I am just really struggling with this assignment and need all of the help i can get to finish it on time without so many errors.
Chart of 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. Asset AccountsLiability AccountsEquity Accounts Acct #Acct #Acct # Cash101Notes Payable201Common Stock301 Baking Supplies102Accounts Payable202Dividends302 Prepaid Rent103Wages Payable203Cost of Goods Sold303 Prepaid Insurance104Interest Payable 204 Baking Equipment105 Office Supplies106 Accounts Receivable107 Accumulated Depreciation108 Merchandise Inventory109Revenue Accounts Acct # Bakery Sales401 Merchandise Sales402 Expense Accounts Acct # Baking Supplies Expense501 Rent Expense502 Insurance Expense503 Misc. Expense504 Business License Expense505 Advertising Expense506 Wages Expense507 Telephone Expense508 Interest Expense509 Depreciation Expense510 Office Supplies Expense511 Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipment Office Supplies Accounts Receivable Accumulated Depreciation Merchandise Inventory Notes Payable Accounts Payable Wages Payable Interest Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Office Supplies Expense Cost of Goods Sold October Journal Entries A Company General Journal Entries October, 20xx DateAccountsDebitCredit 1-OctCash$25,000 Common Stock$25,000 1-OctBaking Supplies$8,500 Accounts payable$8,500 3-OctCash$10,000 Notes Payable$10,000 7-OctRent Expense$1,500 Prepaid Rent$1,500 Cash$3,000 10-OctBusiness License Expense$375 Cash$375 11-OctMisc. Expense$250 Cash$250 13-OctCommon Stock$5,000 Baking Equipment$5,000 13-OctAdvertising Expense$200 Cash$200 14-OctOffice Supplies$300 Cash$300 30-OctTelephone Expense$75 Accounts Payable$75 31-OctPrepaid Insurance$1,200 Cash$1,200 31-OctWages Expense$120 Wages Payable$120 31-OctCash$10,000 Accounts Receivable$5,000 Bakery Sales$15,000 Total69,020.0069,020.00<== do="" the="" debits="" equal="" the="" credits?="" (they="" should)="" november="" journal="" entries="" a="" company="" general="" journal="" entries="" november,="" 20xx="" date="" accounts="" debit="" credit="" 5-nov="" wages="" payable="" $120="" cash="" $120="" 8-nov="" cash="" $3,800="" accounts="" receivable="" $3,800="" 10-nov="" accounts="" payable="" $75="" cash="" $75="" 15-nov="" baking="" supplies="" $5,000="" accounts="" payable="" $5,000="" 15-nov="" wages="" expense="" $480="" wages="" payable="" $480="" 15-nov="" rent="" expense="" $1,500="" cash="" $1,500="" 18-nov="" cash="" $1,000="" accounts="" receivable="" $1,000="" 20-nov="" accounts="" payable="" $8,500="" cash="" $8,500="" 20-nov="" wages="" payable="" $480="" cash="" $480="" 22-nov="" office="" supplies="" $300="" cash="" $300="" 30-nov="" telephone="" expense="" $75="" accounts="" payable="" $75="" 30-nov="" wages="" expense="" $420="" wages="" payable="" $420="" 30-nov="" cash="" $12,500="" accounts="" receivable="" $7,500="" bakery="" sales="" 20,000.00="" total="" 41,750.00="" 41,750.00=""><== do="" the="" debits="" equal="" the="" credits?