579 Mini Practice Set The Corner Dress Shop Estimated time 5 hours This Mini Practice Set will help you review all the key concepts of the accounting cycle for a merchandising company, along with the inte gration of payroll Betty Loeb took over the business now known as The Corner Dress Shop on January 1, 2022 Betty purchased the business name and all assets except cash from her Aunt Marion, who had run it for over ten years Certain liabilities were assumed by Bet ty's new business as part of the deal You are the bookkeeper of The Corner Dress Shop and have gathered the following infor mation It is your task to complete the ac counting cycle for March 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 28, 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 25, 2022 De Account Titles and Descripcion Cash Petty Cash Accounts Receivable Office Supplies Prepaid Rom Prepaid Insurance GST Pronald Inventory Computer and Office Equipment Aec Depo Computer Office Equipment Computer Software Acc Days Computer Software Delivery Track Mcc Da'n Delivery Track Accounts Payable Income Taxes Payable El Payable CPT Payable Medical Plan Payable Charitable Donations Payable GST Collected Rent Received in Advance Berry Lab, Capital Betty Loch, Withdraws Sales Cost of Goods Sold Was Esports CPP Expense El pense Incarance Espente Rent Espen Depinispense Computer Office Equipment Dep'in Expeme Sofie Dop'n Experte Delivery Track Accounting Expense Cr 3077531 5000 829185 62430 118 00 00 100 000 4 36 34 830 9 00 500 000 261 12 739 00 6158 12 000 00 34000 4788 99 110 882 408 79 810 30 11200 180 00 231365 60 000 45078 80 7300 00 59 86 505 19 073 58 18 12000 8 10 30 47692 200 00 1 800 00 261 12 6158 340 00 1 4 6000 118 929 10 118 92 9 10 580 Balances in subsidiary ledgers as of Feb ruary 28 Accounts Payable Accounts Receiv able Ronald $5,538 00 Blew Co $2,543 77 Co 1,510 22 Sally's Store 2,753 85 Dresses by Shel ley Silk 735 00 Magic Includes 5 GST Payroll is paid monthly, and employee claim codes are unchanged The payroll register for January and February Payroll is paid monthly, and employee claim codes are unchanged The payroll register for January and February is provided on pages 582 583 In March, salaries are as follows (all deductions are the same unless indicated) Mel Case $ Assume all income taxes 1,860 are calculated as 20 of gross wages Jane Holl 2,900 For CPP and El assume 0 0495 and 0 0188, re spectively (Remember to include the calculation for CPP exemption of $3,500 per year ) Jackie 4,300 Moore Required a Set up a general ledger, accounts re ceivable ledger, accounts payable ledger, auxiliary petty cash record, and payroll register (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28 ) b Journalize all transactions during March, using the special journals dis cussed in the text Assume this com pany uses the perpetual inventory method The practice set can be com pleted using either method of account ing for inventory If no specific method is indicated by your instruc tor, use the perpetual method As sume the cost of all inventory is 75 of its selling price c Prepare the payroll register for March d Update the accounts payable and ac counts receivable subsidiary ledgers for March e Post to the general ledger f Prepare a trial balance on a worksheet 9 33 e Post to the general ledger f Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022 g Prepare an income statement, state ment of owner's equity, and classified balance sheet h Journalize the adjusting and closing entries i Post the adjusting and closing entries to the ledger j Prepare a post closing trial balance The chart of accounts for The Corner Dress Shop is provided on the next page III X Continuing Problem Assets Liabilities 1110 Cash 2100 Accounts Payable 1115 Potty Cash 2200 Accrued Wages 1120 Accounts Receivable 2330 ncome Taxes Payable 1135 Office Supplies 2335 Payable 1140 Prepaid Rent 2340 CPP Payable 1145 Prepaid insurance 2350 Medical Plan Payable 1150 HST Prepaid 2360 Charitable Donations Payable 1210 Inventory 2400 ST Collected 1330 Computer and Office Equipment 2500 Rent Received in Advance 1335 Aco Dep'n Computer Office