Hello,

Can you help me to finish step 5 to step 10, and also make a cash flow statement at the end? Here I attach the instruction file and the excel file that you continue to work on. There were some mistakes on the excel that you sent me before, so I changed something on that, hope you can take a look before youcontinue following works.

Thank you very much!!!

\f 2006-2010 Perdisco Coffee and Caf Supplier Accounting Practice Set, US GAAP Edition 3 Publisher Perdisco 10685-B Hazelhurst Drive, Suite 3965 Houston, TX 77043 USA Website: www.perdisco.com Email: info@perdisco.com Production team Commissioning publisher and development editor: Jon Carter Authors: Raechel Wight and Julyana Cahyadi Technical editor: Liam Carey Graphic designer: Ryan Dunn Publisher's thanks This practice set contains instructional content and questions selected from our comprehensive catalog. The production credits acknowledge the key contributors to this work. In addition to those people listed, Perdisco would like to thank all authors, designers and technical experts (past and present) who have made possible the delivery of our high quality, academically rigorous and technically advanced learning resources. Copyright notice The copyrights in this practice set are owned by Perdisco. All rights reserved. Apart from any fair use for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part of this practice set may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. All inquiries should be addressed to the publisher. An electronic version of the practice set is provided free of charge to instructors and undergraduate students enrolled at a government-recognized higher education body in the US. It is not provided freely to any other person. Even though the practice set is provided free of charge, it is still subject to strict copyright and limitations on its use and distribution. In particular, the practice set and its contents (including, but not limited to, its structure, instructions, any numeric values, any marketing information, and this copyright notice) may not be altered or customized in any way (other than what is required for a student to supply their answers), sold or distributed in any way (including by an instructor's email to their students or by placing it on a LAN, WAN or internet server including any course management system owned by any adopting university) without the written permission of Perdisco. 2006 Perdisco. Coffee and Caf Supplier Accounting Practice Set US GAAP Edition 1 published in 2006. 2008 Perdisco. Coffee and Caf Supplier Accounting Practice Set US GAAP Edition 2 published in 2008. 2010 Perdisco. Coffee and Caf Supplier Accounting Practice Set US GAAP Edition 3 published in 2010. About the authors Raechel Wight (B.Bus., B.V.A) is an educator and author who has taught undergraduate accounting at a number of universities. She has many years experience writing educational resources for accounting students and, in her prior professional career, worked as an auditor for Deloitte. Julyana Cahyadi (B.Com., M.Bus.) teaches financial accounting and financial statement analysis to undergraduate students. She previously worked as a researcher for the National Centre for Banking and Capital Markets and has since then undertaken various consulting roles in Australia and overseas. Contents Study time guidelines ................................................................................................................................ 2 Overview .................................................................................................................................................... 3 Background information .......................................................................................................................................... 3 Accounting policies................................................................................................................................................... 3 Accounting procedures ............................................................................................................................................ 4 Instructions................................................................................................................................................ 6 Transactions ............................................................................................................................................................... 6 End of month posting.............................................................................................................................................. 6 Bank reconciliation ................................................................................................................................................... 6 Unadjusted trial balance ........................................................................................................................................... 6 Worksheet................................................................................................................................................................... 6 Adjusting entries........................................................................................................................................................ 7 Schedules of accounts............................................................................................................................................... 7 Financial statements.................................................................................................................................................. 7 Closing entries ........................................................................................................................................................... 7 Post-closing trial balance.......................................................................................................................................... 7 Reversing entries ....................................................................................................................................................... 7 Further information ................................................................................................................................... 8 Chart of accounts ...................................................................................................................................................... 8 Schedule of accounts receivable ~ May................................................................................................................. 9 Schedule of accounts payable ~ May..................................................................................................................... 9 Post-closing trial balance ~ May........................................................................................................................... 10 Bank reconciliation statement ~ May .................................................................................................................. 11 Bank statement ~ June........................................................................................................................................... 12 Transactions ............................................................................................................................................ 13 General journal ........................................................................................................................................ 