I have a brand new company with zero beginning inventory using the periodic method I m trying to figure out my COGS and the appropriate entries to make with it I have a brand new company with zero beginning inventory using the periodic method I'm trying to figure out my COGS and the appropriate entries to make with it I have two text books showing two different methods of calculating but something is still missing This is what I have but I got lost trying to figure out where to put my Freight In FYI This is how I was trying to calculate it Computers are sold for $150 and software $50 if a specific price wasn't given 2 Jan Cash Common Stock Additional Paid in Capital CS 1 Jan Building Land Cash Mortgage Payable 5 Jan Office Supplies Office Depot Payable 12 Jan Demo Computer (office) Cash 12 Jan Furniture Accounts Payable Furniture Cash 15 Jan Prepaid Insurance Cash 16 Jan Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Jan Prepaid Advertising Simon Cash 18 Jan Purchases Accounts Payable Barbee Freight in Cash 18 Jan Purchases computers Accounts Payable Barnes 25 Jan Accounts Receivable Camika Sales Revenue Sales Tax Payable 25 Jan Accounts Payable Barbee Purchase discount Cash 25 Jan Accounts Payable Barnes Purchase discount Cash 26 Jan Cash Sales Tax Payable Sales Revenue 30 Jan Cash Unearned Revenue 31 Jan Depreciation Expense Accu Depr Demo Computers Depreciation Expense Accum Depr Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense 1,500,000 00 1,000,000 00 500,000 00 350,000 00 50,000 00 80,000 00 320,000 00 1,200 00 1,200 00 18,000 00 18,000 00 60,000 00 50,000 00 10,000 00 2,400 00 2,400 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 801 50 535 50 56 00 210 00 10,000 00 10,000 00 3,150 00 3,150 00 75 00 75 00 1,050 00 1,050 00 date 1 2 1 1 1 12 1 12 1 15 1 16 1 16 1 16 1 16 1 17 1 18 1 25 1 25 1 26 1 30 1 31 1 31 1 31 1 31 2 1 2 1 2 1 2 1 2 1 2 2 2 2 2 5 2 8 2 15 2 15 2 15 2 16 2 16 2 16 2 16 2 18 2 18 2 28 2 28 2 28 2 28 2 28 3 1 3 1 3 1 3 1 cash dr 1,500,000 00 3,150 00 63 00 3,087 00 1,050 00 21 00 1,029 00 262 50 12 50 250 00 150 00 150 00 1,000 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 3 2 3 3 3 3 3 5 3 6 3 10 3 10 3 15 3 15 3 16 3 16 3 16 3 16 3 17 3 21 3 21 3 25 3 31 3 31 date 3 31 80,000 00 18,000 00 10,000 00 2,400 00 1,025 25 1,025 25 1,025 25 1,708 75 10,000 00 75 00 3,087 00 1,029 00 262 50 150 00 2,471 00 56 00 280 00 210 00 1,025 25 1,025 25 1,025 25 1,708 75 2,225 00 3,280 54 283 5 400 75 9,800 00 2,250 00 3,528 00 1,025 25 1,025 25 1,025 25 1,708 75 300 40 4,942 00 108 560 420 Balance date 1 17 1 31 2 28 3 31 1,025 25 1,025 25 1,025 25 1,708 75 7,350 00 2,225 00 3,280 53 Prepaid Advertising dr 10,000 00 date 1 12 demo computers dr 18,000 00 sub total Balance 18,000 00 18,000 00 sub total Balance date sub total Balance 32,036 95 33,486 95 1,450 00 date 1 1 cr cr Land dr 50,000 00 32,036 95 cr 5,000 01 Accum Depr Building dr cr 17,500 00 17,500 00 17,500 00 52,500 00 52,500 00 Accounts Payable dr 45,566 66 cr 91,865 00 45,566 66 91,865 00 46,298 34 sub total Balance sub total Balance sub total Balance 50,000 00 50,000 00 date 1 12 cr date 1 15 1 31 2 28 3 31 date 1 2 1,666 67 1,666 67 1,666 67 10,000 00 4,999 99 date 1 31 2 28 3 31 date 3 31 3 31 Inventory dr 33,486 95 sub total Balance 18,488 50 sub total Balance 1,000 00 315 00 300 00 15 00 cr Accounts Receivable dr cr 43,802 81 25,314 31 furniture dr 60,000 00 sub total Balance 60,000 00 60,000 00 date 1 1 2 2 3 2 sub total Balance mortgage payable dr cr 200 00 200 00 200 00 2,400 00 1,800 00 office supplies dr 1,200 00 600 00 cr 1,200 00 1,200 00 date 1 1 cr Accum Depr demo computers date dr cr 1 31 1,000 00 2 28 1,000 00 3 31 1,000 00 sub total Balance Prepaid Insurance dr 2,400 00 3,000 00 3,000 00 cr 320,000 00 Building dr 350,000 00 sub total Balance 350,000 00 350,000 00 cr Accum Depreciation Furniture date dr cr 1 31 1,666 67 2 28 1,666 67 3 31 1,666 67 sub total Balance 5,000 01 5,000 01 Payroll Accounts Payable date dr cr 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 sub total Balance 1,000 00 625 400 175 450 2,623 95 7,644 00 2,250 00 1,025 25 1,025 25 1,025 25 1,708 75 180 00 19,800 00 799 31 2,000 00 75 4,942 00 60 560 420 200 00 535 50 535 50 1,400 00 date 1 2 sub total Balance date 1 30 3 10 3 17 3 31 sub total Balance Common Stock dr cr 1,000,000 00 date 1 2 1,000,000 00 1,000,000 00 sub total Balance Unearned revenue dr cr 150 00 450 00 180 00 Additional Paid In CS dr cr 500,000 00 500,000 00 500,000 00 date sub total Balance Retained Earnings dr cr Unearned travel revenue date dr cr 3 25 2,000 00 450 00 450 00 780 00 330 00 sub total Balance cr 300 00 date 2 12 2,000 00 2,000 00 2,471 00 56 00 56 00 280 00 280 00 sub ttal Balance 1,526,300 31 1,314,585 79 211,714 52 210 00 210 00 1,666 67 date 1 18 Sales revenue dr Sales returns dr 200 00 cr date 2 2 Sales discount dr 31 50 cr Prepaid Advertising 1 Feb Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Feb Receivable from Barbee Purchase returns return of 15 purchases 1 18 1 Feb Utilities Expense Electric Utilities Expense Telephone Utilities Expense Security Utilities Expense Janitorial Utilities Expense Trash Utilities Expense Water Cash 2 Feb Interest Expense Mortgage Payable Insurance Expense Taxes Expense Cash 2 Feb Cash Sales Discount Accounts Receivable Camika 3 Feb Accounts Receivable Kellie Sales Revenue 5 Feb Accounts Receivable Belinda Sales Revenue Sales Tax Payable 5 Feb Office Depot Payable Cash 7 Feb Accounts Receivable Angie Sales Revenue 8 Feb Purchases computers Accounts Payable Bees Freight in Cash 9 Feb Purchases computers Accounts Payable Cees 10 Feb Accounts Receivable Kellie Sales Revenue 12 Feb Sales returns Accounts Receivable Kellie 15 Feb Accounts Payable Bees Purchase discount Cash 15 Feb Accounts Payable Furniture Interest Expense Cash 15 Feb Accounts Payable Cees Purchase discount Cash 16 Feb Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable 1,666 67 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1 26 2 3 2 5 2 7 2 10 2 18 3 12 3 15 3 31 3 31 sub total Balance 2,500 00 191 25 500 00 100 00 1,708 75 date 3 6 3 8 250 00 1,000 00 750 00 900 00 1,200 00 300 00 22,000 00 16,000 00 450 00 225 00 43,375 00 interest Revenue dr sub total Balance sub total Balance 200 00 200 00 2,200 00 sub total Balance 2,231 50 2,231 50 3,200 00 3,200 00 cr 11 81 13 50 801 50 535 50 56 00 210 00 3 21 25 31 25 31 date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 Purchases dr 3,150 00 1,050 00 10,000 00 3,600 00 7,500 00 3,150 00 12,000 00 1,575 00 cr 40,450 00 date 1 25 1 25 2 15 2 15 3 1 3 10 3 15 3 31 Purchase discount dr cr 63 00 21 00 200 00 72 00 150 00 53 55 156 00 715 55 1,575 00 sub total Balance 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,333 33 1,197 21 250 00 500 00 3,280 54 date 1 18 2 8 3 3 3 6 sub total Balance Freight In dr 75 00 75 00 625 00 175 00 date 2 1 3 6 3 14 3 31 Purchase Returns dr 40,450 00 sub total Balance 715 55 cr 1,575 00 472 50 4,200 00 283 50 31 50 sub total Balance 32,036 95 32,036 95 insurance expense dr 250 00 200 00 250 00 200 00 200 00 715 55 cr 6,247 50 sub total Balance date 3 31 COGS dr 32,036 95 date 2 2 2 28 3 2 3 31 1 31 cr 950 00 950 00 40,450 00 6,247 50 6,247 50 315 00 1,000 00 1,000 00 787 50 date 1 31 750 00 37 50 400 00 2 28 400 00 900 00 900 00 3 31 10,000 00 10,000 00 Depreciation Expense dr 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 cr cr 75 00 75 00 3,600 00 3,600 00 sub total Balance 60,500 01 60,500 01 sub total Balance 1,100 00 1,100 00 1,200 00 1,200 00 200 00 200 00 10,000 00 200 00 9,800 00 date 3 29 subcontractor expense dr cr 150 00 sub total Balance 150 00 150 00 2,083 33 166 67 2,250 00 3,600 00 72 00 3,528 00 date 2 2 2 28 3 2 3 31 1 31 insurance expense dr 250 00 200 00 250 00 200 00 200 00 cr date 2 2 3 2 1,500 00 114 75 300 00 60 00 1,025 25 sub total Balance 1,100 00 1,100 00 date Payroll Tax Expense dr sub total Balance taxes Expense dr 500 00 500 00 cr 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 date Interest expense dr cr cr date Misc Expense dr cr Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash 16 Feb Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 18 Feb Cash Sales Revenue miscellaneous expense Cash 23 Feb Purchases computers Accounts Payable Barnes 28 Feb Depreciation Expense Accu Depr Demo Computers Depreciation Expense Accu Depr Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 28 Feb Cash Accounts Receivable Kellie 1 Mar Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Mar Accounts Payable Barnes Purchase discount Cash 1 Mar Utilities Expense Electric Utilities Expense Telephone Utilities Expense Security Utilities Expense Janitorial Utilities Expense Trash Sewage Utilities Expense Water Cash 2 Mar Interest Expense Mortgage Payable Insurance Expense 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2 2 2 15 3 2 3 15 1,333 33 166 67 1,328 34 166 67 1 16 12 1 2 16 3 1 3 16 801 50 801 50 797 50 781 50 769 50 2 18 40 00 sub total Balance 40 00 40 00 2,500 00 191 25 500 00 100 00 1,708 75 sub total Balance 797 50 535 50 52 00 210 00 300 00 300 00 40 00 date 1 16 2 1 2 16 3 1 3 16 2,995 01 2,995 01 Salary Expense D'Vyne dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 sub total Balance date 1 16 2 1 2 16 3 1 3 16 3,951 50 3,951 50 Salary Expense Precious dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense Blue dr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 cr 40 00 7,500 00 7,500 00 1,000 00 sub total Balance 7,500 00 7,500 00 sub total Balance 7,500 00 7,500 00 date 2 1 3 1 Utilities Expense dr 2,225 00 2,225 00 sub total Balance 4,450 00 4,450 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense Self dr 2,500 00 2,500 00 2,500 00 2,500 00 2,500 00 sub total Balance 12,500 00 12,500 00 cr cr 4,942 00 108 00 108 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 781 50 535 50 36 00 210 00 7,500 00 150 00 7,350 00 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,328 34 1,202 19 250 00 sub total Balance 7,500 00 7,500 00 Taxes Expense Cash 3 Mar Purchases computers Accounts Payable Bees Freight in Cash 5 Mar Office Depot Payable Cash 6 Mar Accounts Payable Bees