CONTINUING PROBLEM (CONTINUED)
SUAREZ COMPUTER CENTER
GENERAL LEDGER
CASH
ACCOUNT NO. 1000
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
PETTY CASH
ACCOUNT NO. 1010
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
3
0
0
ACCOUNTS RECEIVABLE
ACCOUNT NO. 1020
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
12
3
7
0
MERCHANDISE INVENTORY
ACCOUNT NO. 1021
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
5
Adjusting
GJ12
5
3
5
5
2
0
0
CONTINUING PROBLEM (CONTINUED)
PREPAID RENT
ACCOUNT NO. 1025
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
SUPPLIES
ACCOUNT NO. 1030
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
6
1
2
Adjusting
2
5
3
3
7
COMPUTER SHOP EQUIPMENT
ACCOUNT NO. 1080
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
ACCUMULATED DEPRECIATION, C.S. EQUIPMENT
ACCOUNT NO. 1081
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
1
OFFICE EQUIPMENT
ACCOUNT NO. 1090
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
2
1
7
5
CONTINUING PROBLEM (CONTINUED)
ACCUMULATED DEPRECIATION, OFFICE EQUIPMENT
ACCOUNT NO. 1091
Date
201X
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
ACCOUNTS PAYABLE
ACCOUNT NO. 2000
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
WAGES PAYABLE
ACCOUNT NO. 2010
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
FICA OASDI PAYABLE
ACCOUNT NO. 2020
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
FICA MEDICARE PAYABLE
ACCOUNT NO. 2030
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
CONTINUING PROBLEM(CONTINUED)
FIT PAYABLE
ACCOUNT NO. 2040
Date
Explanation
Ref.
Debit
Credit
Debit
Credit
SIT PAYABLE
ACCOUNT NO. 2050
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
ACCOUNT NO. 2060
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Post
SUTA TAX PAYABLE
ACCOUNT NO. 2070
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
FALCO, CAPITAL
ACCOUNT NO. 3000
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
FALCO, WITHDRAWALS
ACCOUNT NO. 3010
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
CONTINUING PROBLEM (CONTINUED)
INCOME SUMMARY
ACCOUNT NO. 3020
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
SERVICE REVENUE
ACCOUNT NO. 4000
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
20
9
0
0
SALES
ACCOUNT NO. 4010
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
31
Balance
6
8
0
SALES RETURN AND ALLOWANCES
ACCOUNT NO. 4020
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
31
Balance
4
6
0
SALES DISCOUNTS
ACCOUNT NO. 4030
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
31
Balance
2
4
3
CONTINUING PROBLEM (CONTINUED)
COST OF GOODS SOLD
ACCOUNT NO. 5000
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
√
2
2
5
5
3
5
ADVERTISING EXPENSE
ACCOUNT NO. 5010
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
√
RENT EXPENSE
ACCOUNT NO. 5020
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Adjusting
3
0
0
0
3
0
0
0
UTILITIES EXPENSE
ACCOUNT NO. 5030
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
√
PHONE EXPENSE
ACCOUNT NO. 5040
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
√
1
CONTINUING PROBLEM (CONTINUED)
SUPPLIES EXPENSE
ACCOUNT NO. 5050
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
Adjusting
2
3
INSURANCE EXPENSE
ACCOUNT NO. 5060
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
POSTAGE EXPENSE
ACCOUNT NO. 5070
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
DEPRECIATION EXPENSE, C.S. EQUIPMENT
ACCOUNT NO. 5080
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Adjusting
5
5
CONTINUING PROBLEM (CONTINUED)
DEPRECIATION EXPENSE, OFFICE EQUIPMENT
ACCOUNT NO. 5090
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Adjusting
2
2
MISCELLANEOUS EXPENSE
ACCOUNT NO. 5100
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Mar.
31
Balance
√
1
5
00
WAGE EXPENSE
ACCOUNT NO. 5110
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
2
4
PAYROLL TAX EXPENSE
ACCOUNT NO. 5120
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Balance
2
INTEREST EXPENSE
ACCOUNT NO. 5130
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
CONTINUING PROBLEM (CONTINUED)
BAD DEBT EXPENSE
ACCOUNT NO. 5140
Date
Explanation
Post
Ref.
