I started to work on my project and I am way off. Wondering if you can help me figure out the General Journal Entries and where I have gone wrong.

The adjusting entries I need to do are in the word document and need to record it in the excel document.

Thank you! If possible by 11pm tonight that would be great as it is due by midnight!

Thank you, Stephanie

Robert's Lawn Care Chart of Accounts AC # 1010 1020 1020.1 1025 1028 1030 1035 1040 1045 1060 1080 Title Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Note Receivable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck 1080.1 1085 1085.1 1090 1095 2010 2020 2030 2040 2070 3010 3030 3090 4010 4010.1 4010.2 4020 Accumulated Depreciation -Truck Equipment Accumulated Depreciation - Equipment Land Land Improvements Accounts Payable Income Tax Payable Interest Payable Unearned Revenue Note Payable Nick Roberts, Capital Nick Roberts, Withdrawal Income Summary Sales Revenue Sales Discounts Sales Returns and Allowances Interest Revenue 5000 6010 6020 6030 6035 6040 6050 6060 6070 6080 6090 6100 6110 Cost of Goods Sold Advertising Expense Depreciation Expense Gas and Oil Expense Income Tax Expense Insurance Expense Interest Expense Office Supplies Expense Phone Expense Professional Fees Expense Rent Expense Subcontractor Expense Uncollectible Account Expense Current Balances Debit Credit $21,265 $1,135 $1,000 $575 $5,900 $1,100 $25,000 $18,000 $5,400 $11,400 $4,420 $81,000 $0 $4,399 $1,000 $55,000 $10,741 $162,000 $750 $500 $69,000 $1,345 $2,990 $3,300 $700 Total $243,960 $243,960 Robert's Lawn Care is a sole proprietorship with an October 31 year end. Analyze and record the transactions for the final month of the year, October, in the provided template. Refer to the Part A instructions and scoring rubric for grading criteria. Date Part A Description 1-Oct Prepaid 2 months rent for Oct. and Nov. $1,500 1-Oct Received $800 cash for lawn services rendered. 3-Oct Received $18,600 invoice from vendor for inventory shipped 10/1, terms FOB Shipping Point 4-Oct Paid $140 to fill gas fuel barrel and purchase oil 7-Oct Paid $210 to purchase office supplies 8-Oct Deposited $3,000 weekly cash sales. Cost of Inventory was $1,950. 10-Oct Paid Invoice # 458 11-Oct Paid accountant $800 for services rendered 11-Oct Advertised services in local paper. Cost $75 12-Oct Sold inventory, on account, for $5,000 Cost of Inventory was $2,500 13-Oct Paid carrier, Transit Inc, $85 for freight charges incurred for inventory purchased from Trees LLC (Purchase Invoice #458) 14-Oct Received full payment, on account, Miles, Co Invoice 10102 15-Oct Deposited $2,995 weekly cash sales. Cost of Inventory was $1,940. 20-Oct Paid excavator, Builder's Inc, $6,000 for landclearing in anticipation of building a new facility 20-Oct Paid $410 to fill gas fuel barrel and purchase oil 20-Oct Purchased $20,000 inventory, on account 22-Oct Deposited $5,400 weekly cash sales. Cost of Inventory was $4,650 25-Oct Paid sub-contractor $2,000 for services rendered Document # Vendor/Customer Terms Check Deposit Purchase Invoice 149 1 458 Trees LLC 2/10, n/30 Check Check Deposit 150 151 2 Check Check Purchase Invoice Sales Invoice 152 153 360 10102 Check 154 Deposit 3 Deposit 4 Check 155 Check Purchase Invoice Deposit 156 511 5 Check 157 Tress LLC Daily News Miles, Co n/30 2/15, n/30 Trees LLC 2/10, n/30 27-Oct Billed customer $1,100 for lawn winterizing services Cost of Inventory was $750 28-Oct Received a $24,600, 12% 60 day note in exchange for services rendered Cost of Inventory $18,000 29-Oct Deposited $6,900 weekly cash sales. Cost of Inventory was $5,765. 31-Oct Traded old truck plus $7,000 cash for new truck. The old truck was used 12 mos. In the current year. The business uses 5 yr SL. 31-Oct Nick withdrew $1,500 cash for personal use 31-Oct Write-off Hyde, Inc account receivable as uncollectible Part B Adjusting Entries Round all calculations to a whole dollar. Description 1 3 months of the 6-month prepaid insurance policy has expired. 2 The business uses 5-year straight-line depreciation and assumes zero salvage value. Compute 1-yr depreciation on equipment. 3 $300 of gas and oil remains at year end. 4 $100 of office supplies are on hand at year end. 5 The current market value of the inventory is $26,950 Sales Invoice 10103 Local Community College Note 101 New Business Company Deposit 6 Check 158 Check 159 n/30 12% 60 day 6 Nick estimates that 1.0% of credit sales will be uncollectible. Credit sales for the first 11 months were $75,000. 7 Compute interest earned on note receivable (Use 360 day year and round to whole dollar) 8 Record the adjustment for expired rent. 9 Compute 6 months interest accrual on a 2-year 6% Note Payable 10 Accrue 12,000 of income tax expense Sales Journal Page 4 Date Invoice # Customer Account Debited 12-Oct 10102 Miles, Co 27-Oct 10103 Local Community College 31-Oct Totals Terms 2/15, n,30 n,30 Accounts Cost of Goods Receivable DR/ Sold DR/ Sales Inventory CR Revenue CR Post Ref. X X 5,000 1,100 6,100 X Sales Discount 800 3,000 4,900 2,995 5,400 X Cash Receipts Journal Page 10 Credits Other Accounts Debits Date Reference Cash 1-Oct Cash Sale 8-Oct Cash Sale 14-Oct Miles, Co 15-Oct Cash Sale 22-Oct Cash Sale 2,500 750 3,250 Sales Revenue ### ### Accounts Receivable Account Title Post Ref. Amount Cost of Goods Sold DR /Inventory Credit 1,950 100 5,000 X You gave a 20% discount instead of a 2% discount. ### ### 1,940 4,650 Remove this entry. You did not receive cash. You received a Note Rec. in exchange for a sale. Enter it in the GJ. 29-Oct Cash Sale 31-Oct Totals 6,900 23,995 X 100 X ### 19,095 X 5,765 14,305 X 5,000 X Purchase Journal Page 20 Credits Debits Other Accounts Date 3-Oct 11-Oct 20-Oct 31-Oct Supplier (Vendor) Account Credited Ref Terms 458 2/10, n/30 360 n,30 511 2/10, n/30 Tree LLC Daily News Tree LLC Totals Accounts Payable 18,600 75 20,000 38,675 X Post Ref. 205 278 205 Inventory 18,600 Account Title Post Ref. Advertising Expense 