i need

trial balance, Sales journal, cash receipts journal, purchase journal, cash payment journal, general journal, and the general ledger, second trial balance (thank you)

the narrative transaction sheets need to be put in all journals I have listed

Puppy Spa and Supply DESCRIPTION OF THE COMPANY PUPPYSPAAND SUPPLY is a small business owned by Alana Day. Located in Fort Peirce, Florida, it has been operating successfully for several years. The business was originally organized to provide pet daycare services for a working clientele. Currently Ms. Day can accommodate 40-45 dogs. The cost is $18 per day or $75 per week; almost all clients pay on a weekly basis. Clients generally drop off their dogs in the morning and pick them up in the evening, although for an additional fee, a van pickup and delivery service is available. Because this day care is usually completely booked, several clients pay quarterly advance fees to ensure that their pets have a reserved spot. In addition, PUPPYSPAAND SUPPLY also offers pet bathing and grooming. One of the full-time employees is a groomer, and the business has a part-time employee who does pet grooming and whose hours depend on the number of clients requesting bathing and grooming for their dogs. Last year, PUPPY SPA AND SUPPLY began selling a line of specialty all-natural pet food and treats under the "PS&S" brand name. This dogfood has become very popular with daycare clientele, several of the local kennels, and numerous local breeders of show and performance dogs. The business also sells dog accessories such as crates, vitamins, care products, collars, and leashes. Day-care fees, grooming fees, and sales of accessories or dog food to walk-in clientele are usually cash transactions, Sales to kennels and training school are made on account. All sales on account are madeon a 2/10,n/3-basis. You have been employed to maintain the accounting record and prepare financial statements for PUPPY SPA AND SUPPLY. The following transactions are to be analyzed, recorded, and posted. End-of-month procedures are to be completed. PUPPYSPAAND SUPPLY prepares monthly financial statements. Company Information Company Address: 6700 Lakes Parkway Fort Pierce, FL 34981 Telephone: Federal Employer ID: State Employer ID: Form of Business: Florida SUTATax Rate: 727-555-1234 44-852236 45-852263 Sole Proprietorship 4% Fiscal Year: Current Year: January-December 20XX BOOKS OF ACCOUNTS Journals - The following journals are needed: 1. General Journal 2. Sales Journal--this is a modified Sales Journal that includes separate columns for the debit to Accounts Receivable, credit to Store Sales, and credit to Sales Tax Payable, and a single column for the entry to debit Cost of Goods Sold/Credit Merchandise Inventory. 3. Purchases Journal 4. Cash Receipts Journal S. Cash Payments Journal As you enter items in the journals, you should post daily to the accounts receivable and accounts payable subsidiary ledgers. Keep the individual inventory item records updated by posting each inventory transaction to the proper item recorded Post each journal entry from the general journal to the general ledger. Prior to posting from the special journals, total each column and prove the equality of debits and credits. Post all items that need to be posted individually to the general ledger. Rule the special journal and post the totals to the appropriate accounts in the general ledger. Determine the balance of each general ledger account. Ledgers- The following legers are needed: 1. General Ledger 2. Account Receivable Ledger 3. Account Payable ledger 4. Inventory Records In the general ledger, all accounts have been opened and the account balances as of January 1, the beginning of a new fiscal period, have been entered. In the accounts receivable ledger and the accounts payable ledger, all accounts have been opened and all amounts due or owed are shown. Payroll Account Records PUPPY SPA AND SUPPLY uses two records to record the payroll for each semimonthly pay period: 1. Payroll register - This record is used to record the payroll data for each payroll period. Each employee is a line-item entry into the payroll register. 2. Employees" Earning Records - These records are used to maintain a continuous record of the payroll data for each employee for all pay periods during the year. This practice set contains blank payrollregisters and an earning record for each employee. Before processing each payroll, make any changes to employee pay information on the Employees' Earnings Records. Determine each employee's gross pay, federal income tax withholdings, FICA tax, medical insurance deduction, and net pay. Enter the data into the Employees" Earning Records. Transfer the Information from the Employees' Earnings records to the Payroll Register for the period. You will not actually issue payroll checks. From the information in the Payroll Register, prepare a general journal entry to record the total payroll for the pay period. The journal entry should include the following: Salaries Expense (gross wages for salaried employees) Wages Expense (grosswages for hourly employees) Employees' Federal Income Tax Payable FICA Taxes payable (the sum of Social Security and Medicare taxes) Insurance Premiums Payable Payroll Checking Account (net pay) Employer Payroll Taxes. Record the employer's payroll taxes in the general journal. The payroll taxes are the employer's matching Social Security Tax and Medicare Tax, Federal Unemployment Tax (FUTA), and State Unemployment Tax (SUTA). Social Security Tax is 6.2 % of the first $85,000 of annual earning for each employee. Medicare Tax is 1.45% of gross pay for each employee. FUTA is 2.2% of the first $7,000 of annualearning for each employee. Note: You will need to refer to each employee's earning record to determine whether a portion or all of the employee's wages are subject to FUTAtax for each pay period. Do no compute FUTA tax on wages above the $7,000 ceiling. SUTA is 4,0% of the first $7,000 of annual earning foreach employee. o Note: You will need to refer to each employee's earning record to determine whether a portion or all of the employee's wages are subject to SUTA tax for each pay period. Do no compute FUTA tax on wages above the $7,000 ceiling, Beginning Account Balances-------- Included is a trial balance for PUPPY SPA AND SUPPLY as of December 31 Additional Account Information- Regular Checking Account/Payroll Checking Account. All cash disbursements, except the payroll check, are made from the regular account. The payroll account is maintained at $300.00. When the payroll checks are to be issued, a check written on the Regular Checking Account in the amount of the new payroll is deposited in the Payroll Checking Account Accounts Receivable. Included is a Schedule of Accounts Receivable at December 31, Notes Receivable. The note receivable is a 9%,9-month notedated December 31. Interest and principal will be repaid at maturity Merchandise Inventory. Included is a December 31, inventory listing for PUPPY SPA AND SUPPLY. It shows the number of units on hand at December 31, unit cost, total cost, and selling price for each item in inventory. All sales of merchandise will be credited to account 410 Sales-Store Sales and Cost of Goods Sold will be charged to account 510 Cost of