Debit
Credit
Debit
Credit
Suarez Computer Center
Income Statement
For the Six Months Ending March 31, 201X
Revenue:
Service Revenue
$20
9
0
0
00
Sales Revenue
6
8
0
00
Less: Sales Returns
4
6
0
00
Less: Sales Discounts
2
4
3
00
$11
Net Sales Revenue
9
7
7
00
Expenses:
Phone Expense
1
5
5
00
Wage Expense
2
4
2
5
00
Rent Expense
3
0
0
0
00
Depreciation Expense, Computer Equipment
5
7
0
00
Depreciation Expense, Office Equipment
2
1
0
00
Postage Expense
4
0
00
5
7
5
71
12
CONTINUING PROBLEM (CONTINUED)
Suarez Computer Center
Statement of Owner’s Equity
For the Six Months Ending March 31, 201X
Falco, Capital, October 1, 201X
$16
6
1
7
00
3
0
1
29
1
5
11
3
8
29
Falco, Capital, March 31, 201X
0
0
3
29
Suarez Computer Center
Balance Sheet
March 31, 201X
Assets:
Current Assets:
Cash
$11
5
7
6
29
Petty Cash
3
0
0
00
Accounts Receivable
3
7
0
00
Merchandise Inventory
2
0
0
00
Prepaid Rent
5
0
0
00
Supplies
3
3
7
00
Total Current Assets
2
8
3
Plant and Equipment:
Computer Shop Equipment
$4
8
6
0
00
Less: Accumulated Depreciation
2
6
0
00
9
1
5
00
Total Plant and Equipment
1
0
0
00
3
8
3
29
Current Liabilities:
Accounts Payable
$3
3
8
0
00
Total Current Liabilities
3
8
0
00
Falco, Capital
28
0
0
3
29
3
8
3
29
MINI PRACTICE SET
Requirements 2
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 4
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
1
Cash
110
1
8
0
0
00
Accounts Receivable, Bach Co.
112/√
1
8
0
0
00
2
Merchandise Inventory
114
8
0
0
0
00
Accounts Payable, Thomas Co.
210/√
8
0
0
0
00
Purchased Merchandise
on Account
3
Accounts Receivable, Young Co.
112/√
8
0
0
0
00
Sales
410
8
0
0
0
00
Sold Merchandise on Account
3
Cost of Goods Sold
510
2
5
1
0
Merchandise Inventory
114
2
5
1
0
00
Cost of Merchandise Sold
6
Accounts Receivable, Young Co.
112/√
8
0
0
0
00
Sales
410
8
0
0
0
00
Sold Merchandise on Account
Cost of Goods Sold
510
2
2
4
0
Merchandise Inventory
114
2
2
4
0
00
Cost of Merchandise Sold
9
Merchandise Inventory
114
4
0
0
0
00
Accounts Payable, Thomas Co.
210/√
4
0
0
0
00
Purchased Merchandise
on Account
9
Accounts Receivable, Young Co.
112/√
6
0
0
0
00
Sales
410
6
0
0
0
00
Sold Merchandise on Account
9
Cost of Goods Sold
510
1
9
7
0
Merchandise Inventory
114
1
9
7
0
00
Cost of Merchandise Sold
9
Cleaning Expense
614
1
0
0
00
Cash
110
1
0
0
00
Paid Cleaning Service
Sales Returns and Allowances
412
2
0
0
00
Accounts Receivable, Young Co.
112/√
3
2
0
0
00
Merchandise Inventory
0
2
5
00
Cost of Goods sold
510
1
0
2
5
00
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 5
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
11
Merchandise Inventory
114
14
0
0
0
00
Accounts Payable, Johnsons Co.
210/√
14
0
0
0
00
Purchased Merchandise
on Account
Mar.
12
Cash
110
30
0
0
0
00
Sales
410
30
0
0
0
00
Sold Merchandise for Cash
12
Cost of Goods Sold
510
13
8
3
0
00
Merchandise Inventory
114
13
8
3
0
00
Cost of Merchandise Sold
12
Accounts Payable, Thomas Co.
210/√
8
0
0
0
00
Merchandise Inventory
114
8
0
00
Cash
110
7
9
2
0
00
13
Cash
110
5
0
0
0
00
Sales
410
5
0
0
0
00
Sold Merchandise for Cash
13
Cost of Goods Sold
510
2
9
0
0
00
Merchandise Inventory
114
2
9
0
0
00
Cost of Merchandise Sold
15
214
7
2
8
00
216
1
1
5
3
20
218
2
6
9
70
110
2
1
5
0
90
15
B. Duval, Withdrawals
320
2
5
0
00
Cash
110
2
5
0
00
Owner withdrawal
15
SIT Payable
220
6
5
1
00
Cash
110
6
5
1
00
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 6
Date
201X
Account Titles and Description
PR
Dr.
