IMPARTIAL FULFILLMENT IN

PRINCIPLES OF
ACCOUNTING

ACCO-014
ILARDE, CHARLES EZRA S.
BSIT 1-2

Mr. Rogelio M. Valdezco Jr.

CPA, LPT, LCB
TABLE OF CONTENTS
-CASE 1 - SERVICE BUSINESS PROPOSAL PORTFOLIO
-CASE 2 - SERVICE BUSINESS PROPOSAL PORTFOLIO
-CHAPTER 7 - PAYROLL SAMPLE
-CHAPTER 7A- PAYROLL ACTIVITY
-CHAPTER 7A- AMENDED ACTIVITY - 2 PERIODS
-CHAPTER 11-S ACCOUNTING SYSTEM SETUP
-CHAPTER 11-A ACCOUNTING SYSTEM SETUP
-CHAPTER 6-S - FIXED ASSETS
-CHAPTER 3 - QUESTIONS
-CHAPTER 3-A PAYABLE SYSTEM
-CHAPTER 4-B RECEIVABLE SYSTEM
-CHAPTER 5 - TRADING BUSINESS ACCOUNTING
TRADING BUSINESS - ACCOUNTING PRINCIPLES
-CHAPTER 10 - DEPARTMENTALIZED ACCOUNTING
-APPENDIX CHAPTER - TRADING ACCOUNTING CYCLE
USING SPECIAL JOURNAL
-CHAPTER 8.A - BASIC EQUITY ACCOUNTING -
PARTNERSHIP
-CHAPTER 8.B - BASIC EQUITY ACCOUNTING -
CORPORATION
-CHAPTER 9 - FINANCIAL STATEMENT ANALYSIS
-LEARNING HIGHLIGHTS IN EACH ACTIVITY
-CLASSWORK MATRIX
-ATTENDANCE
CASE 1 - SERVICE BUSINESS PROPOSAL PORTFOLIO

Quicky Repair Shop

Chart of Accounts
As Of 05/31/22

Assets

101 Cash
102 Accounts Receivable
103 Repair Supplies
104 Repair Equipment

Liabilities

201 Accounts Payable

202 Withholding Tax Payable
203 SSS Contributions Payable
204 Philhealth Cont. Payable

Owner's Equity

301 M. Dy, Capital

302 M. Dy, Drawing

Revenue

401 Repair Fees Earned

Expenses

501 Salaries Expense

502 Rent Expense
503 Utilities Expense
504 Taxes & Licenses Expense
509 Miscellaneous Expense
 Quicky Repair Shop
General Journal
05/31/22
Date Refer. Acct. Title Debit Credit
05/02 101 Cash 100,000.00
05/02 301 M. Dy, Capital 100,000.00
05/02 504 Taxes & Licenses Expense 1,450.00
05/02 101 Cash 1,450.00
05/03 502 Rent Expense 4,000.00
05/03 101 Cash 4,000.00
05/04 104 Repair Equipment 35,000.00
05/04 101 Cash 15,000.00
05/04 201 Accounts Payable 20,000.00
05/05 103 Repair Supplies 3,700.00
05/05 101 Cash 3,700.00
05/06 101 Cash 25,000.00
05/06 401 Repair Fees Earned 25,000.00
05/09 102 Accounts Receivable 18,000.00
05/09 401 Repair Fees Earned 18,000.00
05/10 103 Repair Supplies 6,350.00
05/10 201 Accounts Payable 6,350.00
05/11 201 Accounts Payable 1,250.00
05/11 103 Repair Supplies 1,250.00
05/12 101 Cash 20,000.00
05/12 401 Repair Fees Earned 20,000.00
05/15 101 Cash 10,000.00
05/15 102 Accounts Receivable 10,000.00
05/15 501 Salaries Expense 18,500.00
05/15 101 Cash 18,500.00
05/20 302 M. Dy, Drawing 7,000.00
05/20 101 Cash 7,000.00
05/25 201 Accounts Payable 5,100.00
05/25 101 Cash 5,100.00
05/31 503 Utilities Expense 8,790.00
05/31 101 Cash 8,790.00
05/31 501 Salaries Expense 20,500.00
05/31 101 Cash 18,500.00
05/31 202 Withholding Tax Payable 1,200.00
05/31 203 SSS Contributions Payable 500
05/31 204 Philhealth Cont. Payable 300
Totals 284,640.00 284,640.00
 Quicky Repair Shop
Income Statement
For Period Ended 05/31/22

Monthly Monthly Yearly Yearly

Amount Percent Amount Percent
Operating Revenue
Repair Fees Earned 63,000.00 100 63,000.00 100
Total Operating Revenue 63,000.00 100 63,000.00 100
Operating Expenses
Salaries Expense 39,000.00 61.9 39,000.00 61.9
Rent Expense 4,000.00 6.35 4,000.00 6.35
Utilities Expense 8,790.00 13.95 8,790.00 13.95
Taxes & Licenses Expense 1,450.00 2.3 1,450.00 2.3
Total Operating Expenses 53,240.00 84.51 53,240.00 84.51
Net Income 9,760.00 15.49 9,760.00 15.49

Quicky Repair Shop

Statement of Owner's Equity
For Period Ended 05/31/22
M. Dy, Capital (Beg. of Period)
M. Dy, Drawing -7,000.00
Additional Investment 100,000.00
Net Income 9,760.00
M. Dy, Capital (End of Period) 102,760.00
LEARNING HIGHLIGHTS
CASE 2 - SERVICE BUSINESS PROPOSAL PORTFOLIO

Yellow Ribbon Company

Chart of Accounts
As Of 04/30/22

Assets

101 Cash
102 Accounts Receivable
103 Notes Receivable
104 Office Supplies
105 Office Equipment

Liabilities

201 Accounts Payable

Owner's Equity

301 Angel Reyes, Capital

302 Angel Reyes, Drawing

Revenue

401 Fees Earned

Expenses

501 Salaries Expense

502 Rent Expense
503 Advertising Expense
504 Utilities Expense
505 Repair Expense
509 Miscellaneous Expense
 Yellow Ribbon Company
General Journal
As Of 04/30/22

Date Refer. Acct. Title Debit Credit

04/01 502 Rent Expense 5,000.00
04/01 101 Cash 5,000.00
04/02 104 Office Supplies 2,400.00
04/02 101 Cash 2,400.00
04/05 105 Office Equipment 10,000.00
04/05 101 Cash 10,000.00
04/08 101 Cash 23,600.00
04/08 401 Fees Earned 23,600.00
04/09 503 Advertising Expense 1,200.00
04/09 101 Cash 1,200.00
04/12 101 Cash 100,000.00
04/12 301 Angel Reyes, Capital 100,000.00
04/15 101 Cash 7,500.00
04/15 102 Accounts Receivable 7,500.00
04/16 101 Cash 12,470.00
04/16 401 Fees Earned 12,470.00
04/19 201 Accounts Payable 7,000.00
04/19 101 Cash 7,000.00
04/20 104 Office Supplies 3,500.00
04/20 201 Accounts Payable 3,500.00
04/21 201 Accounts Payable 800
04/21 104 Office Supplies 800
04/23 302 Angel Reyes, Drawing 4,500.00
04/23 101 Cash 4,500.00
04/27 505 Repair Expense 650
04/27 101 Cash 650
04/29 504 Utilities Expense 3,750.00
04/29 101 Cash 3,750.00
04/30 501 Salaries Expense 12,000.00
04/30 101 Cash 12,000.00
04/30 103 Notes Receivable 10,000.00
04/30 401 Fees Earned 10,000.00
Totals 204,370.00 204,370.00
 Yellow Ribbon Company
Income Statement
For Period Ended 04/30/22

Monthly Monthly Yearly Yearly

Amount Percent Amount Percent
Operating Revenue
Fees Earned 46,070.00 100 46,070.00 100
Total Operating Revenue 46,070.00 100 46,070.00 100
Operating Expenses
Salaries Expense 12,000.00 26.05 12,000.00 26.05
Rent Expense 5,000.00 10.85 5,000.00 10.85
Advertising Expense 1,200.00 2.6 1,200.00 2.6
Utilities Expense 3,750.00 8.14 3,750.00 8.14
Repair Expense 650 1.41 650 1.41
Total Operating Expenses 22,600.00 49.06 22,600.00 49.06
Net Income 23,470.00 50.94 23,470.00 50.94

Yellow Ribbon Company

Balance Sheet
As Of 04/30/22

Assets
Cash 97,070.00
Accounts Receivable -7,500.00
Notes Receivable 10,000.00
Office Supplies 5,100.00
Office Equipment 10,000.00
Total Assets 114,670.00