Goods Sold Amanual accounting system must have an inventory subsidiary ledger for each item. The December 31 item quantities and amounts have been entered into the inventory subsidiary ledger.PUPPY SPAAND SUPPLY uses a perpetual FIFO inventory system. All entries to record the cost of Goods Sold, Sales Returns and Purchase Returns are to be made in the General Journal Prepaid Insurance. This is 12-month comprehensive property and liability policy purchased for $1,600.00 and provides coverage for the current fiscal year. Plant and Equipment Assets. The building, furniture and future, and office equipment are depreciated using the straight-line method. Asset Life in Years Salvage Value Building 30 $5,000.00 Furniture and Fixtures 10 $400.00 Office Equipment $350.00 5 Accounts Payable. Included is a Schedule of Accounts Payable at December 31. In addition to the balance for each vendor, the schedule also indicated the invoice date, invoice number, and final due date for each vendor Notes Payable. This is a 9-month, 10% note to PSL Trust Company due on June 25. Interest is accrued monthly and payable quarterly, due by the 5 of the month following the end of the quarter. Unearned Day-Care Fees. Prepayments for the first fiscal quarts (13 weeks beginning January 1) day-care fees for 10 dogs at $75.00 per week. Note Payable--Long Term. This is a 9% note to Small Business Bank. Interest is payable monthly on or before the 15 of the month. Sales Tax- Florida sales tax of 6% is applicable to all sales of merchandise. Fees for services are tax exempt EMPLOYEES AND PAYROLL INFORMATION The employees of PUPPY SPA AND SUPPLY are paid semimonthly the 15 for the previous Friday if the 15% is on a weekend) and the last day of each month. Included is an example of an IRS withholding table for semimonthly payroll. Each employee is issued a payroll check from the Payroll checking Account Salaried employees receive a fixed amount of pay for each pay period, regardless of the number of hours worked Salaried employees' gross pay is charged to Salaries Expense. Hourly employees receive time and on-half for any hours worked in excess of 40 hours per week: thus the pay for these employees may vary from pay period to pay period. Hourly employees' gross pay is charged to Wages Expense. Individual payroll information for employees may be located on the Employees' Earning Record Documents, Federal Tax Withholding Deductions Social Security Tax is withheld using the rate of 6.2% on the first $85,000 earned by each employee. Medicare Tax is withheld using the rate of 1.45% on total employee wages. Federal Income Tax to be withheld is determined by locating the appropriate amount in the Tax Table provided, using the marital status and number of allowances designated for each employee State Tax Withholding Deductions- Florida has no state or local income taxes, Medical Insurance Deductions Employees have the option of paying for group medical insurance through payroll deduction Single employees pay a semimonthly deduction of $25.00 if the employee elects medical insurance coverage. Married employees pay a semimonthly deduction of $40.coif the employee elects medical insurance coverage. Changes to Employee Payroll Processing Information- Changes for the January 13th payroll period . None Changes for January 31st payroll period John Beam received a $1.00 per hour pay increase Mel Hughs received a $0.50 per hour pay increase. Bill Garcia's status changes to "Married," and his medical deductions changes to $40.00 per pay period. He requested his federal income tax withholding remain at $176. END-OF-PERIOD REPORTS After all transactions for January have been entered, prepare a trial balance. Review the trial balance and the information provided that pertains to the end-of-month adjustments. Enter and post the necessary adjustments. Total the ending inventory items balances and compare the total with the controlling account in the general ledger. Using the forms and working papers provided, prepare the financial statements and reports indicated below or as specified by your instructor, Schedule of Accounts Receivable Schedule of Accounts Payable Income Summary Statement of Owner's Equity Balance Sheet Post-Closing Trial Balance . . INFORMATION FOR ADJUSTING ENTRIES ADJUSTMENT DESCRIPITON Adjustment No A1 A2 A3 A4 AS Accrue one month's interest on the note receivable. Accrue one month's interest on the $6,000 short-term note payable. Record January depreciation for the plant and equipment assets. Building, furniture and fixtures, and office equipment assets are depreciated using the straight-line method. The van purchased in January will be depreciated using the units-of-activity method, assuming a 50,000-mile life and no salvage value. The van was driven 100 miles in January Counted the office and grooming supplies on hand and determined that $100.00 of office supplies and $75.00 of grooming supplies remain at month end. One month of insurance has expired. One month of the WSVL radio advertisements have aired during January Bad debt expense is estimated to by % % 0.005) of net credit sales for the month. (Use January gross sales on account before sales taxes-less January sales returns and allowances and less January sales discounts as the basis.) Record four weeks of Unearned Day Care Fees for 10 dogs as earned in January Adjust day care feed received for the week of January 30-February 3. Three days will be earned in February Employer's Payroll Tax Expense is $1,825.12. Record FICA, Medicare, FUTA, and SUTA liabilities per instructions above, A6 A7 A8 A9 A10 If directed by your instructor, after preparing financial statements and reports, record and post the closing entries and prepare a post-closing trial balance indicate closed account by inserting a horizontal line in both balance columns The Regular Checking Account balance on January 31 should by $11.398.28. PUPPY SPA AND SUPPLY Account ID 100 102 103 111 112 114 120 141 142 147 151 152 153 154 155 156 157 210 215 220 231 233 234 235 237 238 270 311 General Ledger Trial Balance December 31, 200X Account Description Petty Cash Cash Payroll Checking Account Account Receivable Allowance for Doubtful Accounts Notes Receivable Merchandise Inventory Grooming and Care Supplies Office Supplies Prepaid Insurance Land Buildings Accumulated Depreciation --Building Furniture and Fixtures Accumulated Depreciation - Furniture/Fixtures Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Interest Payable Notes Payable--Current Sales Tax Payable Employees' Federal Income Tax Payable FICA Tax Payable FUTA Tax Payable SUTA Tax Payable Unearned Day-Care Fees Notes Payable--Long Term Alana Day, Capital Total Debit Amount Credit Amount 200.00 21,422.83 300.00 6,415.00 300.00 2,000.00 6,974.30 315.00 150.00 1,600.00 25,000.00 77,000.00 15,000.00 9,000.00 3,800.00 7,400.00 3,106.00 5,329.00 150.00 6,000.00 682.00 1,636.00 1,981.12 255.33 867.68 9,750.00 15,000.00 93,919.50 157.777.13 157.777.13 PUPPY SPA AND SUPPLY Schedule of Account Receivable December 31, 200X Customer Name Able Kennel & Training Byron's School for Pets Cowan Dog Training School Dogs Delight Training Academy Ken's Kennels Pampered Pups Kennels Total Accounts Receivable Invoice Date 12/12/200x 12/14/200X 12/20/200X 12/16/200x 12/20/200X 12/21/200X