System Understanding Aid 9th Solution Manual Pdf

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Systems Understanding Aid Project 10th edition

Excel prjoject. Reference Book, Ledgers Book, Journals Book, Instructions & Flowchart.

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SUA 1 - Transaction Table -Transaction List A_Alt 1(84 points) IMPORTANT: Do not use the Transaction List A and Price List in your hard copy SUA packet. Use the "Transaction List A and Price List_Alt 1" posted on Canvas. The table below lists what you need to do for each transaction. Please assume the employee role of Waren Sports and fill in each missing cell with appropriate actions. If no action is needed for that transaction, type in "NA" in the corresponding cell. For each transaction, I have completed some tasks. You only need to fill in the blank cells. Note that for Transaction #1, 8, and 20, I have filled in all cells. However you still need to record these transactions in your workbook if applicable. Instructions: 1. Source Documents – Fill in documents you need to prepare for this transaction. Clearly write out Document #, and name, and the specific number of that particular document because some documents have multiple copies. 2. Journals - Fill in the name of special journals you use to record this transaction. - Specify what accounts to debit and credit and the dollar amount. - When the transaction needs to be recorded under "Other G/L", write out the account number based on Chart of Accounts. You do not need to put the customer account number or vendor account number in the table. But you need to specify the customers or vendors' names. - Record the transaction in corresponding journals in the workbook. 3. Ledgers - Fill in the name of the subsidiary ledger to record the transaction. - Also specify the names of customer or vendor - Show debits or credits and the dollar amount - Record the transaction in the subsidiary ledgers in the workbook 4. JE - Write out the complete journal entries for this transaction. - Nothing to do in workbook regarding this column Tran# Source Documents 1 -Doc #5: Bill of lading 6890BR -#6: Sale invoice # 731 2 #9 cash receipts prelist 3 4 #16 purchase order No.328 #16 Purchase order No.327 #17 Receiving report No. 73 #18 Invoice No.2378 5 #9 cash receipts prelist 6 7 #12 return request (sign) #20 Check No. 1152 8 NA Journals (Fill in here and workbook) Sales Journal: 12/16 Rosemount U: Dr. AR G/L $16,170 Cr: sales $16,170 Ledgers (Fill in here and in the workbook) AR subsidiary ledge: (Rosemont) Dr. $16,170 JE Cash Receipt Journal: 12/16 Branch College: Dr. Cash G/L $1622.88 Sales discount G/L $33.12 Cr. A/R G/L $1656.00 N/A Purchase journal: 12/19 Chicago office supplies Dr. Purchase G/L $830.25 Cr. A/P G/L $830.25 Cash receipts journal: 12/19 First American bank Dr. Cash $90,000 Cr. Other G/L $90,000 N/A Cash disbursement journal: 12/19 First American journal Dr. Other operating expense 1710. Cr. Cash 1710 NA AR subsidiary ledger (Branch College) Cr. $1622.88 DR. cash $1622.88 Sales discount $33.12 Cr. A/R $1656.00 N/A Ap subsidiary (Chicago office): cr 830.25 N/A Dr. Purchase $830.25 Cr. A/P NA Dr. Cash $90,000 Cr. Notes Payable $90,000 NA NA N/A Dr. Other operating spends 1710 Cr. Cash 1710 Update the pay rate for each employee (in the "Pay Rate History" tab in your workbook. In your hard copy SUA packet, NA Dr. AR_Rosemount $16,170 CR. Sale $16,170 $830.25 9 10 11 12 13 14 15 16 NA SJ 12/21: Rosemount U, cr $3325 Dr. AR GL $3325 19 NA Dr. AR_Rosemount $3325 CR. Sale $3325 Use FC p22 (Accounting): -#18 Vendor invoice from Velocity (adjust the differences in quantities and prices, JA initial the adjusted vendor invoice) NA AR_sub ledger: Eastern Wisconxin U, cr. $4550 -#8 Restrictively endorse the check Doc#8 -# 9 Cash receipt prelist (Look for the original sales amt in SJ) Cash receipts Journal: dr. $12,000 cr. AR_EWU GL $12000 NA FC