16 Special Journals ....................................................................................................................................... 21 Sales journal.............................................................................................................................................................. 21 Purchases journal..................................................................................................................................................... 21 Cash receipts journal............................................................................................................................................... 22 Cash payments journal ........................................................................................................................................... 23 Ledgers .................................................................................................................................................... 25 Accounts receivable subsidiary ledger.................................................................................................................. 26 Accounts payable subsidiary ledger ...................................................................................................................... 28 General ledger.......................................................................................................................................................... 30 Final statements ...................................................................................................................................... 45 Bank reconciliation statement ............................................................................................................................... 46 Worksheet................................................................................................................................................................. 48 Schedule of accounts receivable............................................................................................................................ 50 Schedule of accounts payable................................................................................................................................ 50 Income statement.................................................................................................................................................... 51 Statement of stockholders' equity......................................................................................................................... 52 Balance sheet............................................................................................................................................................ 53 Post-closing trial balance........................................................................................................................................ 54 Study time guidelines Your accounting practice set is a large activity that will take approximately 18 hours or more of study. As such, you will not complete the whole practice set in one sitting. The timeframes that we are suggesting on this page measure study time spent directly working with this practice set. Depending on the submission guidelines set by your instructor, your study time may be spread over many days or weeks. The study times below are provided only to give you a general guide as to how to allocate your time when completing the sections in your practice set. Breaking your study time into blocks will help maintain your concentration while performing the tasks required. Some students will take less time to complete their accounting practice set, other students will take longer. That is OK. Subject to the deadlines set by your instructor, please take as much or as little time as you need. Accounting cycle step Approximate study time Reading time Up to 0.5 Transactions - week 1 Up to 2 hours Transactions - week 2 Up to 1 hour Transactions - week 3 Up to 1 hour Transactions - week 4 Up to 1 hour Transactions - week 5 Up to 1 hour End of month posting Up to 1.5 hours Bank reconciliation Up to 1.5 hours Unadjusted trial balance Up to 1 hour Worksheet Up to 2 hours Adjusting entries Up to 1 hour Up to 0.25 hour Financial statements Up to 1.5 hours Closing entries Up to 1.5 hours Up to 0.25 hour Up to 1 hour Schedules of accounts Post-closing trial balance Reversing entries TOTAL all steps (approximate) 2 hour PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Up to 18 hours Overview Background information Assume it is currently June 30, 20XX. You are working for the temporary accounting employment agency known as Tempters. Today you have been asked to work at Moondollars, a small coffee supplies store that operates in the city and is owned by Adrian Bartos. Your task here is to complete the accounting cycle for Moondollars for the month of June 20XX. To assist you in this task, Adrian tells you to read the company's accounting policies and procedures. Note that you will be required to follow these policies and procedures when completing the accounts for Moondollars. Accounting policies a. Business operations: Moondollars is set up as a private non-listed corporation based in the city with Adrian Bartos as the sole stockholder. The business derives its main source of revenue from retail sales of coffee supplies. To assist in managing the business, Moondollars rents a small office space. Note that the business is required to pay for the rent for this premises in advance. The electricity and water expenses incurred during the month relate to the running of the office. Additional expenses include an insurance policy to protect the equipment in the office in the event of theft or fire. All costs associated with the office are classified as general and administrative expenses. Adrian is the only full-time employee and his role is to handle all administrative tasks. Adrian's salary is paid once at the end of each month. All other employees are sales staff who are employed on a part-time basis. The sales staff receive their wages every two weeks. b. Accounting cycle: The business adopts a monthly accounting cycle. c. Purchases: Purchases are recorded when the business receives the goods. All items purchased are received on the same day as recorded in the transaction list, except for purchase orders which are received at a later date. Note that the business uses the gross method of recording purchases and receives trade discounts and early payment discounts from some suppliers. d. Purchase returns: To allow Adrian to separately track and analyze the value of goods returned to suppliers, all purchase returns are recorded in the Purchase Returns and Allowances account rather than directly in the Purchases account. e. Revenue recognition: The business recognizes revenues when goods sold are delivered to customers. All items sold are delivered on the same day as recorded in the transaction list except for sales orders, which are delivered at a later date as agreed with the customer. Note that the business uses the gross method of recording sales and sometimes grants trade discounts to customers. Past experience has shown that offering early payment discounts did not increase the likelihood of accounts receivable being paid promptly. Therefore, discounts for early payment of accounts are not normally offered to credit customers except in exceptional circumstances. f. Sales