="" (they="" should)="" december="" journal="" entries="" a="" company="" general="" journal="" entries="" december,="" 20xx="" date="" accounts="" debit="" credit="" 1-dec="" dividends="" $10,000="" cash="" $10,000="" 5-dec="" accounts="" payable="" $420="" cash="" $420="" 7-dec="" merchandise="" inventory="" $60="" be="" sure="" to="" review="" the="" inventory="" valuation="" tab="" (columns="" m-p)="" for="" all="" inventory="" related="" journal="" entries="" as="" they="" are="" given="" to="" you!="" cash="" $60="" 8-dec="" cash="" $4,000="" accounts="" receivable="" $4,000="" 10-dec="" accounts="" payable="" $75="" cash="" $75="" 11-dec="" baking="" supplies="" $7,000="" accounts="" payable="" $7,000="" 13-dec="" accounts="" payable="" $5,000="" cash="" $5,000="" 15-dec="" wages="" expense="" $456="" wages="" payable="" $456="" 15-dec="" rent="" expense="" $1,500="" cash="" $1,500="" 15-dec="" cash="" $68="" merchandise="" sales="" $68="" 15-dec="" cost="" of="" goods="" sold="" $48="" merchandise="" inventory="" $48="" 20-dec="" accounts="" payable="" $456="" cash="" $456="" 20-dec="" merchandise="" inventory="" $122="" cash="" $122="" 24-dec="" cash="" $153="" merchandise="" sales="" $153="" 24-dec="" cost="" of="" goods="" sold="" $109.60="" merchandise="" inventory="" $109.60="" 30-dec="" merchandise="" inventory="" $151.25="" cash="" $151.25="" 31-dec="" wages="" expense="" $480="" wages="" payable="" $480="" 31-dec="" cash="" $19,000="" accounts="" receivable="" $6,000="" bakery="" sales="" $25,000="" total="" 55,098.85="" 55,098.85=""><== do="" the="" debits="" equal="" the="" credits?="" (they="" should)="" inventory="" valuation="" fifo="" purchases="" sales="" ending="" inventory="" purchases="" date="" no.="" of="" items="" unit="" price="" total="" price="" no.="" of="" items="" unit="" price="" total="" price="" no.="" of="" items="" unit="" price="" total="" price="" date="" microsoft:="" below="" are="" the="" journal="" entries="" for="" each="" inventory="" related="" transaction!="" all="" you="" need="" to="" do="" is="" copy="" and="" paste="" it="" into="" the="" correct="" dates="" on="" the="" december="" journal="" tab!="" dr="" cr="" 12/7:="" 10="" boxes="" purchased="" at="" $6="" 7-dec="" 10="" $="" 6.00="" $="" 60.00="" 10="" $="" 6.00="" $="" 60.00="" 7-dec="" merchandise="" inventory="" (10="" x="" $6)="" 60.00="" 12/20:="" 20="" boxes="" purchased="" at="" $6.10="" cash="" 60.00="" 12/30:="" 25="" boxes="" purchased="" at="" $6.05="" 15-dec="" 8="" $="" 6.00="" $="" 48.00="" 2="" $="" 6.00="" $="" 12.00="" purchased="" inventory="" sales="" –="" selling="" price,="" $8.50="" a="" box="" 12/15:="" 8="" boxes="" 20-dec="" 20="" $="" 6.10="" $="" 122.00="" 2="" $="" 6.00="" $="" 12.00="" 15-dec="" cash="" (8="" x="" $8.50)="" 68.00="" 12/24:="" 18="" boxes="" 20="" $="" 6.10="" $="" 122.00="" merchandise="" sales="" revenue="" 68.00="" 22="" $="" 134.00="" record="" sale="" of="" inventory="" 24-dec="" 2="" $="" 6.00="" $="" 12.00="" 15-dec="" cost="" of="" goods="" sold="" (8="" x="" $6)="" 48.00="" 16="" $="" 6.10="" $="" 97.60="" 4="" $="" 6.10="" $="" 24.40="" merchandise="" inventory="" 48.00="" 18="" $="" 