Account Description Debit Credit

1100 Cash - Operating Account 147,109.83

1110 Cash - Payroll 10.00
1130 Petty Cash -
1200 Accounts Receivable 133,000.00
1205 Allowance for Doubtful Accounts 2,660.00
1230 Interest Receivable -
1240 Notes Receivable 73,093.35
1300 Inventory 91,000.00
1410 Prepaid Insurance 16,500.00
1500 Fixed Assets - Furniture & Fixtures 273,500.00
1505 Accumulated Depreciation-Fixed Assets 37,787.50
2100 Accounts Payable 40,900.00
2150 Federal Withholding Payable -
2160 FICA Payable -
2165 Medicare payable -
2170 FUTA Payable -
2180 TX state SUTA payable -
2190 Interest Payable 7,800.00
2200 Federal Income Tax Payable -
2220 Current N/P to banks 39,603.65
2700 Notes Payable to Banks 94,334.80
2710 Other Liabilities 65,000.00
3100 Common Stock 5,000.00
3120 Additional Paid-In Capital-Common Stock 495,000.00
3200 Retained Earnings 59,340.08
4100 Sales 565,000.00
4180 Sales Discount 720.00
4190 Sales Returns 3,000.00
4500 Cost of Goods Sold 338,760.00
4700 Shrinkage and Waste 3,000.00
4800 Freight and Handling 5,000.00
5100 Accounting Fees 17,000.00
5200 Advertising Expense 4,500.00
5300 Bad Debts Expense 660.00
5400 Bank Fees 360.00
5600 Depreciation Expense 22,287.50
5700 Dues & Subscription 500.00
5800 Employee Benefits 1,500.00
5900 Insurance 1,000.00
6000 Legal Fees 9,000.00
6100 Life Insurance - Administration 500.00
6250 Postage -
6300 Rent Expense 27,000.00
6400 Repairs & Maintenance Expense 1,545.00
6500 Salaries and Wages 206,400.00
6600 Supplies -
6700 Telephone & Utilities 5,655.00
8000 Taxes - Federal Income -
8100 Taxes - FUTA Expense 168.00
8200 Taxes - FICA Expense 12,796.80
8250 Taxes - Medicare Expense 2,992.80
8400 Taxes - SUTA Expense 1,026.00
9000 Interest Expense 13,216.75
9100 Interest Income 375.00
9200 Miscellaneous Income/Expense -
1,412,801.03 1,412,801.03
-
Pre-Adjustment Trial Balance
December 31, 2013
234952399.xlsx.ms_office Adjusted Trial Balance
4100 Sales 565,000.00
4180 Sales Discount 720.00
4190 Sales Returns 3,000.00
4500 Cost of Goods Sold 338,760.00
4700 Shrinkage and Waste -
4800 Freight and Handling 5,000.00
5100 Accounting Fees 17,000.00
5200 Advertising Expense -
5300 Bad Debts Expense 660.00
5400 Bank Fees 360.00
5600 Depreciation Expense 22,287.50
5700 Dues & Subscription 500.00
5800 Employee Benefits 1,500.00
5900 Insurance -
6000 Legal Fees 9,000.00
6100 Life Insurance - Administration -
6250 Postage -
6300 Rent Expense 27,000.00
6400 Repairs & Maintenance Expense 1,545.00
6500 Salaries and Wages 206,400.00
6600 Supplies -
6700 Telephone & Utilities 5,655.00
8000 Taxes - Federal Income -
8100 Taxes - FUTA Expense 168.00
8200 Taxes - FICA Expense 12,796.80
8250 Taxes - Medicare Expense 2,992.80
8400 Taxes - SUTA Expense 1,026.00
9000 Interest Expense 13,216.75
9100 Interest Income -
9200 Miscellaneous Income/Expense -
Net Income (104,587.85)
Tax rate 35%
Income Tax -
Account Description Debit Credit
1100 Cash - Operating Account 147,139.83
1110 Cash - Payroll 10.00
1130 Petty Cash -
1200 Accounts Receivable 133,000.00
1205 Allowance for Doubtful Accounts 2,000.00
1230 Interest Receivable -
1240 Notes Receivable 72,718.35
1300 Inventory 94,000.00
1410 Prepaid Insurance 18,000.00
1500 Fixed Assets - Furniture & Fixtures 265,500.00 x
1505 Accumulated Depreciation-Fixed Assets 37,787.50
2100 Accounts Payable 38,900.00
2150 Federal Withholding Payable -
2160 FICA Payable -
2165 Medicare payable -
2170 FUTA Payable -
2180 TX state SUTA payable -
2190 Interest Payable -
2200 Federal Income Tax Payable -
2220 Current N/P to banks 43,660.19 We use both of these accounts
2700 Notes Payable to Banks 90,278.26 133,938.45
2710 Other Liabilities 65,000.00
3100 Common Stock 5,000.00
3120 Additional Paid-In Capital-Common Stock 495,000.00
3200 Retained Earnings 59,340.08
4100 Sales 565,000.00
