Please help. My journal entries are correct but I'm having trouble with my T accounts and Unadjusted balance. In my unadjusted balance the total should be $86701 c/d
Step four: Trasfer posted entries to T accounts
Apply the accrual basis of accounting to correctly create adjusting entries in the preparation of financial state
Peyton Approved General Journal Entries Jul-18 Accounts Credit Date 1-Jul Cash Common Stock Debit 10,000.00 10,000.00 6,500.00 1-Jul Baking Supplies Accounts Payable 6,500.00 10,000.00 3-Jul Cash Notes Payable 10,000.00 1 7-Jul Rent Expense Prepaid Rent Cash 1,500.00 1,500.00 3,000.00 375.00 10-Jul Business License Expense Cash 375.00 250.00 11-Jul Misc. Expense Cash 250.00 6,000.00 13-Jul Baking Equipment common Stock 6,000.00 200.00 13-Jul Advertising Expense Cash 200.00 300.00 14-Jul Office Supplies Expense Cash 300.00 75.00 30-Jul Telephone Expenses Accounts Payable 75.00 31-Jul Prepaid Insurance Cash 2.400.00 2.400.00 31-Jul Wage Expenses Cash 120.00 120.00 31-Jul Cash Accounts receivable Bakery Sales 10,000.00 5.000.00 15,000.00 54,220.00 54,220.00 108.440.00 108 440.00 Peyton Approved General Journal Entries Aug-18 Accounts Credit Date 5-Aug Cash Wage Expense Debit 120.00 120.00 3,800.00 8-Aug Cash Accounts Receivable 3,800.00 75.00 10-Aug Accounts Payable Cash 75.00 5,000.00 15-Aug Baking Supplies Accounts Payable 5,000.00 480.00 15-Aug Wage Expenses Cash 480.00 1,500.00 15-Aug Cash Rent Expenses 1,500.00 3,000.00 18-Aug Cash Accounts Receivable 3,000.00 8,500.00 20-Aug Accounts Payable Cash 8,500.00 480.00 20-Aug Wage Expense Cash 480.00 22-Aug Office Supplies 300.00 I Cash 300.00 75.00 31-Aug Telephone Expenses Cash 75.00 420.00 31-Aug Wage Expenses Cash 420.00 31-Aug Cash Account Receivables Bakery Sales 12,500.00 7.500.00 20,000.00 Total 43,750.00 $ 43.750.00 Peyton Approved General Journal Entries Sep-18 Accounts 1 Credit Date 1-Sep Dividends Cash Debit 10,000.00 10,000.00 420.00 5-Sep Cash Wage Expenses 420.00 60.00 7-Sep Merchandise Inventory (10 x $6) Cash 60.00 4,000.00 8-Sep Accounts Receivable Cash 4,000.00 75.00 10-Sep Cash Telephone Expense 75.00 7,000.00 11-Sep Baking Supplies Accounts Payable 7,000.00 5,000.00 13-Sep Accounts Payable Cash 5,000.00 456.00 15-Sep Wage Expenses Cash 456.00 1,500.00 15-Sep Cash Rent Expenses 1,500.00 15-Sep Cash (8 x $8.50) 68.00 Merchandise Sales 68.00 48.00 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory 48.00 456.00 20-Sep Cash Wage Expenses 456.00 122.00 20-SepMerchandise Inventory (20 x $6.10 ) Cash 122.00 153.00 24-Sep Cash (18 x 8.50) Merchandise Sales 153.00 109.60 24-Sep Cost of Goods Sold (2 x $6)+(16 x $6.10) Merchandise Inventory 109.60 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 480.00 30-Sep Wages Expenses Cash 480.00 14,000.00 6,000.00 30-Sep Cash Accounts