6010 Amount 75 Enter GL account number 20,000 38,600 X 75 X Enter subsidiary ledger account numbers when you post Cash Payments (Disbursements) Journal Page 43 Credit Debits Date 1-Oct 4-Oct 7-Oct 10-Oct 11-Oct 13-Oct 20-Oct 20-Oct 25-Oct Ck No. 149 150 151 152 153 154 155 156 157 31-Oct 31-Oct 159 Totals Account Debited Prepaid Rent Prepaid Gas and Oil Office Supplies Tree LLC Professional Fees Expense Inventory Cost of Land Prepaid Gas and Oil Subcontractor Expense Post Ref. 1045 1035 1030 205 6080 1060 1090 1035 6100 Nick Roberts, Withdrawal 3030 Other Accounts Accounts Payable Inventory 1,500 140 210 18,600 800 85 6,000 410 2,000 Cash 1,500 140 210 18,600 800 85 6,000 410 2,000 Debit Prepaid Gas and Oil. You will do an AJE to expense the portion used. Debit the asset, Office Supplies. You will do an AJE to expense the portion used. This is not a payment on account. Debit the inventory account. Land-clearing costs must be added to the cost of Land (not Land improvement) Debit Prepaid Gas and Oil. You will do an AJE to expense the portion used. Remove this entry. It is part of the 10/31 trade entry in the GJ 1500 12,560 X 18,600 X 1,500 12,645 X GENERAL JOURNAL Date Account Titles and Explanation 31-Oct Allowance Account Hyde, Inc Accounts Receivable 28-Oct Cash Notes Recievable Post Ref 1020.2 111 1020 Debit 1,135 1010 1028 24,600 31-Oct Truck Depreciation Expense Accumulated depreciation 31-Oct Cash Truck Depreciation Expense Accumulated depreciation 1,135 1,135 24,600 3,600 1010 1080 1080.2 19,800 18,000 1,800 14,200 14,200 6040 1040 550 6020 1085.1 2,280 31-Oct Gas and Oil Expense Prepaid Gas and Oil 6030 1035 300 31-Oct Office Supplies Expense Office Supplies 6060 1030 100 31-Oct Cost of Goods Sold Inventory 5000 1060 11,735 31-Oct Interest Expense Interest Payable 6050 2030 809 31-Oct Rent Expense Prepaid Rent Expense 6090 1045 1,500 31-Oct Interest Recievable 1025 825 31-Oct Depreciation Expense Accumulated Depreciation - Equipment Credit 3,600 31-Oct Cash Truck 31-Oct Insurance Expense Prepaid Insurance Pg 101 550 2,280 300 100 11,735 809 1,500 Interest Revenue 4020 31-Oct Uncollectible Account Expense Sales Revenue 6110 4010 31-Oct Income Tax Expense 6035 825 750 750 See text page 367 for write-off. You must DR the allowance account In addition to CR Hyde, you must CR the accounts receivable account. Otherwise, you subsidiary ledger will not match your control account. Move the 10/28 sale in exchange for a note from the CRJ to the GJ. In additiona to reporting the Note Rec and the sale, you will also update inventory and the COGS. See the module handout and page 419 of your text to help you with the trade. The first thing to do is to update your truck depreciation expense and accumulated depreciation for one year of usage. 18000/5. Post the entry to update your accumulated depreciation account The second part of the entry requires you to remove the old truck and old accumulated depreciation (close the accounts) and r of the old truck plus the 7000 cash paid. Note Rec and the tion (close the accounts) and report the 7000 payment of cash. The cost (debit) of the new truck will be the net book value et book value GENERAL LEDGER Account Title: Date Explanation Balance Forward 31-Oct 31-Oct 31-Oct Cash Post Ref DEBIT CR10 CD48 GJ 1010 CREDIT 23,995 12,645 24,600 BALANCE 21,265 45,260 CRJ error 32,615 CDJ error 8,015 Missing GJ entry 31-Oct GJ 19800 27,815 31-Oct GJ 14200 42,015 Account Title: Date Explanation Balance Forward 31-Oct Accounts Receivable Post Ref DEBIT S4 1020 CREDIT 6,100 BALANCE 1,135 7,235 31-Oct CR10 5,000 2,235 31-Oct GJ 1,135 1,100 Missing GJ entry to write-off Account Title: Allowance for Doubtful Accounts Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct GJ 1020.1 BALANCE 1,000 2,135 Missing GJ entry 1,135 to write-off AR Account Title: Date Explanation Balance Forward 31-Oct Account Title: Date Explanation Balance Forward 31-Oct Interest Receivable Post Ref DEBIT GJ CREDIT 24,600 BALANCE 825 825 Note Receivable Post Ref DEBIT GJ 1025 1028 CREDIT BALANCE 24,600 Missing GJ entry for sale on NR Account Title: Date Explanation Balance Forward 7-Oct 31-Oct Account Title: Date Explanation Balance Forward 4-Oct Office Supplies Post Ref DEBIT CD43 1030 CREDIT 210 GJ 100 Prepaid Gas and Oil Post Ref DEBIT BALANCE 575 785 CDJ error 685 1035 CD43 140 BALANCE 5,900 6,040 CDJ error 20-Oct CD43 410 6,450 CDJ error 31-Oct GJ Account Title: Date Explanation Balance Forward 31-Oct Account Title: Date Explanation Balance Forward 1-Oct 31-Oct Account Title: Date Explanation Balance Forward 31-Oct 300 Prepaid Insurance Post Ref DEBIT GJ CREDIT S4 BALANCE 1,500 1500 Inventory Post Ref DEBIT BALANCE 1,100 550 1045 1,500 GJ 6,150 1040 CREDIT 550 Prepaid Rent Post Ref DEBIT CD48 CREDIT - 1060 CREDIT 3250 BALANCE 25,000 21,750 CRJ error 31-Oct P20 13-Oct CD43 38,600 85 38,600 38,685 CDJ error 31-Oct GJ 11,735 26,950 CDJ error for freight GJ error sale on NR Account Title: Date Explanation Truck Post Ref DEBIT 1080 CREDIT Balance Forward 31-Oct 31-Oct 18,000 GJ GJ 18,000 14,200 Account Title: Accumulated Depreciation -Truck Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct 31-Oct BALANCE - GJ entry to remove old truck 14,200 GJ entry to add new tr 1080.1 BALANCE 5,400 GJ GJ 3,600 1,800 1,800 A CDJ entry will - not affect this account You are missing 2 GJ entries Account Title: Date Explanation Equipment Post Ref DEBIT 1085 CREDIT Balance Forward BALANCE 11,400 1085.1 Account Title: Accumulated Depreciation - Equipment Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct GJ 2280 BALANCE 4,420 2,140 Account Title: Date Explanation Balance Forward 20-Oct BALANCE 81,000 87,000 CDJ error Account Title: Land Post Ref DEBIT CD43 6,000 Land Improvements 1090 CREDIT 1095 Date Explanation Balance Forward Post Ref DEBIT CREDIT BALANCE - CDJ error Account Title: Date Explanation Balance Forward 31-Oct 31-Oct Accounts Payable Post Ref DEBIT P20 CD48 2010 CREDIT 38,675 18,600 