Involce No. 198 200 209 204 Balance $1,460.00 599.00 1,550.00 1.743.00 653.00 450.00 $6,415.00 208 211 PUPPY SPA AND SUPPLY Inventory List December 21, 200X Item Item Description ID 101A Dog Crate-Small 101B Dog Crate-Medium 101C Dog Crate-Large 150A 4 Paws Dog Bed-Small 1508 4 Paws Dog Bed-Medium 150C 4 Paws Dog Bed-Large 180A Sweater Coat-S,M,L 210A All Weather Dog House 220A Ceramic Food Dish-Small 2208 Ceramic Food Dish-Large 220C Stainless Steel Food Dish 230A Bright Pet Toothpaste 2308 Healthy Pet Vitamins 230C Coat Glow Vitamins 230D Puppy Coat Shampoo 230E Ridda Flea Shampoo Supersoft Ultra Shampoo 240A Ridda Flea Collar 250A Shhh Hair Clippers 250B Quickfix Pin Brush 250C Quickfix Style Brush 260A Borders Grooming Table 310A Blue Nylon Leash 310B Brown Leather Lead 320A Blur Nylon Collar 3208 Brown Leather Collar 320C Best Training Collar 410A Rawhide Chews 410B PS&S Biscuits 610A Funtime Tug Toy 6108 Flying Toss Toy 610C Playball 710A PS&S Kibble Dry Dog Food 710B PS&S Brand Canned Dog Food 7100 PS&S Crunch Bites 710D PS&S Brand Training Treats Unit of Measure Each Each Each Each Each Each Each Each Each Each Each Each Bottle Each Each Each Each Each Each Each Each Each Each Each Each Each Each Package Box Each Each Each Pound Can Pound Pound 230F Costing Method FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO Quantity on Hand 19 8 7 4 5 4 5 5 33 14 41 23 22 19 42 43 36 21 Unit Total cost Cost 26.00 494.00 51.00 408.00 80.65 564.55 7.13 28.52 13.00 65.00 27.70 98.80 2.20 11.00 45.50 227.50 4.06 133.98 0.98 13.72 3.15 129.15 1.63 37.49 6.00 132.00 4.58 87.02 4.80 201.60 5.40 232.20 9.00 324.00 2.34 49.14 78.00 936.00 2.02 42.42 4.95 69.30 88.40 176.80 3.52 88.00 8.65 86.50 1.50 15.00 14.00 238.00 6.50 91.00 2.79 209.25 4.37 874.00 3.95 98.75 9.75 146.25 2.00 34.00 0.64 191.36 0.50 50.00 0.50 150.00 1.20 240.00 6.97430 Sales Price 43.94 85.00 134.00 11.00 20.00 38.00 5.50 65.00 5.80 1.50 4.85 2.50 12.00 9.15 8.00 9.00 15.00 4.68 125.00 3.10 7.62 136.00 5.10 13.50 2.36 25.00 10.00 3.99 6.25 6.09 15.00 3.00 1.15 0.75 0.75 3.00 CIR 14 2 25 10 10 17 14 75 200 25 15 17 299 100 300 200 PUPPY SPA AND SUPPLY Schedule of Accounts Payable December 31, 200X Vendor Balance Terms In-Closures, Inc. Tim's Janitorial Co. Beltware, Inc. GA Management Systems, Inc. Basic Feed, Inc. Jason Animal Supplies Total Accounts Payable Invoice Date 12/22/OX 12/31/OX 12/23/OX 12/31/OX 12/28/OX 12/21/OX Invoice No. 1952 1234 1133 1455 08063 1600 $236.00 2% 10, net 30 days 663.00 Net 15 days 124.00 2% 10, net 30 days 743.00 Net 10 days 1,900.00 2% 10, net 30 days 1,663.00 2% 10, net 30 days $5,329.00 Due Date 1/21 1/15 1/22 1/10 1/27 1/20 Puppy Spa and Supply Narrative of Transactions Record the following transactions in the appropriate journals. January 2 Issued Check #12401 to Beltware Inc. in payment of invoice 1133 (Note: Calcube and take the discount, discounts should be charged to Account 550-Purchase Discounts) 2 January 2 Sold Merchandise on account to Pampered Pups Kennels, Invoice #214, terms 2/10,n/30 200 lbs. PS&S Kibble Dry Dog Food 75 cans PS&S Crunch Bites 12 bottles Healthy Pet Vitamins 6 Stainless Steel Food Dishes Sales Tax, $34.31 3 January 2 Received payment in full, if applicable, on Invoice #200 from Bryon's School for Pets, Customer Check #2254 (Note: No discount is available on this transaction since the discount dote has passed.) 4 January 2 Purchased a used van from Award Autos to be used for pickup and delivery service in the amount of $16,200.00 Paid $6,000 cash, issued check #2402, and signed a 24-month, 8% not for the balance of $10,200.00 Monthly payments on the note are due on the 25 of each month in the amount of $461.32. (Hint: You will need to record this transaction suing three entries, Record the purchase of the van in the Purchases Journal with a credit to Accounts Payable Record the down payment in the Cash Payments Journal. Transfer the balance owed from the Accounts Payable account to the Notes Payable account with a general journalentry. 5 January 3 Received payment in fullfrom Able Kennel & Training for invoice #198, Customer Check #559. (Note: No discount is available on this transactions ince the discount date has passed.) 6 January 3 Recorded deposit of fees received for day care for the week of January 206, 30 dogs@ $75.00 per week. (Note: Soles of services are not subject to Florida soles tax) 7 January 3 Received Involce 1010, dated January 2, in the amount of $373.50 from Basic Feeds, Inc, terms 2/10, 1/30, for the following merchandise. 200 lbs. PS&S Kibble Dry Dog Food @ $0.64 per ib. $128.00 46 cans of PS&S Brand Canned Dog Food @ $0.50 per can, $23.00 375 lbs. PSRS Crunchy Bites @ $0.50 per ib., $187.50 Freight Charges, $35.00 (Note: Charge to Cost of Sales --Freight) 11 8 January 4 Sold merchandise on account to Bryon's School for Pets, Invoice #215, terms 2/10, 1/30 15 Blue Nylon Leashes S Blue Nylon Collars 6.692 gaug 9 January 4 10 January 5 11 January 5 12 January 5 13 January 6 50 lbs. PS&S Brand Training Treats Sales Tax, $20.30 Issued Check #2403 in the amount of $150.00 to PSL Trust Co.(11117"Street, Port Saint Lucie, FL 34592) in payment of accrued interest on the $6,000.00 short-term note payable issued Credit Memo#55 to Pampered Pups Kennels for Merchandise returned on Invoice #2 14 of January 2. The total amount is $33.39, which includes Florida sales tax of $1.89. The items returned were as follows: 10 cans PS&S Brand Canned Dog Food 2 bottles Healthy Pet Vitamins (Note: Remember to return goods to Inventory and credit the Cost of Goods Sold account) Issued Check #2404 in the amount of $634.00 to WSVL Radio for advertisements to air during the months of January and February. (Note: Charge to prepaid advertising.) Increased the petty cash fund to $250.00 to provide for increasing miscellaneous office expenses by issuing Check #2405 in the amount of $50.00 to A. Day, Petty Cash. Sold merchandise on account to Able Kennel & Training, Invoice #216, terms 2/10,n/30 100 lbs. PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunchy Bites 25 bottles Supersoft Ultra Shampoo 1 Shhh Hair Clippers Sales Tax, $48.69 Cash sales of merchandise for January 206. (Note: all product sales are subject to 6% Florida sales tax.) 5 Sweater coats-S,M,L 2 All Weather Dog Houses 6 bottles Puppy Coat Shampoo 12 Flying Toss Toys 5 Dog Crates-Small 275 lbs. PS&S Crunchy Bites Sales Tax, $48.69 Issued Check #2406,9194.20, to The Office Shack for office supplies. Recorded deposit of grooming fees for January 2-6;25 dogs groomed @ $40.00 each. Recorded deposit offees received for day care for the week of January 9-13,33 dogs@ $75.00 each. 14 January 6 16 16 January 9 January 9 17 January 10 24h 18 January 10 19 January 11 20 January 11 21 January 12 22 January 12 Received Invoice 7561, dated January 9, in the amount of $198.40from GA Management Systems, Inc., terms /10, for the following merchandise: 15 lbs. PS&S Brand Training Treats @ $1.20 per lb., $18.00 20 Blue Nylon Leashes @ $3.52 each, 570.40 25 Blue Nylon Collars @ $1.50 each, $37.50 10 Best Training Collars @ $6.50 each, $65.00 Freight Charges, $7.50 Received a check in the amount of $55.00 from The Office Shack for return of office supplies purchased for cash on January 9. Received Invoice 1401, dated January 10 in the amount of $345.50 from Basic Feeds, Inc., terms 2/10, 1/30, for the following merchandise: 200 lbs. PS&S Kibble Dry Dog Food @ $0.64 perib.. $128.00 30 cans PS&S Brand Canned Dog Food @ $0.50 per can, $15.00 375 lbs. PS&S Crunchy Bites @ $0.50 per lb.. $187.50 Freight Charges, $15.00 Donated $50.00 of grooming supplies to 2 Chance, a charitable organization for the care and training of abandoned dogs. (Hint: this transaction does not affect cash) Received Credit Memo#334, dated January 11, in the amount of $65.10 from GA Management Systems, Inc., for the return of the following merchandise billed on Invoice 7561, dated January 9. (Hint: no portion of the freight charges are reimbursed with the return.) 