Purchase Return Freight in Cash 6 Mar interest fee receivable Belinda Interest Revenue 8 Mar Purchases software Accounts Payable Barbee 8 Mar interest fee receivable Angie Interest Revenue 10 Mar Cash Unearned revenue 10 Mar Accounts Payable Bees Purchase discount Cash 12 Mar Accounts Receivable Kellie Sales Revenue 14 Mar Accounts Payable Barbee Purchase Return 15 Mar Accounts Receivable Angie Sales Revenue 15 Mar Accounts Payable Barbee Purchase discount Cash 15 Mar Accounts Payable Furniture Interest Expense Cash 16 Mar Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash 16 Mar Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Mar Cash Unearned Revenue 21 Mar Cash Sales Discount Accounts Receivable Kellie 21 Mar Cash Accounts Receivable Belinda interest fee receivable Belinda 25 Mar Cash Unearned travel revenue 29 Mar subcontractor expense subcontrator payable 31 Mar Unearned revenue Sales Revenue 31 Mar Cash subcontrator payable Sales Revenue 31 Mar Depreciation Expense Accum Depr Demo Computers Depreciation Expense Accu Depre Building 500 00 3,280 53 3,150 00 3,150 00 625 00 625 00 400 00 400 00 472 50 472 50 175 00 175 00 11 81 11 81 12,000 00 12,000 00 13 50 13 50 450 00 450 00 2,677 50 53 55 2,623 95 22,000 00 22,000 00 4,200 00 4,200 00 16,000 00 16,000 00 7,800 00 156 00 7,644 00 2,083 33 166 67 2,250 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 769 50 535 50 24 00 210 00 180 00 180 00 19,800 00 2,200 00 22,000 00 799 31 787 50 11 81 2,000 00 2,000 00 150 00 150 00 450 00 450 00 75 00 150 00 225 00 1,000 00 1,000 00 17,500 00 17,500 00 Depreciation Expense Accu DeprFurniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 31 Mar Purchases purchase returns purchase discounts purchases 31 Mar costs of goods sold inventory 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 4,942 00 60 00 60 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 33,486 95 6,247 50 715 55 40,450 00 32,036 95 2,354,653 16 7 Apr Unearned revenue Sales Revenue Cash Sales Revenue 21 Apr cash Accounts Receivable Angie Late fees collected 32,036 95 2,354,653 16 180 00 180 00 420 00 420 00 927 00 900 00 27 00 Trial Balance Account Title cash Accounts Receivable Inventory Prepaid Insurance Prepaid Advertising Land Building demo computers furniture office supplies Accum Depr demo computers Accum Depreciation Furniture Accum Depr Building accounts payable mortgage payable payroll accounts payable Unearned travel revenue Unearned revenue common stock Additional Paid in Capital CS Retained Earnings Sales revenue Sales Discount Sales returns interest Revenue Purchases Purchase discount Purchase Returns Freight In 4950 COGS Advertising Expense Depreciation Expense Interest Expense miscellaneous expense insurance expense taxes Expense Payroll Tax Expense subcontractor expense Utilities Expense Salary Expense Precious Salary Expense D'Vyne Salary Expense Blue Salary Expense Self dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 Adjustments cr dr cr Income Statement dr cr Retained Earnings dr cr Balance Shhet dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 cr 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 2,000 00 330 00 1,000,000 00 500,000 00 2,000 00 330 00 1,000,000 00 500,000 00 43,375 00 2,231 50 200 00 43,375 00 2,231 50 200 00 25 31 0 25 31 0 0 0 32,036 95 5,000 01 60,500 01 2,995 01 40 00 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 32,036 95 5,000 01 60,500 01 2,995 01 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 283 50 Common Stock Sales revenue interest Revenue Purchases Freight In Depreciation Expense 472 50 subcontractor expense Salary Expense D'Vyne 472 50 472 50 472 50 Salary Expense Self Accounts Receivable Belinda date dr cr 2 5 787 50 3 21 787 50 sub total Balance 787 50 787 50 Accounts Receivable Angie date dr cr 2 7 900 00 3 15 16,000 00 sub total Balance 16,900 00 16,900 00 13 50 13 50 sub total Balance 315 00 315 00 Receivable from Barbee date dr cr 2 1 1,575 00 Interest Receivable Angie date dr cr 3 8 13 50 sub total Balance Accounts Receivable Camika date dr cr 1 25 315 00 2 2 315 00 sub total Balance 1,575 00 1,575 00 sub total Balance 11 81 sub total Balance 24,200 00 24,200 00 Accounts Receivable date dr cr 1 25 315 00 2 1 1,575 00 2 2 315 00 2 3 1,000 00 2 5 787 50 2 7 900 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 6 11 81 3 8 13 50 3 21 11 81 3 12 22,000 00 3 15 16,000 00 3 21 22,000 00 3 21 787 50 Interest Receivable Belinda date dr cr 3 6 11 81 3 21 11 81 Accounts Receivable Kellie date dr cr 2 3 1,000 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 12 22,000 00 3 21 22,000 00 11 81 sub total Balance 43,802 81 18,488 50 25,314 31 Accounts Payable Barbee date dr cr 1 18 3,150 00 1 25 3,150 00 3 8 12,000 00 3 14 4,200 00 3 15 7,800 00 sub total Balance 15,150 00 15,150 00 Accounts Payable Cees date dr cr 2 9 3,600 00 2 15 3,600 00 sub total Balance date 1 1 2 2 3 2 sub total Balance date 1 18 1 26 2 5 sub total Balance 3,600 00 3,600 00 mortgage payable dr cr 320,000 00 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 Sales Tax Payable dr cr 15 00 12 50 37 50 65 00 REF Accounts Payable Barnes date dr cr 1 18 1,050 00 1 25 1,050 00 2 23 7,500 00 3 1 7,500 00 sub total Balance 8,550 00 8,550 00 subcontrator payable date dr cr 3 29 150 00 3 31 150 00 sub total Balance 150 00 150 00 Accounts Payable Furniture date dr cr 1 12 50,000 00 2 15 2,083 33 3 15 2,083 33 sub total Balance 4,166 66 50,000 00 45,833 34 Accounts Payable Bees date dr cr 2 8 10,000 00 2 15 10,000 00 3 3 3,150 00 3 6 472 50 2,677 50 sub total Balance date 1 2 2 5 3 5 13,150 00 13,150 00 office depot payable dr cr 1,200 00 400 00 400 00 sub total Balance 800 00 1,200 00 400 00 Accounts Payable dr date 1 18 1 25 3 8 3 14 3 15 1 18 1 25 2 23 3 1 2 8 2 15 3 3 3 6 2 9 2 15 3 29 3 31 1 2 2 5 3 5 1 12 2 15 3 15 1 18 1 26 2 5 sub total Balance cr 3,150 00 3,150 00 12,000 00 4,200 00 7,800 00 1,050 00 1,050 00 7,500 00 7,500 00 10,000 00 10,000 00 3,150 00 472 50 2,677 50 3,600 00 3,600 00 150 00 150 00 1,200 00 400 00 400 00 50,000 00 2,083 33 2,083 33 45,566 66 15 00 12 50 37 50 91,865 00 46,298 34 person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 16 Jan salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Feb salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Feb salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 31 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self YTD GROSS $ 1,500 00 $ 1,500 00 $ 1,500 00 $ 2,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 3,000 00 $ 3,000 00 $ 3,000 00 $ 5,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 4,500 00 $ 4,500 00 $ 4,500 00 $ 7,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ YTD GROSS $ 6,000 00 $ 6,000 00 $ 6,000 00 $ 10,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 75 00 $ YTD GROSS $ 7,500 00 $ 7,500 00 $ 7,500 00 $ 12,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $ YTD GROSS $ 9,000 00 $ 9,000 00 $ 9,000 00 $ 15,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $ Payroll Accounts Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 1 16 300 00 1 16 300 00 1 16 300 00 1 16 500 00 1 31 1,400 00 2 1 300 00 2 1 300 00 2 1 300 00 2 1 500 00 2 16 300 00 2 16 300 00 2 16 300 00 2 16 500 00 2 28 2,800 00 3 1 300 00 3 1 300 00 3 1 300 00 3 1 500 00 3 16 300 00 3 16 300 00 3 16 300 00 3 16 500 00 3 31 2,800 00 1 16 60 00 1 16 60 00 1 16 60 00 1 16 100 00 1 31 280 00 2 1 60 00 2 1 60 00 2 1 60 00 2 1 100 00 2 16 60 00 2 16 60 00 2 16 60 00 2 16 100 00 2 28 560 00 3 1 60 00 3 1 60 00 3 1 60 00 3 1 100 00 3 16 60 00 3 16 60 00 3 16 60 00 3 16 100 00 3 31 560 00 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 1 16 56 00 FICA EE Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance FICA ER Payable date dr cr 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance FITW Payable dr cr 300 00 300 00 300 00 500 00 1,400 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 7,000 00 FUTA Payable dr 7,000 00 cr 56 00 56 00 56 00 52 00 108 00 36 00 24 00 60 00 224 00 224 00 date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance SIT Payable dr cr 60 00 60 00 60 00 100 00 280 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 1,400 00 SUI Payable dr 1,400 00 cr 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 1,050 00 1,050 00 1 31 2 1 2 16 2 28 3 1 3 16 3 31 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 56 00 56 00 52 00 108 00 36 00 24 00 60 00 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 15,029 00 15,029 00 My original journal entries 31 Mar Purchases 33,486 95 purchase returns 6,247 50 purchase discounts 715 55 purchases 40,450 00 31 Mar costs of goods sold 32,036 95 inventory 32,036 95 I was going to correct my original entries and got confused again My accounts are out of balance If I credit Purchases for $33,486 95 it won't come to a zero balance Am I missing something Cost of goods sold Purchases 33486 95 Less Purchase return 6247 5 Less Purchase discount 715 55 Freight In 950 Cost of goods sold date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 6963 05 Purchases dr 3,150 0 0 1,050 0 0 10,000 00 3,600 0 0 7,500 0 0 3,150 0 0 12,000 00 27473 9 cr date Purchase discount dr 63 0 1 25 0 21 0 1 25 0 2 15 0 2 15 0 3 1 0 3 10 5 200 0 72 0 150 0 53 5 156 0 3 15 0 40,450 0 0 sub total 40,450 00 cr 715 3 31 55 40,450 0 0 sub total 55 715 715 5 5 Balance date Purchase Returns dr 2 1 3 6 3 14 3 31 6,247 5 0 cr 1,575 0 0 472 5 0 4,200 0 0 date 3 31 COGS dr 32,036 9 5 cr 6,247 5 0 sub total Balance Balance date 3 31 Inventory dr 33,486 9 5 Balance 33,486 9 5 1,450 0 0 sub total Balance cr 32,036 9 5 3 31 sub total 6,247 5 0 32,036 9 5 32,036 9 5 32,036 9 5 2 Jan Cash Common Stock Additional Paid in Capital CS 1 Jan Building Land Cash Mortgage Payable 5 Jan Office Supplies Office Depot Payable 12 Jan Demo Computer (office) Cash 12 Jan Furniture Accounts Payable Furniture Cash 15 Jan Prepaid Insurance Cash 16 Jan Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Jan Prepaid Advertising Simon Cash 18 Jan Purchases Accounts Payable Barbee Freight in Cash 18 Jan Purchases computers Accounts Payable Barnes 25 Jan Accounts Receivable Camika Sales Revenue