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U4A5 PracExercise

This document provides a trial balance, adjustments, income statement, and balance sheet for Ramon's Legal Services for the month ended August 31, 2015. It includes account balances and totals for closing entries to complete the accounting cycle and prepare a post-closing trial balance. A general journal is also provided to record the closing entries.

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248 views7 pages

U4A5 PracExercise

This document provides a trial balance, adjustments, income statement, and balance sheet for Ramon's Legal Services for the month ended August 31, 2015. It includes account balances and totals for closing entries to complete the accounting cycle and prepare a post-closing trial balance. A general journal is also provided to record the closing entries.

Uploaded by

Drippy Snowflake
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Journalize the closing entries.

Ramon's Legal Services


Complete the post-closing Trial Balance. Worksheet
For the Month Ended August 31, 2015
Use templates on other worksheets.

Acc. Trial Balance Adjustments Income Statement Balance Sheet


Accounts No. DR CR DR CR DR CR DR CR

Cash 101 20,000.00 1,335.00 18,665.00


Accounts Receivable 105 25,293.66 115.25 25,178.41
Allowance for Doubtful Accounts 106 205.80 115.25 589.98 680.53
Supplies 115 13,000.00 300.00 12,700.00
Office Equipment 140 150,000.00 150,000.00
Accumulated Amortization 141 40,000.00 2,623.04 42,623.04
Accounts Payable 201 11,500.00 11,500.00
HST Payable 205 21,586.00 21,586.00
HST Recoverable 206 9,460.50 28.80 9,489.30
Loan Payable 210 32,200.00 32,200.00
Mortgage Payable 215 50,000.00 50,000.00
Mike Murphy, Capital 301 13,705.30 13,705.30
Mike Murphy, Drawings 305 20,000.00 20,000.00
Fees Earned 401 80,000.00 80,000.00
Advertising Expense 601 3,759.80 518.40 4,278.20
Automobile Expense 602 1,166.40 1,166.40
Bad Debt Expense 603 589.98 589.98
Courier Expense 605 650.00 650.00
Amort. Expense - Equipment 611 159.21 2,623.04 2,782.25
Loss on Sale of Assets 625 1,455.73 1,455.73
Maintenance Expense 630 421.20 421.20
Miscellaneous Expense 635 1,105.60 1,105.60
Security Service Expense 655 825.00 825.00
Utilities Expense 665 1,900.00 1,900.00
249,197.10 249,197.10
Interest Expense 620 787.80 787.80
Supplies Expense 660 300.00 300.00
4,963.27 4,963.27 16,262.16 80,000.00 236,032.71 172,294.87
63,737.84 63,737.84
80,000.00 80,000.00 236,032.71 236,032.71
General Journal
Date
Particulars P.R. Debit Credit
2015

Aug 31 Closing Entries


Ramon's Legal Services
Post-Closing Trial Balance
August 31, 2015
Acc. Trial Balance
Accounts No. DR CR

Mike Murphy, Capital


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