Page of 100 - ZOOM + 101 111 112 120 128 131 135 Instructions: Chart of Accounts: You are the controller at Star W Name of Ac Number of Account was founded in galaxy far, far al Cash of $20. Currently, 9,500 shares Petty Cash 104 accounting records, financial staAccounts R support management at Star W Allowance 1 aspects of accounting, but ultim Notes Rece 115 calendar year-end (the books ar Interest Re Therefore, when you prepare th Inventory to complete this practice set, yc Supplies transactions have already been Prepaid Ins all transactions and adjustment Prepaid Rei balance, prepare the financial stOther Asset December 31, 2014. Land Buildings 140 The following information perta Accumulate 141 1. Star Wars, Inc. maintains inve Equipment first in, first out (FIFO) cost flo Accumulate 2. Purchases of inventory are reSpace Ships 155 The purchase terms are differe Accumulate 3. Sales on account are subject Notes Paya 200 4. The company utilizes a gener Accounts P. 201 in accounts payable and accou Salaries and 210 5. Salaried employees are paid FICA Taxes every two weeks. Each two weIncome Tax 6. The Company's chart of acco Federal Wit 213 7. The Company uses the Allow State With 214 of the fiscal year at 2% of net sFUTA Taxes 215 SUTA Taxes 216 Unearned 217 Interest Pa 225 Check Figures: Dividends F 146 147 156 211 212 226 Page of 100 - ZOOM + Check Figures: COGS Net Income Total Assets 225 226 230 232 233 300 301 305 310 315 320 401 402 403 500 Interest Pay Dividends F $ 4,276,644 Notes Paya $ 1,443,598 Bonds Paya $ 3,970,399 Discount or Common S1 Additional I Retained E Treasury St Dividends Income Sur Sales Rever Sales Retur Sales Disco Cost of Goc Advertising Bad Debt E Supplies Ex Repairs Exp Miscellane Depreciatic Insurance E Salaries an Rent Expen Payroll Tax Utilities Exp Interest Re Gain on Dis Interest Exp Loss on Dis Income Tax 601 603 605 606 607 608 609 610 611 700 701 800 801 900 Page of 100 - ZOOM + 126,850 1,787 LIABILITIES 9,573 2,486 400 2,600 113,000 275,000 6,400 Accounts Payable Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable State Withholding Taxes Payable FUTA Taxes Payable SUTA Taxes Payable Unearned Revenues Interest Payable Dividends Payable Notes Payable (long-term) Bonds Payable Discount on Bonds Payable > Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock . Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Advertising Expense Bad Debt Expense Supplies Expense Repairs Expense (Miscellaneous Expense Depreciation Expense Insurance Expense Salaries & Wages Expense Dont Cunanca 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 RATING EXPENSES 1,540 17,732 933,122 2 > of 100 - ZOOM + Page of 100 - ZOOM + K 3-Dec 6-Dec 6-Dec 6-Dec 7-Dec 7-Dec 7-Dec 9-Dec 10-Dec 10-Dec 10-Dec 11-Dec Page of 100 - ZOOM + 13-Dec 14-Dec 14-Dec 15-Dec 17-Dec 17-Dec 18-Dec 18-Dec 19-Dec 19-Dec 20-Dec Page of 100 - ZOOM + 20-Dec 20-Dec 21-Dec 21-Dec 21-Dec 24-Dec 26-Dec 26-Dec 26-Dec 27-Dec 27-Dec 27-Dec Page of 100 - ZOOM + 27-Dec 27-Dec 27-Dec 28-Dec 28-Dec 28-Dec 28-Dec 29-Dec 31-Dec 31-Dec 31-Dec 31-Dec Page of 100 - ZOOM + 31-Dec 31-Dec Adjusting Entries: Page of 100 - ZOOM + Closing Entries: Close Revenues, Contra-Revenues, and Gains here. You will need to close all the temporary accounts at the end of the accounting year. Use Income Summary as credit amount. Close Expenses and Losses here. Use Income Summary for debited amount. Close Income Summary to Retained Earnings here. Don't forget to post closing entries to G/L Use the yellow areas Totals Page of 100 - ZOOM + GENERAL LEDGE Note: GENERAL LEDGE Note: All amounts in italics are beginning balances at 12/1/2014 Cash Petty Cash Accounts Receivable 249,930 150 317,420 249,930 150 317,420 Interest Receivable Inventory Supplies 500,000 2,320 500,000 2,320 Other Assets (current) Land Buildings 145,000 43,000 306,000 145,000 43,000 306,000 Accum. Depr. - Equipment Space Ships Accum. Depr.