returns: So that the business can easily track the level of sales returns in relation to overall sales, all sales returns are recorded using a contra revenue account (Sales Returns and Allowances) rather than being recorded directly in the Sales Revenue account. COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 3 g. Sales tax: Adrian has advised you to ignore the effect of sales tax. [ASIDE: This is an assumption to make the practice set easier for you to complete. In the real world, sales tax cannot be ignored.] h. Cash: The business accepts cash and checks and uses checks to pay for the majority of its expenses. On the day checks are received, Adrian deposits them at the bank. It may take a number of days for the checks to be cleared by the bank. The business holds its checking account with BitiBank. i. Short-term investments: The business holds a six-month term deposit account with BitiBank. Interest is calculated on a monthly basis and received at the end of the deposit term. Note that when the deposit matures, Adrian usually rolls over the principal and interest received at the end of the term. The term deposit account was rolled over on June 1, 20XX. j. Inventories: The business uses the periodic inventory system and and records all purchases of inventory in the Purchases account, rather than recording them directly in the Merchandise Inventory account. At the end of the reporting period, the Purchases account and the opening balance of the Merchandise Inventory account are closed to the Income Summary account and Merchandise Inventory is restated to its ending balance. Note that the company does not use a Cost of Goods Sold account. k. Prepayments: The business has a policy of recording prepayments, including office supplies, as assets. At the end of the month, adjustments are made to the relevant accounts to recognize the expense incurred during the accounting period. l. Property, plant and equipment: Property, plant and equipment items are depreciated over their estimated useful life using the straight line method to calculate the depreciation charge. m. Long-term liabilities: The business obtained an interest only loan from MRMC Bank on June 1, 20XX. The first interest payment is due at the end of August 20XX and the principal on the loan is due at the beginning of June four years later. Accounting procedures Moondollars adopts a manual accounting system and uses the general journal and special journals for the recording of individual transactions. Adrian Bartos has tailored the design of those journals to meet the specific needs of the business so the format of those journals may be slightly different to those you have seen before. However, he advises you that the general principles of how to use special journals are followed in his business. The table below shows the journals used by the business and the types of transactions that can be recorded in each of these journals: Journal Code Transaction type General journal GJ All transactions that are not able to be recorded in the special journals below. Sales journal SJ Credit sales of inventory Purchases journal PJ Credit purchases of inventory Cash receipts journal CRJ Cash inflows to the business Cash payments journal CPJ Cash outflows from the business To summarize the effects of transactions recorded in those journals, Adrian maintains the general ledger and the following subsidiary ledgers: accounts receivable subsidiary ledger, and accounts payable subsidiary ledger. 4 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Adrian then indicates that he is aware other businesses using a manual accounting system may post transactions from journals to ledgers at different times (i.e. daily or monthly). Although the posting procedures used in his business may be different to what you have seen before, he asks that you specifically follow his company's accounting policies and procedures. The information below explains when transactions are required to be posted from the journals to the appropriate ledger accounts: Posting of entries recorded in the general journal All transactions that are entered in the general journal are posted on a daily basis. Note that if a transaction recorded in the general journal involves both a control account and a subsidiary ledger account, that journal entry will need to be posted to both ledgers. Posting of entries recorded in the special journals When a transaction is recorded in a special journal, part of the journal entry may need to be posted daily and part of that entry is to be posted monthly. a. Daily: If a transaction affects a subsidiary ledger account, then the entry that involves a subsidiary ledger account is to be posted to that subsidiary ledger on a daily basis. However, the same amount posted to the subsidiary ledger account is not posted to the related control ledger account immediately. This procedure allows the business to keep track of supplier and customer balances on a daily basis. In the cash receipts journal or the cash payments journal, if a transaction is recorded in the Other Accounts column, then the amount recorded in the Other Accounts column is to be posted to the appropriate general ledger account daily. b. Monthly: At the end of the month, the totals of each column in the special journals are manually calculated. Those totals, with the exception of the totals of the Other Accounts columns in the cash journals, are posted to the appropriate general ledger accounts at the end of the month. COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 5 Instructions Now that you have reviewed information about Moondollars, you are ready to complete the accounting cycle for Moondollars for the month of June. To start with, Adrian gives you the transaction list for the month of June and all the journals, ledgers and final statements you will need to complete this task. He also mentions that you will be required to record reversing entries at the beginning of July. Adrian provides the following list of tasks you are required to perform for June and the beginning of July: 1. Transactions a. Record all transactions in the relevant journals. Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal should be recorded in the general journal. b. Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures. Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the Cash amount, subtract the discount from the original amount. 2. End of month posting a. Total the columns in the special journals. b. Post the totals of the columns in the special journals to their corresponding ledger accounts. To confirm that the posting has been performed, a posting reference is recorded in the last row of the special journals. If the total of a column is not required to be posted (because the entries in that column have already been posted on a daily basis) you need to record an X in the post reference field for that column. 3. Bank reconciliation a. Prepare the bank reconciliation statement as at June 30. b. Identify and record the relevant reconciling items in the general journal, and post them to the relevant accounts. 4. Unadjusted trial balance Complete the unadjusted trial balance as at June 30 on the worksheet provided. 