4180 Sales Discount 720.00
4190 Sales Returns 3,000.00
4500 Cost of Goods Sold 338,760.00
4700 Shrinkage and Waste -
4800 Freight and Handling 5,000.00
5100 Accounting Fees 25,000.00
5200 Advertising Expense 2,500.00
5300 Bad Debts Expense -
5400 Bank Fees -
5600 Depreciation Expense 39,817.50
5700 Dues & Subscription 500.00
5800 Employee Benefits 1,500.00
5900 Insurance -
6000 Legal Fees 9,000.00
6100 Life Insurance - Administration -
6250 Postage -
6300 Rent Expense 27,000.00
6400 Repairs & Maintenance Expense 1,545.00
6500 Salaries and Wages 189,200.00
6600 Supplies -
6700 Telephone & Utilities 5,655.00
8000 Taxes - Federal Income -
8100 Taxes - FUTA Expense 1,234.40
8200 Taxes - FICA Expense 11,730.40
8250 Taxes - Medicare Expense 2,992.80
8400 Taxes - SUTA Expense 1,026.00
9000 Interest Expense 5,416.75
9100 Interest Income -
9200 Miscellaneous Income/Expense -
1,401,966.03 1,401,966.03
-
Pre-Adjustment Trial Balance
December 31, 2013
234952399.xlsx.ms_office Trial Balance
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 372,107.33 372,107.33
12 30 CD 367,529.15 4,578.18
12 30 CR 142,561.65 147,139.83
12 31 Bank Fees-December GJ13 30 147,109.83
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 10.00 10.00
12 30 PR 13,779.20 13,769.20
12 30 CD 13,779.20 10.00
Account not used -
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 137,000.00 137,000.00
12 30 SJ 137,000.00 274,000.00
12 30 CR 141,000.00 133,000.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 2,000.00 2,000.00
Dec 31 Adjustment to Bad Debt- 2c GJ4 660.00 2,660.00
Cash - Operating Account
Account 1100
General Ledger
Account 1110
Cash - Payroll
Account 1130
Account 1200
Accounts Receivable
Account 1205
Allowance for Doubtful Accounts
234952399.xlsx.ms_office; General Ledger - Students Page 4 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Record interest owed-2d GJ5 375.00 375.00
12 31 Record interest payment-2d GJ6 375.00 -
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 1 CD 75,000.00 75,000.00
12 31 CR 2,281.65 72,718.35
12 31 Adjustment for interest-2d GJ6 375.00 73,093.35
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 37,000.00 37,000.00
12 30 SJ 78,000.00 41,000.00
12 30 PJ 135,000.00 94,000.00
12 31 2e- Shrinkage and waste GJ7 3,000.00 91,000.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 CD 18,000.00 18,000.00
12 31 Expensing 1/12- 2f GJ8 1,500.00 16,500.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 265,500.00 265,500.00
Dec 30 Item 40-2g GJ11 8,000.00 273,500.00
Account 1240
Notes Receivable
Account 1300
Inventory
Interest Receivable
Account 1230
Account 1410
Prepaid Insurance
Account 1500
Fixed Assets - Furniture and Fixtures
234952399.xlsx.ms_office; General Ledger - Students Page 5 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 15,500.00 15,500.00
12 30 GJ2 22,287.50 37,787.50
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 110,000.00 110,000.00
12 30 PR 375.00 110,375.00
12 30 PJ 173,900.00 284,275.00
12 30 CD 245,375.00 38,900.00
12 31 Adjustment to VA01-2h GJ9 2,000.00 40,900.00
ACCOUNT NOT ACTIVE
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 PR 1,730.00 1,730.00
12 30 CD 1,730.00 0.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 PR 1,066.40 1,066.40
12 30 CD 1,066.40 0.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 PR 249.40 249.40
12 30 CD 249.40 0.00
Account 1505
Accumulated Depreciation Fixed Assets
Account 2150
Federal Withholding Payable
Account 2100
Accounts Payable
Account 2140
Account 2160
FICA Payable
Account 2165
Medicare Payable
234952399.xlsx.ms_office; General Ledger - Students Page 6 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Interest on line of credit GJ15 7,800.00 7,800.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Income tax 2013 GJ16 -

