Solution Manual Integrated ing For Windows 8th Edition By Dale A. Klooster Slc1117 391i1t
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Chapter 2 - Manual
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6/2/2018
Full Solution Manual Integrated ing for Windows 8th Edition by Dale A. Klooster Click on link to : http://textbookexams.com/product/solution-manual-integrateding-for-windows-8th-edition-by-dale-a-klooster/ Chapter 2
ING CYCLE OF A SERVICE BUSINESS AND BANK RECONCILIATION STUDENT EXERCISES I.
MATCHING
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16.
m f e h c l i k j a b d g n o p
II. TRUE/FALSE 1. 2. 3. 4. 5. 6. 7.
F F T T T T T
III. QUESTIONS 1. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab, key the number © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 2
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and title of the to be added, then choose the Add button. 2. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab and select the to be changed. Key the new title, then choose the Change button to record the new title. 3. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab and select the to be deleted. Choose the Delete button to delete the selected (only s with zero balances may be deleted). 4. Any business transaction may be entered in the general journal window. 5. Click on the Journals toolbar button. When the Journal Entries window appears, click on the General Journal tab and select the transaction that must be corrected. Key the correction(s), then choose the Post button. 6. Click on the Journals toolbar button. When the Journal Entries window appears, click on the General Journal tab, select the transaction to be deleted, then chose the Delete button. 7. While the field has the focus, choose the Chart of s button to cause the computer to display a selection list from which an may be selected and placed in the field. 8. Start Date: End Date:
07/01/-07/31/--
9. Start Date: End Date: Reference:
09/01/-09/10/-5435
10. $335.00 11. Income Statement, Balance Sheet, and Statement of Owner’s Equity. 12. In the Reconciliation window, the computer automatically includes the Cash balance in the Checkbook Balance field, and all the checks written during the period are displayed in a list box. 13. The computer automatically generates the closing entries that close the temporary income statement s to the income summary , close the income summary to the capital , and close the drawing to the capital . 14. If an error is detected after closing, use the following procedure: (1) correct the journal entry in error, (2) delete the closing entries, and (3) again generate, display, and post the closing journal entries.
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
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PROBLEM 2-A Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
Debit
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
255.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
3,200.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
118.56
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
405.00
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
285.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
125.35
12/09 3834 12/09 3834
2110 1110
s Payable Cash
175.00
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
225.30
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
2,000.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
3,575.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
500.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
265.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
Credit
1,200.00 1,200.00 237.73 237.73 42.00 42.00 255.00 3,200.00 118.56 405.00 285.00 125.35 175.00 225.30 2,000.00 3,575.00 500.00 265.00 3,200.00 3,200.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,700.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,200.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
135.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
136.85
12/27 3838 12/27 3838
2110 1110
s Payable Cash
250.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
2,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,200.00
Totals
75.00 75.00 3,700.00 1,200.00 135.00 136.85 250.00 3,250.00 3,250.00 311.86 311.86 2,000.00 2,054.38 3,200.00 -------------- -------------32,122.03 32,122.03 ============== ==============
Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
Debit
Credit
1,200.00 1,200.00 237.73 237.73 42.00 42.00 255.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
255.00
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12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
3,200.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
118.56
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
405.00
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
285.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
125.35
12/09 3834 12/09 3834
2110 1110
s Payable Cash
175.00
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
225.30
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
2,000.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
3,575.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
500.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
265.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,200.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
135.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
136.85
12/27 3838 12/27 3838
2110 1110
s Payable Cash
250.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
3,200.00 118.56 405.00 285.00 125.35 175.00 225.30 2,000.00 3,575.00 500.00 265.00 3,200.00 3,200.00 75.00 75.00 3,750.00 1,200.00 135.00 136.85 250.00 3,250.00 3,250.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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12/30 3839 12/30 3839
2110 1110
s Payable Cash
311.86
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
2,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,200.00
311.86 2,000.00 2,054.38
Totals
3,200.00 -------------- -------------32,172.03 32,172.03 ============== ==============
Morrow Consulting Trial Balance 12/30/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110 3120 4110 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Joyce Morrow, Drawing Consulting Fees Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Totals
Debit
Credit
12,764.00 2,192.31 1,461.36 435.00 48,122.00 15,235.75 905.33 36,458.74 36,700.00 119,882.73 17,400.00 22,549.76 4,618.77 4,683.15 2,717.74 6,825.68 4,430.63 787.25 685.00 3,930.00 415.00 385.00 1,379.90 ----------------- ----------------172,482.55 172,482.55 ================= =================
Morrow Consulting General Journal 12/31/-© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Date
Refer.
Page 7
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Acct.
Title
Debit
12/31 Adj.Ent. 12/31 Adj.Ent.
5180 1140
Insurance Expense Prepaid Insurance
85.00
12/31 Adj.Ent. 12/31 Adj.Ent.
5130 1130
Supplies Expense Supplies
282.86
12/31 Adj.Ent. 12/31 Adj.Ent.
5170 1511
Depr. Exp. Office Eqpt. Accum. Depr. Office Eqpt.