5 Blue Nylon Leashes @ $3.52 each, $17.60 10 Blue Nylon Collars @ $1.50 each, $15.00 510 Best Training Collars @ $6.50 each, $32.50 Sold Merchandise on account to Ken's Kennels, Invoice #217, terms 2/10,n/30. 100 PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunch Bites 12 bottle Ridda Flea Shampoo Sales Tax, $16.76 Sold Merchandise on account to Dogs Delight Training Academy, Invoice #218, terms 2/10, n/30 30 lbs. PS&S Brand Training Treats 6 Best Training Collars 3 Dog Creates - Medium Sales Tax $24.30 Received payment in full less the discount form Pampered Pups Kennels on Invoice #214, Customer Check #8812.(Hint: Remember to apply Credit Memo #55 and base the discount on the reduced amount due. Do not take discounton Sales Tox) 23 January 12 24 January 12 25 January 12 26 January 12 Issued Check 2407 to Basic Feeds Inc. in payment of invoice 1010. (Hint: Take the discount on the goods but no on the freight.) 27 January 13 28 January 13 29 January 13 30 January 13 31 January 13 Cash sales of merchandise for January 9-13. (All product sales subject to sales tax) 10 Ceramic Food dishes -Small 8 Coat Glow Vitamins 2 Borders Grooming Tables 5 PlayBalls 8 Ridda Flea Collars 200 lbs. PS&S Kibble Dry Dog Food 25 Boxes PS&S Biscuits Sales Tax, $47.93 Issued check #2408 in the amount of $3,617.12 to the Federal Reserve Bank of Vero (14 Main Street, Vero FL, 34622) In payment of withheld FICA, federalincome tax, and employer's FICA for last December. (Hint: Refer to the December 31 trial balance for amount in each account.) Issued check #2409 in the amount of$255.33 to the Federal Reserve Bank of Vero in payment of FUTA taxes accrued during the period ending December 31. Issued check #2410 in the amount of $867.68 to collection Department, Florida Treasurer's Office (263 25St. Ft. Pierce, FL 34981) in payment of SUTAtaxes accrued during the period ending December 31. Issued Check #2411 to Tim's Janitorial co. in the amount of $663.00, payment of Invoice 1234, balance due for December services. (Note: This invoice was recorded in December.) Received a partial payment of $100.00 on Invoice #215 from Bryon's School for Pets, Customer check #1552 Received a partial payment of $1000.00 on Invoice #204 from Dogs Delight Training Academy, Customer check #01145. Issued Check #2412 to Small Business Bank for monthly interest on the $15,000 long- term note. Issued semimonthly payroll checks number 203-208 to employees Susan Evans, salaried John Beam, 80 regular hours and 2 overtime hours worked Sylvia Train, 80 regular hours worked Quon Long, 48 regular hours worked Mel Hough, 80 regular hours and 8 overtime hours worked (Note: Prepare the payroll and journalentries, but you do not have to write out paychecks.) Issued Check #213 in the amount of the total net payroll checks issued to employees for deposit in the Payroll Checking Account Recorded deposits of grooming fees for January 9-13,35 dogs groomed @40.00 each. 32 January 13 33 January 13 34 January 13 35 January 13 36 January 13 37 January 16 38 January 16 39 January 16 40 41 January 16 January 17 42 January 17 43 January 17 Sold Merchandise on account to Crowns Dog Training School, Invoice #219, terms 2/10, n/30 25 lbs. PS&S Brand Training Treats 10 Brown Leather Leads 12 Brown Leather collars 10 Funtime Tug Toys 25 boxes of PS&S Biscuits Sales Tax $43.6. Received payment in full less discount from Able Kennel & Training for invoice #216, Customer Check #5336 (Hint: Do not take discount on Sales Tax) Issued Check #2414 in the amount of $650.00 to Alana Day for personal use. Recorded deposit of fees received for day care for the week of January 16-20, 34 @ 75.00 per week Received Invoice 2330, dated January 16, in the amount of $512.95 from in Closures, Inc., terms 2/10,n/30, for the following merchandise. 3 Dog Crates-Small @26.00 each, $78.00 3 Dog Crates-Medium @51.00 each, $153.00 3 Dog Crates-Large@80.65 each, $241.95 Freight Charges, $40.00 Received payment in full on Invoice #208 from Ken's Kennels, Customer Check #10721. Issued Check #2415 in the amount of $225.00 to The Kennel Blue for a two- page advertisement to be placed in the March show catalog. Issued Check #2416 to GA Management Systems Inc., in payment of Invoice 1455 Received payment in full from Cowan Dog Training School for Invoice #209, Customer Check #3333 Sold merchandise on account to Able Kennel & Training, Invoice #220, terms 2/10,n/30. 75 lbs, PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunchy Bites 20 can PS&S Brand Canned Dog Food 3 QuickFix Pin Brushes Sales Tax, $10.01 Issued Credit Memo#56 in the amount of $204.05 to Cowan dog Training School for merchandise returned on Invoice 219 of January 16. 5 Brown Leather Leads 5 Brown Leather Collars The amount includes Florida sales tax of $11.55.(Remember to adjust inventory and Cost of Goods Sold.) Issued Check #2417 to in-Closures, Inc., in payment of Invoice 1952. 44 January 17 45 January 18 46 January 18 47 January 18 48 January 19 49 January 19 24h 50 January 19 51 January 19 52 January 19 53 January 19 Received Invoice 1482, dated January 18 in the amount of $318.50from Basic Feeds, Inc., terms 2/10, n/30, for the following merchandise: 275 lbs. PS&S Kibble Dry Dog Food @ $0.64 per lb., $176.00 35 cans PS&S Brand Canned Dog Food @ $0.50 per can, $17.50 200 lbs. PS&S Crunchy Bites @ $0.50 per lb., $100.00 Freight Charges, $25.00 Sold merchandise on account to Pampered Pups Kennels, Invoice #221, terms 2/10, 1/30 100 lbs. PS&S Kibble Dry Dog Food 100 lbs. PS&S Crunchy Bites 24 can PS&S Brand Canned Dog Food Sales Tax, $12.48 Sold Merchandise on account to Dogs Delight Training Academy, Invoice #218, terms 2/10,n/30 3 Dog Crates --Small 3 Dog Crates-Medium 3 Dog Crates-Large 12 Blue Nylon Leashed 6 boxes PS&S Biscuits Sales Tax, $53.32 Received payment in full on Invoice #211 from Pampered Pups Kennels, Customer Check #8890 Issued check #2418 to GA Management Systems, Inc., in payment of Invoice 7561. (Note: Be sure to apply Credit Memorandum to #344 to reduce that amountowed) Cash sales of merchandise for January 16-20. (All product sales subject to sales tax) 30 cans of PS&S Brand dog food 150 lbs. PS&S Crunchy Bites 2,4 Pays Dog Beds-Small 10 bottles Supersoft Ultra Shampoo 14 pkgs. Rawhide Chews Sales Tax, $21.77 Received balance owed on Invoice #204 and payment in full less the discount on Invoice #218 from dogs Delight Training Academy, Customer Check #01192. Received Credit memo#144, dated January 19, in the amount of $106.65 from In-Closures, Inc., for the return of the following merchandise bill on Invoice 2330, dated January 16. 