Questions

Answer Sheet provided below if needed for references, thanks

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THANK YOU FOR THE HELP!!!
Steps 1. The following sales on account occurred in March, 2003. Enter this information in the correct journal. XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. GH0468 Ship To: same Invoice No. 678 Sold To: Gerald Hemmings 45 Conway Drive Mount Bridges, ON NOL 150 Date: March 11, 2003 Ship Via: UPS F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 3 3 Pentium Notebooks Unit Price Amount $5,000.00 $ 15,000.00 Subtotal PST GST Total $ 15,000.00 1,200.00 1,050.00 $ 17,250.00 BN 12123 4698 RT XY Consumer Products 687 Nottingham Park Drive London, ON NGA 4V8 Customer No. FM4568 Ship To: same Invoice No. 679 Sold To: Fred Milsom 321 Laurentian Cres. Sarnia, ON N7S 4W4 Date: March 12, 2003 Ship Via: Purolator F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 1 1 UJE Computer Unit Price $1,380.00 Amount $ 1,380.00 Subtotal PST GST Total $1,380.00 110.40 96.60 $ 1,587.00 BN 12123 4698 RT Steps XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. MM0567 Ship To: same Invoice No. 680 Sold To: Mark Mower 67 Dundas Street London, ON NOH 3Y8 Date: March 17, 2003 Ship Via: Pick up Terms: 2/10 n/30 Ordered Shipped Description 2 2 Cabinet - small Unit Price $ 159.00 Amount $ 318.00 Subtotal PST GST Total $ 318.00 25.44 22.26 $365.70 BN 12123 4698 RT 2. The following purchases on account were made during March, 2003. Enter this information in the proper journal. Note: The first invoice is for the purchase of office supplies. The second invoice is for products that will be resold by XY Consumer Products and therefore are PST exempt. Vendor numbers are listed in Step 3. Steps KOffice Products Inc. 740 Chestnut Street London, ON N6A 5C7 SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 Date: 03/04/03 BN 18795 4568 RT Terms 2/10 n/30 Invoice No. PO 99-29 Customer No. 6789-2 QTY DATE Mar. 03 ITEMS Office Supplies PRICE $ 2,297.54 SUBTOTAL TOTAL $ 2,297.54 $ 2,297.54 PST 183.80 160.83 GST TOTAL $ 2,642.17 Steps Johnston Computer Supplies BN 15679 8764 RT 444 Oxford Road South Delaware, ON NOM 2JO SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 DATE TERMS Net 30 03/19/03 662143 INVOICE NO. CUSTOMER NO FFG567 DATE QTY PRICE TOTAL Mar. 18 1 $ 2,471.96 $ 2,471.96 ITEMS Gateway 700X Computer Gateway Plasma Display system 1 $ 3,126.95 $ 3,126.95 SUBTOTAL PST $ 5,598.91 Exempt 391.92 $ 5,990.83 GST TOTAL 3. The following cash disbursements on account were made during March. Enter these disbursements in the proper journal. Date Vendor Name Check No. 1075 Vendor No. 2003 Amount of Check 3,210.00 Mar. 10 JCS001 Johnston Computer Supplies Office Products Inc. Mar. 28 1076 OPI001 2,318.62 4. The following cash was received during March for invoices from the previous month. Enter these receipts on account in the proper journal. Date 2003 Customer Name Customer Account Number Amount of Cash Received 396.75 Mar. 14 Mark Mower MM0567 Mar. 25 Gerald Hemmings GH0468 28,750.00 Steps 5. Mark Mower paid Invoice Number 680 on March 26. Enter the receipt on account in the proper journal. Note: Be sure to record the Sales Discount. 6. Record the following employees' salaries in the Payroll Journal and the Payroll Ledger for the week ended March 7, 2003. Check No. Employee Ee. No. Gross Pay FIT PIT CPP Health Care P825 Phil Arnett A001 493.24 25.70 10.15 21.08 10.36 12.00 P826 Ken Rino A002553.00 59.05 22.20 24.04 11.61 12.00 P827 Jean Trickett A003 488.00 46.90 17.50 20.82 10.25 12.00 7. Post the journal entries from steps 1 through 6 to the subsidiary ledgers. 