BALANCE 4,399 (34,276) CR + CR = CR (15,676) CDJ error. The 85 is not a payment on account Account Title: Date Explanation Balance Forward Income Tax Payable Post Ref DEBIT Account Title: Date Explanation Balance Forward 31-Oct Interest Payable Post Ref DEBIT 2020 CREDIT BALANCE - GJ Account Title: Date Explanation Balance Forward Unearned Revenue Post Ref DEBIT Account Title: Date Explanation Balance Forward Note Payable Post Ref DEBIT 2030 CREDIT 809 BALANCE 809 2040 CREDIT BALANCE 1,000 2070 CREDIT BALANCE 55,000 GJ entry error. This is a Note RECEIVAB Account Title: Date Explanation Balance Forward Account Title: Date Nick Roberts, Capital Post Ref DEBIT 3010 CREDIT 3030 Nick Roberts, Withdrawal Explanation Balance Forward 31-Oct Post Ref CD48 DEBIT BALANCE 10,741 CREDIT 1,500 BALANCE 1,500 entry to write-off Account Title: Date Explanation Income Summary Post Ref DEBIT 3090 CREDIT BALANCE Balance Forward 31-Oct Account Title: Date Explanation Sales Revenue Post Ref DEBIT 4010 CREDIT Balance Forward 31-Oct 31-Oct 31-Oct Account Title: Date Explanation Balance Forward 31-Oct BALANCE 162,000 S4 CR10 GJ 6,100 19,095 750 Sales Discounts Post Ref DEBIT CR10 100 155,900 136,805 136,055 Missing 10/28 GJ entry 4010.1 CREDIT BALANCE 750 850 CRJ error Account Title: Date Explanation Balance Forward Account Title: Date Sales Returns and Allowances Post Ref DEBIT CREDIT 31-Oct Post Ref DEBIT CREDIT GJ Explanation 825 Date Explanation Balance Forward 11-Oct CREDIT Date 31-Oct 31-Oct 3,250 14,305 11,735 Explanation Balance Forward BALANCE 72,250 86,555 98,290 6010 Advertising Expense Post Ref DEBIT P20 Account Title: 825 69,000 S4 CR10 GJ Account Title: BALANCE 5000 Cost of Goods Sold Post Ref DEBIT Balance Forward 31-Oct 31-Oct 31-Oct BALANCE 500 4020 Interest Revenue Explanation Balance Forward Account Title: Date 4010.2 CREDIT 75 6020 Depreciation Expense Post Ref GJ GJ DEBIT 3,600 2,280 BALANCE 1,345 1,420 CREDIT BALANCE 3,600 Missing GJ entry 5,880 Account Title: Date Explanation Gas and Oil Expense Post Ref DEBIT 6030 CREDIT BALANCE Balance Forward 31-Oct GJ 300 CDJ error 300 CDJ error o remove old truck Account Title: Date Explanation Income Tax Expense Post Ref DEBIT 6035 CREDIT BALANCE Balance Forward 31-Oct GJ Account Title: Date Explanation 12,000 Insurance Expense Post Ref DEBIT 12,000 6040 CREDIT BALANCE Balance Forward 31-Oct GJ Account Title: Date Explanation Balance Forward 31-Oct Explanation Balance Forward 31-Oct Explanation Balance Forward 550 6050 Interest Expense Post Ref DEBIT CREDIT 6060 Office Supplies Expense Post Ref DEBIT CREDIT DEBIT BALANCE 100 CDJ error 100 6070 Phone Expense Post Ref BALANCE 809 809 GJ Account Title: Date 550 GJ Account Title: Date - CREDIT BALANCE 2,990 Account Title: Date Explanation Balance Forward 11-Oct Date Post Ref DEBIT CD48 Account Title: Explanation Balance Forward 31-Oct CREDIT 800 Post Ref GJ DEBIT Account Title: Date Explanation Balance Forward 31-Oct Uncollectible Account Expense Post Ref DEBIT GJ CREDIT 6100 CREDIT 2,000 750 BALANCE 1,500 1500 Subcontractor Expense Post Ref DEBIT CD48 BALANCE 3,300 4,100 6090 Rent Expense Account Title: Date Explanation Balance Forward 25-Oct rror. This is a Note RECEIVABLE (DR) 6080 Professional Fees Expense BALANCE 700 2,700 6110 CREDIT BALANCE 750 GJ error Missing 10/28 GJ entry Missing GJ entry Robert's Lawn Service Unadjusted Trial Balance October 31, 20-Debit 1010 1020 1020.1 1028 1030 1035 1040 1045 1060 1080 1085 1085.1 1090 2040 2070 3010 3030 4010 4010.1 4010.2 5000 6010 6020 6070 6080 6100 Totals Cash Accounts Receivable Allowance for Doubtful Accounts Notes Recieveable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck Equipment Accumulated Depreciation - Equipment Land Unearned Revenue Notes Payable Nick Roberts, Capital Nick Roberts, Withdrawal Sales Revenue Sales Discounts Sales Returns and Allowances Cost of Goods Sold Advertising Expense Depreciation Expense Phone Expense Professional Fees Expense Subcontractor Expense Totals Credit 42,015 1,100 2,135 24,600 785 6,450 1,100 1,500 38,685 14,200 11,400 4,420 87,000 1,000 55,000 10,741 1,500 136,805 850 500 86,555 1,420 3,600 2,990 4,100 2,700 335,185 207,966 670,370 415,932 (254,438) Accounts Receivable Subsidiary Ledger Miles, Co Date Jrnl Ref 12-Oct S 14-Oct CR 101 Debit Credit Balance 5,000 5,000 - 5,000 Local Community College Date Jrnl Ref 27-Oct S 109 Debit Credit Balance 1,100 1,100 Hyde, Inc Date Jrnl Ref Balance Forward 31-Oct GJ 111 Debit Credit Balance 1,135 - 1,135 Weston Place Date Jrnl Ref Balance Forward 120 Debit Credit Balance 1,000 Note: Weston's balance is an unearned deposit for services to be rendered (1,000) Accounts Payable Subsidiary Ledger Trees LLC Date Jrnl Ref 3-Oct P20 20-Oct P20 10-Oct CD43 205 Debit Credit Balance 18,600 20,000 18,600 -1,400 17,200 18,600 Daily News Date Jrnl Ref 11-Oct P20 278 Debit Credit Balance 75 75 Bill's Repair Date Jrnl Ref 30-Sep P19 293 Debit Credit Balance 4,399 4,399 Provide a Reflection statement. The reflection should address what you knew coming into this lear gained by doing the work in this learning plan and what areas you feel require additional study. Als difficulties that you had while completing Part A. This project was something I was familiar with as it was what I had to do in Accounting 1, and also in my Microcomputer Accou few things I get confused on when posting entries to the journals. The truck trade in entry confused me alone with the excava charge. There were no accounts for them, so was I suppose to put it in the General Journal? I feel like I understand the totalin journals and posting to the subsidiary ledgers. I also feel comfortable with creating the unadjusted trial balance as you only us balances. What I would get wrong probably though in those parts of the activity is if I from the beginning posted to the wrong the wrong accounts. I am a little nervous on the three entrys about that I was confused on, but I used by book and the practic my