109.60="" recorded="" the="" cost="" of="" goods="" sold="" 30-dec="" 25="" $="" 6.05="" $="" 151.25="" 4="" $="" 6.10="" $="" 24.40="" 20-dec="" merchandise="" inventory="" (20="" x="" $6.10="" )="" 122.00="" 25="" $="" 6.05="" $="" 151.25="" cash="" 122.00="" 29="" $="" 175.65="" net="" inventory="" 55="" $="" 333.25="" 26="" $="" 157.60="" 29="" $="" 175.65="" 24-dec="" cash="" (18="" x="" 8.50)="" 153.00="" merchandise="" sales="" revenue="" 153.00="" record="" sale="" of="" inventory="" 24-dec="" cost="" of="" goods="" sold="" (2="" x="" $6)+(16="" x="" $6.10)="" 109.60="" merchandise="" inventory="" 109.60="" recorded="" the="" cost="" of="" goods="" sold="" 30-dec="" merchandise="" inventory="" (25="" x="" $6.05)="" 151.25="" cash="" 151.25="" t-accounts="" -="" autofill="" date="" cash="" date="" date="" notes="" payable="" date="" business="" license="" exp="" common="" stock="" 1-oct="" $="" 25,000.00="" $="" 10,000.00="" 3-oct="" 10-oct="" $="" 375.00="" $="" 25,000.00="" 1-oct="" 3-oct="" $="" 10,000.00="" $="" 5,000.00="" 13-oct="" $="" 3,000.00="" 7-oct="" $="" -="" 0="" $="" 10,000.00="" $="" 375.00="" $="" -="" 0="" $="" -="" 0="" $="" 30,000.00="" $="" 375.00="" 10-oct="" $="" 10,000.00="" $="" 375.00="" $="" 30,000.00="" $="" 250.00="" 11-oct="" $="" 200.00="" 13-oct="" $="" 300.00="" 14-oct="" $="" 1,200.00="" 31-oct="" 31-oct="" $="" 10,000.00="" $="" 120.00="" 5-nov="" 8-nov="" $="" 3,800.00="" $="" 75.00="" 10-nov="" 18-nov="" $="" 1,000.00="" $="" 1,500.00="" 15-nov="" $="" 8,500.00="" 20-nov="" accounts="" rec.="" $="" 480.00="" 20-nov="" 31-oct="" 5,000.00="" $="" 300.00="" 22-nov="" 3,800.00="" 8-nov="" 30-nov="" $="" 12,500.00="" 1,000.00="" 18-nov="" $="" 10,000.00="" 1-dec="" 30-nov="" 7,500.00="" $="" 420.00="" 5-dec="" 4,000.00="" 8-dec="" $="" 60.00="" 7-dec="" 31-dec="" 6,000.00="" 8-dec="" $="" 4,000.00="" $="" 75.00="" 10-dec="" $="" 18,500.00="" $="" 8,800.00="" $="" 5,000.00="" 13-dec="" $="" 9,700.00="" $="" 1,500.00="" 15-dec="" 15-dec="" $="" 68.00="" $="" 456.00="" 20-dec="" $="" 122.00="" 20-dec="" 24-dec="" $="" 153.00="" $="" 151.25="" 30-dec="" 31-dec="" $="" 19,000.00="" $="" 85,521.00="" $="" 34,084.25="" $="" 51,436.75="" misc.="" expense="" baking="" equipment="" advertising="" expense="" 11-oct="" $="" 250.00="" 13-oct="" $="" 5,000.00="" 13-oct="" $="" 200.00="" $="" 250.00="" $="" -="" 0="" $="" 5,000.00="" $="" -="" 0="" $="" 200.00="" $="" -="" 0="" $="" 250.00="" $="" 5,000.00="" $="" 200.00="" baking="" supplies="" office="" supplies="" rent="" expense="" 1-oct="" $="" 8,500.00="" 14-oct="" $="" 300.00="" 7-oct="" $="" 1,500.00="" 15-nov="" $="" 5,000.00="" 22-nov="" $="" 300.00="" 15-nov="" $="" 1,500.00="" 11-dec="" $="" 7,000.00="" 15-dec="" $="" 1,500.00="" $="" 20,500.00="" $="" -="" 0="" $="" 600.00="" $="" -="" 0="" $="" 4,500.00="" $="" -="" 0="" $="" 20,500.00="" $="" 600.00="" $="" 4,500.00="" prepaid="" rent="" prepaid="" insurance="" bakery="" sales="" 7-oct="" $="" 1,500.00="" 31-oct="" $="" 1,200.00="" $="" 15,000.00="" 31-oct="" $="" 20,000.00="" 30-nov="" $="" 25,000.00="" 31-dec="" $="" 