8. Then, pay the employees on March 10, 2003 from the Cash Disbursements Journal. 9. Using March 31, 2003 as the journal entry date, enter the following items in the General Journal. Bank charges and interest $275.00 bank interest was automatically deducted from XY Consumer Products' bank account this month. Employer's Payroll Deductions Record XY Consumer Products' share of CPP and EI deductions based on the payroll in Step 7. (Calculate for only the one week of salary.) Calculation Note: El deductions are multiplied by 1.4 $2,500.00 from outstanding bank loans was automatically deducted from XY Consumer Products' bank account this month. Payment on Bank Loan 10. Add and balance all the journals. 11. Post the journals to the General Ledger (using March 31 as the entry date). Note: Only selected accounts from the ledgers are provided for you. 12. Complete the Trial Balance as at March 31, 2003 by filling in the shaded areas on the Trial Balance in the Answer Sheets section and balance the Trial Balance. Please check your work carefully. If your Trial Balance does not balance, you have made an error. XY Consumer Products SALES JOURNAL SJO1 Acc Rec Sales PST GST Pay. Cust. General Ledger Date 2003 Customer No. Dr. Cr. Cr. Cr. Acc. # Dr. Cr. 1020 4000 2075 2081 TOTAL XY Consumer Products PURCHASES JOURNAL PJO1 Acc Pay Purchases GST ITC Travel & Ent. General Ledger Date Vendor No. Office Supplies Dr. 2003 Vendor Cr. Dr. Dr. Dr. Acc. # Dr. Cr. 2010 5000 2080 6050 6060 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH RECEIPTS JOURNAL CR01 Bank AR Sales PST Payable GST Receiv. GST Payable Sales Discounts General Ledger Date Customer Name / Description of Receipt Cust. No. Acc. # 2003 Dr. Cr. Cr. Cr. Dr. Cr. Dr. Dr. Cr. 1010 1020 4000 2075 2080 2081 4020 TOTAL XY Consumer Products PAYROLL JOURNAL PRJO1 Gross Pay Deductions CPP EI Total Salaries Fed. and Wages Inc. Tax Dr. Cr. Prov. Inc. Tax Cr. Health Care Cr. Net Pay Payroll Clearing Cr. Cr. Date 2003 Employee Name Ee. # Cr. 2055 6010 2060 2063 2050 2068 2085 TOTAL XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Phil Arnett (519) 667-3467 01/04/95 234 568 458 26 Baker St. East London, ON N6A 4U6 EmpNo. : Cl.Code: Period: A001 6 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Ken Rino (519) 672-8893 01/04/95 638 967 348 16 Little Gray St. London, ON N6C 5R7 EmpNo. : Cl.Code: Period: A002 1 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Jean Trickett (519) 433-1378 10/10/99 807 458 236 1007 Dundas St. E. London, ON NB 415 EmpNo. : Cl.Code: Period: A003 2 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products GENERAL JOURNAL GJO1 Date General Ledger Description Acc # 2003 Debit Credit Mar. 31 Bank Charges & Interest Mar. 31 Employer's Payroll Deductions Mar. 31 Bank Loans XY Consumer Products GENERAL LEDGER 1010 Bank Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Dr. 14.536.00 Jan. 31 CRO1 14,200.66 Dr. 28.736.66 Jan. 31 CD03 28,556.73 Dr. 179.93 Feb. 28 CD01 27.279.49 Cr. 27,099.56 Feb. 28 CRO1 13,890.00 Cr. 13.209.56 Feb. 28 GJO1 150.00 Cr. 13,359.56 Feb. 28 GJO1 20,000.00 Dr. 6,640.44 XY Consumer Products GENERAL LEDGER 1020 Accounts Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Dr. 13,890.00 Jan. 25 GJO1 908.50 Dr. 12,981.50 Jan. 31 SJO1 16,331.92 Dr. 29,313.42 Jan. 31 CRO1 9,197.32 Dr. 20,116.10 Feb. 28 SJO1 30.733.75 Dr. 50.849.85 Feb. 28 CRO1 13,890.00 Dr. 36,959.85 XY Consumer Products GENERAL LEDGER 2010 Accounts Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 