This chart of accounts should help you identify

the appropriate accounts to record to as you are

analyzing and journaling transactions for this
workbook. There is nothing to complete on this
page; this is simply a resource for you.

Asset Accounts Liability Accounts

Acct #
Cash 101 Notes Payable
Baking Supplies 102 Accounts Payable
Prepaid Rent 103 Wages Payable
Prepaid Insurance 104 Interest Payable
Baking Equipment 105
Office Supplies 106
Accounts Receivable 107
Accumulated Depreciation 108
Merchandise Inventory 109
 Equity Accounts
Acct # Acct #
201 Common Stock 301
202 Dividends 302
203 Cost of Goods Sold 303
204

Revenue Accounts
Acct #
Bakery Sales 401
Merchandise Sales 402

Expense Accounts
Acct #
Baking Supplies Expense 501
Rent Expense 502
Insurance Expense 503
Misc. Expense 504
Business License Expense 505
Advertising Expense 506
Wages Expense 507
Telephone Expense 508
Interest Expense 509
Depreciation Expense 510
Office Supplies Expense 511
 A Company
General Journal Entries
October, 20xx

Date Accounts Debit Credit

1-Oct Cash 25,000.00
Common Stock 25,000.00

1-Oct Baking Supplies 8,500.00

Accounts Payable 8,500.00

3-Oct Cash 10,000.00

Notes Payable 10,000.00

7-Oct Rent Expense 1,500.00

Prepaid Rent 1,500.00
Cash 3,000.00

10-Oct Business License Expense 375.00

Cash 375.00

11-Oct Misc. Expense 250.00

Cash 250.00

13-Oct Baking Equipment 5,000.00

Common Stock 5,000.00

13-Oct Advertising Expense 200.00

Cash 200.00

14-Oct Office Supplies 300.00

Cash 300.00

30-Oct Telephone Expense 75.00

Accounts Payable 75.00

31-Oct Prepaid Insurance 1,200.00

Cash 1,200.00

31-Oct Wages Expense 120.00

Wages Payable 120.00
31-Oct Cash 10,000.00
Accounts Receivable 5,000.00
Merchandise Sales 15,000.00

Total 69,020.00 69,020.00

 A Company
General Journal Entries
November, 20xx

Date Accounts Debit Credit

5-Nov Wages Payable 120.00
Cash 120.00

8-Nov Cash 3,800.00

Accounts Receivable 3,800.00

10-Nov Accounts Payable 75.00

Cash 75.00

15-Nov Baking Supplies 5,000.00

Accounts Payable 5,000.00

15-Nov Wages Expense 480.00

Wages Payable 480.00

15-Nov Rent Expense 1,500.00

Cash 1,500.00

18-Nov Cash 1,000.00

Accounts Receivable 1,000.00

20-Nov Accounts Payable 8,500.00

Cash 8,500.00

20-Nov Wages Payable 480.00

Cash 480.00

22-Nov Office Supplies 300.00

Cash 300.00

30-Nov Telephone Expense 75.00

Accounts Payable 75.00

30-Nov Wages Expense 420.00

Wages Payable 420.00
30-Nov Cash 12,500.00
Accounts Receivable 7,500.00
Bakery Sales 20,000.00

