Practice Set - Bright Landscapes Practice Set Workpapers...

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Bright Landscapes Practice Set Workpapers Sheet 1 Candace Graves General Journal Date: Account Name: Acct. # Debit Credit 2-Jul Cash 101 52000 Common Stock 301 52000 2-Jul Prepaid Rent 131 3600 Cash 101 3600 2-Jul Inventory 120 19500 Accounts Payable 210 19500 5-Jul Notes Payable 245 9300 Cash 101 9300 5-Jul Office Supplies 135 1250 Cash 101 1250 10-Jul Cash 101 16000 Sales Revenue 401 16000 10-Jul Advertising Expense 506 300 Cash 101 300 15-Jul Accounts Receivable 110 16000 Sales Revenue 401 16000 20-Jul Cash 101 1568 Sales Discount 403 32 Accounts Receivable 110 1600 22-Jul Accounts Payable 210 19500 Cash 101 19500 28-Jul Cash 101 8467 Accounts Receivable 110 8467 31-Jul Cash 101 4000 Sales Revenue 401 4000 General Journal for Adjusting Entries: Date: Account Name: Acct. # Debit Credit 31-Jul Interest Expense 522 1069.8 Notes Payable 245 1069.8 31-Jul Rent Expense 517 300 Prepaid Rent 131 300 31-Jul Insurance Expense 516 388.3 Prepaid Insurance 130 388.3 31-Jul Office Supplies Expense 518 795 Office Supplies 135 795 31-Jul Allowance for Bad Debts 111 9000 Accounts Receivable 110 9000 31-Jul Cost of Goods Sold 501 49410 Inventory 120 49410 31-Jul Depreciation Expense 511 1,027 Accumulated Depreciaton 170 1,027
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General Ledger Accounts: Sheet 2 Cash Acct. # 101 Balance Date: Explanation Debit Credit Debit Credit 30-Jun Balance 16,320 2-Jul 52000 68,320 2-Jul 3600 64,720 5-Jul 9300 55,420 5-Jul 1250 54,170 10-Jul 16000 70,170 10-Jul 300 69,870 20-Jul 1568 71,438 22-Jul 19500 51,938 28-Jul 8467 60,405 31-Jul 4000 64,405 Accounts Receivable Acct. # 110 Balance Date: Explanation Debit Credit Debit Credit 30-Jun Balance 64,917 15-Jul 16000 80,917 20-Jul 1600 79,317 28-Jul 8467 70,850 31-Jul 9000 61,850 Allowance for Bad Debts Acct. # 111 Balance Date: Explanation Debit Credit Debit Credit 30-Jun Balance 6,148
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