1,500.00="" $="" -="" 0="" $="" 1,200.00="" $="" -="" 0="" $="" -="" 0="" $="" 60,000.00="" $="" 1,500.00="" $="" 1,200.00="" $="" 60,000.00="" accounts="" payable="" salary="" and="" wages="" expense="" salaries="" and="" wages="" payable="" $="" 8,500.00="" 1-oct="" 31-oct="" $="" 120.00="" $="" 120.00="" 31-oct="" $="" 75.00="" 31-oct="" 15-nov="" $="" 480.00="" 5-nov="" $="" 120.00="" 10-nov="" $="" 75.00="" 30-nov="" $="" 420.00="" $="" 480.00="" 15-nov="" $="" 5,000.00="" 15-nov="" 15-dec="" $="" 456.00="" 20-nov="" $="" 480.00="" 20-nov="" $="" 8,500.00="" 31-dec="" $="" 480.00="" $="" 420.00="" 30-nov="" $="" 75.00="" 30-nov="" 5-dec="" $="" 420.00="" 10-dec="" $="" 75.00="" $="" 1,956.00="" $="" -="" 0="" $="" 456.00="" 15-dec="" $="" 7,000.00="" 11-dec="" $="" 1,956.00="" 20-dec="" $="" 456.00="" 13-dec="" $="" 5,000.00="" $="" 480.00="" 31-dec="" $="" 13,650.00="" $="" 20,650.00="" $="" 7,000.00="" $="" 1,476.00="" $="" 1,956.00="" $="" 480.00="" telephone="" expense="" dividends="" cogs="" 30-oct="" $="" 75.00="" 1-dec="" $="" 10,000.00="" 15-dec="" $="" 48.00="" 30-nov="" $="" 75.00="" $="" 10,000.00="" $="" -="" 0="" 24-dec="" $="" 109.60="" $="" 150.00="" $="" -="" 0="" $="" 10,000.00="" $="" 157.60="" $="" -="" 0="" $="" 150.00="" $="" 157.60="" merchandise="" sales="" revenue="" merch.="" inv.="" fifo="" $="" 68.00="" 15-dec="" 7-dec="" $="" 60.00="" $="" 153.00="" 24-dec="" $="" 48.00="" 15-dec="" 20-dec="" $="" 122.00="" $="" -="" 0="" $="" 221.00="" $="" 109.60="" 24-dec="" $="" 221.00="" 30-dec="" $="" 151.25="" $="" 333.25="" $="" 157.60="" $="" 175.65="" adjusting="" entries="" a="" company="" adjusting="" journal="" entries="" 20xx="" date="" accounts="" debit="" credit="" 31-dec="" depreciation="" expense="" $1,000="" accumulated="" depreciation="" $1,000="" 31-dec="" interest="" expense="" $600=""><== interest="" adjustment="" goes="" here="" interest="" payable="" $600=""><== interest="" adjustment="" goes="" here="" 31-dec="" insurance="" expense="" $1,200=""><== insurance="" adjustment="" goes="" here="" prepaid="" insurance="" $1,200=""><== insurance="" adjustment="" goes="" here="" 31-dec="" cost="" of="" goods="" sold="" $19,400=""><== baking="" supplies="" adjustment="" goes="" here="" baking="" supplies="" $19,400=""><== baking="" supplies="" adjustment="" goes="" here="" 31-dec="" office="" supplies="" expense="" $250=""><== office="" supplies="" adjustment="" goes="" here="" office="" supplies="" $250=""><== office="" supplies="" adjustment="" goes="" here="" 22,450.00="" 22,450.00=""><== do="" the="" debits="" equal="" the="" credits?="" (they="" should)="" trial="" balance="" a="" company="" trial="" balance="" 20xx="" unadjusted="" trial="" balance="" adjusting="" entries="" adjusted="" trial="" balance="" account="" debit="" credit="" debit="" credit="" debit="" credit="" cash="" 51,436.75="" baking="" supplies="" $7,000="" 19,400.00="" 26,400.00="" merchandise="" inventory="" prepaid="" rent="" $1,500="" prepaid="" insurance="" $1,200="" 1,200.00="" baking="" equipment="" $5,000="" accumulated="" depreciation="" 1,000.00="" 