p23: -#20 Check#1153, sign, write "paid" on vendor invoice 17 18 the pay rate history is on the page of Employee Earnings Sub ledger. NA NA FC p23 -#21 ACH payment auth. write "paid" on vendor invoice FCp22 receiving: -#17 receiving report No.76, note No quantity differences between Dr. Freight-in G/L 30800 $738.15 Cr. Cash $738.15 Dr. Fixed assets (10800) $1256.10 Cr. AP_Chicago Office: $1256.10 receiving report and vendor invoice 201 1 FC P21: #22 RK approves and initial the time record report - #20 Checks# 1155-1157 Payroll Journal: - Fill in the three section of gross pay, deductions, payment for each employee Employee sub ledger, one for each person Dr. wages and salaries expense 7663.20 Cr. FICA 586.24 Cr. Fed income taxes w/h 610.00 Cr. State income taxes w/h 346.48 Cr. Cash (net pay) 6120.48 Need to use the information in p.8 of Instr. & FC book to get the SS tax rate of 6.2% and medicare 1.45%. Total of SS tax + Medicare is FICA. Systems Understanding Aid - 10th Edition* Hybrid Approach Workbook * Enter your name Frank Kaka, Rita Salam Table of Contents Reference Chart of Accounts Ledgers General Ledger Accounts Payable Subsidiary Ledger Accounts Receivable Subsidiary Ledger Employee Earnings Subsidiary Ledger Fixed Assets Subsidiary Ledger Journals General Journal Sales Journal Cash Receipts Journal Purchases Journal Cash Disbursements Journal Payroll Journal Pay Rate History Other Required Documents Bank Reconciliation Year End Worksheet Post Closing TB Cash Flow Worksheet Financial Statements Balance Sheet Income Statement Statement of Cash Flows Other Reports AR Aging Report Doc No 2 Ledgers pg. 3-15 Ledgers pg. 18 Ledgers pg. 16-17 Ledgers pg. 19-21 Ledgers pg. 22-23 Jrnls pg. 3-5 Jrnls pg. 7 Jrnls pg. 9 Jrnls pg. 11 Jrnls pg. 12-13 Jrnls pg. 15 Ledgers pg. 19 See Ref book Doc 26 Doc 27 See Ref book See Ref book See Ref book See Ref book Systems Understand Aid by Alvin A. Arens and D. Dewey Ward © 2020, by Armond Dalton Publishers, Inc. Mode TARP Frank Kaka, Rita Salam Chart of Accounts Account Number 10100 10200 10210 10300 10400 10500 10600 10700 10800 10900 11000 20100 20200 20300 20400 20500 20600 20700 20800 20900 21000 21100 21200 26000 27000 28000 29000 29010 30100 30200 30300 30400 30500 30600 30700 30800 30900 31000 31100 31200 40100 Account Cash Accounts receivable Accounts receivable from employees Allowance for doubtful accounts Inventory Prepaid expense Marketable securities Interest receivable Fixed assets Accumulated depreciation Notes receivable Accounts payable Wages and salaries payable Federal income taxes withheld State income taxes withheld State unemployment taxes payable Federal unemployment taxes payable F.I.C.A. taxes payable Federal income taxes payable Dividends payable Interest payable Notes payable Unearned revenue Common stock Paid in capital Income summary Retained earnings Dividends declared Sales Sales returns and allowances Sales discounts taken Cost of goods sold Purchases Purchases returns and allowances Purchases discounts taken Freight-in Gain/loss on sale of fixed assets Gain/loss on sale of marketable securities Interest/dividends income Miscellaneous revenue Rent expense Page 3 of 31 Category Assets Assets Assets Assets Assets Assets Assets Assets Assets Assets Assets Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Liabilities Equity Equity Equity Equity Equity Gross Profit Gross Profit Gross Profit Gross Profit Gross Profit Gross Profit Gross Profit Gross Profit Other Revenue Other Revenue Other Revenue Other Revenue Operating Expenses Frank Kaka, Rita Salam Chart of Accounts Account Number 40200 40300 40400 40500 40600 40700 40800 40900 41000 Account Advertising expense Office supplies expense Depreciation expense Wages and salaries expense Payroll tax expense federal income tax expense Interest expense Bad debt expense Other operating expense Category Operating Expenses Operating Expenses Operating Expenses