5. Worksheet a. Use the following information to record adjustments in the Adjustments column of the worksheet: furniture: Depreciation on the furniture owned by the business for the month of June is $156. equipment: Depreciation on the equipment owned by the business for the month of June is $366. Electricity expense for the month of June is estimated to be $874. The water usage for the month of June is estimated to be $235. The amount of wages incurred during the month of June but not yet paid to sales staff is $1,320. Interest expense incurred during the month of June but not yet paid to MRMC Bank for the bank loan is $275. Interest earned from short-term investments in BitiBank for the month of June is $100. The value of office supplies used during the month of June is $4,037. $3,000 worth of prepaid rent expired during the month of June. $3,000 worth of prepaid advertising was used up in June. $590 worth of prepaid insurance expired during the month of June. b. Complete the remaining columns of the worksheet. After taking a physical count of inventory, the balance of inventory on hand as at June 30 is $60,857. You will need to use this information to complete both the Income Statement and the Balance Sheet columns of the worksheet. Note that Merchandise Inventory is recorded in the Income Statement columns. Hint: This information will assist you in calculating cost of goods sold under the periodic inventory system. 6 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) 6. Adjusting entries Use the worksheet to help journalize adjustments for June. a. Record adjusting entries in the general journal. b. Post the adjusting entries from the general journal to the relevant ledgers. 7. Schedules of accounts a. Create a schedule of accounts receivable balances as at the end of June. b. Create a schedule of accounts payable balances as at the end of June. 8. Financial statements a. Prepare an income statement for the month of June. b. Prepare a statement of stockholders' equity for the month of June. c. Prepare a balance sheet as at the end of June. 9. Closing entries a. Journalise closing entries in the general journal. b. Post the closing entries from the general journal to the relevant ledger accounts. 10. Post-closing trial balance Prepare a post-closing trial balance as at the end of June. 11. Reversing entries a. On the first day of July, record in the general journal any entries that are required to reverse the following adjusting entries from the month of June: Water expense incurred but not paid Electricity expense incurred but not paid Wages owed to the employees but have not yet been paid in cash Interest expense incurred but not paid to the lender Interest earned but not received in cash b. Post the reversing entries from the general journal to the relevant general ledger accounts. After completing the tasks for Moondollars, you should double check your work and ensure that you have completed all of the accounting records before submitting them for review. COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 7 Further information Chart of accounts Account No. 100 102 110 112 120 130 140 141 142 150 151 160 161 210 220 221 222 225 250 300 301 310 400 401 402 403 500 501 502 511 516 540 541 542 543 544 545 560 561 571 572 8 Name Cash Short-term Investments ARC - Accounts Receivable Control Interest Receivable Merchandise Inventory Office Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Office Furniture Accum Depn: Office Furniture Office Equipment Accum Depn: Office Equipment APC - Accounts Payable Control Wages Payable Electricity Payable Water Payable Interest Payable Bank Loan Payable Common Stock Retained Earnings Income Summary Sales Revenue Sales Returns and Allowances Sales Discounts Interest Revenue Purchases Purchase Returns and Allowances Purchase Discounts Advertising Expense Wages Expense Rent Expense Electricity Expense Water Expense Insurance Expense Office Supplies Expense Salary Expense Depn Expense: Office Furniture Depn Expense: Office Equipment Interest Expense Admin. Expense - Bank Charges PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Schedule of accounts receivable ~ May Moondollars Schedule of Accounts Receivable May 31, 20XX Account No. Debit ($) Name 110-1 ARC - Central Coffee 2,844 110-2 ARC - Con's Coffee 3,881 110-3 ARC - SloZone 2,144 110-4 ARC - Quick Bolt Coffee 3,701 Credit ($) 110-5 ARC - Revamp Coffee Carts 110-6 ARC - Jandesh's Hot Spot Total 12,570 Please note: Moondollars does not generally give a discount for early payment except in exceptional circumstances. All debtors are on net 30 credit terms. Schedule of accounts payable ~ May Moondollars Schedule of Accounts Payable May 31, 20XX Account No. Name Debit ($) Credit ($) 210-1 APC - Brazil Imports Group 3,432 2/10, n/30 210-2 APC - East Tangiers Co-op. 3,781 1/15, n/30 210-3 APC - Abejundio Coffee 4,668 210-4 APC - Buena Vista Coffee 1,413 2/10, n/30 210-5 APC - Klam Wholesalers 3,144 210-6 APC - Jordo Gourmet Coffee Total Terms net 30 net 30 net 30 16,438 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 9 Post-closing trial balance ~ May Moondollars - Post-closing trial balance, As at May 31, 20XX Account No. 100 102 110 112 120 130 140 141 142 150 151 160 161 210 220 221 222 225 250 300 301 Name Cash Short-term Investments ARC - Accounts Receivable Control Interest Receivable Merchandise Inventory Office Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Office Furniture Accum Depn: Office Furniture Office Equipment Accum Depn: Office Equipment APC - Accounts Payable Control Wages Payable Electricity Payable Water Payable Interest Payable Bank Loan Payable Common Stock Retained Earnings Total 10 Debit ($) 29,477 20,000 12,570 73,322 7,083 6,000 9,000 2,950 9,000 2,031 43,000 13,532 16,438 80,000 100,401 212,402 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Credit ($) 212,402 Bank reconciliation statement ~ May Moondollars Bank Reconciliation Statement As at May 31, 20XX Balance per bank: $32,182 Add: deposit in transit from Quick Bolt Coffee $3,685 1,210 deposit in transit from Central Coffee 4,895 37,077 Deduct: outstanding check No. 901 $6,900 outstanding check No. 902 700 7,600 Adjusted balance per bank $29,477 Balance per book: $29,348 Add: interest earned 134 29,482 Deduct: bank service charge Adjusted balance per book 5 $29,477 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 11 Bank statement ~ June Seattle branch Account No. 69932616 Page No. 1 Adrian Bartos 102 Martin Road Seattle, WA 98101 Moondollars Date Particulars Debit JUN 1 BALANCE BROUGHT FORWARD JUN 1 901 $6,900 JUN 2 902 $700 JUN 4 LOAN JUN 4 DEPOSIT - Quick Bolt Coffee JUN 5 903 JUN 5 DEPOSIT - Central Coffee JUN 6 904 JUN 6 DEPOSIT - Cash sales JUN 9 905 Credit Balance $32,182 CR $25,282 CR $24,582 CR $55,000 $79,582 CR $3,685 $83,267 CR $3,743 $79,524 CR $1,210 $1,385 $80,734 CR $79,349 CR $5,961 $220 $85,310 CR $85,090 CR JUN 10 DEPOSIT - Central Coffee JUN 14 906 JUN 16 DEPOSIT - Cash sales $10,081 $94,587 CR JUN 20 DEPOSIT - Cash sales $9,658 $104,245 CR JUN 20 907 JUN 23 DEPOSIT - Jandesh's Hot Spot JUN 26 NSF CHECK - Jandesh's Hot Spot JUN 26 DEPOSIT - Cash sales JUN 29 909 JUN 30 DEPOSIT - Quick Bolt Coffee JUN 30 910 JUN 30 INTEREST JUN 30 SERVICE CHARGE Last statement to 05/31/XX $2,560 $3,144 $84,506 CR $5,103 $99,142 CR $300 $300 $9,592 $108,734 CR $105,309 CR $3,701 $5,582 $109,010 CR $103,428 CR $234 $5 Total debits $30,507 $99,442 CR $99,142 CR $3,425 This statement to 06/30/XX $87,650 CR $103,662 CR $103,657 CR Total credits $101,982 Final balance $103,657 CR Proceeds of checks will not be available until cleared. All entries for the last business day are subject to verification and authorization. Any items not paid, or withdrawn, will be adjusted by reversal entry on a later statement. NSF means Not-Sufficient-Funds 12 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Transactions for June You will use the following five weeks of transactions as you complete the books for June. Note that the transactions are divided into five separate weeks to help you break your study time into blocks. Week 1 Date Transaction description 1 Purchased Coffee Cup Lids from Abejundio Coffee for $160, terms net 30. 