ACC 600: Accounting and Finance for Managers | Coursehero Solutions

ACC 600: Accounting and Finance for Managers

Assignments: Week Three

Exercise 1

Preparing a Worksheet

The unadjusted trial balance of Voice Link at November 30, 2016, follows:

AIDitional information at November 30, 2016:

1. Accrued service revenue, $600.
2. Depreciation, $300.
3. Accrued salaries expense, $600.
4. Prepaid rent expired, $900.
5. Office Supplies used, $500.

Instructions

1. Complete Voice Link’s worksheet for the month ended November 30, 2016.
2. How much was net income for November?

Exercise #2

Preparing a worksheet, closing entries, and a post-closing trial balance

San Antonio Veterinary Hospital completed the following worksheet as of December 31, 2016:

Instructions

1. Complete the worksheet for San Antonio Veterinary Hospital.
2. Prepare the closing entries.
3. Prepare the post-closing trial balance.