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Post-Adjustment Trial Balance

December 31, 2013


Account
1100
1110
1130
1200
1205
1230
1240
1300
1410
1500
1505
2100
2150
2160
2165
2170
2180
2190
2200
2220
2700
2710
3100
3120
3200
4100
4180
4190
4500
4700
4800
5100
5200
5300
5400
5600
5700
5800
5900
6000
6100
6250
6300
6400
6500
6600
6700
8000
8100
8200
8250
8400
9000
9100
9200

Description
Cash - Operating Account
Cash - Payroll
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts
Interest Receivable
Notes Receivable
Inventory
Prepaid Insurance
Fixed Assets - Furniture & Fixtures
Accumulated Depreciation-Fixed Assets
Accounts Payable
Federal Withholding Payable
FICA Payable
Medicare payable
FUTA Payable
TX state SUTA payable
Interest Payable
Federal Income Tax Payable
Current N/P to banks
Notes Payable to Banks
Other Liabilities
Common Stock
Additional Paid-In Capital-Common Stock
Retained Earnings
Sales
Sales Discount
Sales Returns
Cost of Goods Sold
Shrinkage and Waste
Freight and Handling
Accounting Fees
Advertising Expense
Bad Debts Expense
Bank Fees
Depreciation Expense
Dues & Subscription
Employee Benefits
Insurance
Legal Fees
Life Insurance - Administration
Postage
Rent Expense
Repairs & Maintenance Expense
Salaries and Wages
Supplies
Telephone & Utilities
Taxes - Federal Income
Taxes - FUTA Expense
Taxes - FICA Expense
Taxes - Medicare Expense
Taxes - SUTA Expense
Interest Expense
Interest Income
Miscellaneous Income/Expense

221218490.xls.ms_office

Debit
147,109.83
10.00
133,000.00

Credit

2,660.00
73,093.35
91,000.00
16,500.00
273,500.00
37,787.50
40,900.00
7,800.00
43,660.19
90,278.26
65,000.00
5,000.00
495,000.00
59,340.08
565,000.00
720.00
3,000.00
338,760.00
3,000.00
5,000.00
17,000.00
4,500.00
660.00
360.00
22,287.50
500.00
1,500.00
1,000.00
9,000.00
500.00
27,000.00
1,545.00
206,400.00
5,655.00
168.00
12,796.80
2,992.80
1,026.00
13,216.75
1,412,801.03