Operating Expenses Operating Expenses Operating Expenses Operating Expenses Operating Expenses Operating Expenses Page 4 of 31 Frank Kaka, Rita Salam General Ledger In Balance Expand before printing General Ledger Collapse before printing Trial Balance 2,412,758.30 2,412,758.30 - 10100 CASH 69,753.20 10200 ACCOUNTS RECEIVABLE 24,005.00 10210 ACCOUNTS RECEIVABLE FROM EMPLOYEES - 10300 ALLOWANCE FOR DOUBTFUL ACCOUNTS (1,750.81) 10400 INVENTORY 101,681.00 10500 PREPAID EXPENSE - 10600 MARKETABLE SECURITIES 24,000.00 10700 INTEREST RECEIVABLE - 10800 FIXED ASSETS 320,665.00 10900 ACCUMULATED DEPRECIATION (81,559.50) 11000 NOTES RECEIVABLE - 20100 ACCOUNTS PAYABLE (3,650.00) 20200 WAGES AND SALARIES PAYABLE - 20300 FEDERAL INCOME TAXES WITHHELD (1,037.00) 20400 STATE INCOME TAXES WITHHELD (590.86) 20500 STATE UNEMPLOYMENT TAXES PAYABLE (60.96) 20600 FEDERAL UNEMPLOYMENT TAXES PAYABLE (10.30) 20700 F.I.C.A. TAXES PAYABLE (2,029.32) 20800 FEDERAL INCOME TAXES PAYABLE - 20900 DIVIDENDS PAYABLE - 21000 INTEREST PAYABLE - 21100 NOTES PAYABLE - 21200 UNEARNED REVENUE - 26000 COMMON STOCK (225,000.00) 27000 PAID IN CAPITAL - 28000 INCOME SUMMARY - 29000 RETAINED EARNINGS (90,264.99) 29010 DIVIDENDS DECLARED - 30100 SALES (1,518,230.00) 30200 SALES RETURNS AND ALLOWANCES 57,631.00 30300 SALES DISCOUNTS TAKEN 15,144.18 30400 COST OF GOODS SOLD - 30500 PURCHASES 1,078,500.00 30600 PURCHASES RETURNS AND ALLOWANCES (19,445.00) 30700 PURCHASES DISCOUNTS TAKEN (15,561.30) 30800 FREIGHT-IN 23,380.94 30900 GAIN/LOSS ON SALE OF FIXED ASSETS - 31000 GAIN/LOSS ON SALE OF MARKETABLE SECURITIES - 31100 INTEREST/DIVIDENDS INCOME - 31200 MISCELLANEOUS REVENUE - 40100 RENT EXPENSE 52,800.00 40200 ADVERTISING EXPENSE 20,805.00 40300 OFFICE SUPPLIES EXPENSE 5,062.30 40400 DEPRECIATION EXPENSE - 40500 WAGES AND SALARIES EXPENSE 125,464.80 40600 PAYROLL TAX EXPENSE 10,742.62 40700 FEDERAL INCOME TAX EXPENSE - 40800 INTEREST EXPENSE - Page 5 of 31 Frank Kaka, Rita Salam General Ledger In Balance Expand before printing General Ledger Collapse before printing Trial Balance 2,412,758.30 2,412,758.30 40900 BAD DEBT EXPENSE - 41000 OTHER OPERATING EXPENSE 29,555.00 Page 6 of 31 Frank Kaka, Rita Salam Accounts Receivable Subsidiary Ledger Customer Number 406 407 Customer Name Terms Rosemont University Clayborn University 2/10 net 30 125,000.00 2/10 net 30 125,000.00 Page 7 of 31 Credit Limit Due 19,495.00 - Frank Kaka, Rita Salam Accounts Receivable Subsidiary Ledger 408 409 410 Branch College University of Southern Iowa Eastern Wisconsin University 2/10 net 30 100,000.00 2/10 net 30 100,000.00 2/10 net 30 75,000.00 Page 8 of 31 1,233.12 25,227.00 Frank Kaka, Rita Salam Accounts Receivable Subsidiary Ledger Stevenson College 411 Date 1-Oct 24-Oct 7-Nov 7-Nov 23-Dec Description Balance Forward Invoice Credit memo on 723 Payment Bad Debt 2/10 net 30 Invoice 723 41 723 Debit 2,900.00 57,696.00 75,000.00 Credit 23,014.00 34,682.00 2,900.00 Balance 2,900.00 60,596.00 37,582.00 2,900.00 - Total Outstanding Receivables 45,955.12 Balance Per GL 24,005.00 Difference Needs Reconciliation (21,950.12) Approved Page 9 of 31 Expand before printing Page 10 of 31 Expand before printing Page 11 of 31 Expand before printing Page 12 of 31 Frank Kaka, Rita Salam Accounts Payable Subsidiary Ledger Vendor Number 252 253 Date 1-Oct 6-Oct 19-Oct 8-Nov 21-Nov 23-Nov 12-Dec 12-Dec 19-Dec 29-Dec Vendor Name Terms Freight Velocity Sporting Goods Chicago Office Supplies 2/10 Net 30 Collect Due on Receipt No Charge Description Balance Forward Check Vendor Invoice Check Vendor Invoice Check Vendor Invoice Check vendor Invoice vendor Invoice invoice / check # 1111 2112 1124 2275 1136 2344 1141 2378 2423 Debit Credit 1,087.83 1,087.83 985.80 985.80 558.09 558.09 7,367.00 7,367.00 Page 13 of 31 830.25 1,256.10 Due (4,136.00) 2,086.35 Balance 1,087.83 985.80 558.09 7,367.00 830.25 2,086.35 2,086.35 Frank Kaka, Rita Salam Accounts Payable Subsidiary