Liabilities
Accounts Payable -4,300.00
Total Liabilities -4,300.00
Owner's Equity
Angel Reyes, Capital 100,000.00
Angel Reyes, Drawing -4,500.00
Net Income 23,470.00
Total Owner's Equity 118,970.00
Total Liabilities & Equity 114,670.00
 Yellow Ribbon Company
Statement of Owner's Equity
For Period Ended 04/30/22

Angel Reyes, Capital (Beg. of Period)

Angel Reyes, Drawing -4,500.00
Additional Investment 100,000.00
Net Income 23,470.00
Angel Reyes, Capital (End of Period) 118,970.00
LEARNING HIGHLIGHTS
CHAPTER 7 - PAYROLL SAMPLE
CHAPTER 7A- PAYROLL ACTIVITY
LEARNING HIGHLIGHTS
CHAPTER 7A- AMENDED ACTIVITY - 2 PERIODS
CHAPTER 11-S ACCOUNTING SYSTEM SETUP
 Martin Corporation

Chart of Accounts 3145 Income Summary

02/01/22

Revenue

Assets 4105 Sales

1105 Cash 4110 Sales Discount

1115 Accounts Receiveable 4115 Sales Ret. and Allow

1130 Merchandise Inventory

1135 Supplies Cost

1150 Prepaid Insurance 5110 Cost of Merchandise Sold

1520 Equipment - Office

1530 Accum. Dep. -- Off. Eq. Expenses

1560 Warehouse Equipment 6105 Advertising Expense

1565 Accum. Dep. -- Wrhs. Eq. 6120 Depr. Exp.-- Off. Eq.

6125 Depr. Exp.-- Wrhs. Eq.

Liabilities 6150 Insurance Expense

2105 Accounts Payable 6155 Miscellaneous Expense

2110 Salaries Payable 6170 Payroll Taxes Expense

2120 Emp. Inc. Tax Pay.--Fed. 6180 Rent Expense

2121 Emp. Inc. Tax Pay.--State 6195 Salary Exp.--Office

2122 Emp. Inc. Tax Pay.--City 6197 Salary Exp.--Wrhs.

2125 Soc. Sec. Tax Pay.--OASDI 6200 Supplies Expense

2126 Medicare Tax Payable

2130 Sales Tax Payable

2135 Unemp. Tax Pay.--Fed. Other Revenue

2140 Unemp. Tax Pay.--State 7110 Interest Income

2150 Health Ins. Prem. Pay.

2160 Union Dues Payable Other

Expense
2170 Savings Bonds Payable
8105 Interest Expense

Stockholders' Equity
Corporate Income Tax
3105 Capital Stock
9105 Corporate Income Tax
3120 Retained Earnings

3130 Cash Dividends

3135 Stock Dividends

 Martin Corporation

Vendor List Martin Corporation

02/01/22 Customer List

02/01/22

Vendor Name

Customer Name

Browne Insurance Agency

Elbert Manufacturing Beyer Rental Agency

Engle Power Tools C & S Industrial Tools

Fossen Industries, Inc. Dolson Tool & Di Co.

Landrum Tool Supply Millard Power Tools

Payroll Bank Account Sandstrom Hardware

Southwest Utilities Wetzel Tools, Inc.

Tilton Advertising Willmot Industries

Wellington Tool Corp.

Wingert Office Supplies

 Martin Corporation
Fixed Assets List
As Of 02/01/22

Date Depr. Useful Original Salvage Depr.

Asset Acquired Method Life Cost Cost Accts

110 Facsimile Machine 06/30/11 SL 5 365 50 1530

6120
120 File Cabinet 11/30/12 MACRS 7 625 75 1530
6120
130 Copy Machine 08/31/12 SL 5 2,650.00 250 1530
6120
140 Telephone System 05/31/11 DDB 5 10,000.00 500 1530
6120
210 Delivery Van 10/01/11 DDB 10 8,750.00 300 1565
6125
220 Computer System 07/12/12 SL 5 2,995.00 200 1565
6125
230 Shelving 01/01/13 SL 10 17,750.00 1,250.00 1565
6125
-----------
Total Fixed Assets 43,135.00
===========
 Martin Corporation
Employee List
As Of 02/01/22

Emp. Employee Soc. Sec./ # Pay G.L. Salary/

No. Name/Address Mar. Stat. Periods Acct. Rate

110 Bickett, John 567-94-8271 12 6195 4,550.00

1967 Sutter Ave. Married
Omaha, NE 68503-5010 W/H 3

120 Mendez, Bella 426-17-9947 12 6195 4,725.00

4950 Fieldstone Dr. Single
Omaha, NE 68507-6318 W/H 1

130 Powers, Dawn 698-45-2314 12 6197

85 Lakola CL Married 14.25
Omaha, NE 68519-9436 W/H 3

140 Tischer, Scott 445-13-1593 12 6197

6280 Kenyon Rd. Single 14.25
Omaha, NE 68511-8705 W/H 1

Martin Corporation
Payroll Report
As Of 02/01/22

Current Quarterly Yearly

110-Bickett, John Gross Pay 4,550.00 4,550.00 4,550.00

6195-Salary FIT 379.17 379.17 379.17
Married Acct. 6195 SIT 159.76 159.76 159.76
Soc. Sec.--
W/H 3 567-94-8271 OASDI 282.1 282.1 282.1
Pay Periods 12 Medicare--HI 65.98 65.98 65.98
Salary 4,550.00 CIT 91 91 91
Health
Hourly Rate Insurance 125 125 125
Reg. Hours Union Dues
O.T. Hours Saving Bonds 200 200 200
Check Number 4360 Employee SUTA
Check Date
01/31/22 Net Pay 3,246.99 3,246.99 3,246.99

120-Mendez, Bella Gross Pay 4,725.00 4,725.00 4,725.00

6195-Salary FIT 744.79 744.79 744.79
Single Acct. 6195 SIT 178.83 178.83 178.83
Soc. Sec.--
W/H 1 426-17-9947 OASDI 292.95 292.95 292.95
Pay Periods 12 Medicare--HI 68.51 68.51 68.51
Salary 4,725.00 CIT 94.5 94.5 94.5
 Health
Hourly Rate Insurance 85 85 85
Reg. Hours Union Dues
O.T. Hours Saving Bonds 100 100 100
Check Number 4361 Employee SUTA
Check Date
01/31/22 Net Pay 3,160.42 3,160.42 3,160.42

130-Powers, Dawn Gross Pay 2,561.44 2,561.44 2,561.44

6197-Salary FIT 98.23 98.23 98.23
Married Acct. 6197 SIT 64.22 64.22 64.22
Soc. Sec.--
W/H 3 698-45-2314 OASDI 158.81 158.81 158.81
Pay Periods 12 Medicare--HI 37.14 37.14 37.14
Salary CIT 51.23 51.23 51.23
Health
Hourly Rate 14.25 Insurance 125 125 125
Reg. Hours 176.00 Union Dues 10 10 10
O.T. Hours 2.50 Saving Bonds 50 50 50
Check Number 4362 Employee SUTA
Check Date
01/31/22 Net Pay 1,966.81 1,966.81 1,966.81

140-Tischer, Scott Gross Pay 2,508.00 2,508.00 2,508.00

6197-Salary FIT 265.16 265.16 265.16
Single Acct. 6197 SIT 70.38 70.38 70.38
Soc. Sec.--
W/H 1 445-13-1593 OASDI 155.5 155.5 155.5
Pay Periods 12 Medicare--HI 36.37 36.37 36.37
Salary CIT 50.16 50.16 50.16
Health
Hourly Rate 14.25 Insurance 85 85 85
Reg. Hours 176.00 Union Dues 10 10 10
O.T. Hours Saving Bonds 75 75 75
Check Number 4363 Employee SUTA
Check Date
01/31/22 Net Pay 1,760.43 1,760.43 1,760.43

Payroll Summary Gross Pay 14,344.44 14,344.44 14,344.44

FIT 1,487.35 1,487.35 1,487.35
SIT 473.19 473.19 473.19
Soc. Sec.--
OASDI 889.36 889.36 889.36
Medicare--HI 208 208 208
CIT 286.89 286.89 286.89
Health
Insurance 420 420 420
Union Dues 20 20 20
Saving Bonds 425 425 425
Employee SUTA
Net Pay 10,134.65 10,134.65 10,134.65
 Martin Corporation
Inventory List
As Of 02/01/22

Stock Unit On On Reorder Last Retail

No. Description Meas. Hand Order Point Cost Price

110 Air Hammer EA 2 2 6 535 895

120 Band Saw EA 19 0 10 22.25 39.95
130 Circular Saw EA 17 0 12 25 45.95
140 Cordless Drill EA 22 5 12 29.95 49.95
150 Industrial Stapler EA 17 0 15 25 41.25
160 Electric Drill EA 9 0 12 27 45.95
170 Nail Gun EA 6 3 6 39.5 69.95
180 Power Band Saw EA 2 0 5 295 499
190 Table Saw EA 6 0 5 426 729.99
Martin Corporation
Inventory Transactions
As Of 02/01/22