Sales Tax Payable 25 Jan Accounts Payable Barbee Purchase discount Cash 25 Jan Accounts Payable Barnes Purchase discount Cash 26 Jan Cash Sales Tax Payable Sales Revenue 30 Jan Cash Unearned Revenue 31 Jan Depreciation Expense Accu Depr Demo Computers Depreciation Expense Accum Depr Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense 1,500,000 00 1,000,000 00 500,000 00 350,000 00 50,000 00 80,000 00 320,000 00 1,200 00 1,200 00 18,000 00 18,000 00 60,000 00 50,000 00 10,000 00 2,400 00 2,400 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 801 50 535 50 56 00 210 00 10,000 00 10,000 00 3,150 00 3,150 00 75 00 75 00 1,050 00 1,050 00 date 1 2 1 1 1 12 1 12 1 15 1 16 1 16 1 16 1 16 1 17 1 18 1 25 1 25 1 26 1 30 1 31 1 31 1 31 1 31 2 1 2 1 2 1 2 1 2 1 2 2 2 2 2 5 2 8 2 15 2 15 2 15 2 16 2 16 2 16 2 16 2 18 2 18 2 28 2 28 2 28 2 28 2 28 3 1 3 1 3 1 3 1 cash dr 1,500,000 00 3,150 00 63 00 3,087 00 1,050 00 21 00 1,029 00 262 50 12 50 250 00 150 00 150 00 1,000 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 3 2 3 3 3 3 3 5 3 6 3 10 3 10 3 15 3 15 3 16 3 16 3 16 3 16 3 17 3 21 3 21 3 25 3 31 3 31 date 3 31 80,000 00 18,000 00 10,000 00 2,400 00 1,025 25 1,025 25 1,025 25 1,708 75 10,000 00 75 00 3,087 00 1,029 00 262 50 150 00 2,471 00 56 00 280 00 210 00 1,025 25 1,025 25 1,025 25 1,708 75 2,225 00 3,280 54 283 5 400 75 9,800 00 2,250 00 3,528 00 1,025 25 1,025 25 1,025 25 1,708 75 300 40 4,942 00 108 560 420 Balance date 1 17 1 31 2 28 3 31 1,025 25 1,025 25 1,025 25 1,708 75 7,350 00 2,225 00 3,280 53 Prepaid Advertising dr 10,000 00 date 1 12 demo computers dr 18,000 00 sub total Balance 18,000 00 18,000 00 sub total Balance date sub total Balance 32,036 95 33,486 95 1,450 00 date 1 1 cr cr Land dr 50,000 00 32,036 95 cr 5,000 01 Accum Depr Building dr cr 17,500 00 17,500 00 17,500 00 52,500 00 52,500 00 Accounts Payable dr 45,566 66 cr 91,865 00 45,566 66 91,865 00 46,298 34 sub total Balance sub total Balance sub total Balance 50,000 00 50,000 00 date 1 12 cr date 1 15 1 31 2 28 3 31 date 1 2 1,666 67 1,666 67 1,666 67 10,000 00 4,999 99 date 1 31 2 28 3 31 date 3 31 3 31 Inventory dr 33,486 95 sub total Balance 18,488 50 sub total Balance 1,000 00 315 00 300 00 15 00 cr Accounts Receivable dr cr 43,802 81 25,314 31 furniture dr 60,000 00 sub total Balance 60,000 00 60,000 00 date 1 1 2 2 3 2 sub total Balance mortgage payable dr cr 200 00 200 00 200 00 2,400 00 1,800 00 office supplies dr 1,200 00 600 00 cr 1,200 00 1,200 00 date 1 1 cr Accum Depr demo computers date dr cr 1 31 1,000 00 2 28 1,000 00 3 31 1,000 00 sub total Balance Prepaid Insurance dr 2,400 00 3,000 00 3,000 00 cr 320,000 00 Building dr 350,000 00 sub total Balance 350,000 00 350,000 00 cr Accum Depreciation Furniture date dr cr 1 31 1,666 67 2 28 1,666 67 3 31 1,666 67 sub total Balance 5,000 01 5,000 01 Payroll Accounts Payable date dr cr 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 sub total Balance 1,000 00 625 400 175 450 2,623 95 7,644 00 2,250 00 1,025 25 1,025 25 1,025 25 1,708 75 180 00 19,800 00 799 31 2,000 00 75 4,942 00 60 560 420 200 00 535 50 535 50 1,400 00 date 1 2 sub total Balance date 1 30 3 10 3 17 3 31 sub total Balance Common Stock dr cr 1,000,000 00 date 1 2 1,000,000 00 1,000,000 00 sub total Balance Unearned revenue dr cr 150 00 450 00 180 00 Additional Paid In CS dr cr 500,000 00 500,000 00 500,000 00 date sub total Balance Retained Earnings dr cr Unearned travel revenue date dr cr 3 25 2,000 00 450 00 450 00 780 00 330 00 sub total Balance cr 300 00 date 2 12 2,000 00 2,000 00 2,471 00 56 00 56 00 280 00 280 00 sub ttal Balance 1,526,300 31 1,314,585 79 211,714 52 210 00 210 00 1,666 67 date 1 18 Sales revenue dr Sales returns dr 200 00 cr date 2 2 Sales discount dr 31 50 cr Prepaid Advertising 1 Feb Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Feb Receivable from Barbee Purchase returns return of 15 purchases 1 18 1 Feb Utilities Expense Electric Utilities Expense Telephone Utilities Expense Security Utilities Expense Janitorial Utilities Expense Trash Utilities Expense Water Cash 2 Feb Interest Expense Mortgage Payable Insurance Expense Taxes Expense Cash 2 Feb Cash Sales Discount Accounts Receivable Camika 3 Feb Accounts Receivable Kellie Sales Revenue 5 Feb Accounts Receivable Belinda Sales Revenue Sales Tax Payable 5 Feb Office Depot Payable Cash 7 Feb Accounts Receivable Angie Sales Revenue 8 Feb Purchases computers Accounts Payable Bees Freight in Cash 9 Feb Purchases computers Accounts Payable Cees 10 Feb Accounts Receivable Kellie Sales Revenue 12 Feb Sales returns Accounts Receivable Kellie 15 Feb Accounts Payable Bees Purchase discount Cash 15 Feb Accounts Payable Furniture Interest Expense Cash 15 Feb Accounts Payable Cees Purchase discount Cash 16 Feb Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable 1,666 67 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1 26 2 3 2 5 2 7 2 10 2 18 3 12 3 15 3 31 3 31 sub total Balance 2,500 00 191 25 500 00 100 00 1,708 75 date 3 6 3 8 250 00 1,000 00 750 00 900 00 1,200 00 300 00 22,000 00 16,000 00 450 00 225 00 43,375 00 interest Revenue dr sub total Balance sub total Balance 200 00 200 00 2,200 00 sub total Balance 2,231 50 2,231 50 3,200 00 3,200 00 cr 11 81 13 50 801 50 535 50 56 00 210 00 3 21 25 31 25 31 date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 Purchases dr 3,150 00 1,050 00 10,000 00 3,600 00 7,500 00 3,150 00 12,000 00 1,575 00 cr 40,450 00 date 1 25 1 25 2 15 2 15 3 1 3 10 3 15 3 31 Purchase discount dr cr 63 00 21 00 200 00 72 00 150 00 53 55 156 00 715 55 1,575 00 sub total Balance 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,333 33 1,197 21 250 00 500 00 3,280 54 date 1 18 2 8 3 3 3 6 sub total Balance Freight In dr 75 00 75 00 625 00 175 00 date 2 1 3 6 3 14 3 31 Purchase Returns dr 40,450 00 sub total Balance 715 55 cr 1,575 00 472 50 4,200 00 283 50 31 50 sub total Balance 32,036 95 32,036 95 insurance expense dr 250 00 200 00 250 00 200 00 200 00 715 55 cr 6,247 50 sub total Balance date 3 31 COGS dr 32,036 95 date 2 2 2 28 3 2 3 31 1 31 cr 950 00 950 00 40,450 00 6,247 50 6,247 50 315 00 1,000 00 1,000 00 787 50 date 1 31 750 00 37 50 400 00 2 28 400 00 900 00 900 00 3 31 10,000 00 10,000 00 Depreciation Expense dr 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 cr cr 75 00 75 00 3,600 00 3,600 00 sub total Balance 60,500 01 60,500 01 sub total Balance 1,100 00 1,100 00 1,200 00 1,200 00 200 00 200 00 10,000 00 200 00 9,800 00 date 3 29 subcontractor expense dr cr 150 00 sub total Balance 150 00 150 00 2,083 33 166 67 2,250 00 3,600 00 72 00 3,528 00 date 2 2 2 28 3 2 3 31 1 31 insurance expense dr 250 00 200 00 250 00 200 00 200 00 cr date 2 2 3 2 1,500 00 114 75 300 00 60 00 1,025 25 sub total Balance 1,100 00 1,100 00 date Payroll Tax Expense dr sub total Balance taxes Expense dr 500 00 500 00 cr 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 date Interest expense dr cr cr date Misc Expense dr cr Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash 16 Feb Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 18 Feb Cash Sales Revenue miscellaneous expense Cash 23 Feb Purchases computers Accounts Payable Barnes 28 Feb Depreciation Expense Accu Depr Demo Computers Depreciation Expense Accu Depr Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 28 Feb Cash Accounts Receivable Kellie 1 Mar Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Mar Accounts Payable Barnes Purchase discount Cash 1 Mar Utilities Expense Electric Utilities Expense Telephone Utilities Expense Security Utilities Expense Janitorial Utilities Expense Trash Sewage Utilities Expense Water Cash 2 Mar Interest Expense Mortgage Payable Insurance Expense 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2 2 2 15 3 2 3 15 1,333 33 166 67 1,328 34 166 67 1 16 12 1 2 16 3 1 3 16 801 50 801 50 797 50 781 50 769 50 2 18 40 00 sub total Balance 40 00 40 00 2,500 00 191 25 500 00 100 00 1,708 75 sub total Balance 797 50 535 50 52 00 210 00 300 00 300 00 40 00 date 1 16 2 1 2 16 3 1 3 16 2,995 01 2,995 01 Salary Expense D'Vyne dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 sub total Balance date 1 16 2 1 2 16 3 1 3 16 3,951 50 3,951 50 Salary Expense Precious dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense Blue dr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 cr 40 00 7,500 00 7,500 00 1,000 00 sub total Balance 7,500 00 7,500 00 sub total Balance 7,500 00 7,500 00 date 2 1 3 1 Utilities Expense dr 2,225 00 2,225 00 sub total Balance 4,450 00 4,450 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense Self dr 2,500 00 2,500 00 2,500 00 2,500 00 2,500 00 sub total Balance 12,500 00 12,500 00 cr cr 4,942 00 108 00 108 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 781 50 535 50 36 00 210 00 7,500 00 150 00 7,350 00 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,328 34 1,202 19 250 00 sub total Balance 7,500 00 7,500 00 Taxes Expense Cash 3 Mar Purchases computers Accounts Payable Bees Freight in Cash 5 Mar Office Depot Payable Cash 6 Mar Accounts Payable Bees Purchase Return Freight in Cash 6 Mar interest fee receivable Belinda Interest Revenue 8 Mar Purchases software Accounts Payable Barbee 8 Mar interest fee receivable Angie Interest Revenue 10 Mar Cash Unearned revenue 10 Mar Accounts Payable Bees Purchase discount Cash 12 Mar Accounts Receivable Kellie Sales Revenue 14 Mar Accounts Payable Barbee Purchase Return 15 Mar Accounts Receivable Angie Sales Revenue 15 Mar Accounts Payable Barbee Purchase discount Cash 15 Mar Accounts Payable Furniture Interest Expense Cash 16 Mar Salary Expense D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense Self FICA EE Payable FITW Payable SIT Payable Cash 16 Mar Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Mar Cash Unearned Revenue 21 Mar Cash Sales Discount Accounts Receivable Kellie 21 Mar Cash Accounts Receivable Belinda interest fee receivable Belinda 25 Mar Cash Unearned travel revenue 29 Mar subcontractor expense subcontrator payable 31 Mar Unearned revenue Sales Revenue 31 Mar Cash subcontrator payable Sales Revenue 31 Mar Depreciation Expense Accum Depr Demo Computers Depreciation Expense Accu Depre