Augusta State University Accounting Unadjusted Trial Balance for Walton Anvils Worksheet

The unadjusted trial balance for Walton Anvils as of December 31, 2016, and the data for the adjustments.

Adjustment Data

Requirements

1. Open T-accounts using the balances in the unadjusted trial balance.
2. Complete the worksheet for the year ended December 31, 2016.
3. Prepare the adjusting entries and post to the T-accounts.
4. Prepare the adjusted trial balance.
5. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form.
6. Prepare the closing entries and post to the T-accounts.
7. Prepare a post-closing trial balance.
8. Calculate the current ratio for the company.

Walton Anviles
UnAdjusted Trial Balance
December 31, 2016
Account Title
Cash
Accounts Receivable
Prepaid Rent
Office Supplies
Equipment
Accumulated Depreciation – Equipment
Accounts Payable
Salaries Payable
Unearned Revenue
Common Stock
Retained Earnings
Dividends
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense – Equipment
Supplies Expense
Total
Balance
Debt
Credit
$ 16,900.00
17,500
2,500
1,900
23,000
$ 7,000.00
6,200.00
5,600.00
28,000.00
1,600.00
4,500
20,800.00
2,900
$ 69,200.00 $ 69,200.00
a.
b.
c.
d.
e.
Unearned revenue still unearned at December 31
Prepaid rent still in force at December 31
Office supplies used
Depreciation
Accrued Salaries Expense at December 31
$1,800
$2,300
$1,400
$380
$210
Cash
Accounts Payable
Accounts Receivable
Salaries Payable
Prepaid Rent
Unearned Revenue
Office Supplies
Equipment
Accumulated
Depreciation Equipment
Common Stock
Retained Earnings
Dividends
Income Summary
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense Equipment
Supplies Expense
Account Names
Walton Anvils
Worksheet
December 31, 2016
Adjustments
Unadjusted Trial Balance
Debit
Credit
Debit
Credit
vils
et
2016
Adjusted Trial Balance
Debit
Credit
Income Statement
Debit
Credit
Balance Sheet
Debit
Credit
Journal
Date
Accounts and explanation
Posting Ref.
Debit
Credit
Cash
Accounts Payable
Accounts Receivable
Salaries Payable
Prepaid Rent
Unearned Revenue
Office Supplies
Equipment
Accumulated
Accounts Payable
Common Stock
Salaries Payable
Retained Earnings
Unearned Revenue
Dividends
Income Summary
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense –
Supplies Expense
Walton Anvils
Adjusted Trial Balance
December 31, 2016
Account Title
Total
Debt
Balance
Credit
Walton Anvils
Income Statement
Year Ended December 31, 2016
Revenue
Expenses
Total Expense
Net Income
Walton Anvils
Statement of Retained Earnings
Year Ended December 31, 2016
Retained earnings, January 1, 2016
Net Income
Walton
Balanc
Decembe
As
Current assets:
Dividends
Retained earnings, December 31, 2016
Total current assets
Plant Assets:
Total plant assets
Total Assets
Liab
Current liabilities:
Total current liabilites
Total Liabilities
Stockhold
Total stockholders equity
Total Libiliaties and Stockholders Equity
Walton Anvils
Balance Sheet
December 31, 2016
Assets
Liabilities
Stockholders’ Equity
kholders equity
and Stockholders Equity
Date
Journal
Accounts and explanation
Debit
Credit
Cash
Accounts Payable
Accounts Receivable
Salaries Payable
Prepaid Rent
Unearned Revenue
Office Supplies
Equipment
Accumulated
Common Stock
Retained Earnings
Dividends
Income Summary
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense –
Supplies Expense
Walton Anvils
Post-Closing Trial Balance
December 31, 2016
Account Title
Total
Debt
Balance
Credit
Current Ratio = Total Current Assets / Total Current Liabilities
Total Current Assets
Total Current Liabilities

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