MORGAN COMPANY

ACHMAD KHUDHORI General Journal

20223042
January 31, 2020

DATE DESCRIPTION DEBIT KREDIT

January 1 Interest Payable $ 250
2020 Cash $ 250
2 Inventory $ 261.100
Accounts Payable $ 261.100
3 Cash $ 440.000
Sales Revenue $ 411.400
Sales Tax Payable $ 28.600
Cost of Goods Sold $ 265.000
Inventory $ 265.000
4 Accounts Payable $ 230.000
Cash $ 230.000
5 Sales Tax Payable $ 17.000
Cash $ 17.000
6 Operating Expense $ 30.000
Cash $ 30.000
7 Salaries and Wages Expense $ 60.000
Fica Payable (7,65% x $60.000 = $4.590) $ 4.590
Federal Income Tax With-Held $ 8.900
Salary and Wages Payable $ 46.510
TOTAL $ 1.303.350 $ 1.303.350
 MORGAN COMPANY
ACHMAD KHUDHORI General Ledger
20223042 January 31, 2020

Cash Inventory Prepaid Insurance Equipment

01/01/2020 $ 30.000 01/01/2020 $ 250 01/01/2020 $ 30.750 03/01/2020 $ 265.000 01/01/2020 $ 6.000 01/01/2020 $ 38.000
$ 440.000 04/01/2020 $ 230.000 02/01/2020 $ 261.100
05/01/2020 $ 17.000
06/01/2020 $ 30.000
$ 192.750 $ 26.850 $ 6.000 $ 38.000

Accounts Payable Interest Payable Notes Payable FICA Payable

04/01/2020 $ 230.000 01/01/2020 $ 13.750 01/01/2020 $ 250 01/01/2020 $ 250,00 01/01/2020 $ 50.000 06/01/2020 $ 4.590
02/01/2020 $ 261.100

$ 44.850 $ - $ 50.000 $ 4.590

Federal Income Tax With-held Sales & Wages Payable Sales Tax Payable Owners Equity
06/01/2020 $ 8.900 06/01/2020 $ 46.510 05/01/2020 $ 17.000 03/01/2020 $ 28.600 01/01/2020 $ 40.750

$ 8.900 $ 46.510 $ 11.600 $ 40.750

Sales Revenue Operating Expense Operating Expense Salaries & Wages Expense
03/01/2020 $ 411.400 03/01/2020 $ 265.000 06/01/2020 $ 30.000 06/01/2020 $ 60.000

$ 411.400 $ 265.000 $ 30.000 $ 60.000

 MORGAN COMPANY MORGAN COMPANY
ACHMAD KHUDHORI
ACHMAD KHUDHORI Trial Balance Adjustment Entries
20223042 January 31, 2020 January 31, 2020

Accounts Name Debit Credit Date Particulars Debit Credit

Cash $ 192.750 - Jan 31 Interest Expense $ 250
Inventory $ 26.850 - 2020 Interest Payable $ 250
Prepaid Insurance $ 6.000 - 31 Insurance Expense $ 500
Equipment $ 38.000 - Prepaid Insurance (1) $ 500
Accounts Payable - $ 44.850 31 Depreciation Expense $ 7.200
Interest Payable - - Accumulated Depreciation-Euipment $ 7.200
Notes Payable - $ 50.000 31 PayableTax Expense $ 8.310
FICA Payable - $ 4.590 FICA Payable $ 4.590
Federal Income Tax With-Held - $ 8.900 State Unemployment Tax Payable (2) $ 3.240
Salaries & Wages Payable - $ 46.510 Federal Unemployment Tax Payable (3) $ 480
Sales Tax Payable - $ 11.600 TOTAL $ 16.260 $ 16.260
Owner's Equity - $ 40.750 Note:
Sales Revenue - $ 411.400 1. Prepaid Insurance
Cost Of Goods Sold $ 265.000 1/12 x $6.000 = $500
Operating Expense $ 30.000 2, State Unemplo. Tax Payable
Salaries & Wages Expense $ 60.000 5,4% x $60.000 = $ 3.240
TOTAL $ 618.600 $ 618.600 3. Federal Unemplo. Tax:
0,8% x $60.000 = $480
 MORGAN COMPANY
ACHMAD KHUDHORI
Work Sheet
20223042
January 31, 2020