423.00
Totals
Credit 85.00 282.86
423.00 -------------- -------------790.86 790.86 ============== ==============
Morrow Consulting Income Statement For Year Ended 12/31/-Monthly Amount
Monthly Percent
Yearly Amount
Yearly Percent
Operating Revenue Consulting Fees Total Operating Revenue
9,975.00 100.00 119,882.73 100.00 ------------- ------------- ------------- ---------9,975.00 100.00 119,882.73 100.00
Operating Expenses Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Total Operating Expenses Net Income
1,200.00 12.03 17,400.00 14.51 2,054.38 20.60 22,549.76 18.81 282.86 2.84 4,901.63 4.09 125.35 1.26 4,683.15 3.91 237.73 2.38 2,717.74 2.27 405.00 4.06 6,825.68 5.69 423.00 4.24 4,853.63 4.05 85.00 0.85 872.25 0.73 285.00 2.86 685.00 0.57 755.00 7.57 3,930.00 3.28 265.00 2.66 415.00 0.35 75.00 0.75 385.00 0.32 42.00 0.42 1,379.90 1.15 ------------- ------------- ------------- ---------6,235.32 62.51 71,598.74 59.72 ------------- ------------- ------------- ---------3,739.68 37.49 48,283.99 40.28 ============= ============= ============= ==========
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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Morrow Consulting Statement of Owner's Equity For Year Ended 12/31/--
Joyce Morrow, Capital (Beg. of Period) Joyce Morrow, Drawing Net Income
36,458.74 -36,700.00 48,283.99 ------------48,042.73 =============
Joyce Morrow, Capital (End of Period)
Morrow Consulting Balance Sheet 12/31/-Assets Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. Total Assets
12,764.00 2,192.31 1,178.50 350.00 48,122.00 -15,658.75 ------------48,948.06 =============
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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Liabilities s Payable
905.33 -------------
Total Liabilities
905.33
Owner's Equity Joyce Morrow, Capital Joyce Morrow, Drawing Net Income Total Owner's Equity Total Liabilities & Equity
36,458.74 -36,700.00 48,283.99 ------------48,042.73 ------------48,948.06 =============
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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Morrow Consulting Bank Reconciliation 12/31/-Checkbook Balance
12764.00
Plus Bank Credits: 283.96 -------------283.96 Less Bank Charges: 12.00 -------------12.00 -------------13035.96 ==============
Adjusted Checkbook Balance Bank Statement Balance
6652.20
Plus Outstanding Deposits: 3200.00 3750.00 3250.00 2000.00 -------------12200.00 Less Outstanding Checks: 3838 3839 3840 3841
250.00 311.86 2054.38 3200.00 -------------5816.24 -------------13035.96 ==============
Adjusted Bank Balance
INTEROFFICE MEMORANDUM TO:
Joyce Morrow, Owner
FROM:
Student Name
DATE:
(Today's Date)
SUBJECT: Cash Received As per your request, the following report reflects the cash
received
during the month of December: © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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Student Name Morrow Consulting Cash Receipts As Of 12/31/ Refer .
Date
Acct .
Title
Debit
Credit
15Dec 15Dec
5435 5435
1110 1120
Cash s Receivable
$3,200.00
19Dec 19Dec
5434 5434
1110 1120
Cash s Receivable
$3,750.00
29Dec 29Dec
5433 5433
1110 1120
Cash s Receivable
$3,250.00
30Dec 30Dec
5436 5436
1110 1120
Cash s Receivable
$2,000.00
$3,200.00
$3,750.00
$3,250.00
$2,000.00 $12,200.00 ============= =
Totals
$12,200.00 ============ =
Morrow Consulting General Journal 12/31/-Date
Refer.
Acct.
Title
12/31 Clo.Ent. 12/31 Clo.Ent.
4110 3130
Consulting Fees Income Summary
12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31
3130 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Income Summary Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense
Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent.
Debit
Credit
119,882.73 119,882.73 71,598.74 17,400.00 22,549.76 4,901.63 4,683.15 2,717.74 6,825.68 4,853.63 872.25 685.00 3,930.00 415.00 385.00 1,379.90
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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12/31 Clo.Ent. 12/31 Clo.Ent.
3130 3110
Income Summary Joyce Morrow, Capital
48,283.99
12/31 Clo.Ent. 12/31 Clo.Ent.
3110 3120
Joyce Morrow, Capital Joyce Morrow, Drawing
36,700.00
Totals
48,283.99 36,700.00 -------------- -------------276,465.46 276,465.46 ============== ==============
Morrow Consulting Trial Balance 12/31/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Totals
Debit
Credit
12,764.00 2,192.31 1,178.50 350.00 48,122.00 15,658.75 905.33 48,042.73 ----------------- ----------------64,606.81 64,606.81 ================= =================
Student responses to the Internet activity will vary.
AUDIT QUESTIONS 2-A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18.
