Please help me with heneral journal, general ledger, inventory valuation, bank reconciliation and financial statemnts
determined for the inventory The opening balances for the month of September are as follows Northern Balance Sheet As a September 30, 2020 Assets Current Assets Cash $27.200 Accounts Receivable 16.000 Merchandise inventory Total Current Assets 56,200 Propter Fant Equipment Epment 130.000 Acumulated Depreciation Total Assets Liis Current Liabilities Accounts Payable $16,200 Current Portion of Bank loan 5.000 Total Current abilities 532.00 Non Current Liabilities Non-Current Portion of Bank Total abilities Shareholders' Equity Common Shares 50.000 Retained tains SUS Total Shareholders' Equity Total abilities & Equity The bank loan has an annual interest rate of Standas principalement of $500 The inventory figure includes units purchased a sett * Page 1 AM ABS See TORTAS 22 Transactions for the month of October Oct 1 Oct 2 Oct 5 Octs Oct Oct Bought inventory from Outdoor Musi on account, imice5455.900 units at $28 each Terms of the purchase were 4/10.net 30. Update the entry tabletter each purchase Sold goods to Outback Klan, 600 units at 580 each with voice 1741. The invoice terms were 5/10.net 30. Update the inventory table after each sale Paid 51.100 with cheque 1143 to Outdoor Murl for an amount owing from last month Bought inventory from Climb Foe with cheque 344650bs at $29 per unit. Returned 150 delective units to Climb Toe and received cash Received $800 from Firewood for a sale on account last month Outback Kianpaid invoice 04741 on time and took advantage of the early payment discount Prepared the payroll for October. Gross pays $8,000, CP 85402, B350 and income taxis $1.600. The employer matches CP contributions and pays 14 times the deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of 5600 which includes $500 principal and 5100 Oct 10 Oct 31 Oct 31 Required: Record the transactions above in the general journal and then post amounts to the General Ledger Note: Also remember to enter your posting references ACCTI 100 Individual Assignment 2 Fall 2020 Student ML Edita Mesto X Calibri - - - A - 88 - % 40 PC Eyeep G16. . D F G 1 1 Case: Northern Reflections 3 Northern Reflections sells outdoor Sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the 5 perpetual Inventory system and use the weighed average method to determine value for the inventory 8 The opening balances for the month of September are as follows: 9 10 Northern Reflections 11 Balance Sheet 12 As at September 30, 2020 12 Assets 14 Current Assets 15 Cash 37 200 15 Accounts Receivable 16 17 Merchandise inventory 1 000 18 Total Current Assets 56 200 19 Prottery, Plant & Equipment 20 tauipment 190 21 Accumulated Depreciation 25 000 22 Total Assets 551 200 3 24 abilities 25 Current abilities Cose introduction Transactions General Journal Gral Leder Intary Ban 0 acer F1 FB F4 F5 F FR, # No S went Edits Pinal Meid cone Calibri . Yame out opatposure O 10 - AA== *K4 - - A - Bath 18 - %. Cover Lep Bburu Cre G16 X 1 B C D E F G H 22 Total Assets 5151200 23 24 abilities 25 Current Liabilities 26 Accounts Payable $16200 27 Current Portion of Bank loan 6.000 28 Total Current abilities $22 200 29 ton Current Liabilities 30 Non-Current Portion of Bank loan 18.000 31 Totallaties 49200 32 Shareholders' Equity 33 common Shares 50 000 14 tained in 52.000 35 total Shareholders Equity 11.000 36 Totalities & Equity SI 5151 2001 47 The has an interest rate of Nandhyament of $500 25 MANI 61 The.chado Auctos shown to 62 Art Description Account Account Description Account 63 ASES 54 193 65 103 Sunt 405 06 Ateca Ito ID Case induction Transaction Ganade Vio secondo E BH Text novca 2 - acer F2 TE 8 # Ne 3 S 4 % 5 1 2 6 7 2 8 E R Y T Tod O W K E H ACCT1100 Individual Assignment 2 Fall 2020 Student ML Edits - Final om ca Calibri -10 - A A 29 15 - %32 Canave Che - a A. liy bep 5 G15 D 101 105 110 400 405 410 420 B. 64 Cash 65 Petty Cash 66 Accounts Receivable 67 Merchandise Inventory 68 Prepaid insurance 69 Equipment 70 Accumulated Depreciation 71 LABIES 72 Accounts Payable 73 terest Payable 74 CPP Payable 75 Payable 76 income Tax Payable 72 salaries Payable 78 earned Revenue 120 125 140 145 F H Sales Revenue Sales Discounts Sales Returns and Allowances interest devenue EXPENSES Cost of Goods Sold Emelovee Benefits Expense Depreciation Expense