intermediate accounting

CHARTS OF ACCOUNT ASSETS 101 - Cash 111 - Accounts Receivable 118 - TPS to receive 119 - TVQ to receive 121 - Merchandise Inventory 126 - Prepaid Insurance 127 - Prepaid Interest 129 - Supplies 131 - Store Equipment 132 - Accumulated Depreciation - Store Equipment 141 - Office Equipment 142 - Accumulated Depreciation - Office Equipment LIABILITIES 205 - Accounts Payable 216 - Bank Loan 218 - TPS to pay 219 - TVQ to pay CHARTS OF ACCOUNT OWNER'S EQUITY EXPENSE 301 - Max Ferraro, Capital 302 - Max Ferraro, Drawing 611 - Salaries Expense-Sales department 612 - Supplies Expense 614 - Advertising Expenses REVENUE 626 - Depreciation expense - Store Equipment 401 - Sales 451 - Sales returns and Allowances 493 - Miscellaneous Income 495 - Discount on sales COST OF GOODS SOLD 501 - Purchases 502 - Freight In 503 - Purchases Returns and Allowances 504 - Purchases Discounts 634 - Rent Expense 637 - Salaries Expense - Office department 639 - Insurance Expense 643 - Utilities Expense 649 - Telephone Expense 651 - Uncollectible Accounts Expense 657 - Bank Fees Expense 658 - Delivery Expense 659 - Depreciation Expense - Office Equipment 691 - Interest expense 693 - Miscellaneous Expense PURCHASES JOURNAL DATE SUPPLIER NAME TERMS AND INVOICE# POST PURCHASE DT FREIGHT DT PURCHASES RETURNS AND ALLOWANCES JOURNAL DATE SUPPLIER NAME CREDIT NOTE# / REF. INVOICE POST ACCOUNTS PAYABLE PURCHASE RETURN DT CT TPS TO RECEIVE DT TVQ TO RECEIVE DT ACCOUNTS PAYABLE CT DATE SUPPLIER NAME ES JOURNAL INVOICE # ACCOUNTS PAYABLE TVQ TO ALLOWANCESTPS TO RECEIVE RECEIVE CT CT CT NAME ADDRESS DATE DESCRIPTION ACCOUNTS PAYABLE NAME ADDRESS DATE DESCRIPTION CASH PAYMENT JOURNAL CHECK# POST PURCHASE DT FREIGHT DT TPS TO RECEIVE DT ACCOUNTS PAYABLE LEDGER TERMS BALANCE REF DEBIT CREDIT DEBIT CREDIT ACCOUNTS PAYABLE LEDGER TERMS BALANCE REF DEBIT CREDIT DEBIT CREDIT TVQ TO RECEIVE DT ACCOUNTS PAYABLE DT DISCOUNT ON PURCHASE CT BANK CT SALES JOURNAL DATE CLIENT NAME TERMS AND INVOICE# POST SALES CT OTHER CT SALES RETURNS AND ALLOWANCES JOURNAL DATE CLIENT NAME CREDIT NOTE# / REF. INVOICE POST ACCOUNTS RECEIVABLE CT SALES RETURN DT TPS TO PAY CT TVQ TO PAY CT ACCOUNTS RECEIVABLE DT DATE ES JOURNAL ALLOWANCES DT CLIENT NAME ACCOUNTS R TPS TO PAY DT TVQ TO PAY DT NAME ADDRESS DATE DESCRIPTION ACCOUNTS R NAME ADDRESS DATE DESCRIPTION CASH RECEIPTS JOURNAL INVOICE # CHECK# POST SALES CT OTHER CT TPS TO PAY TVQ TO PAY CT CT ACCOUNTS RECEIVABLE LEDGER BALANCE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT ACCOUNTS RECEIVABLE LEDGER BALANCE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT ACCOUNTS DISCOUNT RECEIVABLE ON SALES CT DT BANK DT GENERAL JOURNAL DATE DESCRIPTION REF. DEBIT PAGE 1 CREDIT GENERAL LEDGER ACCOUNT DATE ACCOUNT NO DESCRIPTION REF. DEBIT CREDIT BALANCE DEBIT GENERAL LEDGER ACCOUNT DATE ACCOUNT NO DESCRIPTION