Hi, attached please find a project I need help with. I have filled out some parts, but I'm not sure if they're accurate. The instructions are on the "instructions" tab and it involves ordering out the raw accounting data and making journal entries, balance sheet, etc..

Thank you for your time!

0 Instructons 1 2 3 4 Column C Column D Column E Column F Column G 5 6 Column H Column I 7 Prepare 2014's balance sheet. Prepare the journal entry for income taxes. Post all adjustng entries. j h f work sheet (list all accounts, including those with zero balances). and update the receivable and payable subsidiary ledger accounts. Chart Title 350000 300000 250000 200000 150000 100000 50000 8 910 ACCT 3312 Project Narratve and Instructons Rockford Corporaton is a wholesale plumbing supply distributor. The corporaton was organized in 1981, under the laws of the State of Illinois, with an authorized capitalizaton of 10,000 shares of no-par common stock with a stated value of $30 per share. The common stock is sold over the the counter in the local area. You have been hired as of Thursday, December 25, 2014, to replace the controller, who has resigned. As controller, you are responsible for the corporaton's accountng recrods, preparaton of the financial statements, safeguarding the corporate assets, and providing management with financial informaton to set prices and to monitor and control operatons. Rockford Corporaton closes its books annually on December 31 but prepares financial statements quarterly. Adjustng entries are posted to the general ledger only at year-end; at the end of the first, second, and third quarter the adjustments are entered only on a work sheet, not in the general ledger. Therefore, the adjustng entries to be recorded on December 31 are annual adjustments that you must journalize and the post to the general ledger accounts before preparing the financial statements. Rockford Corporaton maintains a perpetual inventory system and takes a physical count each year to adjust the inventory carrying amount. Purchases are recorded at the gross amount (discounts taken are recognized at the date of payment) of the supplier's invoice, and the terms vary with each supplier. Sales on account are subject to terms of 2/10, n/30. Discounts are taken and granted only when the terms are met. The cost of all inventory sold in December was 80% of the sales price. The corporaton uses the following journals and ledgers: Journals 1. A sales journal (S) - to record sales of merchandise on account. 2. A purchase journal (P)- to record purchases of merchandise on account. 3. A cash receipts journal (CR) - to record all cash receipts. 4. A cash disbursements journal (CD) - to record all cash payments. 5. A general journal (J) - to record all transacitons that cannot be recorded in the other journals. Ledgers 1. A general ledger 2. An accounts receivable subsidiary ledger. 3. An accounts payable subsidiary ledger. In recording sales transactons, each sale should be posted on the day of the sale directly to the customer's account in the subsidiary ledger, using the invoice number as the postng reference number in the subsidiary account. Also, cash receipts from customers should be posted to the subsidiary ledger on the day they are received. The purchase order number should be used as the postng reference number in the subsidiary ledger for purchases on account from suppliers. Purchases from suppliers and payments to them should be posted daily. All other individual postng may be made weekly or at the month-end. Account numbers should be used as postng reference numbers in the journals. Officers and office personnel are salaried employees and are paid monthly on the last day of each month. The delivery truck drivers and warehouse employees are hourly wage employees and are paid biweekly. Each biweekly pay period ends Friday. On the following Monday you assistants provide you with a payroll summary from which you prepare general journal entries adapted from Rockford Practice Set @Wiley ACCT 3312 Project to record the biweekly payroll and the employer's taxes on the payroll. The biweekly employees' paychecks are distributed on the following day (Tuesday). The