- Space Ships 13,200 174,000 39,540 13,200 174,000 39,540 Allowance for Doubtful Accounts 4,580 4,580 Prepaid Insurance 11,020 11,020 Accum. Depr. - Building 73,040 73,040 Notes Payable (current) 15,000 15,000 Notes Receivable (current) 45,000 45,000 Prepaid Rent 25,410 25,410 Equipment 32,800 32.800 Accounts Payable 126,850 126,850 Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable 9,573 State Withholding Taxes Payable 2,486 1,787 9,573 nterest Payable Dividends Payable FUTA Taxes Payable 400 400 Bonds Payable 275,000 275,000 1,787 SUTA Taxes Payable 2,600 2,600 Discount on Bonds Payable 6,400 6,400 2,486 Notes Payable (long-term) 113,000 113,000 Retained Earnings 426,388 426,388 Common Stock 190,000 190,000 Additional Paid-n Capital, Common 255,400 255,400 Treasury Stock 42,610 42,610 Sales Revenue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 cino Page of 100 - ZOOM + x 275,000 275,000 6,400 6,400 190,000 190,000 255,400 255,400 426,388 426,388 Clo Treasury Stock 42,610 42,610 Sales Revenue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 5,234,940 Bad Debt Expense Bad Debt Fyn 3,648,722 Miscellaneous Expense Advertising Expense 6,578 6,578 9,380 Supplies Expense 1,540 1,540 73,044 Repairs Expense 17,732 17,732 6,578 Depreciation Expense 17,732 Rent Expense Insurance Expense 1,540 Salaries & Wages Expense 933,122 933,122 Payroll Tax Expense 82,916 82,916 933,122 Gain on Disposal of Assets 82,916 Loss on Disposal of Assets Interest Revenue Utilities Expense 16,270 16,270 3,150 3,150 Interest Expense 24,570 24,570 3,150 24,570 16,270 Income Tax Expense 72,000 If zero, then T-Accounts Balance T-Accounts Balance? Post-closing T-Accounts balance? If zero, then T-Accounts Balance 72,000 72,000 7 Page of 100 - ZOOM + italics are beginning balances at 12/1/2014 Accounts Receivable 317,420 317,420 Supplies 2,320 2,320 Buildings 306,000 306,000 Accum. Depr. - Space Ships 39,540 39,540 Allowance for Doubtful Accounts 4,580 4,580 Prepaid Insurance 11,020 11,020 Accum. Depr. - Building 73,040 73,040 Notes Payable (current) 15,000 15,000 Notes Receivable (current) 45,000 45,000 Prepaid Rent 25,410 25,410 Equipment 32,800 32,800 Accounts Payable 126,850 126,850 Income Taxes Payable Unearned Revenues Federal Withholding Taxes Payable 9,573 State Withholding Taxes Payable 2,486 1,787 9,573 Interest Payable Dividends Payable 1,787 yable 2,600 2,600 s Payable 2,486 Notes Payable (long-term) 113,000 113,000 Retained Earnings 426,388 426,388 Common Stock 190,000 190,000 Additional Paid-n Capital, Common 255,400 255,400 Closing nue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 52100 opon | 7201 7610 7221 Page of 100 - ZOOM + ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Note: All amounts in italics are beginning balances at 12/1/2014 Bosk Co. C3PO Co. Endor Ltd. Jabba's Huts, Incango Fett, Inc. 3,700 22,000 27,120 74,350 24,050 50,300 3,700 Princess Leia Co. 72,300 27,120 7 4,350 24,050 R2D2 ComputersStorm Troopers Unlim/ader Enterprise: Yoda, Inc. 95,900 20,000 95,900 - - 20,000 Wookie, Inc Total ending balance at 12/31/14 $ 317,420 Page of 100 - ZOOM + K ACCOUNTS PAYABLE SUBSIDIARY LEDGEI Note: All amounts in italics are beginning balances at 12/1/2014 Calrisian's Components Count Dooku Consulting Ewok Inc. Greedo Inc. 7,200 26,000 37,719 Hyperspace Unlimited 9,900 