REF. DEBIT CREDIT BALANCE DEBIT GENERAL LEDGER ACCOUNT DATE ACCOUNT NO DESCRIPTION REF. DEBIT CREDIT BALANCE DEBIT GENERAL LEDGER ACCOUNT BALANCE CREDIT DATE DESCRIPTION REF. DEBIT GENERAL LEDGER ACCOUNT BALANCE CREDIT DATE DESCRIPTION REF. DEBIT GENERAL LEDGER ACCOUNT BALANCE CREDIT DATE DESCRIPTION REF. DEBIT ENERAL LEDGER G ACCOUNT NO CREDIT ACCOUNT BALANCE DEBIT CREDIT DATE DESCRIPTION ENERAL LEDGER G ACCOUNT NO CREDIT ACCOUNT BALANCE DEBIT CREDIT DATE DESCRIPTION ENERAL LEDGER G ACCOUNT NO CREDIT ACCOUNT BALANCE DEBIT CREDIT DATE DESCRIPTION GENERAL LEDGER ACCOUNT NO REF. DEBIT CREDIT BALANCE DEBIT CREDIT GENERAL LEDGER ACCOUNT NO REF. DEBIT CREDIT BALANCE DEBIT CREDIT GENERAL LEDGER ACCOUNT NO REF. DEBIT CREDIT BALANCE DEBIT CREDIT CHARTS OF ACCOUNT ASSETS 101 - Cash 111 - Accounts Receivable 118 - TPS to receive 119 - TVQ to receive 121 - Merchandise Inventory 126 - Prepaid Insurance 127 - Prepaid Interest 129 - Supplies 131 - Store Equipment 132 - Accumulated Depreciation - Store Equipment 141 - Office Equipment 142 - Accumulated Depreciation - Office Equipment LIABILITIES 205 - Accounts Payable 216 - Bank Loan 218 - TPS to pay 219 - TVQ to pay CHARTS OF ACCOUNT OWNER'S EQUITY EXPENSE 301 - Max Ferraro, Capital 302 - Max Ferraro, Drawing 611 - Salaries Expense-Sales department 612 - Supplies Expense 614 - Advertising Expenses REVENUE 626 - Depreciation expense - Store Equipment 401 - Sales 451 - Sales returns and Allowances 493 - Miscellaneous Income 495 - Discount on sales COST OF GOODS SOLD 501 - Purchases 502 - Freight In 503 - Purchases Returns and Allowances 504 - Purchases Discounts 634 - Rent Expense 637 - Salaries Expense - Office department 639 - Insurance Expense 643 - Utilities Expense 649 - Telephone Expense 651 - Uncollectible Accounts Expense 657 - Bank Fees Expense 658 - Delivery Expense 659 - Depreciation Expense - Office Equipment 691 - Interest expense 693 - Miscellaneous Expense EXERCISE - INTERMEDIATE ACCOUNTING INSTRUCTION 1) Record each transaction in the appropriate journal 2) Post in the appropriate ledger Transaction 1 Bank note Subject: Bank account opening and deposit Date: 4/1/2020 From: Max Ferraro Take note that I open a new bank account and I made a deposit of 75 500$ It came from my personal bank account, it's my starting investment Transaction 2 INVOICE NIKE Bill to Item N250 N300 Issued date June 1, 2020 Invoice number 1025 Terms 2%/10, NET 30 DAYS The shoe shop 37, rue Wellington Sherbrooke Quantity 20 15 Description Shoe Shoe Unit Price 75.95 $ 89.95 $ Amount 1,519.00 $ 1,349.25 $ Subtotal TPS TVQ Total 2,868.25 143.41 286.11 3,297.77 Transaction 3 ADIDAS INVOICE $ $ $ $ ADIDAS Bill to Item A95 A115 Issued date June 2, 2020 Invoice number 2895 Terms ON RECEPTION The shoe shop 37, rue Wellington Sherbrooke Quantity 10 12 Description Shoe Shoe Unit Price 105.95 $ 65.95 $ Amount 