ACCOUNT NOT IN USE
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 43,660.19 43,660.19
12 31 Correction for interest-2j GJ14 4,056.54 39,603.65

TX State SUTA Payable
Account 2190
Interest Payable
Account 2200
Federal Income Tax Payable
Account 2210
Account 2220
Current NP to Banks
Account 2180
Account 2170
FUTA Payable
234952399.xlsx.ms_office; General Ledger - Students Page 7 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 93,516.51 93,516.51
12 30 CD 3,238.25 90,278.26
12 31 Correction for interest-2j GJ14 4,056.54 94,334.80
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 65,000.00 65,000.00
65,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 5,000.00 5,000.00


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 495,000.00 495,000.00


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 59,340.08 59,340.08


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 425,000.00 425,000.00
12 30 SJ 140,000.00 565,000.00

Retained Earnings
Account 4100
Sales
Account 2700
Notes Payable to Banks
Account 2710
Other Liabilities
Account 3100
Common Stock
Account 3120
Additional Paid-In Capital - CS
Account 3200
234952399.xlsx.ms_office; General Ledger - Students Page 8 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward
12 30 CR 720.00 720.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward
12 30 SJ 3,000.00 3,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 260,760.00 260,760.00
12 30 SJ 78,000.00 338,760.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward
12 31 Shrinkage and Waste-2e GJ7 3,000.00 3,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 CD 5,000.00 5,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 PJ 8,000.00 8,000.00
12 31 PJ 17,000.00 25,000.00
12 31 Adjustment to fixed asset GJ11 8,000.00 17,000.00

Account 4700
Shrinkage and Waste
Account 4800
Freight and Handling
Account 5100
Accounting Fees
Account 4180
Sales Discount
Account 4190
Sales Returns
Account 4500
Cost of Goods Sold
234952399.xlsx.ms_office; General Ledger - Students Page 9 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 PJ 2,500.00 2,500.00
12 31 Adjustment to VA01 GJ9 2,000.00 4,500.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
Dec 31 Adjustment for Allow. Doubtful 2c GJ4 660.00 660.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Correction GJ1- 1c GJ3 330.00 330.00
12 31 Bank fees- December GJ13 30.00 360.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 330.00 330.00
12 30 PR 17,200.00 17,530.00
12 30 GJ2 22,287.50 39,817.50
12 31 Correct GJ1- 1c GJ3 330.00 39,487.50
12 31 Correct for payroll-2i GJ12 17,200.00 22,287.50
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 15 PJ 500.00 500.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 1,375.00 1,375.00
12 30 CD 125.00 1,500.00

Bad Debts Expense
Account 5400
Bank Fees
Account 5600
Depreciation Expense
Account 5700
Dues & Subscription
Account 5800
Employee Benefits
Account 5200
Advertising Expense
Account 5300
234952399.xlsx.ms_office; General Ledger - Students Page 10 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Prepaid-2f GJ8 1,000.00 1,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 30 PJ 9,000.00 9,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
Dec 31 Record expense-2f GJ8 500.00 500.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 24,750.00 24,750.00
12 30 CD 2,250.00 27,000.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 15 PJ 1,545.00 1,545.00