January 1, 2014, balances appear in the general ledger accounts as well as the Noverber 30, 2014, balances, for those accounts whose balances have changed. All transacitons affectng the noncurrent accounts from January 1, 2014, through Noverber 30, 2014, with explanatons, appear in these accounts to facilitate the preparaton of the statement of cash flows. Subsidiary ledger account balances as of Noverber 30, 2014, are as follows: Accounts Receivable Boecker Builders The Potts Company Swanson Brothers Contructon A & B Hardware Trudy's Plumbing Coconino Contractors Inc Rankin Plumbing Corp Beverly's Building Products Bilder Constructon Co Iwanaga Plumbing and Heatng Total Acct No Amount 117 62,920 122 50,300 133 24,050 143 155 15,100 160 27,800 166 74,350 175 14,000 180 45,200 190 3,700 317,420 Accounts Payable Phoenix Plastcs Business Basics Inc Edward's Plumbing Suppliers DeKalb Transport Oxenford Copperworks Smith Pipe Co Ron & Rod's Plumbing Products Khatan Steel Corp Total Acct No Amount 14 17,450 16 18 20,050 20 35 26,400 39 38,100 44 14,850 57 10,000 126,850 The transactons through December 23 have already been recorded by the former controller. You are to begin your work by entering the transacton of December 25 for the payment of cash to repurchase stock. S 7 14 21 28 M 1 8 15 22 29 T 2 9 16 23 30 Dec-14 W 3 10 17 24 31 T 4 11 18 25 F 5 12 19 26 adapted from Rockford Practice Set @Wiley S 6 13 20 27 ACCT 3312 Project December Transactons December 1 Received a check in the amount of $23,569 from Swanson Brothers Contructon in full payment of invoice No. 1120 dated Novermber 26 in the amount of $24,050. 1 Sold sewer and drainage pipe to Beverly's Building Products on account, invoice No. 1201 for $13,150. 2 Purchased copper tubing and fittings from Edward's Plumbing Supplies Inc. on account, purchase order No. 315 for $24,320, terms n/60. 2 Issued check No. 1580 for $26,400 to Oxenford Copperworks in settlement of the balance owned on purchase order No. 280. 3 A court notce indicates that Iwanaga Plumbing and Heatng is bankrupt and payment of its account improbable; the president orders the account to be written off as a bad debt (invoice No. 780). 3 Sold bathroom fixtures to Bilder Constructon Co on account, invoice No. 1202 for $44,900.00 4 Received a check in the amount of $49,294 from the Potts Co in full payment of invoice No. 1128 dated November 27 for $50,300. 4 Sold plumbing supplies and plastc pipe to Coconino Contractors Inc. on account, invoice No. 1203 for $10,300. 4 Issued check No. 1581 for $810 to Standard Oil Co, in payment of gas, oil, and truck repair from Tierney's Standard Service. 5 Issued check No. 1582 for $9,900 to Khatan Steel Corp. in full settlement of purchase order No. 312 for $10,000. 5 Issued check No. 1583 for $10,486 to Phoenix Plastcs in full payment of Phoenix's invoice dated November 28 in the amount of $10,700, for purchase order No. 313, terms 2/10, n/30. 5 Received a check in the amount of $72,863 from Rankin Plumbing Corp. in full payment of invoice No. 1129 dated November 28 for $74,350. 8 Sold cast pipe to Trudy's Plumbing on account, invoice No. 1204 for $29,300. 8 Received a check in the amount of $27,800 from Coconion Contractors, Inc. in full payment of invoice No. 1091 dated October 20. 8 Purchased bathroom fixtures from Phoenix Plastcs, on account, purchcase order No. 316 for $52,700 terms 1/10, n/30. 8 Received a check in the amount of $29,000 from Boecker Builders in partal payment of balance outstanding covering invoice Nos. 1050 and 1071. 9 The payroll summary for the biweekly pay period ended Friday, December 5 contained the follwing informaton: Delivery and warehouse wages 4,860 FICA taxes withheld 350 Federal income taxes withheld 900 State income taxes withheld 190 Net pay 3,420 Employer's payroll taxes: FICA tax 350 Federal unemployment tax State unemployment tax Issued check No. 1584 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then preppared for distributons to the biweekly adapted from Rockford Practice Set @Wiley ACCT 3312 Project emplyees on Tuesday, December 9, 2014. 9 Issued check No. 1585 for $600 to Scooter Gordon for lettering and sign paintng on some delivery trucks. 