$311.86 $32,172.03 $17,400.00 $415.00 $172,482.55 $790.86 $9,975.00 $71,598.74 62.51% $3,739.68 40.28% $48,042.73 $48,948.06 $905.33 Salary Expense, Rent Expense, and Automobile Expense $13,035.96 $276,465.46 $64,606.81
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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PROBLEM 2-B Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
Debit
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
200.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
2,765.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
160.00
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
347.65
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
325.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
120.00
12/09 3834 12/09 3834
2110 1110
s Payable Cash
137.42
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
239.95
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
1,500.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
4,000.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
635.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
235.00
Credit
1,200.00 1,200.00 298.71 298.71 37.65 37.65 200.00 2,765.00 160.00 347.65 325.00 120.00 137.42 239.95 1,500.00 4,000.00 635.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
235.00
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12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,000.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
105.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
145.00
12/27 3838 12/27 3838
2110 1110
s Payable Cash
215.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
1,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,150.00
Totals
2,765.00 2,765.00 35.00 35.00 3,750.00 1,000.00 105.00 145.00 215.00 3,250.00 3,250.00 309.10 309.10 1,000.00 2,054.38 3,150.00 -------------- -------------29,979.86 29,979.86 ============== ==============
Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515
5190
Advertising Expense
Debit
Credit
1,200.00 1,200.00 298.71 298.71 37.65 37.65 200.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
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12/05 2515
2110
s Payable
200.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
160.00
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
347.65
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
325.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
120.00
12/09 3834 12/09 3834
2110 1110
s Payable Cash
137.42
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
239.95
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
1,500.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
4,000.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
635.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
235.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,000.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
105.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
145.00
12/27 3838 12/27 3838
2110 1110
s Payable Cash
215.00
2,765.00 2,765.00 160.00 347.65 325.00 120.00 137.42 239.95 1,500.00 4,000.00 635.00 235.00 2,765.00 2,765.00 35.00 35.00 3,750.00 1,000.00 105.00 145.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
215.00
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12/29 5433 12/29 5433
1110 1120
Cash s Receivable
3,250.00
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
1,500.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,150.00
3,250.00 309.10 309.10 1,500.00 2,054.38 3,150.00 -------------- -------------30,479.86 30,479.86 ============== ==============
Totals
Morrow Consulting Trial Balance 12/30/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110 3120 4110 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Joyce Morrow, Drawing Consulting Fees Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Totals
Debit
Credit
12,022.26 2,417.31 1,487.45 435.00 48,122.00 15,235.75 1,118.61 36,458.74 36,650.00 119,172.73 17,400.00 22,549.76 4,618.77 4,677.80 2,778.72 6,768.33 4,430.63 787.25 725.00 4,010.00 385.00 345.00 1,375.55 ----------------- ----------------171,985.83 171,985.83 ================= =================
Morrow Consulting General Journal © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 17
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12/31/-Date
Refer.
Acct.
Title
Debit
12/31 Adj.Ent. 12/31 Adj.Ent.
5180 1140
Insurance Expense Prepaid Insurance
80.00
12/31 Adj.Ent. 12/31 Adj.Ent.
5130 1130
Supplies Expense Supplies
253.25
12/31 Adj.Ent. 12/31 Adj.Ent.
5170 1511
Depr. Exp. Office Eqpt. Accum. Depr. Office Eqpt.
419.63
Totals
Credit 80.00 253.25
419.63 -------------- -------------752.88 752.88 ============== ==============
Morrow Consulting Income Statement For Year Ended 12/31/-Monthly Amount
Monthly Percent
Yearly Amount
Yearly Percent
Operating Revenue Consulting Fees Total Operating Revenue
9,265.00 100.00 119,172.73 100.00 ------------- ------------- ------------- ---------9,265.00 100.00 119,172.73 100.00
Operating Expenses Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Total Operating Expenses Net Income
1,200.00 12.95 17,400.00 14.60 2,054.38 22.17 22,549.76 18.92 253.25 2.73 4,872.02 4.09 120.00 1.30 4,677.80 3.93 298.71 3.22 2,778.72 2.33 347.65 3.75 6,768.33 5.68 419.63 4.53 4,850.26 4.07 80.00 0.86 867.25 0.73 325.00 3.51 725.00 0.61 835.00 9.01 4,010.00 3.36 235.00 2.54 385.00 0.32 35.00 0.38 345.00 0.29 37.65 0.41 1,375.55 1.15 ------------- ------------- ------------- ---------6,241.27 67.36 71,604.69 60.08 ------------- ------------- ------------- ---------3,023.73 32.64 47,568.04 39.92 ============= ============= ============= ==========
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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Morrow Consulting Statement of Owner's Equity For Year Ended 12/31/-Joyce Morrow, Capital (Beg. of Period) Joyce Morrow, Drawing Net Income Joyce Morrow, Capital (End of Period)
36,458.74 -36,650.00 47,568.04 ------------47,376.78 =============
Morrow Consulting Balance Sheet 12/31/-Assets Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt.
