Part 3 adjusting and closing entries to general ledger- A partially completed wo

Question

Part 3 adjusting and closing entries to general ledger- A partially completed worksheet for At Home Pet Grooming Service, a firm that grooms pets at the owner’s home, follows.

At Home Pet Grooming Worksheet Month Ended December Trial Balance Adjustments Account Name Debit Credit Debit Credit Cash Accounts receivable Supplies Prepaid advertising Equipment Accumulated depreciation-Equipment Accounts payable Shara Johns, Capital Shara Johns, Drawing Fees income Salaries expense Utilities expense Supplies expense Advertising expense Depreciation expense-Equipment Totals Net income $ 32,050 5,450 6,000 4,000 21,000 2,100 1,900 580 6,000 45,500 3,000 26,600 5,800 800 2,100 1,900 580 $ 78,100$ 78,100 $ 4,580$ 4,580

Explanation / Answer

Cash Accounts Receivable Supplies Date Debit   Credit Balance Date Debit   Credit Balance Date Debit   Credit Balance Bal.          32,050.00 Dr. Bal.        5,450.00 Dr. Bal.         6,000.00 Dr.          32,050.00 Dr.        5,450.00 Dr. 31-Dec              2,100.00         3,900.00 Dr. Prepaid Advertising Equipment Accumulated Dep. - Equipment Date Debit   Credit Balance Date Debit   Credit Balance Date Debit   Credit Balance Bal.            4,000.00 Dr. Bal.      21,000.00 Dr. Bal.                      -   Cr. 31-Dec            1,900.00            2,100.00 Dr. 31-Dec                  580.00             580.00 Cr. Accounts Payable Shara Johns, Capital Shara Johns, Drawings Date Debit   Credit Balance Date Debit   Credit Balance Date Debit   Credit Balance Bal.            6,000.00 Cr. Bal.      45,500.00 Cr. Bal.         3,000.00 Dr. 31-Dec        3,000.00      42,500.00 Cr. 31-Dec              3,000.00                      -   Dr. 31-Dec      15,420.00      57,920.00 Cr. Fees Income Salaries Expense Utilities Expense Date Debit   Credit Balance Date Debit   Credit Balance Date Debit   Credit Balance Bal.          26,600.00 Cr. Bal.        5,800.00 Dr. Bal.             800.00 Dr. 31-Dec      26,600.00                         -   Dr. 31-Dec        5,800.00                     -   Dr. 31-Dec                  800.00                      -   Dr. Supplies Expense Advertising Expense Depreciation Expense - Equipment Date Debit   Credit Balance Date Debit   Credit Balance Date Debit   Credit Balance Bal.                         -   Dr. Bal.                     -   Dr. Bal.                      -   Dr. 31-Dec        2,100.00            2,100.00 Dr. 31-Dec        1,900.00        1,900.00 Dr. 31-Dec             580.00             580.00 Dr. 31-Dec            2,100.00                         -   Dr. 31-Dec        1,900.00                     -   Dr. 31-Dec                  580.00                      -   Dr. Income Summary Date Debit   Credit Balance Bal.                         -   Cr. 31-Dec          26,600.00          26,600.00 Cr. 31-Dec        5,800.00          20,800.00 Cr. 31-Dec            800.00          20,000.00 Cr. 31-Dec        2,100.00          17,900.00 Cr. 31-Dec        1,900.00          16,000.00 Cr. 31-Dec            580.00          15,420.00 Cr. 31-Dec      15,420.00                         -   Cr.

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