9 Issued check No. 1586 for $6,750 to Phoenix Plastcs, in payment of Phoenix's invoice dated November 12 in the amount of $6,750, our purchase order No. 299. 10 Issued check No. 1587 for $37,719 to Smith Pipe Co in full payment of their invoice dated November 28, terms 1/15, n/30, our purchase order No. 314. 10 Received a check in the amount of $15,100 from Trudy's Plumbing in full settlement of invoice No. 1106 dated November 7. 10 Sold pipe, fixtures, and accessories to Trudy's Plumbing on account, invoice No. 1205 for $28,850.00 11 Sold pumbing supplies and copper tubing to The Potts Company on account, invoice No. 1206 for $31,450. 11 Received a check in the amount of $33,920 from Boecker Builders in full payment of invoice No. 1071. 11 Cash sales to date totaled $12,292. 12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of inoivce No. 1204. 12 Sold plumbing fixtures and supplies to Boecker Builders, on account, invoice No. 1207 for $24,730. 15 The Potts Co returned defectve copper tubing that is purchased on December 11. A credit memo in the amount of $4,680 is issued relatve to invoice No. 1206. The copper tubing had a cost of $3,550. 15 The defectve copper tubing is returned to Edward's Plumbing supplies, Inc. along with a debit memo in the amount of $3,550 in reducton of purchase order No. 315. 15 Issud check No. 1588 for $399 in payment of November telephone bill to Northern Illinois Communicatons. 16 Issued check No. 1589 in the amount of $11,360 in payment of federal withholding taxes, $9,573, and FICA taxes, $1787, payable on November salaries and wages; The check is remitted to the Winnebago County Bank as the depository. 16 Issued check No. 1590 for $52,173 to Phoenix Plastcs, Inc, in payment of purchase order No. 316. 17 The president informs you that Bilder Constructon Co agrees to convert the $45,200 overdue account receivable (invoice No. 1120) to a 14% note due six months from today. 17 Purchased plumbing materials from Smith Pipe Company on account, purcase order No. 317 for $50,800 terms 1/15, n/60. 17 Sold drain tle, plastc pipe, and copper tubing to A & B Hardware on account, invoice No. 1208 for $7,920. 18 Sold fixtures and materials to Coconino Contractors, Inc. on account, invoice No. 1209 for $42,780.00 18 An invoice in the amount of $1,021 was received from S. White Trucking Company for freight on purchase order No. 317 and paid by issuing check No. 1591. 18 Received a check in the amount of $28,273 from Trudy's Plumbing in payment of invoice No. 1205. 19 Purchased office supplies from the Pen & Pad, issuing check No. 1592 in the amount of $1,360. (Note: Debit asset account). 19 Purchased a new Faith computer for $6,100 from Business Basics, Inc, purchase order adapted from Rockford Practice Set @Wiley ACCT 3312 Project No, 318, paying $600 down through check No. 1593 with the balance due in thirty days (n/30). The computer has an estmated life of five years with a salvage value of $1,300. 22 Purchased bathroom and kitchen fixtures from Phoenix Plastcs, on account, purchase order No. 319 for $48,330, terms 1/10, n/30. 22 Received a bill from DeKalb Transport for $2,300 for freight costs incurred during the last 30 days, terms n/30. 23 The payroll summary for the biweekly pay period ended Friday, December 19 contained the follwing informaton: Delivery and warehouse wages 5,770 FICA taxes withheld 415 Federal income taxes withheld 1,067 State income taxes withheld 225 Net pay 4,063 Employer's payroll taxes: FICA tax 415 Federal unemployment tax State unemployment tax Issued check No. 1594 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then prepared for distributons to the biweekly emplyees on Tuesday, December 23. NOTE: Transactions up to this point have been recorded. At this point you became controller and are responsible for recordign all further transactions. 25 The board of directors voted to purchase 1,200 shares of its own stock from stockholder Dionne Schivone at $86 per share and issued check No. 1595 in payment. Stock repurchases are recorded at cost. Rockford is purchasing these shares because Ms. Schivone had been a valuable employee. 