For Neo Exercises E4-1 Complete work sheet The adjusted trial balance columns of the work sheet for Cajon Company are as follows. CAJON COMPANY Work Sheet (partial) For the Month Ended April 30, 2006 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. 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 Instructions Complete the work sheet. E4-2 Prepare financial statements from work sheet. Work sheet data for Cajon Company are presented in E4-1. No common stock was issued during April. Instructions Prepare an income statement, a retained earnings statement, and a classified balance sheet. E4-3 Journalize and post closing entries and prepare a post-closing trial balance Work sheet data for Cajon Company are presented in E4-1. Instructions 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. *E4-11. Prepare closing and reversing entries. On December 31, the adjusted trial balance of Garg Employment Agency shows the following selected data. Accounts Receivable $24,000 Commission Revenue $92,000 Interest Expense 7,800 Interest Payable 1,500 Analysis shows that adjusting entries were made to (1) accrue $4,200 of commission revenue and (2) accrue $1,500 interest expense. Instructions a. Prepare the closing entries for the temporary accounts at December 31. b. Prepare the reversing entries on January 1. c. Post the entries in (a) and (b). Rule and balance the accounts. (Use T accounts.) d. Prepare the entries to record (1) the collection of the accrued commissions on January 10 and (2) the payment of all interest due ($2,700) on January 15. e. Post the entries in (d) to the temporary accounts. Problems P4-1A Prepare a work sheet, financial statements, and adjusting and closing entries. The trial balance columns of the work sheet for Undercover Roofing Inc. at March 31, 2006, are as follows. UNDERCOVER ROOFING INC. Work Sheet For the Month Ended March 31, 2006 Trial Balance Account Titles Dr. Cr. Cash 2,500 Accounts Receivable 1,800 Roofing Supplies 1,100 Equipment 6,000 Accumulated Depreciation—Equipment 1,200 Accounts Payable 1,400 Unearned Revenue 300 Common Stock 5,000 Retained Earnings 2,000 Dividends 600 Service Revenue 3,000 Salaries Expense 700 Miscellaneous Expense 200 12,900 12,900 Other data: 1.A physical count reveals only $140 of roofing supplies on hand. 2.Depreciation for March is $200. 3.Unearned revenue amounted to $130 after adjustment on March 31. 4.Accrued salaries are $350. Instructions a. Enter the trial balance on a work sheet and complete the work sheet. (a) Adjusted trial balance $13,450 b. Prepare an income statement and a retained earnings statement for the month of March and a classified balance sheet at March 31. No additional issuances of stock occurred in March. (b) Net income $ 9,760 Total assets $9,040 c.Journalize the adjusting entries from the adjustments columns of the work sheet. d.Journalize the closing entries from the financial statement columns of the work sheet.