19,961.00 Jan. 23 GJO1 323.55 Cr. 19,637.45 Jan. 31 PJO1 19,829.03 Cr. 39,466.48 Jan. 31 CD03 19.829.03 Cr. 19,637.45 Feb. 28 PJO1 8,560.00 Cr. 28,197.45 Feb. 28 CD01 25,311.00 Cr. 2.886.45 XY Consumer Products GENERAL LEDGER 2050 Employment Insurance Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 500.00 Jan. 31 GJO2 88.09 Cr. 588.09 Jan. 31 CD03 500.00 Cr. 88.09 Jan. 31 PRJO1 62.92 Cr. 151.01 Feb. 28 CDO1 151.01 Feb. 28 PRJO1 30.90 Cr. 30.90 Feb. 28 GJO1 43.26 Cr. 74.16 XY Consumer Products GENERAL LEDGER 2055 CPP Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 618.00 Jan. 31 GJO2 128.30 Cr. 746.30 Jan. 31 CD03 618.00 Cr. 128.30 Jan. 31 PRJO1 128.30 Cr. 256.60 Feb. 28 CDO1 256.60 Feb. 28 PRJO1 62.82 Cr. 62.82 Feb. 28 GJO1 62.82 Cr. 125.64 XY Consumer Products GENERAL LEDGER 2060 Employees Federal Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 3,560.00 Jan. 31 CD03 3.560.00 Jan. 31 PRJO1 255.25 Cr. 255.25 Feb. 28 CDO1 255.25 Feb. 28 PRJO1 122.15 Cr. 122.15 XY Consumer Products GENERAL LEDGER 2063 Employees Provincial Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 1,530.00 Jan. 31 CD03 1.530.00 Jan. 31 PRJO1 96.60 Cr. 96.60 Feb. 28 CD01 96.60 Feb. 28 PRJO1 46.35 Cr. 46.35 XY Consumer Products GENERAL LEDGER 2068 Employees Health Care Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 144.00 Jan. 31 CD03 144.00 Jan. 31 PRJO1 36.00 Cr. 36.00 Feb. 28 CDO1 36.00 Feb. 28 PRJO1 36.00 Cr. 36.00 XY Consumer Products GENERAL LEDGER 2075 Provincial Sales Tax Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 25 GJO1 63.20 Dr. 63.20 Jan. 31 SJO1 1,136.13 Cr. 1.072.93 Jan. 31 CR01 1.60 Cr. 1,074.53 Feb. 28 SJO1 2,138.00 Cr. 3,212.53 XY Consumer Products GENERAL LEDGER 2080 GST Input Tax Credits Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 23 GJO1 21.17 Cr. 21.17 Jan. 31 PJO1 1.269.46 Dr. 1.248.29 Jan. 31 CD03 3.22 Dr. 1.251.51 Feb. 28 PJO1 560.00 Dr. 1,811.51 XY Consumer Products GENERAL LEDGER 2081 GST Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 25 GJO1 55.30 Dr. 55.30 Jan. 31 SJO1 994.12 Cr. 938.82 Jan. 31 CRO1 1.40 Cr. 940.22 Feb. 28 SJO1 1,870.75 Cr. 2,810.97 XY Consumer Products GENERAL LEDGER 2085 Payroll Clearing Date 2003 Item Folio Debit Credit Dr. Cr. Balance Feb. 28 CD01 413.95 Dr. 413.95 Feb. 28 CDO1 378.54 Dr. 792.49 Feb. 28 CDO1 380.53 Dr. 1,173.02 Feb. 28 PRJO1 1,173.02 XY Consumer Products GENERAL LEDGER 2120 Bank Loans Dr. Date 2003 Item Folio Debit Credit Balance Cr. Jan. 01 Balance forward Cr. 12,000.00 Feb. 28 20,000.00 Cr. 32,000.00 XY Consumer Products GENERAL LEDGER 4000 Sales Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 4020 Sales Discounts Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 5000 Purchases Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6010 Salaries and Wages Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6020 Employer's Payroll Deductions Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products GENERAL LEDGER 6060 Office Supplies Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6070 Bank Charges & Interest Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products ACCOUNTS PAYABLE LEDGER Vendor: Address: Vend. #: JCS001 Johnston Computer Supplies (519) 674-2355 (519) 674-2356 444 Oxford Road South Delaware, ON NOM 2J0 Phone: Terms: n/30 Fax: Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Cr. 11,569.00 Jan. 12 PJO1 2,645.00 Cr. 14,214.00 Jan. 24 CD01 2,645.00 Cr. 11,569.00 Feb. 02 PJO1 3,210.00 Cr. 14,779.00 Feb. 25 CD01 11,569.00 Cr. 3,210.00 XY Consumer Products ACCOUNTS PAYABLE LEDGER Office Products Vendor: Address: Vend. #: OPI001 740 Chestnut Street London, ON N6A 5C7 Inc. Phone: Terms: 2/10 n/30 (519) 426-5533 (519) 426-5534 Fax: Date 2003 Dr Item Folio Debit Credit Balance Cr. Jan. 10 PJO1 6,103.01 Cr. 6,103.01 Jan. 17 PJO1 4,146.13 Cr. 10,249.14 Jan. 24 CD01 6,103.01 Cr. 4,146.13 Jan. 24 CD01 4,146.13 Jan. 23 GJO1 323.55 Dr. 323.55 Feb. 02 PJO1 5,350.00 Cr. 5,026.45 Feb. 21 CDO1 5,350.00 Dr. 323.55 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Gerald Hemmings (519) 264-1784 (519) 264-1785 45 Conway Drive Mount Bridges, ON NOL 1 SO Cust. No.: Terms: GH0468 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Dr. 8,322.00 Jan. 12 SJO1 483.00 Dr. 8,805.00 Jan. 24 CRO1 483.00 Dr. 8,322.00 Feb. 11 SJO1 28.750.00 Dr. 37,072.00 Feb. 21 CRO1 8,322.00 Dr. 28,750.00 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Fred Milsom (519) 542-4153 (519) 542-4154 321 Laurentian Cres. Sarnia, ON N7S 4W4 Cust. No.: Terms: FM4568 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 17 SJO1 3,449.99 Dr. 3,449.99 Jan. 28 CRO1 3,449.99 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Mark Mower (519) 433-2356 (519) 433-2357 Cust. No.: Terms: Customer: Phone: Fax: Date 2003 67 Dundas Street London, ON NOH 3Y8 MM0567 2/10 n/30 Item Folio Debit Credit Dr Cr. Balance Jan. 13 SJO1 333.49 Dr. 333.49 Jan. 21 CRO1 333.49 Feb. 14 SJO1 396.75 Dr. 396.75 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 1 Account Name G/L Account Number Debit Credit Bank 1010 Accounts Receivable 1020 Inventory 1030 128.178.00 Prepaid Expenses 1040 3,164.24 Land 1110 245,000.00 Buildings 1115 150,000.00 Accumulated Depreciation-Buildings 1116 50,625.00 Equipment 1117 180,956.00 Accumulated Depreciation-Equipment 1118 42,349.26 Automotive 1130 23,900.00 Accumulated Depreciation-Automotive 1131 12,344.30 Accounts Payable 2010 Accrued Expenses 2020 1.960.00 Employment Insurance Payable 2050 CPP Payable 2055 2060 2063 Employees Federal Income Tax Payable Employees Provincial Income Tax Payable Employees Health Care Payable Balance forward 2068 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 2 Account Name G/L Account Number Debit Credit Balance forward Provincial Sales Tax Payable 2075 GST Input Tax Credits Receivable 2080 GST Payable 2081 Payroll Clearing 2085 Mortgages 2110 165,000.00 Bank Loans 2120 Jeff Smith, Capital 3010 463,017.23 Jeff Smith, Drawings 3020 Sales 4000 Sales Returns & Allowances 4010 Sales Discounts 4020 Interest Revenue 4100 Purchases 5000 Purchase Returns & Allowances 5010 Purchase Discounts 5020 Salaries and Wages 6010 Employer's Payroll Deductions 6020 Rent 6030 Balance forward XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 3 Account Name G/L Account Number Debit Credit Balance forward Repairs & Maintenance 6040 Utilities 6045 Travel & Entertainment 6050 Office Supplies 6060 Leases-Equipment 6065 - Bank Charges & Interest 6070 Professional Fees 6080 Depreciation 6090 Property Taxes 6100 - Insurance 6110 - Fees & Dues 6120 - TOTAL Steps 1. The following sales on account occurred in March, 2003. Enter this information in the correct journal. XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. GH0468 Ship To: same Invoice No. 678 Sold To: Gerald Hemmings 45 Conway Drive Mount Bridges, ON NOL 150 Date: March 11, 2003 Ship Via: UPS F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 3 3 Pentium Notebooks Unit Price Amount $5,000.00 $ 15,000.00 Subtotal PST GST Total $ 15,000.00 1,200.00 1,050.00 $ 17,250.00 BN 12123 4698 RT XY Consumer Products 687 Nottingham Park Drive London, ON NGA 4V8 Customer No. FM4568 Ship To: same Invoice No. 679 Sold To: Fred Milsom 321 Laurentian Cres. Sarnia, ON N7S 4W4 Date: March 12, 2003 Ship Via: Purolator F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 1 1 UJE Computer Unit Price $1,380.00 Amount $ 1,380.00 Subtotal PST GST Total $1,380.00 110.40 96.60 $ 1,587.00 BN 12123 4698 RT Steps XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. MM0567 Ship To: same Invoice No. 680 Sold To: Mark Mower 67 Dundas Street London, ON NOH 3Y8 Date: March 17, 2003 Ship Via: Pick up Terms: 2/10 n/30 Ordered Shipped Description 2 2 Cabinet - small Unit Price $ 159.00 Amount $ 318.00 Subtotal PST GST Total $ 318.00 25.44 22.26 $365.70 BN 12123 4698 RT 2. The following purchases on account were made during March, 2003. Enter this information in the proper journal. Note: The first invoice is for the purchase of office supplies. The second invoice is for products that will be resold by XY Consumer Products and therefore are PST exempt. Vendor numbers are listed in Step 3. Steps KOffice Products Inc. 740 Chestnut Street London, ON N6A 5C7 SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 Date: 03/04/03 BN 18795 4568 RT Terms 2/10 n/30 Invoice No. PO 99-29 Customer No. 6789-2 QTY DATE Mar. 03 ITEMS Office Supplies PRICE $ 2,297.54 SUBTOTAL TOTAL $ 2,297.54 $ 2,297.54 PST 183.80 160.83 GST TOTAL $ 2,642.17 Steps Johnston Computer Supplies BN 15679 8764 RT 444 Oxford Road South Delaware, ON NOM 2JO SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 DATE TERMS Net 30 03/19/03 662143 INVOICE NO. CUSTOMER NO FFG567 DATE QTY PRICE TOTAL Mar. 18 1 $ 2,471.96 $ 2,471.96 ITEMS Gateway 700X Computer Gateway Plasma Display system 1 $ 3,126.95 $ 3,126.95 SUBTOTAL PST $ 5,598.91 Exempt 391.92 $ 5,990.83 GST TOTAL 3. The following cash disbursements on account were made during March. Enter these disbursements in the proper journal. Date Vendor Name Check No. 1075 Vendor No. 2003 Amount of Check 3,210.00 Mar. 10 JCS001 Johnston Computer Supplies Office Products Inc. Mar. 28 1076 OPI001 2,318.62 4. The following cash was received during March for invoices from the previous month. Enter these receipts on account in the proper journal. Date 2003 Customer Name Customer Account Number Amount of Cash Received 396.75 Mar. 14 Mark Mower MM0567 Mar. 25 Gerald Hemmings GH0468 28,750.00 Steps 5. Mark Mower paid Invoice Number 680 on March 26. Enter the receipt on account in the proper journal. Note: Be sure to record the Sales Discount. 6. Record the following employees' salaries in the Payroll Journal and the Payroll Ledger for the week ended March 7, 2003. Check No. Employee Ee. No. Gross Pay FIT PIT CPP Health Care P825 Phil Arnett A001 493.24 25.70 10.15 21.08 10.36 12.00 P826 Ken Rino A002553.00 59.05 22.20 24.04 11.61 12.00 P827 Jean Trickett A003 488.00 46.90 17.50 20.82 10.25 12.00 7. Post the journal entries from steps 1 through 6 to the subsidiary ledgers. 8. Then, pay the employees on March 10, 2003 from the Cash Disbursements Journal. 9. Using March 31, 2003 as the journal entry date, enter the following items in the General Journal. Bank charges and interest $275.00 bank interest was automatically deducted from XY Consumer Products' bank account this month. Employer's Payroll Deductions Record XY Consumer Products' share of CPP and EI deductions based on the payroll in Step 7. (Calculate for only the one week of salary.) Calculation Note: El deductions are multiplied by 1.4 $2,500.00 from outstanding bank loans was automatically deducted from XY Consumer Products' bank account this month. Payment on Bank Loan 10. Add and balance all the journals. 