Trial Balance

375.00
1,412,801.03
-

General Ledger
Account 1100

Cash - Operating Account


Dec

Ref

12
12

1 Balance Forward
30
30

GJ1
CD
CR

12

31

GJ5

Debit
372,107.33

Credit
367,529.15

142,561.65
30

Debit Balance
372,107.33
4,578.18
147,139.83

Credit Balance

147,109.83

Account 1110

Cash - Payroll
Dec
12
12

Ref

1 Balance Forward
30
30

GJ1
PR
CD

Debit
10.00

Credit

Debit Balance
10.00

13,779.20
13,779.20

Credit Balance
13,769.20

10.00

Account 1130
Account not used

Account 1200

Accounts Receivable
Dec
12
12

1 Balance Forward
30
30

Ref
GJ1
SJ
CR

Debit
137,000.00
137,000.00

Credit

141,000.00

Debit Balance
137,000.00
274,000.00
133,000.00

Credit Balance

Debit Balance

Credit Balance
2,000.00

Account 1205

Allowance for Doubtful Accounts


Dec

1 Balance Forward
12

31

221218490.xls.ms_office; General Ledger - Students

Ref

Debit

GJ1

Credit
2,000.00

GJ5

660.00

Page 2 of 25

2,660.00

Account 1230

Interest Receivable
Dec

Ref

Debit

Credit

Debit Balance
0.00

Credit Balance

Ref

Debit

Credit

Debit Balance
0.00
75,000.00
72,718.35

Credit Balance

1 Balance Forward

Account 1240

Notes Receivable
Dec
12
12

1 Balance Forward
1
31

CD
CR

12

31

GJ6

75,000.00
2,281.65
375.00

73,093.35

Account 1300

Inventory
Dec

Ref

12
12

1 Balance Forward
30
30

GJ1
SJ
PJ

12

31

GJ7

Debit
37,000.00

Credit

Debit Balance
37,000.00

78,000.00
135,000.00

Credit Balance
41,000.00

94,000.00
3,000.00

91,000.00

Account 1410

Prepaid Insurance
Dec

Ref

12

1 Balance Forward
30

CD

12

31

GJ8

Debit

Credit

18,000.00
1,500.00

Debit Balance
0.00
18,000.00

Credit Balance

16,500.00

Account 1500

Fixed Assets - Furniture and Fixtures


Dec

1 Balance Forward
12

31

221218490.xls.ms_office; General Ledger - Students

Ref
GJ1

Debit
265,500.00

GJ9

8,000.00

Page 3 of 25

Credit

Debit Balance
265,500.00
273,500.00

Credit Balance

Account 1505

Accumulated Depreciation Fixed Assets


Dec
12

1 Balance Forward
30

Ref

Debit

Credit
15,500.00
22,287.50

Debit Balance

Credit Balance
15,500.00
37,787.50

Ref

Debit

Credit
110,000.00
375.00
173,900.00

Debit Balance

Credit Balance
110,000.00
110,375.00
284,275.00
38,900.00

GJ1
GJ2

Account 2100

Accounts Payable
Dec
12
12
12

1 Balance Forward
30
30
30

GJ1
PR
PJ
CD

12

31

GJ10

245,375.00
2,000.00

40,900.00

Account 2140
ACCOUNT NOT ACTIVE

Account 2150

Federal Withholding Payable


Dec
12
12

1 Balance Forward
30
30

Ref
PR
CD

Debit

Credit

Debit Balance

Credit Balance
0.00
1,730.00
0.00

Debit Balance

Credit Balance
0.00
1,066.40
0.00

Debit Balance

Credit Balance
0.00
249.40
0.00

1,730.00
1,730.00

Account 2160

FICA Payable
Dec
12
12

1 Balance Forward
30
30

Ref
PR
CD

Debit

Credit
1,066.40

1,066.40

Account 2165

Medicare Payable
Dec
12
12

1 Balance Forward
30
30

221218490.xls.ms_office; General Ledger - Students

Ref
PR
CD

Debit

Credit
249.40

249.40

Page 4 of 25

Account 2170

FUTA Payable
Dec

Ref

Debit

Credit

Debit Balance

Credit Balance
0.00

Ref

Debit

Credit

Debit Balance

Credit Balance
0.00

Ref

Debit

Credit

Debit Balance

Credit Balance
0.00

1 Balance Forward

Account 2180

TX State SUTA Payable


Dec

1 Balance Forward

Account 2190

Interest Payable
Dec

1 Balance Forward
12

31

GJ13

7,800.00

7,800.00

Account 2200

Federal Income Tax Payable


Dec

Ref

Debit

Credit

Debit Balance

1 Balance Forward

Credit Balance
0.00

Account 2210
ACCOUNT NOT IN USE

Account 2220

Current NP to Banks
Dec

1 Balance Forward

221218490.xls.ms_office; General Ledger - Students

Ref

Debit

GJ1

Page 5 of 25

Credit
43,660.19

Debit Balance

Credit Balance
43,660.19

Account 2700

Notes Payable to Banks


Dec
12

1 Balance Forward
30

Ref
GJ1
CD

Debit

Credit
93,516.51

Debit Balance

Credit Balance
93,516.51
90,278.26

3,238.25

Account 2710

