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Complete the attached, Problem 4-1A Template. Please refer to Ch. 4, in your textbook for detailed instructions. Save your completed work and submit via CANVAS.
I am posting below something from the book:
PE 4-1A
The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.
PE 4-1B
The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.
PE 4-2A
Marcie Davies owns and operates Gemini Advertising Services. On January 1, 2018, Marcie Davies, Capital had a balance of $618,500. During the year, Marcie invested an additional $40,000 and withdrew $15,000. For the year ended December 31, 2018, Gemini Advertising Services reported a net income of $92,330. Prepare a statement of owner’s equity for the year ended December 31, 2018.PE 4-2B
Blake Knudson owns and operates Grab Bag Delivery Services. On January 1, 2018, Blake Knudson, Capital had a balance of $918,000. During the year, Blake made no additional investments and withdrew $15,000. For the year ended December 31, 2018, Grab Bag Delivery Services reported a net loss of $43,500. Prepare a statement of owner’s equity for the year ended December 31, 2018.PE 4-3A
The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Waterloo Consulting.
PE 4-3B
The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.
PE 4-4A
After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.:
Journalize the two entries required to close the accounts.PE 4-4B
After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.:
Journalize the two entries required to close the accounts.PE 4-5A
From the following list of steps in the accounting cycle, identify what two steps are missing:
PE 4-5B
From the following list of steps in the accounting cycle, identify what two steps are missing:
PE 4-6A
Current assets and current liabilities for HQ Properties Company follow:
Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change?PE 4-6B
Current assets and current liabilities for Brimstone Company follow:
Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change?
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