Building 500 00 3,280 53 3,150 00 3,150 00 625 00 625 00 400 00 400 00 472 50 472 50 175 00 175 00 11 81 11 81 12,000 00 12,000 00 13 50 13 50 450 00 450 00 2,677 50 53 55 2,623 95 22,000 00 22,000 00 4,200 00 4,200 00 16,000 00 16,000 00 7,800 00 156 00 7,644 00 2,083 33 166 67 2,250 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 769 50 535 50 24 00 210 00 180 00 180 00 19,800 00 2,200 00 22,000 00 799 31 787 50 11 81 2,000 00 2,000 00 150 00 150 00 450 00 450 00 75 00 150 00 225 00 1,000 00 1,000 00 17,500 00 17,500 00 Depreciation Expense Accu DeprFurniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 31 Mar Purchases purchase returns purchase discounts purchases 31 Mar costs of goods sold inventory 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 4,942 00 60 00 60 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 33,486 95 6,247 50 715 55 40,450 00 32,036 95 2,354,653 16 7 Apr Unearned revenue Sales Revenue Cash Sales Revenue 21 Apr cash Accounts Receivable Angie Late fees collected 32,036 95 2,354,653 16 180 00 180 00 420 00 420 00 927 00 900 00 27 00 Trial Balance Account Title cash Accounts Receivable Inventory Prepaid Insurance Prepaid Advertising Land Building demo computers furniture office supplies Accum Depr demo computers Accum Depreciation Furniture Accum Depr Building accounts payable mortgage payable payroll accounts payable Unearned travel revenue Unearned revenue common stock Additional Paid in Capital CS Retained Earnings Sales revenue Sales Discount Sales returns interest Revenue Purchases Purchase discount Purchase Returns Freight In 4950 COGS Advertising Expense Depreciation Expense Interest Expense miscellaneous expense insurance expense taxes Expense Payroll Tax Expense subcontractor expense Utilities Expense Salary Expense Precious Salary Expense D'Vyne Salary Expense Blue Salary Expense Self dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 Adjustments cr dr cr Income Statement dr cr Retained Earnings dr cr Balance Shhet dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 cr 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 2,000 00 330 00 1,000,000 00 500,000 00 2,000 00 330 00 1,000,000 00 500,000 00 43,375 00 2,231 50 200 00 43,375 00 2,231 50 200 00 25 31 0 25 31 0 0 0 32,036 95 5,000 01 60,500 01 2,995 01 40 00 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 32,036 95 5,000 01 60,500 01 2,995 01 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 283 50 Common Stock Sales revenue interest Revenue Purchases Freight In Depreciation Expense 472 50 subcontractor expense Salary Expense D'Vyne 472 50 472 50 472 50 Salary Expense Self Accounts Receivable Belinda date dr cr 2 5 787 50 3 21 787 50 sub total Balance 787 50 787 50 Accounts Receivable Angie date dr cr 2 7 900 00 3 15 16,000 00 sub total Balance 16,900 00 16,900 00 13 50 13 50 sub total Balance 315 00 315 00 Receivable from Barbee date dr cr 2 1 1,575 00 Interest Receivable Angie date dr cr 3 8 13 50 sub total Balance Accounts Receivable Camika date dr cr 1 25 315 00 2 2 315 00 sub total Balance 1,575 00 1,575 00 sub total Balance 11 81 sub total Balance 24,200 00 24,200 00 Accounts Receivable date dr cr 1 25 315 00 2 1 1,575 00 2 2 315 00 2 3 1,000 00 2 5 787 50 2 7 900 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 6 11 81 3 8 13 50 3 21 11 81 3 12 22,000 00 3 15 16,000 00 3 21 22,000 00 3 21 787 50 Interest Receivable Belinda date dr cr 3 6 11 81 3 21 11 81 Accounts Receivable Kellie date dr cr 2 3 1,000 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 12 22,000 00 3 21 22,000 00 11 81 sub total Balance 43,802 81 18,488 50 25,314 31 Accounts Payable Barbee date dr cr 1 18 3,150 00 1 25 3,150 00 3 8 12,000 00 3 14 4,200 00 3 15 7,800 00 sub total Balance 15,150 00 15,150 00 Accounts Payable Cees date dr cr 2 9 3,600 00 2 15 3,600 00 sub total Balance date 1 1 2 2 3 2 sub total Balance date 1 18 1 26 2 5 sub total Balance 3,600 00 3,600 00 mortgage payable dr cr 320,000 00 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 Sales Tax Payable dr cr 15 00 12 50 37 50 65 00 REF Accounts Payable Barnes date dr cr 1 18 1,050 00 1 25 1,050 00 2 23 7,500 00 3 1 7,500 00 sub total Balance 8,550 00 8,550 00 subcontrator payable date dr cr 3 29 150 00 3 31 150 00 sub total Balance 150 00 150 00 Accounts Payable Furniture date dr cr 1 12 50,000 00 2 15 2,083 33 3 15 2,083 33 sub total Balance 4,166 66 50,000 00 45,833 34 Accounts Payable Bees date dr cr 2 8 10,000 00 2 15 10,000 00 3 3 3,150 00 3 6 472 50 2,677 50 sub total Balance date 1 2 2 5 3 5 13,150 00 13,150 00 office depot payable dr cr 1,200 00 400 00 400 00 sub total Balance 800 00 1,200 00 400 00 Accounts Payable dr date 1 18 1 25 3 8 3 14 3 15 1 18 1 25 2 23 3 1 2 8 2 15 3 3 3 6 2 9 2 15 3 29 3 31 1 2 2 5 3 5 1 12 2 15 3 15 1 18 1 26 2 5 sub total Balance cr 3,150 00 3,150 00 12,000 00 4,200 00 7,800 00 1,050 00 1,050 00 7,500 00 7,500 00 10,000 00 10,000 00 3,150 00 472 50 2,677 50 3,600 00 3,600 00 150 00 150 00 1,200 00 400 00 400 00 50,000 00 2,083 33 2,083 33 45,566 66 15 00 12 50 37 50 91,865 00 46,298 34 person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 16 Jan salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Feb salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Feb salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 31 Mar salary 20 Federal 4 State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2 SS 45 Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self YTD GROSS $ 1,500 00 $ 1,500 00 $ 1,500 00 $ 2,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 3,000 00 $ 3,000 00 $ 3,000 00 $ 5,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 4,500 00 $ 4,500 00 $ 4,500 00 $ 7,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ YTD GROSS $ 6,000 00 $ 6,000 00 $ 6,000 00 $ 10,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 75 00 $ YTD GROSS $ 7,500 00 $ 7,500 00 $ 7,500 00 $ 12,500 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $ YTD GROSS $ 9,000 00 $ 9,000 00 $ 9,000 00 $ 15,000 00 Employer Taxes 3 SUTA 08 FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $ Payroll Accounts Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 1 16 300 00 1 16 300 00 1 16 300 00 1 16 500 00 1 31 1,400 00 2 1 300 00 2 1 300 00 2 1 300 00 2 1 500 00 2 16 300 00 2 16 300 00 2 16 300 00 2 16 500 00 2 28 2,800 00 3 1 300 00 3 1 300 00 3 1 300 00 3 1 500 00 3 16 300 00 3 16 300 00 3 16 300 00 3 16 500 00 3 31 2,800 00 1 16 60 00 1 16 60 00 1 16 60 00 1 16 100 00 1 31 280 00 2 1 60 00 2 1 60 00 2 1 60 00 2 1 100 00 2 16 60 00 2 16 60 00 2 16 60 00 2 16 100 00 2 28 560 00 3 1 60 00 3 1 60 00 3 1 60 00 3 1 100 00 3 16 60 00 3 16 60 00 3 16 60 00 3 16 100 00 3 31 560 00 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 1 16 56 00 FICA EE Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance FICA ER Payable date dr cr 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance FITW Payable dr cr 300 00 300 00 300 00 500 00 1,400 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 7,000 00 FUTA Payable dr 7,000 00 cr 56 00 56 00 56 00 52 00 108 00 36 00 24 00 60 00 224 00 224 00 date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance SIT Payable dr cr 60 00 60 00 60 00 100 00 280 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 1,400 00 SUI Payable dr 1,400 00 cr 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 1,050 00 1,050 00 1 31 2 1 2 16 2 28 3 1 3 16 3 31 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 56 00 56 00 52 00 108 00 36 00 24 00 60 00 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 15,029 00 15,029 00 My original journal entries 31 Mar Purchases 33,486 95 purchase returns 6,247 50 purchase discounts 715 55 purchases 40,450 00 31 Mar costs of goods sold 32,036 95 inventory 32,036 95 I was going to correct my original entries and got confused again My accounts are out of balance If I credit Purchases for $33,486 95 it won't come to a zero balance Am I missing something Cost of goods sold Purchases 33486 95 Less Purchase return 6247 5 Less Purchase discount 715 55 Freight In 950 Cost of goods sold date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 6963 05 Purchases dr 3,150 0 0 1,050 0 0 10,000 00 3,600 0 0 7,500 0 0 3,150 0 0 12,000 00 27473 9 cr date Purchase discount dr 63 0 1 25 0 21 0 1 25 0 2 15 0 2 15 0 3 1 0 3 10 5 200 0 72 0 150 0 53 5 156 0 3 15 0 40,450 0 0 sub total 40,450 00 cr 715 3 31 55 40,450 0 0 sub total 55 715 715 5 5 Balance date Purchase Returns dr 2 1 3 6 3 14 3 31 6,247 5 0 cr 1,575 0 0 472 5 0 4,200 0 0 date 3 31 COGS dr 32,036 9 5 cr 6,247 5 0 sub total Balance Balance date 3 31 Inventory dr 33,486 9 5 Balance 33,486 9 5 1,450 0 0 sub total Balance cr 32,036 9 5 3 31 sub total 6,247 5 0 32,036 9 5 32,036 9 5 32,036 9 5

Question

