I'd like someone to go over my work and let me know what I need to fix. I did pretty much everything but I am afraid that it's far from being good.

Asset Accounts Acct # Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipment Misc. Supplies Accounts Receivable Accumulated Depreciation Merchandise Inventory 101 102 103 104 105 106 107 108 109 This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Liability Accounts Equity Accounts Acct # Notes Payable Accounts Payable Wages Payable Interest Payable he appropriate accounts to record to as you are analyzing and is nothing to complete on this page; this is simply a resource for you. 201 Common Stock 202 Dividends 203 204 Revenue Accounts Bakery Sales Merchandise Sales Expense Accounts Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Misc. Supplies Expense Cost of Goods Sold s Acct # 301 302 ts Acct # 401 402 ts Acct # 501 502 503 504 505 506 507 508 509 510 511 512 Peyton Approved General Journal Entries Jul-14 Date Accounts Debit 1-Jul Cash 15,000.00 Common Stock Contributed cash for common stock 1-Jul Purchases baking supplies 8,500.00 Accounts PayableVendor 3-Jul Cash 10,000.00 Notes Payable To record two-year 6% noted payable issued 7-Jul Rent Expense 3,000.00 Cash 10-Jul Business License 375.00 Cash To record purchase of business license 11-Jul Miscellaneous Expense 250.00 Cash To record purchase of cash register 13-Jul Baking Equipment 5,000.00 Common Stock To record transfer of baking equipment to business 13-Jul Advertising Expense 200.00 Cash To record advertising expense incurred 14-Jul Miscellaneous Supplies 300.00 Cash 31-Jul Prepaid Insurance 1,200.00 Cash To record telephone bill 31-Jul To record accrue wages 31-Jul Total Service Revenue 15,000.00 Cash Accounts Receivable Credit 15,000.00 8,500.00 10,000.00 3,000.00 375.00 250.00 5,000.00 200.00 300.00 1,200.00 10,000.00 5,000.00 Peyton Approved General Journal Entries Aug-14 Date Accounts 5-Aug Salaries Expense Cash 8-Aug Service Revenue Accounts Receivable 10-Aug Telephone Expense Cash 15-Aug Purchase baking supplies Accounts Payable 15-Aug To record accrue wages 15-Aug Rent Expense CashRevenue Service 18-Aug Service Revenue Accounts Receivable 20-Aug Accounts PayableLoan Cash 20-Aug Salaries Expense Cash 22-Aug Miscellaneous Supplies Cash 31-Aug To record accrue wages 31-Aug To record telephone bill 31-Aug Total Service Revenue Cash Accounts Receivable Debit 120.00 3,200.00 45.00 5,000.00 1,500.00 1,000.00 8,500.00 480.00 300.00 20,000.00 Credit 120.00 3,200.00 45.00 5,000.00 1,500.00 1,000.00 8,500.00 480.00 300.00 12,500.00 7,500.00 Peyton Approved General Journal Entries Sep-14 Date Accounts 1-Sep Dividends Cash 5-Sep Salaries Expense Cash 7-Sep Merchandise Inventory Cash 8-Sep Service Revenue Accounts Receivable 10-Sep Telephone Expense Cash 11-Sep Purchase baking supplies Accounts Payable 13-Sep Account Payable Cash 15-Sep To record accrue wages 15-Sep Rent Expenses Cash 15-Sep Accrue Wages 15-Sep Merchandise Sales Revenue Cash 15-Sep Cost of Goods Sold Merchandise Inventory 20-Sep Salaries Expense Cash 24-Sep Merchandise Sales Revenue Cash 24-Sep Cost of Goods Sold Merchandise Inventory 30-Sep Merchandise Inventory Cash 30-Sep Accrue Wages 30-Sep Total Service Revenue Cash Accounts Receivable Debit 3,000.00 Credit 3,000.00 420.00 420.00 60.00 60.00 4,000.00 4,000.00 45.00 45.00 7,000.00 7,000.00 5,000.00 5,000.00 1,500.00 1,500.00 68.00 68.00 48.00 48.00 456.00 456.00 156.00 156.00 109.60 109.60 151.25 151.25 480.00 25,000.00 19,000.00 6,000.00 FIFO Date 7-Sep Purchases 10 $ 6.00 $ Sales 60.00 15-Sep 20-Sep 8 $ 20 $ 6.10 $ 55 LIFO 7-Sep 6.05 $ 151.25 $ 333.25 Purchases 10 $ 6.00 $ 6.10 $ 6.05 $ $ 12.00 97.60 109.60 157.60 4 4 25 29 29 10 6.00 $ 48.00 122.00 151.25 2 2 20 22 18 $ 25 $ 6.00 $ 6.10 $ $ 60.00 24-Sep 30-Sep 26 8 $ 20 $ 2 Sales 15-Sep 20-Sep 48.00 2 20 22 2 $ 16 $ 25 $ 6.00 $ 122.00 24-Sep 30-Sep 10 6.10 $ 109.80 2 2 4 2 2 25 55 weighted average 7-Sep $ Purchases 10 $ 6.00 $ 333.25 6.10 $ 55 6.00 $ 48.00 6.05 $ 151.25 $ 333.25 2 2 20 22 18 $ 25 $ 29 29 10 122.00 24-Sep 30-Sep 157.80 60.00 8 $ 20 $ $ Sales 15-Sep 20-Sep 26 26 6.09 $ 109.62 4 157.62 4 25 29 $ Ending Inventory 6.00 $ 60.00 $ 6.00 $ 12.00 $ $ 6.00 $ 6.10 $ $ 12.00 122.00 134.00 $ 6.10 $ 24.40 $ $ 6.10 $ 6.05 $ $ $ 24.40 151.25 175.65 175.65 Ending Inventory $ 6.00 $ 60.00 $ 6.00 $ 6.00 $ 6.10 $ $ 12.00 122.00 134.00 $ $ 6.00 $ 6.10 $ $ 12.00 12.20 24.20 6.00 $ 6.10 $ 6.05 $ Dr 60.00 15-Sep Cash (8 x $8.50) Merchandise Sales Revenue Record sale of inventory 68.00 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Recorded the cost of goods sold 48.00 20-Sep Merchandise Inventory (20 x $6.10 ) Cash 122.00 24-Sep Cash (18 x 8.50) Merchandise Sales Revenue Record sale of inventory 153.00 24-Sep Cost of Goods Sold (2 x $6)+(16 x $6.10) Merchandise Inventory Recorded the cost of goods sold 109.60 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 12.00 $ $ $ $ $ 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 12.00 12.20 151.25 15-Sep Cash (8 x $8.50) Merchandise Sales Revenue Record sale of inventory 68.00 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale 48.00 20-Sep Merchandise Inventory (20 x $6.10) Cash 122.00 24-Sep Cash (18 x 8.50) 153.00 $ $ 175.45 175.45 Ending Inventory $ 6.00 $60 $ $ $ 6.00 $ 6.00 $ 6.10 $ $ $ $ $ 6.05 $ $ Merchandise Sales Revenue Record sale of inventory 24-Sep Cost of Goods Sold (18 x $6.10) Merchandise Inventory Record inventory reduction due to sale 109.80 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 7-Sep Merchandise Inventory (10 x $6) Cash Purchased inventory 60.00 12.00 12.00 122.00 per unit 134.00 $6.09 24.38 151.25 151.25 $5.22 15-Sep Cash (8 x $8.50) Merchandise Sales Revenue Record sale of inventory 68.00 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory Record inventory reduction due to sale 48.00 20-Sep Merchandise Inventory (20 x $6.10) Cash 122.00 24-Sep Cash (18 x 8.50) Merchandise Sales Revenue Record sale of inventory 153.00 24-Sep Cost of Goods Sold (18 x $6.09) Merchandise Inventory Record inventory reduction due to sale 109.62 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 Cr 60.00 68.00 ### 122.00 153.00 109.60 151.25 ### 68.00 ### 122.00 Purchases 9/7: 10 bottles purchased at $6 9/20: 20 bottles purchased at $6.10 9/30: 25 bottles purchased at $6.05 Sales - selling price, $8.50 a bottle 9/15: 8 bottles 9/24: 18 bottles 153.00 109.80 151.25 ### 68.00 ### 122.00 153.00 109.62 151.25 date 1-Jul 3-Jul 7-Jul 10-Jul 11-Jul 13-Jul 14-Jul 31-Jul 31-Jul 5-Aug 10-Aug 15-Aug 20-Aug 22-Aug 31-Aug 1-Sep 5-Sep 7-Sep 10-Sep 13-Sep 15-Sep 15-Sep 20-Sep 30-Sep 30-Sep Cash 15,000.00 10,000.00 3,000.00 375.00 250.00 200.00 300.00 1,200.00 10,000.00 120.00 45.00 1,500.00 8,500.00 300.00 12,500.00 3,000.00 420.00 60.00 45.00 5,000.00 date date 1-Jul 3-Jul 11-Sep 31-Jul 31-Aug 30-Sep Notes Payable 8500 8,500 10000 5000 7,000 -5,000 Accounts Rec. 5000 7500 6000 1,500.00 68.00 456.00 151.25 19,000.00 18500 date 20-Aug 15-Sep 38,211.00 (16,568.25) 11-Jul 54,779.25 Misc. expense 250 Baking equipment 5000 0 250 1-Jul 15-Aug 11-Sep Baking supplies 8500 5000 7,000 14-Jul 22-Aug 20,500 7-Jul Misc. supplies 300 300 600 Prepaid rent 1,500 Prepaid insurance 1,200 1,200 1,500 