11. Post the journals to the General Ledger (using March 31 as the entry date). Note: Only selected accounts from the ledgers are provided for you. 12. Complete the Trial Balance as at March 31, 2003 by filling in the shaded areas on the Trial Balance in the Answer Sheets section and balance the Trial Balance. Please check your work carefully. If your Trial Balance does not balance, you have made an error. XY Consumer Products SALES JOURNAL SJO1 Acc Rec Sales PST GST Pay. Cust. General Ledger Date 2003 Customer No. Dr. Cr. Cr. Cr. Acc. # Dr. Cr. 1020 4000 2075 2081 TOTAL XY Consumer Products PURCHASES JOURNAL PJO1 Acc Pay Purchases GST ITC Travel & Ent. General Ledger Date Vendor No. Office Supplies Dr. 2003 Vendor Cr. Dr. Dr. Dr. Acc. # Dr. Cr. 2010 5000 2080 6050 6060 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH RECEIPTS JOURNAL CR01 Bank AR Sales PST Payable GST Receiv. GST Payable Sales Discounts General Ledger Date Customer Name / Description of Receipt Cust. No. Acc. # 2003 Dr. Cr. Cr. Cr. Dr. Cr. Dr. Dr. Cr. 1010 1020 4000 2075 2080 2081 4020 TOTAL XY Consumer Products PAYROLL JOURNAL PRJO1 Gross Pay Deductions CPP EI Total Salaries Fed. and Wages Inc. Tax Dr. Cr. Prov. Inc. Tax Cr. Health Care Cr. Net Pay Payroll Clearing Cr. Cr. Date 2003 Employee Name Ee. # Cr. 2055 6010 2060 2063 2050 2068 2085 TOTAL XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Phil Arnett (519) 667-3467 01/04/95 234 568 458 26 Baker St. East London, ON N6A 4U6 EmpNo. : Cl.Code: Period: A001 6 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Ken Rino (519) 672-8893 01/04/95 638 967 348 16 Little Gray St. London, ON N6C 5R7 EmpNo. : Cl.Code: Period: A002 1 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Jean Trickett (519) 433-1378 10/10/99 807 458 236 1007 Dundas St. E. London, ON NB 415 EmpNo. : Cl.Code: Period: A003 2 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products GENERAL JOURNAL GJO1 Date General Ledger Description Acc # 2003 Debit Credit Mar. 31 Bank Charges & Interest Mar. 31 Employer's Payroll Deductions Mar. 31 Bank Loans XY Consumer Products GENERAL LEDGER 1010 Bank Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Dr. 14.536.00 Jan. 31 CRO1 14,200.66 Dr. 28.736.66 Jan. 31 CD03 28,556.73 Dr. 179.93 Feb. 28 CD01 27.279.49 Cr. 27,099.56 Feb. 28 CRO1 13,890.00 Cr. 13.209.56 Feb. 28 GJO1 150.00 Cr. 13,359.56 Feb. 28 GJO1 20,000.00 Dr. 6,640.44 XY Consumer Products GENERAL LEDGER 1020 Accounts Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Dr. 13,890.00 Jan. 25 GJO1 908.50 Dr. 12,981.50 Jan. 31 SJO1 16,331.92 Dr. 29,313.42 Jan. 31 CRO1 9,197.32 Dr. 20,116.10 Feb. 28 SJO1 30.733.75 Dr. 50.849.85 Feb. 28 CRO1 13,890.00 Dr. 36,959.85 XY Consumer Products GENERAL LEDGER 2010 Accounts Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 19,961.00 Jan. 23 GJO1 323.55 Cr. 19,637.45 Jan. 31 PJO1 19,829.03 Cr. 39,466.48 Jan. 31 CD03 19.829.03 Cr. 19,637.45 Feb. 28 PJO1 8,560.00 Cr. 28,197.45 Feb. 28 CD01 25,311.00 Cr. 2.886.45 XY Consumer Products GENERAL LEDGER 2050 Employment Insurance Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 500.00 Jan. 31 GJO2 88.09 Cr. 588.09 Jan. 31 CD03 500.00 Cr. 88.09 Jan. 31 PRJO1 62.92 Cr. 151.01 Feb. 28 CDO1 151.01 Feb. 28 PRJO1 30.90 Cr. 30.90 Feb. 28 GJO1 43.26 Cr. 74.16 XY Consumer Products GENERAL LEDGER 2055 CPP Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 618.00 Jan. 31 GJO2 128.30 Cr. 746.30 Jan. 31 CD03 618.00 Cr. 128.30 Jan. 31 PRJO1 128.30 Cr. 256.60 Feb. 28 CDO1 256.60 Feb. 28 PRJO1 62.82 Cr. 62.82 Feb. 28 GJO1 62.82 