I have a brand new company with zero beginning inventory using the periodic method  I m trying to figure out my COGS and the appropriate entries to make with it  I have a brand new company with zero beginning inventory using the periodic method  I'm trying to figure out my COGS and the appropriate entries to make with it  I have two text books showing two different methods of calculating but something is still missing  This is what I have but I got lost trying to figure out where to put my Freight In FYI  This is how I was trying to calculate it Computers are sold for $150 and software $50 if a specific price wasn't given 2 Jan Cash Common Stock Additional Paid in Capital   CS 1 Jan Building Land Cash Mortgage Payable 5 Jan Office Supplies Office Depot Payable 12 Jan Demo Computer (office) Cash 12 Jan Furniture Accounts Payable   Furniture Cash 15 Jan Prepaid Insurance Cash 16 Jan Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Jan Prepaid Advertising   Simon Cash 18 Jan Purchases Accounts Payable   Barbee Freight in Cash 18 Jan Purchases computers Accounts Payable   Barnes 25 Jan Accounts Receivable   Camika Sales Revenue Sales Tax Payable 25 Jan Accounts Payable   Barbee Purchase discount Cash 25 Jan Accounts Payable   Barnes Purchase discount Cash 26 Jan Cash Sales Tax Payable Sales Revenue 30 Jan Cash Unearned Revenue 31 Jan Depreciation Expense Accu Depr   Demo Computers Depreciation Expense Accum Depr  Building Depreciation Expense Accum Depr   Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense 1,500,000 00 1,000,000 00 500,000 00 350,000 00 50,000 00 80,000 00 320,000 00 1,200 00 1,200 00 18,000 00 18,000 00 60,000 00 50,000 00 10,000 00 2,400 00 2,400 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 801 50 535 50 56 00 210 00 10,000 00 10,000 00 3,150 00 3,150 00 75 00 75 00 1,050 00 1,050 00 date 1 2 1 1 1 12 1 12 1 15 1 16 1 16 1 16 1 16 1 17 1 18 1 25 1 25 1 26 1 30 1 31 1 31 1 31 1 31 2 1 2 1 2 1 2 1 2 1 2 2 2 2 2 5 2 8 2 15 2 15 2 15 2 16 2 16 2 16 2 16 2 18 2 18 2 28 2 28 2 28 2 28 2 28 3 1 3 1 3 1 3 1 cash dr 1,500,000 00 3,150 00 63 00 3,087 00 1,050 00 21 00 1,029 00 262 50 12 50 250 00 150 00 150 00 1,000 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 3 2 3 3 3 3 3 5 3 6 3 10 3 10 3 15 3 15 3 16 3 16 3 16 3 16 3 17 3 21 3 21 3 25 3 31 3 31 date 3 31 80,000 00 18,000 00 10,000 00 2,400 00 1,025 25 1,025 25 1,025 25 1,708 75 10,000 00 75 00 3,087 00 1,029 00 262 50 150 00 2,471 00 56 00 280 00 210 00 1,025 25 1,025 25 1,025 25 1,708 75 2,225 00 3,280 54 283 5 400 75 9,800 00 2,250 00 3,528 00 1,025 25 1,025 25 1,025 25 1,708 75 300 40 4,942 00 108 560 420 Balance date 1 17 1 31 2 28 3 31 1,025 25 1,025 25 1,025 25 1,708 75 7,350 00 2,225 00 3,280 53 Prepaid Advertising dr 10,000 00 date 1 12 demo computers dr 18,000 00 sub total Balance 18,000 00 18,000 00 sub total Balance date sub total Balance 32,036 95 33,486 95 1,450 00 date 1 1 cr cr Land dr 50,000 00 32,036 95 cr 5,000 01   Accum Depr   Building dr   cr 17,500 00 17,500 00 17,500 00 52,500 00 52,500 00 Accounts Payable dr 45,566 66 cr 91,865 00 45,566 66 91,865 00 46,298 34 sub total Balance sub total Balance sub total Balance 50,000 00 50,000 00 date 1 12 cr date 1 15 1 31 2 28 3 31 date 1 2 1,666 67 1,666 67 1,666 67 10,000 00 4,999 99 date 1 31 2 28 3 31 date 3 31 3 31 Inventory dr 33,486 95 sub total Balance 18,488 50 sub total Balance 1,000 00 315 00 300 00 15 00 cr Accounts Receivable dr cr 43,802 81 25,314 31 furniture dr 60,000 00 sub total Balance 60,000 00 60,000 00 date 1 1 2 2 3 2 sub total Balance   mortgage payable dr cr 200 00 200 00 200 00 2,400 00 1,800 00 office supplies dr 1,200 00 600 00 cr 1,200 00 1,200 00     date 1 1 cr   Accum Depr   demo computers date dr cr 1 31 1,000 00 2 28 1,000 00 3 31 1,000 00 sub total Balance Prepaid Insurance dr 2,400 00 3,000 00 3,000 00 cr 320,000 00 Building dr 350,000 00 sub total Balance 350,000 00 350,000 00 cr   Accum Depreciation   Furniture date dr cr 1 31 1,666 67 2 28 1,666 67 3 31 1,666 67 sub total Balance   5,000 01 5,000 01 Payroll Accounts Payable date dr cr 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 sub total Balance     1,000 00 625 400 175 450 2,623 95 7,644 00 2,250 00 1,025 25 1,025 25 1,025 25 1,708 75 180 00 19,800 00 799 31 2,000 00 75 4,942 00 60 560 420 200 00 535 50 535 50 1,400 00 date 1 2 sub total Balance date 1 30 3 10 3 17 3 31 sub total Balance Common Stock dr   cr 1,000,000 00 date 1 2 1,000,000 00 1,000,000 00 sub total Balance Unearned revenue dr cr 150 00 450 00 180 00 Additional Paid In CS dr cr 500,000 00   500,000 00 500,000 00 date sub total Balance Retained Earnings dr cr     Unearned travel revenue date dr cr 3 25 2,000 00 450 00 450 00 780 00 330 00 sub total Balance cr 300 00 date 2 12   2,000 00 2,000 00 2,471 00 56 00 56 00 280 00 280 00 sub ttal Balance 1,526,300 31 1,314,585 79 211,714 52 210 00 210 00 1,666 67 date 1 18 Sales revenue dr Sales returns dr 200 00 cr date 2 2 Sales discount dr 31 50 cr Prepaid Advertising 1 Feb Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Feb Receivable from Barbee Purchase returns return of 15 purchases 1 18 1 Feb Utilities Expense   Electric Utilities Expense   Telephone Utilities Expense   Security Utilities Expense   Janitorial Utilities Expense   Trash Utilities Expense   Water Cash 2 Feb Interest Expense Mortgage Payable Insurance Expense Taxes Expense Cash 2 Feb Cash Sales Discount Accounts Receivable   Camika 3 Feb Accounts Receivable   Kellie Sales Revenue 5 Feb Accounts Receivable   Belinda Sales Revenue Sales Tax Payable 5 Feb Office Depot Payable Cash 7 Feb Accounts Receivable   Angie Sales Revenue 8 Feb Purchases computers Accounts Payable   Bees Freight in Cash 9 Feb Purchases computers Accounts Payable   Cees 10 Feb Accounts Receivable   Kellie Sales Revenue 12 Feb Sales returns Accounts Receivable   Kellie 15 Feb Accounts Payable   Bees Purchase discount Cash 15 Feb Accounts Payable   Furniture Interest Expense Cash 15 Feb Accounts Payable   Cees Purchase discount Cash 16 Feb Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable 1,666 67 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1 26 2 3 2 5 2 7 2 10 2 18 3 12 3 15 3 31 3 31 sub total Balance 2,500 00 191 25 500 00 100 00 1,708 75 date 3 6 3 8 250 00 1,000 00 750 00 900 00 1,200 00 300 00 22,000 00 16,000 00 450 00 225 00 43,375 00   interest Revenue dr sub total Balance sub total Balance 200 00 200 00   2,200 00 sub total Balance 2,231 50 2,231 50   3,200 00 3,200 00 cr 11 81 13 50 801 50 535 50 56 00 210 00 3 21   25 31 25 31 date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 Purchases dr 3,150 00 1,050 00 10,000 00 3,600 00 7,500 00 3,150 00 12,000 00 1,575 00 cr 40,450 00 date 1 25 1 25 2 15 2 15 3 1 3 10 3 15 3 31 Purchase discount dr cr 63 00 21 00 200 00 72 00 150 00 53 55 156 00 715 55 1,575 00 sub total Balance 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,333 33 1,197 21 250 00 500 00 3,280 54 date 1 18 2 8 3 3 3 6 sub total Balance Freight In dr 75 00 75 00 625 00 175 00 date 2 1 3 6 3 14 3 31 Purchase Returns dr 40,450 00 sub total Balance 715 55   cr 1,575 00 472 50 4,200 00 283 50 31 50 sub total Balance 32,036 95 32,036 95 insurance expense dr 250 00 200 00 250 00 200 00 200 00 715 55 cr 6,247 50 sub total Balance date 3 31 COGS dr 32,036 95 date 2 2 2 28 3 2 3 31 1 31 cr 950 00 950 00 40,450 00   6,247 50   6,247 50   315 00 1,000 00 1,000 00 787 50 date 1 31 750 00 37 50 400 00 2 28 400 00 900 00 900 00 3 31 10,000 00 10,000 00 Depreciation Expense dr 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 cr cr   75 00 75 00 3,600 00 3,600 00 sub total Balance 60,500 01 60,500 01   sub total Balance 1,100 00 1,100 00   1,200 00 1,200 00 200 00 200 00 10,000 00 200 00 9,800 00 date 3 29 subcontractor expense dr cr 150 00 sub total Balance 150 00 150 00 2,083 33 166 67 2,250 00 3,600 00 72 00 3,528 00 date 2 2 2 28 3 2 3 31 1 31 insurance expense dr 250 00 200 00 250 00 200 00 200 00 cr date 2 2 3 2   1,500 00 114 75 300 00 60 00 1,025 25 sub total Balance 1,100 00 1,100 00 date Payroll Tax Expense dr sub total Balance taxes Expense dr 500 00 500 00 cr 1,000 00 1,000 00     1,500 00 114 75 300 00 60 00 date Interest expense dr cr cr date Misc Expense dr cr Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash 16 Feb Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 18 Feb Cash Sales Revenue miscellaneous expense Cash 23 Feb Purchases computers Accounts Payable   Barnes 28 Feb Depreciation Expense Accu Depr   Demo Computers Depreciation Expense Accu Depr   Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 28 Feb Cash Accounts Receivable   Kellie 1 Mar Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Mar Accounts Payable   Barnes Purchase discount Cash 1 Mar Utilities Expense   Electric Utilities Expense   Telephone Utilities Expense   Security Utilities Expense   Janitorial Utilities Expense   Trash Sewage Utilities Expense   Water Cash 2 Mar Interest Expense Mortgage Payable Insurance Expense 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2 2 2 15 3 2 3 15 1,333 33 166 67 1,328 34 166 67   1 16 12 1 2 16 3 1 3 16 801 50 801 50 797 50 781 50 769 50 2 18 40 00 sub total Balance 40 00 40 00 2,500 00 191 25 500 00 100 00 1,708 75 sub total Balance 797 50 535 50 52 00 210 00 300 00 300 00 40 00 date 1 16 2 1 2 16 3 1 3 16 2,995 01 2,995 01   Salary Expense   D'Vyne dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 sub total Balance date 1 16 2 1 2 16 3 1 3 16 3,951 50 3,951 50   Salary Expense   Precious dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense   Blue dr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00   cr 40 00 7,500 00 7,500 00 1,000 00 sub total Balance 7,500 00 7,500 00   sub total Balance 7,500 00 7,500 00 date 2 1 3 1 Utilities Expense dr 2,225 00 2,225 00 sub total Balance 4,450 00 4,450 00   1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense   Self dr 2,500 00 2,500 00 2,500 00 2,500 00 2,500 00 sub total Balance 12,500 00 12,500 00 cr cr 4,942 00 108 00 108 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 781 50 535 50 36 00 210 00 7,500 00 150 00 7,350 00 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,328 34 1,202 19 250 00     sub total Balance 7,500 00 7,500 00   Taxes Expense Cash 3 Mar Purchases computers Accounts Payable   Bees Freight in Cash 5 Mar Office Depot Payable Cash 6 Mar Accounts Payable   Bees Purchase Return Freight in Cash 6 Mar interest fee receivable   Belinda Interest Revenue 8 Mar Purchases software Accounts Payable   Barbee 8 Mar interest fee receivable   Angie Interest Revenue 10 Mar Cash Unearned revenue 10 Mar Accounts Payable   Bees Purchase discount Cash 12 Mar Accounts Receivable   Kellie Sales Revenue 14 Mar Accounts Payable   Barbee Purchase Return 15 Mar Accounts Receivable   Angie Sales Revenue 15 Mar Accounts Payable   Barbee Purchase discount Cash 15 Mar Accounts Payable   Furniture Interest Expense Cash 16 Mar Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash 16 Mar Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Mar Cash Unearned Revenue 21 Mar Cash Sales Discount Accounts Receivable   Kellie 21 Mar Cash Accounts Receivable   Belinda interest fee receivable   Belinda 25 Mar Cash Unearned travel revenue 29 Mar subcontractor expense subcontrator payable 31 Mar Unearned revenue Sales Revenue 31 Mar Cash subcontrator payable Sales Revenue 31 Mar Depreciation Expense Accum Depr   Demo Computers Depreciation Expense Accu Depre   Building 500 00 3,280 53 3,150 00 3,150 00 625 00 625 00 400 00 400 00 472 50 472 50 175 00 175 00 11 81 11 81 12,000 00 