1 Purchased Gourmet Cubed Sugar from Brazil Imports Group for $200, terms 2/10, n/30. 1 Obtained a loan of $55,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 20XX and the principal of the loan is to be repaid at the beginning of June four years later. 2 Paid the full amount owing to East Tangiers Co-op., Check No. 903. Payment fell within discount period. 2 Paid the full amount owing to Buena Vista Coffee, Check No. 904. Payment fell within discount period. 3 Purchased Gourmet Cream with cash for $220, Check No. 905. 4 Made cash sales of $5,961 during the first 4 days of the month. 7 Sold 5 bags of Medium Roast Arabica Coffee Beans to SloZone for $287 each, Invoice No. 201. Week 2 Date Transaction description 9 Central Coffee paid the full amount owing on their account. Since Central Coffee has been a loyal customer from the day the business commenced, a 10% discount was given for this early repayment. 11 Made cash sales of $10,081 during the week. 11 SloZone returned $1,198 worth of product. Issued a Credit Memorandum for $1,198. 12 Sold Chocolate Sprinkles to Jandesh's Hot Spot for $484, Invoice No. 202. 13 Paid the full amount owing to Klam Wholesalers, Check No. 906. Week 3 Date Transaction description 15 Paid sales staff wages of $5,103 for the two weeks up to and including yesterday, Check No. 907. 17 Sold 10 boxes of Plastic Condiment Containers to Revamp Coffee Carts for $206 each, Invoice No. 203. 18 Made cash sales of $9,658 during the week. 18 Returned $1,403 worth of faulty product to Abejundio Coffee. Received a Credit Memorandum for $1,403. 19 Jandesh's Hot Spot paid $300 in partial payment of their account. 21 SloZone paid the full amount owing on their account. 21 Received a purchase order from Jandesh's Hot Spot. Created a corresponding sales order to deliver Gourmet Cream to this customer for $470, Invoice No. 204. COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 13 Week 4 Date Transaction description 24 Delivered Gourmet Cream to Jandesh's Hot Spot for $470, Invoice No. 204, which was ordered on the 21st. 25 Made cash sales of $9,592 during the week. 26 Paid the full amount owing to Brazil Imports Group, Check No. 908. 27 Paid the full amount owing to Abejundio Coffee, Check No. 909. 28 Ordered Organic Chocolate Cream Liqueur from Buena Vista Coffee for $155, agreed terms with Buena Vista Coffee are 2/10, n/30. Week 5 Date Transaction description 14 29 Paid sales staff wages of $5,582 for the two weeks up to and including yesterday, Check No. 910. 30 Received Organic Chocolate Cream Liqueur for $155, which was ordered on the 28th, agreed terms with Buena Vista Coffee are 2/10, n/30. 30 Quick Bolt Coffee paid the full amount owing on their account. 30 Made cash sales of $6,629 during the last 5 days of the month. 30 Paid monthly salary of $5,200 to Adrian Bartos, Check No. 911. PERDISCO ACCOUNTING PRACTICE SET (PCU3e) General journal Date Account and Explanation Record transaction entries below Record bank reconciliation entries on the next page 16 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Post Ref. Debit Credit General journal Date Post Ref. Account and Explanation Debit Credit Record bank reconciliation entries below Record adjusting entries on the next page COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 17 General journal Date Account and Explanation Record adjusting entries below Record closing entries on the next page 18 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Post Ref. Debit Credit General journal Date Post Ref. Account and Explanation Debit Credit Record closing entries below Record reversing entries on the next page COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 19 General journal Date Account and Explanation Record reversing entries below 20 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Post Ref. Debit Credit Sales journal Date Account Invoice No. Post Ref. Amount Post Ref. Amount Purchases journal Date Account Terms COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 21 22 Account PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Date Cash receipts journal Post Ref. Cash Debit Sales Discounts Sales Revenue Accounts Receivable Credit Other Accounts Date Account Cash payments journal Check No. Post Ref. Accounts Payable Other Accounts Cash Purchase Discounts Credit COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) Purchases Debit 23 Blank page for your notes Accounts receivable subsidiary ledger Account: ARC - Central Coffee Account No. 110-1 Date May 31 Description Ref. Debit Credit Balance Balance 2,844 DR Account: ARC - Con's Coffee Account No. 110-2 Date May 31 Description Ref. Debit Credit Balance Balance 3,881 DR Account: ARC - SloZone Account No. 110-3 Date May 26 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 2,144 DR Accounts receivable subsidiary ledger Account: ARC - Quick Bolt Coffee Account No. 110-4 Date May 31 Description Ref. Debit Credit Balance Balance 3,701 DR Account: ARC - Revamp Coffee Carts Account No. 110-5 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: ARC - Jandesh's Hot Spot Account No. 110-6 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 27 Accounts payable subsidiary ledger Account: APC - Brazil Imports Group Account No. 210-1 Date May 31 Description Ref. Debit Credit Balance Balance 3,432 CR Account: APC - East Tangiers Co-op.dio Coffee Account No. 210-2 Date May 31 Description Ref. Debit Credit Balance Balance 3,781 CR Account: APC - Abejundio Coffee Account No. 210-3 Date May 28 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 4,668 CR Accounts payable subsidiary ledger Account: APC - Buena Vista Coffee Account No. 210-4 Date May 31 Description Ref. Debit Credit Balance Balance 1,413 CR Account: APC - Klam Wholesalers Account No. 210-5 Date May 31 Description Ref. Debit Credit Balance Balance 3,144 CR Account: APC - Jordo Gourmet Coffee Account No. 210-6 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 29 General ledger Account: Cash Account No. 100 Date May 31 Description Ref. Debit Credit Balance Balance 29,477 DR Account: Short-term Investments Account No. 102 Date May 31 Description Ref. Debit Credit Balance Balance 20,000 DR Account: ARC - Accounts Receivable Control Account No. 110 Date May 30 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 12,570 DR General ledger Account: Interest Receivable Account No. 112 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Merchandise Inventory Account No. 120 Date May 31 Description Ref. Debit Credit Balance Balance 73,322 DR Account: Office Supplies Account No. 130 Date May 31 Description Balance Ref. Debit Credit Balance 7,083 DR COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 31 General ledger Account: Prepaid Rent Account No. 140 Date May 31 Description Ref. Debit Credit Balance Balance 6,000 DR Account: Prepaid Advertising Account No. 141 Date May 31 Description Ref. Debit Credit Balance Balance 9,000 DR Account: Prepaid Insurance Account No. 142 Date May 32 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 2,950 DR General ledger Account: Office Furniture Account No. 150 Date May 