Receivable Bakery Sales Total 20,000.00 50,098.85 50,098.85 B T C D E F E Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest Expense Insurance Expense Depreciation Expense Mise Expensel Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense COGS (FIFO Peyton Appraved Trial Balance 2018 Unadjusted trial balance Adjusting entries Debit Credit 1 Debit Credit 30,347.75 550.00 18,500.00 17.400.00 175.65 1500.00 2,400.00 400.00 6,000.00 250.00 600.00 15,700.00 10,000.00 150.00 4.925.00 (480.00) 16,000.00 10,000.00 55,000.00 221.00 17.400.00 (1.500.00) Adjusted trial balance Debit Credit 29,797.75 1.100.00 175.65 1500.00 2,000.00 6,000.00 250.00 600.00 15,700.00 10,000.00 150.00 4,925.00 (480.00) 16,000.00 10,000.00 55,000.00 221.00 17.400.00 (1.500.00) 150.00 400.00 250.00 800.00 400.00 250.00 550.00 250.00 375.00 200.00 1,440.00 75.00 157.60 375.00 200.00 1440.00 75.00 157.60 Total (FIFO 86.221.00 85.666.00 18.750.00 18.750.00 86,62100 86.066.00 11 16.000.00 - 120.00 APIE 30,000.00 1.500 000 SA 11 120.00 I == 10- 5.000.00 132.00 14,000.00 SER 2000 OSE ISA 11. 7.000 200000 Balance DO DO sod 7.000.00 11-Sep 1 000 2 100 5701 68.00 15.5 MO 20- 22.00 11 16.000.00 M 120.00 10.000.00 1200 1.500.00 15A SALE 100.000 03 0.003 00 10- 5.000.00 20 123 14.000 BOS 25000 10.00 IS A 7,000 1.500.00 1.500.00 5.000 OM 16:44 7.000.00 11 Sep 5.000 ce 10000 *** Merch 20- 22.00 150000 0 0000 18.500.00 1.500 30 Se 1.500.00 2.400.00 30-M 20 Sep 15 15-AU 15-Sep 30-Sep 20 3050 4925 Balance Balance ce depreciation Dividend 10,000 en Telephone expert 1.Sep 75 10-esp 10.000 Peyton Approved General Journal Entries Jul-18 Accounts Credit Date 1-Jul Cash Common Stock Debit 10,000.00 10,000.00 6,500.00 1-Jul Baking Supplies Accounts Payable 6,500.00 10,000.00 3-Jul Cash Notes Payable 10,000.00 1 7-Jul Rent Expense Prepaid Rent Cash 1,500.00 1,500.00 3,000.00 375.00 10-Jul Business License Expense Cash 375.00 250.00 11-Jul Misc. Expense Cash 250.00 6,000.00 13-Jul Baking Equipment common Stock 6,000.00 200.00 13-Jul Advertising Expense Cash 200.00 300.00 14-Jul Office Supplies Expense Cash 300.00 75.00 30-Jul Telephone Expenses Accounts Payable 75.00 31-Jul Prepaid Insurance Cash 2.400.00 2.400.00 31-Jul Wage Expenses Cash 120.00 120.00 31-Jul Cash Accounts receivable Bakery Sales 10,000.00 5.000.00 15,000.00 54,220.00 54,220.00 108.440.00 108 440.00 Peyton Approved General Journal Entries Aug-18 Accounts Credit Date 5-Aug Cash Wage Expense Debit 120.00 120.00 3,800.00 8-Aug Cash Accounts Receivable 3,800.00 75.00 10-Aug Accounts Payable Cash 75.00 5,000.00 15-Aug Baking Supplies Accounts Payable 5,000.00 480.00 15-Aug Wage Expenses Cash 480.00 1,500.00 15-Aug Cash Rent Expenses 1,500.00 3,000.00 18-Aug Cash Accounts Receivable 3,000.00 8,500.00 20-Aug Accounts Payable Cash 8,500.00 480.00 20-Aug Wage