On May 31 2021, Randy Conway of Conway Uniforms began preparing his year end. Randy hadn't completed his journal entries in May, they are: Coway did a physical count of their inventory. They had 210 uniforme 01-May that they originally purchased for S18. No journal entry required 03-May Lendrum paid their balance in full Deposits 04-May Purchased 70 uniforms for $26 cach to tell as inventory Chegue 06-May Purchased Office Supplies for S1.130 Cheque 10 08-May Sold 130 uniforms to Lendrum for $40 a unit. 1/10. 130. FOB Shipping L1-May Purchased 150 uniforms for $2 each to resell as inventory Cheque 11 13-May Sold 135 uniforms to Norton Electric for 540 a unit Cash Deposit 6 Deposit 15-May Purchased a one day insurance premium on a trip for $40 Cheque 12 18-May Starburst paid a portion of their hill of S10,000 Deposit 7 20-May Paid out mileage expense for 750km 50.60 per Cheque 13 22-May Purchased 310 uniforms for $25 cach to resell as inventory Cheque 14 25-May Sold 60 uniforms to Sharp Co. for $40 a unit 1/10.30. FOB Shipping 28-May Withdrew SINO cash Cheque 15 Dinwoody Fintertainment put a deposit down for uniforms to be 31. May ordered next month of $1,400. Deposit Deposit The adjusting entries are also required: 31-May. The inventory of office supplies was at 360 according to a count 31-May Two months of the prepaid insurance has passed. I remain Five months have passed for office equipment depreciation which has a 10-year 31-May life with no residual value 31-May Donald Gee is owed 5 days work 31-May Bad Debt Allowance Adjustment The bank statement for May 2021 was: MAY 2021 BANK STATEMENT Date Cheque/Deposit Amount Balance 01-Mayon 44.8901 03-May NSF Cheque - Starbus 2.000 42.890 05-May Deposits 6.680 49.520 08-May Cheque -1.820 47.750 10-May Cheque 10 -1,120 46,630) 14- May Dawit 6 5.400 52.030 18-May Deposit 7 10,000 62.030 21-May Cheque 13 450 61,50 31-May Interest Income 12 61.592) 31-May Bank Charges -35 61,557 There were no outstanding cheques or deposits in transit on the April bank reconciliation The Accounts Receivable balances and days since invoicing on April 30 were: Days since Accounts Receivable Invoicing Oldest Balance Kinsetta Groceries 2.260 Gillette Industries 4.480 Norton Electric 3.460 IWhistler Resort all = On May 31 2021, Randy Conway of Conway Uniforms began preparing his year end. Randy hadn't completed his journal entries in May, they are: Coway did a physical count of their inventory. They had 210 uniforme 01-May that they originally purchased for S18. No journal entry required 03-May Lendrum paid their balance in full Deposits 04-May Purchased 70 uniforms for $26 cach to tell as inventory Chegue 06-May Purchased Office Supplies for S1.130 Cheque 10 08-May Sold 130 uniforms to Lendrum for $40 a unit. 1/10. 130. FOB Shipping L1-May Purchased 150 uniforms for $2 each to resell as inventory Cheque 11 13-May Sold 135 uniforms to Norton Electric for 540 a unit Cash Deposit 6 Deposit 15-May Purchased a one day insurance premium on a trip for $40 Cheque 12 18-May Starburst paid a portion of their hill of S10,000 Deposit 7 20-May Paid out mileage expense for 750km 50.60 per Cheque 13 22-May Purchased 310 uniforms for $25 cach to resell as inventory Cheque 14 25-May Sold 60 uniforms to Sharp Co. for $40 a unit 1/10.30. FOB Shipping 28-May Withdrew SINO cash Cheque 15 Dinwoody Fintertainment put a deposit down for uniforms to be 31. May ordered next month of $1,400. Deposit Deposit The adjusting entries are also required: 31-May. The inventory of office supplies was at 360 according to a count 31-May Two months of the prepaid insurance has passed. I remain Five months have passed for office equipment depreciation which has a 10-year 31-May life with no residual value 31-May Donald Gee is owed 5 days work 31-May Bad Debt Allowance Adjustment The bank statement for May 2021 was: MAY 2021 BANK STATEMENT Date Cheque/Deposit Amount Balance 01-Mayon 44.8901 03-May NSF Cheque - Starbus 2.000 42.890 05-May Deposits 6.680 49.520 08-May Cheque -1.820 47.750 10-May Cheque 10 -1,120 46,630) 14- May Dawit 6 5.400 52.030 18-May Deposit 7 10,000 62.030 21-May Cheque 13 450 61,50 31-May Interest Income 12 61.592) 31-May Bank Charges -35 61,557 There were no outstanding cheques or deposits in transit on the April bank reconciliation The Accounts Receivable balances and days since invoicing on April 30 were: Days since Accounts Receivable Invoicing Oldest Balance Kinsetta Groceries 2.260 Gillette Industries 4.480 Norton Electric 3.460 IWhistler Resort all =