hardest. Looking forward to seeing how I did and just going back and making the corrections and learning from my mistake ew coming into this learning plan, what you re additional study. Also address any o in my Microcomputer Accounting Class. There are a sed me alone with the excavating bill and the freight el like I understand the totaling of the columns in the ed trial balance as you only use accounts with eginning posted to the wrong journals and recorded to used by book and the practice sample given and tried and learning from my mistakes. I love your attitude (learning from your mistakes) Though these projects are assessments, they are also an opportunity to grow. Worksheet Robert's Lawn Service October 31, 20-Unadjusted Trial Balance Account Titles Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Note Receivable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck Accumulated Depreciation -Truck Equipment Accumulated Depreciation - Equipment Land Land Improvements Accounts Payable Income Tax Payable Interest Payable Unearned Revenue Note Payable Nick Roberts, Capital Nick Roberts, Withdrawal Sales Revenue Sales Discounts Sales Returns and Allowances Interest Revenue Cost of Goods Sold Advertising Expense Depreciation Expense Gas and Oil Expense Income Tax Expense Insurance Expense Interest Expense Office Supplies Expense Phone Expense Professional Fees Expense Rent Expense Subcontractor Expense Uncollectible Account Expense Totals Net Income Debit 42,015 Adjusted Trial Balance Adjustments Credit Debit Credit 1,100 2,135 Debit 42,015 1,100 2,135 825 825 24,600 24,600 785 6,450 100 300 685 6,150 1,100 1,500 550 1,500 550 38,685 14,200 11,735 26,950 14,200 11,400 11,400 4,420 2,280 87,000 2,140 87,000 (15,676) (15,676) 809 1,000 809 1,000 55,000 10,741 55,000 10,741 1,500 1,500 136,805 750 850 500 136,055 850 500 825 86,555 1,420 3,600 98,290 2,280 1,420 5,880 300 12,000 300 12,000 550 809 550 809 100 100 2,990 4,100 1,500 4,100 1,500 2,700 750 750 2,700 192,290 825 11,735 2,990 335,185 Income Statement Credit 18,849 18,849 351,849 190,894 Debit Credit Balance Sheet Debit Credit Robert's Lawn Service Adjusted Trial Balance October 31, 20-Debit Credit Provide a Reflection statement. The reflection should address what you knew coming into this l gained by doing the work in this learning plan and what areas you feel require additional study. difficulties that you had while completing Part B. ew coming into this learning plan, what you re additional study. Also address any Robert's Lawn Service Robert's Lawn Service Robert's Lawn Service Calculate the current ratio Robert's Lawn Service Post-Closing Trial Balance October 31, 20-Debit Credit Schedule of Accounts Receivable October 31, 20-- Schedule of Accounts Payable October 31, 20-- Provide a Reflection statement. The reflection should address what you knew coming into this l gained by doing the work in this learning plan and what areas you feel require additional study. difficulties that you had while completing Part C. ew coming into this learning plan, what you re additional study. Also address any Accounting 2 Comprehensive Practice Set Part B Adjusting Entries Robert's Lawn Care is a sole proprietorship with an October 31 year end. Analyze and record the year-end adjusting entries in the provided template. Refer to the Part B instructions and scoring rubric for grading criteria. Part B Adjusting Entries Round all calculations to a whole dollar. Description 1 3 months of the 6-month prepaid insurance policy has expired. 2 The business uses 5-year straight-line depreciation and assumes zero salvage value. Compute 1-yr depreciation on equipment. 3 $300 of gas and oil remains at year end. 4 $100 of office supplies are on hand at year end. 5 The current market value of the inventory is $26,950 6 Nick estimates that 1% of credit sales will be uncollectible. Credit sales for the first 11 months were $75,000. - 750 7 Compute interest earned on note receivable (Use 360 day year and round to whole dollar) Record the adjustment for expired rent. Compute 6 months interest accrual on a 2-year 8 9 6% Note Payable Accrue 12,000 of income tax expense 10 Accounting 2 Comprehensive Practice Set Part A Transactions Robert's Lawn Care is a sole proprietorship with an October 31 year end. Analyze and record the transactions for October final month of the year) in the provided template. Refer to the Part A instructions and scoring rubric for grading criteria. (the Part A Date Description Document # Vendor/Customer Terms 1-Oct Signed 6 mo lease and prepaid 2 months' rent (Oct. and Nov.) of $1,500 Check 149 1-Oct Received $800 cash for lawn services rendered. Deposit 1 3-Oct Received $18,600 invoice from vendor for inventory Purchase Invoice 458 Trees LLC 2/10, n/30 shipped 10/1, terms FOB Shipping Point 4-Oct Paid $140 to fill gas fuel barrel and purchase oil Check 150 7-Oct Paid $210 to purchase office supplies Check 151 8-Oct Deposited $3,000 weekly cash sales. Deposit 2 Cost of Inventory was $1,950. 10-Oct Paid Invoice # 458 Check 152 Tress LLC 11-Oct Paid accountant $800 for services rendered Check 153 11-Oct Advertised services in local paper. Cost $75 Purchase Invoice 360 Daily News n/30 12-Oct Sold inventory, on account, for $5,000 Sales Invoice 10102 Miles, Co 2/15, n/30 Cost of Inventory was $2,500 13-Oct Paid carrier, Transit Inc, $85 for freight charges Check 154 incurred for inventory purchased from Trees LLC (Purchase Invoice #458) 14-Oct Received full payment, on account, Deposit 3 Miles, Co Invoice 10102 15-Oct Deposited $2,995 weekly cash sales. Deposit 4 Cost of Inventory was $1,940. 