Cr. 125.64 XY Consumer Products GENERAL LEDGER 2060 Employees Federal Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 3,560.00 Jan. 31 CD03 3.560.00 Jan. 31 PRJO1 255.25 Cr. 255.25 Feb. 28 CDO1 255.25 Feb. 28 PRJO1 122.15 Cr. 122.15 XY Consumer Products GENERAL LEDGER 2063 Employees Provincial Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 1,530.00 Jan. 31 CD03 1.530.00 Jan. 31 PRJO1 96.60 Cr. 96.60 Feb. 28 CD01 96.60 Feb. 28 PRJO1 46.35 Cr. 46.35 XY Consumer Products GENERAL LEDGER 2068 Employees Health Care Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 144.00 Jan. 31 CD03 144.00 Jan. 31 PRJO1 36.00 Cr. 36.00 Feb. 28 CDO1 36.00 Feb. 28 PRJO1 36.00 Cr. 36.00 XY Consumer Products GENERAL LEDGER 2075 Provincial Sales Tax Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 25 GJO1 63.20 Dr. 63.20 Jan. 31 SJO1 1,136.13 Cr. 1.072.93 Jan. 31 CR01 1.60 Cr. 1,074.53 Feb. 28 SJO1 2,138.00 Cr. 3,212.53 XY Consumer Products GENERAL LEDGER 2080 GST Input Tax Credits Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 23 GJO1 21.17 Cr. 21.17 Jan. 31 PJO1 1.269.46 Dr. 1.248.29 Jan. 31 CD03 3.22 Dr. 1.251.51 Feb. 28 PJO1 560.00 Dr. 1,811.51 XY Consumer Products GENERAL LEDGER 2081 GST Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 25 GJO1 55.30 Dr. 55.30 Jan. 31 SJO1 994.12 Cr. 938.82 Jan. 31 CRO1 1.40 Cr. 940.22 Feb. 28 SJO1 1,870.75 Cr. 2,810.97 XY Consumer Products GENERAL LEDGER 2085 Payroll Clearing Date 2003 Item Folio Debit Credit Dr. Cr. Balance Feb. 28 CD01 413.95 Dr. 413.95 Feb. 28 CDO1 378.54 Dr. 792.49 Feb. 28 CDO1 380.53 Dr. 1,173.02 Feb. 28 PRJO1 1,173.02 XY Consumer Products GENERAL LEDGER 2120 Bank Loans Dr. Date 2003 Item Folio Debit Credit Balance Cr. Jan. 01 Balance forward Cr. 12,000.00 Feb. 28 20,000.00 Cr. 32,000.00 XY Consumer Products GENERAL LEDGER 4000 Sales Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 4020 Sales Discounts Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 5000 Purchases Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6010 Salaries and Wages Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6020 Employer's Payroll Deductions Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products GENERAL LEDGER 6060 Office Supplies Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6070 Bank Charges & Interest Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products ACCOUNTS PAYABLE LEDGER Vendor: Address: Vend. #: JCS001 Johnston Computer Supplies (519) 674-2355 (519) 674-2356 444 Oxford Road South Delaware, ON NOM 2J0 Phone: Terms: n/30 Fax: Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Cr. 11,569.00 Jan. 12 PJO1 2,645.00 Cr. 14,214.00 Jan. 24 CD01 2,645.00 Cr. 11,569.00 Feb. 02 PJO1 3,210.00 Cr. 14,779.00 Feb. 25 CD01 11,569.00 Cr. 3,210.00 XY Consumer Products ACCOUNTS PAYABLE LEDGER Office Products Vendor: Address: Vend. #: OPI001 740 Chestnut Street London, ON N6A 5C7 Inc. Phone: Terms: 2/10 n/30 (519) 426-5533 (519) 426-5534 Fax: Date 2003 Dr Item Folio Debit Credit Balance Cr. Jan. 10 PJO1 6,103.01 Cr. 6,103.01 Jan. 17 PJO1 4,146.13 Cr. 10,249.14 Jan. 24 CD01 6,103.01 Cr. 4,146.13 Jan. 24 CD01 4,146.13 Jan. 23 GJO1 323.55 Dr. 323.55 Feb. 02 PJO1 5,350.00 Cr. 5,026.45 Feb. 21 CDO1 5,350.00 Dr. 323.55 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Gerald Hemmings (519) 264-1784 (519) 264-1785 45 Conway Drive Mount Bridges, ON NOL 1 SO Cust. No.: Terms: GH0468 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Dr. 8,322.00 Jan. 12 SJO1 483.00 Dr. 8,805.00 Jan. 24 CRO1 483.00 Dr. 8,322.00 Feb. 11 SJO1 28.750.00 Dr. 37,072.00 Feb. 21 CRO1 