Insurance pense Interest pense Office Supplies Expense Rent tense salaries Expense Bank Charpense Maintenance Expense Entertainment Expense 200 205 220 500 510 515 520 525 530 535 540 545 550 230 235 240 245 80 SHAROLDERS' EQUITY 1 Common Shares ez dans 100 64 85 80 7 Case Introduction General looma HA acer F F2 5 EK 3 w FH F4 2 75 TG FZ # No Asset Dalla ACCT1100 Individualment2F Student M-Fi. cars PO Pence 10 - A* =- 23 -y K 9 - - AA-EE Calibe po 23 M N D E F H 1 Transactions for the month of October 2 3 thought inuentory from Outdoor Mul on account, invoice 15455900 units 528 4 Oct 1 Terms of the purchase were 4/10 net dat the inventory tablete each purchase 5 Oct 2 said goods to Outback unutach with the invoices 6 5/20, net 30 date the inventory table alterachse 7 Octs Paid 51100 with chee 143 to Outdoor Muniformount wing from last month 8 Octs Bentory from Club For with che144.650 units at 2nit 9 Oct Returned 150 defective to Cumbe and receive cash 10 Oct Back 00, from wood will for sale an accounts with Oct 10 outback Kianpaid take on time and took advantage of the early discount 12 13 Prepared the payroll for October Gressvis 58000, PP is $400, 5550, and income 14 Oct 33 taxis $1500. The mover watch CPP contributions and pay 14 times the detto 15 Use the journal to record this. The cher will be 15 O interest 17 + 18 Required 19 Record the transactions about in the palm the port to the Grade 20 semeber to enter your continences 21 22 Cane witroduce Transaction Genom Dette secolo acer 14 76 - 22 Ne $ 96 S 2 6 7 8 9 3 4 www.route between the One From LOG SA The On The One DEFENSES . 18 21 ASIGUITY Transactions for the month of Oeste JO out DES os 0:11 Oct 10 out inventory Outdoor Mul on twice SASSO 28th Terms of the fourches.net 30.odate the inventory tabletterschuhe Sold goots to Dubad Kanco S80 with involte 1741. The inters were 10. Update the 51.100 Wochege 54 to Odor Malt for montering from last month Restoran Combor with the L, 680 523 perunt Returned to the US TO Concert Aceived from Tweed for sale con la month Outback and nice 74% on time and took advantage of the payment pred the way the Group 8.000.CF SAB, B 5150 and income 1,600 Telovermudes contrada 1. mestre enfation Use the enerant to records. The he will Made morty bank loan payment See which w $0 principal and $100 interest 10411 Record the transactions but in the general and the post amounts General Note: Aho remember to enter your phone references Case: Northern Reflections Northern Reflections sells outdoor sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the perpetual inventory system and use the weigted average method to determine value for the inventory. The opening balances for the month of September are as follows: Northern Reflections Balance Sheet As at September 30, 2020 Assets Current Assets Cash $27,200 Accounts Receivable 16,000 Merchandise Inventory 13.000 Total Current Assets 56,200 Proptery, Plant & Equipment Equipment 130,000 Accumulated Depreciation -35.000 95.000 Total Assets $151,200 Liabilities Current Liabilities Accounts Payable $16,200 Current Portion of Bank Loan 6000 Total Current Liabilities $22,200 Non-Current Liabilities Non-Current Portion of Bank Loan 18.000 Total Liabilities $40,200 Shareholders' Equity Common Shares 50,000 Retained Earnings 61.000 Total Shareholders' Equity 111.000 Total Liabilities & Equity $151,200 Account # 101 400 405 410 420 The bank loan has an annual interest rate of 5% and has monthly principal payment of $500. The inventory figure includes 500 units purchased at $26.00 each. The Chart of Accounts (GL no.) is shown below: Account Description Account # Account Description ASSETS REVENUE Cash Sales Revenue Petty Cash 105 Sales Discounts Accounts Receivable 110 Sales Returns and Allowances Merchandise Inventory 120 Interest Revenue Prepaid Insurance 125 EXPENSES Equipment 140 Cost of Goods Sold Accumulated Depreciation 145 Employee Benefits Expense LIABILITIES Depreciation Expense Accounts Payable 200 Insurance Expense Interest Payable 205 Interest Expense CPP Payable 220 Office Supplies Expense EI Payable 225 Rent Expense Income Tax Payable 230 Salaries Expense Salaries Payable 235 Bank Charges Expense Unearned Revenue 240 Maintenance Expense Bank Loan 245 Entertainment Expense SHAREHOLDERS' EQUITY Common Shares 300 Retained Earnings 305 500 510 515 520 525 530 535 540 