20-Oct Paid excavator, Builder's Inc, $6,000 for landCheck 155 clearing in anticipation of building a new facility 20-Oct Paid $410 to fill gas fuel barrel and purchase oil Check 156 20-Oct Purchased $20,000 inventory, on account Purchase Invoice 511 Trees LLC 2/10, n/30 22-Oct Deposited $5,400 weekly cash sales. Deposit 5 Cost of Inventory was $4,650 25-Oct Paid sub-contractor $2,000 for services rendered Check 157 27-Oct Billed customer $1,100 for lawn winterizing services Sales Invoice 10103 Local Community College Cost of Inventory was $750 n/30 28-Oct Received a $24,600, 12% 60 day note in exchange Note 101 New Business Company 12% 60 day for services rendered Cost of Inventory $18,000 29-Oct Deposited $6,900 weekly cash sales. Deposit 6 Cost of Inventory was $5,765. 31-Oct Traded old truck plus $7,000 cash for new Check 158 truck. The old truck was used 12 months in the current year. The business uses 5 yr SL. 31-Oct Nick withdrew $1,500 cash for personal use Check 159 31-Oct Write-off Hyde, Inc account receivable as uncollectible Accounting 2 Comprehensive Practice Set Part A Transactions Robert's Lawn Care is a sole proprietorship with an October 31 year end. Analyze and record the transactions for October final month of the year) in the provided template. Refer to the Part A instructions and scoring rubric for grading criteria. (the Part A Date Description Document # Vendor/Customer Terms 1-Oct Signed 6 mo lease and prepaid 2 months' rent (Oct. and Nov.) of $1,500 Check 149 1-Oct Received $800 cash for lawn services rendered. Deposit 1 3-Oct Received $18,600 invoice from vendor for inventory Purchase Invoice 458 Trees LLC 2/10, n/30 shipped 10/1, terms FOB Shipping Point 4-Oct Paid $140 to fill gas fuel barrel and purchase oil Check 150 7-Oct Paid $210 to purchase office supplies Check 151 8-Oct Deposited $3,000 weekly cash sales. Deposit 2 Cost of Inventory was $1,950. 10-Oct Paid Invoice # 458 Check 152 Tress LLC 11-Oct Paid accountant $800 for services rendered Check 153 11-Oct Advertised services in local paper. Cost $75 Purchase Invoice 360 Daily News n/30 12-Oct Sold inventory, on account, for $5,000 Sales Invoice 10102 Miles, Co 2/15, n/30 Cost of Inventory was $2,500 13-Oct Paid carrier, Transit Inc, $85 for freight charges Check 154 incurred for inventory purchased from Trees LLC (Purchase Invoice #458) 14-Oct Received full payment, on account, Deposit 3 Miles, Co Invoice 10102 15-Oct Deposited $2,995 weekly cash sales. Deposit 4 Cost of Inventory was $1,940. 20-Oct Paid excavator, Builder's Inc, $6,000 for landCheck 155 clearing in anticipation of building a new facility 20-Oct Paid $410 to fill gas fuel barrel and purchase oil Check 156 20-Oct Purchased $20,000 inventory, on account Purchase Invoice 511 Trees LLC 2/10, n/30 22-Oct Deposited $5,400 weekly cash sales. Deposit 5 Cost of Inventory was $4,650 25-Oct Paid sub-contractor $2,000 for services rendered Check 157 27-Oct Billed customer $1,100 for lawn winterizing services Sales Invoice 10103 Local Community College Cost of Inventory was $750 n/30 28-Oct Received a $24,600, 12% 60 day note in exchange Note 101 New Business Company 12% 60 day for services rendered Cost of Inventory $18,000 29-Oct Deposited $6,900 weekly cash sales. Deposit 6 Cost of Inventory was $5,765. 31-Oct Traded old truck plus $7,000 cash for new Check 158 truck. The old truck was used 12 months in the current year. The business uses 5 yr SL. 31-Oct Nick withdrew $1,500 cash for personal use Check 159 31-Oct Write-off Hyde, Inc account receivable as uncollectible Robert's Lawn Care Chart of Accounts AC # 1010 1020 1020.1 1025 1028 1030 1035 1040 1045 1060 1080 Title Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Note Receivable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck 1080.1 1085 1085.1 1090 1095 2010 2020 2030 2040 2070 3010 3030 3090 4010 4010.1 4010.2 4020 Accumulated Depreciation -Truck Equipment Accumulated Depreciation - Equipment Land Land Improvements Accounts Payable Income Tax Payable Interest Payable Unearned Revenue Note Payable Nick Roberts, Capital Nick Roberts, Withdrawal Income Summary Sales Revenue Sales Discounts Sales Returns and Allowances Interest Revenue 5000 6010 6020 6030 6035 6040 6050 6060 6070 6080 6090 6100 6110 Cost of Goods Sold Advertising Expense Depreciation Expense Gas and Oil Expense Income Tax Expense Insurance Expense Interest Expense Office Supplies Expense Phone Expense Professional Fees Expense Rent Expense Subcontractor Expense Uncollectible Account Expense Current Balances Debit Credit $21,265 $1,135 $1,000 $575 $5,900 $1,100 $25,000 $18,000 $5,400 $11,400 $4,420 $81,000 $0 $4,399 $1,000 $55,000 $10,741 $162,000 $750 $500 $69,000 $1,345 $2,990 $3,300 $700 Total $243,960 $243,960 Robert's Lawn Care is a sole proprietorship with an October 31 year end. Analyze and record the transactions for the final month of the year, October, in the provided template. Refer to the Part A instructions and scoring rubric for grading criteria. Date Part A Description 1-Oct Prepaid 2 months rent for Oct. and Nov. $1,500 1-Oct Received $800 cash for lawn services rendered. 3-Oct Received $18,600 invoice from vendor for inventory shipped 10/1, terms FOB Shipping Point 4-Oct Paid $140 to fill gas fuel barrel and purchase oil 7-Oct Paid $210 to purchase office supplies 8-Oct Deposited $3,000 weekly cash sales. Cost of Inventory was $1,950. 10-Oct Paid Invoice # 458 11-Oct Paid accountant $800 for services rendered 11-Oct Advertised services in local paper. Cost $75 12-Oct Sold inventory, on account, for $5,000 Cost of Inventory was $2,500 13-Oct Paid carrier, Transit Inc, $85 for freight charges incurred for inventory purchased from Trees LLC (Purchase Invoice #458) 14-Oct Received full payment, on account, Miles, Co Invoice 10102 15-Oct Deposited $2,995 weekly cash sales. Cost of Inventory was $1,940. 