31 Description Ref. Debit Credit Balance Balance 9,000 DR Account: Accum Depn: Office Furniture Account No. 151 Date May 31 Description Ref. Debit Credit Balance Balance 2,031 CR Account: Office Equipment Account No. 160 Date May 31 Description Balance Ref. Debit Credit Balance 43,000 DR COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 33 General ledger Account: Accum Depn: Office Equipment Account No. 161 Date May 31 Description Ref. Debit Credit Balance Balance 13,532 CR Account: APC - Accounts Payable Control Account No. 210 Date May 31 Description Ref. Debit Credit Balance Balance 16,438 CR Account: Wages Payable Account No. 220 Date May 34 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 0 General ledger Account: Electricity Payable Account No. 221 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Water Payable Account No. 222 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Interest Payable Account No. 225 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 35 General ledger Account: Bank Loan Payable Account No. 250 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Common Stock Account No. 300 Date May 31 Description Ref. Debit Credit Balance Balance 80,000 CR Account: Retained Earnings Account No. 301 Date May 36 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 100,401 CR General ledger Account: Income Summary Account No. 310 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Sales Revenue Account No. 400 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Sales Returns and Allowances Account No. 401 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 37 General ledger Account: Sales Discounts Account No. 402 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Interest Revenue Account No. 403 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Purchases Account No. 500 Date May 38 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 0 General ledger Account: Purchase Returns and Allowances Account No. 501 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Purchase Discounts Account No. 502 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Advertising Expense Account No. 511 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 39 General ledger Account: Wages Expense Account No. 516 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Rent Expense Account No. 540 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Electricity Expense Account No. 541 Date May 40 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 0 General ledger Account: Water Expense Account No. 542 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Insurance Expense Account No. 543 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Office Supplies Expense Account No. 544 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 41 General ledger Account: Salary Expense Account No. 545 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Depn Expense: Office Furniture Account No. 560 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Depn Expense: Office Equipment Account No. 561 Date May 42 31 Description Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Ref. Debit Credit Balance 0 General ledger Account: Interest Expense Account No. 571 Date May 31 Description Ref. Debit Credit Balance Balance 0 Account: Admin. Expense - Bank Charges Account No. 572 Date May 31 Description Ref. Debit Credit Balance Balance 0 COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 43 Blank page for your notes Bank reconciliation statement ~ June Moondollars Bank Reconciliation Statement As at June 30, 20XX 46 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Blank page for your notes 48 100 102 110 112 120 130 140 141 142 150 151 160 161 210 220 221 222 225 250 300 301 Credit Debit Debit Credit Adjustments Unadjusted Trial Balance PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Cash Short-term Investments ARC - Accounts Receivable Control Interest Receivable Merchandise Inventory Office Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Office Furniture Accum Depn: Office Furniture Office Equipment Accum Depn: Office Equipment APC - Accounts Payable Control Wages Payable Electricity Payable Water Payable Interest Payable Bank Loan Payable Common Stock Retained Earnings Acct. Account Name No. Debit Credit Adjusted Trial Balance Moondollars - Worksheet For the month ended June 30, 20XX Debit Credit Income Statement Debit Credit Balance Sheet 400 401 402 403 500 501 502 511 516 540 541 542 543 544 545 560 561 571 572 Totals Net income or loss Totals Sales Revenue Sales Returns and Allowances Sales Discounts Interest Revenue Purchases Purchase Returns and Allowances Purchase Discounts Advertising Expense Wages Expense Rent Expense Electricity Expense Water Expense Insurance Expense Office Supplies Expense Salary Expense Depn Expense: Office Furniture Depn Expense: Office Equipment Interest Expense Admin. Expense - Bank Charges Acct. Account Name No. Credit Debit Debit Credit Adjustments Unadjusted Trial Balance Debit Debit Credit Income Statement Debit Credit Balance Sheet COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) Credit Adjusted Trial Balance 49 Schedule of accounts receivable Moondollars Schedule of Accounts Receivable June 30, 20XX Account No. Name Debit ($) Credit ($) Debit ($) Credit ($) Total Schedule of accounts payable Moondollars Schedule of Accounts Payable June 30, 20XX Account No. Name Total 50 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Terms Moondollars Income Statement For the month ended June 30, 20XX INCOME Revenue Net sales revenue COST OF GOODS SOLD GROSS PROFIT OPERATING EXPENSES Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses TOTAL OPERATING EXPENSES INCOME/(LOSS) FROM OPERATIONS Other revenue Other expenses NET INCOME/(LOSS) COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 51 Moondollars Statement of Stockholders' Equity For the month ended June 30, 20XX COMMON STOCK Opening balance May 31, 20XX Issue of common stock Closing balance June 30, 20XX RETAINED EARNINGS Opening balance May 31, 20XX Net income/(loss) Dividend paid Closing balance June 30, 20XX 52 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Moondollars Balance Sheet June 30, 20XX ASSETS Current Assets Total Current Assets Property, Plant and Equipment Total Property, Plant and Equipment TOTAL ASSETS LIABILITIES Current Liabilities Total Current Liabilities Long-term Liabilities TOTAL LIABILITIES STOCKHOLDERS' EQUITY TOTAL EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY COFFEE & CAF SUPPLIER - US GAAP EDITION 3 (PCU3e) 53 Moondollars Post-closing Trial Balance June 30, 20XX Account No. Name Total 54 PERDISCO ACCOUNTING PRACTICE SET (PCU3e) Debit ($) Credit ($) Blank page for your notes Blank page for your notes Blank page for your notes General journal Date June Account and Explanation 11 Sales Return and Allowances ARC - Slozone 18 APC Abejundio Coffee Purchase Return and Allowances 30 Cash Interest Revenue 30 Admin. Exp. Bank Service Charge Cash 30 Account Receivable Control Cash COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. 