Answer To: 1 ACC 201 Final Project II Guidelines and Rubric Overview One of the measures of success for any...
Neenisha answered on Apr 18 2021
Chart of Accounts
Print this page to use for your journal entries. Only accounts on this page can be used.
Asset Accounts Liability Accounts Equity Accounts
Acct # Acct # Acct #
Cash 101 Notes Payable 201 Common Stock 301
Baking Supplies 102 Accounts Payable 202 Dividends 302
Prepaid Rent 103 Wages Payable 203
Prepaid Insurance 104 Interest Payable 204
Baking Equipment 105
Office Supplies 106
Accounts Receivable 107
Accumulated Depreciation 108
Merchandise Inventory 109 Revenue Accounts
This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Acct #
Bakery Sales 401
Merchandise Sales 402
Expense Accounts
Acct #
Baking Supplies Expense 501
Rent Expense 502
Insurance Expense 503
Misc. Expense 504
Business License Expense 505
Advertising Expense 506
Wages Expense 507
Telephone Expense 508
Interest Expense 509
Depreciation Expense 510
Office Supplies Expense 511
Cost of Goods Sold 512
July Journal Entries
Peyton Approved
General Journal Entries Put entries in shaded cells
Jul-18
Date Accounts Debit Credit
1-Jul Cash 10,000.00
Common Stock 10,000.00
1-Jul Baking Supplies 6,500.00
Accounts Payable 6,500.00
3-Jul Cash 10,000.00
Notes Payable 10,000.00
7-Jul Prepaid Rent 1,500.00
Rent Expense 1,500.00
Cash 3,000.00
10-Jul Business License Expense 375.00
Cash 375.00
11-Jul Misc Expense 250.00
Cash 250.00
13-Jul Baking Equipment 6,000.00
Common Stock-Baking equipment 6,000.00
13-Jul Advertising Expense 200.00
Cash 200.00
14-Jul Office Supplies 300.00
Cash 300.00
30-Jul Phone Bill 75.00
Accounts Payable 75.00
31-Jul Insurance Expense 2,400.00
Cash 2,400.00
31-Jul Wages Expense $120
Wages Payable 120.00
31-Jul Accounts Receivables 5,000.00
Cash 10,000.00
u Bakerie Sales 15,000.00
Total 54,220.00 54,220.00
August Journal Entries
Peyton Approved
General Journal Entries Put entries in shaded cells
Aug-18
Date Accounts Debit Credit
5-Aug Wage Payable 120.00
Cash 120.00
8-Aug Cash 3,800.00
Accounts Receivable 3,800.00
10-Aug Telephone Expense 75.00
Cash 75.00
15-Aug Bakeries Supplies 5,000.00
Accounts Payable 5,000.00
15-Aug Rent Expense 1,500.00
Cash 1,500.00
15-Aug Wages Expense 480.00
Wages Payable 480.00
18-Aug Cash 3,000.00
Accounts Receivable 3,000.00
20-Aug Accounts Payable 8,500.00
Cash 8,500.00
20-Aug Wage Payable 480.00
Cash 480.00
22-Aug Office Supplies 300.00
Cash 300.00
31-Aug Misc Expense - Telephone 75.00
Accounts Payable 75.00
31-Aug Wage Expenses 900.00
Wages Payable 900.00
31-Aug Accounts Receivables 7,500.00
Cash 12,500.00
Sales 20,000.00
Total 44,230.00 $ 44,230.00
September Journal Entries
Peyton Approved
General Journal Entries Put entries in shaded cells
Sep-18
Date Accounts Debit Credit
1-Sep Self Dividends 10,000.00
Cash 10,000.00
5-Sep Wages Payable 120.00
cash 120.00
7-Sep Merchandise Inventory (10 x $6) 60.00
Cash 60.00
8-Sep Cash 4,000.00
Account Receivable 4,000.00
10-Sep Phone Exspenses 75.00
Cash 75.00
11-Sep Baking Supplies 7,000.00
Accounts Payable 7,000.00
13-Sep Accounts Payable 5,000.00
Cash 5,000.00
15-Sep Wage Expenses 456.00
wages Payable 456.00
15-Sep Rent Expense 1,500.00
Cash 1,500.00
15-Sep Cash 12.00
Merchandise sales 12.00
15-Sep COG 122.00
Merchandise Inventory 122.00
20-Sep Wages Payable 456.00
Cash 456.00
20-Sep Purchased Inventory 60.00
Cash 60.00
24-Sep Cash 153.00
Sales of Merchandise 153.00
24-Sep Cost of Goods 109.60
Merchandise 109.60
30-Sep Wage Expenses 480.00
Wages Payable 480.00
30-Sep Merchandise Inventory (25 x $6.05) 151.25
Cash 151.25
30-Sep Cash 14,000.00
Accounts Receivables 6,000.00
Bakeries Sales 20,000.00
Total 49,754.85 49,754.85
T-Accounts
date Cash date Notes Payable Business License exp Common Stock
1-Jul 10,000.00 10,000 3-Jul 10-Jul 375.00 10,000 1-Jul
3-Jul 10,000.00 6,000 13-Jul
3,000.00 7-Jul - 0 10,000.00 375.00 - 0 - 0 16,000.00
375.00 10-Jul 10000 Balance Balance 375.00 16,000.00 Balance
250.00 11-Jul
200.00 13-Jul
300.00 14-Jul
2,400.00 31-Jul
31-Jul 10,000.00
120.00 5-Aug
8-Aug 3,800.00
75.00 10-Aug
18-Aug 3,000.00
1,500.00 15-Aug
8,500.00 20-Aug Accounts Rec. Insurance...