Inv./ Quantity Selling Quan. Quan. Cost

Date Description P.O. Sold Price Ord. Recd. Price

Sales Invoices
02-Jan Air Hammer 847 5 895
Cordless Drill 6 49.95
Industrial Stapler 4 41.25
Nail Gun 8 69.95
02-Jan Air Hammer 848 2 895
Industrial Stapler 15 41.25
Nail Gun 4 69.95
Table Saw 8 729.99
02-Jan Band Saw 849 4 39.95
Circular Saw 10 45.95
Cordless Drill 8 49.95
02-Jan Air Hammer 850 6 895
Nail Gun 4 69.95
Power Band Saw 7 499
Table Saw 8 729.99
02-Jan Band Saw 851 12 39.95
Circular Saw 15 45.95
 Cordless Drill 18 49.95
Electric Drill 9 45.95
02-Jan Band Saw 852 5 39.95
Circular Saw 8 45.95
Cordless Drill 6 49.95
Electric Drill 12 45.95
02-Jan Air Hammer 853 3 895
Electric Drill 5 45.95
Power Band Saw 7 499

Purchase Orders
02-Jan Air Hammer 371 20
02-Jan Band Saw 372 40
Circular Saw 50
Cordless Drill 65
02-Jan Industrial Stapler 373 36
Electric Drill 35
02-Jan Nail Gun 374 25
02-Jan Power Band Saw 375 16
Table Saw 22

Purchase Invoices
02-Jan Air Hammer 517 6 524
Air Hammer 12 535
02-Jan Band Saw 518 40 22.25
Circular Saw 25 27
Circular Saw 25 25
Cordless Drill 30 28.5
Cordless Drill 30 29.95
02-Jan Industrial Stapler 519 36 25
Electric Drill 35 27
02-Jan Nail Gun 520 12 41
Nail Gun 10 39.5
02-Jan Power Band Saw 521 8 290
Power Band Saw 8 295
Table Saw 10 439
Table Saw 12 426
--------- ------ -------
Totals 199 309 299

======= ===== =====

 Martin Corporation
Trial Balance
As Of 02/01/22

Acct. Account
Number Title Debit Credit
1105 Cash 23,543.47
1115 Accounts Receivable 42,757.11
1130 Merchandise Inventory 6,627.65
1135 Supplies 1,950.00
1150 Prepaid Insurance 1,345.00
1520 Equipment - Office 13,640.00
1530 Accum. Dep. -- Off. Eq. 2,897.65
1560 Warehouse Equipment 29,495.00
1565 Accum. Dep. -- Wrhs. Eq. 5,917.36
2105 Accounts Payable 30,421.50
2110 Salaries Payable 10,134.65
2120 Emp. Inc. Tax Pay.--Fed. 1,487.35
2121 Emp. Inc. Tax Pay.--State 473.19
2122 Emp. Inc. Tax Pay.--City 286.89
2125 Soc. Sec. Tax Pay.--OASDI 1,778.72
2126 Medicare Tax Payable 415.99
2130 Sales Tax Payable 2,420.22
2135 Unemp. Tax Pay.--Fed. 114.76
2140 Unemp. Tax Pay.--State 430.33
2150 Health Ins. Prem. Pay. 420
2160 Union Dues Payable 20
2170 Savings Bonds Payable 425
3105 Capital Stock 45,500.00
3120 Retained Earnings 15,658.46
4105 Sales 40,336.89
5110 Cost of Merchandise Sold 23,793.85
6170 Payroll Taxes Expense 1,642.44
6195 Salary Exp.--Office 9,275.00
6197 Salary Exp.--Wrhs. 5,069.44
-------------- --------------
Totals 159,138.96 159,138.96

========== ==========
Martin Corporation
Schedule of Accounts Payable
As Of 02/01/22

Name Balance

Elbert Manufacturing 9,564.00

Engle Power Tools 14,182.00
Fossen Industries, Inc. 1,845.00
Landrum Tool Supply 3,943.50
Wellington Tool Corp. 887
------------
Total 30,421.50
=========
 Martin Corporation
Schedule of Accounts Receivable
As Of 02/01/22

Name Balance

Beyer Rental Agency 5,829.26

C & S Industrial Tools 9,040.18
Dolson Tool & Di Co. 1,080.03
Millard Power Tools 15,881.68
Sandstrom Hardware 2,630.18
Wetzel Tools, Inc. 1,503.56
Willmot Industries 6,792.22
-----------
Total 42,757.11
========
LEARNING HIGHLIGHTS
 CHAPTER 11-A ACCOUNTING SYSTEM SETUP
Schaff Irrigation Co. 3110 Robert Schaff, Capital

Chart of Accounts 3120 Robert Schaff, Drawing

01/01/22 3135 Income Summary

Assets Revenue

1105 Cash 4105 Sales

1115 Accounts Receivable 4110 Sales Discount

1120 Allow. for Uncoll. Accts. 4115 Sales Ret. And Allow.

1130 Merchandise Inventory

1140 Supplies - Office Cost

1145 Supplies - Wrhs. 5110 Cost of Merchandise Sold

1150 Prepaid Insurance

1520 Equipment - Office Expenses

1530 Accum. Dep. - Off. Eq. 6105 Advertising Expense

1560 Warehouse Equipment 6130 Depr. Exp.--Off.Eq,

1565 Accum. Dep. - Wrhs. Eq. 6140 Depr. Exp.--Wrhs. Eq.

6150 Insurance Expense

Liabilities 6155 Miscellaneous Expense

2105 Accounts Payable 6170 Payroll Taxes Expense

2110 Salaries Payable 6180 Rent Expense

2120 Emp. Fed. Inc. Tax Pay. 6195 Salary Exp.--Office

2121 Emp. State Inc. Tax Pay. 6197 Salary Exp.--Wrhs.

2122 Emp. City Inc. Tax Pay. 6215 Telephone Expense

2125 Soc. Sec. Tax Pay.-OASDI 6225 Utilities Expense

2126 Medicare Tax Payable-HI

2130 Sales Tax Payable Schaff Irrigation Co.

2135 Unemp. Tax Pay.-Fed. Vendor List

2140 Unemp. Tax Pay.-State 01/01/22

2150 Health Ins. Prem. Pay.

2160 Dental Ins. Prem. Pay. Vendor Name

2170 Credit Union Deduct. Pay. Alpha Irrigation Co.

C-Tech Manufacturing Inc.

Owner's Deco Electronics

Equity
Reed Irrigation Systems
 Schaff Irrigation Co.

Customer List

01/01/22

Customer Name

Cardinal Sprinkler Inc.

Delta Irrigation

Green Landscape Co.

Maxx's Lawn Care

Rain Cloud Sprinkler Co.

Webb Lawn Sprinklers

Schaff Irrigation Co.

Fixed Assets List
As Of 01/01/22

Date Depr. Useful Original Salvage Depr.

Asset Acquired Method Life Cost Value Accts

110 Copy Machine 03/21/11 SL 6 3,000.00 220 1530

6130
120 Facsimile Machine 01/28/12 SL 5 875 75 1530
6130
130 File Cabinet 04/20/12 SL 10 760 50 1530
6130
140 Computer System 02/24/12 MACRS 5 2,500.00 250 1530
6130
210 Fork Lift 08/31/12 DDB 8 4,000.00 450 1565
6140
220 Shelving 09/30/12 DDB 10 4,200.00 400 1565
6140
230 Conveyor Belt 02/20/12 SL 10 9,895.00 750 1565
6140
-------------
Total Fixed Assets 25,230.00
========
 Schaff Irrigation Co.
Employee List
As Of 01/01/22

Emp. Employee Soc. Sec./ # Pay G.L. Salary/

No. Name/Address Mar. Stat. Periods Acct. Rate

435-24-
210 Abler, Lillian 5449 26 6195 2,450.00
4521 Monroe St. Married
Abilene, TX 79605-2100 W/H 3

767-33-
220 Boswell, Paul 8092 26 6197 2,200.00
1873 Campbell Ave. Single
Abilene, TX 79601-5816 W/H 1

587-45-
230 Linton, Thomas 4204 26 6197
109 Whiperwill Dr. Single 12.95
Abilene, TX 79601-5337 W/H 1

495-30-
240 Monson, Shirley 9083 26 6195
745 Stuart Ln. Married 12.75
Abilene, TX 79605-5450 W/H 2
Schaff Irrigation Co.
Inventory List
As Of 01/01/22