Other Liabilities
Dec

1 Balance Forward

Ref

Debit

Credit
65,000.00

Debit Balance

Credit Balance
65,000.00

Ref

Debit

Credit
5,000.00

Debit Balance

Credit Balance
5,000.00

Ref

Debit

Credit
495,000.00

Debit Balance

Credit Balance
495,000.00

Ref

Debit

Credit
59,340.08

Debit Balance

Credit Balance
59,340.08

Ref

Debit

Credit
425,000.00
140,000.00

Debit Balance

Credit Balance
425,000.00
565,000.00

GJ1

Account 3100

Common Stock
Dec

1 Balance Forward

GJ1

Account 3120

Additional Paid-In Capital - CS


Dec

1 Balance Forward

GJ1

Account 3200

Retained Earnings
Dec

1 Balance Forward

GJ1

Account 4100

Sales
Dec
12

1 Balance Forward
30

221218490.xls.ms_office; General Ledger - Students

GJ1
SJ

Page 6 of 25

Account 4180

Sales Discount
Dec
12

1 Balance Forward
30

Ref
CR

Debit

Credit

720.00

Debit Balance

Credit Balance

720.00

Account 4190

Sales Returns
Dec
12

Ref

1 Balance Forward
30

SJ

Debit

Credit

3,000.00

Debit Balance

Credit Balance

3,000.00

Account 4500

Cost of Goods Sold


Dec
12

1 Balance Forward
30

Ref

Debit
260,760.00
78,000.00

Credit

Debit Balance
260,760.00
338,760.00

Credit Balance

Ref

Debit

Credit

Debit Balance

Credit Balance

GJ1
SJ

Account 4700

Shrinkage and Waste


Dec

1 Balance Forward
12

31

GJ7

3,000.00

3,000.00

Account 4800

Freight and Handling


Dec
12

1 Balance Forward
30

Ref
CD

Debit

Credit

Debit Balance
0.00
5,000.00

Credit Balance

Credit

Debit Balance
0.00
8,000.00
25,000.00

Credit Balance

5,000.00

Account 5100

Accounting Fees
Dec

Ref

12
12

1 Balance Forward
31
31

PJ
PJ

12

31

GJ9

221218490.xls.ms_office; General Ledger - Students

Debit
8,000.00
17,000.00

8,000.00

Page 7 of 25

17,000.00

Account 5200

Advertising Expense
12

1 Balance Forward
30

PJ

2,500.00

Debit Balance
0.00
2,500.00

12

31

GJ10

2,000.00

4,500.00

Dec

Ref

Debit

Credit

Credit Balance

Account 5300

Bad Debts Expense


Dec

Ref

Debit

Credit

1 Balance Forward
12

31

GJ4

660.00

Debit Balance
0.00

Credit Balance

660.00

Account 5400

Bank Fees
Dec

Ref

Debit

Credit

1 Balance Forward

Debit Balance
0.00

12

31

GJ3

330.00

330.00

12

31

GJ5

30.00

360.00

Depreciation Expense
Dec

Ref

12
12

1 Balance Forward
30
30

GJ1
PR
GJ2

12

31

GJ3

12

31

GJ11

Debit
330.00
17,200.00
22,287.50

Credit

Debit Balance
330.00
17,530.00
39,817.50

330.00

39,487.50

17,200.00

22,287.50

Credit Balance

Account 5600
Credit Balance

Account 5700

Dues & Subscription


Dec
12

1 Balance Forward
15

Ref
PJ

Debit

Credit

Debit Balance
0.00
500.00

Credit Balance

Credit

Debit Balance
1,375.00
1,500.00

Credit Balance

500.00

Account 5800

Employee Benefits
Dec
12

1 Balance Forward
30

221218490.xls.ms_office; General Ledger - Students

Ref
GJ1
CD

Debit
1,375.00
125.00

Page 8 of 25

Account 5900

Insurance

Ref

Dec

Debit

Credit

1 Balance Forward
12

31

GJ8

1,000.00

Debit Balance
0.00

Credit Balance

1,000.00

Account 6000

Legal Fees
Dec
12

Ref
1 Balance Forward
30

PJ

Debit

Credit

Debit Balance
0.00
9,000.00

Credit Balance

Credit

Debit Balance
0.00

Credit Balance

9,000.00

Account 6100

Life Insurance - Administration


Dec

Ref

Debit

1 Balance Forward
12

31

GJ8

500.00

500.00

Account 6250

Postage
Dec

Ref

Debit

Credit

Debit Balance
0.00

Credit Balance

Ref

Debit
24,750.00
2,250.00

Credit

Debit Balance
24,750.00
27,000.00

Credit Balance

Ref

Debit

Credit

Debit Balance
0.00
1,545.00

Credit Balance

1 Balance Forward

Account 6300

Rent Expense
Dec
12

1 Balance Forward
30

GJ1
CD

Account 6400

Repairs & Maintenance Expense


Dec
12

1 Balance Forward
15

221218490.xls.ms_office; General Ledger - Students

PJ

1,545.00

Page 9 of 25

Account 6500

Salaries and Wages


Dec

1 Balance Forward
12

31

Ref
GJ1

Debit
189,200.00

