Acc361 Financial Accounting E4-1, E4-2, E4-3 Cajon Company

Acc361 Financial Accounting

E4-1 The adjusted trial balance columns of the work sheet for Cajon Company are as follows.
Work Sheet (partial)
For the Month Ended April 30, 2006
Account Titles Adjusted Trial Balance
Dr. Cr.
Cash 14,752
Accounts Receivable 7,840
Prepaid Rent 2,280
Equipment 23,050
Accumulated Depreciation 4,921
Notes Payable 5,700
Accounts Payable 5,672
Common Stock 25,000
Retained Earnings 8,960
Dividends 3,650
Service Revenue 12,590
Salaries Expense 9,840
Rent Expense 760
Depreciation Expense 671
Interest Expense 57
Interest Payable 57
Totals $62,900 $62,900
Net Income

Complete the work sheet.

E4-2 Work sheet data for Cajon Company are presented in E4-1. No common stock was issued during April.

Prepare an income statement, a retained earnings statement, and a classified balance sheet.

E4-3 Work sheet data for Cajon Company are presented in E4-1.

(a) Journalize the closing entries at April 30.
(b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts.
(c) Prepare a post-closing trial balance at April 30.
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