12,022.26 2,417.31 1,234.20 355.00 48,122.00 -15,655.38 -------------
Total Assets
48,495.39 =============
Liabilities s Payable Total Liabilities Owner's Equity
1,118.61 ------------1,118.61
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Joyce Morrow, Capital Joyce Morrow, Drawing Net Income Total Owner's Equity Total Liabilities & Equity
Page 19
6/2/2018
36,458.74 -36,650.00 47,568.04 ------------47,376.78 ------------48,495.39 =============
Morrow Consulting Bank Reconciliation 12/31/-© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 20
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Checkbook Balance
12022.26
Plus Bank Credits: 219.62 -------------219.62 Less Bank Charges: 17.50 -------------17.50 -------------12224.38 ==============
Adjusted Checkbook Balance Bank Statement Balance
6832.86
Plus Outstanding Deposits: 2765.00 3750.00 3250.00 1500.00 -------------11265.00 Less Outstanding Checks: 3837 3838 3839 3840 3841
145.00 215.00 309.10 2054.38 3150.00 -------------5873.48 -------------12224.38 ==============
Adjusted Bank Balance INTEROFFICE MEMORANDUM TO:
Joyce Morrow, Owner
FROM:
Student Name
DATE:
(Today's Date)
SUBJECT: Cash Received As per your request, the following report reflects the cash
received
during the month of December: Student Name Morrow Consulting Cash Receipts As Of 12/31/ Date
Refer
Acct
Title
Debit
Credit
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
.
Page 21
6/2/2018
.
15Dec 15Dec
5435 5435
1110 1120
Cash s Receivable
$2,765.00
19Dec 19Dec
5434 5434
1110 1120
Cash s Receivable
$3,750.00
29Dec 29Dec
5433 5433
1110 1120
Cash s Receivable
$3,250.00
30Dec 30Dec
5436 5436
1110 1120
Cash s Receivable
$1,500.00
$2,765.00
$3,750.00
$3,250.00
$11,265.00 ============ =
Totals
$1,500.00 $11,265.00 ========== =
Morrow Consulting General Journal 12/31/-Date
Refer.
Acct.
Title
Debit
12/31 Clo.Ent. 12/31 Clo.Ent.
4110 3130
Consulting Fees Income Summary
12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31
Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent.
3130 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Income Summary Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense
71,604.69
12/31 Clo.Ent. 12/31 Clo.Ent.
3130 3110
Income Summary Joyce Morrow, Capital
47,568.04
12/31 Clo.Ent. 12/31 Clo.Ent.
3110 3120
Joyce Morrow, Capital Joyce Morrow, Drawing
36,650.00
Totals
Credit
119,172.73 119,172.73 17,400.00 22,549.76 4,872.02 4,677.80 2,778.72 6,768.33 4,850.26 867.25 725.00 4,010.00 385.00 345.00 1,375.55 47,568.04 36,650.00 -------------- -------------274,995.46 274,995.46 ============== ==============
Morrow Consulting © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 22
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Trial Balance 12/31/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Totals
Debit
Credit
12,022.26 2,417.31 1,234.20 355.00 48,122.00 15,655.38 1,118.61 47,376.78 ----------------- ----------------64,150.77 64,150.77 ================= =================
Student responses to the Internet activity will vary.
AUDIT QUESTIONS 2-B 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18.
$215.00 $30,479.86 $1,118.61 $4,010.00 $171,985.83 $752.88 $119,172.73 $6,241.27 60.08% $47,568.04 32.64% $47,376.78 $48,495.39 $1,118.61 Salary Expense and Rent Expense $12,224.38 $274,995.46 $64,150.77
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Page 1
6/2/2018
Full Solution Manual Integrated ing for Windows 8th Edition by Dale A. Klooster Click on link to : http://textbookexams.com/product/solution-manual-integrateding-for-windows-8th-edition-by-dale-a-klooster/ Chapter 2
ING CYCLE OF A SERVICE BUSINESS AND BANK RECONCILIATION STUDENT EXERCISES I.
MATCHING
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16.
m f e h c l i k j a b d g n o p
II. TRUE/FALSE 1. 2. 3. 4. 5. 6. 7.
F F T T T T T
III. QUESTIONS 1. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab, key the number © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 2
6/2/2018
and title of the to be added, then choose the Add button. 2. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab and select the to be changed. Key the new title, then choose the Change button to record the new title. 3. Click on the Accts. toolbar button. When the Maintenance window appears, click on the s tab and select the to be deleted. Choose the Delete button to delete the selected (only s with zero balances may be deleted). 4. Any business transaction may be entered in the general journal window. 5. Click on the Journals toolbar button. When the Journal Entries window appears, click on the General Journal tab and select the transaction that must be corrected. Key the correction(s), then choose the Post button. 6. Click on the Journals toolbar button. When the Journal Entries window appears, click on the General Journal tab, select the transaction to be deleted, then chose the Delete button. 7. While the field has the focus, choose the Chart of s button to cause the computer to display a selection list from which an may be selected and placed in the field. 8. Start Date: End Date:
07/01/-07/31/--
9. Start Date: End Date: Reference:
09/01/-09/10/-5435
10. $335.00 11. Income Statement, Balance Sheet, and Statement of Owner’s Equity. 12. In the Reconciliation window, the computer automatically includes the Cash balance in the Checkbook Balance field, and all the checks written during the period are displayed in a list box. 13. The computer automatically generates the closing entries that close the temporary income statement s to the income summary , close the income summary to the capital , and close the drawing to the capital . 14. If an error is detected after closing, use the following procedure: (1) correct the journal entry in error, (2) delete the closing entries, and (3) again generate, display, and post the closing journal entries.