GJ11

17,200.00

Credit

Debit Balance
189,200.00

Credit Balance

206,400.00

Account 6600

Supplies
Dec

Ref

Debit

Credit

Debit Balance
0.00

Credit Balance

Ref

Debit
5,300.00
355.00

Credit

Debit Balance
5,300.00
5,655.00

Credit Balance

Ref

Debit

Credit

Debit Balance
0.00

Credit Balance

Ref

Debit
168.00
1,066.40

Credit

Debit Balance
168.00
1,234.40

Credit Balance

1 Balance Forward

Account 6700

Telephone & Utilities


Dec
12

1 Balance Forward
15

GJ1
PJ

Account 8000

Taxes - Federal Income


Dec

1 Balance Forward

Account 8100

Taxes - FUTA Expense


Dec
12

1 Balance Forward
30

GJ1
CD

12

31

GJ12

1,066.40

168.00

Account 8200

Taxes - FICA Expense


Dec

1 Balance Forward
12

31

221218490.xls.ms_office; General Ledger - Students

Ref
GJ1
GJ12

Debit
11,730.40
1,066.40

Page 10 of 25

Credit

Debit Balance
11,730.40
12,796.80

Credit Balance

Account 8250

Taxes - Medicare Expense


Dec
12

1 Balance Forward
30

Ref
GJ1
CD

Debit
2,743.40
249.40

Credit

Debit Balance
2,743.40
2,992.80

Credit Balance

Account 8300

Account Not in Use


Account 8400

Taxes - SUTA Expense


Dec

1 Balance Forward

Ref

Debit
1,026.00

Credit

Debit Balance
1,026.00

Credit Balance

Ref

Debit
5,016.65
400.10

Credit

Debit Balance
5,016.65
5,416.75

Credit Balance

GJ1

Account 9000

Interest Expense
Dec
12

1 Balance Forward
30

GJ1
CD

12

31

GJ13

7,800.00

13,216.75

Account 9100

Interest Income
Dec

Ref

Debit

Credit

1 Balance Forward
12

31

GJ6

Debit Balance
0.00

375.00

Credit Balance

375.00

Account 9200

Miscellaneous Income/Expense
Dec

Ref

Debit

1 Balance Forward

221218490.xls.ms_office; General Ledger - Students

Page 11 of 25

Credit

Debit Balance
0.00

Credit Balance

Account Receivable Subsidiary Ledger


Accounts Receivable Account 1200
C 10

Customer 10

Credit Terms: 2/10, Net 30


Credit Limit: $25,000
Ref

Dec
12

1 Balance Forward (from November)


10

CR

12

20 Inv 1204

SJ

Debit

Credit
20,000.00

8000.00

Debit Balance
20,000.00
-

Credit Balance

8,000.00

C 20

Customer 20

Credit Terms: 2/10, Net 30


Credit Limit: $50,000
Ref

Dec
12
12

1 Balance Forward (from October)


15
28 Inv 1205

CR
SJ

12

30 CM 01

SJ

Debit

Credit
25,000.00

24,000.00
3,000.00

Debit Balance
45,000.00
20,000.00
44,000.00

Credit Balance

41,000.00

C 30
Customer 30

Credit Terms: 2/10, Net 30


Credit Limit: $75,000
Ref

Dec
12
12

1 Balance Forward (from November)


3
5 Inv 1202

CR
SJ

Debit

Credit
60,000.00

48,000.00

Debit Balance
60,000.00
48,000.00

Credit Balance

C40

Customer 40

Credit Terms: 3/10, Net 30


Credit Limit: $45,000
Ref

Dec
12
12
12

1
2
5
10

Balance Forward (from November)


Inv 1201
Open Balance
Inv 1203

221218490.xls.ms_office; Subsidiary Ledger-AR

SJ
CR
SJ

Debit

Credit

24,000.00
36,000.00
36,000.00

Debit Balance
12,000.00
36,000.00
36,000.00

Credit Balance

Inventory Subsidiary Ledger


Inventory Account 1300
I 10

Item 10
Current Cost: $1,000

Preferred Vendor: Vendor 30


Retail Sales Price: $2,000 (Price Increase from $1,500)

Stock Item
Dec
12
12

Ref
1 Balance Forward
3
20

PJ
SJ

Debit

Credit

10,000.00
4,000.00

Quantity

Debit Balance
5,000.00
15,000.00
11,000.00

Credit Balance

Debit

Credit

Debit Balance

Credit Balance

5.00
15.00
11.00

10.00
4.00

I 20

Item 20
Current Cost: $1,500

Preferred Vendor: Vendor 30


Retail Sales Price: $3,000 (Price Increase from $2,000)

Stock Item
Dec

Ref

12
12

1 Balance Forward
3
10

PJ
SJ

12

31

GJ7

Debit

Credit

Quantity

18,000.00

Debit Balance
6,000.00
21,000.00
3,000.00

3000.00

0.00

15,000.00

Credit Balance

Debit

Credit

Debit Balance

12.00

4.00
14.00
2.00

2.00

0.00

10.00

Credit Balance

I 30

Item 30
Current Cost: $2,000

Preferred Vendor: Vendor 30


Retail Sales Price: $4,000 (Price Increase from $3,000)