Equipment 1340 Computer Software 1345 Acc Depn Computer Software 1350 Delivery Truck 135 Act Depin Delivery truck Owner's Equity Revenue 3110 Betty Loeb Capita 4110 Sales 3120 Betty Loeb, withdrawal 4140 Sales Discounts 4150 Sales Returns Allowances Cost of Goods sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 Expense 5440 CPP Expense BE Continuing Problem 1345 ACC Lepn computer botware 1350 Delivery Truck 1355 Ace Dep'n Delivery Truck Owner's Equity Revenue 3110 Betty Loeb, Capital 4110 Sales 3120 Betty Loeb, withdrawals 4140 Sales Discounts 4150 Sales Returns Allowances Cost of Goods Sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 El Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n Expense Computer and Office Equipment 5560 Dep'n Expense Software 5570 Depin Expense Delivery Truck 5590 Accounting Expense 5596 Miscellaneous Expense Credit memo No 001 was issued No inventory was returned 19 Paid Dresses by Shelley amount due, less 2 discount (invoice No DS 12947), cheque No 129 20 Betty Loeb withdrew $1,000 for her personal use, cheque No 130 21 Sold to Sally's Store, invoice No CD 1084 DH01 10 $150 each HST CD 01 10 $59 95 each HST 26 Purchased from Dresses by Shelley, invoice No DS 13062 CD 01 505190 geach HST CD 02 50 519 each HST 28 Paid $10 from the petty cash funds for first aid emergency, voucher No 04 29 Recorded and paid employees, cheques No 131, No 132, and No 133 (cash payments journan 30 Issued cheque to Jane Hol for replenishment of petty cash fund, cheque No 134 (compound entry in cash payments journa view Data 584 Additional Data a Physical count of merchandise inven tory is $6,500 b Rental income earned, $300 (one month's rent from subletting received in advance in February) c Depreciation (straight line) Delivery truck Residual value $1,800, expected life of 5 years Comput Residual value $ 300, ex pected life of 3 years er Residual value $ 0, ex Comput er Soft pected life of 2 years ware d One month of insurance has expired 579 Mini Practice Set The Corner Dress Shop Estimated time 5 hours This Mini Practice Set will help you review all the key concepts of the accounting cycle for a merchandising company, along with the inte gration of payroll Betty Loeb took over the business now known as The Corner Dress Shop on January 1, 2022 Betty purchased the business name and all assets except cash from her Aunt Marion, who had run it for over ten years Certain liabilities were assumed by Bet ty's new business as part of the deal You are the bookkeeper of The Corner Dress Shop and have gathered the following infor mation It is your task to complete the ac counting cycle for March 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 28, 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 25, 2022 De Account Titles and Descripcion Cash Petty Cash Accounts Receivable Office Supplies Prepaid Rom Prepaid Insurance GST Pronald Inventory Computer and Office Equipment Aec Depo Computer Office Equipment Computer Software Acc Days Computer Software Delivery Track Mcc Da'n Delivery Track Accounts Payable Income Taxes Payable El Payable CPT Payable Medical Plan Payable Charitable Donations Payable GST Collected Rent Received in Advance Berry Lab, Capital Betty Loch, Withdraws Sales Cost of Goods Sold Was Esports CPP Expense El pense Incarance Espente Rent Espen Depinispense Computer Office Equipment Dep'in Expeme Sofie Dop'n Experte Delivery Track Accounting Expense Cr 3077531 5000 829185 62430 118 00 00 100 000 4 36 34 830 9 00 500 000 261 12 739 00 6158 12 000 00 34000 4788 99 110 882 408 79 810 30 11200 180 00 231365 60 000 45078 80 7300 00 59 86 505 19 073 58 18 12000 8 10 30 47692 200 00 1 800 00 261 12 6158 340 00 1 4 6000 118 929 10 118 92 9 10 580 Balances in subsidiary ledgers as of Feb ruary 28 Accounts Payable Accounts Receiv able Ronald $5,538 00 Blew Co $2,543 77 Co 1,510 22 Sally's Store 2,753 85 Dresses by Shel ley Silk 735 00 Magic Includes 5 GST Payroll is paid monthly, and employee claim codes are unchanged The payroll register for January and February Payroll is paid monthly, and employee claim codes are unchanged The payroll register for January and