Ledger Vendor Number 261 Vendor Name Vendor Name Terms Freight Gillett Consulting Net 30 Days NA Due 3,650.00 Total Accounts Payable Due 1,600.35 Balance Per GL 3,650.00 Difference needs reconcilation 2,049.65 Approved Page 14 of 31 Expand before printing AP Ledger Collapse before printing AP Report Page 15 of 31 Expand before printing AP Ledger Collapse before printing AP Report Page 16 of 31 Frank Kaka, Rita Salam Fixed Asset Subsidiary Ledger Expand before printing Fixed Asset Ledger Collapse before printing Fixed Asset Report Cost 50,750.00 69,255.00 200,660.00 7,367.00 - Accumulated Depreciation 50,750.00 20,776.50 10,033.00 - Net book Value 48,478.50 190,627.00 7,367.00 - Totals 328,032.00 81,559.50 246,472.50 Per GL 320,665.00 81,559.50 239,105.50 Description Location Office Furniture Delivery Truck Inventory Handling System 146 GB Rack Server Office Loading Dock Warehouse Office Difference Requires Reconciliation (7,367.00) Approved Page 17 of 31 (7,367.00) Frank Kaka, Rita Salam Employee Earnings Subsidiary Ledger Employee's Name Employee's Name Employee's Name Expand before printing Ray Kramer Jim Adams Nancy Ford Soc.Sec.No. Soc.Sec.No. Soc.Sec.No. Total 132,704.80 Per GL 125,464.80 Difference 8,227.70 1,924.22 7,240.00 Approved Page 18 of 31 xxx-xx-2376 xxx-xx-9833 xxx-xx-4832 11,207.00 6,066.92 105,278.96 Frank Kaka, Rita Salam General Journal November and December 2022 Ref # 1 Date 30-Nov Balance: Account Explanation 40600 Payroll Tax Expense 20700 FICA Payable 20500 SUTA Payable 20600 FUTA Payable Post X X X X 1,106.92 Debit 1,106.92 Credit Approval 1,085.92 1,014.66 60.96 10.30 To record November payroll taxes 2 30-Nov 41000 Other Operating Expenses 10100 Cash RK X X To record November bank service charges 21.00 21.00 ` RK Page 19 of 31 Frank Kaka, Rita Salam General Journal November and December 2022 Ref # Date Account Balance: Explanation Post Page 20 of 31 1,106.92 Debit 1,106.92 Credit Approval Frank Kaka, Rita Salam Sales Journal Balance Debits Credits 284,580.00 284,580.00 November and December 2022 Date 7-Nov 7-Nov 10-Nov 14-Nov November Customer Stevenson College Rosemont University Branch College Eastern Wisconsin Univ. Invoice / Credit Memo Number CM41 724 725 726 Debit Subsidiary Posted Account 411 406 408 410 x x x x Monthly Totals Acct. Rec. GL 10200 December Rosemont University Clayborn University Eastern Wisconsin Univ. Branch College rosemont University rosemont University eastern Wisconsin Univ. 406 407 410 408 406 406 410 Monthly Totals x x x x x 23,014.00 23,014.00 Posted 60,277.00 Posted 23,014.00 Posted 4,174.00 7,252.00 21,872.00 1,656.00 16,170.00 3,325.00 4,550.00 Posted Acct. Rec. GL 10200 2,460.00 32,912.00 24,905.00 4,174.00 7,252.00 21,872.00 1,656.00 16,170.00 3,325.00 54,449.00 Page 21 of 31 Sales GL 30100 23,014.00 60,277.00 727 728 729 730 731 732 729 Sales Returns GL 30200 2,460.00 32,912.00 24,905.00 Posted 1-Dec 7-Dec 8-Dec 13-Dec 16-Dec 21-Dec 23-Dec Credit 4,550.00 Posted 4,550.00 54,449.00 Posted 4,550.00 Posted Frank Kaka, Rita Salam Cash Receipts Journal Balance Debits Credits 215,760.00 215,760.00 November and December 2022 Debit Date 7-Nov 13-Nov 17-Nov 17-Nov 21-Nov November Description Stevenson College McClain College Rosemont University Branch College Eastern Wisconsin Univ. Dep Ctrl init NF NF NF NF NF Monthly Totals Cash GL 10100 34,682.00 7,767.00 2,410.80 32,253.76 5,000.00 82,113.56 Posted 6-Dec 8-Dec 12-Dec 14-Dec 14-Dec 16-Dec 19-Dec 27-Dec 27-Dec December Gates University Rosemont University Hancock College Clayborn University Atwood Brothers branch college First american bank Eastern Wiscinsin Unversity Hawkins College December Total NF NF NF NF NF NF NF NF NF Credit Accounts Receivable GL 10200 RK 5,891.00 4,090.52 5,306.00 7,106.96 825.00 1,622.88 90,000.00 12,000.00 5,835.00 132,677.36 Posted Sales Disc GL 30300 Subs Acct Subs Trans Amount No Post Ref 411 34,682.00 x 406 408 410 2,460.00 32,912.00 