26 The baord of directors declared a $1.60 per share cash dividend payable on January 14 to shareholders of record by the end of the day of December 26. 26 The president informs you that Beverly's Building Products agrees to convert the $14,000 overdue accounts receivable (invoice No. 1119) balance to a 12% note due six months from today. 29 A half-acre parcel of land adjacent to the building is acquired in exchange for 600 shares of unissued common stock. The land has a fair value of $58,000 and will be used immediately as an outside storage lot and parking lot. 29 An invoice in the amount of $2,950 is received from Wayne McManus, lawyer, for legal services involved in the acquisiton of the adjacent parcel of land; check No. 1596 is issued. 29 Sold pipe and plumbing materials to Boecker Builders on account, invoice No. 1210 for $47,040.00 30 Issued check No. 1597 in the amount of $1,500 to the Northern Star for adverstsement run in the home building supplement of December 13. 30 Issued check No. 1598 in the amount of $750 to Standard Oil Co. in payment of gas, oil, and truck repairs from Standard Oil Co. (use Freight-out). 30 Purchased copper and cast iron pipe from Oxenford Copperworks on account, purchase order No. 320 for $63,940, terms 1/10, n/30. 30 Check No. 1599 for $14,000 is issued to the bond sinking fund trustee, Chicago Trust Co., adapted from Rockford Practice Set @Wiley ACCT 3312 Project for deposit in the sinking fund. (Use Other Assets). 30 Sold plumbing supplies to Swanson Brothers Constructon on account, invoice No. 1211 for $24,350. 31 Received a check for $24,730 from Boecker Builders in payment of invoice No. 1207. 31 Issued check No. 1600 for $50,292 to Smith Pipe Company in payment of purchase order No. 317. 31 The custodian of the petty cash fund submits the following receipts for reimbursement and reports a cash-on-hand count of $8. Postage stampls used $38 United Parcel (freight-out) 23 C.O.D postage (freight costs) 51 Christmas office decoratons 30 Check No. 1601 is issued and cashed to reimburse the fund. 31 Sold an electric truck-lift to Leila Sterman Co. for $2,600 cash. The original cost was $7,900 with salvage value of $900, a life of 10 years, and accumulated depreciaton recorded through 11/31/13 is $4,550. The straight-line method is used. (Note: the company follows the practce of recording a half year's depreciaton in the year of acquisiton and a half year in the year of disposal.) First, bring the depreciaton expense up to date in the general journal. Then journalize the entre entry for the sale in the cash receipts journal. 31 Sold bathroom fixtures and plumbing supplies to Trudy's Plumbing on account, invoice No. 1212 for $58,770. 31 Because for some tme the petty cash fund has been smaller than required for monthly expenditures, the fund is increased by $95 by cashing check No. 1602 and placing the money in the petty cash fund. 31 The payroll summary for the monthly paid employees in submitted so that December checks can be distributed before the year-end; the details are as follows: Office and administratve salaries $43,900 Federal income taxes withheld 7,696 State income taxes withheld 1,517 FICA taxes withheld 3,120 Net pay $31,567 Issued check No, 1603 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were prepared for distributon to all monthly employees by the end of the day. Employer's payroll taxes: FICA tax (all office and administratve) $3,120 Federal unemployment tax 0 State unemployment tax 0 31 Cash sale since December 12 total $29,280. Instructons 1 Make the entries in the appropriate journal for December 25 through December 31. (adjustng entries are recorded in general journal) adapted from Rockford Practice Set @Wiley ACCT 3312 Project 2 Post any amounts to be posted as individual amounts from journals to the general ledger and update the receivable and payable subsidiary ledger accounts. (only a few entries are posted for Dec, e.g., account receivable. Please post all other entries) 3 Foot and cross-foot the columnar journals and complete the month-end postngs of all books of orginal entry. 4 Prepare a trial balance by entering the accout balance from the general ledger in the work sheet (list all accounts, including those with zero balances). 