Final Project Comprehensive Problem

Final Project Comprehensive Problem - Student Name: Cathy...

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Student Name: Cathy Bandelow Class: ACC 225 Problem 07C COLO COMPANY Sales Journal AR Debit COGS Inv. Trans. Sales Debit Date ccount Debite No. No. Credit Inv. Credit May 2 Hensel Comp 8785 83 6,100 4,100 16 Hensel Comp 8786 84 3,990 1,890 22 Lee Services 8787 85 6,850 4,990 26 Crane Corp. 8788 86 14,210 8,230 31 Totals 31,150 19,210 ^ Correct! ^Correct! COLO COMPANY Purchases Journal Accounts Office Other Inv. Trans. Payable Inventory Supplies Accounts Date Account Date Terms No. Credit Debit Debit Debit May 4 Store Supp./Ge 5/4 n/10, EOM 78 37,729 37,072 83 574 10 Off. Equip./Gea 5/10 n/10, EOM 79 4,074 4,074 11 Garcia, Inc. 5/10 n/30, n/30 80 880 8,800 17 Fink Corp. 5/14 2/10, n/60 81 13,650 13,650 24 Store Supp./Ge 5/24 n/10, EOM 82 9,030 8,120 280 630 25 Peyton Produc 5/23 2/10, n/30 83 3,080 3,080 31 Totals 76,363 70,722 363 5,278 ^ Correct! ^ Correct! ^ Correct! ^ Correct! COLO COMPANY Cash Receipts Journal Sales Accts. Other Trans. Cash Discount Recv. Sales Accts. Date Account Cr. Explanation No. Debit Debit Credit Credit Credit
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May 5 Knox, Inc. Sale of April 28 81 4,459 91 4,550 9 Store SuppliesSold store sup 82 350 350 11 Hensel CompaSale of May 2 83 5,978 122 6,100 15 Sales Cash sales, 84 59,220 59,220 May 1-15 30 Lee Services Sale of May 22 85 6,713 137 6,850 31 Sales Cash Sales, 86 66,052 66,052 May 16-31 31 Totals 142,772 350 17,500 125,272 350 ^ Correct! ^ Correct! ^ Correct! ^ Correct! ^ Correct! COLO COMPANY Cash Disbursements Journal Other Accts. Check Account Trans. Cash Inventory Accts. Pay. Date No. Payee Debited No. Credit Credit Debit Debit May 1 3410 76 2,968 2,968 Rent Exp., Office 742 742 8 3411 Peyton ProducPeyton Produc 77 6,174 126 6,300 15 3412 Payroll Sales Salaries 78 5,320 5,320 Office Salaries Exp. 3,150 3,150 19 3413 Garcia, Inc. Garcia, Inc. 79 8,624 176 8,800 23 3414 Fink Corp. Fink Corp. 80 13,377 273 13,650 26 3415 Perennial PowUtilities Exp. 81 1,283 1,283 29 3416 Jenny Colo J. Colo, Withdr 82 7,000 7,000 30 3417 Payroll Sales Salaries 83 5,320 5,320 Office Salaries Exp. 3,150 3,150 Totals 57,108 575 28,933 28,750 ^ Correct! ^ Correct! ^ Correct! ^ Correct! COLO COMPANY General Journal Trans. Date Description No. Debit Credit May 2 Sales Returns and Allowance 65 175 Accounts Receivable-Knox, Inc. 175 «- Correct! 3 Accounts Payable-Peyton Pro 66 798 Inventory 798 «- Correct! 12 Accounts Payable-Gear Supp 67 854 Office Equipment 854 «- Correct! Adjusting entries May 31 Insurance Expense 68 553
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Prepaid Insurance 553 «- Correct! 31 Store Supplies Expense 69 669 Store Supplies 669 «- Correct! 31 Office Supplies Expense 70 289 Office Supplies 289 «- Correct! 31 Depreciation Expense, Store 71 567 Accumulated Depr., Store Equip. 567 «- Correct! 31 Depreciation Expense, Office
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Final Project Comprehensive Problem - Student Name: Cathy...

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