545 550 555 Transactions for the month of October: Oct 1 Oct 2 Oct 5 Oct 5 Oct 7 Oct 8 Bought inventory from Outdoor Muzi on account, invoice #5455; 900 units at $28 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase. Sold goods to Outback Kian, 600 units at $80 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale. Paid $1,100 with cheque #143 to Outdoor Muzi for an amount owing from last month. Bought inventory from Climb Foe with cheque #144,650 units at $29 per unit. Returned 150 defective units to Climb Foe and received cash. Received $800 from Firewood Bill for a sale on account last month. Outback Kian paid invoice #4741 on time and took advantage of the early payment discount Prepared the payroll for October. Gross pay is $8,000, CPP is $408, El is $150 and income tax is $1,600. The employer matches CPP contributions and pays 1.4 times the El deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of $600 which includes $500 principal and $100 interest. Oct 10 Oct 31 Oct 31 Required: 1) Record the transactions above in the general journal and then post amounts to the General Ledger. Note: Also remember to enter your posting references. Oct 1 Oct 2 Oct 5 Oct 5 Oct 7 Oct 8 Bought inventory from Outdoor Muzi on account, invoice #5455; 900 units at $28 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase. Sold goods to Outback Kian, 600 units at $80 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale. Paid $1,100 with cheque #143 to Outdoor Muzi for an amount owing from last month. Bought inventory from Climb Foe with cheque #144, 650 units at $29 per unit Returned 150 defective units to Climb Foe and received cash. Received $800 from Firewood Bill for a sale on account last month. Outback Kian paid invoice #4741 on time and took advantage of the early payment discount. Prepared the payroll for October. Gross pay is $8,000, CPP is $408, El is $150 and income tax is $1,600. The employer matches CPP contributions and pays 1.4 times the El deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of $600 which includes $500 principal and $100 interest. Oct 10 Oct 31 Oct 31 determined for the inventory The opening balances for the month of September are as follows Northern Balance Sheet As a September 30, 2020 Assets Current Assets Cash $27.200 Accounts Receivable 16.000 Merchandise inventory Total Current Assets 56,200 Propter Fant Equipment Epment 130.000 Acumulated Depreciation Total Assets Liis Current Liabilities Accounts Payable $16,200 Current Portion of Bank loan 5.000 Total Current abilities 532.00 Non Current Liabilities Non-Current Portion of Bank Total abilities Shareholders' Equity Common Shares 50.000 Retained tains SUS Total Shareholders' Equity Total abilities & Equity The bank loan has an annual interest rate of Standas principalement of $500 The inventory figure includes units purchased a sett * Page 1 AM ABS See TORTAS 22 Transactions for the month of October Oct 1 Oct 2 Oct 5 Octs Oct Oct Bought inventory from Outdoor Musi on account, imice5455.900 units at $28 each Terms of the purchase were 4/10.net 30. Update the entry tabletter each purchase Sold goods to Outback Klan, 600 units at 580 each with voice 1741. The invoice terms were 5/10.net 30. Update the inventory table after each sale Paid 51.100 with cheque 1143 to Outdoor Murl for an amount owing from last month Bought inventory from Climb Foe with cheque 344650bs at $29 per unit. Returned 150 delective units to Climb Toe and received cash Received $800 from Firewood for a sale on account last month Outback Kianpaid invoice 04741 on time and took advantage of the early payment discount Prepared the payroll for October. Gross pays $8,000, CP 85402, B350 and income taxis $1.600. The employer matches CP contributions and pays 14 times the deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of 5600 which includes $500 principal and 5100 Oct 10 Oct 31 Oct 31 Required: Record the transactions above in the general journal and then post amounts to the General Ledger Note: Also remember to enter your posting references ACCTI 100 Individual Assignment 2 Fall 2020 Student ML Edita Mesto X Calibri - - - A - 88 - % 40 PC Eyeep G16. . D F G 1 1 Case: Northern Reflections 3 Northern Reflections sells outdoor Sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the 5 perpetual Inventory system and use the weighed average