12,000 00 13 50 13 50 450 00 450 00 2,677 50 53 55 2,623 95 22,000 00 22,000 00 4,200 00 4,200 00 16,000 00 16,000 00 7,800 00 156 00 7,644 00 2,083 33 166 67 2,250 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 769 50 535 50 24 00 210 00 180 00 180 00 19,800 00 2,200 00 22,000 00 799 31 787 50 11 81 2,000 00 2,000 00 150 00 150 00 450 00 450 00 75 00 150 00 225 00 1,000 00 1,000 00 17,500 00 17,500 00 Depreciation Expense Accu DeprFurniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 31 Mar Purchases purchase returns purchase discounts purchases 31 Mar costs of goods sold inventory 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 4,942 00 60 00 60 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 33,486 95 6,247 50 715 55 40,450 00 32,036 95 2,354,653 16 7 Apr Unearned revenue Sales Revenue Cash Sales Revenue 21 Apr cash Accounts Receivable   Angie Late fees collected 32,036 95 2,354,653 16 180 00 180 00 420 00 420 00 927 00 900 00 27 00 Trial Balance Account Title cash Accounts Receivable Inventory Prepaid Insurance Prepaid Advertising Land Building demo computers furniture office supplies Accum Depr   demo computers Accum Depreciation   Furniture Accum Depr   Building accounts payable mortgage payable payroll accounts payable Unearned travel revenue Unearned revenue common stock Additional Paid in Capital   CS Retained Earnings Sales revenue Sales Discount Sales returns interest Revenue Purchases Purchase discount Purchase Returns Freight In 4950 COGS Advertising Expense Depreciation Expense Interest Expense miscellaneous expense insurance expense taxes Expense Payroll Tax Expense subcontractor expense Utilities Expense Salary Expense   Precious Salary Expense   D'Vyne Salary Expense   Blue Salary Expense   Self dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 Adjustments cr dr cr Income Statement dr cr Retained Earnings dr cr Balance Shhet dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 cr 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 2,000 00 330 00 1,000,000 00 500,000 00 2,000 00 330 00 1,000,000 00 500,000 00 43,375 00 2,231 50 200 00 43,375 00 2,231 50 200 00 25 31 0 25 31 0 0 0 32,036 95 5,000 01 60,500 01 2,995 01 40 00 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 32,036 95 5,000 01 60,500 01 2,995 01     1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 283 50 Common Stock Sales revenue interest Revenue Purchases Freight In Depreciation Expense 472 50 subcontractor expense Salary Expense   D'Vyne 472 50 472 50 472 50 Salary Expense   Self Accounts Receivable   Belinda date dr cr 2 5 787 50 3 21 787 50 sub total Balance 787 50   787 50 Accounts Receivable   Angie date dr cr 2 7 900 00 3 15 16,000 00 sub total Balance 16,900 00 16,900 00 13 50 13 50 sub total Balance 315 00   315 00 Receivable from Barbee date dr cr 2 1 1,575 00   Interest Receivable   Angie date dr cr 3 8 13 50 sub total Balance Accounts Receivable   Camika date dr cr 1 25 315 00 2 2 315 00 sub total Balance 1,575 00 1,575 00 sub total Balance 11 81   sub total Balance 24,200 00   24,200 00 Accounts Receivable date dr cr 1 25 315 00 2 1 1,575 00 2 2 315 00 2 3 1,000 00 2 5 787 50 2 7 900 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 6 11 81 3 8 13 50 3 21 11 81 3 12 22,000 00 3 15 16,000 00 3 21 22,000 00 3 21 787 50   Interest Receivable   Belinda date dr cr 3 6 11 81 3 21 11 81   Accounts Receivable   Kellie date dr cr 2 3 1,000 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 12 22,000 00 3 21 22,000 00 11 81 sub total Balance 43,802 81 18,488 50 25,314 31 Accounts Payable   Barbee date dr cr 1 18 3,150 00 1 25 3,150 00 3 8 12,000 00 3 14 4,200 00 3 15 7,800 00 sub total Balance 15,150 00   15,150 00 Accounts Payable   Cees date dr cr 2 9 3,600 00 2 15 3,600 00 sub total Balance date 1 1 2 2 3 2 sub total Balance date 1 18 1 26 2 5 sub total Balance 3,600 00   3,600 00 mortgage payable dr cr 320,000 00 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 Sales Tax Payable dr cr 15 00 12 50 37 50   65 00  REF  Accounts Payable   Barnes date dr cr 1 18 1,050 00 1 25 1,050 00 2 23 7,500 00 3 1 7,500 00 sub total Balance 8,550 00   8,550 00 subcontrator payable date dr cr 3 29 150 00 3 31 150 00 sub total Balance 150 00   150 00 Accounts Payable   Furniture date dr cr 1 12 50,000 00 2 15 2,083 33 3 15 2,083 33 sub total Balance 4,166 66 50,000 00 45,833 34 Accounts Payable   Bees date dr cr 2 8 10,000 00 2 15 10,000 00 3 3 3,150 00 3 6 472 50 2,677 50 sub total Balance date 1 2 2 5 3 5 13,150 00   13,150 00 office depot payable dr cr 1,200 00 400 00 400 00 sub total Balance 800 00 1,200 00 400 00 Accounts Payable dr date 1 18 1 25 3 8 3 14 3 15 1 18 1 25 2 23 3 1 2 8 2 15 3 3 3 6 2 9 2 15 3 29 3 31 1 2 2 5 3 5 1 12 2 15 3 15 1 18 1 26 2 5 sub total Balance cr 3,150 00 3,150 00 12,000 00 4,200 00 7,800 00 1,050 00 1,050 00 7,500 00 7,500 00 10,000 00 10,000 00 3,150 00 472 50 2,677 50 3,600 00 3,600 00 150 00 150 00 1,200 00 400 00 400 00 50,000 00 2,083 33 2,083 33 45,566 66 15 00 12 50 37 50 91,865 00 46,298 34 person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 16 Jan salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Feb salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Feb salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 31 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self YTD GROSS $ 1,500 00 $ 1,500 00 $ 1,500 00 $ 2,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 3,000 00 $ 3,000 00 $ 3,000 00 $ 5,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 4,500 00 $ 4,500 00 $ 4,500 00 $ 7,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $   YTD GROSS $ 6,000 00 $ 6,000 00 $ 6,000 00 $ 10,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 75 00 $   YTD GROSS $ 7,500 00 $ 7,500 00 $ 7,500 00 $ 12,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $   YTD GROSS $ 9,000 00 $ 9,000 00 $ 9,000 00 $ 15,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $   Payroll Accounts Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 1 16 300 00 1 16 300 00 1 16 300 00 1 16 500 00 1 31 1,400 00 2 1 300 00 2 1 300 00 2 1 300 00 2 1 500 00 2 16 300 00 2 16 300 00 2 16 300 00 2 16 500 00 2 28 2,800 00 3 1 300 00 3 1 300 00 3 1 300 00 3 1 500 00 3 16 300 00 3 16 300 00 3 16 300 00 3 16 500 00 3 31 2,800 00 1 16 60 00 1 16 60 00 1 16 60 00 1 16 100 00 1 31 280 00 2 1 60 00 2 1 60 00 2 1 60 00 2 1 100 00 2 16 60 00 2 16 60 00 2 16 60 00 2 16 100 00 2 28 560 00 3 1 60 00 3 1 60 00 3 1 60 00 3 1 100 00 3 16 60 00 3 16 60 00 3 16 60 00 3 16 100 00 3 31 560 00 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 1 16 56 00 FICA EE Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance FICA ER Payable date dr cr 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance   date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance FITW Payable dr cr 300 00 300 00 300 00 500 00 1,400 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 7,000 00 FUTA Payable dr 7,000 00   cr 56 00 56 00 56 00 52 00 108 00 36 00 24 00 60 00 224 00 224 00   date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance SIT Payable dr cr 60 00 60 00 60 00 100 00 280 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 1,400 00 SUI Payable dr 1,400 00 cr 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 1,050 00 1,050 00   1 31 2 1 2 16 2 28 3 1 3 16 3 31 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 56 00 56 00 52 00 108 00 36 00 24 00 60 00 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 15,029 00 15,029 00 My original journal entries 31 Mar Purchases 33,486 95 purchase returns 6,247 50 purchase discounts 715 55 purchases 40,450 00 31 Mar costs of goods sold 32,036 95 inventory 32,036 95 I was going to correct my original entries and got confused again  My accounts are out of balance  If I credit Purchases for $33,486 95 it won't come to a zero balance  Am I missing something  Cost of goods sold  Purchases 33486 95 Less Purchase return 6247 5 Less  Purchase discount 715 55 Freight In 950 Cost of goods sold  date 1 18 1 18 2 8 2 9 2 23 3 3 3 8  6963 05 Purchases dr 3,150 0 0 1,050 0 0 10,000  00 3,600 0 0 7,500 0 0 3,150 0 0 12,000  00 27473 9 cr date Purchase discount dr 63 0 1 25 0 21 0 1 25 0 2 15 0 2 15 0 3 1 0 3 10 5 200 0 72 0 150 0 53 5 156 0 3 15 0 40,450 0 0 sub total 40,450  00 cr 715  3 31 55 40,450 0 0 sub total 55 715  715 5 5 Balance date   Purchase Returns dr 2 1 3 6 3 14 3 31 6,247 5 0 cr 1,575 0 0 472 5 0 4,200 0 0 date 3 31   COGS dr 32,036 9 5 cr 6,247 5 0 sub total Balance Balance date 3 31   Inventory dr 33,486 9 5 Balance 33,486 9 5 1,450 0 0 sub total Balance cr 32,036 9 5 3 31 sub total 6,247 5 0 32,036 9 5 32,036 9 5 32,036 9 5   2 Jan Cash Common Stock Additional Paid in Capital   CS 1 Jan Building Land Cash Mortgage Payable 5 Jan Office Supplies Office Depot Payable 12 Jan Demo Computer (office) Cash 12 Jan Furniture Accounts Payable   Furniture Cash 15 Jan Prepaid Insurance Cash 16 Jan Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Jan Prepaid Advertising   Simon Cash 18 Jan Purchases Accounts Payable   Barbee Freight in Cash 18 Jan Purchases computers Accounts Payable   Barnes 25 Jan Accounts Receivable   Camika Sales Revenue Sales Tax Payable 25 Jan Accounts Payable   Barbee Purchase discount Cash 25 Jan Accounts Payable   Barnes Purchase discount Cash 26 Jan Cash Sales Tax Payable Sales Revenue 30 Jan Cash Unearned Revenue 31 Jan Depreciation Expense Accu Depr   Demo Computers Depreciation Expense Accum Depr  Building Depreciation Expense Accum Depr   Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense 1,500,000 00 1,000,000 00 500,000 00 350,000 00 50,000 00 80,000 00 320,000 00 1,200 00 1,200 00 18,000 00 18,000 00 60,000 00 50,000 00 10,000 00 2,400 00 2,400 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 801 50 535 50 56 00 210 00 10,000 00 10,000 00 3,150 00 3,150 00 75 00 75 00 1,050 00 1,050 00 date 1 2 1 1 1 12 1 12 1 15 1 16 1 16 1 16 1 16 1 17 1 18 1 25 1 25 1 26 1 30 1 31 1 31 1 31 1 31 2 1 2 1 2 1 2 1 2 1 2 2 2 2 2 5 2 8 2 15 2 15 2 15 2 16 2 16 2 16 2 16 2 18 2 18 2 28 2 28 2 28 2 28 2 28 3 1 3 1 3 1 3 1 cash dr 1,500,000 00 3,150 00 63 00 3,087 00 1,050 00 21 00 1,029 00 262 50 12 50 