Haupt consulting p3-43 and p4-38

P3-43  This problem continues the Haupt Consulting situation from Problem 2-64 of Chapter 2.  Start from the trial balance and the posted T-accounts that Haupt Consulting prepared at December 18 as follows:


Trial Balance

December 18, 2010


Account TitleDebitCredit


Accounts Receivable1,700



Accumulated depreciation – equipment


Accumulated depreciation -furniture

Accounts Payable$3,900

Salary Payable

Unearned service revenue

Carl Haupt, Capital10,000

Carl Haupt, Withdrawals

Service Revenue2,500

Rent expense500

Utilities expense200

Salary Expense

Depreciation expense -equipment

Depreciation expense -furniture

Supplies expense

Total$16,400 $16,400

Later in December, the business completed these transactions, as follows:

Dec 21   Received $900 in advance for client service to be performed evenly over the next 30 days.

Dec 21   Hired secretary to be paid $1,500 on the 20th day of each month.  The secretary begins work immediately.

Dec 26   Paid $300 on account

Dec 28   Collected $600 on account

Dec 30   Owner withdrew $1,600


1.  Open these additional T-accounts:  Accumulated depreciation-equipment; Accumulated depreciation-furniture; Salary payable; Unearned service revenue; Depreciation expense-equipment; Depreciation expense-furniture; Supplies expense.

2.  Journalize the transactions of Dec 21-30.

3.  Post to the T-accounts, keying all items by date

4.  Prepare a trial balance at December 31.  Also set up columns for the adjustments and for the adjusted trial balance.

5.  At December 31, the business gathers the following information for the adjusting entries:

  a. Accrued service revenue, $4,00

  b.Earned $300 of the service revenue collected in advance on December 21

  c.Supplies on hand, $100

  d.Depreciation expense-equipment, $33; furniture, $60

  e.Accrued $700 expense for secretary’s salary

On your work sheet make these adjustments directly in the adjustments columns, and complete the adjusted trial balance at December 31. Throughout the book, to avoid rounding errors, we base adjusting entries on 30-day months and 360-day years. 

6.  Journalize and post the adjusted entries.  In the T-accounts denote each adjusting amount as Adj and an account balance as Bal.

7.  Prepare the income statement and the statement of owner’s equity of Haupt Consulting for the month ended December 31, 2010, and prepare the balance sheet at that date.  

This problem continues the Haupt Consulting situation from Problem 3-43 of

Chapter 3. Start from the posted T-accounts and the adjusted trial balance that

Haupt Consulting prepared for the company at December 31:


1. Complete the accounting work sheet at Decemher 31.

2. Journalize and post the closing entries at Decemher 31. Denote each closing

amount as Cia and an account balance as Bal.

3. Prepare a classified balance sheet at December 31.

Semester Papers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

error: Content is protected !!