Stock Unit On On Reorder Last Retail

No. Description Meas. Hand Order Point Cost Price

1010 Reed Deluxe Heads EA 30 10 30 110 185

1020 Alpha S-10 Heads EA 83 0 50 39 60
1030 C-Tech Spr. Heads EA 54 0 30 80 124
1040 Reed Strip Spray EA 61 0 50 49 76
3010 Deco 32-S Control EA 27 0 25 237 400
3020 C-Tech Control System EA 31 0 18 135 230
3030 Deco Control Box EA 35 0 30 110 185
 Schaff Irrigation Co.
Inventory Transactions
As Of 01/01/22

Inv./ Quantity Selling Quan. Quan. Cost

Date Description P.O. Sold Price Ord. Recd. Price

Sales Invoices
01-Jan Reed Deluxe Heads 762 60 185
01-Jan Alpha S-10 Heads 763 167 60
01-Jan C-Tech Spr. Heads 764 146 124
01-Jan Reed Strip Spray 765 164 76
01-Jan Deco 32-S Control 766 53 400
01-Jan C-Tech Control System 767 29 230
01-Jan Deco Control Box 768 65 185

Purchase Orders
01-Jan Reed Deluxe Heads 235 100
01-Jan Alpha S-10 Heads 236 250
01-Jan C-Tech Spr. Heads 237 200
01-Jan Reed Strip Spray 238 225
01-Jan Deco 32-S Control 239 80
01-Jan C-Tech Control System 240 60
01-Jan Deco Control Box 241 100

Purchase Invoices
01-Jan Reed Deluxe Heads 421 45 100
Reed Deluxe Heads 45 110
01-Jan Alpha S-10 Heads 422 250 39
01-Jan C-Tech Spr. Heads 423 100 81.25
C-Tech Spr. Heads 100 80
01-Jan Reed Strip Spray 424 225 49
01-Jan Deco 32-S Control 425 35 228
Deco 32-S Control 45 237
01-Jan C-Tech Control System 426 60 135
01-Jan Deco Control Box 427 100 110
--------- ------- -------
Totals 684 1015 1005

======= ===== =====

 Schaff Irrigation Co.
Trial Balance
As Of 01/01/22

Acct. Account
Number Title Debit Credit

1105 Cash 11,875.00

1115 Accounts Receivable 97,077.98
1130 Merchandise Inventory 28,280.00
1140 Supplies - Office 2,425.00
1145 Supplies - Wrhs. 1,895.00
1150 Prepaid Insurance 3,200.00
1520 Equipment - Office 7,155.00
1530 Accum. Dep. - Off. Eq. 1,650.50
1560 Warehouse Equipment 18,075.00
1565 Accum. Dep. - Wrhs. Eq. 4,536.80
2105 Accounts Payable 84,095.00
2130 Sales Tax Payable 5,494.98
3110 Robert Schaff, Capital 38,437.70
4105 Sales 91,583.00
5110 Cost of Merchandise Sold 55,815.00
------------ ------------
Totals 225,797.98 225,797.98

========= =========

Schaff Irrigation Co.

Schaff Irrigation Co. Schedule of Accounts Receivable
Schedule of Accounts Payable As Of 01/01/22
As Of 01/01/22
Name Balance
Name Balance
Cardinal Sprinkler Inc. 31,936.74
Alpha Irrigation Co. 9,750.00 Delta Irrigation 10,621.20
C-Tech Manufacturing Green Landscape Co. 22,472.00
Inc. 24,225.00
Maxx's Lawn Care 11,766.00
Deco Electronics 29,645.00 Rain Cloud Sprinkler
Reed Irrigation Systems 20,475.00 Co. 13,211.84
------------ Webb Lawn Sprinklers 7,070.20
Total 84,095.00 ------------
Total 97,077.98
=========
=========
LEARNING HIGHLIGHTS
 CHAPTER 6-S - FIXED ASSETS

Savoy Merchandise Co.

General Journal
As Of 10/31/13

Date Refer. Acct. Title Debit Credit

10-Jan 211 1521 Accum. Depr. Office Eqpt. 760

10-Jan 211 1520 Office Equipment 760

10-Mar 3831 1510 Vehicles 17,250.00

10-Mar 3831 1110 Cash 17,250.00

10-Mar 3832 1520 Office Equipment 2,995.00

10-Mar 3832 1110 Cash 2,995.00

10-Sep 3833 1530 Office Furniture 2,360.00

10-Sep 3833 1110 Cash 2,360.00

Oct-14 3834 1530 Office Furniture 1,495.00

Oct-14 3834 1110 Cash 1,495.00

Oct-17 3835 1520 Office Equipment 4,185.00

Oct-17 3835 1110 Cash 4,185.00

Oct-17 3836 1520 Office Equipment 2,189.50

Oct-17 3836 1110 Cash 2,189.50

Oct-21 3837 1520 Office Equipment 3,899.00

Oct-21 3837 1110 Cash 3,899.00

Oct-27 3838 1530 Office Furniture 5,975.00

Oct-27 3838 1110 Cash 5,975.00
------------ -----------
Totals 41,108.50 41,108.50

======== ========
 Savoy Merchandise Co.
Fixed Assets List
As Of 10/31/13

Date Depr. Useful Original Salvage Depr.

Asset Acquired Method Life Cost Value Accts

110 Harada F80 Auto 05/17/13 MACRS 5 14,500.00 2,300.00 1511

6130
120 Veigel G350 Van 11/30/12 SL 5 18,000.00 1,500.00 1511
6130
130 Delivery truck 10/03/2013 SL 5 17,250.00 2,000.00 1511
6130
200 CP85 Ink Jet Printer 01/05/2007 SL 5 375 0 1521
6520
210 M3 Printing Press 02/28/13 SL 7 58,500.00 5,000.00 1521
6520
220 P500 Computer 07/18/13 DDB 5 2,450.00 300 1521
6520
230 HC10 Laser Printer 07/18/13 SL 5 1,650.00 175 1521
6520
240 Saga Notebook Comp 09/15/13 SL 4 2,295.00 250 1521
6520
250 Z10 Copy Machine 10/03/2013 DDB 5 2,995.00 335 1521
6520
260 File Server 10/17/13 DDB 5 4,185.00 500 1521
6520
270 GX10 Laser Printer 10/17/13 DDB 5 2,189.50 350 1521
6520
280 Alpha-5 Fax Machine 10/21/13 MACRS 5 3,899.00 400 1521
6520
310 Conf. Table & Chairs 01/31/13 MACRS 7 6,200.00 950 1531
6525
320 Receptionist Station 08/22/13 MACRS 7 2,195.00 350 1531
6525
330 Office Desk & Chair 06/16/13 SL 6 3,085.00 650 1531
6525
340 Storage Cabinet 10/09/2013 SL 10 2,360.00 225 1531
6525
350 Office Desk 10/14/13 SL 10 1,495.00 260 1531
6525
360 Security Vault 10/27/13 SL 20 5,975.00 450 1531
6525
-------------
Total Fixed Assets 149,598.50
=========
 Savoy Merchandise Co.
Depreciation Schedules
As Of 10/31/13

Annual Accum. Book

Year Deprec. Deprec. Value

(130) Delivery truck 2013 762.5 762.5 16,487.50

Acquired on 10/03/13 2014 3,050.00 3,812.50 13,437.50
Straight-Line 2015 3,050.00 6,862.50 10,387.50
Useful Life = 5 2016 3,050.00 9,912.50 7,337.50
Original Cost = 17,250.00 2017 3,050.00 12,962.50 4,287.50
Salvage Value = 2,000.00 2018 2,287.50 15,250.00 2,000.00

Savoy Merchandise Co.

