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4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-time receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearned Fees AFIER this adjusting entry. It is not the amount of the entry. c. Insurance explred during May is $300 d. Rent expired during May is $1,600. e. Supplies on hand on May 31 are \$860. HINT: This is the balance you want hin Supples AFIER this adjusting entry. It is not the amount of the entry. 1. Depreciabon of Office Equipment for Mary is $330 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheet and complete the spreadsheet on the pre-formatted Excel spreadsheot. On the smalt cell blank in column "F and " L " on the spreadsheet, enter the letier from 4. above where the adfusting information came from. For example on Column I, Row 302 and Column L, Row 297 you will enter an a. The April End-of-Petiod Spreadsheet is partially completed as an example in Exhibit 12 on poge 181 in your textbook. A full explanation of hiow to complete an End-of-Period Spreadsheet is in Appendix 1 starting on page 188 in your textbook. The first video in the Chapter 4 Lesson Videos also goes over how to complete an End-ot.Period Spreadsheet. 6. Record the adjusting entries on Page 7 of the Journat in the pre-formatted Excel spreadsheet. Post the adjusting joumal entries to the accounts in the Ledger. Note that you will enter a 7 in athe Posting Reterence column in the Ledger. You will enter the account number in the Joumal just as you did on the regutar journal entries. See example of adjusting entries that wore completed in Aprit in E Chiba 13 on poge 181 in the tertbook 7. Prepare an Adjusted Trial Balance on the pre-formatted Excel spreadsheet. If your lotal debits do not equal total credits, do not continue with the problem. If you cant figure out where youre ofl, emall me and I Wil help you. 8. Prepare an income Statement, a Statement of Owner's Equity, and a Balance sheet on tho preformatted Excel spreadsheet. Follow the format in Ehbi 15 on Page 183 in the toxibook. Use the drop down menu in the Xcel spreadsheet - do NOT type the accounts in the financial statements. Your balances in revenue, expenses, and Net Income should match your End-of Penod Sproadshent and the Adjusted Trial Balance. The BEGINNANG Capital Balance on the Statement of Owher s Equaty is the number that is on the End-ol-Period Spreadsheet in the Balance Sheet column and on the Unadjusted Trial Balance. Your Net thi n nie seibuos. 2. Post the journal entries to the Ledger in the Excel spreadsheet. In the Joumal, put the account number in the Posting Reference column that you posted to. For example, Cash is account 11. For any joumal entries with Cash, you put 11 in the Posting Reference column. In the Ledger, you will put the page number of the Journal where the information came from. You will enter 5 for transactions May 2-15 and 6 for transactions May 17-31. In the Ledger, in the first Debit and Credit column, you will enter exactly the same thing you did in the joumal entry. In the second Debit and Credit column you update the running balance of the account. For Asset, Drawing, and Expense accounts, you will ONLY show balances in the Debit column. For these accounts, add to the balance when the joumal entry was a debit and subtract when it was a credit. For Liability, Capital, and Revenue accounts, you will ONLY show balances in the Credit column. For these accounts, add when the journal entry was a credit and subtract when it was a debit. The "Notes - Part 7 " video in the Chapter 2 Lesson Videos goes over how to post to the accounts in the Ledger. Do not put a $ in front of the numbers. Leave the lines that have "adjusting" and "closing" on them blank for now. You will come back to those later in the problem when you do the adjusting and closing entries. See examples of how the April joumal entries were posted in Exhibit 18 on pages 185-187 in the texibook. 3. Prepare an Unadjusted Trial Balance in the Excel spreadsheet. You will put the balances from the Ledger before the adjusting entries on the Unadjusted Trial Balance. If your total debits do not equal total credits, do not continue with the problem. If you can't figure out where you're off, email me and I will help you. See example of the Unadjusted Trial Balance for April in Exhibit 11 on page 180 in the textbook. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-time receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearned Fees AFTER this adjusting entry. It is not the amount of the entry. c. Insurance expired during May is $300. d. Rent expired during May is $1,600. e. Supplies on hand on May 31 are \$860. HINT: This is the balance you want in Supplies AFTER this adjusting entry. It is not the amount of the entry. f. Depreciation of Office Equipment for May is $330. 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheot and complete the spreadsheet, enter the letter from 4, above where the adjusting information came from. For example on Column I, Row 302 and Column L. Row 297 you will enter an a. The April End-of-Period Spreadsheet is partially completed as an example in Exhibit 12 on page 181 in your textbook. A full explanation of how to complete an End-of-Period Spreadsheet is in Appendix 1 starting on page 188 in your textbook. The first video in the Chapter 4 Lesson Videos also goes over how to complete an End-of-Period Spreadsheet. Instructions CQworutueanowe 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-time receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearned Fees AFIER this adjusting entry. It is not the amount of the entry. c. Insurance explred during May is $300 d. Rent expired during May is $1,600. e. Supplies on hand on May 31 are \$860. HINT: This is the balance you want hin Supples AFIER this adjusting entry. It is not the amount of the entry. 