Question

A partially completed worksheet for At Home Pet Grooming Service, a firm that grooms pets at the owner’s home, follows.

Required:

Complete the worksheet.

Record the adjusting entries in the general journal (transactions 1-3).

Record the closing entries in the general journal (transactions 4-7).

Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances.

Prepare a post-closing trial balance.

Complete this question by entering your answers in the tabs below.

Req 1

Req 2 and 3

Req 4

Req 5

Analyze

Complete the worksheet.

At Home Pet Grooming Service Worksheet Month Ended December 31, 2019 Trial Balance Adjustments Adjusted Trail Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash $30,450 Accounts receivable 4,650 Supplies 2,800 1,300 Prepaid advertising 2,400 1,100 Equipment 19,400 Accumulated depreciation—Equipment 420 Accounts payable 4,400 Shara Johns, Capital 29,500 Shara Johns, Drawing 1,400 Fees income 32,040 Salaries expense 4,200 Utilities expense 640 Supplies expense 1,300 Advertising expense 1,100 Depreciation expense—Equipment 420 Totals $65,940 $65,940 $2,820 $2,820 Net income

Answer 1

At Home Pet Grooming Service
Worksheet
Month Ended December 31, 2019
	Trial Balance		Adjustments		Adjusted Trail Balance		Income Statement		Balance Sheet
Account Name	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	30,450				30,450				30,450
Accounts receivable	4,650				4,650				4,650
Supplies	2,800			1,300	1,500				1,500
Prepaid advertising	2,400			1,100	1,300				1,300
Equipment	19,400				19,400				19,400
Accumulated depreciation—Equipment				420		420				420
Accounts payable		4,400				4,400				4,400
Shara Johns, Capital		29,500				29,500				53,880
Shara Johns, Drawing	1,400				1,400				1,400
Fees income		32,040				32,040		32,040
Salaries expense	4,200				4,200		4,200
Utilities expense	640				640		640
Supplies expense			1,300		1,300		1,300
Advertising expense			1,100		1,100		1,100
Depreciation expense—Equipment			420		420		420
Totals	65,940	65,940	2,820	2,820	66,360	66,360	7,660	32,040	58,700	58,700
Net income							24,380