1 Dog Crates--Small @26.00 each 1 Dog Crates--Large @ 80.65 each 54 January 20 55 January 20 56 January 20 57 January 20 Puppy Spa and Supply DESCRIPTION OF THE COMPANY PUPPYSPAAND SUPPLY is a small business owned by Alana Day. Located in Fort Peirce, Florida, it has been operating successfully for several years. The business was originally organized to provide pet daycare services for a working clientele. Currently Ms. Day can accommodate 40-45 dogs. The cost is $18 per day or $75 per week; almost all clients pay on a weekly basis. Clients generally drop off their dogs in the morning and pick them up in the evening, although for an additional fee, a van pickup and delivery service is available. Because this day care is usually completely booked, several clients pay quarterly advance fees to ensure that their pets have a reserved spot. In addition, PUPPYSPAAND SUPPLY also offers pet bathing and grooming. One of the full-time employees is a groomer, and the business has a part-time employee who does pet grooming and whose hours depend on the number of clients requesting bathing and grooming for their dogs. Last year, PUPPY SPA AND SUPPLY began selling a line of specialty all-natural pet food and treats under the "PS&S" brand name. This dogfood has become very popular with daycare clientele, several of the local kennels, and numerous local breeders of show and performance dogs. The business also sells dog accessories such as crates, vitamins, care products, collars, and leashes. Day-care fees, grooming fees, and sales of accessories or dog food to walk-in clientele are usually cash transactions, Sales to kennels and training school are made on account. All sales on account are madeon a 2/10,n/3-basis. You have been employed to maintain the accounting record and prepare financial statements for PUPPY SPA AND SUPPLY. The following transactions are to be analyzed, recorded, and posted. End-of-month procedures are to be completed. PUPPYSPAAND SUPPLY prepares monthly financial statements. Company Information Company Address: 6700 Lakes Parkway Fort Pierce, FL 34981 Telephone: Federal Employer ID: State Employer ID: Form of Business: Florida SUTATax Rate: 727-555-1234 44-852236 45-852263 Sole Proprietorship 4% Fiscal Year: Current Year: January-December 20XX BOOKS OF ACCOUNTS Journals - The following journals are needed: 1. General Journal 2. Sales Journal--this is a modified Sales Journal that includes separate columns for the debit to Accounts Receivable, credit to Store Sales, and credit to Sales Tax Payable, and a single column for the entry to debit Cost of Goods Sold/Credit Merchandise Inventory. 3. Purchases Journal 4. Cash Receipts Journal S. Cash Payments Journal As you enter items in the journals, you should post daily to the accounts receivable and accounts payable subsidiary ledgers. Keep the individual inventory item records updated by posting each inventory transaction to the proper item recorded Post each journal entry from the general journal to the general ledger. Prior to posting from the special journals, total each column and prove the equality of debits and credits. Post all items that need to be posted individually to the general ledger. Rule the special journal and post the totals to the appropriate accounts in the general ledger. Determine the balance of each general ledger account. Ledgers- The following legers are needed: 1. General Ledger 2. Account Receivable Ledger 3. Account Payable ledger 4. Inventory Records In the general ledger, all accounts have been opened and the account balances as of January 1, the beginning of a new fiscal period, have been entered. In the accounts receivable ledger and the accounts payable ledger, all accounts have been opened and all amounts due or owed are shown. Payroll Account Records PUPPY SPA AND SUPPLY uses two records to record the payroll for each semimonthly pay period: 1. Payroll register - This record is used to record the payroll data for each payroll period. Each employee is a line-item entry into the payroll register. 2. Employees" Earning Records - These records are used to maintain a continuous record of the payroll data for each employee for all pay periods during the year. This practice set contains blank payrollregisters and an earning record for each employee. Before processing each payroll, make any changes to employee pay information on the Employees' Earnings Records. Determine each employee's gross pay, federal income tax withholdings, FICA tax, medical insurance deduction, and net pay. Enter the data into the Employees" Earning Records. Transfer the Information from the Employees' Earnings records to the Payroll Register for the period. You will not actually issue payroll checks. From the information in the Payroll Register, prepare a general journal entry to record the total payroll for the pay period. The journal entry should include the following: Salaries Expense (gross wages for salaried employees) Wages Expense (grosswages for hourly employees) Employees' Federal Income Tax Payable FICA Taxes payable (the sum of Social Security and Medicare taxes) Insurance Premiums Payable Payroll Checking Account (net pay) Employer Payroll Taxes. Record the employer's payroll taxes in the general journal. The payroll taxes are the employer's matching Social Security Tax and Medicare Tax, Federal Unemployment Tax (FUTA), and State Unemployment Tax (SUTA). Social Security Tax is 6.2 % of the first $85,000 of annual earning for each employee. Medicare Tax is 1.45% of gross pay for each employee. FUTA is 2.2% of the first $7,000 of annualearning for each employee. Note: You will need to refer to each employee's earning record to determine whether a portion or all of the employee's wages are subject to FUTAtax for each pay period. Do no compute FUTA tax on wages above the $7,000 ceiling. SUTA is 4,0% of the first $7,000 of annual earning foreach employee. o Note: You will need to refer to each employee's earning record to determine whether a portion or all of the employee's wages are subject to SUTA tax for each pay period. Do no compute FUTA tax on wages above the $7,000 ceiling, Beginning Account Balances-------- Included is a trial balance for PUPPY SPA AND SUPPLY as of December 31 Additional Account Information- Regular Checking Account/Payroll Checking Account. All cash disbursements, except the payroll check, are made from the regular account. The payroll account is maintained at $300.00. When the payroll checks are to be issued, a check written on the Regular Checking Account in the amount of the new payroll is deposited in the Payroll Checking Account Accounts Receivable. Included is a Schedule of Accounts Receivable at December 31, Notes Receivable. The note receivable is a 9%,9-month notedated December 31. Interest and principal will be repaid at maturity Merchandise Inventory. Included is a December 31, inventory listing for PUPPY SPA AND SUPPLY. It shows the number of units on hand at December 31, unit cost, total cost, and selling price for each item in inventory. All sales of merchandise will be credited to account 410 Sales-Store Sales and Cost of Goods Sold will be charged to account 510 Cost of Goods Sold Amanual accounting system must have an inventory subsidiary ledger for each item. The December 31 item quantities