20-Oct Paid excavator, Builder's Inc, $6,000 for landclearing in anticipation of building a new facility 20-Oct Paid $410 to fill gas fuel barrel and purchase oil 20-Oct Purchased $20,000 inventory, on account 22-Oct Deposited $5,400 weekly cash sales. Cost of Inventory was $4,650 25-Oct Paid sub-contractor $2,000 for services rendered Document # Vendor/Customer Terms Check Deposit Purchase Invoice 149 1 458 Trees LLC 2/10, n/30 Check Check Deposit 150 151 2 Check Check Purchase Invoice Sales Invoice 152 153 360 10102 Check 154 Deposit 3 Deposit 4 Check 155 Check Purchase Invoice Deposit 156 511 5 Check 157 Tress LLC Daily News Miles, Co n/30 2/15, n/30 Trees LLC 2/10, n/30 27-Oct Billed customer $1,100 for lawn winterizing services Cost of Inventory was $750 28-Oct Received a $24,600, 12% 60 day note in exchange for services rendered Cost of Inventory $18,000 29-Oct Deposited $6,900 weekly cash sales. Cost of Inventory was $5,765. 31-Oct Traded old truck plus $7,000 cash for new truck. The old truck was used 12 mos. In the current year. The business uses 5 yr SL. 31-Oct Nick withdrew $1,500 cash for personal use 31-Oct Write-off Hyde, Inc account receivable as uncollectible Part B Adjusting Entries Round all calculations to a whole dollar. Description 1 3 months of the 6-month prepaid insurance policy has expired. 2 The business uses 5-year straight-line depreciation and assumes zero salvage value. Compute 1-yr depreciation on equipment. 3 $300 of gas and oil remains at year end. 4 $100 of office supplies are on hand at year end. 5 The current market value of the inventory is $26,950 Sales Invoice 10103 Local Community College Note 101 New Business Company Deposit 6 Check 158 Check 159 n/30 12% 60 day 6 Nick estimates that 1.0% of credit sales will be uncollectible. Credit sales for the first 11 months were $75,000. 7 Compute interest earned on note receivable (Use 360 day year and round to whole dollar) 8 Record the adjustment for expired rent. 9 Compute 6 months interest accrual on a 2-year 6% Note Payable 10 Accrue 12,000 of income tax expense Sales Journal Page 4 Date Invoice # Customer Account Debited 12-Oct 10102 Miles, Co 27-Oct 10103 Local Community College 31-Oct Totals Terms 2/15, n,30 n,30 Accounts Cost of Goods Receivable DR/ Sold DR/ Sales Inventory CR Revenue CR Post Ref. X X 5,000 1,100 6,100 X Sales Discount 800 3,000 4,900 2,995 5,400 X Cash Receipts Journal Page 10 Credits Other Accounts Debits Date Reference Cash 1-Oct Cash Sale 8-Oct Cash Sale 14-Oct Miles, Co 15-Oct Cash Sale 22-Oct Cash Sale 2,500 750 3,250 Sales Revenue ### ### Accounts Receivable Account Title Post Ref. Amount Cost of Goods Sold DR /Inventory Credit 1,950 100 5,000 X You gave a 20% discount instead of a 2% discount. ### ### 1,940 4,650 Remove this entry. You did not receive cash. You received a Note Rec. in exchange for a sale. Enter it in the GJ. 29-Oct Cash Sale 31-Oct Totals 6,900 23,995 X 100 X ### 19,095 X 5,765 14,305 X 5,000 X Purchase Journal Page 20 Credits Debits Other Accounts Date 3-Oct 11-Oct 20-Oct 31-Oct Supplier (Vendor) Account Credited Ref Terms 458 2/10, n/30 360 n,30 511 2/10, n/30 Tree LLC Daily News Tree LLC Totals Accounts Payable 18,600 75 20,000 38,675 X Post Ref. 205 278 205 Inventory 18,600 Account Title Post Ref. Advertising Expense 6010 Amount 75 Enter GL account number 20,000 38,600 X 75 X Enter subsidiary ledger account numbers when you post Cash Payments (Disbursements) Journal Page 43 Credit Debits Date 1-Oct 4-Oct 7-Oct 10-Oct 11-Oct 13-Oct 20-Oct 20-Oct 25-Oct Ck No. 149 150 151 152 153 154 155 156 157 31-Oct 31-Oct 159 Totals Account Debited Prepaid Rent Prepaid Gas and Oil Office Supplies Tree LLC Professional Fees Expense Inventory Cost of Land Prepaid Gas and Oil Subcontractor Expense Post Ref. 1045 1035 1030 205 6080 1060 1090 1035 6100 Nick Roberts, Withdrawal 3030 Other Accounts Accounts Payable Inventory 1,500 140 210 18,600 800 85 6,000 410 2,000 Cash 1,500 140 210 18,600 800 85 6,000 410 2,000 Debit Prepaid Gas and Oil. You will do an AJE to expense the portion used. Debit the asset, Office Supplies. You will do an AJE to expense the portion used. This is not a payment on account. Debit the inventory account. Land-clearing costs must be added to the cost of Land (not Land improvement) Debit Prepaid Gas and Oil. You will do an AJE to expense the portion used. Remove this entry. It is part of the 10/31 trade entry in the GJ 1500 12,560 X 18,600 X 1,500 12,645 X GENERAL JOURNAL Date Account Titles and Explanation 31-Oct Allowance Account Hyde, Inc Accounts Receivable 28-Oct Cash Notes Recievable Post Ref 1020.2 111 1020 Debit 1,135 1010 1028 24,600 31-Oct Truck Depreciation Expense Accumulated depreciation 31-Oct Cash Truck Depreciation Expense Accumulated depreciation 1,135 1,135 24,600 3,600 1010 1080 1080.2 19,800 18,000 1,800 14,200 14,200 6040 1040 550 6020 1085.1 2,280 31-Oct Gas and Oil Expense Prepaid Gas and Oil 6030 1035 300 31-Oct Office Supplies Expense Office Supplies 6060 1030 100 31-Oct Cost of Goods Sold Inventory 5000 1060 11,735 31-Oct Interest Expense Interest Payable 6050 2030 809 31-Oct Rent Expense Prepaid Rent Expense 6090 1045 1,500 31-Oct Interest Recievable 1025 825 31-Oct Depreciation Expense Accumulated Depreciation - Equipment Credit 3,600 31-Oct Cash Truck 31-Oct Insurance Expense Prepaid Insurance Pg 101 550 2,280 300 100 11,735 809 1,500 Interest Revenue 4020 31-Oct Uncollectible Account Expense Sales Revenue 6110 4010 31-Oct Income Tax Expense 6035 825 750 750 See text page 367 for write-off. You must DR the allowance account In addition to CR Hyde, you must CR the accounts receivable account. Otherwise, you subsidiary ledger will not match your control account. Move the 10/28 sale in exchange for a note from the CRJ to the GJ. In additiona to reporting the Note Rec and the sale, you will also update inventory and the COGS. See the module handout and page 419 of your text to help you with the trade. The first thing to do is to update your truck depreciation expense and accumulated depreciation for one year of usage. 