怀尔德《会计学原理》19版答案Chapter-04.pdfVIP

Chapter 4 Completing the Accounting Cycle QUICK STUDIES Quick Study 4-1 (10 minutes) Income Summary balance after closing revenues and expenses Revenues: $42,000 + $8,000 = $50,000 Cr. Expenses: $31,000 + $11,000 + $5,000 = - 47,000 Dr. Credit balance (equal to net income) = $ 3,000 Cr. M. Irvine, Capital account balance after all closing entries Beginning balance $35,000 Plus net income 3,000 38,000 Less withdrawals 9,200 Ending balance $28,800 Quick Study 4-2 (5 minutes) 1. (i) Analyzing transactions and events. 2. (c) Journalizing transactions and events. 3. (e) Posting the journal entries. 4. (b) Preparing the unadjusted trial balance. 5. (f) Journalizing and posting adjusting entries. 6. (g) Preparing the adjusted trial balance. 7. (a) Preparing the financial statements. 8. (h) Journalizing and posting closing entries. 9. (d) Preparing the post-closing trial balance. Quick Study 4-3 (10 minutes) 1. E 2. C 3. E ©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 4 181 4. A 5. B 6. F 7. A 8. D Quick Study 4-4 (10 minutes) Current assets Cash $ 7,000 Accounts receivable 18,000 Office supplies 2,860 Prepaid insurance 3,500 Total current assets $31,360 Current liabilities Accounts payable $11,000 Unearned services revenue 3,000 Total current liabilities $14,000 Current ratio = $31,360 / $14,000 = 2.24 Quick Study 4-5 (10 minutes) Computation of J. Fischer, Capital for the Dec. 31, 2009, balan