and amounts have been entered into the inventory subsidiary ledger.PUPPY SPAAND SUPPLY uses a perpetual FIFO inventory system. All entries to record the cost of Goods Sold, Sales Returns and Purchase Returns are to be made in the General Journal Prepaid Insurance. This is 12-month comprehensive property and liability policy purchased for $1,600.00 and provides coverage for the current fiscal year. Plant and Equipment Assets. The building, furniture and future, and office equipment are depreciated using the straight-line method. Asset Life in Years Salvage Value Building 30 $5,000.00 Furniture and Fixtures 10 $400.00 Office Equipment $350.00 5 Accounts Payable. Included is a Schedule of Accounts Payable at December 31. In addition to the balance for each vendor, the schedule also indicated the invoice date, invoice number, and final due date for each vendor Notes Payable. This is a 9-month, 10% note to PSL Trust Company due on June 25. Interest is accrued monthly and payable quarterly, due by the 5 of the month following the end of the quarter. Unearned Day-Care Fees. Prepayments for the first fiscal quarts (13 weeks beginning January 1) day-care fees for 10 dogs at $75.00 per week. Note Payable--Long Term. This is a 9% note to Small Business Bank. Interest is payable monthly on or before the 15 of the month. Sales Tax- Florida sales tax of 6% is applicable to all sales of merchandise. Fees for services are tax exempt EMPLOYEES AND PAYROLL INFORMATION The employees of PUPPY SPA AND SUPPLY are paid semimonthly the 15 for the previous Friday if the 15% is on a weekend) and the last day of each month. Included is an example of an IRS withholding table for semimonthly payroll. Each employee is issued a payroll check from the Payroll checking Account Salaried employees receive a fixed amount of pay for each pay period, regardless of the number of hours worked Salaried employees' gross pay is charged to Salaries Expense. Hourly employees receive time and on-half for any hours worked in excess of 40 hours per week: thus the pay for these employees may vary from pay period to pay period. Hourly employees' gross pay is charged to Wages Expense. Individual payroll information for employees may be located on the Employees' Earning Record Documents, Federal Tax Withholding Deductions Social Security Tax is withheld using the rate of 6.2% on the first $85,000 earned by each employee. Medicare Tax is withheld using the rate of 1.45% on total employee wages. Federal Income Tax to be withheld is determined by locating the appropriate amount in the Tax Table provided, using the marital status and number of allowances designated for each employee State Tax Withholding Deductions- Florida has no state or local income taxes, Medical Insurance Deductions Employees have the option of paying for group medical insurance through payroll deduction Single employees pay a semimonthly deduction of $25.00 if the employee elects medical insurance coverage. Married employees pay a semimonthly deduction of $40.coif the employee elects medical insurance coverage. Changes to Employee Payroll Processing Information- Changes for the January 13th payroll period . None Changes for January 31st payroll period John Beam received a $1.00 per hour pay increase Mel Hughs received a $0.50 per hour pay increase. Bill Garcia's status changes to "Married," and his medical deductions changes to $40.00 per pay period. He requested his federal income tax withholding remain at $176. END-OF-PERIOD REPORTS After all transactions for January have been entered, prepare a trial balance. Review the trial balance and the information provided that pertains to the end-of-month adjustments. Enter and post the necessary adjustments. Total the ending inventory items balances and compare the total with the controlling account in the general ledger. Using the forms and working papers provided, prepare the financial statements and reports indicated below or as specified by your instructor, Schedule of Accounts Receivable Schedule of Accounts Payable Income Summary Statement of Owner's Equity Balance Sheet Post-Closing Trial Balance . . INFORMATION FOR ADJUSTING ENTRIES ADJUSTMENT DESCRIPITON Adjustment No A1 A2 A3 A4 AS Accrue one month's interest on the note receivable. Accrue one month's interest on the $6,000 short-term note payable. Record January depreciation for the plant and equipment assets. Building, furniture and fixtures, and office equipment assets are depreciated using the straight-line method. The van purchased in January will be depreciated using the units-of-activity method, assuming a 50,000-mile life and no salvage value. The van was driven 100 miles in January Counted the office and grooming supplies on hand and determined that $100.00 of office supplies and $75.00 of grooming supplies remain at month end. One month of insurance has expired. One month of the WSVL radio advertisements have aired during January Bad debt expense is estimated to by % % 0.005) of net credit sales for the month. (Use January gross sales on account before sales taxes-less January sales returns and allowances and less January sales discounts as the basis.) Record four weeks of Unearned Day Care Fees for 10 dogs as earned in January Adjust day care feed received for the week of January 30-February 3. Three days will be earned in February Employer's Payroll Tax Expense is $1,825.12. Record FICA, Medicare, FUTA, and SUTA liabilities per instructions above, A6 A7 A8 A9 A10 If directed by your instructor, after preparing financial statements and reports, record and post the closing entries and prepare a post-closing trial balance indicate closed account by inserting a horizontal line in both balance columns The Regular Checking Account balance on January 31 should by $11.398.28. PUPPY SPA AND SUPPLY Account ID 100 102 103 111 112 114 120 141 142 147 151 152 153 154 155 156 157 210 215 220 231 233 234 235 237 238 270 311 General Ledger Trial Balance December 31, 200X Account Description Petty Cash Cash Payroll Checking Account Account Receivable Allowance for Doubtful Accounts Notes Receivable Merchandise Inventory Grooming and Care Supplies Office Supplies Prepaid Insurance Land Buildings Accumulated Depreciation --Building Furniture and Fixtures Accumulated Depreciation - Furniture/Fixtures Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Interest Payable Notes Payable--Current Sales Tax Payable Employees' Federal Income Tax Payable FICA Tax Payable FUTA Tax Payable SUTA Tax Payable Unearned Day-Care Fees Notes Payable--Long Term Alana Day, Capital Total Debit Amount Credit Amount 200.00 21,422.83 300.00 6,415.00 300.00 2,000.00 6,974.30 315.00 150.00 1,600.00 25,000.00 77,000.00 15,000.00 9,000.00 3,800.00 7,400.00 3,106.00 5,329.00 150.00 6,000.00 682.00 1,636.00 1,981.12 255.33 867.68 9,750.00 15,000.00 93,919.50 157.777.13 157.777.13 PUPPY SPA AND SUPPLY Schedule of Account Receivable December 31, 200X Customer Name Able Kennel & Training Byron's School for Pets Cowan Dog Training School Dogs Delight Training Academy Ken's Kennels Pampered Pups Kennels Total Accounts Receivable Invoice Date 12/12/200x 12/14/200X 12/20/200X 12/16/200x 12/20/200X 12/21/200X Involce No. 198 200 209 204 Balance $1,460.00 599.00 1,550.00 1.743.00 653.00 450.00 $6,415.00 208 211 PUPPY SPA AND