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 3
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PROBLEM 2-A Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
Debit
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
255.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
3,200.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
118.56
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
405.00
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
285.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
125.35
12/09 3834 12/09 3834
2110 1110
s Payable Cash
175.00
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
225.30
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
2,000.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
3,575.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
500.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
265.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
Credit
1,200.00 1,200.00 237.73 237.73 42.00 42.00 255.00 3,200.00 118.56 405.00 285.00 125.35 175.00 225.30 2,000.00 3,575.00 500.00 265.00 3,200.00 3,200.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 4
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12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,700.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,200.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
135.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
136.85
12/27 3838 12/27 3838
2110 1110
s Payable Cash
250.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
2,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,200.00
Totals
75.00 75.00 3,700.00 1,200.00 135.00 136.85 250.00 3,250.00 3,250.00 311.86 311.86 2,000.00 2,054.38 3,200.00 -------------- -------------32,122.03 32,122.03 ============== ==============
Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
Debit
Credit
1,200.00 1,200.00 237.73 237.73 42.00 42.00 255.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
255.00
Chapter 2 - Manual
Page 5
6/2/2018
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
3,200.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
118.56
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
405.00
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
285.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
125.35
12/09 3834 12/09 3834
2110 1110
s Payable Cash
175.00
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
225.30
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
2,000.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
3,575.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
500.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
265.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,200.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
135.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
136.85
12/27 3838 12/27 3838
2110 1110
s Payable Cash
250.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
3,200.00 118.56 405.00 285.00 125.35 175.00 225.30 2,000.00 3,575.00 500.00 265.00 3,200.00 3,200.00 75.00 75.00 3,750.00 1,200.00 135.00 136.85 250.00 3,250.00 3,250.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 6
6/2/2018
12/30 3839 12/30 3839
2110 1110
s Payable Cash
311.86
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
2,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,200.00
311.86 2,000.00 2,054.38
Totals
3,200.00 -------------- -------------32,172.03 32,172.03 ============== ==============
Morrow Consulting Trial Balance 12/30/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110 3120 4110 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Joyce Morrow, Drawing Consulting Fees Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Totals
Debit
Credit
12,764.00 2,192.31 1,461.36 435.00 48,122.00 15,235.75 905.33 36,458.74 36,700.00 119,882.73 17,400.00 22,549.76 4,618.77 4,683.15 2,717.74 6,825.68 4,430.63 787.25 685.00 3,930.00 415.00 385.00 1,379.90 ----------------- ----------------172,482.55 172,482.55 ================= =================
Morrow Consulting General Journal 12/31/-© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Date
Refer.
Page 7
6/2/2018
Acct.
Title
Debit
12/31 Adj.Ent. 12/31 Adj.Ent.
5180 1140
Insurance Expense Prepaid Insurance
85.00
12/31 Adj.Ent. 12/31 Adj.Ent.
5130 1130
Supplies Expense Supplies
282.86
12/31 Adj.Ent. 12/31 Adj.Ent.
5170 1511
Depr. Exp. Office Eqpt. Accum. Depr. Office Eqpt.