7,200 63,719 9,900 Land Speeder, Inc. Naboo Utilities Co. Palpatine Computing Co. Star Destroyer Repairs Tattooine Ltd. 35,545 35,545 Wamp Rat, Co. Naboo Stationery Co. 10,486 Total ending balance at 12/31/14 126,850 10,486 Page of 100 - ZOOM + Total Cost 230,000 84,000 130,000 56,000 Beginning balances as of 12/1/14 Purchase Date | # of Units Cost per Unit 4/17 Beginning Inventory 2,000 $ 115$ 6/1 Beginning Inventory 700 $ 120$ 8/22 Beginning Inventory 1,000 $ 130 $ 10/1 Beginning Inventory 400 $ 140 $ 12/2 Purchase 12/10 Purchase 12/19 Purchase 12/21 Purchase 12/28 Purchase Totals 4,100 500,000 # of Units 12/1 Sale 12/3 Sale 12/6 Sale 12/9 Sale 12/12 Sale 12/13 Sale 12/14 Sale 12/15 Sale 12/20 Sale 12/27 Sale 12/29 Sale Total units sold Cost of Goods Sold (Perpetual FIFO): Date of Sale Units Sold: Cost per Unit: Total Cost COGS from 1/1 to 11/30 $ 3,648,722 12/1 12/3 12/6 12/9 12/12 12/13 12/13 12/14 12/15 12/15 12/20 12/20 12/27 12/27 12/29 12/20 visuaisissau Updated Inventory Totals (after sales) | Hof Ilnite Icoct nor Initl Total Cost Durchaca Data Page of 100 - ZOOM + $ 3,648,722 12/1 Sale 12/3 Sale 12/6 Sale 12/9 Sale 12/12 Sale 12/13 Sale 12/14 Sale 12/15 Sale 12/20 Sale 12/27 Sale 12/29 Sale Total units sold COGS from 11 to 11730 12/1 12/3 12/6 12/9 12/12 12/13 12/13 12/14 12/15 12/15 12/20 12/20 12/27 12/27 12/29 12/29 12/29 - esas as es esas es esas es esas es esas as is Total Cost 230,000 84,000 130,000 56,000 Total COGS $ 3,648,722 m Updated Inventory Totals (after sales) Purchase Date # of Units Cost per Unit 4/17 Beginning Inventory 2,000 $ 115 $ 6/1 Beginning Inventory 700 $ 120$ 8/22 Beginning Inventory 1,000 $ 10/1 Beginning Inventory 400 $ 140 $ 12/2 Purchase 12/10 Purchase 12/19 Purchase 12/21 Purchase 12/28 Purchase Totals 4,100 $ uuuuuuu Balanced? (if 0 or -) 500,000 Page > of 100 - ZOOM + K Credit 4,580 Star Wars, Inc Trial Balance December 31, 2014 Accounts: Debit Cash 249,930 Petty Cash 150 Accounts Receivable 317,420 Allowance for Doubtful Accounts Notes Receivable (current) 45,000 Interest Receivable Inventory 500,000 Supplies 2,320 w Prepaid Insurance 11,020 Prepaid Rent 25,410 of 100 - ZOOM + Page of 100 - ZOOM + 113,000 275,000 6,400 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 OPERATING EXPENSESREV. EQUI MTCTT uyuvic Dividends Payable Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Advertising Expense Z Bad Debt Expense Supplies Expense X Repairs Expense Miscellaneous Expense Depreciation Expense Insurance Expense Salaries & Wages Expense Rent Expense Payroll Tax Expense Utilities Expense Interest Revenue Gain on Disposal of Fixed Assets Interest Expense 5 Loss on Disposal of Fixed Assets Income Tax Expense Totals 1,540 17,732 933,122 82,916 16,270 3,150 24,570 72,000 6,786,934 6,786,934 Page 0f 100 - ZOOM + Please Create An Income Statement, Statement of Stockholders' Equity and Balance Sheet in Good Form NOTE: You need to fill in the GREY areas with the correct numbers (use the ending balances sheet). Star Wars, Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2014 Star Wars, Inc. Income Statement Common Stock APIC Retained Earnings Treasury Stock Total Year Ended December 3' Balance, 1/1/2014 $ 190,000 $ 255,400 $ 426,388 $ (42,610) $ 829,178 Sales Revenue Stock Issuance Less: Sales Discounts Sales Returns & All Dividends Declared Net Sales F $ - Stock Repurchase Cost of Goods Sold Net Income Gross Mar Balance, 12/31/2014 $ 190,000 $ 255,400 $ 426,388 $ (42,610) $ 829,178 Operating Expenses: Salaries & Wages Expense Utilities Expense Advertising Expense Star Wars, Inc. Supplies Expense Balance Sheet Insurance Expense