Total 41,750.00 41,750.00

 A Company
General Journal Entries
December, 20xx

Date Accounts Debit Credit

1-Dec Dividends 10,000.00
Cash 10,000.00

5-Dec Wages Payable 420.00

Cash 420.00

7-Dec Merchandise Inventory 60.00

Cash 60.00

8-Dec Cash 4,000.00

Accounts Receivable 4,000.00

10-Dec Accounts Payable 75.00

Cash 75.00

11-Dec Baking Supplies 7,000.00

Accounts Payable 7,000.00

13-Dec Accounts Payable 5,000.00

Cash 5,000.00

15-Dec Wages Expense 456.00

Wages Payable 456.00

15-Dec Rent Expense 1,500.00

Cash 1,500.00

15-Dec Cash 68.00

Merchandise Sales 68.00

15-Dec Cost of Goods Sold 48.00

Merchandise Inventory 48.00

20-Dec Wages Payable 456.00

Cash 456.00
20-Dec Merchandise Inventory 122.00
Cash 122.00

24-Dec Cash 153.00

Merchandise Sales 153.00

24-Dec Cost of Goods Sold 109.60

Merchandise Inventory 109.60

30-Dec Merchandise Inventory 151.25

Cash 151.25

31-Dec Wages Expense 480.00

Wages Payable 480.00

31-Dec Cash 19,000.00

Accounts Receivable 6,000.00
Bakery Sales 25,000.00

Total 55,098.85 55,098.85

date Cash date date Notes Payable date
1-Oct 25,000.00 10,000.00 3-Oct
3-Oct 10,000.00
3,000.00 7-Oct
375.00 10-Oct
250.00 11-Oct
200.00 13-Oct
300.00 14-Oct
1,200.00 31-Oct
31-Oct 10,000.00
120.00 5-Nov
8-Nov 3,800.00
75.00 10-Nov
18-Nov 1,000.00
1,500.00 15-Nov
8,500.00 20-Nov Accounts Rec.
480.00 20-Nov 31-Oct 5,000.00
300.00 22-Nov 3,800.00 8-Nov
30-Nov 12,500.00 1,000.00 18-Nov
10,000.00 1-Dec 30-Nov 7,500.00
420.00 5-Dec 4,000.00 8-Dec
60.00 7-Dec 31-Dec 6,000.00
8-Dec 4,000.00
75.00 10-Dec 18500 8800
5,000.00 13-Dec 9700
1,500.00 15-Dec
15-Dec 68.00
456.00 20-Dec

122.00 20-Dec
24-Dec 153.00
151.25 30-Dec
31-Dec 19,000.00
85,521.00 34,084.25
51,436.75

Misc. expense Baking equipment

11-Oct 250.00 13-Oct 5,000.00
 Baking supplies Office supplies
1-Oct 8,500.00 14-Oct 300.00
15-Nov 5,000 22-Nov 300
11-Dec 7,000

20,500.00 600.00

Prepaid rent Prepaid insurance

7-Oct 1,500 31-Oct 1,200

Accounts payable Salary and wages expense

8,500.00 1-Oct 31-Oct 120
75.00 31-Oct 15-Nov 480
10-Nov 75 30-Nov 420
5,000.00 15-Nov 15-Dec 456
20-Nov 8,500 31-Dec 480
75.00 30-Nov
10-Dec 75 1,956
7,000.00 11-Dec
13-Dec 5,000
13,650 20,650
7,000
Telephone expense
30-Oct 75
30-Nov 75

150 Dividends
1-Dec 10,000

10,000
Merchandise
Sales
Revenue
68.00 15-Dec
153.00 24-Dec

221.00
 Business License exp Common Stock
10-Oct 375.00 25,000 1-Oct
5,000 13-Oct

30,000

Insurance expense

Advertising expense
13-Oct 200.00
 Rent expense
7-Oct 1,500
15-Nov 1,500
15-Dec 1,500

4,500

Bakery Sales
15,000 31-Oct
20,000 30-Nov
25,000 31-Dec
60,000

Salaries and wages payable

120 31-Oct
5-Nov 120
480 15-Nov
20-Nov 480
420 30-Nov
5-Dec 420
456.00 15-Dec
20-Dec 456
480.00 31-Dec

1,476 1,956.00
480.00
 COGS
15-Dec 48.00
24-Dec 109.60

157.60

Merch. Inv. FIFO

7-Dec 60.00
48.00 15-Dec
20-Dec 122.00
109.60 24-Dec
30-Dec 151.25
333.25 157.60
175.65
FIFO
Purchases Sales Ending Inventory
No. of No. of No. of
Date Items Unit Price Total Price Items Unit Price Total Price Items Unit Price
7-Dec 10 $ 6.00 $ 60.00 10 $ 6.00

15-Dec 8 $ 6.00 $ 48.00 2 $ 6.00

20-Dec 20 $ 6.10 $ 122.00 2 $ 6.00

20 $ 6.10
22

24-Dec 2 $ 6.00 $ 12.00

16 $ 6.10 $ 97.60 4 $ 6.10
18 $ 109.60

30-Dec 25 $ 6.05 $ 151.25 4 $ 6.10

25 $ 6.05
29

Net
Inventory 55 $ 333.25 26 $ 157.60 29
Ending Inventory

Total Price Date Dr Cr

$ 60.00 7-Dec Merchandise Inventory (10 x $6) 60.00
Cash 60.00
$ 12.00 Purchased inventory

$ 12.00 15-Dec Cash (8 x $8.50) 68.00

$ 122.00 Merchandise Sales Revenue 68.00
$ 134.00 Record sale of inventory

15-Dec Cost of Goods Sold (8 X $6) 48.00

$ 24.40 Merchandise Inventory 48.00
Recorded the cost of goods sold

$ 24.40 20-Dec Merchandise Inventory (20 x $6.10 ) 122.00

$ 151.25 Cash 122.00
$ 175.65

$ 175.65 24-Dec Cash (18 x 8.50) 153.00

Merchandise Sales Revenue 153.00
Record sale of inventory

24-Dec Cost of Goods Sold (2 x $6)+(16 x $6.10) 109.60

Merchandise Inventory 109.60
Recorded the cost of goods sold

30-Dec Merchandise Inventory (25 x $6.05) 151.25

Cash 151.25
Purchases

12/7: 10 boxes purchased at $6

12/20: 20 boxes purchased at $6.10

12/30: 25 boxes purchased at $6.05
Sales – selling price, $8.50 a box
12/15: 8 boxes
12/24: 18 boxes
 A Company

