Chapter 4 Accounting Information Systems 189(a) Identify each account as either a balance sheet account or an income statement account. (b)
For each balance sheet account, identify it as an asset, a liability, or stockholders’ equity. For
each income statement account, identify it as a revenue or an expense. (c) Indicate the normal
balance of the account.Using the data from Exercise 4-11, prepare a trial balance for Apple Computer, Inc., as of
September 25, 2004. List the accounts in the order they would appear in the ledger of Apple
Computer.Using the data from Exercises 4-11 and 4-12, prepare (a) an income statement and (b) a retained
earnings statement for the year ending September 25, 2004, for Apple Computer, Inc.Using the data from Exercises 4-11 and 4-12, (a) journalize the closing entries and (b) prepare a
post-closing trial balance for Apple Computer, Inc.During the month, Wembley Co. received $212,500 in cash and paid out $183,750 in cash.a. Do the data indicate that Wembley Co. earned $28,750 during the month? Explain.
b. If the balance of the cash account is $36,300 at the end of the month, what was the cash bal-
ance at the beginning of the month?a. On April 1, the cash account balance was $7,850. During April, cash receipts totaled $41,850,
and the April 30 balance was $9,150. Determine the cash payments made during April.
b. On July 1, the accounts receivable account balance was $15,500. During July, $61,000 was
collected from customers on account. Assuming the July 31 balance was $17,500, determine
the fees billed to customers on account during July.
c. During January, $40,500 was paid to creditors on account, and purchases on account were
$57,700. Assuming the January 31 balance of Accounts Payable was $38,000, determine the
account balance on January 1.Exercise 4-12
Trial balance
Goals3, 4
Total debit column, $16,110
Exercise 4-13
Income statement, retained
earnings statement
Goals3, 4
Net income, $276
Exercise 4-14
Closing entries, post-closing
trial balance
Goals3, 4
Total debit column, $8,050
Exercise 4-15
Cash account balance
Goals3, 4
b. 7,550
Exercise 4-16
Account balances
Goals3, 4
a. $40,550