TRIAL BALANCE ADJUSTING ENTRIES ADJUSTED TB INCOME STATEMENT BALANCE SHEET

ACCOUNTS NAME
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
Cash $ 192.750 $ 192.750 $ 192.750
Inventory $ 26.850 $ 26.850 $ 26.850
Prepaid Insurance $ 6.000 $ 500 $ 5.500 $ 5.500
Equipment $ 38.000 $ 38.000 $ 38.000
Accounts Payable $ 44.850 $ 44.850 $ 44.850
Interest Payable $ 250 $ 250 $ 250
Notes Payable $ 50.000 $ 50.000 $ 50.000
FICA Payable $ 4.590 $ 4.590 $ 9.180 $ 9.180
Federal Income Tax With-Held $ 8.900 $ 8.900 $ 8.900
Salaries & Wages Payable $ 46.510 $ 46.510 $ 46.510
Sales Tax Payable $ 11.600 $ 11.600 $ 11.600
Owner's Equity $ 40.750 $ 40.750 $ 40.750
Sales Revenue $ 411.400 $ 411.400 $ 411.400
Cost Of Goods Sold $ 265.000 $ 265.000 $ 265.000
Operating Expense $ 30.000 $ 30.000 $ 30.000
Salaries & Wages Expense $ 60.000 $ 60.000 $ 60.000
TOTAL $ 618.600 $ 618.600
Accum. Depreciation - Eqiuipment $ 7.200 $ 7.200 $ 7.200
State Unemployment Tax Payable $ 3.240 $ 3.240 $ 3.240
Federal Unemployemnet Tax Payable $ 480 $ 480 $ 480
Interest Expense $ 250 $ 250 $ 250
Insurance Expense $ 500 $ 500 $ 500
Depreciation Expense $ 7.200 $ 7.200 $ 7.200
Payroll Tax Expense $ 8.310 $ 8.310 $ 8.310
TOTAL $ 16.260 $ 16.260 $ 634.360 $ 634.360 $ 371.260 $ 411.400 $ 263.100 $ 222.960
NET PROFIT $ 40.140 $ 40.140
TOTAL $ 411.400 $ 411.400 $ 263.100 $ 263.100
 MORGAN COMPANY ACHMAD KHUDHORI MORGAN COMPANY
Income Statement 20223042 Owner Equity Statement
January 31, 2020 January 31, 2020

Revenue : Owner's Equity Beginning ( 1 January ) $ 40.750

Sales Revenue $ 411.400 Net Profit $ 40.140
Cost Of Goods Sold :
Cost Of Goods Sold $ -265.000 Owner's Equity Ending (31 January ) $ 80.890
GROSS PROFIT $ 146.400

Expense :
Operating Expense
Salaries & Wages Expense
Interest Expense
Insurance Expense
Depreciation Expense
Payroll Tax Expense
TOTAL EXPENSE
NET PROFIT
$ 30.000
$ 60.000
$ 250
$ 500
$ 7.200
$ 8.310
$ -106.260
$ 40.140
 MORGAN COMPANY
ACHMAD KHUDHORI
Balance Sheet
20223042
January 31, 2020

ASSET LIABILITY & EQUITY

Property, Plant, Equipment: Liability:
Equipment $ 38.000 Federal Unemployment Tax Payable $ 480
Accumulated Depreciation -Equipment $ -7.200 State Unemployment Tax Payable $ 3.240
TOTAL PROPERTY, PLANT, EQUIPMENT $ 30.800 Federal Income Tax With-held $ 8.900
FICA Payable $ 9.180
Current Asset: Sales Tax Payable $ 11.600
Prepaid Insurance $ 5.500 Salaries & Wages Payable $ 46.510
Inventory $ 26.850 Notes Payable $ 50.000
Cash $ 192.750 Interest Payable $ 250
TOTAL CURRENT ASSET $ 225.100 Accounts Payable $ 44.850
TOTAL LIABILITIES $ 175.010

Equity:
Owner's Equity $ 80.890
TOTAL EQUITY $ 80.890

TOTAL ASSET $ 255.900 TOTAL LIABILITY & EQUITY $ 255.900