February is provided on pages 582 583 In March, salaries are as follows (all deductions are the same unless indicated) Mel Case $ Assume all income taxes 1,860 are calculated as 20 of gross wages Jane Holl 2,900 For CPP and El assume 0 0495 and 0 0188, re spectively (Remember to include the calculation for CPP exemption of $3,500 per year ) Jackie 4,300 Moore Required a Set up a general ledger, accounts re ceivable ledger, accounts payable ledger, auxiliary petty cash record, and payroll register (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28 ) b Journalize all transactions during March, using the special journals dis cussed in the text Assume this com pany uses the perpetual inventory method The practice set can be com pleted using either method of account ing for inventory If no specific method is indicated by your instruc tor, use the perpetual method As sume the cost of all inventory is 75 of its selling price c Prepare the payroll register for March d Update the accounts payable and ac counts receivable subsidiary ledgers for March e Post to the general ledger f Prepare a trial balance on a worksheet 9 33 e Post to the general ledger f Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022 g Prepare an income statement, state ment of owner's equity, and classified balance sheet h Journalize the adjusting and closing entries i Post the adjusting and closing entries to the ledger j Prepare a post closing trial balance The chart of accounts for The Corner Dress Shop is provided on the next page III X Continuing Problem Assets Liabilities 1110 Cash 2100 Accounts Payable 1115 Potty Cash 2200 Accrued Wages 1120 Accounts Receivable 2330 ncome Taxes Payable 1135 Office Supplies 2335 Payable 1140 Prepaid Rent 2340 CPP Payable 1145 Prepaid insurance 2350 Medical Plan Payable 1150 HST Prepaid 2360 Charitable Donations Payable 1210 Inventory 2400 ST Collected 1330 Computer and Office Equipment 2500 Rent Received in Advance 1335 Aco Dep'n Computer Office Equipment 1340 Computer Software 1345 Acc Depn Computer Software 1350 Delivery Truck 135 Act Depin Delivery truck Owner's Equity Revenue 3110 Betty Loeb Capita 4110 Sales 3120 Betty Loeb, withdrawal 4140 Sales Discounts 4150 Sales Returns Allowances Cost of Goods sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 Expense 5440 CPP Expense BE Continuing Problem 1345 ACC Lepn computer botware 1350 Delivery Truck 1355 Ace Dep'n Delivery Truck Owner's Equity Revenue 3110 Betty Loeb, Capital 4110 Sales 3120 Betty Loeb, withdrawals 4140 Sales Discounts 4150 Sales Returns Allowances Cost of Goods Sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 El Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n Expense Computer and Office Equipment 5560 Dep'n Expense Software 5570 Depin Expense Delivery Truck 5590 Accounting Expense 5596 Miscellaneous Expense Credit memo No 001 was issued No inventory was returned 19 Paid Dresses by Shelley amount due, less 2 discount (invoice No DS 12947), cheque No 129 20 Betty Loeb withdrew $1,000 for her personal use, cheque No 130 21 Sold to Sally's Store, invoice No CD 1084 DH01 10 $150 each HST CD 01 10 $59 95 each HST 26 Purchased from Dresses by Shelley, invoice No DS 13062 CD 01 505190 geach HST CD 02 50 519 each HST 28 Paid $10 from the petty cash funds for first aid emergency, voucher No 04 29 Recorded and paid employees, cheques No 131, No 132, and No 133 (cash payments journan 30 Issued cheque to Jane Hol for replenishment of petty cash fund, cheque No 134 (compound entry in cash payments journa view Data 584 Additional Data a Physical count of merchandise inven tory is $6,500 b Rental income earned, $300 (one month's rent from subletting received in advance in February) c Depreciation (straight line) Delivery truck Residual value $1,800, expected life of 5 years Comput Residual value $ 300, ex pected life of 3 years er Residual value $ 0, ex Comput er Soft pected life of 2 years ware d One month of insurance has expired

Question

