Date Accounts and Explanation 12/02/ Inventory Accounts Payable Post RelDebit 130 200 1,300.00 Credit Correct 1,300.00 Correct 2,500.00 12/02/o Salary Payable Cash 2151 100 Correct 2,500.00 Correct 3,200.00 12/02/x Accounts Receivable Service Revenue 110 400 Correct 3,200.00 Correct 4,800.00 12/05/ Office Equipment Accounts Payable 160 200 Corred 4,800.00 Correct 12/08/ Supplies 800.00 120 100 Correct 800.00 Correct 3,000.00 12/10/ Cash Accounts Receivable 100 110 Correct 3,000.00 Correct 4,500.00 12/11/10 Accounts Receivable Sales Revenue 110 410 Correct 4,500.00 Correct 2,000.00 12/11/x Cost of Goods Sold Inventory 560 130 Correct 2,000.00 Correct 1,000.00 12/11/x Accounts Payable Cash 200 100 Correct 1,000.00 Correct 2,400.00 15 16 12/12/> Inventory Accounts Payable 130 200 Correct 2,400.00 Correct 250.00 12/14/ Advertising Expense Cash 500 100 Correct 250.00 Correct 40 8,000.00 12/15/ Cash Service Revenue 100 400 Correct 8,000.00 Correct 44 2,500.00 12/16/1Salary Expense Cash 570 100 Correct 2,500.00 Correct 110 6.000.00 GR 12/17/ Accounts Receivable Service Revenue 400 Correct 6,000.00 Correct 12/19/ Accounts Receivable Sales Revenge 3,000.00 110 410 Correct 3,000.00 Correct 50 51 52 53 54 55 56 57 58 59 12/19/o Cost of Goods Sold Inventory 560 130 1,200.00 Correct 1,200.00 Correct 12/22/ Cash Accounts Receivable 2,500.00 100 110 Correct 2,500.00 Correct 12/23/ Accounts Payable Cash 2.500.00 GO 200 100 Correct 2,500.00 Correct 62 12/24/Utilities Expense Cash 850.00 550 100 Correct 850.00 Correct B52 B D 51 850.00 12/24/Utilities Expense Cash 550 100 Correct 850.00 Correct 2,000.00 64 65 66 67 12/27/ Cash Unearned Service Revenue 100 210 Correct 2,000.00 Correct 5,000.00 12/29/Cash Service Revenue 100 400 Correct 5,000.00 Correct 15,000.00 69 70 71 72 73 74 75 76 12/30/ Cash Common Stock, $1 par value Additional Paid in Capital 12/31/ Retained Earnings Dividends Payable 100 300 305 310 220 Correct 1,000.00 Correct 14,000.00 Correct Correct 31,500.00 Correct 31.500.00 The following adjustments SHOULD NOT be posted to the Ledger; Instead, they should be posted directly to the Trial Balance 2,500.00 77 78 79 Ad 80 Salary Expense Salary Payable 570 215 Correct 2,500.00 Correct 6,500.00 Depreciation Expense Accumulated Depreciation Building 510 151 Correct 6,500.00 Correct 82 Ad 12,000.00 84 8 Adi 86 Depreciation Expense Accumulated Depreciation Furnishings 510 156 Correct 12,000.00 Correct Depreciation Expense Accumulated Depreciation-off. Equip. 510 161 Incorrect amount Incorrect amount 1,175.00 Supplies Expense Supplies 530 120 Correct 1.175.00Correct 88 Ad 89 90 91 Ad 92 93 94 Ad 95 96 97 Adi 240.00 Cost of Goods Sold Inventory 560 130 Correct 240.00 Correct 500.00 Unearned Service Revenue Service Revenue 210 400 Correct 500.00 Correct 167.00 Uncollectible Accounts Expense Allowance for Unc. Accounts 540 115 correct 167.00 Correct 100 101 Adj 102 103 104 105 106 107 108 109 110 111 112 113 A A == 2 Wrap Text Paste BI U EE Merge & Center 31 A B D E F G H 100-Cash 255,631.00 110 - Accounts Receivable 9,396.00 Open Bal $ Open Bal $ Bal $ 255,631.00 Bal $ 9,396.00 115 - Allowance for Uncollect Acct 2,728.00 120 - Supplies 2,000.00 Open Bal $ Open Bal $ Bal 2,728.00 Bal $ 2,000.00 $ 0 130 - Inventory 4,200.00 Open Bal $ Open Bal 150 - Building $ 140,000.00 Bal $ 4,200.00 Bal $ 140,000.00 151. Accum Depre Building Open Ball 155 - Furnishings 30,000.00 Open Bal $ 5 Bal $ S 30,000.00 156 - Accum Depre Furnishings 3 Open Bal 160-Office Equipment 4,800.00 Chart of Accounts Journal Open Bal $ TrialBalance Ledger Income Stmt SI Ready Wrap Text Paste Merge & Center K131 fx D F G H 156 - Accum Depre Furnishings 160 - Office Equipment 