18000/5. Post the entry to update your accumulated depreciation account The second part of the entry requires you to remove the old truck and old accumulated depreciation (close the accounts) and r of the old truck plus the 7000 cash paid. Note Rec and the tion (close the accounts) and report the 7000 payment of cash. The cost (debit) of the new truck will be the net book value et book value GENERAL LEDGER Account Title: Date Explanation Balance Forward 31-Oct 31-Oct 31-Oct Cash Post Ref DEBIT CR10 CD48 GJ 1010 CREDIT 23,995 12,645 24,600 BALANCE 21,265 45,260 CRJ error 32,615 CDJ error 8,015 Missing GJ entry 31-Oct GJ 19800 27,815 31-Oct GJ 14200 42,015 Account Title: Date Explanation Balance Forward 31-Oct Accounts Receivable Post Ref DEBIT S4 1020 CREDIT 6,100 BALANCE 1,135 7,235 31-Oct CR10 5,000 2,235 31-Oct GJ 1,135 1,100 Missing GJ entry to write-off Account Title: Allowance for Doubtful Accounts Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct GJ 1020.1 BALANCE 1,000 2,135 Missing GJ entry 1,135 to write-off AR Account Title: Date Explanation Balance Forward 31-Oct Account Title: Date Explanation Balance Forward 31-Oct Interest Receivable Post Ref DEBIT GJ CREDIT 24,600 BALANCE 825 825 Note Receivable Post Ref DEBIT GJ 1025 1028 CREDIT BALANCE 24,600 Missing GJ entry for sale on NR Account Title: Date Explanation Balance Forward 7-Oct 31-Oct Account Title: Date Explanation Balance Forward 4-Oct Office Supplies Post Ref DEBIT CD43 1030 CREDIT 210 GJ 100 Prepaid Gas and Oil Post Ref DEBIT BALANCE 575 785 CDJ error 685 1035 CD43 140 BALANCE 5,900 6,040 CDJ error 20-Oct CD43 410 6,450 CDJ error 31-Oct GJ Account Title: Date Explanation Balance Forward 31-Oct Account Title: Date Explanation Balance Forward 1-Oct 31-Oct Account Title: Date Explanation Balance Forward 31-Oct 300 Prepaid Insurance Post Ref DEBIT GJ CREDIT S4 BALANCE 1,500 1500 Inventory Post Ref DEBIT BALANCE 1,100 550 1045 1,500 GJ 6,150 1040 CREDIT 550 Prepaid Rent Post Ref DEBIT CD48 CREDIT - 1060 CREDIT 3250 BALANCE 25,000 21,750 CRJ error 31-Oct P20 13-Oct CD43 38,600 85 38,600 38,685 CDJ error 31-Oct GJ 11,735 26,950 CDJ error for freight GJ error sale on NR Account Title: Date Explanation Truck Post Ref DEBIT 1080 CREDIT Balance Forward 31-Oct 31-Oct 18,000 GJ GJ 18,000 14,200 Account Title: Accumulated Depreciation -Truck Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct 31-Oct BALANCE - GJ entry to remove old truck 14,200 GJ entry to add new tr 1080.1 BALANCE 5,400 GJ GJ 3,600 1,800 1,800 A CDJ entry will - not affect this account You are missing 2 GJ entries Account Title: Date Explanation Equipment Post Ref DEBIT 1085 CREDIT Balance Forward BALANCE 11,400 1085.1 Account Title: Accumulated Depreciation - Equipment Date Explanation Post Ref DEBIT CREDIT Balance Forward 31-Oct GJ 2280 BALANCE 4,420 2,140 Account Title: Date Explanation Balance Forward 20-Oct BALANCE 81,000 87,000 CDJ error Account Title: Land Post Ref DEBIT CD43 6,000 Land Improvements 1090 CREDIT 1095 Date Explanation Balance Forward Post Ref DEBIT CREDIT BALANCE - CDJ error Account Title: Date Explanation Balance Forward 31-Oct 31-Oct Accounts Payable Post Ref DEBIT P20 CD48 2010 CREDIT 38,675 18,600 BALANCE 4,399 (34,276) CR + CR = CR (15,676) CDJ error. The 85 is not a payment on account Account Title: Date Explanation Balance Forward Income Tax Payable Post Ref DEBIT Account Title: Date Explanation Balance Forward 31-Oct Interest Payable Post Ref DEBIT 2020 CREDIT BALANCE - GJ Account Title: Date Explanation Balance Forward Unearned Revenue Post Ref DEBIT Account Title: Date Explanation Balance Forward Note Payable Post Ref DEBIT 2030 CREDIT 809 BALANCE 809 2040 CREDIT BALANCE 1,000 2070 CREDIT BALANCE 55,000 GJ entry error. This is a Note RECEIVAB Account Title: Date Explanation Balance Forward Account Title: Date Nick Roberts, Capital Post Ref DEBIT 3010 CREDIT 3030 Nick Roberts, Withdrawal Explanation Balance Forward 31-Oct Post Ref CD48 DEBIT BALANCE 10,741 CREDIT 1,500 BALANCE 1,500 entry to write-off Account Title: Date Explanation Income Summary Post Ref DEBIT 3090 CREDIT BALANCE Balance Forward 31-Oct Account Title: Date Explanation Sales Revenue Post Ref DEBIT 4010 CREDIT Balance Forward 31-Oct 31-Oct 31-Oct Account Title: Date Explanation Balance Forward 31-Oct BALANCE 162,000 S4 CR10 GJ 6,100 19,095 750 Sales Discounts Post Ref DEBIT CR10 100 155,900 136,805 136,055 Missing 10/28 GJ entry 4010.1 CREDIT BALANCE 750 850 CRJ error Account Title: Date Explanation Balance Forward Account Title: Date Sales Returns and Allowances Post Ref DEBIT CREDIT 31-Oct Post Ref DEBIT CREDIT GJ Explanation 825 Date Explanation Balance Forward 11-Oct CREDIT Date 31-Oct 31-Oct 3,250 14,305 11,735 Explanation Balance Forward BALANCE 72,250 86,555 98,290 6010 Advertising Expense Post Ref DEBIT P20 Account Title: 825 69,000 S4 CR10 GJ Account Title: BALANCE 5000 Cost of Goods Sold Post Ref DEBIT Balance Forward 31-Oct 31-Oct 31-Oct BALANCE 500 4020 Interest Revenue Explanation Balance Forward Account Title: Date 4010.2 CREDIT 75 6020 Depreciation Expense Post Ref GJ GJ DEBIT 3,600 2,280 BALANCE 1,345 1,420 CREDIT BALANCE 3,600 Missing GJ entry 5,880 Account Title: Date Explanation Gas and Oil Expense Post Ref DEBIT 6030 CREDIT BALANCE Balance Forward 31-Oct GJ 300 CDJ error 300 CDJ error o remove old truck Account Title: Date Explanation Income Tax Expense Post Ref DEBIT 6035 CREDIT BALANCE Balance Forward 31-Oct GJ Account Title: Date Explanation 12,000 Insurance Expense Post Ref DEBIT 12,000 6040 CREDIT BALANCE Balance Forward 31-Oct GJ Account Title: Date Explanation Balance Forward 31-Oct Explanation Balance Forward 31-Oct Explanation Balance Forward 550 6050 Interest Expense Post Ref DEBIT CREDIT 6060 Office Supplies Expense Post Ref DEBIT CREDIT DEBIT BALANCE 100 CDJ error 100 6070 Phone Expense Post Ref BALANCE 809 809 GJ Account Title: Date 550 GJ Account Title: Date - CREDIT BALANCE 2,990 Account Title: Date Explanation Balance Forward 11-Oct Date Post Ref DEBIT CD48 Account Title: Explanation Balance Forward 31-Oct CREDIT 800 Post Ref GJ DEBIT Account Title: Date Explanation Balance Forward 31-Oct Uncollectible Account Expense Post Ref DEBIT GJ CREDIT 6100 CREDIT 2,000 750 BALANCE 1,500 1500 Subcontractor Expense Post Ref DEBIT CD48 BALANCE 3,300 4,100 6090 Rent Expense Account