423.00
Totals
Credit 85.00 282.86
423.00 -------------- -------------790.86 790.86 ============== ==============
Morrow Consulting Income Statement For Year Ended 12/31/-Monthly Amount
Monthly Percent
Yearly Amount
Yearly Percent
Operating Revenue Consulting Fees Total Operating Revenue
9,975.00 100.00 119,882.73 100.00 ------------- ------------- ------------- ---------9,975.00 100.00 119,882.73 100.00
Operating Expenses Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Total Operating Expenses Net Income
1,200.00 12.03 17,400.00 14.51 2,054.38 20.60 22,549.76 18.81 282.86 2.84 4,901.63 4.09 125.35 1.26 4,683.15 3.91 237.73 2.38 2,717.74 2.27 405.00 4.06 6,825.68 5.69 423.00 4.24 4,853.63 4.05 85.00 0.85 872.25 0.73 285.00 2.86 685.00 0.57 755.00 7.57 3,930.00 3.28 265.00 2.66 415.00 0.35 75.00 0.75 385.00 0.32 42.00 0.42 1,379.90 1.15 ------------- ------------- ------------- ---------6,235.32 62.51 71,598.74 59.72 ------------- ------------- ------------- ---------3,739.68 37.49 48,283.99 40.28 ============= ============= ============= ==========
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 8
6/2/2018
Morrow Consulting Statement of Owner's Equity For Year Ended 12/31/--
Joyce Morrow, Capital (Beg. of Period) Joyce Morrow, Drawing Net Income
36,458.74 -36,700.00 48,283.99 ------------48,042.73 =============
Joyce Morrow, Capital (End of Period)
Morrow Consulting Balance Sheet 12/31/-Assets Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. Total Assets
12,764.00 2,192.31 1,178.50 350.00 48,122.00 -15,658.75 ------------48,948.06 =============
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 9
6/2/2018
Liabilities s Payable
905.33 -------------
Total Liabilities
905.33
Owner's Equity Joyce Morrow, Capital Joyce Morrow, Drawing Net Income Total Owner's Equity Total Liabilities & Equity
36,458.74 -36,700.00 48,283.99 ------------48,042.73 ------------48,948.06 =============
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 10
6/2/2018
Morrow Consulting Bank Reconciliation 12/31/-Checkbook Balance
12764.00
Plus Bank Credits: 283.96 -------------283.96 Less Bank Charges: 12.00 -------------12.00 -------------13035.96 ==============
Adjusted Checkbook Balance Bank Statement Balance
6652.20
Plus Outstanding Deposits: 3200.00 3750.00 3250.00 2000.00 -------------12200.00 Less Outstanding Checks: 3838 3839 3840 3841
250.00 311.86 2054.38 3200.00 -------------5816.24 -------------13035.96 ==============
Adjusted Bank Balance
INTEROFFICE MEMORANDUM TO:
Joyce Morrow, Owner
FROM:
Student Name
DATE:
(Today's Date)
SUBJECT: Cash Received As per your request, the following report reflects the cash
received
during the month of December: © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 11
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Student Name Morrow Consulting Cash Receipts As Of 12/31/ Refer .
Date
Acct .
Title
Debit
Credit
15Dec 15Dec
5435 5435
1110 1120
Cash s Receivable
$3,200.00
19Dec 19Dec
5434 5434
1110 1120
Cash s Receivable
$3,750.00
29Dec 29Dec
5433 5433
1110 1120
Cash s Receivable
$3,250.00
30Dec 30Dec
5436 5436
1110 1120
Cash s Receivable
$2,000.00
$3,200.00
$3,750.00
$3,250.00
$2,000.00 $12,200.00 ============= =
Totals
$12,200.00 ============ =
Morrow Consulting General Journal 12/31/-Date
Refer.
Acct.
Title
12/31 Clo.Ent. 12/31 Clo.Ent.
4110 3130
Consulting Fees Income Summary
12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31
3130 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Income Summary Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense
Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent.
Debit
Credit
119,882.73 119,882.73 71,598.74 17,400.00 22,549.76 4,901.63 4,683.15 2,717.74 6,825.68 4,853.63 872.25 685.00 3,930.00 415.00 385.00 1,379.90
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 12
6/2/2018
12/31 Clo.Ent. 12/31 Clo.Ent.
3130 3110
Income Summary Joyce Morrow, Capital
48,283.99
12/31 Clo.Ent. 12/31 Clo.Ent.
3110 3120
Joyce Morrow, Capital Joyce Morrow, Drawing
36,700.00
Totals
48,283.99 36,700.00 -------------- -------------276,465.46 276,465.46 ============== ==============
Morrow Consulting Trial Balance 12/31/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Totals
Debit
Credit
12,764.00 2,192.31 1,178.50 350.00 48,122.00 15,658.75 905.33 48,042.73 ----------------- ----------------64,606.81 64,606.81 ================= =================
Student responses to the Internet activity will vary.
AUDIT QUESTIONS 2-A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18.
$311.86 $32,172.03 $17,400.00 $415.00 $172,482.55 $790.86 $9,975.00 $71,598.74 62.51% $3,739.68 40.28% $48,042.73 $48,948.06 $905.33 Salary Expense, Rent Expense, and Automobile Expense $13,035.96 $276,465.46 $64,606.81
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 13
6/2/2018
PROBLEM 2-B Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
Debit
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515 12/05 2515
5190 2110
Advertising Expense s Payable
200.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
2,765.00
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
160.00
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
347.65
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
325.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
120.00
12/09 3834 12/09 3834
2110 1110
s Payable Cash
137.42
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
239.95
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
1,500.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
4,000.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
635.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
235.00
Credit
1,200.00 1,200.00 298.71 298.71 37.65 37.65 200.00 2,765.00 160.00 347.65 325.00 120.00 137.42 239.95 1,500.00 4,000.00 635.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
235.00
Chapter 2 - Manual
Page 14
6/2/2018
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,000.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
105.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
145.00
12/27 3838 12/27 3838
2110 1110
s Payable Cash
215.00
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
1,000.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,150.00
Totals
2,765.00 2,765.00 35.00 35.00 3,750.00 1,000.00 105.00 145.00 215.00 3,250.00 3,250.00 309.10 309.10 1,000.00 2,054.38 3,150.00 -------------- -------------29,979.86 29,979.86 ============== ==============
Morrow Consulting General Journal 12/30/-Date
Refer.
Acct.