method to determine value for the inventory 8 The opening balances for the month of September are as follows: 9 10 Northern Reflections 11 Balance Sheet 12 As at September 30, 2020 12 Assets 14 Current Assets 15 Cash 37 200 15 Accounts Receivable 16 17 Merchandise inventory 1 000 18 Total Current Assets 56 200 19 Prottery, Plant & Equipment 20 tauipment 190 21 Accumulated Depreciation 25 000 22 Total Assets 551 200 3 24 abilities 25 Current abilities Cose introduction Transactions General Journal Gral Leder Intary Ban 0 acer F1 FB F4 F5 F FR, # No S went Edits Pinal Meid cone Calibri . Yame out opatposure O 10 - AA== *K4 - - A - Bath 18 - %. Cover Lep Bburu Cre G16 X 1 B C D E F G H 22 Total Assets 5151200 23 24 abilities 25 Current Liabilities 26 Accounts Payable $16200 27 Current Portion of Bank loan 6.000 28 Total Current abilities $22 200 29 ton Current Liabilities 30 Non-Current Portion of Bank loan 18.000 31 Totallaties 49200 32 Shareholders' Equity 33 common Shares 50 000 14 tained in 52.000 35 total Shareholders Equity 11.000 36 Totalities & Equity SI 5151 2001 47 The has an interest rate of Nandhyament of $500 25 MANI 61 The.chado Auctos shown to 62 Art Description Account Account Description Account 63 ASES 54 193 65 103 Sunt 405 06 Ateca Ito ID Case induction Transaction Ganade Vio secondo E BH Text novca 2 - acer F2 TE 8 # Ne 3 S 4 % 5 1 2 6 7 2 8 E R Y T Tod O W K E H ACCT1100 Individual Assignment 2 Fall 2020 Student ML Edits - Final om ca Calibri -10 - A A 29 15 - %32 Canave Che - a A. liy bep 5 G15 D 101 105 110 400 405 410 420 B. 64 Cash 65 Petty Cash 66 Accounts Receivable 67 Merchandise Inventory 68 Prepaid insurance 69 Equipment 70 Accumulated Depreciation 71 LABIES 72 Accounts Payable 73 terest Payable 74 CPP Payable 75 Payable 76 income Tax Payable 72 salaries Payable 78 earned Revenue 120 125 140 145 F H Sales Revenue Sales Discounts Sales Returns and Allowances interest devenue EXPENSES Cost of Goods Sold Emelovee Benefits Expense Depreciation Expense Insurance pense Interest pense Office Supplies Expense Rent tense salaries Expense Bank Charpense Maintenance Expense Entertainment Expense 200 205 220 500 510 515 520 525 530 535 540 545 550 230 235 240 245 80 SHAROLDERS' EQUITY 1 Common Shares ez dans 100 64 85 80 7 Case Introduction General looma HA acer F F2 5 EK 3 w FH F4 2 75 TG FZ # No Asset Dalla ACCT1100 Individualment2F Student M-Fi. cars PO Pence 10 - A* =- 23 -y K 9 - - AA-EE Calibe po 23 M N D E F H 1 Transactions for the month of October 2 3 thought inuentory from Outdoor Mul on account, invoice 15455900 units 528 4 Oct 1 Terms of the purchase were 4/10 net dat the inventory tablete each purchase 5 Oct 2 said goods to Outback unutach with the invoices 6 5/20, net 30 date the inventory table alterachse 7 Octs Paid 51100 with chee 143 to Outdoor Muniformount wing from last month 8 Octs Bentory from Club For with che144.650 units at 2nit 9 Oct Returned 150 defective to Cumbe and receive cash 10 Oct Back 00, from wood will for sale an accounts with Oct 10 outback Kianpaid take on time and took advantage of the early discount 12 13 Prepared the payroll for October Gressvis 58000, PP is $400, 5550, and income 14 Oct 33 taxis $1500. The mover watch CPP contributions and pay 14 times the detto 15 Use the journal to record this. The cher will be 15 O interest 17 + 18 Required 19 Record the transactions about in the palm the port to the Grade 20 semeber to enter your continences 21 22 Cane witroduce Transaction Genom Dette secolo acer 14 76 - 22 Ne $ 96 S 2 6 7 8 9 3 4 www.route between the One From LOG SA The On The One DEFENSES . 18 21 ASIGUITY Transactions for the month of Oeste JO out DES os 0:11 Oct 10 out inventory Outdoor Mul on twice SASSO 28th Terms of the fourches.net 30.odate the inventory tabletterschuhe Sold goots to Dubad Kanco S80 with involte 1741. The inters were 10. Update the 51.100 Wochege 54 to Odor Malt for montering from last month Restoran Combor with the L, 680 523 perunt Returned to the US TO Concert Aceived from Tweed for sale con la month Outback and nice 74% on time and took advantage of the payment pred the way the Group 8.000.CF SAB, B 5150 and income 1,600 Telovermudes contrada 1. mestre enfation Use the enerant to records. The he will Made morty bank loan payment See which w $0 principal and $100 interest 10411 Record the transactions but in the