Depreciation Schedules
As Of 10/31/13

Annual Accum. Book

Year Deprec. Deprec. Value

(250) Z10 Copy Machine 2013 299.5 299.5 2,695.50

Acquired on 10/03/13 2014 1,078.20 1,377.70 1,617.30
Double Declining-Balance 2015 646.92 2,024.62 970.38
Useful Life = 5 2016 388.15 2,412.77 582.23
Original Cost = 2,995.00 2017 232.89 2,645.66 349.34
Salvage Value = 335.00 2018 14.34 2,660.00 335

(260) File Server 2013 418.5 418.5 3,766.50

Acquired on 10/17/13 2014 1,506.60 1,925.10 2,259.90
Double Declining-Balance 2015 903.96 2,829.06 1,355.94
Useful Life = 5 2016 542.38 3,371.44 813.56
Original Cost = 4,185.00 2017 313.56 3,685.00 500
Salvage Value = 500.00

(270) GX10 Laser Printer 2013 218.95 218.95 1,970.55

Acquired on 10/17/13 2014 788.22 1,007.17 1,182.33
Double Declining-Balance 2015 472.93 1,480.10 709.4
Useful Life = 5 2016 283.76 1,763.86 425.64
Original Cost = 2,189.50 2017 75.64 1,839.50 350
Salvage Value = 350.00

(280) Alpha-5 Fax Machine 2013 779.8 779.8 3,119.20

Acquired on 10/21/13 2014 1,247.68 2,027.48 1,871.52
MACRS 2015 748.61 2,776.09 1,122.91
Useful Life = 5 2016 449.16 3,225.25 673.75
Original Cost = 3,899.00 2017 449.16 3,674.41 224.59
Salvage Value = 400.00 2018 224.59 3,899.00 0
 Savoy Merchandise Co.
Depreciation Schedules
As Of 10/31/13

Annual Accum. Book

Year Deprec. Deprec. Value

(340) Storage Cabinet 2013 53.38 53.38 2,306.62

Acquired on 10/09/13 2014 213.5 266.88 2,093.12
Straight-Line 2015 213.5 480.38 1,879.62
Useful Life = 10 2016 213.5 693.88 1,666.12
Original Cost = 2,360.00 2017 213.5 907.38 1,452.62
Salvage Value = 225.00 2018 213.5 1,120.88 1,239.12
2019 213.5 1,334.38 1,025.62
2020 213.5 1,547.88 812.12
2021 213.5 1,761.38 598.62
2022 213.5 1,974.88 385.12
2023 160.12 2,135.00 225

(350) Office Desk 2013 30.88 30.88 1,464.12

Acquired on 10/14/13 2014 123.5 154.38 1,340.62
Straight-Line 2015 123.5 277.88 1,217.12
Useful Life = 10 2016 123.5 401.38 1,093.62
Original Cost = 1,495.00 2017 123.5 524.88 970.12
Salvage Value = 260.00 2018 123.5 648.38 846.62
2019 123.5 771.88 723.12
2020 123.5 895.38 599.62
2021 123.5 1,018.88 476.12
2022 123.5 1,142.38 352.62
2023 92.62 1,235.00 260

(360) Security Vault 2013 69.06 69.06 5,905.94

Acquired on 10/27/13 2014 276.25 345.31 5,629.69
Straight-Line 2015 276.25 621.56 5,353.44
Useful Life = 20 2016 276.25 897.81 5,077.19
Original Cost = 5,975.00 2017 276.25 1,174.06 4,800.94
Salvage Value = 450.00 2018 276.25 1,450.31 4,524.69
2019 276.25 1,726.56 4,248.44
2020 276.25 2,002.81 3,972.19
2021 276.25 2,279.06 3,695.94
2022 276.25 2,555.31 3,419.69
2023 276.25 2,831.56 3,143.44
2024 276.25 3,107.81 2,867.19
2025 276.25 3,384.06 2,590.94
2026 276.25 3,660.31 2,314.69
2027 276.25 3,936.56 2,038.44
2028 276.25 4,212.81 1,762.19
2029 276.25 4,489.06 1,485.94
2030 276.25 4,765.31 1,209.69
2031 276.25 5,041.56 933.44
2032 276.25 5,317.81 657.19
2033 207.19 5,525.00 450
 Savoy Merchandise Co.
Trial Balance
As Of 10/28/13

Acct. Account
Number Title Debit Credit

1110 Cash 52,541.49

1120 Accounts Receivable 61,988.54
1130 Merchandise Inventory 133,300.00
1140 Prepaid Insurance 3,642.30
1150 Supplies 3,673.41
1510 Vehicles 49,750.00
1511 Accum. Depr. Vehicles 4,498.04
1520 Office Equipment 78,538.50
1521 Accum. Depr. Office Eqpt. 5,032.08
1530 Office Furniture 21,310.00
1531 Accum. Depr. Office Furn. 855.46
2110 Accounts Payable 46,736.17
2120 Sales Tax Payable 483.32
2510 Note Payable 30,309.00
3110 Emily Madigan, Capital 306,050.60
3120 Emily Madigan, Drawing 15,600.00
3130 Income Summary 4,093.20
4110 Sales 323,415.28
4111 Sales Returns & Allow. 5,728.43
4112 Sales Discounts 3,751.44
5110 Cost of Merchandise Sold 209,940.29
6110 Sales Salary Expense 20,580.78
6120 Advertising Expense 12,215.50
6125 Delivery Expense 385
6130 Depr. Expense Vehicles 6,372.15
6140 Supplies Expense 1,657.51
6150 Misc. Selling Expense 570
6510 Rent Expense 3,603.00
6520 Depr. Expense Off. Eqpt. 6,000.50
6525 Depr. Expense Off. Furn. 1,006.60
6530 Misc. General Expense 332.2
6540 Office Salary Expense 11,977.74
6550 Insurance Expense 332
6560 Telephone Expense 1,390.46
6570 Heating & Lighting Exp. 1,921.33
6580 Legal & Prof. Fees Exp. 3,925.00
7110 Interest Income 189.1
8110 Interest Expense 1,441.68
------------- -------------
Totals 717,569.05 717,569.05

========== ==========
 Savoy Merchandise Co.
General Journal
As Of 10/31/13

Date Refer. Acct. Title Debit Credit

Oct-
31 Adj. Ent 6550 Insurance Expense 340
Oct-
31 Adj. Ent 1140 Prepaid Insurance 340

Oct-
31 Adj. Ent 6140 Supplies Expense 793.41
Oct-
31 Adj. Ent 1150 Supplies 793.41

Oct-
31 Dep.Adj. 6130 Depr. Expense Vehicles 891.67
Oct-
31 Dep.Adj. 6520 Depr. Expense Off. Eqpt. 1,357.99
Oct-
31 Dep.Adj. 6525 Depr. Expense Off. Furn. 221.48
Oct-
31 Dep.Adj. 1511 Accum. Depr. Vehicles 891.67
Oct-
31 Dep.Adj. 1521 Accum. Depr. Office Eqpt. 1,357.99
Oct-
31 Dep.Adj. 1531 Accum. Depr. Office Furn. 221.48
----------- -----------
Totals 3,604.55 3,604.55

========= ========
 Savoy Merchandise Co.
Income Statement
For Period Ended 10/31/13

Monthly Monthly Yearly Yearly

Amount Percent Amount Percent

Operating Revenue

Sales 58,986.00 100.79 323,415.28 103.02

Sales Returns & Allow. -5,728.43 -1.82
Sales Discounts -460.1 -0.79 -3,751.44 -1.2
------------ ------------ ------------- ----------
Total Operating Revenue 58,525.90 100 313,935.41 100

Cost

Cost of Merchandise Sold 37,863.00 64.69 209,940.29 66.87

------------ ------------ ------------- ----------
Total Cost 37,863.00 64.69 209,940.29 66.87
------------ ------------ ------------- ----------
Gross Profit 20,662.90 35.31 103,995.12 33.13

Operating Expenses

Sales Salary Expense 3,760.00 6.42 20,580.78 6.56

Advertising Expense 1,620.00 2.77 12,215.50 3.89
Delivery Expense 185 0.32 385 0.12
Depr. Expense Vehicles 891.67 1.52 7,263.82 2.31
Supplies Expense 793.41 1.36 2,450.92 0.78
Misc. Selling Expense 90 0.15 570 0.18
------------ ------------ ------------- ----------
Total Selling Expenses 7,340.08 12.54 43,466.02 13.85

Rent Expense 930 1.59 3,603.00 1.15

Depr. Expense Off. Eqpt. 1,357.99 2.32 7,358.49 2.34
Depr. Expense Off. Furn. 221.48 0.38 1,228.08 0.39
Misc. General Expense 25 0.04 332.2 0.11
Office Salary Expense 2,915.00 4.98 11,977.74 3.82
Insurance Expense 340 0.58 672 0.21
Telephone Expense 496 0.85 1,390.46 0.44
Heating & Lighting Exp. 545 0.93 1,921.33 0.61
Legal & Prof. Fees Exp. 425 0.73 3,925.00 1.25
------------ ------------ ------------- ----------
Total Administrative
Expenses 7,255.47 12.4 32,408.30 10.32
------------ ------------ ------------- ----------
Total Operating Expenses 14,595.55 24.94 75,874.32 24.17
------------ ------------ ------------- ----------
Net Income from Operations 6,067.35 10.37 28,120.80 8.96

Other Revenue
Interest Income 86.5 0.15 189.1 0.06

Other Expense

Interest Expense 99.35 0.17 1,441.68 0.46

---------- ---------- ------------- ----------
Net Income 6,054.50 10.35 26,868.22 8.56

======== ======== ========== ========

Savoy Merchandise Co.