Title
12/01 3829 12/01 3829
5110 1110
Rent Expense Cash
12/01 3830 12/01 3830
5150 1110
Telephone Expense Cash
12/02 3831 12/02 3831
5210 1110
Miscellaneous Expense Cash
12/05 2515
5190
Advertising Expense
Debit
Credit
1,200.00 1,200.00 298.71 298.71 37.65 37.65 200.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 15
6/2/2018
12/05 2515
2110
s Payable
200.00
12/05 5435 12/05 5435
1120 4110
s Receivable Consulting Fees
12/06 2516 12/06 2516
1130 2110
Supplies s Payable
160.00
12/06 3832 12/06 3832
5160 1110
Automobile Expense Cash
347.65
12/07 2517 12/07 2517
5185 2110
Repair & Maintenance s Payable
325.00
12/07 3833 12/07 3833
5140 1110
Travel/Entertainment Exp. Cash
120.00
12/09 3834 12/09 3834
2110 1110
s Payable Cash
137.42
12/09 2518 12/09 2518
1130 2110
Supplies s Payable
239.95
12/09 5436 12/09 5436
1120 4110
s Receivable Consulting Fees
1,500.00
12/12 5437 12/12 5437
1120 4110
s Receivable Consulting Fees
4,000.00
12/13 2519 12/13 2519
5190 2110
Advertising Expense s Payable
635.00
12/14 3835 12/14 3835
5195 1110
Dues & Subscriptions Cash
235.00
12/15 5435 12/15 5435
1110 1120
Cash s Receivable
12/16 3836 12/16 3836
5200 1110
Charitable Contrib. Exp. Cash
12/19 5434 12/19 5434
1110 1120
Cash s Receivable
3,750.00
12/20 5438 12/20 5438
1120 4110
s Receivable Consulting Fees
1,000.00
12/21 2520 12/21 2520
1130 2110
Supplies s Payable
105.00
12/23 3837 12/23 3837
2110 1110
s Payable Cash
145.00
12/27 3838 12/27 3838
2110 1110
s Payable Cash
215.00
2,765.00 2,765.00 160.00 347.65 325.00 120.00 137.42 239.95 1,500.00 4,000.00 635.00 235.00 2,765.00 2,765.00 35.00 35.00 3,750.00 1,000.00 105.00 145.00
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
215.00
Chapter 2 - Manual
Page 16
6/2/2018
12/29 5433 12/29 5433
1110 1120
Cash s Receivable
3,250.00
12/30 3839 12/30 3839
2110 1110
s Payable Cash
12/30 5436 12/30 5436
1110 1120
Cash s Receivable
1,500.00
12/30 3840 12/30 3840
5120 1110
Salary Expense Cash
2,054.38
12/30 3841 12/30 3841
3120 1110
Joyce Morrow, Drawing Cash
3,150.00
3,250.00 309.10 309.10 1,500.00 2,054.38 3,150.00 -------------- -------------30,479.86 30,479.86 ============== ==============
Totals
Morrow Consulting Trial Balance 12/30/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110 3120 4110 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Joyce Morrow, Drawing Consulting Fees Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Totals
Debit
Credit
12,022.26 2,417.31 1,487.45 435.00 48,122.00 15,235.75 1,118.61 36,458.74 36,650.00 119,172.73 17,400.00 22,549.76 4,618.77 4,677.80 2,778.72 6,768.33 4,430.63 787.25 725.00 4,010.00 385.00 345.00 1,375.55 ----------------- ----------------171,985.83 171,985.83 ================= =================
Morrow Consulting General Journal © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 17
6/2/2018
12/31/-Date
Refer.
Acct.
Title
Debit
12/31 Adj.Ent. 12/31 Adj.Ent.
5180 1140
Insurance Expense Prepaid Insurance
80.00
12/31 Adj.Ent. 12/31 Adj.Ent.
5130 1130
Supplies Expense Supplies
253.25
12/31 Adj.Ent. 12/31 Adj.Ent.
5170 1511
Depr. Exp. Office Eqpt. Accum. Depr. Office Eqpt.
419.63
Totals
Credit 80.00 253.25
419.63 -------------- -------------752.88 752.88 ============== ==============
Morrow Consulting Income Statement For Year Ended 12/31/-Monthly Amount
Monthly Percent
Yearly Amount
Yearly Percent
Operating Revenue Consulting Fees Total Operating Revenue
9,265.00 100.00 119,172.73 100.00 ------------- ------------- ------------- ---------9,265.00 100.00 119,172.73 100.00
Operating Expenses Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense Total Operating Expenses Net Income
1,200.00 12.95 17,400.00 14.60 2,054.38 22.17 22,549.76 18.92 253.25 2.73 4,872.02 4.09 120.00 1.30 4,677.80 3.93 298.71 3.22 2,778.72 2.33 347.65 3.75 6,768.33 5.68 419.63 4.53 4,850.26 4.07 80.00 0.86 867.25 0.73 325.00 3.51 725.00 0.61 835.00 9.01 4,010.00 3.36 235.00 2.54 385.00 0.32 35.00 0.38 345.00 0.29 37.65 0.41 1,375.55 1.15 ------------- ------------- ------------- ---------6,241.27 67.36 71,604.69 60.08 ------------- ------------- ------------- ---------3,023.73 32.64 47,568.04 39.92 ============= ============= ============= ==========
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 18
6/2/2018
Morrow Consulting Statement of Owner's Equity For Year Ended 12/31/-Joyce Morrow, Capital (Beg. of Period) Joyce Morrow, Drawing Net Income Joyce Morrow, Capital (End of Period)
36,458.74 -36,650.00 47,568.04 ------------47,376.78 =============
Morrow Consulting Balance Sheet 12/31/-Assets Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt.
