Question

Chapter 4 Graded Problem: Financial Accounting The unadjusted trial balance of XYZ Company at the end of the calendar year of 12/31/18 is shown below: XYZ COMPANY Unadjusted Trial Balance 12/31/2018 Debit Balance Credit Balance $3,800 Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends Revenue Wage Expense Rent Expense Utilities Expense Miscellaneous Expense 9,000 6,000 180,800 49,200 7,800 15,000 80,000 2,400 248,000 135,800 43,200 16,000 3.000 400,000 400,000 Use the following information for year-end adjustments: a. b. c. d. Wages accrued but not paid at 12/31/18 are $2,200 Depreciation during the year is $8,150 Supplies on hand at 12/31/18 are $2,000 Insurance premiums expired during the year are $5,300 INSTRUCTIONS Journalize all adjusting entries Complete the 10 column worksheet adding accounts as necessary. Prepare an income statement, a statement of stockholders' equity and a balance sheet in good form. Journalize closing entries 1. 2. 3. . Prepare a post-closing trial balance.
Hey I need help with this homework assignment. Under the instrustions only 1, 2, and 3 are required. I crossed out 4 and 5 because we don’t need to do them. I know this problem is long but please help in anyway you can, thank you.

Answer 1

Unadjusted TB Adisutments Adjusted TB Income statementBalance sheet Debit Credit DebitCredit Debit Credit Debit CreditDebi Credit Items Cash Supplies Prepaid insurance Equipment Acc. Depreciation Accounts payable Wage pavable Capital stock Retained earnings Dividends Revenue Wage expense Rent expense Utilities expense miscellaneous expense Depreciation expense Supplies expense Insurance expense total 3800 9000 6000 180800 3800 3800 7000 5300 700 700 180800 180800 49200 8150 57350 57350 7800 7800 2400 2400 2400 248000 248000 248000 135800 43200 16000 3000 138000 43200 16000 3000 8150 7000 5300 138000 43200 16000 3000 8150 7000 5300 8150 7000 5300 400000 400000 22650226 50 410350 410350 220650 248000 189700 162350 27350 248000 248000189700189700 27350