December 31, 2014 Repairs Expense Assets: Payroll Tax Expense Current Assets Rent Expense Cash (including petty cash) Bad Debt Expense Accounts Receivable (Net of Allowance) Remember to net the A/R account and the Depreciation Expense Notes Receivable (current) Account!! Miscellaneous Expense Interest Receivable Total Ope Inventory Supplies Operating Prepaid Insurance Page of 100 - ZOOM + Remember to net the A/R account and the Account!! $ - Land Enter Accumulated Depreciation as a Ne Repairs Expense Assets: Payroll Tax Expense Current Assets Rent Expense Cash (including petty cash) Bad Debt Expense Accounts Receivable (Net of Allowance) Depreciation Expense Notes Receivable (current) Miscellaneous Expense Interest Receivable Total Ope Inventory Supplies Operating Prepaid Insurance Prepaid Rent Other Income and (Expenses) Other Assets (current) Interest Revenue Total Current Assets Gain on Disposal Property, Plant, and Equipment Loss on Disposal Interest Expense Space Ships Less: Accum. Depr.- Space Ships Income Be Equipment Less: Accum. Depr. - Equipment Income Ta 72,000 Buildings Less: Accum. Depr. - Buildings Net Income $ (72,000) Property, Plant, and Equipment, net Total Assets Liabilities: Current Liabilities Notes Payable (current) Accounts Payable Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable State Withholding Taxes Payable Unearned Revenues Enter Accumulated Depreciation as a Ne Enter Accumulated Depreciation as a Ne $ - 10 > of 100 - ZOOM + Page of 100 - ZOOM + 113,000 275,000 6,400 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock Sales Revenue Sales Returns & Allowances Sales Discounts M Cost of Goods Sold Advertising Expense of 100 - ZOOM + 101 111 112 120 128 131 135 Instructions: Chart of Accounts: You are the controller at Star W Name of Ac Number of Account was founded in galaxy far, far al Cash of $20. Currently, 9,500 shares Petty Cash 104 accounting records, financial staAccounts R support management at Star W Allowance 1 aspects of accounting, but ultim Notes Rece 115 calendar year-end (the books ar Interest Re Therefore, when you prepare th Inventory to complete this practice set, yc Supplies transactions have already been Prepaid Ins all transactions and adjustment Prepaid Rei balance, prepare the financial stOther Asset December 31, 2014. Land Buildings 140 The following information perta Accumulate 141 1. Star Wars, Inc. maintains inve Equipment first in, first out (FIFO) cost flo Accumulate 2. Purchases of inventory are reSpace Ships 155 The purchase terms are differe Accumulate 3. Sales on account are subject Notes Paya 200 4. The company utilizes a gener Accounts P. 201 in accounts payable and accou Salaries and 210 5. Salaried employees are paid FICA Taxes every two weeks. Each two weIncome Tax 6. The Company's chart of acco Federal Wit 213 7. The Company uses the Allow State With 214 of the fiscal year at 2% of net sFUTA Taxes 215 SUTA Taxes 216 Unearned 217 Interest Pa 225 Check Figures: Dividends F 146 147 156 211 212 226 Page of 100 - ZOOM + Check Figures: COGS Net Income Total Assets 225 226 230 232 233 300 301 305 310 315 320 401 402 403 500 Interest Pay Dividends F $ 4,276,644 Notes Paya $ 1,443,598 Bonds Paya $ 3,970,399 Discount or Common S1 Additional I Retained E Treasury St Dividends Income Sur Sales Rever Sales Retur Sales Disco Cost of Goc Advertising Bad Debt E Supplies Ex Repairs Exp Miscellane Depreciatic Insurance E Salaries an Rent Expen Payroll Tax Utilities Exp Interest Re Gain on Dis Interest Exp Loss on Dis Income Tax 601 603 605 606 607 608 609 610 611 700 701 800 801 900 Page of 100 - ZOOM + 126,850 1,787 LIABILITIES 9,573 2,486 400 2,600 113,000 275,000 6,400 Accounts Payable Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable State Withholding Taxes Payable FUTA Taxes Payable SUTA Taxes Payable Unearned Revenues Interest Payable Dividends Payable Notes Payable (long-term) Bonds Payable Discount on Bonds Payable > Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock . Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Advertising Expense Bad Debt Expense Supplies Expense Repairs Expense (Miscellaneous Expense Depreciation Expense Insurance Expense Salaries & Wages Expense Dont Cunanca 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 RATING EXPENSES 1,540 17,732 933,122 2 > of 100 - ZOOM + Page of 100 - ZOOM + K 3-Dec 6-Dec 6-Dec 6-Dec 7-Dec 7-Dec 7-Dec 9-Dec 10-Dec 10-Dec 10-Dec 11-Dec Page of 100 - ZOOM + 13-Dec 14-Dec 14-Dec 15-Dec 17-Dec 17-Dec 18-Dec 18-Dec 19-Dec 19-Dec 20-Dec Page of 100 - ZOOM + 20-Dec 20-Dec 21-Dec 21-Dec 21-Dec 24-Dec 26-Dec 26-Dec 26-Dec 27-Dec 27-Dec 27-Dec Page of 100 - ZOOM + 27-Dec 27-Dec 27-Dec 28-Dec 28-Dec 28-Dec 28-Dec 29-Dec 31-Dec 31-Dec 31-Dec 31-Dec Page of 100 - ZOOM + 31-Dec 31-Dec Adjusting Entries: Page of 100 - ZOOM + Closing Entries: Close Revenues, Contra-Revenues, and Gains here. You will need to close all the temporary accounts at the end of the accounting year. Use Income Summary as credit amount. Close Expenses and Losses here. Use Income Summary for debited amount. Close Income Summary to Retained Earnings here. Don't forget to post closing entries to G/L Use the yellow areas Totals Page of 100 - ZOOM + GENERAL LEDGE Note: GENERAL LEDGE Note: All amounts in italics are beginning balances at 12/1/2014 Cash Petty Cash Accounts Receivable 249,930 150 317,420 249,930 150 317,420 Interest Receivable Inventory Supplies 500,000 2,320 500,000 2,320 Other Assets (current) Land Buildings 145,000 43,000 306,000 145,000 43,000 306,000 Accum. Depr. - Equipment Space Ships Accum. Depr.- Space Ships 13,200 174,000 39,540 13,200 174,000 39,540 Allowance for Doubtful Accounts 4,580 4,580 Prepaid Insurance 11,020 11,020 Accum. Depr. - Building 73,040 73,040 Notes Payable (current) 15,000 15,000 Notes Receivable (current) 45,000 45,000 Prepaid Rent 25,410 25,410 Equipment 32,800 32.800 Accounts Payable 126,850 126,850 Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable 9,573 State Withholding Taxes Payable 2,486 1,787 9,573 nterest Payable Dividends Payable FUTA Taxes Payable 400 400 Bonds Payable 275,000 275,000 1,787 SUTA Taxes Payable 2,600 2,600 Discount on Bonds Payable 6,400 6,400 2,486 Notes Payable (long-term) 113,000 113,000 Retained Earnings 426,388 426,388 Common Stock 190,000 190,000 Additional Paid-n Capital, Common 255,400 255,400 Treasury Stock 42,610 42,610 Sales Revenue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 cino Page of 100 - ZOOM + x 275,000 275,000 6,400 6,400 190,000 190,000 255,400 255,400 426,388 426,388 Clo Treasury Stock 42,610 42,610 Sales Revenue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 5,234,940 Bad Debt Expense Bad Debt Fyn 3,648,722 Miscellaneous Expense Advertising Expense 6,578 6,578 9,380 Supplies Expense 1,540 1,540 73,044 Repairs Expense 17,732 17,732 6,578 Depreciation Expense 17,732 Rent Expense Insurance Expense 1,540 Salaries & Wages Expense 933,122 933,122 Payroll Tax Expense 82,916 82,916 933,122 Gain on Disposal of Assets 82,916 Loss on Disposal of Assets Interest Revenue Utilities Expense 16,270 16,270 3,150 3,150 Interest Expense 24,570 24,570 3,150 24,570 16,270 Income Tax Expense 72,000 If zero, then T-Accounts Balance T-Accounts Balance? Post-closing