5 From the following informaton prepare adjustng entries in the general journal and enter them in the work sheet. a The annual provison for doubtful accounts receivable is recorded by providing a charge to Bad Debt Expense in an amount equal to 2.2% of net credit sale. All cash sales were executed in December. b An inventory count of the office supplies revealed $850 of supplies on hand at year end. c The prepaid insurance on January 1, 2014 was $3,220, which covers the period January 1 through August 31, 2014. The insurance premium of $7,800 recorded in August covers the period of September 1, 2014 through August 31, 2015. Rockford estmates that 60% of the premiums are attributable to general actvites (Use Insurance Expense) and 25% to selling actvites. (Use Miscellaneous Expense). d The payroll summary for the employees who are paid biweekly shows the following informaton at December 31, 2014: Delivery and Warehouse Wages $6,100 FICA Taxes Payable 430 Federal Withholding Taxes 1,036 State Withholding Taxes 218 Net pay 4,416 (will pay in 2015) e The employer's share of the FICA tax ($430) must be accrued; no state or federal unemployment tax is incurred during the fourth quarter because all wages and salries earned during the last quarter exceed the manimum subject to unemployment tax. f Interest has accrued at 7% on the long-term notes payable since July 1,2014. These interests are due on January 1, 2015 (The first six-month interests have been recorded and paid in July). Interest on bonds is accrued and paid semi-annually, at a 4% annual coupon rate. The next interest payment is due on January 1, 2015. The bonds are dated January 1, 2008, and mature January 1, 2018. Market interest rate was 6% at issurance . Use effectve interest amortzaton method. g The interest accrued to 12/31/14 on notes receivable is composed of the following: Platteville Plumbers, 10%, 6 months, due March 31, 2015 $1,325 Bilder Constructon, 11%, 6 months, due June 14, 2015 232 Beverly's Building, 9%, 6 months, due June 26, 2015 17 $1,574 The interst accrued at 12/31/14 on the note payable (current) of $15,000 is $1,200. Interest is payable on January 2, 2015. (The note is due in 2015) h A warehouse lease payment of $9,600 was made on Septermber 1, 2014, adapted from Rockford Practice Set @Wiley ACCT 3312 Project i j for rental through February 28, 2015. (The Prepaid Rent account is for advance lease payments on the warehouse.) $730 is owned to Northern Electric Co. and $279 is owned to City of Rockford for utlity services proved during December 2014. Plant and equipmentto be depreciated are composed of the following: depreciat Date estmated salvage on Assets Acquired cost usage or life value method Building 7/1/2010 $306,000 25 years $20,000 sum-of-years' digits Truck #1 4/1/2010 28,000 60,000 miles 3,100 miles driven Truck #2 9/1/2011 33,000 60,000 miles 4,200 miles driven Lift Truck #1* 8/17/2007 7,900 10 years 900 straight-line Lift Truck #2 3/29/2011 4,500 10 years 500 straight-line Lift Truck #3 9/16/2012 5,000 10 years 500 straight-line Office EquipmePrior to 1/1/14 32,800 7 years 2,000 straight-line Computer 12/19/2014 6,100 4 years 1,300 Double-decling * sold 12/31/14 Truck No. 1has been driven 45,000 miles prior to 1/1/14 and truck No. 2 has been driven 30,500 miles prior to 1/1/14. During 2014 truck No. 1 was driven 13,000 miles and truck No. 2 was driven 17,000 miles. Remember that Rockford Company takes a half-year's depreciaton in the year of acquisiton and a halfyear in the year of sale. 6 Complete the worksheet. Compute State of Illinois corporate income taxes at 4.5% of pretax income. The state income tax is deductble on the federal tax return, and the federal tax is not deductble on the Illinois return. Assume federal corporate income tax on income subject to federal tax is as follows: first $50,000 15% next 25,000 25% remainder 34% Income between $100,000 and $335,000 is assessed a 5% federal surtax, not to exceed $11,750.00 7 Prepare the journal entry for income taxes. Post all adjustng entries. 8 Prepare 2014's income statement (assume the weighted-average number of shares outstanding for the year 2014 is 5,600 shares). Assume that bad debt expense and depreciaton expense are administratve expenses. 