4,800.00 Open Bal $ $ Bal $ 4,800.00 161 - Accum Depre Office Equip 200-A/P $ Open Bal 396.00 Bal $ 396.00 46 47 48 Open Bal 49 SO 51 52 53 Bal 54 SS 56 Open Bal 57 58 59 60 61 62 Bal 63 64 65 Open Bal 66 67 68 69 70 Bal 71 72 73 Open Bal 74 75 76 77 78 Bal 79 80 81 82 Open Bal 210- Unearned Ser. Rev. Open Ball 215 - Salary Payable $ 2,500.00 $ Bal $ 2,500.00 220-Dividends Payable Open Ball 300-Stock, Common $ 20,000.00 $ Bal $ 20,000.00 305. Additional Paid in Capital $ 349,397.00 310- Retained Earnings $ 40,000.00 Open Bal 84 85 86 87 Bal 88 89 5 349,397.00 Bal $ 40,000.00 400. Service Revenue Chart of Accounts Journal Ledger TrialBalance 410. Sales Revenue Income Stmt Ready ome Insert Draw Page Layout Formulas Data Review View X v AA Wrap Text Paste E Merge & Center - 31 x v fx A C D G ou 400 - Service Revenue $ 102,500.00 410 - Sales Revenue $ 16,500.00 Open Bal Open Bal Bal $ 102,500.00 Bal Bal $ 16,500.00 510 - Depreciation Expense 500 - Advertising Expense 7,589.00 Open Bal $ Open Bal Bal $ 7,589.00 Bal $ 520 - Repairs & Maint Expense 10,567.00 530 - Supplies Expense 3,560.00 Open Bal $ Open Bal $ 1 Bal $ 10.567.00 Bal $ 3,560.00 540 - Uncollectible Acets Expense $ 2,728.00 550 - Utilities Expense 5,389.00 Open Bal Open Bal $ S 2.728.00 Bal $ 5,389.00 560-Cost of Goods Sold 7,700.00 570 - Salary Expense S5,261.00 $ Open Ball us 6 7 .8 9 Ball 20 21 22 Open Bal 23 24 25 26 27 Bal 28 29 30 $ 7,700.00 Bal $ 55,261.00 Chart of Accounts Journal Ledger Trial Balance Income Stmt Ready D E 1 HAMPTON ACCOUNTING SE 2 Trial Balance 4 Unadjusted Trial Balance Debit Credit Adjustments Credit Debit Adjusted Trial Balance Debit Credit 6 Cash 7 Accounts Receivable 8 Allowance for Unc. Accounts 9 Supplies 10 Inventory 11 Building 12 Accumulated Depreciation-Building 13 Furnishing 14 Accumulated Depreciation Furnishings 15 Office Equipment 16 Accumulated Depreciation-Off Equip 17 Accounts Payable 18 Unearned Service Revenue 19 Salary Payable 20 Dividends Payable 21 Stock, Common 22 Additonal Paldin Capital 23 Retained Earnings 24 Service Revenue 25 Sales Revenue 26 Advertising Expense 27 Depreciation Expense 28 Repairs & Maintenance Expense 29 Supplies Expense 30 Uncollectible Accounts Expense 31 Utilities Expense 32 Cost of Goods Sold 33 Salary Expense 34 Total 35 + $ $ - $ $ $ S "Project requirements 14 are posted directly here 37 38 39 40 41 Chart of Accounts Journal Ledger TrialBalance Income Stmt Stmt of RE Balance Sheet Instructor Interte Ready A B C $ $ 2 Income Statement 3 For the Year Ending December 31, 2020 4 5 Service Revenue 6 Sales Revenue 7 Net Revenue 8 Cost of Goods Sold 9 Gross Profit 10 Operating Expenses 11 Advertising Expense 12 Depreciation Expense 13 Repairs & Maintenance 14 Supplies Expense 15 Uncollectible Accts Expense 16 Utilities Expense 17 Salary Expense 18 Total Operating Expense 19 Net Income 20 21 22 $ $ 5 x fx D E F A B HAMPTON ACCOUNTING SE Statement of Retained Earnings For the Year Ending December 31, 2020 Retained Earnings, January 1 Add: Net Income $ Less: Dividends Retained Earnings, December 31 $ 5 6 December 31, 2020 7 8 Assets 9 Current: 10 11 12 3 $ Cash Accounts Receivable Less: Allowance for Unc. Accounts (enter here) [enter here] Total Current Assets $ $ 5 -6 Long-Term: 7 8 9 $ (enter here] enter here) (enter here) enter here) (enter here) enter here) Total Long-term Assets $ 1 2 $ 3 4 Total Assets $ $ 5 B 6 Liabilities 7 Current: Accounts Payable (enter here) [enter here) (enter here) Total Current Liabilities 3 Stockholders Equity (enter here) Additional Paid in Capital Retained Earnings Total Liabilities & Stockholders Equity 2 $ 5 UI $ YES, Total Assets = Total Liabilities + Stockholders Equity