Asset Accounts Acct # Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipent "isc Supplies Acc%unts Recei&a'le Accuulated )epreciati%n "erchandise In&ent%r+
101 102 103 104 10! 10$ 10( 10* 10,
-his chart %. acc%unts sh%uld help +%u identi.+ the appr%pria %urnaling transacti%ns .%r this %rk'%%k -here is n%thing t% +%u
Liability Accounts Acct # %tes Pa+a'le Acc%unts Pa+a'le ages Pa+a'le Interest Pa+a'le
te acc%unts t% rec%rd t% as +%u are anal+/ing and %plete %n this page this is sipl+ a res%urce .%r
201 202 203 204
Equity Accounts Acct # C%%n St%ck )i&idends
301 302
Revenue Accounts Acct # Baker+ Sales "erchandise Sales
401 402
Expense Accounts Acct # Baking Supplies E5pense Rent E5pense Insurance E5pense "isc E5pense Business 6icense E5pense Ad&ertising E5pense ages E5pense -eleph%ne E5pense Interest E5pense )epreciati%n E5pense "isc Supplies E5pense C%st %. 7%%ds S%ld
!01 !02 !03 !04 !0! !0$ !0( !0* !0, !10 !11 !12
Peyton Approved General Journal Entries Jul-14 Date Accounts 1-Jul Cash Common Stock Contributed cash for common stock
1-Jul
Baking Supplies Accounts Payable
7-Jul
Accounts Payable Cash
3-Jul
!elephone "#pense Account Payable
31-Jul
Salary and $ages "#pense Cash
31-Jul
Salary and $ages "#pense Cash
31-Jul
Account %ecie&able cash
31-Jul
Account %ecie&able cash
Debit 1'()
Credit
1'()
*')
*(')
1(') 3() +') +') 1,) 1,) 1,) 1,) '() 1() 1'() 1'()
Peyton Approved General Journal Entries Aug-14 Date Accounts '-Aug Accounts %ecie&able Accounts %ecie&able
*-Aug Accounts %ecie&able Accounts %ecie&able 1-Aug Accounts Payable Cash 1'-Aug Salary and $ages "#pense Cash 1'-Aug %ent "#pense Prepaid %ent 1*-Aug Account %ecie&able Cash ,-Aug Accounts Payable Cash ,,-Aug
isc Supplies cash
31-Aug !elephone "#pense
31-Aug Salary and $ages "#pense Cash 31-Aug Account %ecie&able Cash
31-Aug Cash Sales %e&enue
Debit 1,
Credit
1,
3(,)
3(,)
3,
+') +') +*) +*) 1(') 1(') 1() 1() *(') *(') 3) 3) +') +')
+,) +,) 7(') 1,(')
,() ,()
Peyton Approved General Journal Entries Sep-14 Date 1-Sep .i&idends Cash
Accounts
'-Sep Salary and $ages "#pense Cash 7-Sep erchandise /n&entory Cash *-Sep
Account %ecie&able Cash
1-Sep
Accounts Payable Cash
11-Sep Baking Supplies cash 13-Sep Accounts Payable Cash 1'-Sep %ent "#pense Cash 1'-Sep iscellaneous Supplies Cash 1'-Sep
erchandis /n&entory Cash
,-Sep Salary and $ages "#pense Cash ,-Sep erchandise /n&entory Cash ,+-Sep Cash erchandise Sale
,+-Sep erchandise /n&entory Cash %e&enue 3-Sep eruchandise /n&entory Cash %e&enue 3-Sep Cash Sales %e&enue
Debit 3()
Credit
3() +,) +,) 0) 0) +() +() +') +') 7() 7() '() '() +'0) +'0) 0*) 0*) +*) +*) +'0) +'0) 1,,) 1,,) 1'3) 1'3)
1)0, 1)0, 1'1),' 1'1),' ,'() ,'()
8I89 )ate (:Sep
Purchases 10 ; $00 ;
Sales $000
1!:Sep 20:Sep
20 ;
$10 ;
2! ;
!!
6I89 (:Sep
$0! ;
1!12!
;
3332!
Purchases 10 ; $00 ;
24:Sep
20 ;
$10 ;
2 ; 1$ ;
$00 $10
2$
Sales $000
1!:Sep 20:Sep
$00
12200
24:Sep
30:Sep
* ;
* ;
$00
1* ;
$10
12200
30:Sep
2! ;
!!
eighted a&erage (:Sep
$0! ;
1!12!
;
3332!
Purchases 10 ; $00 ;
Sales $000
1!:Sep 20:Sep
20 ;
$10 ;
2! ; !!
* ;
$00
1* ;
$0,
12200
24:Sep 30:Sep
2$
$0! ;
1!12!
;
3332!