401 110-3 210-3 501 100 403 572 100 110/110-6 100 Debit Credit 1,198 1,198 1,403 1,403 234 234 5 5 300 300 General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit Sales journal Date June Account 7 12 17 21 ARC - Slozone ARC - Jandesh's Hot Spot ARC - Revamp Coffee Carts ARC - Jandesh's Hot Spot Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Invoice No. 201 Post Ref. 110-3 202 110-6 203 110-5 204 110-6 Amount 1,435 484 2,060 470 4,449 Purchases journal Date June Account 1 1 28 Abejundio Brazil Imports Group Buena Vista Coffee Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Terms net 30 2/10,n/30 2/10,n/30 Post Ref. Amount 210-3 210-1 210-4 160 200 155 515 Cash receipts journal Debit Date June Account 1 4 9 11 18 19 21 25 30 30 Bank Loan Sales Revenue ARC - Central Coffee Sales Revenue Sales Revenue ARC - Jandesh's Hot Spot ARC - Slozone Sales Revenue ARC - Quick Bolt Coffee Sales Revenue Post Ref. 250 400 110-1 400 400 110-6 110-3 400 110-4 Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) 400 Cash 55,000 5,961 2,560 10,081 9,658 300 2,381 9,592 3,701 6,629 105,863 Credit Sales Discounts Sales Revenue Accounts Receivable Other Accounts 55,000 5,961 284 2,844 10,081 9,658 300 2,381 9,592 3,701 6,629 284 41,921 9,226 55,000 COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Cash payments journal Debit Date June June Account 2 2 3 13 15 26 27 29 30 Check No. Post Ref. APC - East Tangiers Co-op APC - Buena Vista Coffee Purchase APC - Klam Wholesalers Wages Expense APC - Brazil Imports Group APC - Abejundio Coffee Wages Expense Salary Expense Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) 903 904 905 906 907 908 909 910 911 210-2 210-4 Accounts Payable Credit Purchases Other Accounts 3,781 1,413 500 210-5 38 28 5,582 5,200 15,885 31,434 66 220 516 5,103 3,632 3,425 516 545 15,395 220 Purchase Discounts 3,743 1,385 220 3,144 5,103 3,632 3,425 5,582 5,200 3,144 210-1 210-3 Cash Accounts receivable subsidiary ledger Account: ARC - Central Coffee Account No. 110-1 Date May June Description 31 Balance 9 Repayment Ref. Debit CRJ Credit 2,844 Balance 2,844 0 Account: ARC - Con's Coffee Account No. 110-2 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: ARC - SloZone Account No. 110-3 Date May June 31 7 11 21 Description Balance Sales Revenue Sales Return and Allowances Repayment Ref. SJ GJ CRJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 1,435 1,198 2,381 Balance 2,144 3,579 2,381 0 Accounts receivable subsidiary ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Accounts receivable subsidiary ledger Account: ARC - Quick Bolt Coffee Account No. 110-4 Date May June Description 31 Balance 30 Repayment Ref. Debit CRJ Credit 3,701 Balance 3,701 0 Account: ARC - Revamp Coffee Carts Account No. 110-5 Date May June Description 31 Balance 17 Sales Revenue Ref. SJ Debit Credit Balance 0 2,060 2,060 Account: ARC - Jandesh's Hot Spot Account No. 110-6 Date May June 31 12 19 21 30 Description Ref. Balance Sales Revenue Cash Sales Revenue Bank Rec - Bouned Check SJ CRJ SJ GJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 484 300 470 300 Balance 0 484 184 654 954 Balance DR Balance Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance DR Balance DR Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Accounts payable subsidiary ledger Account: APC - Brazil Imports Group Account No. 210-1 Date May June Description 31 Balance 1 Purchases 26 Cash Ref. PJ CPJ Debit Credit 200 3,632 Balance 3,432 3,632 0 Account: APC - East Tangiers Co-op. Account No. 210-2 Date May June Description 31 Balance 2 Repayment Ref. CPJ Debit Credit Balance 3,781 0 3,781 Account: APC - Abejundio Coffee Account No. 210-3 Date May June Description 31 1 Purchases 18 Purchase Returns and Allowances 27 Repayment Ref. PJ GJ CPJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 160 1,403 3,425 Balance 4,668 4,828 3,425 0 Accounts payable subsidiary ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Accounts payable subsidiary ledger Account: APC - Buena Vista Coffee Account No. 210-4 Date May June Description 31 Balance 2 Repayment 28 Purchase Ref. CPJ PJ Debit Credit 1,413 155 Balance 1,413 0 155 Account: APC - Klam Wholesalers Account No. 210-5 Date May June Description 31 Balance 13 Cash Ref. CPJ Debit Credit Balance 3,144 0 3,144 Account: APC - Jordo Gourmet Coffee Account No. 210-6 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 Balance CR Balance CR Balance CR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance CR CR Balance CR Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Cash Account No. 100 Date May June 31 30 30 30 30 30 Description Balance Total From Cash Receipts Journal Total From Cash Payment Journal Bank Rec Bank Rec Bank Rec Ref. CRJ CPJ GJ GJ GJ Debit Credit 105,863 31,434 234 5 300 Balance 29,477 135,340 103,906 104,140 104,135 103,835 Account: Short-term Investments Account No. 102 Date May Description Ref. Debit Credit 31 Balance Balance 20,000 Account: ARC - Accounts Receivable Control Account No. 110 Date May June 31 30 30 30 30 Description Balance Total from Sales Journal Total from Cash Receipts Journal General Journal Entry General Journal Entry Ref. SJ CRJ GJ GJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 4,449 9,226 1,198 300 Balance 12,570 17,019 7,793 6,595 6,895 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Interest Receivable Account No. 112 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Merchandise Inventory Account No. 120 Date May Description Ref. Debit Credit 31 Balance Balance 73,322 Account: Office Supplies Account No. 130 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 7,083 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Prepaid Rent Account No. 140 Date May Description Ref. Debit Credit 31 Balance Balance 6,000 Account: Prepaid Advertising Account No. 141 Date May Description Ref. Debit Credit 31 Balance Balance 9,000 Account: Prepaid Insurance Account No. 142 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 2,950 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Office Furniture Account No. 150 Date May Description Ref. Debit Credit 31 Balance Balance 9,000 Account: Accum Depn: Office Furniture Account No. 151 Date May Description Ref. Debit Credit 31 Balance Balance 2,031 Account: Office Equipment Account No. 160 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 43,000 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Accum Depn: Office Equipment Account No. 161 Date May Description Ref. Debit Credit 31 Balance Balance 13,532 Account: APC - Accounts Payable Control Account No. 210 Date May June 31 30 30 30 Description Balance Total From Purchase Journal Total From Cash Payment Journal General Journal Entry Ref. PJ CPJ GJ Debit Credit 515 15,395 1,403 Balance 16,438 16,953 1,558 155 Account: Wages Payable Account No. 220 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Electricity Payable Account No. 221 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Water Payable Account No. 222 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Interest Payable Account No. 225 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Bank Loan Payable Account No. 250 Date May June Description 31 Balance 1 Cash Ref. Debit CRJ Credit 55,000 Balance 55,000 Account: Common Stock Account No. 300 Date May Description Ref. Debit Credit 31 Balance Balance 80,000 Account: Retained Earnings Account No. 301 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 100,401 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Income Summary Account No. 310 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Sales Revenue Account No. 400 Date May June Description 31 Balance 30 Total From Sales Journal 30 Total From Cash Receipts Journal Ref. Debit SJ CRJ Credit 4,449 41,921 Balance 0 4,449 46,370 Account: Sales Returns and Allowances Account No. 401 Date May June Description 31 Balance 11 ARC - Slozone Ref. GJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit 1,198 Credit Balance 0 1,198 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Sales Discounts Account No. 402 Date May June Description 31 Balance 30 Total From Cash Receipts Jounral Ref. CRJ Debit Credit Balance 0 284 284 Account: Interest Revenue Account No. 403 Date May June Description Ref. Debit 31 Balance 30 General Journal Entry Credit 234 Balance 0 234 Account: Purchases Account No. 500 Date May June Description 31 Balance 30 Total From Purchses Journal 30 Total From Cash Payments Journal Ref. PJ CPJ COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 515 220 Balance 0 515 735 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Purchase Returns and Allowances Account No. 501 Date May June Description 31 Balance 18 APC - Abejundio Coffee Ref. Debit GJ Credit Balance 1,403 0 1,403 Account: Purchase Discounts Account No. 502 Date May June Description 31 Balance 30 Total From Cash Payments Journal Ref. Debit Credit CPJ Balance 66 0 66 Account: Advertising Expense Account No. 511 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Wages Expense Account No. 516 Date May June Description 31 Balance 15 Cash 29 Cash Ref. CPJ CPJ Debit Credit Balance 0 5,103 10,685 5,103 5,582 Account: Rent Expense Account No. 540 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Electricity Expense Account No. 541 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Water Expense Account No. 542 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Insurance Expense Account No. 543 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Office Supplies Expense Account No. 544 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Salary Expense Account No. 545 Date May June Description 31 Balance 30 Cash Ref. CPJ Debit Credit Balance 0 5,200 5,200 Account: Depn Expense: Office Furniture Account No. 560 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Depn Expense: Office Equipment Account No. 561 Date May Description Ref. 31 Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit Balance 0 General ledger COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General ledger Account: Interest Expense Account No. 571 Date May Description Ref. Debit Credit 31 Balance Balance 0 Account: Admin. Expense - Bank Charges Account No. 572 Date May June 31 Balance 30 Bank Rec Description Ref. GL COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit Credit 5 Balance 0 5 Balance DR Balance DR Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance DR Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance DR Balance DR Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance DR Balance DR Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance CR Balance CR Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance CR Balance CR Balance CR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance CR Balance CR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance Balance COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Balance DR COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Bank reconciliation statement Moondollars Bank Reconciliation Statement June 30, 20XX Balance per Bank Add: Deposit in Transit from Slozone Cash Sales Not Yet Reflected Total Deduct: Outstanding Check 908 Outstanding Check 911 Adjusted Balance as per Bank 103,657 2,381 6,629 3,632 5,200 COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) 8,832 103,835 103,906 Balance per Book Add: Interest Earned Deduct: Bank Service Charge Non-Sufficient Funds (NSF) Check Adjusted Balance per Book 9,010 112,667 234 104,140 5 300 305 103,835 Moondollars - Worksheet June 30, 20XX Acct. Account Name No. 100 102 110 112 120 130 140 141 142 150 151 160 161 210 220 221 222 225 250 300 301 Cash Short-term Investments ARC - Accounts Receivable Control Interest Receivable Merchandise Inventory Office Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Office Furniture Accum Depn: Office Furniture Office Equipment Accum Depn: Office Equipment APC - Accounts Payable Control Wages Payable Electricity Payable Water Payable Interest Payable Bank Loan Payable Common Stock Retained Earnings Unadjusted Trial Balance Debit Credit Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit 103,835 20,000 6,895 73,322 7,083 6,000 9,000 2,950 9,000 73,322 60,857 2,031 43,000 COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) 13,532 155 55,000 80,000 100,401 100,401 60,857 Credit Moondollars - Worksheet June 30, 20XX Acct. Account Name No. 400 401 402 403 500 501 502 511 516 540 541 542 543 544 545 560 561 571 572 Sales Revenue Sales Returns and Allowances Sales Discounts Interest Revenue Purchases Purchase Returns and Allowances Purchase Discounts Advertising Expense Wages Expense Rent Expense Electricity Expense Water Expense Insurance Expense Office Supplies Expense Salary Expense Depn Expense: Office Furniture Depn Expense: Office Equipment Interest Expense Admin. Expense - Bank Charges Totals Unadjusted Trial Balance Debit Credit 46,370 1,198 284 234 735 1,403 66 10,685 5,200 5 299,192 Net income or loss Totals COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) 299,192 Adjustments Debit Credit Adjusted Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit 100,401 COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Balance Sheet Debit Credit COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Schedule of accounts receivable Moondollars Schedule of Accounts Receivable June 30, 20XX Account No. Name Debit ($) Credit ($) Total Schedule of accounts payable Moondollars Schedule of Accounts Payable June 30, 20XX Account No. Name Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit ($) Credit ($) Terms Moondollars Income Statement For the month ended June 30, 20XX INCOME Revenue Net sales revenue COST OF GOODS SOLD GROSS PROFIT OPERATING EXPENSES Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses TOTAL OPERATING EXPENSES INCOME/(LOSS) FROM OPERATIONS Other revenue Other expenses COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) NET INCOME/(LOSS) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Moondollars Statement of Stockholders' Equity For the month ended June 30, 20XX COMMON STOCK Opening balance May 31, 20XX Issue of common stock Closing balance June 30, 20XX RETAINED EARNINGS Opening balance May 31, 20XX Net income/(loss) Dividend paid Closing balance June 30, 20XX COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Moondollars Balance Sheet June 30, 20XX ASSETS Current Assets Total Current Assets Property, Plant and Equipment Total Property, Plant and Equipment TOTAL ASSETS LIABILITIES Current Liabilities Total Current Liabilities Long-term Liabilities TOTAL LIABILITIES STOCKHOLDERS' EQUITY TOTAL EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Moondollars Post-closing Trial Balance June 30, 20XX Account No. Name Total COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Debit ($) Credit ($) COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) General journal Date June Account and Explanation 11 Sales Return and Allowances ARC - Slozone APC Abejundio Coffee 18 Purchase Return and Allowances 30 Cash Interest Revenue 30 Admin. Exp. Bank Service Charge Cash Account Receivable Control 30 Cash COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. 401 110-3 210-3 501 100 403 572 100 110/110-6 100 Debit Credit 1,198 1,198 1,403 1,403 234 234 5 5 300 300 General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref. Debit Credit General journal Date Account and Explanation COFFEE CAF SUPPLIER - US GAAP EDITION 3 (PCU3e.S1) Post Ref