579 Mini Practice Set The Corner Dress Shop Estimated time 5 hours This Mini Practice Set will help you review all the key concepts of the accounting cycle for a merchandising company, along with the inte  gration of payroll  Betty Loeb took over the business now known as The Corner Dress Shop on January 1, 2022  Betty purchased the business name and all assets except cash from her Aunt Marion, who had run it for over ten years  Certain liabilities were assumed by Bet  ty's new business as part of the deal  You are the bookkeeper of The Corner Dress Shop and have gathered the following infor  mation  It is your task to complete the ac  counting cycle for March 2022  THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 28, 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 25, 2022 De Account Titles and Descripcion Cash Petty Cash Accounts Receivable Office Supplies Prepaid Rom Prepaid Insurance GST Pronald Inventory Computer and Office Equipment Aec  Depo Computer   Office Equipment Computer Software Acc Days Computer Software Delivery Track Mcc  Da'n Delivery Track Accounts Payable Income Taxes Payable El Payable CPT Payable Medical Plan Payable Charitable Donations Payable GST Collected Rent Received in Advance Berry Lab, Capital Betty Loch, Withdraws Sales Cost of Goods Sold Was Esports CPP Expense El pense Incarance Espente Rent Espen Depinispense Computer   Office Equipment Dep'in Expeme Sofie Dop'n Experte Delivery Track Accounting Expense Cr 3077531 5000 829185 62430 118 00 00 100 000 4 36 34 830 9 00 500 000 261 12 739 00 6158 12 000 00 34000 4788 99 110 882 408 79 810 30 11200 180 00 231365 60 000 45078 80 7300 00 59 86 505 19 073 58 18 12000 8 10 30 47692 200 00 1 800 00 261 12 6158 340 00 1 4 6000 118 929 10 118 92 9 10 580 Balances in subsidiary ledgers as of Feb  ruary 28  Accounts Payable Accounts Receiv  able  Ronald $5,538 00 Blew Co  $2,543 77 Co  1,510 22 Sally's Store 2,753 85 Dresses by Shel  ley Silk 735 00 Magic  Includes 5  GST  Payroll is paid monthly, and employee claim codes are unchanged  The payroll register for January and February Payroll is paid monthly, and employee claim codes are unchanged  The payroll register for January and February is provided on pages 582 583  In March, salaries are as follows (all deductions are the same unless indicated)  Mel Case $ Assume all income taxes 1,860 are calculated as 20  of gross wages  Jane Holl 2,900 For CPP and El assume 0 0495 and 0 0188, re  spectively  (Remember to include the calculation for CPP exemption of $3,500 per year ) Jackie 4,300 Moore Required a  Set up a general ledger, accounts re  ceivable ledger, accounts payable ledger, auxiliary petty cash record, and payroll register  (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28 ) b  Journalize all transactions during March, using the special journals dis  cussed in the text  Assume this com  pany uses the perpetual inventory method  The practice set can be com  pleted using either method of account  ing for inventory  If no specific method is indicated by your instruc  tor, use the perpetual method  As  sume the cost of all inventory is 75  of its selling price  c  Prepare the payroll register for March  d  Update the accounts payable and ac  counts receivable subsidiary ledgers for March  e  Post to the general ledger  f  Prepare a trial balance on a worksheet 9 33 e  Post to the general ledger  f  Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022  g  Prepare an income statement, state  ment of owner's equity, and classified balance sheet h  Journalize the adjusting and closing entries  i  Post the adjusting and closing entries to the ledger  j  Prepare a post closing trial balance  The chart of accounts for The Corner Dress Shop is provided on the next page            III X Continuing Problem Assets Liabilities 1110 Cash 2100 Accounts Payable 1115 Potty Cash 2200 Accrued Wages 1120 Accounts Receivable 2330 ncome Taxes Payable 1135 Office Supplies 2335 Payable 1140 Prepaid Rent 2340 CPP Payable 1145 Prepaid insurance 2350 Medical Plan Payable 1150 HST Prepaid 2360 Charitable Donations Payable 1210 Inventory 2400 ST Collected 1330 Computer and Office Equipment 2500 Rent Received in Advance 1335 Aco  Dep'n Computer   Office Equipment 1340 Computer Software 1345 Acc  Depn Computer Software 1350 Delivery