9 Prepare 2014's statement of retained earnings. 10 Prepare 2014's balance sheet. adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley ACCT 3312 Project adapted from Rockford Practice Set @Wiley Date Account Titles ENTRIES FROM PRIOR CONTROLLER: 3-Dec Allowance for Doutful Account Accounts Receivable - Iwanaga Plumbing and Heatng 9-Dec Payroll Tax Expense FICA Taxes Payable 15-Dec Sales Returns and Allowance Accounts Receivable - The Potts Co Ref 113 112/190 730 214 Debit Credit 3,700 3,700 350 350 412 112/122 4,680 120 505 3,550 15-Dec Accounts Payable - Edward's Plumbing Supplies Inc Inventory 201/18 120 3,550 17-Dec Notes Receivable Accounts Receivable - Bilder Constructon 115 112/180 45,200 22-Dec Inventory Accounts Payable - DeKalb Transport 120 201/20 2,300 730 214 415 Inventory Cost of Goods Sold 23-Dec Payroll Tax Expenses FICA Taxes Payable 4,680 3,550 3,550 45,200 2,300 415 Date Order No Account Credited 2-Dec 315 Edward's Plumbing Supplies, Inc. n/60 8 316 Phoenix Plastcs 1/10, n/30 17 317 Smith Pipe Company 1/15, n/60 19 318 (see cash disbursements journal) 22 319 Phoenix Plastcs 1/10, n/30 Account No Amount 18 24,320 14 52,700 39 50,800 14 48,330 Date Invoice No Account Debited 1-Dec 1201 Beverly's Building Products 3 1202 Bilder Constructon Co 4 1203 Coconino Contractors, Inc 8 1204 Trudy's Plumbing 10 1205 Trudy's Plumbing 11 1206 The Potts Company 12 1207 Boecker Builders 17 1208 A & B Hardware 18 1209 Coconino Contractors, Inc Acct No. Acct. Rec. Dr Sales Rev. Cr 175 13,150 180 44,900 160 10,300 155 29,300 155 28,850 122 31,450 117 24,730 143 7,920 160 42,780 COGS Dr inventory Cr 10,520 35,920 8,240 23,440 23,080 25,160 19,784 6,336 34,224 Date Descripton Cash Dr Sales Discounts Dr Ref AR Cr Sales Rev Cr Sundry Acct. Acct No 1-Dec Swanson Brothers Constructon 4 The Potts Company 5 Rankin Plumbing Corp 8 Coconino Contractors Inc 8 Boecker Builders 10 Trudy's Plumbing 11 Boecker Builders 11 Cash Sales 23,569 49,294 72,863 27,800 29,000 15,100 33,920 12,292 481 1,006 1,487 133 122 166 160 117 155 117 24,050 50,300 74,350 27,800 29,000 15,100 33,920 12,292 505 120 12 Trudy's Plumbing 18 Trudy's Plumbing 28,714 28,273 586 577 155 155 29,300 28,850 Sundry Acct. Dr Cr 9,834 9,834 Date Check No Payee Cash Cr Ref AP Dr Inventory Cr Acct No 2-Dec 4 5 5 9 1580 Oxenford Copperworks 1581 Standard Oil Company 1582 Khatan Steel Corp. 1583 Phoenix Plastcs 1584 Payroll Bank Account 26,400 810 9,900 10,486 3,420 9 9 10 15 16 1585 Scooter Gordon 1586 Phoenix Plastcs 1587 Smith Pipe Company 1588 N. ILL. Communicatons 1589 Winnebago County Bank 600 6,750 37,719 399 11,360 16 18 19 19 1590 Phoenix Plastcs 1591 S. White Trucking 1592 Pen & Pad 1593 Business Basics Inc 52,173 1,021 1,360 600 23 1594 Payroll Bank Account 4,063 35 26,400 57 14 10,000 10,700 14 39 14 6,750 38,100 52,700 Sundry Acct. Dr Cr 644 810 726 214 216 218 610 4,860 732 216 214 399 9,573 1,787 120 126 151 201/16 726 214 216 218 1,021 1,360 6,100 100 214 350 900 190 600 381 527 5,500 5,770 415 1,067 225 Account: Cash Date Explanaton 30-Nov Balance Ref Debit Account: Petty Cash Date Explanaton 30-Nov Balance Ref Debit Account: Accounts Receivable Date Explanaton 30-Nov Balance Ref Debit Account: Allowance for Doubtful Accounts Date Explanaton 30-Nov Balance Ref Debit Account: Notes Receivable Date Explanaton 30-Nov Balance Ref Debit Account: Interest Receivable Date Explanaton 30-Nov Balance Ref Debit Account: Inventory Date Explanaton 30-Nov Balance Ref Debit Account: Supplies Date Explanaton 30-Nov Balance Ref Debit Account: Prepaid Insurance Date Explanaton 30-Nov Balance Ref Debit Account: Prepaid Rent Date Explanaton 30-Nov Balance Ref Debit Account:Other Assets Date Explanaton 30-Nov Balance Ref Debit Explanaton 1-Jan Balance Ref Debit Explanaton 1-Jan Balance Ref Debit Ref Debit Account:Land Date Account:Building Date Account:Accum. Depr - Building Date Explanaton 1-Jan Balance Account:Equipment Date Explanaton 1-Jan Balance Ref Debit Account:Accum. Depr - Equipment Date Explanaton 1-Jan Balance Ref Debit Ref Debit Account:Accum. Depr - Trucks Date Explanaton 1-Jan