Comprehensive Problem 2: Accounting cycle

GENERAL LEDGER Account: Accounts Recelvable Account: Accounts Recelvable Accolant 140. 172 Account: Merchandise Irmontory Account: Estinated Peturns lnwentory Account: Suppties Accourt lio. 141 Account: Prepaid Insurance Mcecunt 1io. 145 Account: Frepaid insurance Account: Land Account Hio. 161 Account: Building Account No. 171 Mrennamir Min. Account tho. tat Accounti Store Equpment * Accounti Store Equagmont DNT Decio Batance Acceunt Mariandatned Oepreciation Giote Luphement Account Ho. IE1.1 Account Accumulated Depreciation-Store Equipenent. Account: Accounts Payable Arcoumat Wasos Pivalio Account: Accounts Paypable Acobuntt Customer Refunds Payable. Acciont tio. 208 Account: Wages Payable Accoum 1io, 219 1+dec51 but TEM foste ELE DC Account: Sales Iaco Payable Account: Sales Tax Payable Account No, 231 Account: Mortgage Payable Account No. 251 Account: Tom dones, Capltal Account 16o, H11 Date Dec 16 Batance Accourt: Fom bones, Drawing Accoknt: Ho, M2 4. Dute ITEM Account: Income Summury Account No. 313 Mccoart th. 401 Acceunt:-5ales Returts and Alowance- Account tha 401.1 Acounte Hurchater Npqurt ta. \$or Account Ho. 501 Account: Purchases Dlscounts Account No: 501.7 Accouint: Freight-ln Datt IIIM Dec 16 Balance * Account: Wages Experwe Accont 16, 511 Account: Mufertising Expenoe DNIL. Irem PCST. AEF. Dec 16 Belance Account: Supplies Expereo Acoourt Fia. 524 Accounti Fhone Cxpene Accuat tis. $25 Account No. 524 Account: Phane Experse Account: Utitities Expevise Account Hib, 53) Accouast: frourance Expenie Acrount tho. 535 Account: Irisurance Expense Account Degreciation Eopense.Eailding Acoount 14owiset Account No, 540 Account: Depreciation Expense-Store Equigenent Account No. 561 Account: Misceltancour Expense Account ho. 549 Kermunt kin SSSI GENERAL JOURNAL 16 Actounts Reccivable GENERAL JOURNAL PAGE 3 PAGE 4 PAGE 5 GENERAL JOURNAL Comprehensive Problem - Spr Tis Specaty Shop Endof-Perod Soleadehee For the Year Ended Decentber 31, 20.1 MCCOUNTITE Cosh Acouras hecerible Mertendon liveresy 6. Esinned hetars limetary 1 Sipplies 1. Paepais lutirance (.) tand 46. Fililing 14. Aaumadied bepreiation Boithing ti) Sure Fayphent 35 Acciatuland Depcriation' Sion Equiprect (7) Acuses Pagale 19 Cistanter fethrst Papabil in waje Pnatile 4 Acourts Ruceinble 5. Mestundise Investany 4. Etimated Retuns invotoy 7 Supplies 1. Progit hnorar , Land n. Bulling ti Rcundated Depeciation 0uling a) Soove Lqupent 14 Nouns mide 13) Gintiner fotent Bapkle (i) Wros Payble (1) Saler Tavpryale 11) Matyar Poydic 1. Tom ines Coptal - lemicer brawioy i) haen Sintury Gibuch, Wy Whak Comprehenshve Problem - Spr kxome Suminary 25. 5.2cm 74 Soles Retums and Nlowance 21) Purctures 16. Prthuse felum and Alowances an Purchases Discounts a) Fikightin a. Wogs Expere Advetring Emere 11. Sepples Eperee 3. Fisce Eyparse is thitios bpense in hearance Expente is Deprecution Expense thalding is Degreciation Eyperse Sloe toqugeret 12. Mhrellanas Eypent fiterest Experee Statement of Owner's Equity Instructions TJ's Specialty Shop Statement of Owner's Equity For The Year Ended December 31, 20-1 Balance Sheet TJ's Specialty Shop Balance Sheet December 31,201 Assets Current ansets: 3 4 15 Property, piant, and equipmert: Lablities Lablitities (abeli) (abil) Onnes fquily GENERAL LEDGER Account: Accounts Recelvable Account: Accounts Recelvable Accolant 140. 