250 00 150 00 150 00 1,000 00 1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 3 2 3 3 3 3 3 5 3 6 3 10 3 10 3 15 3 15 3 16 3 16 3 16 3 16 3 17 3 21 3 21 3 25 3 31 3 31 date 3 31 80,000 00 18,000 00 10,000 00 2,400 00 1,025 25 1,025 25 1,025 25 1,708 75 10,000 00 75 00 3,087 00 1,029 00 262 50 150 00 2,471 00 56 00 280 00 210 00 1,025 25 1,025 25 1,025 25 1,708 75 2,225 00 3,280 54 283 5 400 75 9,800 00 2,250 00 3,528 00 1,025 25 1,025 25 1,025 25 1,708 75 300 40 4,942 00 108 560 420 Balance date 1 17 1 31 2 28 3 31 1,025 25 1,025 25 1,025 25 1,708 75 7,350 00 2,225 00 3,280 53 Prepaid Advertising dr 10,000 00 date 1 12 demo computers dr 18,000 00 sub total Balance 18,000 00 18,000 00 sub total Balance date sub total Balance 32,036 95 33,486 95 1,450 00 date 1 1 cr cr Land dr 50,000 00 32,036 95 cr 5,000 01   Accum Depr   Building dr   cr 17,500 00 17,500 00 17,500 00 52,500 00 52,500 00 Accounts Payable dr 45,566 66 cr 91,865 00 45,566 66 91,865 00 46,298 34 sub total Balance sub total Balance sub total Balance 50,000 00 50,000 00 date 1 12 cr date 1 15 1 31 2 28 3 31 date 1 2 1,666 67 1,666 67 1,666 67 10,000 00 4,999 99 date 1 31 2 28 3 31 date 3 31 3 31 Inventory dr 33,486 95 sub total Balance 18,488 50 sub total Balance 1,000 00 315 00 300 00 15 00 cr Accounts Receivable dr cr 43,802 81 25,314 31 furniture dr 60,000 00 sub total Balance 60,000 00 60,000 00 date 1 1 2 2 3 2 sub total Balance   mortgage payable dr cr 200 00 200 00 200 00 2,400 00 1,800 00 office supplies dr 1,200 00 600 00 cr 1,200 00 1,200 00     date 1 1 cr   Accum Depr   demo computers date dr cr 1 31 1,000 00 2 28 1,000 00 3 31 1,000 00 sub total Balance Prepaid Insurance dr 2,400 00 3,000 00 3,000 00 cr 320,000 00 Building dr 350,000 00 sub total Balance 350,000 00 350,000 00 cr   Accum Depreciation   Furniture date dr cr 1 31 1,666 67 2 28 1,666 67 3 31 1,666 67 sub total Balance   5,000 01 5,000 01 Payroll Accounts Payable date dr cr 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 sub total Balance     1,000 00 625 400 175 450 2,623 95 7,644 00 2,250 00 1,025 25 1,025 25 1,025 25 1,708 75 180 00 19,800 00 799 31 2,000 00 75 4,942 00 60 560 420 200 00 535 50 535 50 1,400 00 date 1 2 sub total Balance date 1 30 3 10 3 17 3 31 sub total Balance Common Stock dr   cr 1,000,000 00 date 1 2 1,000,000 00 1,000,000 00 sub total Balance Unearned revenue dr cr 150 00 450 00 180 00 Additional Paid In CS dr cr 500,000 00   500,000 00 500,000 00 date sub total Balance Retained Earnings dr cr     Unearned travel revenue date dr cr 3 25 2,000 00 450 00 450 00 780 00 330 00 sub total Balance cr 300 00 date 2 12   2,000 00 2,000 00 2,471 00 56 00 56 00 280 00 280 00 sub ttal Balance 1,526,300 31 1,314,585 79 211,714 52 210 00 210 00 1,666 67 date 1 18 Sales revenue dr Sales returns dr 200 00 cr date 2 2 Sales discount dr 31 50 cr Prepaid Advertising 1 Feb Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Feb Receivable from Barbee Purchase returns return of 15 purchases 1 18 1 Feb Utilities Expense   Electric Utilities Expense   Telephone Utilities Expense   Security Utilities Expense   Janitorial Utilities Expense   Trash Utilities Expense   Water Cash 2 Feb Interest Expense Mortgage Payable Insurance Expense Taxes Expense Cash 2 Feb Cash Sales Discount Accounts Receivable   Camika 3 Feb Accounts Receivable   Kellie Sales Revenue 5 Feb Accounts Receivable   Belinda Sales Revenue Sales Tax Payable 5 Feb Office Depot Payable Cash 7 Feb Accounts Receivable   Angie Sales Revenue 8 Feb Purchases computers Accounts Payable   Bees Freight in Cash 9 Feb Purchases computers Accounts Payable   Cees 10 Feb Accounts Receivable   Kellie Sales Revenue 12 Feb Sales returns Accounts Receivable   Kellie 15 Feb Accounts Payable   Bees Purchase discount Cash 15 Feb Accounts Payable   Furniture Interest Expense Cash 15 Feb Accounts Payable   Cees Purchase discount Cash 16 Feb Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable 1,666 67 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1 26 2 3 2 5 2 7 2 10 2 18 3 12 3 15 3 31 3 31 sub total Balance 2,500 00 191 25 500 00 100 00 1,708 75 date 3 6 3 8 250 00 1,000 00 750 00 900 00 1,200 00 300 00 22,000 00 16,000 00 450 00 225 00 43,375 00   interest Revenue dr sub total Balance sub total Balance 200 00 200 00   2,200 00 sub total Balance 2,231 50 2,231 50   3,200 00 3,200 00 cr 11 81 13 50 801 50 535 50 56 00 210 00 3 21   25 31 25 31 date 1 18 1 18 2 8 2 9 2 23 3 3 3 8 Purchases dr 3,150 00 1,050 00 10,000 00 3,600 00 7,500 00 3,150 00 12,000 00 1,575 00 cr 40,450 00 date 1 25 1 25 2 15 2 15 3 1 3 10 3 15 3 31 Purchase discount dr cr 63 00 21 00 200 00 72 00 150 00 53 55 156 00 715 55 1,575 00 sub total Balance 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,333 33 1,197 21 250 00 500 00 3,280 54 date 1 18 2 8 3 3 3 6 sub total Balance Freight In dr 75 00 75 00 625 00 175 00 date 2 1 3 6 3 14 3 31 Purchase Returns dr 40,450 00 sub total Balance 715 55   cr 1,575 00 472 50 4,200 00 283 50 31 50 sub total Balance 32,036 95 32,036 95 insurance expense dr 250 00 200 00 250 00 200 00 200 00 715 55 cr 6,247 50 sub total Balance date 3 31 COGS dr 32,036 95 date 2 2 2 28 3 2 3 31 1 31 cr 950 00 950 00 40,450 00   6,247 50   6,247 50   315 00 1,000 00 1,000 00 787 50 date 1 31 750 00 37 50 400 00 2 28 400 00 900 00 900 00 3 31 10,000 00 10,000 00 Depreciation Expense dr 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 1,000 00 17,500 00 1,666 67 cr cr   75 00 75 00 3,600 00 3,600 00 sub total Balance 60,500 01 60,500 01   sub total Balance 1,100 00 1,100 00   1,200 00 1,200 00 200 00 200 00 10,000 00 200 00 9,800 00 date 3 29 subcontractor expense dr cr 150 00 sub total Balance 150 00 150 00 2,083 33 166 67 2,250 00 3,600 00 72 00 3,528 00 date 2 2 2 28 3 2 3 31 1 31 insurance expense dr 250 00 200 00 250 00 200 00 200 00 cr date 2 2 3 2   1,500 00 114 75 300 00 60 00 1,025 25 sub total Balance 1,100 00 1,100 00 date Payroll Tax Expense dr sub total Balance taxes Expense dr 500 00 500 00 cr 1,000 00 1,000 00     1,500 00 114 75 300 00 60 00 date Interest expense dr cr cr date Misc Expense dr cr Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash 16 Feb Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 18 Feb Cash Sales Revenue miscellaneous expense Cash 23 Feb Purchases computers Accounts Payable   Barnes 28 Feb Depreciation Expense Accu Depr   Demo Computers Depreciation Expense Accu Depr   Building Depreciation Expense Accum Depr Furniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 28 Feb Cash Accounts Receivable   Kellie 1 Mar Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 1 Mar Accounts Payable   Barnes Purchase discount Cash 1 Mar Utilities Expense   Electric Utilities Expense   Telephone Utilities Expense   Security Utilities Expense   Janitorial Utilities Expense   Trash Sewage Utilities Expense   Water Cash 2 Mar Interest Expense Mortgage Payable Insurance Expense 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2 2 2 15 3 2 3 15 1,333 33 166 67 1,328 34 166 67   1 16 12 1 2 16 3 1 3 16 801 50 801 50 797 50 781 50 769 50 2 18 40 00 sub total Balance 40 00 40 00 2,500 00 191 25 500 00 100 00 1,708 75 sub total Balance 797 50 535 50 52 00 210 00 300 00 300 00 40 00 date 1 16 2 1 2 16 3 1 3 16 2,995 01 2,995 01   Salary Expense   D'Vyne dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 sub total Balance date 1 16 2 1 2 16 3 1 3 16 3,951 50 3,951 50   Salary Expense   Precious dr cr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense   Blue dr 1,500 00 1,500 00 1,500 00 1,500 00 1,500 00   cr 40 00 7,500 00 7,500 00 1,000 00 sub total Balance 7,500 00 7,500 00   sub total Balance 7,500 00 7,500 00 date 2 1 3 1 Utilities Expense dr 2,225 00 2,225 00 sub total Balance 4,450 00 4,450 00   1,000 00 17,500 00 17,500 00 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 date 1 16 2 1 2 16 3 1 3 16 Salary Expense   Self dr 2,500 00 2,500 00 2,500 00 2,500 00 2,500 00 sub total Balance 12,500 00 12,500 00 cr cr 4,942 00 108 00 108 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 1,000 00 1,000 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 781 50 535 50 36 00 210 00 7,500 00 150 00 7,350 00 200 00 500 00 700 00 600 00 150 00 75 00 2,225 00 1,328 34 1,202 19 250 00     sub total Balance 7,500 00 7,500 00   Taxes Expense Cash 3 Mar Purchases computers Accounts Payable   Bees Freight in Cash 5 Mar Office Depot Payable Cash 6 Mar Accounts Payable   Bees Purchase Return Freight in Cash 6 Mar interest fee receivable   Belinda Interest Revenue 8 Mar Purchases software Accounts Payable   Barbee 8 Mar interest fee receivable   Angie Interest Revenue 10 Mar Cash Unearned revenue 10 Mar Accounts Payable   Bees Purchase discount Cash 12 Mar Accounts Receivable   Kellie Sales Revenue 14 Mar Accounts Payable   Barbee Purchase Return 15 Mar Accounts Receivable   Angie Sales Revenue 15 Mar Accounts Payable   Barbee Purchase discount Cash 15 Mar Accounts Payable   Furniture Interest Expense Cash 16 Mar Salary Expense   D'Vyne FICA EE Payable FITW Payable SIT Payable cash Salary Expense   Precious FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Blue FICA EE Payable FITW Payable SIT Payable Cash Salary Expense   Self FICA EE Payable FITW Payable SIT Payable Cash 16 Mar Payroll Tax Expense FICA ER Payable FUTA Payable SUI Payable 17 Mar Cash Unearned Revenue 21 Mar Cash Sales Discount Accounts Receivable   Kellie 21 Mar Cash Accounts Receivable   Belinda interest fee receivable   Belinda 25 Mar Cash Unearned travel revenue 29 Mar subcontractor expense subcontrator payable 31 Mar Unearned revenue Sales Revenue 31 Mar Cash subcontrator payable Sales Revenue 31 Mar Depreciation Expense Accum Depr   Demo Computers Depreciation Expense Accu Depre   Building 500 00 3,280 53 3,150 00 3,150 00 625 00 625 00 400 00 400 00 472 50 472 50 175 00 175 00 11 81 11 81 12,000 00 12,000 00 13 50 13 50 450 00 450 00 2,677 50 53 55 2,623 95 22,000 00 22,000 00 4,200 00 4,200 00 16,000 00 16,000 00 7,800 00 156 00 7,644 00 2,083 33 166 67 2,250 00 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 1,500 00 114 75 300 00 60 00 1,025 25 2,500 00 191 25 500 00 100 00 1,708 75 769 50 535 50 24 