Trial Balance
20xx
Unadjusted trial balance Adjusting entries
Account Debit Credit Debit
Cash 51,436.75
Baking Supplies 20,500.00
Merchandise Inventory 175.65
Prepaid Rent 1,500.00
Prepaid Insurance 1,200.00
Baking Equipment 5,000.00
Accumulated Depreciation
Office Supplies 600.00
Accounts Receivable 9,700.00
Notes Payable 10,000.00
Interest Payable
Accounts Payable 7,000.00
Wages Payable 480.00
Common Stock 30,000.00
Dividends 10,000.00
Bakery Sales 60,000.00
Merchandise Sales 221.00
Baking Supplies Expense 19,400.00
Rent Expense 4,500.00
Interest Expense 150.00
Insurance Expense 200.00
Depreciation Expense 208.33
Misc. Expense 250.00
Office Supplies Expense 550.00
Business License Expense 375.00
Advertising Expense 200.00
Wages Expense 1,956.00
Telephone Expense 150.00
COGS 157.60

Total: 107,701.00 107,701.00 20,508.33

sting entries Adjusted trial balance
Credit Debit Credit
51,436.75
19,400.00 1,100.00
175.65
1,500.00
200.00 1,000.00
5,000.00
208.33 208.33
550.00 50.00
9,700.00
10,000.00
150.00 150.00
7,000.00
480.00
30,000.00
10,000.00
60,000.00
221.00
19,400.00
4,500.00
150.00
200.00
208.33
250.00
550.00
375.00
200.00
1,956.00
150.00
157.60

20,508.33 108,059.33 108,059.33

 A Company
Adjusting Journal Entries
20XX

Date Accounts Debit Credit

31-Dec Depreciation Expense 208.33
Accumulated Depreciation 208.33
31-Dec Interest Expense 150.00
Interest Payable 150.00
31-Dec Insurance Expense 200.00
Prepaid Insurance 200.00
31-Dec Baking Supplies Expense 19,400.00
Baking Supplies 19,400.00
31-Dec Office Supplies Expense 550.00
Office Supplies 550.00

20,508.33 20,508.33
 A Company
Income Statement
For Qtr. Ending 12/31/20XX

Revenues
Bakery Sales 60,000.00
Merchandise Sales 221.00
Total Revenues 60,221.00
Cost of Goods Sold 157.60
Gross Profit 60,063.40

Operating Expenses:
Baking Supplies Expense 19,400.00
Rent Expense 4,500.00
Insurance Expense 200.00
Misc. Expense 250.00
Business License Expense 375.00
Advertising Expense 200.00
Wages Expense 1,956.00
Telephone Expense 150.00
Interest Expense 150.00
Depreciation Expense 208.33
Office Supplies Expense 550.00

Total Operating Expenses: 27,939.33

Net Income 32,124.07

 A Company
Statement of Stockholder's Equity
For Qtr. Ending 12/31/20xx
Common Stock Retained Earnings Total
Beginning Balances, September 30 0 0 0
Issued Common Stock 30,000.00 - 30,000.00
Net Income
Dividends (10,000.00)
Ending Balances, December 31: 20,000.00 - 30,000.00
 A Company
Balance Sheet
As of December 31, 20XX

Assets
Current Assets:
Cash 51,436.75
Baking Supplies 1,100.00
Merchandise Inventory 175.65
Prepaid Rent 1,500.00
Prepaid Insurance 1,000.00
Office Supplies 50.00
Accounts Receivable 9,700.00
Total Current Assets 64,962.40

Non-Current Assets:
Baking Equipment 5,000.00
Accumulated Depreciation (208.33)
Baking Equipment (Net) 4,791.67

Total Assets: 69,754.07

er 31, 20XX

Liabilities and Owners' Equity

Current Liabilities:
Interest Payable 150.00
Accounts Payable 7,000.00
Wages Payable 480.00
Total Current Liabilities 7,630.00

Long Term Liabilities:

Notes Payable 10,000.00
Total Long Term Liabilities: 10,000.00

Total Liabilities: 17,630.00

Shareholder's Equity:
Common Stock

Total Equity -

Total Liabilities & Equity 17,630.00

 A Company
Closing Entries
Qtr ending 12/31/20xx

Date Accounts Debit Credit

31-Dec Bakery Sales
Merchandise Sales
Retained Earnings

31-Dec Retained Earnings

Baking Supplies Expense
Rent Expense
Wages Expense
Office Supplies Expense
Business License Expense
Office Expense
Depreciation Expense
Insurance Expense
Advertising Expense
Interest Expense
Telephone Expense
COGS

31-Dec Retained Earnings

Dividends
 A Company
Post-Closing Trial Balance
Qtr. Ending 12/31/20xx
Unadjusted Trial Balance
Account Debit Credit
Cash
Baking Supplies
Merchandise Inventory
Prepaid Rent
Prepaid Insurance
Baking Equipment
Accumulated Depreciation
Office Supplies
Accounts Receivable
Accounts Payable
Wages Payable
Interest Payable
Notes Payable
Common Stock
Retained Earnings

Total - -