Req.

1 (journal entries)

Journal
Date Accounts and Explanations Post Ref Debit Credit
a. Cash 101 5,000
Delivery truck 141 10,000
Paul Dwyer, capital 301 15,000
Owners investment
b. Supplies 121 200
Cash 101 200
Paid cash for supplies
c. Prepaid insurance 131 600
Cash 101 600
Prepaid insurance
d. Cash 101 700
Service revenue 401 700
Performed service and received cash
e. Accounts receivable 111 2,000
Service revenue 401 2,000
Performed service on account
f. Salary expense 501 800
Cash 101 800
Paid employee salary
g. Cash 101 900
Service revenue 401 900
Performed service and received cash

withdrawals 311 1. Account receivable 111 800 Service revenue 401 800 Performed service on account l.900 Owner withdrawal . Cash 101 500 Unearned service revenue 221 500 To record revenue that was collected in advance i.h.000 Collected cash on account j. Cash 101 2.000 Accounts receivable 111 2. Paul Dwyer. Rent expense 541 500 Cash 101 500 Paid office rent m. Fuel expense 531 100 Accounts payable 201 100 Purchased fuel on account k.900 Cash 101 1. Accounts payable 201 100 Cash 101 100 Pain on account n.

200 c. 100 j. Adj 150 Bal 100 Bal 450 Delivery Truck Accumulated Depreciation a. 5. 1. 2. 10.900 Bal 5. 200 e.000 d. 800 g. 500 i. 2.000 Bal 50 Accounts Payable Salary Payable m.000 i. 100 q. 100 n. 700 c. 100 o. Adj 50 Bal 10. 500 l. Adj 800 Bal 800 .000 m. 2.000 b. 2. 900 f.Reqs. 5 and 6 Cash Accounts Receivable a. 600 k. 600 r.000 Bal 800 Supplies Prepaid Insurance b. 800 h.000 p.

900 Clo 4 1. 800 e. 500 a. Unearned Service Revenue Paul Dwyer.900 CLo3 2. 15. 900 k. 800 s.800 Bal 1.800 Bal 4.000 Clo 3 2. Adj 800 Clo 1 4.900 Clo 2 2.400 Paul Dwyer.600 Depreciation Expense Insurance Expense p. Adj 100 Bal 100 Clo 2 100 . Adj 50 q.300 Service Revenue Salary Expense d.500 Clo 1 4.300 s. adj 400 Clo 4 1. Capital h. Adj 150 Bal 50 Clo 2 50 BaL 150 Clo 2 150 Fuel Expense Rent Expense j. 2.000 g. Withdrawals Income Summary n.000 15. 700 f. 500 Bal 100 Clo 2 100 Bal 500 Clo 2 500 Supplies Expense r.900 Bal 100 Bal 15.800 Bal 1. Adj 400 o.300 Bal 2. 1. 100 l.600 Clo 2 1.

2011 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 5. withdrawals 1.500 4.250 .300 2.800 4.950 Net Income 2. 100 100 100 19.000 Paul Dwyer. 150 450 450 Delivery Truck 10.800 Salary Expense 800 a.800 18. 800 1.900 1.250 15. 3 Dwyer Delivery Service Accounting Work Sheet Month Ended January 31.600 1.400 e.900 20.600 Depreciation Expense b.400 4.750 2.000 10.900 19.000 Accounts Receivable 800 800 800 Supplies 200 d.250 18. 150 150 150 Fuel Expense 100 100 100 Rent Expense 500 500 500 Supplies Expense d. 50 50 50 Accounts Payable Salary Payable a. capital 15. 800 800 800 Unearned service revenue 500 e.000 5.750 20.900 1.000 5.100 100 100 Prepaid Insurance 600 c.300 4. 50 50 50 Insurance Expense c.900 Service Revenue 4.Req.000 10.800 4.000 Accumulated Depreciation b.000 15. 400 100 100 Paul Dwyer.800 18.000 15.

capital.900) Paul Dwyer.500 Net income $2.400 Dwyer Delivery Service Balance Sheet January 31.000 Accounts payable Accounts receivable 800 Salary payable $800 Supplies 100 Unearned service revenue $100 Prepaid insurance 450 total current assets 6. capital $15.800 Expenses: Salary expense 1600 Depreciation expense 50 Insurance expence 150 Fuel expense 100 Rent expense 500 Supplies expense 100 Total expenses 2. 2011 Revenue: Service revenue $4. 4 Dwyer Delivery Service Income Statement Month Ended January 31.350 Long term assets: Delevery truck 10. capital $15. 2011 Paul Dwyer.300 $17.950 Paul Dwyer. January 31.300 .300 Less: Owner withdrawals (1.000 Add:Net Income 2. 2011 Assets Liabilities Cash $5.300 Dwyer Delivery Service Statement of Owner's Equity Month Ended January 31.000 Total liabilities $900 Less:Accumulated depreciation 50 Owner's equity total long term assets 9.Req.300 Total liabilities and owner's equity $16.400 total assets $16. 2011 $15.

5.Reqs. 6 Journal Date Accounts and Explanations PR Debit Credit Adjusting Entries (o) Salary expense 501 800 Salary payable 211 800 To accrue salary expense (p) Depreciation expense 511 50 Accumulated depreciation 151 50 To record depreciation (q) Insurance expense 521 150 Prepaid insurance 131 150 To accrue insurance expense ( r) Supplies expense 551 100 Supplies 121 100 To record supplies used (s) Unearned service revenue 221 400 Service revenue 401 400 Torecord revenue that was collected in advance .

800 Jan.300 Paul Dwyer. 6 Journal Accounts and Explanations Debit Credit Closing Entries Jan. Withdrawal 1. 31 Clo 2 Income summary 2.Req. Capital 2. Capital 1.600 Depreciation expense 50 Insurance expense 150 Fuel expense 100 Rent expense 500 Supplies expense 100 Jan.800 Income summary 4. 31 Clo 4 Paul Dwyer.900 Paul Dwyer.300 Jan.500 Salary expense 1.900 . 31 Clo 3 Income summary 2. 31 Clo 1 Service revenue 4.

Req.350 .000 Accounts receivable 800 Supplies 100 Prepaid insurance 450 Delivery truck 10.400 $16. Capital 15.350 $16.000 Accumulated depreciation $50 Salary payable 800 Unearned service revenue 100 Paul Dwyer. 2011 Debit Credit Cash $5. 7 Dwyer Delivery Service Post-Closing Trial Balance January 31.