SUPPLY Inventory List December 21, 200X Item Item Description ID 101A Dog Crate-Small 101B Dog Crate-Medium 101C Dog Crate-Large 150A 4 Paws Dog Bed-Small 1508 4 Paws Dog Bed-Medium 150C 4 Paws Dog Bed-Large 180A Sweater Coat-S,M,L 210A All Weather Dog House 220A Ceramic Food Dish-Small 2208 Ceramic Food Dish-Large 220C Stainless Steel Food Dish 230A Bright Pet Toothpaste 2308 Healthy Pet Vitamins 230C Coat Glow Vitamins 230D Puppy Coat Shampoo 230E Ridda Flea Shampoo Supersoft Ultra Shampoo 240A Ridda Flea Collar 250A Shhh Hair Clippers 250B Quickfix Pin Brush 250C Quickfix Style Brush 260A Borders Grooming Table 310A Blue Nylon Leash 310B Brown Leather Lead 320A Blur Nylon Collar 3208 Brown Leather Collar 320C Best Training Collar 410A Rawhide Chews 410B PS&S Biscuits 610A Funtime Tug Toy 6108 Flying Toss Toy 610C Playball 710A PS&S Kibble Dry Dog Food 710B PS&S Brand Canned Dog Food 7100 PS&S Crunch Bites 710D PS&S Brand Training Treats Unit of Measure Each Each Each Each Each Each Each Each Each Each Each Each Bottle Each Each Each Each Each Each Each Each Each Each Each Each Each Each Package Box Each Each Each Pound Can Pound Pound 230F Costing Method FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO Quantity on Hand 19 8 7 4 5 4 5 5 33 14 41 23 22 19 42 43 36 21 Unit Total cost Cost 26.00 494.00 51.00 408.00 80.65 564.55 7.13 28.52 13.00 65.00 27.70 98.80 2.20 11.00 45.50 227.50 4.06 133.98 0.98 13.72 3.15 129.15 1.63 37.49 6.00 132.00 4.58 87.02 4.80 201.60 5.40 232.20 9.00 324.00 2.34 49.14 78.00 936.00 2.02 42.42 4.95 69.30 88.40 176.80 3.52 88.00 8.65 86.50 1.50 15.00 14.00 238.00 6.50 91.00 2.79 209.25 4.37 874.00 3.95 98.75 9.75 146.25 2.00 34.00 0.64 191.36 0.50 50.00 0.50 150.00 1.20 240.00 6.97430 Sales Price 43.94 85.00 134.00 11.00 20.00 38.00 5.50 65.00 5.80 1.50 4.85 2.50 12.00 9.15 8.00 9.00 15.00 4.68 125.00 3.10 7.62 136.00 5.10 13.50 2.36 25.00 10.00 3.99 6.25 6.09 15.00 3.00 1.15 0.75 0.75 3.00 CIR 14 2 25 10 10 17 14 75 200 25 15 17 299 100 300 200 PUPPY SPA AND SUPPLY Schedule of Accounts Payable December 31, 200X Vendor Balance Terms In-Closures, Inc. Tim's Janitorial Co. Beltware, Inc. GA Management Systems, Inc. Basic Feed, Inc. Jason Animal Supplies Total Accounts Payable Invoice Date 12/22/OX 12/31/OX 12/23/OX 12/31/OX 12/28/OX 12/21/OX Invoice No. 1952 1234 1133 1455 08063 1600 $236.00 2% 10, net 30 days 663.00 Net 15 days 124.00 2% 10, net 30 days 743.00 Net 10 days 1,900.00 2% 10, net 30 days 1,663.00 2% 10, net 30 days $5,329.00 Due Date 1/21 1/15 1/22 1/10 1/27 1/20 Puppy Spa and Supply Narrative of Transactions Record the following transactions in the appropriate journals. January 2 Issued Check #12401 to Beltware Inc. in payment of invoice 1133 (Note: Calcube and take the discount, discounts should be charged to Account 550-Purchase Discounts) 2 January 2 Sold Merchandise on account to Pampered Pups Kennels, Invoice #214, terms 2/10,n/30 200 lbs. PS&S Kibble Dry Dog Food 75 cans PS&S Crunch Bites 12 bottles Healthy Pet Vitamins 6 Stainless Steel Food Dishes Sales Tax, $34.31 3 January 2 Received payment in full, if applicable, on Invoice #200 from Bryon's School for Pets, Customer Check #2254 (Note: No discount is available on this transaction since the discount dote has passed.) 4 January 2 Purchased a used van from Award Autos to be used for pickup and delivery service in the amount of $16,200.00 Paid $6,000 cash, issued check #2402, and signed a 24-month, 8% not for the balance of $10,200.00 Monthly payments on the note are due on the 25 of each month in the amount of $461.32. (Hint: You will need to record this transaction suing three entries, Record the purchase of the van in the Purchases Journal with a credit to Accounts Payable Record the down payment in the Cash Payments Journal. Transfer the balance owed from the Accounts Payable account to the Notes Payable account with a general journalentry. 5 January 3 Received payment in fullfrom Able Kennel & Training for invoice #198, Customer Check #559. (Note: No discount is available on this transactions ince the discount date has passed.) 6 January 3 Recorded deposit of fees received for day care for the week of January 206, 30 dogs@ $75.00 per week. (Note: Soles of services are not subject to Florida soles tax) 7 January 3 Received Involce 1010, dated January 2, in the amount of $373.50 from Basic Feeds, Inc, terms 2/10, 1/30, for the following merchandise. 200 lbs. PS&S Kibble Dry Dog Food @ $0.64 per ib. $128.00 46 cans of PS&S Brand Canned Dog Food @ $0.50 per can, $23.00 375 lbs. PSRS Crunchy Bites @ $0.50 per ib., $187.50 Freight Charges, $35.00 (Note: Charge to Cost of Sales --Freight) 11 8 January 4 Sold merchandise on account to Bryon's School for Pets, Invoice #215, terms 2/10, 1/30 15 Blue Nylon Leashes S Blue Nylon Collars 6.692 gaug 9 January 4 10 January 5 11 January 5 12 January 5 13 January 6 50 lbs. PS&S Brand Training Treats Sales Tax, $20.30 Issued Check #2403 in the amount of $150.00 to PSL Trust Co.(11117"Street, Port Saint Lucie, FL 34592) in payment of accrued interest on the $6,000.00 short-term note payable issued Credit Memo#55 to Pampered Pups Kennels for Merchandise returned on Invoice #2 14 of January 2. The total amount is $33.39, which includes Florida sales tax of $1.89. The items returned were as follows: 10 cans PS&S Brand Canned Dog Food 2 bottles Healthy Pet Vitamins (Note: Remember to return goods to Inventory and credit the Cost of Goods Sold account) Issued Check #2404 in the amount of $634.00 to WSVL Radio for advertisements to air during the months of January and February. (Note: Charge to prepaid advertising.) Increased the petty cash fund to $250.00 to provide for increasing miscellaneous office expenses by issuing Check #2405 in the amount of $50.00 to A. Day, Petty Cash. Sold merchandise on account to Able Kennel & Training, Invoice #216, terms 2/10,n/30 100 lbs. PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunchy Bites 25 bottles Supersoft Ultra Shampoo 1 Shhh Hair Clippers Sales Tax, $48.69 Cash sales of merchandise for January 206. (Note: all product sales are subject to 6% Florida sales tax.) 5 Sweater coats-S,M,L 2 All Weather Dog Houses 6 bottles Puppy Coat Shampoo 12 Flying Toss Toys 5 Dog Crates-Small 275 lbs. PS&S Crunchy Bites Sales Tax, $48.69 Issued Check #2406,9194.20, to The Office Shack for office supplies. Recorded deposit of grooming fees for January 2-6;25 dogs groomed @ $40.00 each. Recorded deposit offees received for day care for the week of January 9-13,33 dogs@ $75.00 each. 14 January 6 16 16 January 9 January 9 17 January 10 24h 18 January 10 19 January 11 20 January 11 21 January 12 22 January 12 Received Invoice 7561, dated January 9, in the amount of $198.40from GA Management Systems, Inc., terms /10, for the following merchandise: 15 lbs. PS&S Brand Training Treats @ $1.20 per lb., $18.00 20 Blue Nylon Leashes @ $3.52 each, 570.40 25 Blue Nylon Collars @ $1.50 each, $37.50 10 Best Training Collars @ $6.50 each, $65.00 Freight Charges, $7.50 Received a check in the amount of $55.00 from The Office Shack for return of office supplies purchased for cash on January 9. Received Invoice 1401, dated January 10 in the amount of $345.50 from Basic Feeds, Inc., terms 2/10, 1/30, for the following merchandise: 200 lbs. PS&S Kibble Dry Dog Food @ $0.64 perib.. $128.00 30 cans PS&S Brand Canned Dog Food @ $0.50 per can, $15.00 375 lbs. PS&S Crunchy Bites @ $0.50 per lb.. $187.50 Freight Charges, $15.00 Donated $50.00 of grooming supplies to 2 Chance, a charitable organization for the care and training of abandoned dogs. (Hint: this transaction does not affect cash) Received Credit Memo#334, dated January 11, in the amount of $65.10 from GA Management Systems, Inc., for the return of the following merchandise billed on Invoice 7561, dated January 9. (Hint: no portion of the freight charges are reimbursed with the return.) 