5,000.00 x x x Other GL Sales GL 30100 Acct No. Trans Amount 7,767.00 49.20 658.24 707.44 75,054.00 7,767.00 Posted Posted - Posted 5,891.00 83.48 406 4,174.00 x 145.04 407 7,252.00 x 33.12 408 1,656.00 410 12,000.00 5,306.00 31200 825.00 90,000.00 5,835.00 261.64 Posted Page 22 of 31 25,082.00 Posted 17,032.00 Posted 90,825.00 Posted Frank Kaka, Rita Salam Purchases Journal Balance Debits Credits 94,705.44 94,705.44 November and December 2022 Date 3-Nov 21-Nov November Vendor Velocity Sporting Goods Chicago Office Supply Vendor Invoice Number 33371 2275 Monthly Totals Debit Purchases GL 30500 Credit Accounts Payable GL 20100 Other GL Acct. No Transaction Amount 558.09 Subs Acct. Post Ref Trans Amount No. 252 27,380.00 x 253 558.09 558.09 27,938.09 27,380.00 40300 27,380.00 Posted 5-Dec 12-Dec 19-Dec 22-Dec 29-Dec December Velocity Sporting Goods Chicago Office Supplies chicago Office Supplies velocity Sporting Goods chicago Office Supplies Monthly Totals 33965 2344 2378 34719 2423 x x Posted Posted 36,115.00 10800 7,367.00 830.25 21,199.00 1,256.10 59,400.35 Subs Post Ref 7,367.00 252 253 253 252 253 36,115.00 7,367.00 830.25 21,199.00 1,256.10 66,767.35 Posted Posted Page 23 of 31 Purchases Returns GL 30600 x x x x x Posted 0 Frank Kaka, Rita Salam Cash Disbursements Journal Balance Debits Credits 128,697.86 128,697.86 November and December 2022 Credit Date Check/ACH No. Description Cash GL 10100 8-Nov 11-Nov 15-Nov 15-Nov 1124 1125 1126-8 1129 Chicago Office Supplies Velocity Sporting Goods See Payroll Journal Internal Revenue Service 985.80 26,832.40 15-Nov 15-Nov 17-Nov 17-Nov 17-Nov 17-Nov 23-Nov 30-Nov 1130 1131 1132 1133 1134 1135 1136 1137-9 Internal Revenue Service State of Illinois Worldwide Management Board of water and Light Interstate motor freight University Athletic News Chicago Office Supply See Payroll Journal 10.00 618.82 4,800.00 1,763.65 2,356.99 3,250.00 558.09 November Monthly Totals Debit Accounts Payable GL 20100 Subs Acct Subs Post Trans Amount No. Ref 253 985.80 X 547.60 252 27,380.00 X Purchase Discounts GL 30700 Freight in GL 30800 2,876.92 44,052.67 Posted Other GL Acct No. Trans Amount 20300 20700 20600 20400 40100 41000 944.00 1,932.92 10.00 618.82 4,800.00 1,763.65 x x x x x x 40200 3,250.00 x 2,356.99 253 547.60 558.09 X 28,923.89 2,356.99 Posted Posted 13,319.39 Posted RK 7-Dec 12-Dec 13-Dec 13-Dec 13-Dec 13-Dec 14-Dec 1140 1141 E-53430 1142 1143 1144 1145 First Security Insurance Chicago Office Supply Velocity Sporting Goods Worldwide Management Board of Water & Light Interstate Motor Freight Internal Revenue Service 575.00 7,367.00 35,392.70 4,800.00 1,360.25 778.75 3,066.32 14-Dec 14-Dec 14-Dec 15-Dec 20-Dec 28-Dec 28-Dec 29-Dec 1146 1147 1148 1149-51 1152 1153 1154 E-53431 Internal Revenue Service State of Illinois State of Illinois See Payroll Journal First american bank unversity athletic news internal Revenue Service velocity Sporting Goods 10.30 60.96 590.86 1,710.00 1,590.00 738.15 24,828.30 506.70 Monthly Totals 82,868.59 1,229.00 December Posted Post Ref 722.30 253 252 7,367.00 36,115.00 41000 575.00 40100 41000 4,800.00 1,360.25 20300 20700 20600 20500 20400 1,037.00 2,029.32 10.30 60.96 590.86 41000 72654 1,710.00 1,590.00 X X 778.75 738.15 252 Posted Page 24 of 31 25,335.00 68,817.00 Posted 1,516.90 Posted 13,763.69 Frank Kaka, Rita Salam Payroll Journal Balance November and December 2022 Debits 20,503.50 Gross Pay Date Employee Regular Hours Regular Pay Overtime Hours Deductions Overtime Pay 15-Nov 15-Nov 15-Nov Ray Kramer Jim Adams Nancy Ford 88 49 3,500.00 1,848.00 833.00 12.70 400.05 30-Nov 30-Nov 30-Nov Ray Kramer Jim Adams Nancy Ford 88 52 3,500.00 1,848.00 884.00 14.30 450.45 November Monthly Totals 12,413.00 850.50 Gross Pay GL 40500 Debit Social Security GL 20700 Credit ...
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Systems Understanding Aid - 10th Edition*
Hybrid Approach Workbook
Enter your name

