Question

Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained Earnings 2,850 Dividends 6,500 Service Revenue 60,900 Advertising Expense 8,200 Supplies Expense 4,000 Depreciation Expense 5,600 Insurance Expense 3,000 Salaries and Wages Expense 28,100 Interest Expense 600 Totals 102,300 102,300 610 631 711 722 726 905

Answer 1

Answer:

Retained Earnings
Date	Explanation	Debit	Credit	Balance
Jan.31	Balance			$2,850
Dec.31	Closing entry		$11,400	$14,250
Dec.31	Closing entry	$6,500		$7,750
Dividends
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$6,500
Dec.31	Closing entry		$6,500	$0
Income Summary
Date	Explanation	Debit	Credit	Balance
Dec.31	Closing entry		$60,900	$60,900
Dec.31	Closing entry	$49,500		$11,400
Dec.31	Closing entry	$11,400		$0
Service revenue
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$60,900
Dec.31	Closing entry	$60,900		$0
Advertising expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$8,200
Dec.31	Closing entry		$8,200	$0
Supplies expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$4,000
Dec.31	Closing entry		$4,000	$0
Depreciation expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$5,600
Dec.31	Closing entry		$5,600	$0
Insurance expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$3,000
Dec.31	Closing entry		$3,000	$0
Salaries and Wages Expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$28,100
Dec.31	Closing entry		$28,100	$0
Interest expense
Date	Explanation	Debit	Credit	Balance
Dec.31	Balance			$600
Dec.31	Closing entry		$600	$0