2$
Ending In&ent%r+ 10 ; $00 ; $000 ;
; ; ;
;
4*00
1200 ,($0 10,$0
1!($0
2
;
$00
;
1200
2 20 22
; ;
$00 $10
; ; ;
1200 12200 13400
(:Sep
1!:Sep
1!:Sep 4 ;
$10
;
2440
4 ; 2! ; 2, 2,
$10 $0!
; ; ; ;
2440 1!12! 1(!$! 1(!$!
20:Sep
24:Sep
24:Sep
30:Sep
Ending In&ent%r+ 10 ; $00 ; $000 ;
4*00
2
;
$00
;
(:Sep
1200 1!:Sep
2 20 22
; ;
$00 $10
; ; ;
1200 12200 13400 1!:Sep
;
10,*0
2 2
; ;
$00 $10
; ;
1200 1220
4
;
2420 20:Sep
;
1!(*0
2 ; 2 ; 2! ; 2, 2,
$00 $10 $0!
; ; ; ; ;
1200 1220 1!12! 1(!4! 1(!4!
24:Sep
24:Sep
30:Sep
Ending In&ent%r+ 10 ; $00 ;$0 ;
4*00
2
;
$00
;
(:Sep
1200 1!:Sep
2 ; 20 ; 22
$00 $10
; ; ;
1200 12200 per unit 13400 ;$0, 1!:Sep
;
10,$2
1!($2
4 4 2! ; 2,
;
$0!
; ; ;
243* : 1!12! 1!12! ;!22
20:Sep
24:Sep
24:Sep
30:Sep
"erchandise In&ent%r+ <10 5 ;$= Cash Purchased in&ent%r+
Dr $000
Cr $000
Cash <* 5 ;*!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
$*00
C%st %. 7%%ds S%ld <* > ;$= "erchandise In&ent%r+ Rec%rded the c%st %. g%%ds s%ld
4*00
$*00
4*00
"erchandise In&ent%r+ <20 5 ;$10 = Cash
12200
Cash <1* 5 *!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
1!300
C%st %. 7%%ds S%ld <2 5 ;$=?<1$ 5 ;$10= "erchandise In&ent%r+ Rec%rded the c%st %. g%%ds s%ld
10,$0
"erchandise In&ent%r+ <2! 5 ;$0!= Cash
1!12!
12200
1!300
10,$0
1!12!
"erchandise In&ent%r+ <10 5 ;$= Cash Purchased in&ent%r+
$000
Cash <* 5 ;*!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
$*00
C%st %. 7%%ds S%ld <* > ;$= "erchandise In&ent%r+ Rec%rd in&ent%r+ reducti%n due t% sale
4*00
$000
$*00
4*00
"erchandise In&ent%r+ <20 5 ;$10= Cash
12200
Cash <1* 5 *!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
1!300
C%st %. 7%%ds S%ld <1* 5 ;$10= "erchandise In&ent%r+ Rec%rd in&ent%r+ reducti%n due t% sale
10,*0
"erchandise In&ent%r+ <2! 5 ;$0!= Cash
1!12!
12200
1!300
10,*0
1!12!
"erchandise In&ent%r+ <10 5 ;$= Cash Purchased in&ent%r+
$000
Cash <* 5 ;*!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
$*00
C%st %. 7%%ds S%ld <* > ;$= "erchandise In&ent%r+ Rec%rd in&ent%r+ reducti%n due t% sale
4*00
$000
$*00
4*00
"erchandise In&ent%r+ <20 5 ;$10= Cash
12200
Cash <1* 5 *!0= "erchandise Sales Re&enue Rec%rd sale %. in&ent%r+
1!300
C%st %. 7%%ds S%ld <1* 5 ;$0,= "erchandise In&ent%r+ Rec%rd in&ent%r+ reducti%n due t% sale
10,$2
"erchandise In&ent%r+ <2! 5 ;$0!= Cash
1!12!
12200
1!300
10,$2
1!12!
Purchases 9/7: 10 bottles purchased at $6 9/20: 20 bottles purchased at $6.10 9/30 2! '%ttles purchased at ;$0! Sales @ selling price ;*!0 a '%ttle 9/15: 8 bottles 9/24: 18 bottles
Cash 1!00000 1000000 !00000 2000000 22!0000 2(00000 $*00 2!00000 1!300 1*(00 20400 3000000
%tes Pa+a'le 3(!00 2!000 20000 100000 30000 300000 120000 12000 4!00 4*000
30000 *!0000 42000 4!00 4!$00 1!0000 32!00 4*000 200000 ,00000 4!00 31000 44400 1!0000 2!0000 4*000 $000 12200 1000000 4!00 30000 42000 1!0000 3$000 2!0000 1000000
10000 0
10000 10000
1!!11200 *,1,21!
30000 4!00 1!12! 1*000 121$0 !4000 1!0000 2!0000
$!,1,*!
