Accounting Cycle Review Problem A Name:

For this problem, the journal, ledger, and work sheet and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.

1. & 5.

GENERAL JOURNAL Page 1

Date Description Post. Ref. Debit Credit
20--
July 1

Invested cash in business.

Bought Blast Off!.

Paid one-year premium for insurance.

Bought inner tubes from Worn Tires.

Received payment for rental space for

video games and food concessions.

Grand opening expenses from Party

Rentals and City Star.

July payment on contract to All-Around

Maintenance.
 GENERAL JOURNAL Page 2

Date Description Post. Ref. Debit Credit

20--
July 6

Paid for employee picnic.

Received cash for services rendered.

Bought parts on account from Arlen's

Pool Supply.

14

Received cash for services rendered.

15

Paid wages for period July 1-July 14.

16

Paid Party Rentals and City Star

on account.

16

Withdrawal for personal use.

17

Bought pool furniture from Pool

Suppliers.

GENERAL JOURNAL Page 3

Date Description Post. Ref. Debit Credit

20--
July 18
 Paid for costume alterations.

21

Received cash for services rendered.

21

Partial payment to Worn Tires.

23

Received allowance from Pool

Suppliers for damaged chairs.

25

Received and paid telephone bill.

29

Paid wages for period July 15-July 28.

31

Received cash for services rendered.

31

Paid Arlen's Pool Supply on account.

31

Received and paid water bill.

GENERAL JOURNAL Page 4

Date Description Post. Ref. Debit Credit

20--
July 31

Paid installment on mortgage.

31
 Received and paid electric bill..

31

Bought inner tubes from Worn Tires.

31

Withdrawal for personal use.

31

Additional revenue from concessions.

Adjusting Entries
31

31

31

31

31

10.
GENERAL JOURNAL Page 5

Date Description Post. Ref. Debit Credit

20-- Closing Entries
July 31

31
31

31
Accounting Cycle Review Problem A Name:

For this problem, the journal, ledger, and work sheet and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.
Enter as per the transactions.

2. 6. & 11.

GENERAL LEDGER
Account Cash Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Accounts Receivable Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July
 Account Prepaid Insurance Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Land Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Building Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Accumulated Depreciation, Building Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Pool/Slide Facility Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July
 Account Accumulated Depreciation, Pool/Slide Facility Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Pool Furniture Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Accumulated Depreciation, Pool Furniture Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Accounts Payable Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Wages Payable Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Mortgage Payable Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account L. Judar, Capital Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account L. Judar, Drawing Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Income Summary Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Income from Services Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Concessions Income Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Pool Maintenance Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Wages Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Advertising Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July
 Account Utilities Expense Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Interest Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Insurance Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Depreciation Expense, Building Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Depreciation Expense, Pool/Slide Facility Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July
 Account Depreciation Expense, Pool Furniture Account No.
Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July

Account Miscellaneous Expense Account No.

Balance
Post.
Date Item Ref. Debit Credit Debit
20--
July
rect answer.

111
Balance
Credit

112
Balance
Credit
 114
Balance
Credit

121
Balance
Credit

122
Balance
Credit

123
Balance
Credit

124
Balance
Credit
 125
Balance
Credit

126
Balance
Credit

127
Balance
Credit

221
Balance
Credit

222
Balance
Credit
 223
Balance
Credit

311
Balance
Credit

312
Balance
Credit

313
Balance
Credit

411
Balance
Credit
 412
Balance
Credit

511
Balance
Credit

512
Balance
Credit

513
Balance
Credit
 514
Balance
Credit

515
Balance
Credit

517
Balance
Credit

518
Balance
Credit

519
Balance
Credit
 520
Balance
Credit

522
Balance
Credit
Accounting Cycle Review Problem A Name:

For this problem, the journal, ledger, and work sheet and statements are under separate tabs.
Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists.
Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer.
Identifying letter will not be graded.

3. & 4.

Blast Off!
Work Sheet
For the Month Ended July 31

Trial Balance Adjustments

Account Name Debit Credit Debit Credit
Cash
Accounts Receivable
Prepaid Insurance
Land
Building
Pool/Slide Facility
Pool Furniture
Accounts Payable
Mortgage Payable
L. Judar, Capital
L. Judar, Drawing
Income from Services
Concessions Income
Pool Maintenance Expense
Wages Expense
Advertising Expense
Utilities Expense
Interest Expense
Miscellaneous Expense

Net Income
7. Blast Off!
Income Statement
For the Month Ended July 31, 20--

Revenues:

Total Revenue
Expenses:

Total Expenses
Net Income

8. Blast Off!
Statement of Owner's Equity
For the Month Ended July 31, 20--

Subtotal

9. Blast Off!
Balance Sheet
July 31, 20--

Assets
 Total Assets

Liabilities

Total Liabilities

Owner's Equity

Total Liabilities and Owner's Equity

12. Blast Off!

Post-Closing Trial Balance
July 31, 20--

Debits Credits

Total
ncorrect answer.

Blast Off!
Work Sheet
For the Month Ended July 31, 20--

djustments Adjusted Trial Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit Debit Credit