172 Account: Merchandise Irmontory Account: Estinated Peturns lnwentory Account: Suppties Accourt lio. 141 Account: Prepaid Insurance Mcecunt 1io. 145 Account: Frepaid insurance Account: Land Account Hio. 161 Account: Building Account No. 171 Mrennamir Min. Account tho. tat Accounti Store Equpment * Accounti Store Equagmont DNT Decio Batance Acceunt Mariandatned Oepreciation Giote Luphement Account Ho. IE1.1 Account Accumulated Depreciation-Store Equipenent. Account: Accounts Payable Arcoumat Wasos Pivalio Account: Accounts Paypable Acobuntt Customer Refunds Payable. Acciont tio. 208 Account: Wages Payable Accoum 1io, 219 1+dec51 but TEM foste ELE DC Account: Sales Iaco Payable Account: Sales Tax Payable Account No, 231 Account: Mortgage Payable Account No. 251 Account: Tom dones, Capltal Account 16o, H11 Date Dec 16 Batance Accourt: Fom bones, Drawing Accoknt: Ho, M2 4. Dute ITEM Account: Income Summury Account No. 313 Mccoart th. 401 Acceunt:-5ales Returts and Alowance- Account tha 401.1 Acounte Hurchater Npqurt ta. \$or Account Ho. 501 Account: Purchases Dlscounts Account No: 501.7 Accouint: Freight-ln Datt IIIM Dec 16 Balance * Account: Wages Experwe Accont 16, 511 Account: Mufertising Expenoe DNIL. Irem PCST. AEF. Dec 16 Belance Account: Supplies Expereo Acoourt Fia. 524 Accounti Fhone Cxpene Accuat tis. $25 Account No. 524 Account: Phane Experse Account: Utitities Expevise Account Hib, 53) Accouast: frourance Expenie Acrount tho. 535 Account: Irisurance Expense Account Degreciation Eopense.Eailding Acoount 14owiset Account No, 540 Account: Depreciation Expense-Store Equigenent Account No. 561 Account: Misceltancour Expense Account ho. 549 Kermunt kin SSSI GENERAL JOURNAL 16 Actounts Reccivable GENERAL JOURNAL PAGE 3 PAGE 4 PAGE 5 GENERAL JOURNAL Comprehensive Problem - Spr Tis Specaty Shop Endof-Perod Soleadehee For the Year Ended Decentber 31, 20.1 MCCOUNTITE Cosh Acouras hecerible Mertendon liveresy 6. Esinned hetars limetary 1 Sipplies 1. Paepais lutirance (.) tand 46. Fililing 14. Aaumadied bepreiation Boithing ti) Sure Fayphent 35 Acciatuland Depcriation' Sion Equiprect (7) Acuses Pagale 19 Cistanter fethrst Papabil in waje Pnatile 4 Acourts Ruceinble 5. Mestundise Investany 4. Etimated Retuns invotoy 7 Supplies 1. Progit hnorar , Land n. Bulling ti Rcundated Depeciation 0uling a) Soove Lqupent 14 Nouns mide 13) Gintiner fotent Bapkle (i) Wros Payble (1) Saler Tavpryale 11) Matyar Poydic 1. Tom ines Coptal - lemicer brawioy i) haen Sintury Gibuch, Wy Whak Comprehenshve Problem - Spr kxome Suminary 25. 5.2cm 74 Soles Retums and Nlowance 21) Purctures 16. Prthuse felum and Alowances an Purchases Discounts a) Fikightin a. Wogs Expere Advetring Emere 11. Sepples Eperee 3. Fisce Eyparse is thitios bpense in hearance Expente is Deprecution Expense thalding is Degreciation Eyperse Sloe toqugeret 12. Mhrellanas Eypent fiterest Experee Statement of Owner's Equity Instructions TJ's Specialty Shop Statement of Owner's Equity For The Year Ended December 31, 20-1 Balance Sheet TJ's Specialty Shop Balance Sheet December 31,201 Assets Current ansets: 3 4 15 Property, piant, and equipmert: Lablities Lablitities (abeli) (abil) Onnes fquily