Insurance
Account 6000
Legal Fees
Account 5900
Repairs & Maintenance Expense
Account 6100
Life Insurance - Administration
Account 6250
Postage
Account 6300
Rent Expense
Account 6400
234952399.xlsx.ms_office; General Ledger - Students Page 11 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 189,200.00 189,200.00
12 31 December payroll- 2i GJ12 17,200.00 206,400.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 5,300.00 5,300.00
12 15 PJ 355.00 5,655.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 2013 income tax GJ16 - 0.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 168.00 168.00
12 30 CD 1,066.40 1,234.40
12 31 Adjustment to tax expense GJ10 1,066.40 168.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 11,730.40 11,730.40
12 31 Adjustment to tax expense GJ10 1,066.40 12,796.80

Account 6500
Salaries and Wages
Taxes - Federal Income
Account 8100
Taxes - FUTA Expense
Account 8200
Taxes - FICA Expense
Account 6600
Supplies
Account 6700
Telephone & Utilities
Account 8000
234952399.xlsx.ms_office; General Ledger - Students Page 12 of 27
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 2,743.40 2,743.40
12 30 CD 249.40 2,992.80

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 1,026.00 1,026.00

Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward GJ1 5,016.65 5,016.65
12 30 CD 400.10 5,416.75
12 31 Interest for bank credit GJ15 7,800.00 13,216.75


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00
12 31 Payment for N/R-2d GJ5 375.00 375.00


Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 0.00


Miscellaneous Income/Expense
Taxes - SUTA Expense
Account 9000
Interest Expense
Account 9100
Interest Income
Account 8250
Taxes - Medicare Expense
Account 8300
Account 8400
Account 9200
Account Not in Use
234952399.xlsx.ms_office; General Ledger - Students Page 13 of 27
Account Receivable Subsidiary Ledger
Accounts Receivable Account 1200
C 10
Customer 10 Credit Terms: 2/10, Net 30
Credit Limit: $25,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward (from November) 20,000.00
12 10 CR 20,000.00 -
12 20 SJ 8,000.00 8,000.00
C 20
Customer 20 Credit Terms: 2/10, Net 30
Credit Limit: $50,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward (from October) 45,000.00
12 15 CR 25,000.00 20,000.00
12 28 Inv 1205 SJ 24,000.00 44,000.00
12 30 CM 01 SJ 3,000.00 41,000.00
C 30
Customer 30 Credit Terms: 2/10, Net 30
Credit Limit: $75,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward (from November) 60,000.00
12 3 CR 60,000.00 -
12 5 Inv 1202 SJ 48,000.00 48,000.00
C40
Customer 40 Credit Terms: 3/10, Net 30
Credit Limit: $45,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward (from November) 12,000.00
12 2 Inv 1201 SJ 24,000.00 36,000.00
12 5 Open Balance CR 36,000.00 -
12 10 Inv 1203 SJ 36,000.00 36,000.00
234952399.xlsx.ms_office; Subsidiary Ledger-AR
Inventory Subsidiary Ledger
Inventory Account 1300
I 10
Item 10 Preferred Vendor: Vendor 30
Current Cost: $1,000 Retail Sales Price: $2,000 (Price Increase from $1,500)
Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 5,000.00 5.00
12 3 PJ 10,000.00 15,000.00 10.00 15.00
12 20 SJ 4,000.00 11,000.00 4.00 11.00
I 20
Item 20 Preferred Vendor: Vendor 30
Current Cost: $1,500 Retail Sales Price: $3,000 (Price Increase from $2,000)
Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 6,000.00 4.00
12 3 PJ 15,000.00 21,000.00 10.00 14.00
12 10 SJ 18,000.00 3,000.00 12.00 2.00
12 31 Shrinkage and Waste-2e GJ7 3,000.00 - 2.00 -
I 30
Item 30 Preferred Vendor: Vendor 30
Current Cost: $2,000 Retail Sales Price: $4,000 (Price Increase from $3,000)
Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 14,000.00 7.00
12 3 PJ 10,000.00 24,000.00 5.00 12.00
12 28 SJ 12,000.00 12,000.00 6.00 6.00
12 31 Correction for sale- 2e SJ 12,000.00 $ - $ 6.00 -
I 40
Item 40 Preferred Vendor: Vendor 30
Current Cost: $4,000 Retail Sales Price: $6,000 (Price Increase from $5,000)
Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 12,000.00 3.00
12 3 PJ 40,000.00 52,000.00 10.00 13.00
12 5 SJ 32,000.00 20,000.00 8.00 5.00
12 6 PJ 60,000.00 80,000.00 15.00 20.00
Stock Item
Quantity
Stock Item
Stock Item
Quantity
Quantity
Stock Item
Quantity
234952399.xlsx.ms_office; Subsidiary Ledger-Inventory
Fixed Asset Subsidiary Ledger
Fixed Assets - Furnitures and Fixtures Account 1500
Item 10 F10
Purchase Date: March 1, 2012 Depreciation Method: Straight Line Annual Depreciation 18,000.00 $
Disposal Date: n/a Salvage Value: 20,000.00 $ Useful Life 10 Years
Vendor: Vendor 20 Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 200,000.00 15,000.00 15,000.00
12 30 GJ 18,000.00 33,000.00
Item 20 F20
Purchase Date: November 2, 2012 Depreciation Method: Straight Line Annual Depreciation 3,000.00 $
Disposal Date: n/a Salvage Value: 500.00 $ Useful Life 5 Years
Vendor: Vendor 20 Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 15,500.00 500.00 500.00
12 30 GJ 3,000.00 3,500.00
Item 30 F30
Purchase Date: October 1, 2013 Depreciation Method: Straight Line Annual Depreciation 4,500.00
Disposal Date: n/a Salvage Value: 5000 Useful Life 10 Years Accumulated Depreciation
Vendor: Vendor 20 Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 50,000.00
12 30 GJ 1,125.00 1,125.00
Item 40 F40
Purchase Date: December 2, 2013 Depreciation Method: Straight Line Annual Depreciation 1,950.00
Disposal Date: n/a Salvage Value: 200 Useful Life 4 Years Accumulated Depreciation
Vendor: Vendor 20 Ref Debit Credit Debit Balance Credit Balance Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward
12 30 PJ 8,000.00 8,000.00
12 30 GJ 162.50 162.50
Accumulated Depreciation
Accumulated Depreciation
234952399.xlsx.ms_office; Subsidiary Ledger-Fixed Assets
Account Payable Subsidiary Ledger
Accounts Payable Account 2100
V10
Vendor 10 Credit Terms: Net 30 days
Medical Insurance Vendor Credit Limit: $5,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward -
12 30 PR 375.00 375.00
12 30 CD 375.00 -
V20
Vendor 20 Credit Terms: 2/10, Net 30