Table of Contents

Reference

Chart of Accounts
Ledgers
General Ledger
Accounts Payable Subsidiary Ledger
Accounts Receivable Subsidiary Ledger
Employee Earnings Subsidiary Ledger
Fixed Assets Subsidiary Ledger
Journals
General Journal
Sales Journal
Cash Receipts Journal
Purchases Journal
Cash Disbursements Journal
Payroll Journal
Pay Rate History
Other Required Documents
Bank Reconciliation
Year End Worksheet
Post Closing TB
Cash Flow Worksheet
Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Other Reports
AR Aging Report

Doc No 2
Ledgers pg. 3-15
Ledgers pg. 18
Ledgers pg. 16-17
Ledgers pg. 19-21
Ledgers pg. 22-23
Jrnls pg. 3-5
Jrnls pg. 7
Jrnls pg. 9
Jrnls pg. 11
Jrnls pg. 12-13
Jrnls pg. 15
Ledgers pg. 19
See Ref book
Doc 26
Doc 27
See Ref book
See Ref book
See Ref book
See Ref book

Mode

TARP

Chart of Accounts
Account
Number
10100
10200
10210
10300
10400
10500
10600
10700
10800
10900
11000
20100
20200
20300
20400
20500
20600
20700
20800
20900
21000
21100
21200
26000
27000
28000
29000
29010
30100
30200
30300
30400
30500
30600
30700
30800
30900
31000
31100
31200
40100

Account
Cash
Accounts receivable
Accounts receivable from employees
Allowance for doubtful accounts
Inventory
Prepaid expense
Marketable securities
Interest receivable
Fixed assets
Accumulated depreciation
Notes receivable
Accounts payable
Wages and salaries payable
Federal income taxes withheld
State income taxes withheld
State unemployment taxes payable
Federal unemployment taxes payable
F.I.C.A. taxes payable
Federal income taxes payable
Dividends payable
Interest payable
Notes payable
Unearned revenue
Common stock
Paid in capital
Income summary
Retained earnings
Dividends declared
Sales
Sales returns and allowances
Sales discounts taken
Cost of goods sold
Purchases
Purchases returns and allowances
Purchases discounts taken
Freight-in
Gain/loss on sale of fixed assets
Gain/loss on sale of marketable securities
Interest/dividends income
Miscellaneous revenue
Rent expense

Page 3 of 31

Category
Assets
Assets
Assets
Assets
Assets
Assets
Assets
Assets
Assets
Assets
Assets
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Liabilities
Equity
Equity
Equity
Equity
Equity
Gross Profit
Gross Profit
Gross Profit
Gross Profit
Gross Profit
Gross Profit
Gross Profit
Gross Profit
Other Revenue
Other Revenue
Other Revenue
Other Revenue
Operating Expenses

Chart of Accounts
Account
Number
40200
40300
40400
40500
40600
40700
40800
40900
41000

Account
Advertising expense
Office supplies expense
Depreciation expense
Wages and salaries expense
Payroll tax expense
federal income tax expense
Interest expense
Bad debt expense
Other operating expense

Category
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses
Operating Expenses

Page 4 of 31

General Ledger
In Balance

Expand before printing General Ledger
Collapse before printing Trial Balance
2,412,758.30

2,412,758.30

10100 CASH

69,753.20

10200 ACCOUNTS RECEIVABLE

24,005.00

10210 ACCOUNTS RECEIVABLE FROM EMPLOYEES

10300 ALLOWANCE FOR DOUBTFUL ACCOUNTS

(1,750.81)

10400 INVENTORY

101,681.00

10500 PREPAID EXPENSE

10600 MARKETABLE SECURITIES

24,000.00

10700 INTEREST RECEIVABLE

10800 FIXED ASSETS

320,665.00

10900 ACCUMULATED DEPRECIATION

(81,559.50)

11000 NOTES RECEIVABLE

20100 ACCOUNTS PAYABLE

(3,650.00)

20200 WAGES AND SALARIES PAYABLE

20300 FEDERAL INCOME TAXES WITHHELD

(1,037.00)

20400 STATE INCOME TAXES WITHHELD

(590.86)

20500 STATE UNEMPLOYMENT TAXES PAYABLE

(60.96)

20600 FEDERAL UNEMPLOYMENT TAXES PAYABLE

(10.30)

20700 F.I.C.A. TAXES PAYABLE

(2,029.32)

20800 FEDERAL INCOME TAXES PAYABLE

20900 DIVIDENDS PAYABLE

21000 INTEREST PAYABLE

21100 NOTES PAYABLE

21200 UNEARNED REVENUE

26000 COMMON STOCK

(225,000.00)

27000 PAID IN CAPITAL

28000 INCOME SUMMARY

29000 RETAINED EARNINGS

(90,264.99)

29010 DIVIDENDS DECLARED

30100 SALES

(1,518,230.00)

30200 SALES RETURNS AND ALLOWANCES

57,631.00

30300 SALES DISCOUNTS TAKEN

15,144.18

30400 COST OF GOODS SOLD

30500 PURCHASES

1,078,500.00

30600 PURCHASES RETURNS AND ALLOWANCES

(19,445.00)