00 210 00 180 00 180 00 19,800 00 2,200 00 22,000 00 799 31 787 50 11 81 2,000 00 2,000 00 150 00 150 00 450 00 450 00 75 00 150 00 225 00 1,000 00 1,000 00 17,500 00 17,500 00 Depreciation Expense Accu DeprFurniture Insurance Expense Prepaid Insurance FICA EE Payable FICA ER Payable FITW Payable Cash FUTA Payable Cash SIT Payable Cash SUI Payable Cash Advertising Expense Prepaid Advertising 31 Mar Purchases purchase returns purchase discounts purchases 31 Mar costs of goods sold inventory 1,666 67 1,666 67 200 00 200 00 1,071 00 1,071 00 2,800 00 4,942 00 60 00 60 00 560 00 560 00 420 00 420 00 1,666 67 1,666 67 33,486 95 6,247 50 715 55 40,450 00 32,036 95 2,354,653 16 7 Apr Unearned revenue Sales Revenue Cash Sales Revenue 21 Apr cash Accounts Receivable   Angie Late fees collected 32,036 95 2,354,653 16 180 00 180 00 420 00 420 00 927 00 900 00 27 00 Trial Balance Account Title cash Accounts Receivable Inventory Prepaid Insurance Prepaid Advertising Land Building demo computers furniture office supplies Accum Depr   demo computers Accum Depreciation   Furniture Accum Depr   Building accounts payable mortgage payable payroll accounts payable Unearned travel revenue Unearned revenue common stock Additional Paid in Capital   CS Retained Earnings Sales revenue Sales Discount Sales returns interest Revenue Purchases Purchase discount Purchase Returns Freight In 4950 COGS Advertising Expense Depreciation Expense Interest Expense miscellaneous expense insurance expense taxes Expense Payroll Tax Expense subcontractor expense Utilities Expense Salary Expense   Precious Salary Expense   D'Vyne Salary Expense   Blue Salary Expense   Self dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 Adjustments cr dr cr Income Statement dr cr Retained Earnings dr cr Balance Shhet dr 1,314,585 79 18,488 50 1,450 00 1,800 00 4,999 99 50,000 00 350,000 00 18,000 00 60,000 00 1,200 00 cr 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 3,000 00 5,000 01 52,500 00 46,298 34 317,600 60 2,000 00 330 00 1,000,000 00 500,000 00 2,000 00 330 00 1,000,000 00 500,000 00 43,375 00 2,231 50 200 00 43,375 00 2,231 50 200 00 25 31 0 25 31 0 0 0 32,036 95 5,000 01 60,500 01 2,995 01 40 00 1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 32,036 95 5,000 01 60,500 01 2,995 01     1,100 00 1,000 00 3,951 50 150 00 4,450 00 7,500 00 7,500 00 7,500 00 12,500 00 0 0 283 50 Common Stock Sales revenue interest Revenue Purchases Freight In Depreciation Expense 472 50 subcontractor expense Salary Expense   D'Vyne 472 50 472 50 472 50 Salary Expense   Self Accounts Receivable   Belinda date dr cr 2 5 787 50 3 21 787 50 sub total Balance 787 50   787 50 Accounts Receivable   Angie date dr cr 2 7 900 00 3 15 16,000 00 sub total Balance 16,900 00 16,900 00 13 50 13 50 sub total Balance 315 00   315 00 Receivable from Barbee date dr cr 2 1 1,575 00   Interest Receivable   Angie date dr cr 3 8 13 50 sub total Balance Accounts Receivable   Camika date dr cr 1 25 315 00 2 2 315 00 sub total Balance 1,575 00 1,575 00 sub total Balance 11 81   sub total Balance 24,200 00   24,200 00 Accounts Receivable date dr cr 1 25 315 00 2 1 1,575 00 2 2 315 00 2 3 1,000 00 2 5 787 50 2 7 900 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 6 11 81 3 8 13 50 3 21 11 81 3 12 22,000 00 3 15 16,000 00 3 21 22,000 00 3 21 787 50   Interest Receivable   Belinda date dr cr 3 6 11 81 3 21 11 81   Accounts Receivable   Kellie date dr cr 2 3 1,000 00 2 10 1,200 00 2 12 200 00 2 28 1,000 00 3 3 1,000 00 3 12 22,000 00 3 21 22,000 00 11 81 sub total Balance 43,802 81 18,488 50 25,314 31 Accounts Payable   Barbee date dr cr 1 18 3,150 00 1 25 3,150 00 3 8 12,000 00 3 14 4,200 00 3 15 7,800 00 sub total Balance 15,150 00   15,150 00 Accounts Payable   Cees date dr cr 2 9 3,600 00 2 15 3,600 00 sub total Balance date 1 1 2 2 3 2 sub total Balance date 1 18 1 26 2 5 sub total Balance 3,600 00   3,600 00 mortgage payable dr cr 320,000 00 1,197 21 1,202 19 2,399 40 320,000 00 317,600 60 Sales Tax Payable dr cr 15 00 12 50 37 50   65 00  REF  Accounts Payable   Barnes date dr cr 1 18 1,050 00 1 25 1,050 00 2 23 7,500 00 3 1 7,500 00 sub total Balance 8,550 00   8,550 00 subcontrator payable date dr cr 3 29 150 00 3 31 150 00 sub total Balance 150 00   150 00 Accounts Payable   Furniture date dr cr 1 12 50,000 00 2 15 2,083 33 3 15 2,083 33 sub total Balance 4,166 66 50,000 00 45,833 34 Accounts Payable   Bees date dr cr 2 8 10,000 00 2 15 10,000 00 3 3 3,150 00 3 6 472 50 2,677 50 sub total Balance date 1 2 2 5 3 5 13,150 00   13,150 00 office depot payable dr cr 1,200 00 400 00 400 00 sub total Balance 800 00 1,200 00 400 00 Accounts Payable dr date 1 18 1 25 3 8 3 14 3 15 1 18 1 25 2 23 3 1 2 8 2 15 3 3 3 6 2 9 2 15 3 29 3 31 1 2 2 5 3 5 1 12 2 15 3 15 1 18 1 26 2 5 sub total Balance cr 3,150 00 3,150 00 12,000 00 4,200 00 7,800 00 1,050 00 1,050 00 7,500 00 7,500 00 10,000 00 10,000 00 3,150 00 472 50 2,677 50 3,600 00 3,600 00 150 00 150 00 1,200 00 400 00 400 00 50,000 00 2,083 33 2,083 33 45,566 66 15 00 12 50 37 50 91,865 00 46,298 34 person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self person D'Vyne Precious Blue Self $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 16 Jan salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Feb salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Feb salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 1 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 16 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 31 Mar salary 20  Federal 4  State 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 1,500 00 $ 300 00 $ 60 00 2,500 00 $ 500 00 $ 100 00 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 6 2  SS  45  Medicare FICA 1 Total $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 93 00 $ 21 75 $ 114 75 $ 155 00 $ 36 25 $ 191 25 D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self D'Vyne Precious Blue Self YTD GROSS $ 1,500 00 $ 1,500 00 $ 1,500 00 $ 2,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 3,000 00 $ 3,000 00 $ 3,000 00 $ 5,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $ 20 00 YTD GROSS $ 4,500 00 $ 4,500 00 $ 4,500 00 $ 7,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 45 00 $ 12 00 $ 75 00 $   YTD GROSS $ 6,000 00 $ 6,000 00 $ 6,000 00 $ 10,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 45 00 $ 8 00 $ 75 00 $   YTD GROSS $ 7,500 00 $ 7,500 00 $ 7,500 00 $ 12,500 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $   YTD GROSS $ 9,000 00 $ 9,000 00 $ 9,000 00 $ 15,000 00 Employer Taxes 3 SUTA  08  FUTA $ 45 00 $ $ 45 00 $ $ 45 00 $ $ 75 00 $   Payroll Accounts Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 1 16 300 00 1 16 300 00 1 16 300 00 1 16 500 00 1 31 1,400 00 2 1 300 00 2 1 300 00 2 1 300 00 2 1 500 00 2 16 300 00 2 16 300 00 2 16 300 00 2 16 500 00 2 28 2,800 00 3 1 300 00 3 1 300 00 3 1 300 00 3 1 500 00 3 16 300 00 3 16 300 00 3 16 300 00 3 16 500 00 3 31 2,800 00 1 16 60 00 1 16 60 00 1 16 60 00 1 16 100 00 1 31 280 00 2 1 60 00 2 1 60 00 2 1 60 00 2 1 100 00 2 16 60 00 2 16 60 00 2 16 60 00 2 16 100 00 2 28 560 00 3 1 60 00 3 1 60 00 3 1 60 00 3 1 100 00 3 16 60 00 3 16 60 00 3 16 60 00 3 16 100 00 3 31 560 00 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 1 16 56 00 FICA EE Payable date dr cr 1 16 114 75 1 16 114 75 1 16 114 75 1 31 191 25 2 1 535 50 2 1 114 75 2 1 114 75 2 1 114 75 2 16 191 25 2 16 114 75 2 16 114 75 2 16 114 75 2 28 191 25 3 1 1,071 00 3 1 114 75 3 1 114 75 3 1 114 75 3 1 191 25 3 16 114 75 3 16 114 75 3 16 114 75 3 16 191 25 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance FICA ER Payable date dr cr 1 16 535 50 1 31 535 50 2 1 535 50 2 16 535 50 2 28 1,071 00 3 1 535 50 3 16 535 50 3 31 1,071 00 sub total 2,677 50 2,677 50 Balance   date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance FITW Payable dr cr 300 00 300 00 300 00 500 00 1,400 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 300 00 300 00 300 00 500 00 300 00 300 00 300 00 500 00 2,800 00 7,000 00 FUTA Payable dr 7,000 00   cr 56 00 56 00 56 00 52 00 108 00 36 00 24 00 60 00 224 00 224 00   date 1 16 1 16 1 16 1 16 1 31 2 1 2 1 2 1 2 1 2 16 2 16 2 16 2 16 2 28 3 1 3 1 3 1 3 1 3 16 3 16 3 16 3 31 sub total Balance date 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 sub total Balance SIT Payable dr cr 60 00 60 00 60 00 100 00 280 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 60 00 60 00 60 00 100 00 60 00 60 00 60 00 100 00 560 00 1,400 00 SUI Payable dr 1,400 00 cr 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 1,050 00 1,050 00   1 31 2 1 2 16 2 28 3 1 3 16 3 31 1 16 1 31 2 1 2 16 2 28 3 1 3 16 3 31 56 00 56 00 52 00 108 00 36 00 24 00 60 00 210 00 210 00 210 00 210 00 420 00 210 00 210 00 420 00 15,029 00 15,029 00 My original journal entries 31 Mar Purchases 33,486 95 purchase returns 6,247 50 purchase discounts 715 55 purchases 40,450 00 31 Mar costs of goods sold 32,036 95 inventory 32,036 95 I was going to correct my original entries and got confused again  My accounts are out of balance  If I credit Purchases for $33,486 95 it won't come to a zero balance  Am I missing something  Cost of goods sold  Purchases 33486 95 Less Purchase return 6247 5 Less  Purchase discount 715 55 Freight In 950 Cost of goods sold  date 1 18 1 18 2 8 2 9 2 23 3 3 3 8  6963 05 Purchases dr 3,150 0 0 1,050 0 0 10,000  00 3,600 0 0 7,500 0 0 3,150 0 0 12,000  00 27473 9 cr date Purchase discount dr 63 0 1 25 0 21 0 1 25 0 2 15 0 2 15 0 3 1 0 3 10 5 200 0 72 0 150 0 53 5 156 0 3 15 0 40,450 0 0 sub total 40,450  00 cr 715  3 31 55 40,450 0 0 sub total 55 715  715 5 5 Balance date   Purchase Returns dr 2 1 3 6 3 14 3 31 6,247 5 0 cr 1,575 0 0 472 5 0 4,200 0 0 date 3 31   COGS dr 32,036 9 5 cr 6,247 5 0 sub total Balance Balance date 3 31   Inventory dr 33,486 9 5 Balance 33,486 9 5 1,450 0 0 sub total Balance cr 32,036 9 5 3 31 sub total 6,247 5 0 32,036 9 5 32,036 9 5 32,036 9 5

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I have a brand new company with zero beginning inventory using the periodic method. I?m trying to figure out my COGS and the appropriate entries

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