Cr.
16
Cash
110
4
6
5
6
00
414
1
4
4
00
Accounts Receivable, Young Co.
112/√
4
8
0
0
00
Rec’d Payment on Acct.,
16
Cash
110
8
0
0
0
00
Accounts Receivable, Young Co.
112/√
8
0
0
0
00
Rec’d Payment on Acct., no Discount
16
Accounts Receivable, Bach Co.
112/√
4
6
0
0
00
Sales
410
4
6
0
0
00
Sold Merchandise on Account
16
510
1
8
4
0
00
1
8
4
0
00
21
Delivery Truck
120
19
7
0
0
00
Accounts Payable, Manny’s Garage
210/√
19
7
0
0
00
Purchased Delivery Truck on Account
22
Accounts Receivable, Young Co.
112/√
5
0
0
0
00
Sales
410
5
0
0
0
00
Cost of Merchandise Sold
Accounts Payable, Johnsons Co.
0
0
0
Merchandise Inventory
114
3
9
0
00
Cash
110
12
6
1
0
00
Paid Invoice, less Discount
Accounts Receivable, Bach Co.
4
0
0
Sales
410
4
0
0
00
Sold Merchandise on Account
Cost of Goods Sold
510
7
2
0
Merchandise Inventory
114
7
2
0
00
Cost of Merchandise Sold
Merchandise Inventory
114
8
0
0
Cash
110
8
0
0
00
Purchased Merchandise for Cash
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 7
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
27
Merchandise Inventory
114
5
0
0
0
00
Accounts Payable, Danmark Co.
210/√
5
0
0
0
00
28
Cash
110
4
8
5
0
00
414
1
5
0
00
Accounts Receivable, Young Co.
112/√
5
0
0
0
00
28
Cash
110
4
6
0
0
00
Accounts Receivable, Bach Co.
112/√
4
6
0
0
00
Rec’d Payment on Acct., no Discount
29
Merchandise Inventory
114
13
0
0
0
00
Accounts Payable, Thomas Co.
210/√
13
0
0
0
00
30
Accounts Receivable, Danmark Co.
112/√
9
0
0
0
00
Sales
410
9
0
0
0
00
Sold Merchandise on Account
Cleaning Expense
1
Postage Expense
1
Miscellaneous Expense
1
Merchandise Inventory
1
Cash
4
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 8
Date
201X
Account Titles and Description
PR
Dr.
Cr.
Mar.
30
Office Salary Expense
611
3
8
6
0
00
Sales Salary Expense
610
9
1
1
0
00
FICA—OASDI Payable
216
8
0
4
14
FICA—Medicare Payable
218
1
8
8
07
FIT Payable
214
1
2
3
8
00
SIT Payable
220
9
0
7
90
Salaries Payable
212
9
8
3
1
89
30
Payroll Tax Expense
612
1
1
6
5
01
FICA—OASDI Payable
216
8
0
4
14
FICA—Medicare Payable
218
1
8
8
07
SUTA Tax Payable
222
1
5
3
60
FUTA Tax Payable
224
1
9
20
31
Salaries Payable
212
9
8
3
1
89
Cash
110
9
8
3
1
89
5
5
Dep. Expense, Truck
3
0
3
0
THE FANTASTIC DRESS SHOP
GENERAL JOURNAL
PAGE 9
Date
201X
Account Titles and Description
PR
Dr.
Cr.
31
Unearned Rent
226
2
5
0
00
416
2
5
0
00
Closing Entries
31
Sales
410
77
0
0
0
00
416
2
5
0
00
330
77
2
5
0
00
31
Income Summary
330
48
3
4
5
01
Sales Returns and Allowances
412
3
2
0
0
00
Sales Discount
414
2
9
4
00
Cost of Goods Sold
510
29
7
3
5
00
Sales Salary Expense
610
9
1
1
0
00
Office Salary Expense
611
3
8
6
0
00
Payroll Tax Expense
612
1
1
6
5
01
Cleaning Expense
614
1
1
0
00
Postage Expense
620
1
0
00
Miscellaneous Expense
624
1
1
00
Rent Expense
618
5
5
0
00
Dep. Expense, Truck
616
3
0
0
00
B. Duval, Capital
310
2
5
0
00
B. Duval, Withdrawals
320
2
5
0
00
Income Summary
330
28
9
0
4
99
MINI PRACTICE SET (CONTINUED)
AUXILIARY PETTY CASH RECORD
Misc. Expense
1
First Aid
Delivery
12–58
–
–
–
4
–
–
Emma Hyde