TEST 06: Completing a Worksheet A
On October 31 of the current year, Courtney & Assoicates has the following general ledger accounts and
balances. The business uses a monthly fiscal period. A work sheet is given in the Working papers.
Account Titles
Account Balances
Debit
Cash
Petty Cash
AR- Dyneka
AR- Kabir
AR- Rebecca
AR- Keyasha
Supplies
Prepaid Insurance
AP- Major
AP- Lovero
AP- Pittman
AP- Williamson
Courtney and Associates, Capital
Courtney and Associates, Drawing
Income Summary
Sales
Advertising Exp.
Insurance Exp.
Misc. Exp.
Rent Exp.
Supplies Exp.
Utilities Exp.
Towel Exp.
Credit
14000.00
600.00
5080.00
2960.00
3002.00
2500.00
1250.00
2000.00
1006.00
526.00
785.00
900.00
23375.00
1005.00
9008.00
512.00
598.00
412.00
936.00
745.00
Instructions:
1.
2.
3.
4.
5.
6.
Prepare the heading and trial balance on a worksheet. Total and rule the Trial Balance columns.
Analyze the following adjustment information into debit and credit parts. Record the adjustments on the
work sheet.
a. Adjustment Information, October 31
i. Supplies Inventory:
500.00
ii. Value of Prepaid Insurance:
1000.00
Total and rule the Adjustments columns.
Extend the up-date balances to the Balance Sheet or Income Statement columns.
Rule a single line across the Income Statement and Balance Sheet columns. Total each column. Calculate
and record the net income or income loss. Label the amount in the Account Title column.
Total and rule the income Statement and Balance Sheet columns
TEST 06: Completing a Worksheet B
On January 31 of the current year, Honesty Law Office has the following general ledger accounts and
balances. The business uses a monthly fiscal period. A work sheet is given in the Working papers.
Account Titles
Account Balances
Debit
Cash
Petty Cash
AR- Dyneka
AR- Kabir
AR- Rebecca
Supplies
AR- Keyasha
Prepaid Insurance
AP- Major
AP- Lovero
AP- Pittman
AP- Williamson
Courtney and Associates, Capital
Courtney and Associates, Drawing
Income Summary
Sales
Advertising Exp.
Insurance Exp.
Misc. Exp.
Rent Exp.
Supplies Exp.
Utilities Exp.
Towel Exp.
Credit
30000.00
4500.00
6080.00
7360.00
9602.00
2250.00
2980.00
5600.00
8006.00
626.00
1085.00
8500.00
62305.00
18005.00
21008.00
1512.00
2598.00
2412.00
9136.00
1745.00
Instructions:
1.
2.
3.
4.
5.
Prepare the heading and trial balance on a worksheet. Total and rule the Trial Balance columns.
Analyze the following adjustment information into debit and credit parts. Record the adjustments on the
work sheet.
a. Adjustment Information, October 31
i. Supplies Inventory:
1895.00
ii. Value of Prepaid Insurance:
3285.00
Total and rule the Adjustments columns.
Extend the up-date balances to the Balance Sheet or Income Statement columns.
Rule a single line across the Income Statement and Balance Sheet columns. Total each column. Calculate
and record the net income or income loss. Label the amount in the Account Title column.
Total and rule the income Statement and Balance Sheet columns