Statement of Owner's Equity
For Period Ended 10/31/13

Emily Madigan, Capital (Beg. of Period) 306,050.60

Emily Madigan, Drawing -15,600.00
Net Income 22,775.02
-------------
Emily Madigan, Capital (End of Period) 313,225.62
==========

Savoy Merchandise Co.

Balance Sheet
As Of 10/31/13

Assets

Cash 52,541.49
Accounts Receivable 61,988.54
Merchandise Inventory 133,300.00
Prepaid Insurance 3,302.30
Supplies 2,880.00
-------------
Total Current Assets 254,012.33

Vehicles 49,750.00
Accum. Depr. Vehicles -5,389.71
Office Equipment 78,538.50
Accum. Depr. Office Eqpt. -6,390.07
Office Furniture 21,310.00
Accum. Depr. Office Furn. -1,076.94
-------------
Total Plant Assets 136,741.78
-------------
Total Assets 390,754.11

==========
Liabilities

Accounts Payable 46,736.17

Sales Tax Payable 483.32
-------------
Total Current Liabilities 47,219.49

Note Payable 30,309.00

-------------
Total Long-Term Liabilities 30,309.00
-------------
Total Liabilities 77,528.49

Owner's Equity

Emily Madigan, Capital 306,050.60

Emily Madigan, Drawing -15,600.00
Net Income 22,775.02
-------------
Total Owner's Equity 313,225.62
-------------
Total Liabilities & Equity 390,754.11

==========
LEARNING HIGHLIGHTS
CHAPTER 3 – QUESTIONS
LEARNING HIGHLIGHTS
 CHAPTER 3-A PAYABLE SYSTEM
Hayes Appliances
Purchase Order Register
As Of 03/14/23

P.O. P.O. Vendor P.O.

Number Date Name Amount

505 03/08/2023 ICY Refrigeration Co. 3,375.00

506 03/08/2023 IDEAL Appliance Mfg. 2,440.00
507 03/10/2023 RKC Production, Inc. 1,350.00
508 03/13/2023 ICY Refrigeration Co. 4,275.00
Total Amount 11,440.00

Hayes Appliances
Purchase Invoice Register
As Of 03/14/23

Invoice Invoice Vendor Invoice

Number Date Name Amount

921 03/08/2023 SPOTLESS Mfg., Inc. 1,914.00

922 03/09/2023 MNT Refrigerators, Inc. 7,007.00
923 03/12/2023 RKC Production, Inc. 2,170.00
924 03/14/2023 MNT Refrigerators, Inc. 1,820.00
R919 03/11/2023 ICY Refrigeration Co. -237.95
Total Amount 12,673.05

Hayes Appliances
Inventory List
As Of 03/14/23

Stock Unit On On Reorder Last Retail

No. Description Meas. Hand Order Point Cost Price

1010 GC Washer EA 19 0 14 241 349.95

1020 SPOTLESS Washer EA 19 0 8 319 529.95
1040 Mini Washer & Dryer EA 19 0 10 540 798
2010 IDEAL Electric Dryer EA 24 0 12 220 359.95
2020 IDEAL Gas Dryer EA 9 8 10 305 429.95
2030 Mini Electric Dryer EA 11 3 8 225 379.95
3010 1 Door 18 CF. Refrig. EA 18 0 8 350 529.95
3020 1 Door 22 CF. Refrig. EA 17 0 10 426.3 699
3030 S by S 19 CF. Refrig. EA 15 0 6 530 789
3040 S by S 29 CF. Refrig. EA 11 0 6 1112.3 1879
3050 Top MNT 21 CF. Refrig. EA 17 0 10 455 699
3060 Top MNT 25 CF. Refrig. EA 14 0 6 510 859.95
3070 Mini FR. & Refrig. EA 14 0 8 237.95 349.95
3080 ICY 20 CF. Freezer EA 6 15 10 285 428
3090 Micro Refrig EA 0 15 10 380
4010 RKC Electric Range EA 21 0 8 216 349.99
4020 RKC Gas Range EA 14 0 6 310 435.95
4030 GC Electric Range EA 0 0 5 485.95
4040 GC Gas Range EA 0 0 5 547.35
5010 DELTA Dishwasher EA 15 0 10 350 549.95
5020 IDEAL Dishwasher EA 20 0 10 236.75 329.95
5030 Trash Compactor EA 13 3 6 233.9 389.95

Hayes Appliances
General Journal
As Of 03/14/23

Date Refer. Acct. Title Debit Credit

03-Nov R919 2110 AP/ICY Refrigeration Co. 237.95

03-Nov R919 1130 Merchandise Inventory 237.95
Totals 237.95 237.95

Hayes Appliances
Purchases Journal
As Of 03/14/23

Inv.
Date No. Acct. Title Debit Credit

03-Aug 921 1130 Merchandise Inventory 1,914.00

03-Aug 921 2110 AP/SPOTLESS Mfg., Inc. 1,914.00

03-Sep 922 1130 Merchandise Inventory 7,007.00

03-Sep 922 2110 AP/MNT Refrigerators, Inc. 7,007.00

03-Dec 923 1130 Merchandise Inventory 2,170.00

03-Dec 923 2110 AP/RKC Production, Inc. 2,170.00

Mar-14 924 1130 Merchandise Inventory 1,820.00

Mar-14 924 2110 AP/MNT Refrigerators, Inc. 1,820.00
Totals 12,911.00 12,911.00
 Hayes Appliances
Cash Payments Journal
As Of 03/14/23

Ck.
Date No. Acct. Title Debit Credit

03-Dec 4735 2110 AP/GC Manufacturing, Inc. 1,590.00

03-Dec 4735 1110 Cash 1,590.00

Mar-13 4736 2110 AP/IDEAL Appliance Mfg. 710.25

Mar-13 4736 1130 Merchandise Inventory 14.21
Mar-13 4736 1110 Cash 696.04

Mar-14 4737 2110 AP/SPOTLESS Mfg., Inc. 1,914.00

Mar-14 4737 1130 Merchandise Inventory 38.28
Mar-14 4737 1110 Cash 1,875.72
Totals 4,214.25 4,214.25

Hayes Appliances
General Ledger
As Of 03/14/23

Account Journal Date Refer. Debit Credit Balance

1130-Merchandise Inventory
Balance Forward 85,965.84 Dr
Purchases 03-Feb 916 2,160.00 88,125.84 Dr
Purchases 03-Mar 917 1,590.00 89,715.84 Dr
Purchases 03-May 918 1,750.00 91,465.84 Dr
General 03-Jun R917 530 90,935.84 Dr
Purchases 03-Jun 919 2,855.40 93,791.24 Dr
Cash Payments 03-Jun 4733 35 93,756.24 Dr
Purchases 03-Jul 920 710.25 94,466.49 Dr
Cash Payments 03-Jul 4734 57.1 94,409.39 Dr
Purchases 03-Aug 921 1,914.00 96,323.39 Dr
Purchases 03-Sep 922 7,007.00 103,330.39 Dr
General 03-Nov R919 237.95 103,092.44 Dr
Purchases 03-Dec 923 2,170.00 105,262.44 Dr
Cash Payments Mar-13 4736 14.21 105,248.23 Dr
Purchases Mar-14 924 1,820.00 107,068.23 Dr
Cash Payments Mar-14 4737 38.28 107,029.95 Dr
 Hayes Appliances
General Ledger
As Of 03/14/23

Account Journal Date Refer. Debit Credit Balance

2110-Accounts Payable
Balance Forward 24,240.00 Cr
Purchases 03-Feb 916 2,160.00 26,400.00 Cr
Purchases 03-Mar 917 1,590.00 27,990.00 Cr
Purchases 03-May 918 1,750.00 29,740.00 Cr
Cash Payments 03-May 4732 2,160.00 27,580.00 Cr
General 03-Jun R917 530 27,050.00 Cr
Purchases 03-Jun 919 2,855.40 29,905.40 Cr
Cash Payments 03-Jun 4733 1,750.00 28,155.40 Cr
Purchases 03-Jul 920 710.25 28,865.65 Cr
Cash Payments 03-Jul 4734 2,855.40 26,010.25 Cr
Purchases 03-Aug 921 1,914.00 27,924.25 Cr
Purchases 03-Sep 922 7,007.00 34,931.25 Cr
General 03-Nov R919 237.95 34,693.30 Cr
Purchases 03-Dec 923 2,170.00 36,863.30 Cr
Cash Payments 03-Dec 4735 1,590.00 35,273.30 Cr
Cash Payments Mar-13 4736 710.25 34,563.05 Cr
Purchases Mar-14 924 1,820.00 36,383.05 Cr
Cash Payments Mar-14 4737 1,914.00 34,469.05 Cr

Hayes Appliances
Schedule of Accounts Payable
As Of 03/14/23

Name Balance

DELTA Appliances, Inc. 3,995.00

GC Manufacturing, Inc. 3,640.65
ICY Refrigeration Co. 5,247.55
IDEAL Appliance Mfg. 3,475.00
MNT Refrigerators, Inc. 8,827.00
RKC Production, Inc. 4,405.85
SPOTLESS Mfg., Inc. 4,878.00
Total 34,469.05
 Hayes Appliances
Accounts Payable Ledger
As Of 03/14/23

Account Journal Date Refer. Debit Credit Balance

DELTA Appliances, Inc.