5 Blue Nylon Leashes @ $3.52 each, $17.60 10 Blue Nylon Collars @ $1.50 each, $15.00 510 Best Training Collars @ $6.50 each, $32.50 Sold Merchandise on account to Ken's Kennels, Invoice #217, terms 2/10,n/30. 100 PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunch Bites 12 bottle Ridda Flea Shampoo Sales Tax, $16.76 Sold Merchandise on account to Dogs Delight Training Academy, Invoice #218, terms 2/10, n/30 30 lbs. PS&S Brand Training Treats 6 Best Training Collars 3 Dog Creates - Medium Sales Tax $24.30 Received payment in full less the discount form Pampered Pups Kennels on Invoice #214, Customer Check #8812.(Hint: Remember to apply Credit Memo #55 and base the discount on the reduced amount due. Do not take discounton Sales Tox) 23 January 12 24 January 12 25 January 12 26 January 12 Issued Check 2407 to Basic Feeds Inc. in payment of invoice 1010. (Hint: Take the discount on the goods but no on the freight.) 27 January 13 28 January 13 29 January 13 30 January 13 31 January 13 Cash sales of merchandise for January 9-13. (All product sales subject to sales tax) 10 Ceramic Food dishes -Small 8 Coat Glow Vitamins 2 Borders Grooming Tables 5 PlayBalls 8 Ridda Flea Collars 200 lbs. PS&S Kibble Dry Dog Food 25 Boxes PS&S Biscuits Sales Tax, $47.93 Issued check #2408 in the amount of $3,617.12 to the Federal Reserve Bank of Vero (14 Main Street, Vero FL, 34622) In payment of withheld FICA, federalincome tax, and employer's FICA for last December. (Hint: Refer to the December 31 trial balance for amount in each account.) Issued check #2409 in the amount of$255.33 to the Federal Reserve Bank of Vero in payment of FUTA taxes accrued during the period ending December 31. Issued check #2410 in the amount of $867.68 to collection Department, Florida Treasurer's Office (263 25St. Ft. Pierce, FL 34981) in payment of SUTAtaxes accrued during the period ending December 31. Issued Check #2411 to Tim's Janitorial co. in the amount of $663.00, payment of Invoice 1234, balance due for December services. (Note: This invoice was recorded in December.) Received a partial payment of $100.00 on Invoice #215 from Bryon's School for Pets, Customer check #1552 Received a partial payment of $1000.00 on Invoice #204 from Dogs Delight Training Academy, Customer check #01145. Issued Check #2412 to Small Business Bank for monthly interest on the $15,000 long- term note. Issued semimonthly payroll checks number 203-208 to employees Susan Evans, salaried John Beam, 80 regular hours and 2 overtime hours worked Sylvia Train, 80 regular hours worked Quon Long, 48 regular hours worked Mel Hough, 80 regular hours and 8 overtime hours worked (Note: Prepare the payroll and journalentries, but you do not have to write out paychecks.) Issued Check #213 in the amount of the total net payroll checks issued to employees for deposit in the Payroll Checking Account Recorded deposits of grooming fees for January 9-13,35 dogs groomed @40.00 each. 32 January 13 33 January 13 34 January 13 35 January 13 36 January 13 37 January 16 38 January 16 39 January 16 40 41 January 16 January 17 42 January 17 43 January 17 Sold Merchandise on account to Crowns Dog Training School, Invoice #219, terms 2/10, n/30 25 lbs. PS&S Brand Training Treats 10 Brown Leather Leads 12 Brown Leather collars 10 Funtime Tug Toys 25 boxes of PS&S Biscuits Sales Tax $43.6. Received payment in full less discount from Able Kennel & Training for invoice #216, Customer Check #5336 (Hint: Do not take discount on Sales Tax) Issued Check #2414 in the amount of $650.00 to Alana Day for personal use. Recorded deposit of fees received for day care for the week of January 16-20, 34 @ 75.00 per week Received Invoice 2330, dated January 16, in the amount of $512.95 from in Closures, Inc., terms 2/10,n/30, for the following merchandise. 3 Dog Crates-Small @26.00 each, $78.00 3 Dog Crates-Medium @51.00 each, $153.00 3 Dog Crates-Large@80.65 each, $241.95 Freight Charges, $40.00 Received payment in full on Invoice #208 from Ken's Kennels, Customer Check #10721. Issued Check #2415 in the amount of $225.00 to The Kennel Blue for a two- page advertisement to be placed in the March show catalog. Issued Check #2416 to GA Management Systems Inc., in payment of Invoice 1455 Received payment in full from Cowan Dog Training School for Invoice #209, Customer Check #3333 Sold merchandise on account to Able Kennel & Training, Invoice #220, terms 2/10,n/30. 75 lbs, PS&S Kibble Dry Dog Food 75 lbs. PS&S Crunchy Bites 20 can PS&S Brand Canned Dog Food 3 QuickFix Pin Brushes Sales Tax, $10.01 Issued Credit Memo#56 in the amount of $204.05 to Cowan dog Training School for merchandise returned on Invoice 219 of January 16. 5 Brown Leather Leads 5 Brown Leather Collars The amount includes Florida sales tax of $11.55.(Remember to adjust inventory and Cost of Goods Sold.) Issued Check #2417 to in-Closures, Inc., in payment of Invoice 1952. 44 January 17 45 January 18 46 January 18 47 January 18 48 January 19 49 January 19 24h 50 January 19 51 January 19 52 January 19 53 January 19 Received Invoice 1482, dated January 18 in the amount of $318.50from Basic Feeds, Inc., terms 2/10, n/30, for the following merchandise: 275 lbs. PS&S Kibble Dry Dog Food @ $0.64 per lb., $176.00 35 cans PS&S Brand Canned Dog Food @ $0.50 per can, $17.50 200 lbs. PS&S Crunchy Bites @ $0.50 per lb., $100.00 Freight Charges, $25.00 Sold merchandise on account to Pampered Pups Kennels, Invoice #221, terms 2/10, 1/30 100 lbs. PS&S Kibble Dry Dog Food 100 lbs. PS&S Crunchy Bites 24 can PS&S Brand Canned Dog Food Sales Tax, $12.48 Sold Merchandise on account to Dogs Delight Training Academy, Invoice #218, terms 2/10,n/30 3 Dog Crates --Small 3 Dog Crates-Medium 3 Dog Crates-Large 12 Blue Nylon Leashed 6 boxes PS&S Biscuits Sales Tax, $53.32 Received payment in full on Invoice #211 from Pampered Pups Kennels, Customer Check #8890 Issued check #2418 to GA Management Systems, Inc., in payment of Invoice 7561. (Note: Be sure to apply Credit Memorandum to #344 to reduce that amountowed) Cash sales of merchandise for January 16-20. (All product sales subject to sales tax) 30 cans of PS&S Brand dog food 150 lbs. PS&S Crunchy Bites 2,4 Pays Dog Beds-Small 10 bottles Supersoft Ultra Shampoo 14 pkgs. Rawhide Chews Sales Tax, $21.77 Received balance owed on Invoice #204 and payment in full less the discount on Invoice #218 from dogs Delight Training Academy, Customer Check #01192. Received Credit memo#144, dated January 19, in the amount of $106.65 from In-Closures, Inc., for the return of the following merchandise bill on Invoice 2330, dated January 16. 1 Dog Crates--Small @26.00 each 1 Dog Crates--Large @ 80.65 each 54 January 20 55 January 20 56 January 20 57 January 20