Fixed Asset Vendor Credit Limit: $150,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward
12 2 PJ 8,000.00 8,000.00
V30
Vendor 30 Credit Terms: 2/10, Net 30
Inventory Vendor Credit Limit: $150,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward 110,000.00
12 1 CD 110,000.00 -
12 3 PJ 75,000.00 75,000.00
12 6 PJ 60,000.00 135,000.00
12 15 CD 135,000.00 -
V40
Vendor 40 Credit Terms: 2/10, Net 30
General Supplies & Misc. Vendors Credit Limit: $75,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward -
12 15 Repair Bill V 810 PJ 1,545.00 1,545.00
12 15 Dues V 907 PJ 500.00 2,045.00
12 30 Advertising Bill VA01 PJ 2,500.00 4,545.00
12 31 Adjustment to bill VA01 GJ9 2,000.00 6,545.00
234952399.xlsx.ms_office; Subsidiary Ledger-AP Page 17 of 27
Account Payable Subsidiary Ledger
Accounts Payable Account 2100
V50
Vendor 50 Credit Terms: Net 30
Accounting Vendor Credit Limit: $75,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward -
12 30 Accounting Bill V 222 PJ 17,000.00 17,000.00
V60
Vendor 60 Credit Terms: Net 30
Legal Vendor Credit Limit: $75,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward -
12 30 Legal Bill V723 PJ 9,000.00 9,000.00
V70
Vendor 70 Credit Terms: Net 30
Telephone and Utilities Vendor Credit Limit: $75,000
Ref Debit Credit Debit Balance Credit Balance
Dec 1 Balance Forward -
12 15 Utilities Bill V654 PJ 355.00 355.00
234952399.xlsx.ms_office; Subsidiary Ledger-AP Page 18 of 27
Salaries and Wages Subsidiary Ledger
Salaries and Wages Account 6500
Salaried: $3,200 per month; Firm pays 25% of medical insurance P10
W-4 Filed, Married, 0 $236.00 / period 0.062 0.0145 $105/period
Ref Gross Federal W/H Social Security Medicare
Medical
Insurance Net Pay Check #
Dec 1 Balance Forward PR 35,200.00 2,596.00 2,182.40 510.40 1,155.00 28,756.20
12 30 PR 3,200.00 236.00 198.40 46.40 105.00 2,614.20 1045
2013 Total 38,400.00 2,832.00 2,380.80 556.80 1,260.00 31,370.40
Zero Balance Check: 38400-2832-2380.8-556.8-1260-31370.40
Salaried: $3,500 per month; Firm pays 25% of medical insurance P20
W-4 Filed, Married, 2 $217.00 / period 0.062 0.0145 $105
Ref Gross Federal W/H Social Security Medicare
Medical
Insurance Net Pay Check #
Dec 1 Balance Forward PR 38,500.00 2,387.00 2,387.00 558.25 1,155.00 32,012.75
12 30 PR 3,500.00 217.00 217.00 50.75 105.00 2,910.25 1046
2013 Total 42,000.00 2,604.00 2,604.00 609.00 1,260.00 34,923.00
Zero Balance Check: +42000-2604-2604-609-1260-34923
Salaried: $5,000 per month; Firm pays 25% of medical insurance P30
W-4 Filed, Single 0 $851.00 / period 0.062 0.0145 $60
Ref Gross Federal W/H Social Security Medicare
Medical
Insurance Net Pay Check #
Dec 1 Balance Forward PR 55,000.00 9,361.00 3,410.00 797.50 660.00 40,771.50
12 30 PR 5,000.00 851.00 310.00 72.50 60.00 3,706.50 1047
2013 Total 60,000.00 10,212.00 3,720.00 870.00 720.00 44,478.00
Zero Balance Check: 60000-10212-3720-870-720-44478
Salaried: $5,500 per month; Firm pays 25% of medical insurance P40
W-4 Filed, Married 4 $426.00 / period 0.062 0.0145 $105
Ref Gross Federal W/H Social Security Medicare
Medical
Insurance Net Pay Check #
Dec 1 Balance Forward PR 60,500.00 4,686.00 3,751.00 877.25 1,155.00 50,030.75
12 30 PR 5,500.00 426.00 341.00 79.75 105.00 4,548.25 1048
2013 Total 66,000.00 5,112.00 4,092.00 957.00 1,260.00 54,579.00
Zero Balance Check: 66000-5122-4092-957-1260-54579
Employee 10
Employee 20
Employee 30
Employee 40
234952399.xlsx.ms_office; Subsidiary Ledger - Wages&Sal
GL Acct# Explanation
Posted
Ref Debit Credit
GJ1
1100 Cash - Operating Account 372,107.33
1110 Cash - Payroll 10.00
1200 Accounts Receivable 137,000.00
1205 Allowance for Doubtful Accounts 2,000.00
1300 Inventory 37,000.00
1500 Fixed Assets - Furniture and Fixtures 265,500.00
1505 Accumulated Depreciation-Fixed Assets 15,500.00
2100 Accounts Payable 110,000.00
2220 Current N/P to banks 43,660.19
2700 Notes Payable to Banks 93,516.51
2710 Other Liabilities 65,000.00
3100 Common Stock 5,000.00
3120 Additional Paid-In Capital-Common Stock 495,000.00
3200 Retained Earnings 59,340.08
4100 Sales 425,000.00
4500 Cost of Goods Sold 260,760.00
5600 Bank Fees 330.00
5800 Employee Benefits 1,375.00
6300 Rent Expense 24,750.00
6500 Salaries and Wages 189,200.00
6700 Telephone & Utilities 5,300.00
8100 Taxes - FUTA Expense 168.00
8200 Taxes - FICA Expense 11,730.40
8250 Taxes - Medicare Expense 2,743.40
8400 Taxes - SUTA Expense 1,026.00
9000 Interest Expense 5,016.65
109,520 1,314,016.78 1,314,016.78