30700 PURCHASES DISCOUNTS TAKEN

(15,561.30)

30800 FREIGHT-IN

23,380.94

30900 GAIN/LOSS ON SALE OF FIXED ASSETS

31000 GAIN/LOSS ON SALE OF MARKETABLE SECURITIES

31100 INTEREST/DIVIDENDS INCOME

31200 MISCELLANEOUS REVENUE

40100 RENT EXPENSE

52,800.00

40200 ADVERTISING EXPENSE

20,805.00

40300 OFFICE SUPPLIES EXPENSE

5,062.30

40400 DEPRECIATION EXPENSE

40500 WAGES AND SALARIES EXPENSE

125,464.80

40600 PAYROLL TAX EXPENSE

10,742.62

40700 FEDERAL INCOME TAX EXPENSE

40800 INTEREST EXPENSE

Page 5 of 31

General Ledger
In Balance

Expand before printing General Ledger
Collapse before printing Trial Balance
2,412,758.30

2,412,758.30

40900 BAD DEBT EXPENSE

41000 OTHER OPERATING EXPENSE

29,555.00

Page 6 of 31

Accounts Receivable Subsidiary Ledger
Customer
Number
406
407

Customer Name

Terms

Rosemont University
Clayborn University

2/10 net 30

125,000.00

2/10 net 30

125,000.00

Page 7 of 31

Credit Limit

Due
19,495.00
-

Accounts Receivable Subsidiary Ledger
408
409
410

Branch College
University of Southern Iowa
Eastern Wisconsin University

2/10 net 30

100,000.00

2/10 net 30

100,000.00

2/10 net 30

75,000.00

Page 8 of 31

1,233.12
25,227.00

Accounts Receivable Subsidiary Ledger
Stevenson College

411
Date
1-Oct
24-Oct
7-Nov
7-Nov
23-Dec

Description
Balance Forward
Invoice
Credit memo on 723
Payment
Bad Debt

2/10 net 30

Invoice
723
41
723

Debit
2,900.00
57,696.00

75,000.00

Credit

23,014.00
34,682.00
2,900.00

Balance
2,900.00
60,596.00
37,582.00
2,900.00
-

Total Outstanding Receivables

45,955.12

Balance Per GL

24,005.00

Difference

Needs Reconciliation

(21,950.12)
Approved

Page 9 of 31

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Page 10 of 31

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Page 11 of 31

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Page 12 of 31

Accounts Payable Subsidiary Ledger
Vendor
Number
252
253
Date
1-Oct
6-Oct
19-Oct
8-Nov
21-Nov
23-Nov
12-Dec
12-Dec
19-Dec
29-Dec

Vendor Name

Terms

Freight

Velocity Sporting Goods
Chicago Office Supplies

2/10 Net 30

Collect

Due on Receipt

No Charge

Description
Balance Forward
Check
Vendor Invoice
Check
Vendor Invoice
Check
Vendor Invoice
Check
vendor Invoice
vendor Invoice

invoice /
check #
1111
2112
1124
2275
1136
2344
1141
2378
2423

Debit

Credit
1,087.83

1,087.83
985.80
985.80
558.09
558.09
7,367.00
7,367.00

Page 13 of 31

830.25
1,256.10

Due
(4,136.00)
2,086.35
Balance
1,087.83
985.80
558.09
7,367.00
830.25
2,086.35
2,086.35

Accounts Payable Subsidiary Ledger

Vendor
Number
261

Vendor Name
Vendor Name

Terms

Freight

Gillett Consulting

Net 30 Days

Due
3,650.00

Total Accounts Payable Due

1,600.35

Balance Per GL

3,650.00

Difference

needs reconcilation

2,049.65
Approved

Page 14 of 31

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Page 15 of 31

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Collapse before printing AP Report

Page 16 of 31

Fixed Asset Subsidiary Ledger

Expand before printing Fixed Asset Ledger
Collapse before printing Fixed Asset Report
Cost
50,750.00
69,255.00
200,660.00
7,367.00
-

Accumulated
Depreciation
50,750.00
20,776.50
10,033.00
-

Net book
Value
48,478.50
190,627.00
7,367.00
-

Totals

328,032.00

81,559.50

246,472.50

Per GL

320,665.00

81,559.50

239,105.50

Description

Location

Office Furniture
Delivery Truck
Inventory Handling System
146 GB Rack Server

Office
Loading Dock
Warehouse
Office

Difference

Requires Reconciliation

(7,367.00)

Approved

Page 17 of 31

(7,367.00)

Employee Earnings Subsidiary Ledger

Employee's Name
Employee's Name
Employee's Name
Home Address
Employed
Date of Birth

Period
Ending
Paid
Oct 1 Balance forward
15-Oct
14-Oct
31-Oct
31-Oct
October subtotal
15-Nov
15-Nov
30-Nov
30-Nov
November subtotal
15-Dec
15-Dec
20-Dec
20-Dec
December subtotal

Expand before printing

Ray Kramer
Jim Adams
Nancy Ford
1018 Whittier, Chicago, 60823
10/1/2022
5/23/1989
Hours Worked
Over
Regular
Time
Hours
Hours

Soc.Sec.No.
Soc.Sec.No.
Soc.Sec.No.
Phone No.
Date of Termination
Occupation

xxx-xx-2376
xxx-xx-9833
xxx-xx-4832
312-351-5251
Clerk

FICA

Gross Pay
816.00
850.00
1,666.00
833.00
884.00
3,383.00
1,526.60
1,641.00
6,550.60

Social Security
50.59
52.70
103.29
51.65
54.81
209.75
94.65
101.74
406.14

Medicare
11.83
12.33
24.16
12.08
12.81
49.05
22.14
23.79
94.98

Federal Income
Tax
51.00
54.82
105.82

State Income
Tax
26.32
28.00
54.32
27.16
29.68
111.16
61.49
66.09
238.74

Net Pay
727.26
756.97
1,484.23
742.11
786.70
3,013.04
1,297.32
1,394.56
5,704.92

Total

140,161.80

8,690.03

2,032.34

11,776.84

6,401.82

111,260.77

Per GL

125,464.80

48
50

0
0

49
52

0
0

88
88

1.2
1.2

Difference

14,697.00
Approved

Page 18 of 31

General Journal
November and December 2022
Ref #
1

Date
30-Nov

Balance:

Account

Explanation

40600 Payroll Tax Expense
20700
FICA Payable
20500
SUTA Payable
20600
FUTA Payable

Post
X
X
X
X

1,106.92
Debit

1,106.92
Credit

Approval

1,085.92
1,014.66
60.96
10.30

To record November payroll taxes
2

30-Nov

41000 Other Operating Expenses
10100
Cash

RK
X
X

To record November bank service
charges

21.00
21.00
`
RK

Page 19 of 31

General Journal
November and December 2022
Ref #

Date

Account

Balance:
Explanation

Post

Page 20 of 31

1,106.92
Debit

1,106.92
Credit

Approval

Sales Journal

Balance
Debits
Credits
284,580.00
284,580.00

November and December 2022

Date

7-Nov
7-Nov
10-Nov
14-Nov
November

Customer

Stevenson College
Rosemont University
Branch College
Eastern Wisconsin Univ.

Invoice /
Credit
Memo
Number
CM41
724
725
726

Debit
Subsidiary
Posted
Account
411
406
408
410

x
x
x
x

Monthly Totals

Acct. Rec.
GL 10200

December

Rosemont University
Clayborn University
Eastern Wisconsin Univ.
Branch College
rosemont University
rosemont University
eastern Wisconsin Univ.

406
407
410
408
406
406
410

Monthly Totals

x
x
x
x
x

23,014.00

23,014.00
Posted

60,277.00
Posted

23,014.00
Posted

4,174.00
7,252.00
21,872.00
1,656.00
16,170.00
3,325.00
4,550.00

Posted

Acct. Rec.
GL 10200

2,460.00
32,912.00
24,905.00

4,174.00
7,252.00
21,872.00
1,656.00
16,170.00
3,325.00

54,449.00

Page 21 of 31

Sales
GL 30100

23,014.00

60,277.00

727
728
729
730
731
732
729

Sales Returns
GL 30200

2,460.00
32,912.00
24,905.00

Posted

1-Dec
7-Dec
8-Dec
13-Dec
16-Dec
21-Dec
23-Dec

Credit

4,550.00
Posted

4,550.00
54,449.00
Posted

4,550.00
Posted

Cash Receipts Journal

Balance
Debits
Credits
215,760.00
215,760.00

November and December 2022

Debit
Date

7-Nov
13-Nov
17-Nov
17-Nov
21-Nov
November

Description

Stevenson College
McClain College
Rosemont University
Branch College
Eastern Wisconsin Univ.

Dep
Ctrl
init
NF
NF
NF
NF
NF

Monthly Totals

Cash
GL 10100
34,682.00
7,767.00
2,410.80
32,253.76
5,000.00
82,113.56
Posted

6-Dec
8-Dec
12-Dec
14-Dec
14-Dec
16-Dec
19-Dec
27-Dec
27-Dec

December

Gates University
Rosemont University
Hancock College
Clayborn University
Atwood Brothers
branch college
First american bank
Eastern Wiscinsin Unversity
Hawkins College

December Total

NF
NF
NF
NF
NF
NF
NF
NF
NF

Credit
Accounts Receivable GL 10200

RK
5,891.00
4,090.52
5,306.00
7,106.96
825.00
1,622.88
90,000.00
12,000.00
5,835.00

132,677.36
Posted

Sales Disc
GL 30300

Subs Acct
Subs
Trans Amount
No
Post...

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