1,000.00="" office="" supplies="" $600="" 250.00="" 350.00="" accounts="" receivable="" $9,700="" notes="" payable="" $10,000="" interest="" payable="" 600.00="" 600.00="" accounts="" payable="" $7,000="" wages="" payable="" $480="" common="" stock="" $30,000="" dividends="" $10,000="" bakery="" sales="" $60,000="" merchandise="" sales="" $221="" baking="" supplies="" expense="" 20,500.00="" 19,400.00="" 1,100.00="" rent="" expense="" 1,500.00="" interest="" expense="" 600.00="" 600.00="" insurance="" expense="" 1,200.00="" 1,200.00="" depreciation="" expense="" 1,000.00="" 1,000.00="" misc.="" expense="" office="" supplies="" expense="" 300.00="" 250.00="" 50.00="" business="" license="" expense="" 375.00="" advertising="" expense="" 200.00="" wages="" expense="" 1,956.00="" telephone="" expense="" 150.00="" cogs="" 157.60="" retained="" earnings="" total:="" 77,775.35="" 142,701.00="" 22,450.00="" 22,450.00="" 2,750.00="" 28,350.00="" do="" these="" two="" columns="" tie="" to="" the="" debits="" and="" credits="" on="" the="" adjusting="" entries="" tab?="" debits="" should="" equal="" credits="" debits="" should="" equal="" credits="" debits="" should="" equal="" credits="" `="" income="" statement="" a="" company="" income="" statement="" for="" qtr.="" ending="" 12/31/20xx="" revenues="" total="" revenues="" -="" 0=""><== don't forget the cogs! gross profit- 0 operating expenses: baking supplies expense1,100.00 total operating expenses:1,100.00 net income(1,100.00) statement of stockholder equity a company statement of stockholder's equity for qtr. ending 12/31/20xx common stockretained earningstotal beginning balances, september 30000 issued common stock net income dividendsmake sure your dividends are negative so the formula subtracts them ending balances, december 31:- 0- 0- 0 balance sheet a company balance sheet as of december 31, 20xx assetsliabilities and owners' equity current assets:current liabilities: total current liabilities- 0 long term liabilities: total current assets- 0total long term liabilities:- don't="" forget="" the="" cogs!="" gross="" profit="" -="" 0="" operating="" expenses:="" baking="" supplies="" expense="" 1,100.00="" total="" operating="" expenses:="" 1,100.00="" net="" income="" (1,100.00)="" statement="" of="" stockholder="" equity="" a="" company="" statement="" of="" stockholder's="" equity="" for="" qtr.="" ending="" 12/31/20xx="" common="" stock="" retained="" earnings="" total="" beginning="" balances,="" september="" 30="" 0="" 0="" 0="" issued="" common="" stock="" net="" income="" dividends="" make="" sure="" your="" dividends="" are="" negative="" so="" the="" formula="" subtracts="" them="" ending="" balances,="" december="" 31:="" -="" 0="" -="" 0="" -="" 0="" balance="" sheet="" a="" company="" balance="" sheet="" as="" of="" december="" 31,="" 20xx="" assets="" liabilities="" and="" owners'="" equity="" current="" assets:="" current="" liabilities:="" total="" current="" liabilities="" -="" 0="" long="" term="" liabilities:="" total="" current="" assets="" -="" 0="" total="" long="" term="" liabilities:="">