12,022.26 2,417.31 1,234.20 355.00 48,122.00 -15,655.38 -------------
Total Assets
48,495.39 =============
Liabilities s Payable Total Liabilities Owner's Equity
1,118.61 ------------1,118.61
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Joyce Morrow, Capital Joyce Morrow, Drawing Net Income Total Owner's Equity Total Liabilities & Equity
Page 19
6/2/2018
36,458.74 -36,650.00 47,568.04 ------------47,376.78 ------------48,495.39 =============
Morrow Consulting Bank Reconciliation 12/31/-© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 20
6/2/2018
Checkbook Balance
12022.26
Plus Bank Credits: 219.62 -------------219.62 Less Bank Charges: 17.50 -------------17.50 -------------12224.38 ==============
Adjusted Checkbook Balance Bank Statement Balance
6832.86
Plus Outstanding Deposits: 2765.00 3750.00 3250.00 1500.00 -------------11265.00 Less Outstanding Checks: 3837 3838 3839 3840 3841
145.00 215.00 309.10 2054.38 3150.00 -------------5873.48 -------------12224.38 ==============
Adjusted Bank Balance INTEROFFICE MEMORANDUM TO:
Joyce Morrow, Owner
FROM:
Student Name
DATE:
(Today's Date)
SUBJECT: Cash Received As per your request, the following report reflects the cash
received
during the month of December: Student Name Morrow Consulting Cash Receipts As Of 12/31/ Date
Refer
Acct
Title
Debit
Credit
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
.
Page 21
6/2/2018
.
15Dec 15Dec
5435 5435
1110 1120
Cash s Receivable
$2,765.00
19Dec 19Dec
5434 5434
1110 1120
Cash s Receivable
$3,750.00
29Dec 29Dec
5433 5433
1110 1120
Cash s Receivable
$3,250.00
30Dec 30Dec
5436 5436
1110 1120
Cash s Receivable
$1,500.00
$2,765.00
$3,750.00
$3,250.00
$11,265.00 ============ =
Totals
$1,500.00 $11,265.00 ========== =
Morrow Consulting General Journal 12/31/-Date
Refer.
Acct.
Title
Debit
12/31 Clo.Ent. 12/31 Clo.Ent.
4110 3130
Consulting Fees Income Summary
12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31 12/31
Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent. Clo.Ent.
3130 5110 5120 5130 5140 5150 5160 5170 5180 5185 5190 5195 5200 5210
Income Summary Rent Expense Salary Expense Supplies Expense Travel/Entertainment Exp. Telephone Expense Automobile Expense Depr. Exp. Office Eqpt. Insurance Expense Repair & Maintenance Advertising Expense Dues & Subscriptions Charitable Contrib. Exp. Miscellaneous Expense
71,604.69
12/31 Clo.Ent. 12/31 Clo.Ent.
3130 3110
Income Summary Joyce Morrow, Capital
47,568.04
12/31 Clo.Ent. 12/31 Clo.Ent.
3110 3120
Joyce Morrow, Capital Joyce Morrow, Drawing
36,650.00
Totals
Credit
119,172.73 119,172.73 17,400.00 22,549.76 4,872.02 4,677.80 2,778.72 6,768.33 4,850.26 867.25 725.00 4,010.00 385.00 345.00 1,375.55 47,568.04 36,650.00 -------------- -------------274,995.46 274,995.46 ============== ==============
Morrow Consulting © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
Chapter 2 - Manual
Page 22
6/2/2018
Trial Balance 12/31/-Acct. Number
Title
1110 1120 1130 1140 1510 1511 2110 3110
Cash s Receivable Supplies Prepaid Insurance Office Equipment Accum. Depr. Office Eqpt. s Payable Joyce Morrow, Capital Totals
Debit
Credit
12,022.26 2,417.31 1,234.20 355.00 48,122.00 15,655.38 1,118.61 47,376.78 ----------------- ----------------64,150.77 64,150.77 ================= =================
Student responses to the Internet activity will vary.
AUDIT QUESTIONS 2-B 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18.
$215.00 $30,479.86 $1,118.61 $4,010.00 $171,985.83 $752.88 $119,172.73 $6,241.27 60.08% $47,568.04 32.64% $47,376.78 $48,495.39 $1,118.61 Salary Expense and Rent Expense $12,224.38 $274,995.46 $64,150.77
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a -protected website for classroom use.
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