Stock Item
Dec

Ref

12
12

1 Balance Forward
3
28

PJ
SJ

12

31

SJ

Debit

Credit

Quantity

12,000.00

Debit Balance
14,000.00
24,000.00
12,000.00

12000.00

0.00

10,000.00

Credit Balance

Debit

Credit

Debit Balance

6.00

7.00
12.00
6.00

6.00

0.00

5.00

Credit Balance

I 40

Item 40
Current Cost: $4,000

Preferred Vendor: Vendor 30


Retail Sales Price: $6,000 (Price Increase from $5,000)

Stock Item
Dec
12
12
12

Ref
1 Balance Forward
3
5
6

PJ
SJ
PJ

221218490.xls.ms_office; Subsidiary Ledger-Inventory

Debit

Credit

40,000.00
32,000.00
60,000.00

Debit Balance
12,000.00
52,000.00
20,000.00
80,000.00

Quantity
Credit Balance

Debit

Credit

10.00
8.00
15.00

Debit Balance
3.00
13.00
5.00
20.00

Credit Balance

Fixed Asset Subsidiary Ledger


Fixed Assets - Furnitures and Fixtures Account 1500
Item 10
Purchase Date:
Disposal Date:
Vendor:
Dec
12

F10
March 1, 2012
n/a
Vendor 20
1 Balance Forward
30

Depreciation Method:
Salvage Value:
Ref
Debit

November 2, 2012
n/a
Vendor 20
1 Balance Forward
30

Depreciation Method:
Salvage Value:
Ref
Debit

Straight Line Annual Depreciation


$ 20,000.00 Useful Life
Credit
Debit Balance
200,000.00

Straight Line Annual Depreciation


$
500.00 Useful Life
Credit
Debit Balance
15,500.00

Disposal Date:
Vendor:
Dec
12

Disposal Date:
Vendor:
Dec
12
12

3,000.00
5 Years
Credit Balance

GJ

Credit Balance
15,000.00
33,000.00

Debit

Accumulated Depreciation
Credit
Debit Balance
500.00
3,000.00

Credit Balance
500.00
3,500.00

F30
October 1, 2013
n/a
Vendor 20
1 Balance Forward
30

Depreciation Method:

Straight Line

Salvage Value:
Ref
Debit

5000
Credit

Annual Depreciation
Useful Life
Debit Balance
50,000.00

4,500.00
10 Years
Credit Balance

GJ

Accumulated Depreciation
Debit
Credit

Debit Balance

1,125.00

Item 40
Purchase Date:

Accumulated Depreciation
Credit
Debit Balance
15,000.00
18,000.00

F20

Item 30
Purchase Date:

Debit

GJ

Item 20
Purchase Date:
Disposal Date:
Vendor:
Dec
12

18,000.00
10 Years
Credit Balance

Credit Balance
1,125.00

F40
December 2, 2013
n/a
Vendor 20
1 Balance Forward
30
30

Depreciation Method:

Straight Line

Salvage Value:
Ref
Debit
PJ
GJ

221218490.xls.ms_office; Subsidiary Ledger-Fixed Assets

200
Credit
8,000.00

Annual Depreciation
Useful Life
Debit Balance

1,950.00
4 Years
Credit Balance

Accumulated Depreciation
Debit
Credit

Debit Balance

Credit Balance

8,000.00
162.50

162.50

Account Payable Subsidiary Ledger


Accounts Payable Account 2100
V10

Vendor 10

Credit Terms: Net 30 days


Credit Limit: $5,000

Medical Insurance Vendor


Ref
Dec
12
12

1 Balance Forward
30
30

Debit

PR
CD

Credit

Debit Balance

375.00
375.00

Credit Balance
375.00
-

V20

Vendor 20

Credit Terms: 2/10, Net 30


Credit Limit: $150,000

Fixed Asset Vendor


Ref
Dec

1 Balance Forward
2

12

Debit

PJ

Credit

Debit Balance

Credit Balance

8,000.00

8,000.00

V30

Vendor 30

Credit Terms: 2/10, Net 30


Credit Limit: $150,000

Inventory Vendor
Ref
Dec
12
12
12
12

1 Balance Forward
1
3
6
15

Debit

CD
PJ
PJ
CD

Credit

Debit Balance

110,000.00
75,000.00
60,000.00
135,000.00

Credit Balance
110,000.00
75,000.00
135,000.00
-

V40

Vendor 40

Credit Terms: 2/10, Net 30


Credit Limit: $75,000

General Supplies & Misc. Vendors


Ref
Dec
12
12
12

1
15
15
30

Balance Forward
Repair Bill V 810
Dues V 907
Advertising Bill VA01

221218490.xls.ms_office; Subsidiary Ledger-AP

PJ
PJ
PJ

Page 15 of 25

Debit

Credit
1,545.00
500.00
2,500.00

Debit Balance

Credit Balance
1,545.00
2,045.00
4,545.00

Account Payable Subsidiary Ledger


Accounts Payable Account 2100
V50

Vendor 50

Credit Terms: Net 30


Credit Limit: $75,000

Accounting Vendor
Ref
Dec
12

1 Balance Forward
30 Accounting Bill V 222

Debit

PJ

Credit

Debit Balance

17,000.00

Credit Balance
17,000.00

V60

Vendor 60

Credit Terms: Net 30


Credit Limit: $75,000

Legal Vendor
Ref
Dec
12

1 Balance Forward
30 Legal Bill V723

Debit

PJ

Credit

Debit Balance

9,000.00

Credit Balance
9,000.00

V70

Vendor 70

Credit Terms: Net 30


Credit Limit: $75,000

Telephone and Utilities Vendor


Ref
Dec
12

1 Balance Forward
15 Utilities Bill V654

221218490.xls.ms_office; Subsidiary Ledger-AP

PJ

Page 16 of 25

Debit

Credit
355.00

Debit Balance

Credit Balance
355.00

Salaries and Wages Subsidiary Ledger


Salaries and Wages Account 6500
Salaried: $3,200 per month; Firm pays 25% of medical insurance
W-4 Filed, Married, 0

Employee 10
Dec
12

1 Balance Forward
30

Ref
PR
PR

Zero Balance Check:

0.062

35,200.00
3,200.00

Federal W/H
2,596.00
236.00

Social Security
2,182.40
198.40

Medicare
510.40
46.40

Medical
Insurance
1,155.00
105.00

Net Pay
28,756.20
2,614.20

38,400.00

2,832.00

2,380.80

556.80

1,260.00

31,370.40

Gross

2013 Total

Employee 20
12

1 Balance Forward
30

Ref
PR
PR

$217.00 / period

Zero Balance Check:

12

1 Balance Forward
30

Ref
PR
PR

Zero Balance Check:

12

1 Balance Forward
30

Social Security
2,387.00
217.00

Medicare
558.25
50.75

42,000.00

2,604.00

2,604.00

609.00

1,260.00

$851.00 / period

0.062

P30
0.0145

Net Pay
32,012.75
2,910.25
34,923.00

Check #
1046

$60

55,000.00
5,000.00

Federal W/H
9,361.00
851.00

Social Security
3,410.00
310.00

Medicare
797.50
72.50

Medical
Insurance
660.00
60.00

60,000.00

10,212.00

3,720.00

870.00

720.00

Gross

Net Pay
40,771.50
3,706.50
44,478.00

Check #
1047

60000-10212-3720-870-720-44478

Ref
PR
PR

$426.00 / period

P40
0.0145

$105

60,500.00
5,500.00

Federal W/H
4,686.00
426.00

Social Security
3,751.00
341.00

Medicare
877.25
79.75

66,000.00

5,112.00

4,092.00

957.00

1,260.00

66000-5122-4092-957-1260-54579

221218490.xls.ms_office; Subsidiary Ledger - Wages&Sal

0.062

Medical
Insurance
1,155.00
105.00

Gross

2013 Total
Zero Balance Check:

1045

$105

Federal W/H
2,387.00
217.00

Salaried: $5,500 per month; Firm pays 25% of medical insurance


W-4 Filed, Married 4

Employee 40

Check #

+42000-2604-2604-609-1260-34923

2013 Total

Dec

P20
0.0145

38,500.00
3,500.00

Salaried: $5,000 per month; Firm pays 25% of medical insurance


W-4 Filed, Single 0

Employee 30

0.062

Medical
Insurance
1,155.00
105.00

Gross

2013 Total

Dec

$105/period

38400-2832-2380.8-556.8-1260-31370.40

Salaried: $3,500 per month; Firm pays 25% of medical insurance


W-4 Filed, Married, 2

Dec

P10
0.0145

$236.00 / period

Net Pay
50,030.75
4,548.25
54,579.00

Check #
1048

General Journal
Date

GL Acct#

Hash
Total

1100
1110
1200
1205
1300
1500
1505
2100
2220
2700
2710
3100
3120
3200
4100
4500
5600
5800
6300
6500
6700
8100
8200
8250
8400
9000