T-Accounts balance? If zero, then T-Accounts Balance 72,000 72,000 7 Page of 100 - ZOOM + italics are beginning balances at 12/1/2014 Accounts Receivable 317,420 317,420 Supplies 2,320 2,320 Buildings 306,000 306,000 Accum. Depr. - Space Ships 39,540 39,540 Allowance for Doubtful Accounts 4,580 4,580 Prepaid Insurance 11,020 11,020 Accum. Depr. - Building 73,040 73,040 Notes Payable (current) 15,000 15,000 Notes Receivable (current) 45,000 45,000 Prepaid Rent 25,410 25,410 Equipment 32,800 32,800 Accounts Payable 126,850 126,850 Income Taxes Payable Unearned Revenues Federal Withholding Taxes Payable 9,573 State Withholding Taxes Payable 2,486 1,787 9,573 Interest Payable Dividends Payable 1,787 yable 2,600 2,600 s Payable 2,486 Notes Payable (long-term) 113,000 113,000 Retained Earnings 426,388 426,388 Common Stock 190,000 190,000 Additional Paid-n Capital, Common 255,400 255,400 Closing nue 5,234,940 5,234,940 Sales Returns & Allowances 9,380 9,380 Sales Discounts 73,044 73,044 426,388 Cost of Goods Sold 3,648,722 3,648,722 52100 opon | 7201 7610 7221 Page of 100 - ZOOM + ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Note: All amounts in italics are beginning balances at 12/1/2014 Bosk Co. C3PO Co. Endor Ltd. Jabba's Huts, Incango Fett, Inc. 3,700 22,000 27,120 74,350 24,050 50,300 3,700 Princess Leia Co. 72,300 27,120 7 4,350 24,050 R2D2 ComputersStorm Troopers Unlim/ader Enterprise: Yoda, Inc. 95,900 20,000 95,900 - - 20,000 Wookie, Inc Total ending balance at 12/31/14 $ 317,420 Page of 100 - ZOOM + K ACCOUNTS PAYABLE SUBSIDIARY LEDGEI Note: All amounts in italics are beginning balances at 12/1/2014 Calrisian's Components Count Dooku Consulting Ewok Inc. Greedo Inc. 7,200 26,000 37,719 Hyperspace Unlimited 9,900 7,200 63,719 9,900 Land Speeder, Inc. Naboo Utilities Co. Palpatine Computing Co. Star Destroyer Repairs Tattooine Ltd. 35,545 35,545 Wamp Rat, Co. Naboo Stationery Co. 10,486 Total ending balance at 12/31/14 126,850 10,486 Page of 100 - ZOOM + Total Cost 230,000 84,000 130,000 56,000 Beginning balances as of 12/1/14 Purchase Date | # of Units Cost per Unit 4/17 Beginning Inventory 2,000 $ 115$ 6/1 Beginning Inventory 700 $ 120$ 8/22 Beginning Inventory 1,000 $ 130 $ 10/1 Beginning Inventory 400 $ 140 $ 12/2 Purchase 12/10 Purchase 12/19 Purchase 12/21 Purchase 12/28 Purchase Totals 4,100 500,000 # of Units 12/1 Sale 12/3 Sale 12/6 Sale 12/9 Sale 12/12 Sale 12/13 Sale 12/14 Sale 12/15 Sale 12/20 Sale 12/27 Sale 12/29 Sale Total units sold Cost of Goods Sold (Perpetual FIFO): Date of Sale Units Sold: Cost per Unit: Total Cost COGS from 1/1 to 11/30 $ 3,648,722 12/1 12/3 12/6 12/9 12/12 12/13 12/13 12/14 12/15 12/15 12/20 12/20 12/27 12/27 12/29 12/20 visuaisissau Updated Inventory Totals (after sales) | Hof Ilnite Icoct nor Initl Total Cost Durchaca Data Page of 100 - ZOOM + $ 3,648,722 12/1 Sale 12/3 Sale 12/6 Sale 12/9 Sale 12/12 Sale 12/13 Sale 12/14 Sale 12/15 Sale 12/20 Sale 12/27 Sale 12/29 Sale Total units sold COGS from 11 to 11730 12/1 12/3 12/6 12/9 12/12 12/13 12/13 12/14 12/15 12/15 12/20 12/20 12/27 12/27 12/29 12/29 12/29 - esas as es esas es esas es esas es esas as is Total Cost 230,000 84,000 130,000 56,000 Total COGS $ 3,648,722 m Updated Inventory Totals (after sales) Purchase Date # of Units Cost per Unit 4/17 Beginning Inventory 2,000 $ 115 $ 6/1 Beginning Inventory 700 $ 120$ 8/22 Beginning Inventory 1,000 $ 10/1 Beginning Inventory 400 $ 140 $ 12/2 Purchase 12/10 Purchase 12/19 Purchase 12/21 Purchase 12/28 Purchase Totals 4,100 $ uuuuuuu Balanced? (if 0 or -) 500,000 Page > of 100 - ZOOM + K Credit 4,580 Star Wars, Inc Trial