Balance Ref Debit Account:Notes Payable Date Explanaton 30-Nov Balance Ref Debit Account:Accounts Payable Date Explanaton 30-Nov Balance Ref Debit Account:FICA Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:Trucks Date Explanaton 1-Jan Balance Account:Income Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:Federal Withholding Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:State Withholding Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:FUTA Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:SUTA Taxes Payable Date Explanaton 30-Nov Balance Ref Debit Account:Wages and Salaries Payable Date Explanaton 30-Nov Ref Debit Account:Interest Payable Date Explanaton 30-Nov Balance Ref Debit Account:Dividends Payable Date Explanaton 30-Nov Balance Ref Debit Account:Notes Payable (Long term) Date Explanaton 30-Nov Balance Ref Debit Account: Bonds Payable Date Explanaton 1-Jan Balance Ref Debit Account: Discount on Bonds Payable Date Explanaton 30-Nov Balance Ref Debit Account: Common Stock - $30 Stated Value Date Explanaton 1-Jan Balance (6300 shares) Ref Debit Account: Paid-in Captal in Excess of Stated Value Date Explanaton 1-Jan Balance Ref Debit Account: Retained Earnings Date Explanaton 1-Jan Balance Ref Debit Account: Treasury Stock Date Explanaton 1-Jan Balance (700 shares) Ref Debit Explanaton Ref Debit Account: Income Summary Date Explanaton Ref Debit Account: Sales Revenue Date Explanaton 30-Nov Ref Debit Account: Sales Return and Allowance Date Explanaton 30-Nov Ref Debit Account: Sales Discount Date Explanaton 30-Nov Ref Debit Ref Debit Account: Dividends Date Account: Cost of Goods Sold Date Explanaton 30-Nov Account: Advertsing Expense Date Explanaton 30-Nov Ref Debit Account: Bad Debt Expense Date Explanaton 1-Jan Ref Debit Account: Supplies Expense Date Explanaton 30-Nov Ref Debit Account: Freight-out Date Explanaton 30-Nov Ref Debit Account: Misc Expense Date Explanaton Ref Debit Account: Depreciaton Expense Date Explanaton Ref Debit Account: Insurance Expense Date Explanaton Account: Salaries and Wages Expense Date Explanaton 30-Nov Account: Rent Expense Date Explanaton Account: Payroll Tax Expense Date Explanaton 30-Nov Account: Utlites Expense Date Explanaton Ref Debit Ref Debit Ref Debit Ref Debit Ref Debit 30-Nov Account: Interest Revenue Date Explanaton 30-Nov Ref Debit Ref Debit Account: Interest Expense Date Explanaton 30-Nov Ref Debit Account:Loss on Disposal of Plant Assets Date Explanaton 30-Nov Ref Debit Account:Income Tax Expense Date Explanaton 30-Nov Ref Debit Account: Gain on Disposal of Plant Assets Date Explanaton Credit 101 Balance 244,430 105 Credit Balance 150 Credit 112 Balance 317,400 113 Credit Balance 4,560 115 Credit Balance 45,000 Credit Balance 118 0 120 Credit Balance 531,960 126 Credit Credit Balance 2,320 130 Balance 11,020 131 Credit Balance 25,410 135 Credit Balance 139,769 140 Credit Balance 43,000 145 Credit Credit Balance 306,000 146 Balance 73,040 151 Credit Credit Balance 32,800 152 Balance 13,200 163 Credit Balance 78,400 164 Credit Balance 39,540 200 Credit Credit Balance 15,000 201 Balance 126,850 214 Credit Balance 1,787 215 Credit Balance 0 216 Credit Balance 9,573 218 Credit Balance 2,486 224 Credit Balance 400 Credit 225 Balance 2,600 226 Credit Balance 0 230 Credit Balance 0 250 Credit Balance 0 268 Credit Credit Balance 113,000 270 Balance 275,000 273 Credit Balance 17,131 311 Credit Credit Balance 189,000 317 Balance 256,400 320 Credit Balance 362,748 Credit 330 Balance 42,610 332 Credit Balance 0 350 Credit Balance 401 Credit Balance 5,234,940 412 Credit Credit Balance 9,380 414 Balance 73,044 505 Credit Balance 3,648,722 610 Credit Balance 6,578 612 Credit Balance 0 631 Credit Credit Balance 1,540 644 Balance 17,732 649 Credit Balance Credit Balance 711 722 Credit Balance 726 Credit Balance 933,122 729 Credit Balance 0 730 Credit Balance 82,916 Credit Balance 732 16,270 820 Credit Balance 3,150 Credit Balance 826 905 Credit Balance 24,570 Credit Balance 921 0 999 Credit Balance 72,000 cash receipts journal: cash disbursements journal: Income statement: Balace Sheet: Cash Dr Total Cash Cr Total Net Sales Total Assets $377,435 $371,557 $5,548,811 $1,481,759