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P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows. PORTER COMPANY

PORTER COMPANY - P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows

Worksheet For the Year Ended December 31, 2008

Adjusted Account Trial Balance
No.      Account Titles             Dr.                   Cr.
101      Cash18,800
112      Accounts Receivable   16,200
126      Supplies 2,300

Adjusted Account Trial Balance
No. Account Titles       Dr.                   Cr.
130      Prepaid Insurance        4,400
151      Office Equipment        44,000
152      Accumulated Depreciation—Office Equipment 20,000
200      Notes Payable 20,000
201      Accounts Payable 8,000
212      Salaries Payable 2,600
230      Interest Payable 1,000
311      Common Stock 30,000
320      Retained Earnings 6,000
332      Dividends 12,000
400      Service Revenue 77,800
610      Advertising Expense 12,000
631      Supplies Expense 3,700
711      Depreciation Expense 8,000
722      Insurance Expense 4,000
726      Salaries Expense 39,000
905      Interest Expense 1,000
Totals   165,400           165,400

Instructions
(a) Complete the worksheet by extending the balances to the financial statement columns.
(b) Prepare an income statement, a retained earnings statement, and a classified balance sheet.
$10,000 of the notes payable become due in 2009. No additional issuance of common stock occurred during 2008.
(c) Prepare the closing entries. Use J14 for the journal page.
(d) Post the closing entries. Use the three-column form of account. Income Summary is account No. 350.
(e) Prepare a post-closing trial balance.
 
File name: P4-2A-porter-company1.xls File type: application/vnd.ms-excel  Price: $10