ACC 201 Accounting Cycle Workbook A.M.-Step1-2-3-5-6-7-8-9-10-11.xlsx

ACC 201 Accounting Cycle Workbook A.M.-Step1-2-3-5-6-7-8-9-10-11.xlsx

Info icon This preview shows pages 1–18. Sign up to view the full content.

View Full Document Right Arrow Icon
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Asset Accounts Acct # Cash 101 Baking Supplies 102 Prepaid Rent 103 Prepaid Insurance 104 Baking Equipment 105 Misc. Supplies 106 Accounts Receivable 107 Accumulated Depreciation 108 Merchandise Inventory 109 This chart of accounts should help you identify the appropria journaling transactions for this workbook. There is nothing to for you.
Image of page 4
Liability Accounts Equity Accounts Acct # Notes Payable 201 Common Stock Accounts Payable 202 Dividends Wages Payable 203 Interest Payable 204 Revenue Accounts Bakery Sales Merchandise Sales Expense Accounts Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Misc. Supplies Expense Cost of Goods Sold ate accounts to record to as you are analyzing and o complete on this page; this is simply a resource
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Acct # 301 302 Acct # 401 402 Acct # 501 502 503 504 505 506 507 508 509 510 511 512
Image of page 6
Peyton Approved General Journal Entries Jul-14 Date Accounts Debit Credit 1-Jul Cash 15,000.00 Common Stock 15,000.00 contributed cash for common stock 1-Jul Baking Supplies 8,500.00 account Payable 8,500.00 purchased baking goods on account 3-Jul Cash 10,000.00 Note Payable 10,000.00 To record 6% noted payable issued 7-Jul Prepaid Expenses (prevoius month) 1,500.00 to prepay rent 1,500.00 cash 3,000.00 10-Jul Business License 375.00 cash 375.00 purchase of business license 11-Jul Misc Expense 250.00 cash 250.00 to record purchase of cash register 13-Jul Baking equipment 5,000.00 common stock 5,000.00 transfer of baking equipment to business 13-Jul Advertising Expense 200.00 Cash 200.00 14-Jul misc Supplies 300.00 cash 300.00 to record purchase of misc supplies 15-Jul no entry part time
Image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
30-Jul Telephone expense 45,00 account payable 45,00 to record telephone bill due in August 31-Jul Prepaid Insurance 1,200.00 cash 1,200.00 to record prepaid insurance 31-Jul Salary Expense 120,00 salary payable 120,00 to record salary paid 31-Jul Cash 10,000.00 Bakery Sales 10,000.00 Accounts Receivables 5,000.00 Bakery Sales 5,000.00 Note 1 (1) transaction #10 for the asset account that should be debited for $1,500; and (2) transaction #6 for the account that should be debited for the other $1,500. Half of $3,000 is for the "last month's rent," which refers to June 2015. The other half of $3,000 is for "this month's rent," which refers to July 2014. Therefore, you need two (2) debit entries here. Please refer to:
Image of page 8
Image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Note 1 Missing payment of $200 on July 31
Image of page 10
Bakery Sales
Image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 12
Image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 14
Image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Peyton Approved General Journal Entries Aug-14 Date Accounts Debit 5-Aug Wages Payable 120.00 cash 8-Aug Cash 3,200.00 account receivable 10-Aug Account payable 45.00 cash to pay telephone bill 15-Aug Baking Supplies 5,000.00 account payable 15-Aug salary expense 480.00 salary payable 15-Aug Rent Expense 1,500.00 cash 18-Aug Cash 1,000.00 account receivable 20-Aug Account payable 8,500.00 cash to record purchase baking supplies 20-Aug Wages Payable 480.00 cash 22-Aug misc supplies 300.00 cash 31-Aug telephone expense 45.00 account payable 31-Aug salary expense 420.00 salary payable
Image of page 16
31-Aug Cash 12,500.00 Bakery Sales Accounts Receivables 7,500.00 Bakery Sales
Image of page 17

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 18
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern