General Journal General Journal

Date Accounts Debit (Credit) Date Accounts Debit

1/1 Inventory Asset 2,897 1/12 Accounts Receivable 431
Owners Equity (2,897) Merchandise Sales
Sales Tax Payable
1/1 Accounts Receivable 20,500
Owners Equity (20,500) Cost of Goods Sold 328
Inventory Asset
1/1 Owners Equity 15,000
Accounts Payable (15,000) 1/12 Accounts Receivable 399
Merchandise Sales
1/1 Checking 25,000 Sales Tax Payable
Furniture & Equipment 75,000
Visa (1,000) Cost of Goods Sold 304
Loan Payable - Long Term (22,000) Inventory Asset
Owners Equity (77,000)
1/12 Undeposited Funds 5,000
1/10 Checking 65,000 Accounts Receivable
Owners Equity (65,000)
1/12 Undeposited Funds 7,500
1/10 Checking 50,000 Accounts Receivable
Loan Payable - Long Term (50,000)
1/12 Undeposited Funds 8,000
1/4 Short-Term Investments 12,000 Accounts Receivable
Checking (12,000)
1/16 Undeposited Funds 420
1/9 Furniture & Equipment 16,000 Merchandise Sales
Checking (16,000) Sales Tax Payable

1/11 Furniture & Equipment 7,000 Cost of Goods Sold 320

Checking (7,000) Inventory Asset
l General Journal General Journal
(Credit) Date Accounts Debit (Credit) Date Accounts
1/16 Undeposited Funds 208 1/28 Undeposited Funds
(410) Service (208) Accounts Receivable
(21)
1/17 Checking 628 1/28 Undeposited Funds
Undeposited Funds (628) Accounts Receivable
(328)
1/17 Checking 20,500 1/28 Checking
Undeposited Funds (20,500) Undeposited Funds
(380)
(19) 1/25 Inventory Asset 400 1/28 Prepaid Insurance
Checking (400) Checking

(304) 1/25 Inventory Asset 598 1/28 Office Supplies

Checking (598) Checking

(5,000) 1/25 Accounts Receivable 525 1/28 Utilities

Merchandise Sales (500) Checking
Sales Tax Payable (25)
(7,500) 1/28 Telephone Expense
1/25 Cost of Goods Sold 400 Checking
Inventory Asset (400)
(8,000) 1/28 Accounts Payable
1/25 Accounts Receivable 816 Checking
Merchandise Sales (777)
(400) Sales Tax Payable (39) 1/31 Payroll Expenses
(20) Payroll Liability
Cost of Goods Sold 598 Checking
Inventory Asset (598)
(320) Payroll Expenses
Payroll Liability
Checking

Payroll Expenses
Payroll Liability
eral Journal General Journal
Debit (Credit) Date Accounts Debit (Credit)
431 1/31 Undeposited Funds 300
(431) Service (300)

525
(525)

956
(956)

11,000
(11,000)

500
(500)

620
(620)

360
(360)

15,000
(15,000)

4,583
(1,044)
(3,539)

800
(170)
(630)

384
(384)
 Owner's
Assets = Liabilities + Equity
218,897 = 74,721 + 144,175
218,897
Accounts Trial Balance General Ledger General Le
Checking 94,437 Checking Accounts Receivable
Accounts Receivable 1,215 Debit Credit Balance Debit Credit
Inventory Asset 1,945 Beginning Balance 0 Beginning Balance
Prepaid Insurance 11,000 25,000 25,000 20,500
Short-Term Investments 12,000 65,000 90,000 431
Undeposited Funds 300 50,000 140,000 399
Accumulated Depreciation 0 (12,000) 128,000 (5,000)
Furniture & Equipment 98,000 (16,000) 112,000 (7,500)
Accounts Payable 0 (7,000) 105,000 (8,000)
Visa (1,000) 628 105,628 525
Interest Payable 0 20,500 126,128 816
Loan Payable - Current 0 (400) 125,728 (431)
Payroll Liability (1,598) (598) 125,130 (525)
Sales Tax Payable (123) 956 126,086
Unearned Revenue 0 (11,000) 115,086
Loan Payable - Long Term (72,000) (500) 114,586
Owners Draw 0 (620) 113,966 Inventory Asset
Owners Equity (150,397) (360) 113,606 Debit Credit
Merchandise Sales (2,467) (15,000) 98,606 Beginning Balance
Rent Music Equipment 0 (3,539) 95,067 2,897
Service (508) (630) 94,437 (328)
Cost of Goods Sold 1,950 94,437 (304)
Bank Service Charges 0 94,437 (320)
Depreciation Expense 0 94,437 400
Insurance Expense 0 94,437 598
Interest Expense 0 94,437 (400)
Internet Expense 0 94,437 (598)
Misc. Expense 0 94,437
Office Supplies 500 94,437
Payroll Expenses 5,767 94,437
Telephone Expense 360 94,437
Utilities 620 94,437
Interest Income 0 94,437
Total Debits - Total (credits) 0
Net Income 6,222
l Ledger General Ledger General Ledger General Ledger General Ledger General Ledger Genera
counts Receivable Prepaid Insurance Furniture & Equipment Loan Payable - Current
Balance Debit Credit Balance Debit Credit Balance Debit Credit
0 Beginning Balance 0 Beginning Balance 0 Beginning Balance
20,500 11,000 11,000 75,000 75,000
20,931 11,000 16,000 91,000
21,330 11,000 7,000 98,000
16,330
8,830 Short-Term Investments Accounts Payable
830 Debit Credit Balance Debit Credit Balance Payroll Liability
1,355 Beginning Balance 0 Beginning Balance 0 Debit Credit
2,171 12,000 12,000 (15,000) (15,000) Beginning Balance
1,740 12,000 15,000 0 (1,044)
1,215 12,000 0 (170)
1,215 0 (384)
1,215 Undeposited Funds 0
Debit Credit Balance 0
Inventory Asset Beginning Balance 0 0
Balance 5,000 5,000 0 Sales Tax Payable
0 7,500 12,500 0 Debit Credit
2,897 8,000 20,500 0 Beginning Balance
2,569 420 20,920 0 (21)
2,265 208 21,128 (19)
1,945 (628) 20,500 Visa (20)
2,345 (20,500) 0 Debit Credit Balance (25)
2,943 431 431 Beginning Balance 0 (39)
2,543 525 956 (1,000) (1,000)
1,945 (956) (1) (1,000)
1,945 300 300
1,945 Interest Payable Unearned Revenue
1,945 Accumulated Depreciation Debit Credit Balance Debit Credit
1,945 Debit Credit Balance Beginning Balance 0 Beginning Balance
1,945 Beginning Balance 0 0
1,945 0 0
0 0
0 0
neral Ledger General Ledger General Ledger General Ledger General Ledger General Ledger
n Payable - Current Loan Payable - Long Term Service Depreciation Expense
Balance Debit Credit Balance Debit Credit Balance Debit Credit
0 Beginning Balance 0 Beginning Balance 0 Beginning Balance
0 (22,000) (22,000) (208) (208)
0 (50,000) (72,000) (300) (508)
0 (72,000) (508)
0 (508)
Owners Draw (508) Insurance Expense
Payroll Liability Debit Credit Balance (508) Debit Credit
Balance Beginning Balance 0 (508) Beginning Balance
0 0 (508)
(1,044) (508)
(1,214) Owners Equity (508)
(1,598) Debit Credit Balance
(1,598) Beginning Balance 0 Cost of Goods Sold Interest Expense
(1,598) (2,897) (2,897) Debit Credit Balance Debit Credit
(20,500) (23,397) Beginning Balance 0 Beginning Balance
ales Tax Payable 15,000 (8,397) 328 328
Balance (77,000) (85,397) 304 632
0 (65,000) (150,397) 320 952
(21) 400 1,352
(40) Merchandise Sales 598 1,950 Internet Expense
(60) Debit Credit Balance 1,950 Debit Credit
(85) Beginning Balance 0 1,950 Beginning Balance
(123) (410) (410) 1,950
(123) (380) (790) 1,950
(123) (400) (1,190) 1,950
(500) (1,690) 1,950
nearned Revenue (777) (2,467) 1,950 Misc. Expense
Balance (2,467) 1,950 Debit Credit
0 (2,467) Beginning Balance
0 Bank Service Charges
0 Rent Music Equipment Debit Credit Balance
Debit Credit Balance Beginning Balance 0
Beginning Balance 0 0
0 0
0
 Balance Sheet
Assets
Current assets:
General Ledger Cash 94,437
preciation Expense Office Supplies Accounts Receivable 1,215
Balance Debit Credit Balance Inventory Asset 1,945
0 Beginning Balance 0 Prepaid Insurance 11,000
0 500 500 Short-Term Investments 12,000
0 500 Undeposited Funds 300
0 500 Total current assets 120,897
Property Plant & Equipment:
nsurance Expense Payroll Expenses Furniture & Equipment 98,000
Balance Debit Credit Balance Less: Accumulated Depreciation 0
0 Beginning Balance 0 Total Property Plant & Equipment 98,000
0 4,583 4,583
0 800 5,383
0 384 5,767 Total Assets 218,897
5,767
nterest Expense 5,767 Income Statement
Balance Revenue:
0 Telephone Expense Merchandise Sales 2,467
0 Debit Credit Balance Rent Music Equipment 0
0 Beginning Balance 0 Service 508
0 360 360 Total revenue 2,975
360 Cost of Goods Sold 1,950
nternet Expense 360 Gross Profit 1,025
Balance Expenses:
0 Utilities Bank Service Charges 0
0 Debit Credit Balance Depreciation Expense 0
0 Beginning Balance 0 Insurance Expense 0
0 620 620 Interest Expense 0
620 Internet Expense 0
Misc. Expense 620 Misc. Expense 0
Balance Office Supplies 500
0 Interest Income Payroll Expenses 5,767
0 Debit Credit Balance Telephone Expense 360
0 Beginning Balance 0 Utilities 620
0 0 Total expenses 7,247
0 Net Ordinary Income (6,222)
0 Other Income/Expense:
 Interest Income 0
Net Income (Loss) (6,222)

Statement of Owner's Equity

Beginning Owner's Equity 85,397
Owner Investment 65,000
Net Income (Loss) (6,222)
Draws 0
Net increase 58,778
Ending Owner's Equity 144,175

Net Income (loss) (6,222)

Draws 0
Net decrease 58,778
Ending Owner's Equity 144,175
Balance Sheet
Liabilities ELP Purchases
Current Liabilities:
Date Quantity
Accounts Payable 0
Credit card 1,000 1-Jan
Interest Payable 0 25-Jan 1
Loan Payable - Current 0
Payroll Liability 1,598 25-Jan
Sales Tax Payable 123
Unearned Revenue 0
Total Current Liabilities 2,721
Loan Payable - Long Term 72,000
Total Liabilities 74,721
Equity:
Owners Equity 144,175

Total Liabilities & Equity 218,897 ENLPBUNH3 Purchases

Date Quantity
1-Jan

ERP93 Purchases

Date Quantity
1-Jan

GTPROBK1 Purchases
Date Quantity
1-Jan

GUSAM2 Purchases

Date Quantity
1-Jan

WILDKAT Purchases

Date Quantity
1-Jan

GSB Purchases

Date Quantity
25-Jan 1
25-Jan
Purchases Cost of Merchandise Sold Inventory Accounts Receiva
Unit Total Unit Total Unit Total Anderson Guitars
Cost Cost Quantity Cost Cost Quantity Cost Cost
Debit
1 $400 $400 Beginning Balance
400 $400 1 $400 $400 5,000
2 $400 $800 431
1 400 $400 1 $400 $400

Smith Guitars
Debit
Beginning Balance
8,000

Purchases Cost of Merchandise Sold Inventory

Unit Total Unit Total Unit Total Music Stuff Store
Cost Cost Quantity Cost Cost Quantity Cost Cost Debit
### 1 $480 $480 Beginning Balance
816

Sam The Guitar Man

Debit
Beginning Balance
Purchases Cost of Merchandise Sold Inventory
Unit Total Unit Total Unit Total
Cost Cost Quantity Cost Cost Quantity Cost Cost
1 $440 $440
Job 4002 Sam The Guitar M
Debit
Beginning Balance

Purchases Cost of Merchandise Sold Inventory

Unit Total Unit Total Unit Total Total AR subsidiary ledger b
 Cost Cost Quantity Cost Cost Quantity Cost Cost
1 $328 $328
1 328 $328 0 $328 $0

Purchases Cost of Merchandise Sold Inventory

Unit Total Unit Total Unit Total
Cost Cost Quantity Cost Cost Quantity Cost Cost
2 $304 $608
1 304 $304 1 $304 $304

Purchases Cost of Merchandise Sold Inventory

Unit Total Unit Total Unit Total
Cost Cost Quantity Cost Cost Quantity Cost Cost
2 $320 $640
1 320 $320 1 $320 $320

Purchases Cost of Merchandise Sold Inventory

Unit Total Unit Total Unit Total
Cost Cost Quantity Cost Cost Quantity Cost Cost
598 $598 1 $598 $598
1 598 $598 0 $598 $0
Total $1,944
 Accounts Receivable Subsidiary Ledger By Customer Accounts Payable Subsidiary Ledger
Anderson Guitars Jones Guitars Accounts Receivable Subsidiary Ledger balance
Credit Balance Debit Credit Balance Epiphone
Beginning Balance 0 Beginning Balance 0 Debit Credit Balance Debit
5,000 7,500 7,500 Beginning Balance 0 Beginning Balance
5,431 399 7,899 (15,000) (15,000)
(5,000) 431 (7,500) 399 15,000 0
(431) 0 399 0

Smith Guitars Job 3005 Jones

Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0 Beginning Balance 0
8,000 0 0 0
(8,000) 0 0 0
0 0
0
Music Stuff Store Eric Misic
Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
816 525 525
816 (525) 0
816 0

Sam The Guitar Man

Credit Balance
Beginning Balance 0
0
0
0

Job 4002 Sam The Guitar Man

Credit Balance
Beginning Balance 0
0
0
0

Total AR subsidiary ledger by customer 1,215

ubsidiary Ledger Payroll Register 01/01 01/31
0 Exployee
Name Total Social Income Net
Credit Balance Earnings Secutity Medicare Tax Pay
Beginning Balance 0 Adam Hamulton 4,583 258 66 720 3,539
0 Erica 800 49 11 110 630
0 Total 5,383 307 77 830 4,169
 Employer
Social
Secutity Medicare
258 66
49 11
307 77
Closing Entries
General Journal
Date Accounts Debit (Credit) Accounts Trial Balance
Checking 94,437
Accounts Receivable 1,215
Inventory Asset 1,945
Prepaid Insurance 11,000
Short-Term Investments 12,000
Undeposited Funds 300
Accumulated Depreciation 0
Furniture & Equipment 98,000
Accounts Payable 0
Visa (1,000)
1/31 Merchandise Sales 2,467 Interest Payable 0
Service 508 Loan Payable - Current 0
Income Summary (2,975) Payroll Liability (1,598)
Sales Tax Payable (123)
1/31 Income Summary 9,197 Unearned Revenue 0
Cost of Goods Sold (1,950) Loan Payable - Long Term (72,000)
Office Supplies (500) Owners Draw 0
Payroll Expenses (5,767) Owners Equity (150,397)
Telephone Expense (360) Income Summary 0
Utilities (620) Merchandise Sales (2,467)
Rent Music Equipment 0
1/31 Owners Equity 6,222 Service (508)
Income Summary (6,222) Cost of Goods Sold 1,950
Bank Service Charges 0
1/31 Depreciation Expense 0
Insurance Expense 0
Interest Expense 0
Internet Expense 0
Misc. Expense 0
Office Supplies 500
Payroll Expenses 5,767
Telephone Expense 360
Utilities 620
Interest Income 0
Total Debits - Total (credits) 0
Net Income 6,222
Closing Post Closing
Entries Trial Balance
94,437
1,215
1,945
11,000
12,000
300
0
98,000
0
(1,000)
0
0
(1,598)
(123)
0
(72,000)
0
6,222 (144,175)
0 0
2,467 (0)
0
508 0
(1,950) 0
0
0
0
0
0
0
(500) 0
(5,767) 0
(360) 0
(620) 0
0
0 0
(6,222) (0)
 Assets = Liabilities
229,515 = 77,178
General Journal 22
Date Accounts Debit (Credit) Accounts Trial Balance
Checking 103,353
Accounts Receivable 10,449
Inventory Asset 1,713
Prepaid Insurance 11,000
Short-Term Investments 0
Undeposited Funds (1)
Accumulated Depreciation 0
Furniture & Equipment 103,000
Accounts Payable (1,200)
Visa (1,000)
Interest Payable 0
Loan Payable - Current 0
Payroll Liability 0
Sales Tax Payable (100)
Unearned Revenue 0
Loan Payable - Long Term (74,878)
Owners Draw 0
Owners Equity (144,175)
Merchandise Sales (2,000)
Rent Music Equipment 0
Service (9,300)
Cost of Goods Sold 1,600
Bank Service Charges 0
Depreciation Expense 0
Insurance Expense 0
Interest Expense 596
Internet Expense 180
Misc. Expense 0
Office Supplies 0
Payroll Expenses 0
Telephone Expense 365
Utilities 648
Interest Income (250)
Total Debits - Total (credits) 0
Net Income (8,161)
 Owner's
Liabilities + Equity
77,178 + 152,336
229,515
General Ledger General Ledger General Ledger General Ledg
Checking Accounts Receivable Prepaid Insurance
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 94,437 Beginning Balance 1,215 Beginning Balance 11,000
(1,359) 93,078 (250) 965 11,000
(1,359) 91,719 525 1,490 11,000
12,250 103,969 630 2,120 11,000
825 104,794 420 2,540
(168) 104,626 (300) 2,240 Short-Term Investments
1,641 106,267 (816) 1,424 Debit Credit Balance
(123) 106,144 (275) 1,149 Beginning Balance 12,000
(1,598) 104,546 950 2,099 (12,000) 0
(1,193) 103,353 950 3,049 0
103,353 1,900 4,949 0
103,353 1,050 5,999
103,353 900 6,899 Undeposited Funds
103,353 1,350 8,249 Debit Credit Balance
103,353 800 9,049 Beginning Balance 300
103,353 800 9,849 525 825
103,353 600 10,449 (825) (1)
103,353 10,449 250 250
103,353 10,449 300 550
103,353 10,449 816 1,366
103,353 10,449 275 1,641
103,353 (1,641) (1)
103,353 Inventory Asset (1)
103,353 Debit Credit Balance (1)
103,353 Beginning Balance 1,945 (1)
103,353 168 2,113 (1)
103,353 1,200 3,313
103,353 (400) 2,913 Accumulated Depreciation
103,353 (400) 2,513 Debit Credit Balance
103,353 (480) 2,033 Beginning Balance 0
103,353 (320) 1,713 0
1,713 0
1,713 0
1,713
1,713
edger General Ledger General Ledger General Ledger General Ledger General Ledger General L
Furniture & Equipment Loan Payable - Current Loan Payable - Long Term
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 98,000 Beginning Balance 0 Beginning Balance (72,000)
5,000 103,000 0 1,059 (70,941)
103,000 0 1,063 (69,878)
103,000 0 (5,000) (74,878)
0
Accounts Payable Owners Draw
Debit Credit Balance Payroll Liability Debit Credit Balance
Beginning Balance 0 Debit Credit Balance Beginning Balance 0
(168) (168) Beginning Balance (1,598) 0
(1,200) (1,368) 1,598 0
168 (1,200) 0 Owners Equity
(365) (1,565) 0 Debit Credit Balance
(180) (1,745) 0 Beginning Balance (144,175)
(648) (2,393) 0 (144,175)
1,193 (1,200) (144,175)
(1,200) Sales Tax Payable (144,175)
(1,200) Debit Credit Balance (144,175)
(1,200) Beginning Balance (123) (144,175)
(1,200) (25) (148)
(25) (173) Merchandise Sales
Visa (30) (203) Debit Credit Balance
Debit Credit Balance (20) (223) Beginning Balance (0)
Beginning Balance (1,000) 123 (100) (500) (500)
(1,000) (100) (500) (1,000)
(1,000) (100) (600) (1,600)
(400) (2,000)
Interest Payable Unearned Revenue (2,000)
Debit Credit Balance Debit Credit Balance (2,000)
Beginning Balance 0 Beginning Balance 0 (2,000)
0 0
0 0 Rent Music Equipment
0 Debit Credit Balance
0 Beginning Balance 0
0
Ledger General Ledger General Ledger General Ledger
Service Depreciation Expense Office Supplies
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0 Beginning Balance 0
(950) (950) 0 0
(950) (1,900) 0 0
(1,900) (3,800) 0 0
(1,050) (4,850)
(900) (5,750) Insurance Expense Payroll Expenses
(1,350) (7,100) Debit Credit Balance Debit Credit Balance
(800) (7,900) Beginning Balance 0 Beginning Balance 0
(800) (8,700) 0 0
(600) (9,300) 0 0
(9,300) 0 0
0
Cost of Goods Sold Interest Expense 0
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0 Telephone Expense
400 400 300 300 Debit Credit Balance
400 800 296 596 Beginning Balance 0
480 1,280 596 365 365
320 1,600 365
1,600 Internet Expense 365
1,600 Debit Credit Balance
1,600 Beginning Balance 0 Utilities
1,600 180 180 Debit Credit Balance
1,600 180 Beginning Balance 0
1,600 180 648 648
1,600 648
1,600 Misc. Expense 648
1,600 Debit Credit Balance
Beginning Balance 0 Interest Income
Bank Service Charges 0 Debit Credit Balance
Debit Credit Balance 0 Beginning Balance 0
Beginning Balance 0 0 (250) (250)
0 (250)
0 (250)
0
 Balance Sheet
Assets Liabilities
Current assets: Current Liabilities:
Cash 103,353 Accounts Payable 1,200
Accounts Receivable 10,449 Credit card 1,000
Inventory Asset 1,713 Interest Payable 0
Prepaid Insurance 11,000 Loan Payable - Current 0
Short-Term Investments 0 Payroll Liability 0
Undeposited Funds (1) Sales Tax Payable 100
Total current assets 126,515 Unearned Revenue 0
Property Plant & Equipment: Total Current Liabilities
Furniture & Equipment 103,000 Loan Payable - Long Term
Less: Accumulated Depreciation 0 Total Liabilities
Total Property Plant & Equipment 103,000 Equity:
Owners Equity

Total Assets 229,515 Total Liabilities & Equity

Income Statement
Revenue:
Merchandise Sales 2,000
Rent Music Equipment 0
Service 9,300
Total revenue 11,300
Cost of Goods Sold 1,600
Gross Profit 9,700
Expenses:
Bank Service Charges 0
Depreciation Expense 0
Insurance Expense 0
Interest Expense 596
Internet Expense 180
Misc. Expense 0
Office Supplies 0
Payroll Expenses 0
Telephone Expense 365
Utilities 648
Total expenses 1,789
Net Ordinary Income 7,911
Other Income/Expense:
 Interest Income 250
Net Income (Loss) 8,161

Statement of Owner's Equity

Beginning Owner's Equity 144,175
Owner Investment 0
Net Income (Loss) 8,161
Draws 0
Net increase 8,161
Ending Owner's Equity 152,336

Net Income (loss) 8,161

Draws 0
Net decrease 8,161
Ending Owner's Equity 152,336
 ELP Purchases Cost of Merchandise Sold
Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost

1-Jan
25-Jan 1 400 $400

25-Jan 1 400 $400

12-Feb 1 400 $400
14-Feb 3 400 $1,200
2,300 1 400 $400
74,878
77,178

152,336

229,515 ENLPBUNH3 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan ###
19-Feb 1 480 $480

ERP93 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan

GTPROBK1 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 328 $328

GUSAM2 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 304 $304

WILDKAT Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 320 $320
20-Feb 1 320 $320

GSB Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
25-Jan 1 598 $598
25-Jan 1 598 $598
SQ Purchases Cost of Merchandise Sold
Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
14-Feb 1 168 $168

Total
 Inventory Accounts Receivable Subsidiary Ledger By Customer
Unit Total Anderson Guitars Jones Guitars
Quantity Cost Cost
Debit Credit Balance Debit Credit Balance
1 $400 $400 Beginning Balance 0 Beginning Balance 0
1 $400 $400 5,000 5,000 7,500 7,500
2 $400 $800 431 5,431 399 7,899
1 $400 $400 (5,000) 431 (7,500) 399
0 $400 $0 (431) 0 399
3 $400 $1,200 (250) (250) 399
2 $400 $800 525 275 399
(275) 0 399
0 399

Smith Guitars Job 3005 Jones

Debit Credit Balance Debit Credit Balance
Inventory Beginning Balance 0 Beginning Balance 0
Unit Total 8,000 8,000 0
Quantity Cost Cost (8,000) 0 0
1 $480 $480 420 420 0
0 $480 $0 0
Music Stuff Store Eric Misic
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
816 816 525 525
630 1,446 (525) 0
(816) 630 0
Inventory
Unit Total Sam The Guitar Man String Music
Quantity Cost Cost Debit Credit Balance Debit Credit Balance
1 $440 $440 Beginning Balance 0 Beginning Balance 0
0 (300) (300)
0 (300)
0 (300)

Job 4002 Sam The Guitar Man Star Lee

Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
Inventory 0 950 950
Unit Total 0 950
Quantity Cost Cost 0 950
1 $328 $328
0 $328 $0 Diana Martinez Lin Jackson
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
950 950 1,900 1,900
950 1,900
950 1,900

Jenny Jones Diana Miller

Debit Credit Balance Debit Credit Balance
Inventory Beginning Balance 0 Beginning Balance 0
Unit Total 1,050 1,050 900 900
Quantity Cost Cost 1,050 900
2 $304 $608 1,050 900
1 $304 $304
Jill Gonzalez Noah Davis
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
1,350 1,350 800 800
1,350 800
1,350 800
Inventory
Unit Total Pam Smith Grace Mathew
Quantity Cost Cost Debit Credit Balance Debit Credit Balance
2 $320 $640 Beginning Balance 0 Beginning Balance 0
1 $320 $320 800 800 600 600
0 $320 $0 800 600
800 600

Total AR subsidiary ledger by customer 10,449

Inventory
Unit Total
Quantity Cost Cost
1 $598 $598
0 $598 $0
 Inventory
Unit Total
Quantity Cost Cost
1 $168 $168

$1,712
 Accounts Payable Subsidiary Ledger Payroll Register
Accounts Receivable Subsidiary Ledger balance (1,200)
Epiphone Fender Name Total
Debit Credit Balance Debit Credit Balance Earnings
Beginning Balance 0 Beginning Balance 0 Adam Hamulton 4,583
(15,000) (15,000) (168) (168) Erica 800
15,000 0 168 0 Total 5,383
(1,200) (1,200)
(1,200) Payroll Register
(1,200)
Name Total
Verizon Spectrum Earnings
Debit Credit Balance Debit Credit Balance Adam Hamulton
Beginning Balance 0 Beginning Balance 0 Erica
(365) (365) (180) (180) Total
365 0 180 0

Edison
Debit Credit Balance
Beginning Balance 0
(648) (648)
648 0
 Loan Amortization
01/01 01/31 Loan
Exployee Employer Monthly Payments
Social Income Net Social Rate
Secutity Medicare Tax Pay Secutity Medicare Payments
258 66 720 3,539 258 66
49 11 110 630 49 11 Payment Payment
307 77 830 4,169 307 77 Number Amount Interest
1 1,359 300
2/1 2/28 2 1,359 296
Exployee Employer 3 1,359 291
Social Income Net Social 4 1,359 287
Secutity Medicare Tax Pay Secutity Medicare 5 1,359 282
6 1,359 278
7 1,359 273
8 1,359 269
9 1,359 264
10 1,359 260
11 1,359 255
12 1,359 250
13 1,359 246
14 1,359 241
15 1,359 237
16 1,359 232
17 1,359 227
18 1,359 222
19 1,359 218
20 1,359 213
21 1,359 208
22 1,359 203
23 1,359 199
24 1,359 194
25 1,359 189
26 1,359 184
27 1,359 179
28 1,359 174
29 1,359 169
30 1,359 164
31 1,359 159
32 1,359 154
33 1,359 149
34 1,359 144
35 1,359 139
36 1,359 134
37 1,359 129
38 1,359 124
39 1,359 119
40 1,359 114
41 1,359 108
42 1,359 103
43 1,359 98
44 1,359 93
45 1,359 87
46 1,359 82
47 1,359 77
48 1,359 71
49 1,359 66
50 1,359 61
51 1,359 55
52 1,359 50
53 1,359 44
54 1,359 39
55 1,359 33
56 1,359 28
57 1,359 22
58 1,359 17
59 1,359 11
60 1,359 6
 72,000
60
5%
1,359

Principle
Reduction Principle
1,059 70,941
1,063 69,878
1,068 68,811
1,072 67,739
1,076 66,662
1,081 65,581
1,085 64,496
1,090 63,406
1,095 62,311
1,099 61,212
1,104 60,108
1,108 59,000
1,113 57,887
1,118 56,770
1,122 55,647
1,127 54,521
1,132 53,389
1,136 52,253
1,141 51,112
1,146 49,966
1,151 48,815
1,155 47,660
1,160 46,500
1,165 45,335
1,170 44,165
1,175 42,990
1,180 41,811
1,185 40,626
1,189 39,437
1,194 38,242
1,199 37,043
1,204 35,839
1,209 34,629
1,214 33,415
1,220 32,195
1,225 30,971
1,230 29,741
1,235 28,506
1,240 27,266
1,245 26,021
1,250 24,771
1,256 23,515
1,261 22,255
1,266 20,989
1,271 19,717
1,277 18,441
1,282 17,159
1,287 15,872
1,293 14,579
1,298 13,281
1,303 11,978
1,309 10,669
1,314 9,355
1,320 8,035
1,325 6,710
1,331 5,379
1,336 4,042
1,342 2,701
1,347 1,353
1,353 0
 Assets = Liabilities
225,374 = 78,832
General Journal 22
Date Accounts Debit (Credit) Accounts Trial Balance
2/28 Payroll Expenses 5,383 Checking 99,212
Payroll Liability (1,242) Accounts Receivable 10,449
Checking (4,141) Inventory Asset 1,713
Prepaid Insurance 11,000
Payroll Expenses 412 Short-Term Investments 0
Payroll Liability (412) Undeposited Funds (1)
Accumulated Depreciation 0
Furniture & Equipment 103,000
Accounts Payable (1,200)
Visa (1,000)
Interest Payable 0
Loan Payable - Current 0
Payroll Liability (1,654)
Sales Tax Payable (100)
Unearned Revenue 0
Loan Payable - Long Term (74,878)
Owners Draw 0
Owners Equity (144,175)
Merchandise Sales (2,000)
Rent Music Equipment 0
Service (9,300)
Cost of Goods Sold 1,600
Bank Service Charges 0
Depreciation Expense 0
Insurance Expense 0
Interest Expense 596
Internet Expense 180
Misc. Expense 0
Office Supplies 0
Payroll Expenses 5,795
Telephone Expense 365
Utilities 648
Interest Income (250)
Total Debits - Total (credits) 0
Net Income (2,367)
 Owner's
Liabilities + Equity
78,832 + 146,542
225,374
General Ledger General Ledger General Ledger General Ledg
Checking Accounts Receivable Prepaid Insurance
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 94,437 Beginning Balance 1,215 Beginning Balance 11,000
(1,359) 93,078 (250) 965 11,000
(1,359) 91,719 525 1,490 11,000
12,250 103,969 630 2,120 11,000
825 104,794 420 2,540
(168) 104,626 (300) 2,240 Short-Term Investments
1,641 106,267 (816) 1,424 Debit Credit Balance
(123) 106,144 (275) 1,149 Beginning Balance 12,000
(1,598) 104,546 950 2,099 (12,000) 0
(1,193) 103,353 950 3,049 0
(4,141) 99,212 1,900 4,949 0
99,212 1,050 5,999
99,212 900 6,899 Undeposited Funds
99,212 1,350 8,249 Debit Credit Balance
99,212 800 9,049 Beginning Balance 300
99,212 800 9,849 525 825
99,212 600 10,449 (825) (1)
99,212 10,449 250 250
99,212 10,449 300 550
99,212 10,449 816 1,366
99,212 10,449 275 1,641
99,212 (1,641) (1)
99,212 Inventory Asset (1)
99,212 Debit Credit Balance (1)
99,212 Beginning Balance 1,945 (1)
99,212 168 2,113 (1)
99,212 1,200 3,313
99,212 (400) 2,913 Accumulated Depreciation
99,212 (400) 2,513 Debit Credit Balance
99,212 (480) 2,033 Beginning Balance 0
99,212 (320) 1,713 0
1,713 0
1,713 0
1,713
1,713
edger General Ledger General Ledger General Ledger General Ledger General Ledger General L
Furniture & Equipment Loan Payable - Current Loan Payable - Long Term
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 98,000 Beginning Balance 0 Beginning Balance (72,000)
5,000 103,000 0 1,059 (70,941)
103,000 0 1,063 (69,878)
103,000 0 (5,000) (74,878)
0
Accounts Payable Owners Draw
Debit Credit Balance Payroll Liability Debit Credit Balance
Beginning Balance 0 Debit Credit Balance Beginning Balance 0
(168) (168) Beginning Balance (1,598) 0
(1,200) (1,368) 1,598 0
168 (1,200) (1,242) (1,242) Owners Equity
(365) (1,565) (412) (1,654) Debit Credit Balance
(180) (1,745) (1,654) Beginning Balance (144,175)
(648) (2,393) (1,654) (144,175)
1,193 (1,200) (144,175)
(1,200) Sales Tax Payable (144,175)
(1,200) Debit Credit Balance (144,175)
(1,200) Beginning Balance (123) (144,175)
(1,200) (25) (148)
(25) (173) Merchandise Sales
Visa (30) (203) Debit Credit Balance
Debit Credit Balance (20) (223) Beginning Balance (0)
Beginning Balance (1,000) 123 (100) (500) (500)
(1,000) (100) (500) (1,000)
(1,000) (100) (600) (1,600)
(400) (2,000)
Interest Payable Unearned Revenue (2,000)
Debit Credit Balance Debit Credit Balance (2,000)
Beginning Balance 0 Beginning Balance 0 (2,000)
0 0
0 0 Rent Music Equipment
0 Debit Credit Balance
0 Beginning Balance 0
0
Ledger General Ledger General Ledger General Ledger
Service Depreciation Expense Office Supplies
Debit Credit Balance Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0 Beginning Balance 0
(950) (950) 0 0
(950) (1,900) 0 0
(1,900) (3,800) 0 0
(1,050) (4,850)
(900) (5,750) Insurance Expense Payroll Expenses
(1,350) (7,100) Debit Credit Balance Debit Credit Balance
(800) (7,900) Beginning Balance 0 Beginning Balance 0
(800) (8,700) 0 5,383 5,383
(600) (9,300) 0 412 5,795
(9,300) 0 5,795
5,795
Cost of Goods Sold Interest Expense 5,795
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0 Telephone Expense
400 400 300 300 Debit Credit Balance
400 800 296 596 Beginning Balance 0
480 1,280 596 365 365
320 1,600 365
1,600 Internet Expense 365
1,600 Debit Credit Balance
1,600 Beginning Balance 0 Utilities
1,600 180 180 Debit Credit Balance
1,600 180 Beginning Balance 0
1,600 180 648 648
1,600 648
1,600 Misc. Expense 648
1,600 Debit Credit Balance
Beginning Balance 0 Interest Income
Bank Service Charges 0 Debit Credit Balance
Debit Credit Balance 0 Beginning Balance 0
Beginning Balance 0 0 (250) (250)
0 (250)
0 (250)
0
 Balance Sheet
Assets Liabilities
Current assets: Current Liabilities:
Cash 99,212 Accounts Payable 1,200
Accounts Receivable 10,449 Credit card 1,000
Inventory Asset 1,713 Interest Payable 0
Prepaid Insurance 11,000 Loan Payable - Current 0
Short-Term Investments 0 Payroll Liability 1,654
Undeposited Funds (1) Sales Tax Payable 100
Total current assets 122,374 Unearned Revenue 0
Property Plant & Equipment: Total Current Liabilities
Furniture & Equipment 103,000 Loan Payable - Long Term
Less: Accumulated Depreciation 0 Total Liabilities
Total Property Plant & Equipment 103,000 Equity:
Owners Equity

Total Assets 225,374 Total Liabilities & Equity

Income Statement
Revenue:
Merchandise Sales 2,000
Rent Music Equipment 0
Service 9,300
Total revenue 11,300
Cost of Goods Sold 1,600
Gross Profit 9,700
Expenses:
Bank Service Charges 0
Depreciation Expense 0
Insurance Expense 0
Interest Expense 596
Internet Expense 180
Misc. Expense 0
Office Supplies 0
Payroll Expenses 5,795
Telephone Expense 365
Utilities 648
Total expenses 7,584
Net Ordinary Income 2,117
Other Income/Expense:
 Interest Income 250
Net Income (Loss) 2,367

Statement of Owner's Equity

Beginning Owner's Equity 144,175
Owner Investment 0
Net Income (Loss) 2,367
Draws 0
Net increase 2,367
Ending Owner's Equity 146,542

Net Income (loss) 2,367

Draws 0
Net decrease 2,367
Ending Owner's Equity 146,542
 ELP Purchases Cost of Merchandise Sold
Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost

1-Jan
25-Jan 1 400 $400

25-Jan 1 400 $400

12-Feb 1 400 $400
14-Feb 3 400 $1,200
3,954 1 400 $400
74,878
78,832

146,542

225,374 ENLPBUNH3 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan ###
19-Feb 1 480 $480

ERP93 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan

GTPROBK1 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 328 $328

GUSAM2 Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 304 $304

WILDKAT Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
1-Jan
1 320 $320
20-Feb 1 320 $320

GSB Purchases Cost of Merchandise Sold

Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
25-Jan 1 598 $598
25-Jan 1 598 $598
SQ Purchases Cost of Merchandise Sold
Unit Total Unit Total
Date Quantity Cost Cost Quantity Cost Cost
14-Feb 1 168 $168

Total
 Inventory Accounts Receivable Subsidiary Ledger By Customer
Unit Total Anderson Guitars Jones Guitars
Quantity Cost Cost
Debit Credit Balance Debit Credit Balance
1 $400 $400 Beginning Balance 0 Beginning Balance 0
1 $400 $400 5,000 5,000 7,500 7,500
2 $400 $800 431 5,431 399 7,899
1 $400 $400 (5,000) 431 (7,500) 399
0 $400 $0 (431) 0 399
3 $400 $1,200 (250) (250) 399
2 $400 $800 525 275 399
(275) 0 399
0 399

Smith Guitars Job 3005 Jones

Debit Credit Balance Debit Credit Balance
Inventory Beginning Balance 0 Beginning Balance 0
Unit Total 8,000 8,000 0
Quantity Cost Cost (8,000) 0 0
1 $480 $480 420 420 0
0 $480 $0 0
Music Stuff Store Eric Misic
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
816 816 525 525
630 1,446 (525) 0
(816) 630 0
Inventory
Unit Total Sam The Guitar Man String Music
Quantity Cost Cost Debit Credit Balance Debit Credit Balance
1 $440 $440 Beginning Balance 0 Beginning Balance 0
0 (300) (300)
0 (300)
0 (300)

Job 4002 Sam The Guitar Man Star Lee

Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
Inventory 0 950 950
Unit Total 0 950
Quantity Cost Cost 0 950
1 $328 $328
0 $328 $0 Diana Martinez Lin Jackson
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
950 950 1,900 1,900
950 1,900
950 1,900

Jenny Jones Diana Miller

Debit Credit Balance Debit Credit Balance
Inventory Beginning Balance 0 Beginning Balance 0
Unit Total 1,050 1,050 900 900
Quantity Cost Cost 1,050 900
2 $304 $608 1,050 900
1 $304 $304
Jill Gonzalez Noah Davis
Debit Credit Balance Debit Credit Balance
Beginning Balance 0 Beginning Balance 0
1,350 1,350 800 800
1,350 800
1,350 800
Inventory
Unit Total Pam Smith Grace Mathew
Quantity Cost Cost Debit Credit Balance Debit Credit Balance
2 $320 $640 Beginning Balance 0 Beginning Balance 0
1 $320 $320 800 800 600 600
0 $320 $0 800 600
800 600

Total AR subsidiary ledger by customer 10,449

Inventory
Unit Total
Quantity Cost Cost
1 $598 $598
0 $598 $0
 Inventory
Unit Total
Quantity Cost Cost
1 $168 $168

$1,712
 Accounts Payable Subsidiary Ledger Payroll Register
Accounts Receivable Subsidiary Ledger balance (1,200)
Epiphone Fender Name Total
Debit Credit Balance Debit Credit Balance Earnings
Beginning Balance 0 Beginning Balance 0 Adam Hamulton 4,583
(15,000) (15,000) (168) (168) Erica 800
15,000 0 168 0 Total 5,383
(1,200) (1,200)
(1,200) Payroll Register
(1,200)
Name Total
Verizon Spectrum Earnings
Debit Credit Balance Debit Credit Balance Adam Hamulton 4,583
Beginning Balance 0 Beginning Balance 0 Erica 800
(365) (365) (180) (180) Total 5,383
365 0 180 0

Edison
Debit Credit Balance
Beginning Balance 0
(648) (648)
648 0
 Loan Amortization
01/01 01/31 Loan
Exployee Employer Monthly Payments
Social Income Net Social Rate
Secutity Medicare Tax Pay Secutity Medicare Payments
258 66 720 3,539 258 66
49 11 110 630 49 11 Payment Payment
307 77 830 4,169 307 77 Number Amount Interest
1 1,359 300
2/1 2/28 2 1,359 296
Exployee Employer 3 1,359 291
Social Income Net Social 4 1,359 287
Secutity Medicare Tax Pay Secutity Medicare 5 1,359 282
284 66 720 3,512 284 66 6 1,359 278
50 12 110 629 50 12 7 1,359 273
334 78 830 4,141 334 78 8 1,359 269
9 1,359 264
10 1,359 260
11 1,359 255
12 1,359 250
13 1,359 246
14 1,359 241
15 1,359 237
16 1,359 232
17 1,359 227
18 1,359 222
19 1,359 218
20 1,359 213
21 1,359 208
22 1,359 203
23 1,359 199
24 1,359 194
25 1,359 189
26 1,359 184
27 1,359 179
28 1,359 174
29 1,359 169
30 1,359 164
31 1,359 159
32 1,359 154
33 1,359 149
34 1,359 144
35 1,359 139
36 1,359 134
37 1,359 129
38 1,359 124
39 1,359 119
40 1,359 114
41 1,359 108
42 1,359 103
43 1,359 98
44 1,359 93
45 1,359 87
46 1,359 82
47 1,359 77
48 1,359 71
49 1,359 66
50 1,359 61
51 1,359 55
52 1,359 50
53 1,359 44
54 1,359 39
55 1,359 33
56 1,359 28
57 1,359 22
58 1,359 17
59 1,359 11
60 1,359 6
 72,000
60
5%
1,359

Principle
Reduction Principle
1,059 70,941
1,063 69,878
1,068 68,811
1,072 67,739
1,076 66,662
1,081 65,581
1,085 64,496
1,090 63,406
1,095 62,311
1,099 61,212
1,104 60,108
1,108 59,000
1,113 57,887
1,118 56,770
1,122 55,647
1,127 54,521
1,132 53,389
1,136 52,253
1,141 51,112
1,146 49,966
1,151 48,815
1,155 47,660
1,160 46,500
1,165 45,335
1,170 44,165
1,175 42,990
1,180 41,811
1,185 40,626
1,189 39,437
1,194 38,242
1,199 37,043
1,204 35,839
1,209 34,629
1,214 33,415
1,220 32,195
1,225 30,971
1,230 29,741
1,235 28,506
1,240 27,266
1,245 26,021
1,250 24,771
1,256 23,515
1,261 22,255
1,266 20,989
1,271 19,717
1,277 18,441
1,282 17,159
1,287 15,872
1,293 14,579
1,298 13,281
1,303 11,978
1,309 10,669
1,314 9,355
1,320 8,035
1,325 6,710
1,331 5,379
1,336 4,042
1,342 2,701
1,347 1,353
1,353 0