1. Depreciabon of Office Equipment for Mary is $330 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheet and complete the spreadsheet on the pre-formatted Excel spreadsheot. On the smalt cell blank in column "F and " L " on the spreadsheet, enter the letier from 4. above where the adfusting information came from. For example on Column I, Row 302 and Column L, Row 297 you will enter an a. The April End-of-Petiod Spreadsheet is partially completed as an example in Exhibit 12 on poge 181 in your textbook. A full explanation of hiow to complete an End-of-Period Spreadsheet is in Appendix 1 starting on page 188 in your textbook. The first video in the Chapter 4 Lesson Videos also goes over how to complete an End-ot.Period Spreadsheet. 6. Record the adjusting entries on Page 7 of the Journat in the pre-formatted Excel spreadsheet. Post the adjusting joumal entries to the accounts in the Ledger. Note that you will enter a 7 in athe Posting Reterence column in the Ledger. You will enter the account number in the Joumal just as you did on the regutar journal entries. See example of adjusting entries that wore completed in Aprit in E Chiba 13 on poge 181 in the tertbook 7. Prepare an Adjusted Trial Balance on the pre-formatted Excel spreadsheet. If your lotal debits do not equal total credits, do not continue with the problem. If you cant figure out where youre ofl, emall me and I Wil help you. 8. Prepare an income Statement, a Statement of Owner's Equity, and a Balance sheet on tho preformatted Excel spreadsheet. Follow the format in Ehbi 15 on Page 183 in the toxibook. Use the drop down menu in the Xcel spreadsheet - do NOT type the accounts in the financial statements. Your balances in revenue, expenses, and Net Income should match your End-of Penod Sproadshent and the Adjusted Trial Balance. The BEGINNANG Capital Balance on the Statement of Owher s Equaty is the number that is on the End-ol-Period Spreadsheet in the Balance Sheet column and on the Unadjusted Trial Balance. Your Net thi n nie seibuos. 2. Post the journal entries to the Ledger in the Excel spreadsheet. In the Joumal, put the account number in the Posting Reference column that you posted to. For example, Cash is account 11. For any joumal entries with Cash, you put 11 in the Posting Reference column. In the Ledger, you will put the page number of the Journal where the information came from. You will enter 5 for transactions May 2-15 and 6 for transactions May 17-31. In the Ledger, in the first Debit and Credit column, you will enter exactly the same thing you did in the joumal entry. In the second Debit and Credit column you update the running balance of the account. For Asset, Drawing, and Expense accounts, you will ONLY show balances in the Debit column. For these accounts, add to the balance when the joumal entry was a debit and subtract when it was a credit. For Liability, Capital, and Revenue accounts, you will ONLY show balances in the Credit column. For these accounts, add when the journal entry was a credit and subtract when it was a debit. The "Notes - Part 7 " video in the Chapter 2 Lesson Videos goes over how to post to the accounts in the Ledger. Do not put a $ in front of the numbers. Leave the lines that have "adjusting" and "closing" on them blank for now. You will come back to those later in the problem when you do the adjusting and closing entries. See examples of how the April joumal entries were posted in Exhibit 18 on pages 185-187 in the texibook. 3. Prepare an Unadjusted Trial Balance in the Excel spreadsheet. You will put the balances from the Ledger before the adjusting entries on the Unadjusted Trial Balance. If your total debits do not equal total credits, do not continue with the problem. If you can't figure out where you're off, email me and I will help you. See example of the Unadjusted Trial Balance for April in Exhibit 11 on page 180 in the textbook. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Accrued part-time receptionist salary on May 31 is $240. b. Unearned Fees on May 31 are $3,850. HINT: This is the balance you want in Unearned Fees AFTER this adjusting entry. It is not the amount of the entry. c. Insurance expired during May is $300. d. Rent expired during May is $1,600. e. Supplies on hand on May 31 are \$860. HINT: This is the balance you want in Supplies AFTER this adjusting entry. It is not the amount of the entry. f. Depreciation of Office Equipment for May is $330. 5. Enter the Unadjusted Trial Balance on the End-of-Period Spreadsheot and complete the spreadsheet, enter the letter from 4, above where the adjusting information came from. For example on Column I, Row 302 and Column L. Row 297 you will enter an a. The April End-of-Period Spreadsheet is partially completed as an example in Exhibit 12 on page 181 in your textbook. A full explanation of how to complete an End-of-Period Spreadsheet is in Appendix 1 starting on page 188 in your textbook. The first video in the Chapter 4 Lesson Videos also goes over how to complete an End-of-Period Spreadsheet. Instructions CQworutueanowe

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