Financial Accounting: An Integrated Statements Approach, 2nd Edition

OFFICE EQUIPMENT

Dec. 4 1,800

ACCUMULATED DEPRECIATION

Dec. 31 Adjusting 50

LAND

Dec. 1 Balance 20,000

ACCOUNTS PAYABLE

Dec. 11 400 Dec. 1 Balance 400

20 1,800 4 1,800

23 900

Dec. 31 Balance 900

WAGES PAYABLE

Dec. 31 Adjusting 250

UNEARNED RENT

Dec. 31 Adjusting 120 Dec. 1 360

Dec. 31 Adj. Bal. 240

CAPITAL STOCK

Dec. 1 Balance 25,000

CASH

Dec. 1 Balance 5,900 Dec. 1 2,400

1 360 1 800

16 3,100 6 180

21 650 11 400

31 2,870 13 950

20 1,800

23 550

27 1,200

31 310

31 225

31 2,000

Dec. 31 Balance 2,065

ACCOUNTS RECEIVABLE

Dec. 16 1,750 Dec. 21 650

31 1,120

Dec. 31 Balance 2,220

31 Adjusting 500

Dec. 31 Adj. Bal. 2,720

SUPPLIES

Dec. 1 Balance 1,350 Dec. 31 Adjusting 2,040

23 1,450

31 Balance 2,800

Dec. 31 Adj. Bal. 760

PREPAID INSURANCE

Dec. 1 2,400 Dec. 31 Adjusting 100

Dec. 31 Adj. Bal. 2,300

170 Chapter 4 Accounting Information Systems

Exhibit 15

Ledger for Online Solutions—December

Dec. 31 Fees Earned 16,840

Rent Revenue 120

Retained Earnings 16,960

31 Retained Earnings 9,755

Wages Expense 4,525

Rent Expense 1,600

Depreciation Expense 50

Utilities Expense 985

Supplies Expense 2,040

Insurance Expense 100

Miscellaneous Expense 455

31 Retained Earnings 4,000

Dividends 4,000

Exhibit 14

Closing Entries for

Online Solutions