Complete the assigned exercises in WileyPLUS. You should see the following assignments that are due for a grade: · � Chapter 4 – Excel assignment NOTE: Assignment must be completed by Due Date. Automatic deduction of 50% of points if received after due date. No points awarded if completed after 4 days from Due Date. Excel Exercise 4-12 Excel Exercise 4-13 Excel Exercise 4-16 Excel Problem 4-1A E4-12 Prepare a correct income statement � � � � � � � � � � � � � � � � � � � � � � � � The income statement of Garska Co. for the month of July shows net income of $2,000 � � � � � � � � � � � � � � � � � � � � � � � � based on Service Revenue $5,500; Salaries and Wages $2,100; Supplies Expense $900; � � � � � � � � � � � � � � � � � � � � � � � � and Utilities Expense $500. In reviewing the statement, you discover the following: � � � � � � � � � � � � � � � � � � � � � � � � � 1. � Insurance expired during July of $350 was omitted. � � � � � � � � � � � � � � � � � � � � � 2. � Supplies expense includes $200 of supplies that are still on hand at July 31. � � � � � � � � � � � � � � � � � � � � � � � 3. � Depreciation on equipment of $150 was omitted. � � � � � � � � � � � � � � � � � � � � � � 4. � Accrued but unpaid wages at July 31 of $360 were not included, � � � � � � � � � � � � � � � � � � � � � 5. � Services performed but unrecorded totaled $700. � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Instructions � � � � � � � � � � � � � � � � � � � � � � � � Prepare a correct income statement for July 2014. � � � � � � � � � � � � � � � � � � � � � � � � NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” . � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � E4-13 Analyze adjusted data � � � � � � � � � � � � � � � � � � � This is a partial adjusted trial balance of Barone Company � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � BARONE COMPANY � � � � � � � � � � � � � � � Adjusted Trial Balance � � � � � � � � � � � � � � � � � � � � January 31, 2014 � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Debit Credit � � � � � � � � � Supplies � � � � � � $700 � � � � � � � � � � � � Prepaid Insurance � � � � � � 1,560 � � � � � � � � � � � � Salaries and Wages Payable � � � � � � � $1,060 � � � � � � � � � � � Unearned Service Revenue � � � � � � � � 750 � � � � � � � � � � Supplies Expense � � � � � � 950 � � � � � � � � � � � � Insurance Expense � � � � � 520 � � � � � � � � � � � � Salaries and Wages Expense � � � � � 1,800 � � � � � � � � � � � � Service Revenue � � � � � � � � 4,000 � � � � � � � � � � � � � � � � � � � � � � � � � � � � Instructions � � � � � � � � � � � � � � � � � � � � Answer these questions, assuming the year begins January 1. � � � � � � � � � � � � � � � � � � � � � (a) � If the amount in Supplies Expense is the January 31 adjusting entry, and � � � � � � � � � � � � � � � � � � $300 of supplies was purchased in January, what was the balance in Supplies � � � � � � � � � � � � � � � � � � � on January 1? � � � � � � � � � � � � � � � � � (b) � If the amount in Insurance Expense is the January 31 adjusting entry, and the � � � � � � � � � � � � � � � � � � � original insurance premium was for 1 year, what was the total premium and � � � � � � � � � � � � � � � � � � � � when was the policy purchased? � � � � � � � � � � � � � � � � � � (c ) � If $2,500 of salaries was paid in January, what was the balance in Salaries and � � � � � � � � � � � � � � � � � � � Wages Payable at December 31, 2013? � � � � � � � � � � � � � � � � � � (d) � If $1,800 was received in January for services performed in January, what was � � � � � � � � � � � � � � � � � � � the balance in Unearned Service Revenue at December 31, 2013? � � � � � � � � � � � � � � � � � NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” . � � � � � � � � � � � � � � � � � � � E4-16 Prepare adjusting entries from analysis of trial balance � � � � � � � � � � � � � � � � � � � � The trial balance shown below are before and after adjustment for Bere Company at the end of its fiscal year. � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � BERE OMPANY � � � � � � � � � � � � � � � � � � � � Trial Balance � � � � � � � � � � � � � � � � � � � August 31, 2014 � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Instructions � � � � � � � � � � � � � � � � � � � � Prepare the adjusting entries that were made � � � � � � � � � � � � � � � � � � � NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a “?” . � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � P4-1A Record transactions on accrual basis; convert revenue to cash receipts � � � � � � � � � � � � � � � � � � � � � � The following selected data are taken from the comparative financial statements of American&
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