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This solution is comprised of a detailed explanation to prepare an income statement from the data, a retained earnings statement, balance sheet, and post-closing trial balance.

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Cajon Company

Name: Date:
Instructor: Course:
Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercises E4-1, E4-2, and E4-3, 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
Debit Credit Debit Credit Debit Credit
Cash $14,752 $14,752
Accounts Receivable 7,840 7,840
Prepaid Rent 2,280 2,280
Equipment 23,050 23,050
Accum Dep - Equip $4,921 4,921
Notes Payable 5,700 5,700
Accounts Payable 5,672 5,672
Common Stock 25,000 25,000
Retained Earnings 8,960 8,960
Dividends 3,650 3,650
Service Revenue 12,590 $12,590
Salaries Expense 9,840 $9,840
Rent Expense 760 $760
Depreciation Expense 671 $671
Interest Expense 57 $57 ...

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