Expense Cash 480.00 22-Aug Office Supplies 300.00 I Cash 300.00 75.00 31-Aug Telephone Expenses Cash 75.00 420.00 31-Aug Wage Expenses Cash 420.00 31-Aug Cash Account Receivables Bakery Sales 12,500.00 7.500.00 20,000.00 Total 43,750.00 $ 43.750.00 Peyton Approved General Journal Entries Sep-18 Accounts 1 Credit Date 1-Sep Dividends Cash Debit 10,000.00 10,000.00 420.00 5-Sep Cash Wage Expenses 420.00 60.00 7-Sep Merchandise Inventory (10 x $6) Cash 60.00 4,000.00 8-Sep Accounts Receivable Cash 4,000.00 75.00 10-Sep Cash Telephone Expense 75.00 7,000.00 11-Sep Baking Supplies Accounts Payable 7,000.00 5,000.00 13-Sep Accounts Payable Cash 5,000.00 456.00 15-Sep Wage Expenses Cash 456.00 1,500.00 15-Sep Cash Rent Expenses 1,500.00 15-Sep Cash (8 x $8.50) 68.00 Merchandise Sales 68.00 48.00 15-Sep Cost of Goods Sold (8 X $6) Merchandise Inventory 48.00 456.00 20-Sep Cash Wage Expenses 456.00 122.00 20-SepMerchandise Inventory (20 x $6.10 ) Cash 122.00 153.00 24-Sep Cash (18 x 8.50) Merchandise Sales 153.00 109.60 24-Sep Cost of Goods Sold (2 x $6)+(16 x $6.10) Merchandise Inventory 109.60 151.25 30-Sep Merchandise Inventory (25 x $6.05) Cash 151.25 480.00 30-Sep Wages Expenses Cash 480.00 14,000.00 6,000.00 30-Sep Cash Accounts Receivable Bakery Sales Total 20,000.00 50,098.85 50,098.85 B T C D E F E Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest Expense Insurance Expense Depreciation Expense Mise Expensel Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense COGS (FIFO Peyton Appraved Trial Balance 2018 Unadjusted trial balance Adjusting entries Debit Credit 1 Debit Credit 30,347.75 550.00 18,500.00 17.400.00 175.65 1500.00 2,400.00 400.00 6,000.00 250.00 600.00 15,700.00 10,000.00 150.00 4.925.00 (480.00) 16,000.00 10,000.00 55,000.00 221.00 17.400.00 (1.500.00) Adjusted trial balance Debit Credit 29,797.75 1.100.00 175.65 1500.00 2,000.00 6,000.00 250.00 600.00 15,700.00 10,000.00 150.00 4,925.00 (480.00) 16,000.00 10,000.00 55,000.00 221.00 17.400.00 (1.500.00) 150.00 400.00 250.00 800.00 400.00 250.00 550.00 250.00 375.00 200.00 1,440.00 75.00 157.60 375.00 200.00 1440.00 75.00 157.60 Total (FIFO 86.221.00 85.666.00 18.750.00 18.750.00 86,62100 86.066.00 11 16.000.00 - 120.00 APIE 30,000.00 1.500 000 SA 11 120.00 I == 10- 5.000.00 132.00 14,000.00 SER 2000 OSE ISA 11. 7.000 200000 Balance DO DO sod 7.000.00 11-Sep 1 000 2 100 5701 68.00 15.5 MO 20- 22.00 11 16.000.00 M 120.00 10.000.00 1200 1.500.00 15A SALE 100.000 03 0.003 00 10- 5.000.00 20 123 14.000 BOS 25000 10.00 IS A 7,000 1.500.00 1.500.00 5.000 OM 16:44 7.000.00 11 Sep 5.000 ce 10000 *** Merch 20- 22.00 150000 0 0000 18.500.00 1.500 30 Se 1.500.00 2.400.00 30-M 20 Sep 15 15-AU 15-Sep 30-Sep 20 3050 4925 Balance Balance ce depreciation Dividend 10,000 en Telephone expert 1.Sep 75 10-esp 10.000