To input beginning balances. Input by GL Clerk
GJ2
12 30 5600 Depreciation Expense 22,287.50
1505 Accumulated Depreciation 22,287.50
22,287.50 22,287.50
7,105
To record annual Depreciation Expense per Fixed Asset Subledger
GJ3
12 31 5400 Bank Fees 330
12 31 5600 Depreciation Expense 330
Correcting GJ1- 1c
GJ4
12 31 5300 Bad Debt Expense 660
12 31 1205 Allowance for Doubtful Accounts 660
Adjustment to AFDA- 2c
GJ5
12 31 1230 Interest Receivable 375.00
12 31 9100 Interest Income 375.00
GJ6
12 31 1240 Notes Receivable 375.00 $
12 31 1230 Interest Receivable 375.00 $
GJ7
12 31 4700 Shrinkage and Waste 3,000.00 $
12 31 1300 Inventory 3,000.00 $
GJ8- 2f
Date
General Journal
Hash
Total
234952399.xlsx.ms_office; General Journal Page 20 of 27
GL Acct# Explanation
Posted
Ref Debit Credit Date
General Journal
12 31 5900 Insurance 1,000.00 $
12 31 6100 Life Insurance- Administration 500.00 $
12 31 1410 Prepaid insurance 1,500.00 $
GJ9-2h
12 31 5200 Advertising Exp 2,000.00 $
`12 31 2100 A/P 2,000.00 $
GJ10
12 31 8200 FICA tax exp. 1,066.40 $
12 31 8100 FUTA tax exp. 1,066.40 $
GJ11
12 31 1500 Fixed Assets 8,000.00 $
12 31 5100 Accounting Fees 8,000.00 $
GJ12
12 31 6500 Salaries and Wages 17,200.00 $
12 31 5600 Depreciation expense 17,200.00 $
GJ13
12 31 5400 Bank Fees 30.00 $
12 31 1100 Cash 30.00 $
December Bank Fees
GJ14- 2j
12 31 2220 Current NP 4,056.54
12 31 2700 N/P to Banks 4,056.54
Account for interest in payments- 2j
GJ15
12 31 9000 Interest expense 7,800.00
12 31 2190 Interest Payable 7,800.00
46392.94 46392.94
234952399.xlsx.ms_office; General Journal Page 21 of 27
GL Acct# Explanation
Posted
Ref Debit Credit Date
General Journal
234952399.xlsx.ms_office; General Journal Page 22 of 27
Payroll Journal
DEBIT
Employee
Name
Posted
Ref Gross Pay
Federal
Withholding
FICA
(6.2%)
Medicare
Withheld
(1.45%)
Medical
Insurance
$80 Single
$140 Married
Firm pays 25% Net Pay Check No.
Acct # 6500 2150 2160 2165 2100 1110
EMPLOYEE:
12 30 Employee 10 3,200.00 236.00 198.40 46.40 105.00 2,614.20 1045
12 30 Employee 20 3,500.00 217.00 217.00 50.75 105.00 2,910.25 1046
12 30 Employee 30 5,000.00 851.00 310.00 72.50 60.00 3,706.50 1047
12 30 Employee 40 5,500.00 426.00 341.00 79.75 105.00 4,548.25 1048
Total 17,200.00 1,730.00 1,066.40 249.40 375.00 13,779.20