Truck 135 Act  Depin  Delivery truck Owner's Equity Revenue 3110 Betty Loeb Capita 4110 Sales 3120 Betty Loeb, withdrawal 4140 Sales Discounts 4150 Sales Returns   Allowances Cost of Goods sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 Expense 5440 CPP Expense BE Continuing Problem 1345 ACC  Lepn  computer botware 1350 Delivery Truck 1355 Ace  Dep'n Delivery Truck Owner's Equity Revenue 3110 Betty Loeb, Capital 4110 Sales 3120 Betty Loeb, withdrawals 4140 Sales Discounts 4150 Sales Returns   Allowances Cost of Goods Sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 El Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n  Expense Computer and Office Equipment 5560 Dep'n Expense Software 5570 Depin  Expense Delivery Truck 5590 Accounting Expense 5596 Miscellaneous Expense Credit memo No  001 was issued  No inventory was returned  19 Paid Dresses by Shelley amount due, less 2  discount (invoice No DS 12947), cheque No  129  20 Betty Loeb withdrew $1,000 for her personal use, cheque No  130 21 Sold to Sally's Store, invoice No  CD 1084 DH01 10   $150 each   HST CD 01 10   $59 95 each  HST 26 Purchased from Dresses by Shelley, invoice No  DS 13062  CD 01 505190 geach HST CD 02 50   519 each  HST 28 Paid $10 from the petty cash funds for first aid emergency, voucher No  04 29 Recorded and paid employees, cheques No  131, No 132, and No  133 (cash payments journan 30 Issued cheque to Jane Hol for replenishment of petty cash fund, cheque No  134 (compound entry in cash payments journa view Data 584 Additional Data a  Physical count of merchandise inven  tory is $6,500  b  Rental income earned, $300 (one month's rent from subletting  received in advance in February)  c  Depreciation (straight line)  Delivery truck Residual value   $1,800, expected life of 5 years Comput  Residual value   $ 300, ex  pected life of 3 years er Residual value   $ 0, ex  Comput  er Soft  pected life of 2 years ware d  One month of insurance has expired  579 Mini Practice Set The Corner Dress Shop Estimated time 5 hours This Mini Practice Set will help you review all the key concepts of the accounting cycle for a merchandising company, along with the inte  gration of payroll  Betty Loeb took over the business now known as The Corner Dress Shop on January 1, 2022  Betty purchased the business name and all assets except cash from her Aunt Marion, who had run it for over ten years  Certain liabilities were assumed by Bet  ty's new business as part of the deal  You are the bookkeeper of The Corner Dress Shop and have gathered the following infor  mation  It is your task to complete the ac  counting cycle for March 2022  THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 28, 2022 THE CORNER DRESS SHOP TRIAL BALANCE FEBRUARY 25, 2022 De Account Titles and Descripcion Cash Petty Cash Accounts Receivable Office Supplies Prepaid Rom Prepaid Insurance GST Pronald Inventory Computer and Office Equipment Aec  Depo Computer   Office Equipment Computer Software Acc Days Computer Software Delivery Track Mcc  Da'n Delivery Track Accounts Payable Income Taxes Payable El Payable CPT Payable Medical Plan Payable Charitable Donations Payable GST Collected Rent Received in Advance Berry Lab, Capital Betty Loch, Withdraws Sales Cost of Goods Sold Was Esports CPP Expense El pense Incarance Espente Rent Espen Depinispense Computer   Office Equipment Dep'in Expeme Sofie Dop'n Experte Delivery Track Accounting Expense Cr 3077531 5000 829185 62430 118 00 00 100 000 4 36 34 830 9 00 500 000 261 12 739 00 6158 12 000 00 34000 4788 99 110 882 408 79 810 30 11200 180 00 231365 60 000 45078 80 7300 00 59 86 505 19 073 58 18 12000 8 10 30 47692 200 00 1 800 00 261 12 6158 340 00 1 4 6000 118 929 10 118 92 9 10 580 Balances in subsidiary ledgers as of Feb  ruary 28  Accounts Payable Accounts Receiv  able  Ronald $5,538 00 Blew Co  $2,543 77 Co  1,510 22 Sally's Store 2,753 85 Dresses by Shel  ley Silk 735 00 Magic  Includes 5  GST  Payroll is paid monthly, and employee claim codes are unchanged  The payroll register for January and February Payroll is paid monthly, and employee claim codes are unchanged  The payroll register for January