October Accounts Payable Charges Summary Report 10/3 Bought spa supplies on account from Spa Supplies, Inc., Inv. No. 904 10/5 Bought office equipment on account from Office Equipment Company, Inv. No. 4315 $685.00 $520.00 10/5 Bought advertising pamphlets on account from Adco, Inc., Inv. No. 215 $415.00 10/5 Bought office equipment on account from Office Equipment, Company, Inv. No. 4445 $825.00 10/5 Bought office supplies on account from Office Staples, Inv. No. 222 $125.00 October Sales to Customers on Account Summary Report 10/7 Jill Anson 10/14 Jack Morgan 10/21 Tory Ligman 10/31 Judy Wilcox $350.00 $468.00 $345.00 $110.00 All About You Required 1. Journalize the transactions for October (in date order) in the general journal. -If you are using GL, review the instructions for the program on the textbook website. If you are preparing the journal entries manually, enter your transactions beginning on page 1. 2. Post the entries to the general ledger accounts. -Ignore this step if you are using CLGL. 3. Prepare a trial balance as of October 31, 20--. 4. Prepare an income statement for the month ended October 31, 20--. 5. Prepare a statement of owner's equity for the month ended October 31, 20--. 6. Prepare a balance sheet as of October 31, 20--. *If you are using CLGL, use the year 2020 when recording journal entries and preparing reports. Note: The trial balance and financial statements are unadjusted. In the next chapter, you will learn that certain accounts need to be adjusted. These adjustments will change some of the figures in these reports. Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202 CONTINUING PROBLEM 145 144 CONTINUING PROBLEM The basis of your entries will be the following documents: Checkbook Entries (Deposits made and checks written) Check Check All About You No. Date Explanation Deposits Amount 10/1 Invested cash in business. 25,000.00 2011 10/3 Bought 6-month liability insurance policy. 2012 10/3 Bought spa equipment from Spa 840.00 3,000.00 Equipment, Inc., for $5,550, putting $3,000 cash down. 2013 10/3 Paid June rent. 2014 10/5 Bought office supplies. 2015 10/5 Purchased promotional items (flowers 1,000.00 230.00 115.00 and balloons) for grand opening. 2016 10/7 Paid first week's wages. 2,075.00 10/7 Deposited first week's cash revenue. 3,465.00 2017 10/11 Paid on account payable for spa 1000.00 equipment (October 3). 10/14 Deposited second week's cash revenue. 3,307.00 2018 10/14 Paid second week's wages. 2,075.00 2019 10/18 Paid on account for spa equipment 1,200.00 (October 3). 10/21 Deposited third week's cash revenue. 4,587.00 2020 10/21 Paid third week's wages. 2,075.00 2021 10/25 Paid on account for spa equipment 350.00 (October 3). 2022 10/28 Paid fourth week's wages. 2,075.00 2023 10/28 Paid month's laundry bill. 105.00 2024 10/31 Deposited end of month's cash revenue. 10/31 A. Valli withdrew $1,500 for personal 6,588.00 1,500.00 use. 2025 10/31 Paid October telephone bill. 2026 10/31 Paid October power and water bill. 325.00 385.00 Other information that require journal entries: Receipt 10/1 A. Valli, owner of All About You Spa, invested her personal spa equipment $3,575.00 (Continued) Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202