Zero Balance Check:
Posted to
Subledger V10
0=17,200-1,730-1,066.40-249.4-375-13,779.20
Date
CREDIT
234952399.xlsx.ms_office; Payroll Journal
Cash Receipts Journal
Description Cash Sales Discount
1100 4180
A/R
Subsidiary
Acct Amount
Posted
Ref GL Acct # Amount
Posted
Ref
12 3 Customer 30 60,000.00 C30 60,000.00
12 5 Customer 40 35,280.00 720.00 C40 36,000.00
12 10 Customer 10 20,000.00 C10 20,000.00
12 15 Customer 20 25,000.00 C20 25,000.00
12 31 Note Payment 2,281.65 1240 2,281.65
Total 142,561.65 720.00 141,000.00 2,281.65

Zero Balance Check:
0 = 142,561.65+720-141,000-2281.65
CREDIT
Date
DEBIT
Accounts Receivable 1200 Other Account
234952399.xlsx.ms_office; Cash Receipts Journal
Sales Journal
Description
Invoice/
Credit Memo
#
A/R
Subsidiary
Acct
Posted
Ref
Accounts
Receivable Sales Return COGS
Inventory
Subsidiary
Acct
Posted
Ref Inventory Sales
1200 4190 4500 1300 4100
12 2 Customer 40 1201 C40 24,000.00 12,000.00 I30 12,000.00 24,000.00
12 5 Customer 30 1202 C30 48,000.00 32,000.00 I40 32,000.00 48,000.00
12 10 Customer 40 1203 C40 36,000.00 18,000.00 I20 18,000.00 36,000.00
12 20 Customer 10 1204 C10 8,000.00 4,000.00 I10 4,000.00 8,000.00
12 28 Customer 20 1205 C20 24,000.00 12,000.00 I30 12,000.00 24,000.00
12 30 Customer 20 CM01 C20 (3,000.00) 3,000.00
Total 137,000.00 3,000.00 78,000.00 78,000.00 140,000.00

Zero Balance Check:
137,000+3,000-140,000 = 0
78,000-78,000 = 0
CREDIT
Date
DEBIT
234952399.xlsx.ms_office; Sales Journal
Purchases Journal
Vendor
Vendor
Invoice #
Inventory
1300 GL Acct # Amount
Posted
Ref
A/P Subs.
Acct # Amount
Posted
Ref
12 2 Vendor 20 - Fixed Asset V123 1500 8,000.00 V20 8,000.00
12 3 Vendor 30 V456 75,000.00 V30 75,000.00
10 Units - Item 10, 10 Units - Item 20, 5 Units-Item 30, 10 Units item 40
12 6 Vendor 30 V457 60,000.00 V30 60,000.00
15 Units - Item 40
12 15 Repair Bill V810 6400 1,545.00 V40 1,545.00
12 15 Dues V907 5700 500.00 V40 500.00
12 15 Phone Bill V654 6700 355.00 V70 355.00
12 30 Accounting Bill V222 5100 17,000.00 V50 17,000.00
12 30 Advertising Bill VA01 5200 2,500.00 V40 2,500.00
12 30 Legal Bill V723 6000 9,000.00 V60 9,000.00
Total 135,000.00 38,900.00 173,900.00

Zero Balance Check:
0=135,000+38,900-173,900
Date
DEBIT
Other Acct
CREDIT
ACCOUNTS PAYABLE - 2100
234952399.xlsx.ms_office; Purchases Journal
Cash Disbursement Journal
CREDIT
Check # Description
Cash
1100
A/P Subs.
Acct # Amount
Posted
Ref GL Acct # Amount
Posted
Ref GL Acct # Amount
Posted
Ref
12 1 2010 Vendor 30 110,000.00 V30 110,000.00
12 1 2011 Loan (Promissory Note) 75,000.00 1240 75,000.00
12 5 2012 Insurance (Life, General) 18,000.00 1410 18,000.00
12 15 2013 Vendor 30 135,000.00 V30 135,000.00
12 30 2014 Freight Bill 5,000.00 4800 5,000.00
12 30 2015 Rent 2,250.00 6300 2,250.00
12 30 n/a Transfer to Payroll 13,779.20 1110 13,779.20
12 30 2016 Federal Withholding 1,730.00 2150 1,730.00
12 30 2017 FICA 2,132.80 2160 1,066.40 8200 1,066.40
12 30 2018 Medicare 498.80 2165 249.40 8250 249.40
12 30 2019 Medical Insurance 500.00 V10 375.00 5800 125.00
12 30 2020 First Bank (Note Payable) 3,638.35 2700 3,238.25 9000 400.10
367,529.15 245,375.00 120,438.25 1,715.90

Zero Balance Check:
0=367,529.15-245,375-120,438.25-1715.90
Date
DEBIT
Other Accounts Other Accounts ACCOUNTS PAYABLE - 2100
234952399.xlsx.ms_office; Cash Disbursement Journal