1-Jul 3-Jul Accounts payable 8500 8,500 10000 5000 20-Aug 15-Sep Salary and wages expense 5-Aug 120 20-Aug 480 11-Sep 7,000 5-Sep 20-Sep 420 456 (12,000) 10-Aug 10-Sep Telephone expense 45 45 1,476 1-Sep Dividends 3,000 90 3,000 1-Jul 15-Aug 11-Sep 14-Jul 22-Aug baking supplies expense 8500 5000 7,000 20,500 misc supplies expense 300 300 15-Sep 24-Sep COGS LIF0 48.00 109.80 600 Merchandise Sales Revenue 15,000 20,000 25,000 157.80 31-Jul 31-Aug 30-Sep 35,000.00 COGS Weighted Avg. 15-Sep 48.00 24-Sep 109.62 157.62 Business License exp 375 375 Common Stock 15,000 5,000 1-Jul 13-Jul 20,000 Insurance expense 1200 COMPLETION OF STEPS 1- 4 DELIVERABLE: CONGRATULATIONS! YOU ARE NOW READY TO SUBMIT YOUR WORKBOOK TO COMPLETE THE 3-3 CHECKPOINT REQUIREMENT 1200 Advertising expense 0 7-Jul 15-Aug 15-Sep Rent expense 3,000 1500 1500 6,000 Bakery Sales 15,000 20,000 25,000 31-Jul 31-Aug 30-Sep 60,000 Salaries and wages payable 120 5-Aug 480 20-Aug 420 456 5-Sep 20-Sep 1,476 depreciation expense acc dep 0 Interest expense Interest payable 0 adj 6% adj 15-Sep 24-Sep 0 COGS FIFO 48.00 109.60 0.06 157.60 7-Sep 20-Sep Merch. Inv. FIFO 60.00 122.00 7-Sep 20-Sep Merch. Inv. LIFO 60.00 122.00 60.00 122.00 30-Sep 151.25 333.25 30-Sep 151.25 333.25 151.25 SUBMIT YOUR Merch. Inv. Avg. 60.00 122.00 151.25 333.25 Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Misc. Supplies Accounts Receivable Notes Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense COGS Depreciation Expense Accumulated Depreciation Misc Supplies Expense* Interest Expense* Interest Payable* Peyton Approved Trial Balance 2014 Unadjusted trial balance Debit Credit 54,779.25 5,000.00 333.25 1,500.00 1,200.00 5,000.00 600.00 18,500.00 25,500.00 13,500.00 1,476.00 20,000.00 3,000.00 60,000.00 35,000.00 6,000.00 375.00 1,476.00 90.00 157.62 124,987.12 128,500.00 - *These accounts will not be utilized before the adjusting process. They should have zero balance in the unadjusted t Approved Balance 014 Adjusting entries Debit Credit Adjusted trial balance Debit Credit ### ### ### ### ### ### ### ### ### ### ### ### ### ### ### 20,500.00 1,200.00 250.00 900.00 ### ### 300.00 ### ### CONGRATULATIONS! YOU ARE NOW R WORKBOOK TO COMPLETE THE 4-3 CHECKP ### ### ### ### 208.33 208.33 22,158.33 COMPLETION OF STEPS 5-7 DELIVERABLE: 1,108.33 208.33 146,245.45 128,708.33 have zero balance in the unadjusted trial balance. N OF STEPS 5-7 DELIVERABLE: ULATIONS! YOU ARE NOW READY TO SUBMIT YOUR TO COMPLETE THE 4-3 CHECKPOINT REQUIREMENT Peyton Approved Adjusting Journal Entries 2014 Date Accounts 30-Sep Depreciation Expense accumulated depreciation 30-Sep Accrue interest note payable Interest earned 30-Sep Insurance Expense Prepaid Insurance 30-Sep Baking supplies expense Baking supplies expense 30-Sep Miscellaneous supplies expense Miscellaneous supplies expense Debit 208.33 Credit 208.33 50.00 50.00 300.00 1,200.00 20,500.00 20,500.00 250.00 250.00 Peyton Approved Income Statement For Qtr. Ending 9/30/2014 Peyton Approved Statement of Retained Earnings For Qtr. Ending 9/30/2014 Peyton Approved Balance Sheet As of September 30, 2014 Assets Peyton Approved Balance Sheet As of September 30, 2014 Liabilities and Owners' Equity Peyton Approved Closing Entries 9/30/2014 Date Accounts Debit Credit Peyton Approved Post Closing Trial Balance 9/30/2014 Account Unadjusted Trial Balance Debit adjusted Trial Balance Credit Peyton Approved Reversing Entries 9/30/2014 Date Accounts Debit Credit COMPLETION OF STEPS 8-11 DELIVERABLE: CONGRATULATIONS! YOU ARE NOW READY TO SUBMIT YOUR COMPLETED WORKBOOK (STEPS 1 - 11)TO COMPLETE THE 6-2 CHECKPOINT REQUIREMENT