Problem 4-1A Template

Complete the attached, Problem 4-1A Template.  Please refer to Ch. 4,  in your textbook for detailed instructions.  Save your completed work and submit via CANVAS. I am posting below something from the book:Chapter Review4-8dPractice ExercisesPE 4-1AFlow of accounts into financial statementsObj. 1Example Exercise 4-1The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.Accounts Payable Depreciation Expense Nat Hager, Capital (beginning of period) Office Equipment Rent Revenue Supplies Expense Unearned Rent Wages Payable PE 4-1BFlow of accounts into financial statementsObj. 1Example Exercise 4-1The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.Accumulated Depreciation Cash Fees Earned Insurance Expense Prepaid Rent Supplies Tina Greer, Drawing Wages Expense PE 4-2AStatement of owner’s equityObj. 2Example Exercise 4-2Marcie Davies owns and operates Gemini Advertising Services. On January 1, 2018, Marcie Davies, Capital had a balance of $618,500. During the year, Marcie invested an additional $40,000 and withdrew $15,000. For the year ended December 31, 2018, Gemini Advertising Services reported a net income of $92,330. Prepare a statement of owner’s equity for the year ended December 31, 2018.PE 4-2BStatement of owner’s equityObj. 2Example Exercise 4-2Blake Knudson owns and operates Grab Bag Delivery Services. On January 1, 2018, Blake Knudson, Capital had a balance of $918,000. During the year, Blake made no additional investments and withdrew $15,000. For the year ended December 31, 2018, Grab Bag Delivery Services reported a net loss of $43,500. Prepare a statement of owner’s equity for the year ended December 31, 2018.PE 4-3AClassified balance sheetObj. 2Example Exercise 4-3The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Waterloo Consulting.Building Cindy Sue Delaney, Capital Notes Payable (due in five years) Prepaid Rent Salaries Payable Supplies Taxes Payable Unearned Service Fees PE 4-3BClassified balance sheetObj. 2Example Exercise 4-3The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.Accounts Payable Accounts Receivable Accumulated Depreciation—Building Cash Lea Gabel, Capital Note Payable (due in ten years) Supplies Wages Payable PE 4-4AClosing entriesObj. 3Example Exercise 4-4After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.:Journalize the two entries required to close the accounts.PE 4-4BClosing entriesObj. 3Example Exercise 4-4After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.:Journalize the two entries required to close the accounts.PE 4-5AAccounting cycleObj. 4Example Exercise 4-5From the following list of steps in the accounting cycle, identify what two steps are missing:Transactions are analyzed and recorded in the journal. An unadjusted trial balance is prepared. Adjustment data are assembled and analyzed. An optional end-of-period spreadsheet is prepared. Adjusting entries are journalized and posted to the ledger. An adjusted trial balance is prepared. Closing entries are journalized and posted to the ledger. A post-closing trial balance is prepared. PE 4-5BAccounting cycleObj. 4Example Exercise 4-5From the following list of steps in the accounting cycle, identify what two steps are missing:Transactions are analyzed and recorded in the journal. Transactions are posted to the ledger. An unadjusted trial balance is prepared. An optional end-of-period spreadsheet is prepared. Adjusting entries are journalized and posted to the ledger. An adjusted trial balance is prepared. Financial statements are prepared. A post-closing trial balance is prepared. PE 4-6AWorking capital and current ratioObj. 7Example Exercise 4-6Current assets and current liabilities for HQ Properties Company follow:Determine the working capital and current ratio for 2019 and 2018. Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change? PE 4-6BWorking capital and current ratioObj. 7Example Exercise 4-6?Current assets and current liabilities for Brimstone Company follow:Determine the working capital and current ratio for 2019 and 2018. Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change?

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