
Misc. expense $75
Salaries and wages payable $700
Salaries and wages expense $700
Equipment $310
Supplies $310
Repair expense $96
Equipment $69
Cash $27

Global Cable
Trial Balance
April 30,2017
Debit Credit
Cash $3,713
Accounts Receivable $3,560
Supplies $490
Equipment $10,841
Accumulated Depreciation Equipment $1,350
Accounts Payable $2,100
Salaries and Wages Payable $0
Unearned Service Revenue $890
Owners Capital $12,900
Service Revenue $5,450
Salaries and Wages Expense $2,600
Advertising Expense $675
Miscellaneous Expense $215
Repair Expense $96
Depreciation Expense $500