Balance December 31, 2014 Accounts: Debit Cash 249,930 Petty Cash 150 Accounts Receivable 317,420 Allowance for Doubtful Accounts Notes Receivable (current) 45,000 Interest Receivable Inventory 500,000 Supplies 2,320 w Prepaid Insurance 11,020 Prepaid Rent 25,410 of 100 - ZOOM + Page of 100 - ZOOM + 113,000 275,000 6,400 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 OPERATING EXPENSESREV. EQUI MTCTT uyuvic Dividends Payable Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Advertising Expense Z Bad Debt Expense Supplies Expense X Repairs Expense Miscellaneous Expense Depreciation Expense Insurance Expense Salaries & Wages Expense Rent Expense Payroll Tax Expense Utilities Expense Interest Revenue Gain on Disposal of Fixed Assets Interest Expense 5 Loss on Disposal of Fixed Assets Income Tax Expense Totals 1,540 17,732 933,122 82,916 16,270 3,150 24,570 72,000 6,786,934 6,786,934 Page 0f 100 - ZOOM + Please Create An Income Statement, Statement of Stockholders' Equity and Balance Sheet in Good Form NOTE: You need to fill in the GREY areas with the correct numbers (use the ending balances sheet). Star Wars, Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2014 Star Wars, Inc. Income Statement Common Stock APIC Retained Earnings Treasury Stock Total Year Ended December 3' Balance, 1/1/2014 $ 190,000 $ 255,400 $ 426,388 $ (42,610) $ 829,178 Sales Revenue Stock Issuance Less: Sales Discounts Sales Returns & All Dividends Declared Net Sales F $ - Stock Repurchase Cost of Goods Sold Net Income Gross Mar Balance, 12/31/2014 $ 190,000 $ 255,400 $ 426,388 $ (42,610) $ 829,178 Operating Expenses: Salaries & Wages Expense Utilities Expense Advertising Expense Star Wars, Inc. Supplies Expense Balance Sheet Insurance Expense December 31, 2014 Repairs Expense Assets: Payroll Tax Expense Current Assets Rent Expense Cash (including petty cash) Bad Debt Expense Accounts Receivable (Net of Allowance) Remember to net the A/R account and the Depreciation Expense Notes Receivable (current) Account!! Miscellaneous Expense Interest Receivable Total Ope Inventory Supplies Operating Prepaid Insurance Page of 100 - ZOOM + Remember to net the A/R account and the Account!! $ - Land Enter Accumulated Depreciation as a Ne Repairs Expense Assets: Payroll Tax Expense Current Assets Rent Expense Cash (including petty cash) Bad Debt Expense Accounts Receivable (Net of Allowance) Depreciation Expense Notes Receivable (current) Miscellaneous Expense Interest Receivable Total Ope Inventory Supplies Operating Prepaid Insurance Prepaid Rent Other Income and (Expenses) Other Assets (current) Interest Revenue Total Current Assets Gain on Disposal Property, Plant, and Equipment Loss on Disposal Interest Expense Space Ships Less: Accum. Depr.- Space Ships Income Be Equipment Less: Accum. Depr. - Equipment Income Ta 72,000 Buildings Less: Accum. Depr. - Buildings Net Income $ (72,000) Property, Plant, and Equipment, net Total Assets Liabilities: Current Liabilities Notes Payable (current) Accounts Payable Salaries & Wages Payable FICA Taxes Payable Income Taxes Payable Federal Withholding Taxes Payable State Withholding Taxes Payable Unearned Revenues Enter Accumulated Depreciation as a Ne Enter Accumulated Depreciation as a Ne $ - 10 > of 100 - ZOOM + Page of 100 - ZOOM + 113,000 275,000 6,400 190,000 255,400 426,388 42,610 5,234,940 9,380 73,044 3,648,722 6,578 Notes Payable (long-term) Bonds Payable Discount on Bonds Payable Common Stock Additional Paid-in Capital, Common Retained Earnings Treasury Stock Sales Revenue Sales Returns & Allowances Sales Discounts M Cost of Goods Sold Advertising Expense