Posted
Ref

Explanation
GJ1
Cash - Operating Account
Cash - Payroll
Accounts Receivable
Allowance for Doubtful Accounts
Inventory
Fixed Assets - Furniture and Fixtures
Accumulated Depreciation-Fixed Assets
Accounts Payable
Current N/P to banks
Notes Payable to Banks
Other Liabilities
Common Stock
Additional Paid-In Capital-Common Stock
Retained Earnings
Sales
Cost of Goods Sold
Bank Fees
Employee Benefits
Rent Expense
Salaries and Wages
Telephone & Utilities
Taxes - FUTA Expense
Taxes - FICA Expense
Taxes - Medicare Expense
Taxes - SUTA Expense
Interest Expense

109,520

Debit

Credit

372,107.33
10.00
137,000.00
2,000.00
37,000.00
265,500.00
15,500.00
110,000.00
43,660.19
93,516.51
65,000.00
5,000.00
495,000.00
59,340.08
425,000.00
260,760.00
330.00
1,375.00
24,750.00
189,200.00
5,300.00
168.00
11,730.40
2,743.40
1,026.00
5,016.65
1,314,016.78

1,314,016.78

To input beginning balances. Input by GL Clerk

12

30

GJ2
5600 Depreciation Expense
1505 Accumulated Depreciation

22,287.50
22,287.50

22,287.50
22,287.50

7,105
To record annual Depreciation Expense per Fixed Asset Subledger

12

31

GJ3
5400 Bank Fees
5600
Depreciation

320
320

Misplacement of Hash Tags


12

12

12

12

12

31

31

31

31

31

GJ4
5300 Bad Debt Expense

1205
Allowance for Doubtful Accounts

Miscalculation of Bad Debt Expense


GJ5
5400 Bank Fees

1100
Operating Account-Cash

Missing bank fees from bank reconciliation reports


GJ6
1240 Notes Receivable

9100
Interest Income

Correct Interest Payment


GJ7
4700 Shrinkage and Waste

1300
Inventory

Missing 2 items from item 20, placed in the shrinkage account


GJ8
6100 Life Insurance

5900 Insurance

1410
Prepaid Insurance

Missing Expense from Prepaid Insurance


GJ9

221218490.xls.ms_office; General Journal

Page 18 of 25

660
660

30
30

375
375

3000
3000

500
1000
1500

General Journal
Date
12
31

12

12

12

12

31

31

31

31

Posted
GL Acct#
Explanation
Ref
1500 Fixed Assets

5100
Accounting Fees

Correction of misplacement in the accounting fees ledger


GJ10
5200 Advertising

2100
Accounts Payable

missing entry in the Adverising Bill from the Purchases Journal


GJ11
6500 Salaries & Wages

5600
Depreciation Expense

Correction of Salaries & Wages


GJ12
8200 FICA Expense

8100
FUTA Expense

Adjustment of accounts from FUTA to FICA


GJ13
9000 Interest Expense

2190
Interest Payable

Missing Interest expense

221218490.xls.ms_office; General Journal

Page 19 of 25

Debit

Credit
8000
8000

2000
2000

17,200
17,200

1066.4
1066.4

7800
7800

General Journal
Date

GL Acct#

Posted
Ref

Explanation

221218490.xls.ms_office; General Journal

Page 20 of 25

Debit

Credit

Payroll Journal
DEBIT

Employee
Name

Date
EMPLOYEE:
12
30
12
30
12
30
12
30

Employee 10
Employee 20
Employee 30
Employee 40

Total

Posted
Ref
Acct #

Gross Pay
6500

Federal
Withholding
2150

FICA
(6.2%)
2160

Medicare
Withheld
(1.45%)
2165

Medical
Insurance
$80 Single
$140 Married
Firm pays 25%
2100

Net Pay
1110

3,200.00
3,500.00
5,000.00
5,500.00

236.00
217.00
851.00
426.00

198.40
217.00
310.00
341.00

46.40
50.75
72.50
79.75

105.00
105.00
60.00
105.00

2,614.20
2,910.25
3,706.50
4,548.25

17,200.00

1,730.00

1,066.40

249.40

375.00

13,779.20

Zero Balance Check:


0=17,200-1,730-1,066.40-249.4-375-13,779.20

221218490.xls.ms_office; Payroll Journal

CREDIT

Posted to
Subledger V10

Check No.

