Documente Academic
Documente Profesional
Documente Cultură
Asset Accounts
Acct #
Cash 101
Baking Supplies 102
Prepaid Rent 103
Prepaid Insurance 104
Baking Equipment 105
Office Supplies 106
Accounts Receivable 107
Accumulated Depreciation 108
Merchandise Inventory 109
This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and
journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource
for you.
entries. Only accounts on this page can be used.
Revenue Accounts
Bakery Sales
Merchandise Sales
he appropriate accounts to record to as you are analyzing and
is nothing to complete on this page; this is simply a resource
for you. Expense Accounts
ts
Acct #
401
402
ts
Acct #
501
502
503
504
505
506
507
508
509
510
511
512
Peyton Approved
General Journal Entries
Jul-18
108,440.00 108,440.00
Put entries in shaded cells
Peyton Approved
General Journal Entries
Aug-18
122.00 20-Sep
24-Sep 153.00
151.25 30-Sep
30-Sep 14,000.00
67,521.00 35,284.25
32,236.75
18,500 600
13,650 18,650
5,000
Telephone expense
30-Jul 75 1,956
31-Aug 75
Dividends
1-Sep 10,000
150
10,000
Merchandise Sales
Revenue
68.00 15-Sep
153.00 24-Sep
221.00
Business License exp Common Stock
10-Jul 375.00 10,000 1-Jul
6,000 13-Jul
16,000
Insurance expense
Advertising expense
13-Jul 200.00
Rent expense
7-Jul 1,500
15-Aug 1,500
15-Sep 1,500
4,500
Bakery Sales
15,000 31-Jul
20,000 31-Aug
20,000 30-Sep
55,000
Salaries and wages payable
120 31-Jul
5-Aug 120
480 15-Aug
20-Aug 480
420 31-Aug
5-Sep 420
456.00 15-Sep
20-Sep 456
480.00 30-Sep
1,476 1,956
480
COGS FIFO
15-Sep 48.00
24-Sep 109.60
157.60
Merch. Inv. FIFO
7-Sep 60.00
48.00 15-Sep
20-Sep 122.00
109.60 24-Sep
30-Sep 151.25
333.25 157.60
175.65
Peyton Approved
Trial Balance
2018
Unadjusted trial balance
Account Debit Credit
Cash 32,236.75
Baking Supplies 18,500.00
Merchandise Inventory (FIFO) 175.65
Prepaid Rent 1,500.00
Prepaid Insurance 2,400.00
Baking Equipment 6,000.00
Accumulated Depreciation
Office Supplies 600.00
Accounts Receivable 7,700.00
Notes Payable 10,000.00
Interest Payable
Accounts Payable 5,000.00
Wages Payable 480.00
Common Stock 16,000.00
Dividends 10,000.00
Bakery Sales 55,000.00
Merchandise Sales 221.00
Baking Supplies Expense
Rent Expense 4,500.00
Interest Expense
Insurance Expense
Depreciation Expense
Misc. Expense 250.00
Office Supplies Expense
Business License Expense 375.00
Advertising Expense 200.00
Wages Expense 1,956.00
Telephone Expense 150.00
COGS (FIFO) 157.60
18,750.00 18,750.00
Peyton Approved
Income Statement
For Qtr. Ending 9/30/2018
Revenues:
Bakery Sales $ 55,000.00
Merchandise Sales 221.00
Total Revenues 55,221.00
Cost of Goods Sold 157.6
Gross Profit (FIFO) 55,063.40
Operating Expenses:
Rent Expenses 4,500.00
Insurance Expense 400.00
Misc. Expenses 250.00
Advertising Expense 200.00
License Expense 375.00
Wages Expense 1,956.00
Phone Expense 150.00
Depre Expense 250.00
Interest Expense 150.00
Office Supplies 550.00
Baking Supplies 17,400.00
Total Operating Expenses: 26,181.00
Beginning Balance: -
plus Net Income (FIFO) 28,882.40
less Dividends: (10,000.00)
Ending Balance (FIFO): 18,882.40
Peyton Approved
Balance Sheet
As of September 30, 2018
Assets
Current Assets:
Cash 32,236.75
Baking Supplies 1,100.00
Merchandise Inventory (FIFO) 175.65
Prepaid Rent 1,500.00
Prepaid Insurance 2,000.00
Misc Supplies 50.00
Accounts Receivable 7,700.00
Long-Term/Fixed Assets:
Banking Equipment 6,000.00
Less Accumulated Depreciation 250.00
Long-Term Liabilities:
Notes Payable 10,000.00
Total Long-Term Liabilities: 10,000.00
Equity:
Common Stock 16,000.00
Retained Earnings (FIFO) 18882.4
Totals 50,512.40
adjusted Trial Balance
Credit
5,000.00
480.00
150.00
10,000.00
16,000.00
18,882.40
50,512.40
Peyton Approved
Reversing Entries
Qtr ending 9/30/2018