Title: Date Explanation Balance Forward 25-Oct rror. This is a Note RECEIVABLE (DR) 6080 Professional Fees Expense BALANCE 700 2,700 6110 CREDIT BALANCE 750 GJ error Missing 10/28 GJ entry Missing GJ entry Robert's Lawn Service Unadjusted Trial Balance October 31, 20-Debit 1010 1020 1020.1 1028 1030 1035 1040 1045 1060 1080 1085 1085.1 1090 2040 2070 3010 3030 4010 4010.1 4010.2 5000 6010 6020 6070 6080 6100 Totals Cash Accounts Receivable Allowance for Doubtful Accounts Notes Recieveable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck Equipment Accumulated Depreciation - Equipment Land Unearned Revenue Notes Payable Nick Roberts, Capital Nick Roberts, Withdrawal Sales Revenue Sales Discounts Sales Returns and Allowances Cost of Goods Sold Advertising Expense Depreciation Expense Phone Expense Professional Fees Expense Subcontractor Expense Totals Credit 42,015 1,100 2,135 24,600 785 6,450 1,100 1,500 38,685 14,200 11,400 4,420 87,000 1,000 55,000 10,741 1,500 136,805 850 500 86,555 1,420 3,600 2,990 4,100 2,700 335,185 207,966 670,370 415,932 (254,438) Accounts Receivable Subsidiary Ledger Miles, Co Date Jrnl Ref 12-Oct S 14-Oct CR 101 Debit Credit Balance 5,000 5,000 - 5,000 Local Community College Date Jrnl Ref 27-Oct S 109 Debit Credit Balance 1,100 1,100 Hyde, Inc Date Jrnl Ref Balance Forward 31-Oct GJ 111 Debit Credit Balance 1,135 - 1,135 Weston Place Date Jrnl Ref Balance Forward 120 Debit Credit Balance 1,000 Note: Weston's balance is an unearned deposit for services to be rendered (1,000) Accounts Payable Subsidiary Ledger Trees LLC Date Jrnl Ref 3-Oct P20 20-Oct P20 10-Oct CD43 205 Debit Credit Balance 18,600 20,000 18,600 -1,400 17,200 18,600 Daily News Date Jrnl Ref 11-Oct P20 278 Debit Credit Balance 75 75 Bill's Repair Date Jrnl Ref 30-Sep P19 293 Debit Credit Balance 4,399 4,399 Provide a Reflection statement. The reflection should address what you knew coming into this lear gained by doing the work in this learning plan and what areas you feel require additional study. Als difficulties that you had while completing Part A. This project was something I was familiar with as it was what I had to do in Accounting 1, and also in my Microcomputer Accou few things I get confused on when posting entries to the journals. The truck trade in entry confused me alone with the excava charge. There were no accounts for them, so was I suppose to put it in the General Journal? I feel like I understand the totalin journals and posting to the subsidiary ledgers. I also feel comfortable with creating the unadjusted trial balance as you only us balances. What I would get wrong probably though in those parts of the activity is if I from the beginning posted to the wrong the wrong accounts. I am a little nervous on the three entrys about that I was confused on, but I used by book and the practic my hardest. Looking forward to seeing how I did and just going back and making the corrections and learning from my mistake ew coming into this learning plan, what you re additional study. Also address any o in my Microcomputer Accounting Class. There are a sed me alone with the excavating bill and the freight el like I understand the totaling of the columns in the ed trial balance as you only use accounts with eginning posted to the wrong journals and recorded to used by book and the practice sample given and tried and learning from my mistakes. I love your attitude (learning from your mistakes) Though these projects are assessments, they are also an opportunity to grow. Worksheet Robert's Lawn Service October 31, 20-Unadjusted Trial Balance Account Titles Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Note Receivable Office Supplies Prepaid Gas and Oil Prepaid Insurance Prepaid Rent Inventory Truck Accumulated Depreciation -Truck Equipment Accumulated Depreciation - Equipment Land Land Improvements Accounts Payable Income Tax Payable Interest Payable Unearned Revenue Note Payable Nick Roberts, Capital Nick Roberts, Withdrawal Sales Revenue Sales Discounts Sales Returns and Allowances Interest Revenue Cost of Goods Sold Advertising Expense Depreciation Expense Gas and Oil Expense Income Tax Expense Insurance Expense Interest Expense Office Supplies Expense Phone Expense Professional Fees Expense Rent Expense Subcontractor Expense Uncollectible Account Expense Totals Net Income Debit 42,015 Adjusted Trial Balance Adjustments Credit Debit Credit 1,100 2,135 Debit 42,015 1,100 2,135 825 825 24,600 24,600 785 6,450 100 300 685 6,150 1,100 1,500 550 1,500 550 38,685 14,200 11,735 26,950 14,200 11,400 11,400 4,420 2,280 87,000 2,140 87,000 (15,676) (15,676) 809 1,000 809 1,000 55,000 10,741 55,000 10,741 1,500 1,500 136,805 750 850 500 136,055 850 500 825 86,555 1,420 3,600 98,290 2,280 1,420 5,880 300 12,000 300 12,000 550 809 550 809 100 100 2,990 4,100 1,500 4,100 1,500 2,700 750 750 2,700 192,290 825 11,735 2,990 335,185 Income Statement Credit 18,849 18,849 351,849 190,894 Debit Credit Balance Sheet Debit Credit Robert's Lawn Service Adjusted Trial Balance October 31, 20-Debit Credit Provide a Reflection statement. The reflection should address what you knew coming into this l gained by doing the work in this learning plan and what areas you feel require additional study. difficulties that you had while completing Part B. ew coming into this learning plan, what you re additional study. Also address any Robert's Lawn Service Robert's Lawn Service Robert's Lawn Service Calculate the current ratio Robert's Lawn Service Post-Closing Trial Balance October 31, 20-Debit Credit Schedule of Accounts Receivable October 31, 20-- Schedule of Accounts Payable October 31, 20-- Provide a Reflection statement. The reflection should address what you knew coming into this l gained by doing the work in this learning plan and what areas you feel require additional study. difficulties that you had while completing Part C. ew coming into this learning plan, what you re additional study. Also address any