Balance Forward 3,995.00 Cr
Purchases 03-May 918 1,750.00 5,745.00 Cr
Cash Payments 03-Jun 4733 1,750.00 3,995.00 Cr

GC Manufacturing, Inc.
Balance Forward 4,170.65 Cr
Purchases 03-Mar 917 1,590.00 5,760.65 Cr
General 03-Jun R917 530 5,230.65 Cr
Cash Payments 03-Dec 4735 1,590.00 3,640.65 Cr

ICY Refrigeration Co.

Balance Forward 5,485.50 Cr
Purchases 03-Jun 919 2,855.40 8,340.90 Cr
Cash Payments 03-Jul 4734 2,855.40 5,485.50 Cr
General 03-Nov R919 237.95 5,247.55 Cr

IDEAL Appliance Mfg.

Balance Forward 3,475.00 Cr
Purchases 03-Jul 920 710.25 4,185.25 Cr
Cash Payments Mar-13 4736 710.25 3,475.00 Cr

MNT Refrigerators, Inc.

Purchases 03-Sep 922 7,007.00 7,007.00 Cr
Purchases Mar-14 924 1,820.00 8,827.00 Cr

RKC Production, Inc.

Balance Forward 2,235.85 Cr
Purchases 03-Feb 916 2,160.00 4,395.85 Cr
Cash Payments 03-May 4732 2,160.00 2,235.85 Cr
Purchases 03-Dec 923 2,170.00 4,405.85 Cr

SPOTLESS Mfg., Inc.

Balance Forward 4,878.00 Cr
Purchases 03-Aug 921 1,914.00 6,792.00 Cr
Cash Payments Mar-14 4737 1,914.00 4,878.00 Cr
 Hayes Appliances
Inventory Transactions
As Of 03/14/23

Inv./ Quantity Selling Quan. Quan. Cost

Date Description P.O. Sold Price Ord. Recd. Price

Purchase Orders
03-Aug Micro Refrig 505 15
03-Aug IDEAL Gas Dryer 506 8
03-Oct Trash Compactor 507 3
Mini Electric Dryer 3
Mar-13 ICY 20 CF. Freezer 508 15

Purchase
Invoices
03-Aug SPOTLESS Washer 921 6 319
03-Sep 1 Door 22 CF. Refrig. 922 6 426.3
S by S 29 CF. Refrig. 4 1,112.30
03-Dec RKC Gas Range 923 7 310
Mar-14 Top MNT 21 CF. Refrig. 924 4 455
03-Nov Mini FR. & Refrig. R919 -1 237.95
Totals 44 26

Hayes Appliances
Inventory Exceptions
As Of 03/14/23

Stock Unit On On Reorder

No. Description Meas Hand Order Point Exception

2020 IDEAL Gas Dryer EA 9 8 10 At/below reorder point

3080 ICY 20 CF. Freezer EA 6 15 10 At/below reorder point
3090 Micro Refrig EA 0 15 10 Out of stock
4030 GC Electric Range EA 0 5 Out of stock
4040 GC Gas Range EA 0 5 Out of stock
LEARNING HIGHLIGHTS
CHAPTER 4-B RECEIVABLE SYSTEM
s
Audit Questions 4-B
Name: ILARDE, CHARLES EZRA S.

Directions: Write the answers to the following questions in the space provided.
Note: All of the following questions relate to February 8-14.

Register Reports
1. What is the total amount of purchase orders for the period?
The total amount of purchase order is 4,320.00. This amount is the total value of the purchase orders
from February 8-14. The purchase order came from Nantz Vacuum Cleaner Co. which amounts to
1,440.00. And the other was from Alpha Vacuum Mfg., Inc. which amounts to 2,880.00.

2. What is the total amount of purchase invoices for the period?

The total amount of purchase invoice is 218.6. This amount is the total value of the purchase invoice
from February 8-14. The purchase invoice came from Handy Manufacturing Inc. which amounts to
96.3. And the other was from Royal Accessories Inc. which amounts to 122.3.

3. What is the total amount of sales for the period?

The total amount of Sales invoice is 4,247.87. This amount is the total value of the Sales Invoice from
February 8-14. The Sales Invoice came from Wingler Motel which amounts to 1,526.00. The second
was from Fraze Department Stores which amounts to 1,314.30. The third was from Robert Thorson
which amounts to 219.00. The fourth was from Jennifer Martens which amounts to 442.09. The fifth
was from Broderick Company which amounts to 131.6. The sixth was from Lily Industries, Inc. which
amounts to 554. The seventh was from Matthew Cornish which amounts to 555.88. And the last
transaction came from Wingler motel which is a refund that amounts to -485.

Journal and Ledger Reports

4.What are the total debits and credits shown on the purchases journal?
The total debit and credit of purchases journal is 218.6. This amount is the total value of the
purchases from February 8-14. The purchases came from Handy Manufacturing Inc. which amounts
to 96.3. And the other was from Royal Accessories Inc. which amounts to 122.3.

5. What are the total debits and credits shown on the cash payments journal?
The total debit and credit of cash payments journal is 3472.25. This amount is the total value of the
payment transactions from February 8-14. The transactions came from AP/Nantz Vacuum Cleaner
Co. which amounts to 157.5. And the other was from AP/Alpha Vacuum Mfg., Inc. which amounts to
3,314.75.
6. What are the total debits and credits shown on the sales journal?
The total debit and credit of Sales journal is 8,066.57. This amount is the total value of the Sales
made by the company from February 8-14. The sales came from AR/Wingler Motel which amounts to
1,632.82. The next one was from AR/Fraze Department Stores which amounts to 1,406.30. Next is
from AR/Jennifer Martens which amounts to 473.04. Next is from AR/Broderick Company which
amounts to 140.81. Next is from AR/Lilly Industries, Inc. which amounts to 582.08. And the last sales
came from AR/Matthew Cornish which amounts to 594.79.

7. What are the total debits and credits shown on the cash receipts journal?
The total debit and credit of cash receipts journal is 2333.72. This amount is the total value of the
Transaction receipts from February 8-14. The transactions came from AP/Bassett Cleaning, Inc. which
amounts to 890.95. The next was from AR/Robert Thorson which amounts to 347.75. And the last
transaction was from AR/Broderick Company which amounts to 1,055.30.

9. What is the account balance of the following accounts as of February 14?

The Balances of the ledger for Sales, Sales Returns and Allowances and Sales discounts are the
following. The balance of Sales amounts to 39,299.70. The Balance of Sales Returns and Allowances
amounts to 508.7. And the balance for Sales discounts amounts to 148.33.

10. From the trial balance, what is the net amount of sales (Sales minus Sales Returns & Allow.)? Does it
equal the total amount of yearly sales shown on the inventory Yearly Sales report?
The total amount of Sales minus the Sales Returns and Allowances was 38,791.00. The original
amount of sales was 39,299.70. But it is subtracted by Sales returns and allowances which amounts to
508.7. The amount is equal to the total amount of yearly sales on the Yearly sales report which is
38,791.00.

11. From the schedule of accounts receivable, what is the total due from all customers as of February
14? Does it equal the current balance in the Accounts Receivable account?
The total due of accounts receivable is 31,541.53. This is the total amount from the customers that
still have a liability from the company. The current balance of the schedule of accounts receivable and
the general ledger for the account of accounts receivable is equal. The amount is 31,541.53.

12. From the statement of account for Wingler Motel, what is the current account balance?
The current account balance of Wingler Motel in the Statement of account amounts to 2,202.49.
This amount is the total of the transaction that Wingler motel made from the company. The Wingler
motel have a balance forward which amounts to 3,703.19. And he had a payment transaction and two
invoice transaction.

Inventory Reports and Graph:

13. How many items were sold during the period?
The total items sold during the period was 57 items total. The item that is sold the most was the
Upright cleaner bag on February 9. And the items that is sold the least was Steam cleaner, Nantz
Canister Vacuum. There is also an Item that is returned to the company which is Handy Upright Vacuum.

14. Which item has the greatest sales volume based on the dollar amount?
The item that has the greatest sales volume based on the dollar amount was Kenwood Vanister Vac.
Because the selling price for each unit was 689.95. And the number of units sold within the period was
2. Which amounts to 1,379.9.