1,059.50 $ 791.40 $ Subtotal TPS TVQ Total 1,850.90 92.55 184.63 2,128.07 $ $ $ $ Transaction 4 The shoe shop 37, rue Wellington Sherbrooke DATE ADIDAS PAY TO $ Two thousand one hundred twenty eight and 07/100 Bank of Canada 210, King Street Sherbrooke MEMO invoice 2895 SIGNATURE Transaction 5 THE SHOE SHOP 37, rue Wellington N Sherbrooke Bill to William Stratford 1155, Prospect Street Sherbrooke INVOICE Issued date June 3, 2020 Invoice number 1 Terms Net 30 days Item S80 S98 Quantity 5 5 Description Shoe Shoe Unit Price 105.95 $ 65.95 $ Amount 529.75 $ 329.75 $ Subtotal TPS TVQ Total 859.50 42.98 85.74 988.21 $ $ $ $ Transaction 6 INVOICE PUMA Bill to Item P15 P35 Issued date June 5, 2020 Invoice number 6585 Terms Net 30 days The shoe shop 37, rue Wellington Sherbrooke Quantity 8 10 Description Shoe Shoe Unit Price 125.95 $ 99.95 $ Subtotal TPS TVQ Total Amount 1,007.60 $ 999.50 $ 2,007.10 100.36 200.21 2,307.66 Transaction 7 Note Subject: Purchase a car for the business Date: 4/8/2020 From: Max Ferraro A signed a contrat for a bank loan for a business car. The invoice total is 20 000$ $ $ $ $ (including taxes) Transaction 8 INVOICE THE SHOE SHOP 37, rue Wellington N Sherbrooke Bill to Issued date June 9, 2020 Invoice number 2 Terms 2%/10, net 30 days Bill Hurton 85, Portland Boul. Sherbrooke Item S80 S98 Quantity 3 2 Description Shoe Shoe Unit Price 99.95 $ 79.95 $ Amount 299.85 $ 159.90 $ Subtotal TPS TVQ Total 459.75 22.99 45.86 528.60 $ $ $ $ Transaction 9 INVOICE THE SHOE SHOP 37, rue Wellington N Sherbrooke Bill to Item S80 S98 Issued date June 15, 2020 Invoice number 3 Terms Net 30 days William Stratford 1155, Prospect Street Sherbrooke Quantity 10 5 Description Shoe Shoe Unit Price 79.95 $ 65.95 $ Subtotal TPS TVQ Total Amount 799.50 $ 329.75 $ 1,129.25 56.46 112.64 1,298.36 $ $ $ $ Transaction 10 Bill Hurton 85, Portland Boul. Sherbrooke DATE The shoe shop PAY TO $ Bank of Canada 210, King Street Sherbrooke MEMO SIGNATURE Transaction 11 INVOICE Hamster Bill to Item Issued date June 20, 2020 Invoice number 356 Terms Net 30 days The shoe shop 37, rue Wellington Sherbrooke Quantity 2 4 Description Desk Chair Store equipment for the business Transaction 12 Unit Price 500.00 $ 150.00 $ Subtotal TPS TVQ Total Amount 1,000.00 $ 600.00 $ 1,600.00 80.00 159.60 1,839.60 $ $ $ $ CREDIT NOTE THE SHOE SHOP 37, rue Wellington N Sherbrooke Bill to Item S80 Issued date Credit number Terms June 20, 2020 CR-3 Net 30 days William Stratford 1155, Prospect Street Sherbrooke Quantity 2 Description Returned shoe 79.95 $ Subtotal TPS TVQ Total Credit 159.90 $ 159.90 8.00 15.95 183.85 $ $ $ $ Transaction 13 Bank note Subject: Bank account fees Date: 4/30/2020 From: Bank The bank took the monthly fees directly in your bank account for an amount of 15,00$ (no taxes on a bank fee) NO.200 02-06-2020 2128.07 DOLLARS NO.25 19-06-2020 DOLLARS