"isc e5pense 2!000
Baking equipent !000
2!000
!000
Baking supplies 1000 4,400 ad *!00 ,00000 1000000 1000000 1200000 !0!00 4,400 1100
Prepaid rent 3000
1!00
1!00
"isc supplies 300 30000 32!00 31000 30000 30000 1*3! !0
Prepaid insurance 1200
$00
1(*!
1(*!
$00
Acc%unts pa+a'le *!0000 *!0000 ,00000 ,00000 1000000 1000000 1000000 1000000 4!00 1200000 4!00 4!00 4!00 4!00 4!00 4!00 4!00 4!00 4!00 4!00 3((2! 4,((0 1204!
-eleph%ne e5pense 4!00 4!00 4!00 4!00 4!00 4!00 2(000
Salar+ and ages e5pense 12000 4*000 42000 4!$00 4*000 44400 4*000 42000 3$000 !4000 4*000
4$*0
)i&idends 2000 2!00 2!00 2!00 ,!00
ad
'aking supplies e5pense 4,400
isc supplies e5pense ad
"erch In& 8I89 $000 12200 1!12! 1*000
4*00 10,$0 13330 1443!
"erchandise Sales Re&enue $*00 1!300 1*(00 20400 61.00
121$0 $34*! 199.60
C97S 8I89 4*00 10,$0 13330 1443! !"#.#
43!2!
Business 6icense e5p 3(!00 3(!00 3(!00
0
C%%n St%ck 1!000 !000 0 20000 20000
Ad&ertising e5pense 20000
20000
ad
Rent e5pense 1!0000 1!0000 1!0000 1!0000 1!0000
ad
(!0000
Baker+ re&enue ad
!000 20000 22!00 2(000 2!000
Insurance e5pense $0000
30000
12,!00
Salaries and ages pa+a'le 4*0
ad
)epreciati%n e5pense 4!*
ad
Interest e5pense 300
4*0 4*0
"erch In& 6I89 $000 4*00 12200 10,*0 1!12! 13200 1*000 144*0
Acc
Interest
a&er $000 12200 1!12! 1*000
121$0 $34*! 00.#
C97S 6I89 4*00 10,*0 13200 144*0 !"!.60
434$0
121$0 $34*! 199.9#
C97S eigh 4*00 10,$4 132$0 144$$ !"!.90
dep 4!* ad
pa+a'le 300 ad
age
4*00 10,$4 132$0 144$$
434,0
ed a&erage
Account Cash Baking Supplies erchandise /n&entory Prepaid %ent Prepaid /nsurance
"nad#usted trial b Debit
Baking "2uipment isc) Supplies Accounts %ecei&able otes Payable Accounts Payable $ages Payable Common Stock .i&idends Bakery Sales erchandise Sales Baking Supplies "#pense %ent "#pense /nsurance "#pense isc) "#pense Business 4icense "#pense Ad&ertising "#pense $ages "#pense !elephone "#pense C56S .epreciation "#pense Accumulated .epreciation isc Supplies "#pense /nterest "#pense /nterest Payable
-
-hese acc%unts ill n%t 'e utili/ed 'e.%re the adusting pr%cess -he+ sh
Peyton Approved Trial Balance !14 lance Credit
Ad#usting entries Debit Credit
,*)33
Ad#usted trial balance Debit Credit
888 ,*)33
-
,*)33
,*)33
,*)33
,*)33
,*)33
: %uld ha&e /er% 'alance in the unadusted trial 'alance
C$%PLE&'$( $) *&EP* #+, DEL'-ERALE/
C$(5RA&4LA&'$(* 7$4 ARE ($ READ7 &$ *4%'& 7$4R $R$$ &$ C$%PLE&E &2E !+" C2ECP$'(& RE34'RE%E(&
Peyton Approved Ad#usting Journal Entries !14 Date Accounts 3-Sep .epreciation "#pense accumulated depreciation
Debit ,*)33
Credit
,*)33
Peyton Approved $nco%e State%ent &or 'tr( Ending )*+!*!14
Peyton Approved State%ent o, etained Earnings &or 'tr( Ending )*+!*!14
Assets
Peyton Approved Balance S.eet As o, Septe%ber +!/ !14 0iabilities and 2ners3
Euity
Peyton Approved Closing Entries )*+!*!14 Date
Accounts
Debit
Credit
Peyton Approved Post Closing Trial Balance )*+!*!14 Account
"nad#usted Trial Balance Debit Credit
Peyton Approved eversing Entries )*+!*!14 Date
Accounts
Debit
Credit
C$%PLE&'$( $) *&EP* 8+11 DE
C$(5RA&4LA&'$(* 7$4 C$%PLE&ED $R$$ *&EP RE34'RE%E(&