15. What is the total amount of yearly sales?

The total amount of yearly sales is 38,791.00. This is the total amount of sales that came from the
products that the company sold within the period. And the total of products that the company sold
within the period was 287 units. The number of types of products that is available was 16.
16. From the graph, what customer has greatest amount of sales to date?
The customer that has the greatest number of sales to date was the Lilly Industries, Inc., which
amounts to 10,000.00. The customers that followed the Lilly industries was, Bassett Cleaning, Inc. which
is close to the amount of Lilly industries. And the last 2 customers that has the least sales was Wingler
Motel which amounts to 6,250. And the bottom of the top five was Fraze Department Stors which
amounts to 3,000.
LEARNING HIGHLIGHTS
CHAPTER 5 - TRADING BUSINESS ACCOUNTING
Audit Questions 5-A
Name: Ilarde, Charles Ezra S.
Directions: Write the answers to the following questions in the space provided.

Register Reports

1. What is the total amount of purchase orders for the period?

The total amount of purchase order register for the period is 1,237.50. There’s only
one transaction that is recorded for the period of April. It is recorded in April 15. And
amounts to 1,237.50.

2. What is the total amount of purchase invoices for the period?

The total amount of purchase invoice register for the period is 3,362.00. There’re
only two transactions that is recorded for the period of April. It is recorded in April 21
and 23. And it amounts to 312 and 3,050.00 respectively.

3. What is the total amount of sales invoices for the period?

The total amount of Sales Invoice register for the period is 23,208.60. And the total
amount of sales tax is for the sales invoice is 1,624.61. There’re nine transactions in
total for the sales invoice register for the period of April. And there is one return
transaction.

Journal and Ledger Reports

4. What are the total debits and total credits shown on the Purchases Journal report?
The total amount of purchases journal in debit and credit amounts to 3,362.00. There
are two transactions recorded for the period of April. It is recorded at the 21 st and 23rd
of April. Which amounts to 312 and 3,050.00 respectively.

5. What are the total debits and total credits shown on the Cash Payments Journal
report?
The total amount of purchases journal in debit and credit amounts to 3,362.00. There
are two transactions recorded for the period of April. It is recorded at the 21 st and 23rd
of April. Which amounts to 312 and 3,050.00 respectively.

6. What are the total debits and total credits shown on the Sales Journal report?
 The total amount of purchases journal in debit and credit amounts to 37,976.59.
There are six transactions recorded for the period of April. It is recorded at the 2nd, 5th,
8th, 13th, 18th, 20th, 28th, and 30th of April.

7. What are the total debits and total credits on the Cash Receipts Journal report?
The total amount of purchases journal in debit and credit amounts to 20,028.42.
There are five transactions recorded for the period of April. The transactions are
recorded at the 1st, 3rd, 10th, 17th, and 29th of April
.
8. From the schedule of accounts payable, what is the total amount owed to all
vendors?
The total amount of Schedule of Accounts Payable amounts to 8,742.50. The total
amount of the report came from the vendors that the owner owed during April. The
vendors are AMS Paper Depot, Cody Industries Inc., Nozaki Corporation, Starr
Enterprises and Tokuda Corporation. Which amounts to 8,742.50

9. From the schedule of accounts receivable, what is the total amount owed to Copier
Solutions?
The total amount that the other companies that owed Copier Solutions is 45,486.03.
There are a total of 9 companies that owed the Copier solutions. They owed the
company from the transactions that are made at the period of April.

10.From the statement of account for J & M Construction Co., what is the
current account balance?
The current balance of statement of account for J & M Construction Co. amounts to
2,332.28. This amount came from the balance forward at the first of April which
amounts to 2,177.56. Which is deducted by the credit memo and added by the invoice.
The transactions recorded for the company are recorded at the period of April.

Inventory Reports

11. How many items were sold during the month?

There are a total of 61 items sold by the Copier solutions at the month of April.
Which is sold from 2nd, 5th, 8th, 13th, 18th, 20th, 28th, and 30th of April. The data came from
the inventory transactions of the company. Which also came from the data inputted for
the purchase orders for the month of April.

12. What is the total amount of yearly sales?

The total amount of yearly sales is 185,517.80. And the corresponding number of
Items sold for the yearly amount is 615 Items a year. And the most expensive item
recorded is the All-pro Business Copier. While the cheapest item was Copier 12 oz.
Toner.

Financial Statements

13. From the income statement, what is the monthly cost of merchandise sold?
The monthly amount for the cost of merchandise sold amounts to 13,045.67. This
amount came from the sales invoice that is recorded throughout the month of April
and is deducted by the taxes and refunds throughout the month of April.
14. From the statement of owner's equity, what is Susan Taylor's capital at the end of
the month?
The total amount of Statement of owner’s equity amounts to 140,591.34. This amount
came from Susan’s Capital at the start of the period, which amounts to 93,467.03. And
is deducted by the withdrawals that amounts to 6,700.00. and added by the additional
investment and net income.

15. From the balance sheet, what are the total assets?
The total assets of Balance sheet amounts to 165,162.61. This amount came from the
cash account that is used and recorded throughout the period of April. It also consists
of the base assets where the cash is and the Plant assets that the company used as
equipment and supplies at the period of April.

16. From the balance sheet, what are the total liabilities?
The total Liabilities of the Balance sheet amounts to 24,571.27. This amount consists
of the base liabilities where accounts, sales tax and salaries payable are located. And
the other is long-term liabilities which consists of notes payable. And the sum of the
two is the total amount of liabilities at the end of the month of April.

Budget Report and Retirement Planner

17. How much under budget is operating revenue at this point in the fiscal year?
The amount for the operating revenue is estimated to be 585,000.00 at this point in
the fiscal year. But the actual operating revenue value totals to only 183,423.06. Which
is 401,576.94 lesser from the expected amount at this point in the fiscal year.

18. How much under budget is the total operating expenses at this point in the fiscal
year?
The amount for the operating expenses is estimated to be 123,750.00 at this point in
the fiscal year. But the actual operating expense value totals to only 34,896.65. Which
is 88,853.35 lesser from the expected amount at this point in the fiscal year.

19. How much under budget is the net income at this point in the fiscal year?
The amount for the net income is estimated to be 113,450.00 at this point in the fiscal
year. But the actual net income value totals to only 43,824.31. Which is 69,625.69 lesser
from the expected amount at this point in the fiscal year.
LEARNING HIGHLIGHTS
TRADING BUSINESS - ACCOUNTING PRINCIPLES
LEARNING HIGHLIGHTS
CHAPTER 10 - DEPARTMENTALIZED ACCOUNTING
LEARNING HIGHLIGHTS
 APPENDIX CHAPTER - TRADING ACCOUNTING CYCLE
USING SPECIAL JOURNAL
Redlin Wholesale Co. Redlin Wholesale Co.
Chart of Accounts Vendor List
05/31/23 05/31/23
Assets Vendor Name
1110 Cash Albright Company
1120 Accounts Receivable Bresnan Mfg., Inc.
1130 Merchandise Inventory Finch Corporation
1140 Prepaid Insurance Geppert Supply Corp.
1150 Supplies Hinkley, Inc.
1510 Warehouse Equipment Huntley Corporation
1511 Accum. Depr. Wrhse. Eqpt. Kenward, Inc.
1520 Office Equipment Lindemann Company
1521 Accum. Depr. Office Eqpt. Schemmel Publications
Liabilities
2110 Accounts Payable
2120 Sales Tax Payable
2130 Salaries Payable
2510 Note Payable
Owner's Equity
3110 Linda Redlin, Capital
3120 Linda Redlin, Drawing
3130 Income Summary
Revenue
4110 Sales
4111 Sales Returns & Allow.
4112 Sales Discounts
Cost
5110 Cost of Merchandise Sold
Expenses
6110 Sales Salary Expense
6120 Advertising Expense
6125 Delivery Expense
6130 Depr. Exp. Wrhse. Eqpt.
6140 Supplies Expense
6150 Misc. Selling Expense
6510 Rent Expense
6520 Depr. Expense Off. Eqpt.
6530 Misc. General Expense
6540 Office Salary Expense
6550 Insurance Expense
6560 Telephone Expense
6570 Heating & Lighting Exp.
6580 Legal & Prof. Fees Exp.
Other Revenue
7110 Interest Income
Other Expense
8110 Interest Expense
LEARNING HIGHLIGHTS
CHAPTER 8.A - BASIC EQUITY ACCOUNTING –
PARTNERSHIP
LEARNING HIGHLIGHTS
CHAPTER 8.B - BASIC EQUITY ACCOUNTING –
CORPORATION
LEARNING HIGHLIGHTS
CHAPTER 9 - FINANCIAL STATEMENT ANALYSIS
LEARNING HIGHLIGHTS