and February is provided on pages 582 583  In March, salaries are as follows (all deductions are the same unless indicated)  Mel Case $ Assume all income taxes 1,860 are calculated as 20  of gross wages  Jane Holl 2,900 For CPP and El assume 0 0495 and 0 0188, re  spectively  (Remember to include the calculation for CPP exemption of $3,500 per year ) Jackie 4,300 Moore Required a  Set up a general ledger, accounts re  ceivable ledger, accounts payable ledger, auxiliary petty cash record, and payroll register  (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28 ) b  Journalize all transactions during March, using the special journals dis  cussed in the text  Assume this com  pany uses the perpetual inventory method  The practice set can be com  pleted using either method of account  ing for inventory  If no specific method is indicated by your instruc  tor, use the perpetual method  As  sume the cost of all inventory is 75  of its selling price  c  Prepare the payroll register for March  d  Update the accounts payable and ac  counts receivable subsidiary ledgers for March  e  Post to the general ledger  f  Prepare a trial balance on a worksheet 9 33 e  Post to the general ledger  f  Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022  g  Prepare an income statement, state  ment of owner's equity, and classified balance sheet h  Journalize the adjusting and closing entries  i  Post the adjusting and closing entries to the ledger  j  Prepare a post closing trial balance  The chart of accounts for The Corner Dress Shop is provided on the next page            III X Continuing Problem Assets Liabilities 1110 Cash 2100 Accounts Payable 1115 Potty Cash 2200 Accrued Wages 1120 Accounts Receivable 2330 ncome Taxes Payable 1135 Office Supplies 2335 Payable 1140 Prepaid Rent 2340 CPP Payable 1145 Prepaid insurance 2350 Medical Plan Payable 1150 HST Prepaid 2360 Charitable Donations Payable 1210 Inventory 2400 ST Collected 1330 Computer and Office Equipment 2500 Rent Received in Advance 1335 Aco  Dep'n Computer   Office Equipment 1340 Computer Software 1345 Acc  Depn Computer Software 1350 Delivery Truck 135 Act  Depin  Delivery truck Owner's Equity Revenue 3110 Betty Loeb Capita 4110 Sales 3120 Betty Loeb, withdrawal 4140 Sales Discounts 4150 Sales Returns   Allowances Cost of Goods sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 Expense 5440 CPP Expense BE Continuing Problem 1345 ACC  Lepn  computer botware 1350 Delivery Truck 1355 Ace  Dep'n Delivery Truck Owner's Equity Revenue 3110 Betty Loeb, Capital 4110 Sales 3120 Betty Loeb, withdrawals 4140 Sales Discounts 4150 Sales Returns   Allowances Cost of Goods Sold Expenses 5040 Cost of Goods Sold 5400 Wages Expense 5430 El Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n  Expense Computer and Office Equipment 5560 Dep'n Expense Software 5570 Depin  Expense Delivery Truck 5590 Accounting Expense 5596 Miscellaneous Expense Credit memo No  001 was issued  No inventory was returned  19 Paid Dresses by Shelley amount due, less 2  discount (invoice No DS 12947), cheque No  129  20 Betty Loeb withdrew $1,000 for her personal use, cheque No  130 21 Sold to Sally's Store, invoice No  CD 1084 DH01 10   $150 each   HST CD 01 10   $59 95 each  HST 26 Purchased from Dresses by Shelley, invoice No  DS 13062  CD 01 505190 geach HST CD 02 50   519 each  HST 28 Paid $10 from the petty cash funds for first aid emergency, voucher No  04 29 Recorded and paid employees, cheques No  131, No 132, and No  133 (cash payments journan 30 Issued cheque to Jane Hol for replenishment of petty cash fund, cheque No  134 (compound entry in cash payments journa view Data 584 Additional Data a  Physical count of merchandise inven  tory is $6,500  b  Rental income earned, $300 (one month's rent from subletting  received in advance in February)  c  Depreciation (straight line)  Delivery truck Residual value   $1,800, expected life of 5 years Comput  Residual value   $ 300, ex  pected life of 3 years er Residual value   $ 0, ex  Comput  er Soft  pected life of 2 years ware d  One month of insurance has expired

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