general and the post amounts General Note: Aho remember to enter your phone references Case: Northern Reflections Northern Reflections sells outdoor sporting equipment. You have been working for the company since its inception a few years ago and have been promoted to be their accounting manager. They use the perpetual inventory system and use the weigted average method to determine value for the inventory. The opening balances for the month of September are as follows: Northern Reflections Balance Sheet As at September 30, 2020 Assets Current Assets Cash $27,200 Accounts Receivable 16,000 Merchandise Inventory 13.000 Total Current Assets 56,200 Proptery, Plant & Equipment Equipment 130,000 Accumulated Depreciation -35.000 95.000 Total Assets $151,200 Liabilities Current Liabilities Accounts Payable $16,200 Current Portion of Bank Loan 6000 Total Current Liabilities $22,200 Non-Current Liabilities Non-Current Portion of Bank Loan 18.000 Total Liabilities $40,200 Shareholders' Equity Common Shares 50,000 Retained Earnings 61.000 Total Shareholders' Equity 111.000 Total Liabilities & Equity $151,200 Account # 101 400 405 410 420 The bank loan has an annual interest rate of 5% and has monthly principal payment of $500. The inventory figure includes 500 units purchased at $26.00 each. The Chart of Accounts (GL no.) is shown below: Account Description Account # Account Description ASSETS REVENUE Cash Sales Revenue Petty Cash 105 Sales Discounts Accounts Receivable 110 Sales Returns and Allowances Merchandise Inventory 120 Interest Revenue Prepaid Insurance 125 EXPENSES Equipment 140 Cost of Goods Sold Accumulated Depreciation 145 Employee Benefits Expense LIABILITIES Depreciation Expense Accounts Payable 200 Insurance Expense Interest Payable 205 Interest Expense CPP Payable 220 Office Supplies Expense EI Payable 225 Rent Expense Income Tax Payable 230 Salaries Expense Salaries Payable 235 Bank Charges Expense Unearned Revenue 240 Maintenance Expense Bank Loan 245 Entertainment Expense SHAREHOLDERS' EQUITY Common Shares 300 Retained Earnings 305 500 510 515 520 525 530 535 540 545 550 555 Transactions for the month of October: Oct 1 Oct 2 Oct 5 Oct 5 Oct 7 Oct 8 Bought inventory from Outdoor Muzi on account, invoice #5455; 900 units at $28 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase. Sold goods to Outback Kian, 600 units at $80 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale. Paid $1,100 with cheque #143 to Outdoor Muzi for an amount owing from last month. Bought inventory from Climb Foe with cheque #144,650 units at $29 per unit. Returned 150 defective units to Climb Foe and received cash. Received $800 from Firewood Bill for a sale on account last month. Outback Kian paid invoice #4741 on time and took advantage of the early payment discount Prepared the payroll for October. Gross pay is $8,000, CPP is $408, El is $150 and income tax is $1,600. The employer matches CPP contributions and pays 1.4 times the El deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of $600 which includes $500 principal and $100 interest. Oct 10 Oct 31 Oct 31 Required: 1) Record the transactions above in the general journal and then post amounts to the General Ledger. Note: Also remember to enter your posting references. Oct 1 Oct 2 Oct 5 Oct 5 Oct 7 Oct 8 Bought inventory from Outdoor Muzi on account, invoice #5455; 900 units at $28 each. Terms of the purchase were 4/10, net 30. Update the inventory table after each purchase. Sold goods to Outback Kian, 600 units at $80 each with invoice #4741. The invoice terms were 5/10, net 30. Update the inventory table after each sale. Paid $1,100 with cheque #143 to Outdoor Muzi for an amount owing from last month. Bought inventory from Climb Foe with cheque #144, 650 units at $29 per unit Returned 150 defective units to Climb Foe and received cash. Received $800 from Firewood Bill for a sale on account last month. Outback Kian paid invoice #4741 on time and took advantage of the early payment discount. Prepared the payroll for October. Gross pay is $8,000, CPP is $408, El is $150 and income tax is $1,600. The employer matches CPP contributions and pays 1.4 times the El deduction. Use the general journal to record this. The cheque will be prepared later. Made monthly bank loan payment of $600 which includes $500 principal and $100 interest. Oct 10 Oct 31 Oct 31
