ACCT 211 Part 2: The adjusted trial balance

| June 13, 2016

Question
Part 2:The adjusted trial balance of Karise Repairs on December 31, 2015, follows (NOTE: these figures are different than what was provided in Part 1):

KARISE REPAIRS
Adjusted Trial Balance
December 31, 2013

No.

Account Title

Debit

Credit

101

Cash

$

20,000

124

Office supplies

2,000

128

Prepaid insurance

2,600

167

Equipment

59,000

168

Accumulated depreciation—Equipment

$

5,900

201

Accounts payable

15,500

210

Wages payable

1,100

301

C. Karise, Capital

38,000

302

C. Karise, Withdrawals

17,000

401

Repair fees earned

103,900

612

Depreciation expense—Equipment

5,900

623

Wages expense

38,000

637

Insurance expense

1,300

640

Rent expense

12,000

650

Office supplies expense

3,700

690

Utilities expense

2,900

Totals

$

164,400

$

164,400

On a separate tab in Excel, transfer the adjusted trial balance into a new tab within your Excel document.

1. Enter the adjusted trial balance in the first two columns of a six-column table using formulas for the totals column.

2. Use additional columns to enter closing entry information, using formulas to calculate the totals column

3. Use additional columns to show a post-closing trial balance, using formulas to calculate the totals column.

Part 3:

The adjusted trial balance of Karise Repairs on December 31, 2015, follows (NOTE: The amounts are different from the other parts of this project).

KARISE REPAIRS
Adjusted Trial Balance
December 31, 2015

No.

Account Title

Debit

Credit

101

Cash

$

19,000

124

Office supplies

1,300

128

Prepaid insurance

2,300

167

Equipment

59,000

168

Accumulated depreciation—Equipment

$

5,900

201

Accounts payable

15,500

210

Wages payable

1,100

301

C. Karise, Capital

33,000

302

C. Karise, Withdrawals

20,000

401

Repair fees earned

115,600

612

Depreciation expense—Equipment

5,900

623

Wages expense

40,000

637

Insurance expense

800

640

Rent expense

15,000

650

Office supplies expense

4,400

690

Utilities expense

3,400

Totals

$

171,100

$

171,100

1. On a separate tab in Excel, prepare the appropriate closing journal entries. Debits should be listed first, and credits should be indented. Descriptions are not required.

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