1045
1046
1047
1048

Cash Receipts Journal


DEBIT
Description

Date

Cash

1100
12
12
12
12
12

3
5
10
15
31

Customer 30
Customer 40
Customer 10
Customer 20
Note Payment
Total

60,000.00
35,280.00
20,000.00
25,000.00
2,281.65
142,561.65

Zero Balance Check:


0 = 142,561.65+720-141,000-2281.65

221218490.xls.ms_office; Cash Receipts Journal

CREDIT

Sales Discount

4180

720.00

Accounts Receivable 1200


A/R
Subsidiary
Acct
C30
C40
C10
C20

Amount
60,000.00
36,000.00
20,000.00
25,000.00

Other Account

Posted
Ref

GL Acct #

1240

720.00

141,000.00

Amount

Posted
Ref

2,281.65
2,281.65

Sales Journal
DEBIT

Description

Date
12
12
12
12
12
12

2
5
10
20
28
30

Customer 40
Customer 30
Customer 40
Customer 10
Customer 20
Customer 20

Invoice/
A/R
Credit Memo Subsidiary
#
Acct
1201
1202
1203
1204
1205
CM01

Total

Zero Balance Check:


137,000+3,000-140,000 = 0
78,000-78,000 = 0

221218490.xls.ms_office; Sales Journal

C40
C30
C40
C10
C20
C20

Posted
Ref

CREDIT

Accounts
Receivable
Sales Return
1200
4190
24,000.00
48,000.00
36,000.00
8,000.00
24,000.00
(3,000.00)
3,000.00
137,000.00

3,000.00

COGS
4500
12,000.00
32,000.00
18,000.00
4,000.00
12,000.00

78,000.00

Inventory
Subsidiary
Acct

Posted
Ref

I30
I40
I20
I10
I30

Inventory
1300
12,000.00
32,000.00
18,000.00
4,000.00
12,000.00

Sales
4100
24,000.00
48,000.00
36,000.00
8,000.00
24,000.00

78,000.00

140,000.00

Purchases Journal
DEBIT
Other Acct

Date

Vendor

12
12

2
3

12

12
12
12
12
12
12

15
15
15
30
30
30

Vendor
Invoice #

Inventory
1300

GL Acct #

Vendor 20 - Fixed Asset


V123
Vendor 30
V456
75,000.00
10 Units - Item 10, 10 Units - Item 20, 5 Units-Item 30, 10 Units item 40
Vendor 30
V457
60,000.00
15 Units - Item 40
Repair Bill
V810
Dues
V907
Phone Bill
V654
Accounting Bill
V222
Advertising Bill
VA01
Legal Bill
V723
Total
Zero Balance Check:
0=135,000+38,900-173,900

221218490.xls.ms_office; Purchases Journal

135,000.00

1500

6400
5700
6700
5100
5200
6000

Amount
8,000.00

1,545.00
500.00
355.00
17,000.00
2,500.00
9,000.00
38,900.00

CREDIT
ACCOUNTS PAYABLE - 2100
Posted
Ref

A/P Subs.
Acct #

Amount

V20
V30

8,000.00
75,000.00

V30

60,000.00

V40
V40
V70
V50
V40
V60

1,545.00
500.00
355.00
17,000.00
2,500.00
9,000.00

173,900.00

Posted
Ref

Cash Disbursement Journal


CREDIT

DEBIT
Other Accounts

ACCOUNTS PAYABLE - 2100

Date
12
12
12
12
12
12
12
12
12
12
12
12

1
1
5
15
30
30
30
30
30
30
30
30

Check #
2010
2011
2012
2013
2014
2015
n/a
2016
2017
2018
2019
2020

Description
Vendor 30
Loan (Promissory Note)
Insurance (Life, General)
Vendor 30
Freight Bill
Rent
Transfer to Payroll
Federal Withholding
FICA
Medicare
Medical Insurance
First Bank (Note Payable)

Zero Balance Check:


0=367,529.15-245,375-120,438.25-1715.90

221218490.xls.ms_office; Cash Disbursement Journal

Cash
1100

A/P Subs.
Acct #

Amount

Posted
Ref

110,000.00 V30
75,000.00
18,000.00
135,000.00 V30
5,000.00
2,250.00
13,779.20
1,730.00
2,132.80
498.80
500.00 V10
3,638.35

110,000.00

367,529.15

245,375.00

135,000.00

375.00

GL Acct #

Amount

Other Accounts
Posted
Ref

1240
1410

75,000.00
18,000.00

4800
6300
1110
2150
2160
2165
5800
2700

5,000.00
2,250.00
13,779.20
1,730.00
1,066.40
249.40
125.00
3,238.25

GL Acct #

Amount

Posted
Ref

120,438.25

8200
8250

1,066.40
249.40

9000

400.10

1,715.90