Cooke Bank has a fiscal year ending on September 30.

Selected data from the September 30 work sheet are presented below.
Instructions:
(a) Prepare a complete work sheet.
COOKE BANK
Work Sheet
For The Year Ended September 30, 2010
Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 37,400 37,400
Supplies 18,600 4,200
Prepaid Insurance 31,900 3,900
Land 80,000 80,000
Equipment 120,000 120,000
Accumulated Depreciation - Equip 36,200 42,000
Accounts Payable 14,600 14,600
Unearned Bank Service Revenue 2,700 700
Mortgage Payable 50,000 50,000
Cooke, Capital 109,700 109,700
Cooke, Drawing 14,000 14,000
Bank Service Revenue 278,500 280,500
Salaries Expense 109,000 109,000
Repair Expense 30,500 30,500
Advertising Expense 9,400 9,400
Utilities Expense 16,900 16,900
Property Taxes Expense 18,000 21,000
Interest Expense 6,000 12,000
Totals 491,700 491,700
Insurance Expense 28,000
Supplies Expense 14,400
Interest Payable 6,000
Depreciation Expense 5,800
Property Taxes Payable 3,000
Totals Formula Formula 506,500 506,500 Formula Formula Formula Formula
Net income or loss Formula Formula
Totals Formula Formula Formula Formula

Problem 1, Page 1 of 3, 04/24/2024, 13:49:52

(b) Prepare a classified statement of financial position. $10,000 of the mortgage payable is due for payment in the next fiscal year.)
(Note:
COOKE BANK
Statement of Financial Position
September 30, 2017
Assets Liabilities and Owner’s Equity
Noncurrent Assets Equity
Title Cooke, Capital Formula
Account Title Amount Liabilities
Account Title Amount Account Title Formula
Account Title Amount Formula Formula Current liabilities
Current assets Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Total current assets Formula Account Title Amount
Total assets Formula Total current liabilities Formula
Total liabilities Formula
Total liabilities and owner’s equity Formula

(c) Journalize the adjusting entries using the worksheet as a basis.

Sep 30 Account Title Amount

Account Title Amount

Sep 30 Account Title Amount

Account Title Amount

Sep 30 Account Title Amount

Account Title Amount

Sep 30 Account Title Amount

Account Title Amount

Sep 30 Account Title Amount

Account Title Amount

Sep 30 Account Title Amount

Account Title Amount

Problem 1, Page 2 of 3, 04/24/2024, 13:49:52

(d) Journalize the closing entries using the worksheet as a basis. (e) Prepare a post-closing trial balance.

Sep 30 Account Title Amount COOKE BANK

Account Title Amount Post Closing Trial Balance
September 30, 2017
Sep 30 Account Title Formula Debit Credit
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Account Title Amount
Sep 30 Account Title Amount Account Title Amount
Account Title Amount Account Title Amount
Totals Formula Formula
Sep 30 Account Title Amount
Account Title Amount

Problem 1, Page 3 of 3, 04/24/2024, 13:49:52