8,322.00 Dr. 28,750.00 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Fred Milsom (519) 542-4153 (519) 542-4154 321 Laurentian Cres. Sarnia, ON N7S 4W4 Cust. No.: Terms: FM4568 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 17 SJO1 3,449.99 Dr. 3,449.99 Jan. 28 CRO1 3,449.99 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Mark Mower (519) 433-2356 (519) 433-2357 Cust. No.: Terms: Customer: Phone: Fax: Date 2003 67 Dundas Street London, ON NOH 3Y8 MM0567 2/10 n/30 Item Folio Debit Credit Dr Cr. Balance Jan. 13 SJO1 333.49 Dr. 333.49 Jan. 21 CRO1 333.49 Feb. 14 SJO1 396.75 Dr. 396.75 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 1 Account Name G/L Account Number Debit Credit Bank 1010 Accounts Receivable 1020 Inventory 1030 128.178.00 Prepaid Expenses 1040 3,164.24 Land 1110 245,000.00 Buildings 1115 150,000.00 Accumulated Depreciation-Buildings 1116 50,625.00 Equipment 1117 180,956.00 Accumulated Depreciation-Equipment 1118 42,349.26 Automotive 1130 23,900.00 Accumulated Depreciation-Automotive 1131 12,344.30 Accounts Payable 2010 Accrued Expenses 2020 1.960.00 Employment Insurance Payable 2050 CPP Payable 2055 2060 2063 Employees Federal Income Tax Payable Employees Provincial Income Tax Payable Employees Health Care Payable Balance forward 2068 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 2 Account Name G/L Account Number Debit Credit Balance forward Provincial Sales Tax Payable 2075 GST Input Tax Credits Receivable 2080 GST Payable 2081 Payroll Clearing 2085 Mortgages 2110 165,000.00 Bank Loans 2120 Jeff Smith, Capital 3010 463,017.23 Jeff Smith, Drawings 3020 Sales 4000 Sales Returns & Allowances 4010 Sales Discounts 4020 Interest Revenue 4100 Purchases 5000 Purchase Returns & Allowances 5010 Purchase Discounts 5020 Salaries and Wages 6010 Employer's Payroll Deductions 6020 Rent 6030 Balance forward XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 3 Account Name G/L Account Number Debit Credit Balance forward Repairs & Maintenance 6040 Utilities 6045 Travel & Entertainment 6050 Office Supplies 6060 Leases-Equipment 6065 - Bank Charges & Interest 6070 Professional Fees 6080 Depreciation 6090 Property Taxes 6100 - Insurance 6110 - Fees & Dues 6120 - TOTAL

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Steps 1. The following sales on account occurred in March, 2003. Enter this information in the correct journal. XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. GH0468 Ship To: same Invoice No. 678 Sold To: Gerald Hemmings 45 Conway Drive Mount Bridges, ON NOL 150 Date: March 11, 2003 Ship Via: UPS F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 3 3 Pentium Notebooks Unit Price Amount $5,000.00 $ 15,000.00 Subtotal PST GST Total $ 15,000.00 1,200.00 1,050.00 $ 17,250.00 BN 12123 4698 RT XY Consumer Products 687 Nottingham Park Drive London, ON NGA 4V8 Customer No. FM4568 Ship To: same Invoice No. 679 Sold To: Fred Milsom 321 Laurentian Cres. Sarnia, ON N7S 4W4 Date: March 12, 2003 Ship Via: Purolator F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 1 1 UJE Computer Unit Price $1,380.00 Amount $ 1,380.00 Subtotal PST GST Total $1,380.00 110.40 96.60 $ 1,587.00 BN 12123 4698 RT Steps XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. MM0567 Ship To: same Invoice No. 680 Sold To: Mark Mower 67 Dundas Street London, ON NOH 3Y8 Date: March 17, 2003 Ship Via: Pick up Terms: 2/10 n/30 Ordered Shipped Description 2 2 Cabinet - small Unit Price $ 159.00 Amount $ 318.00 Subtotal PST GST Total $ 318.00 25.44 22.26 $365.70 BN 12123 4698 RT 2. The following purchases on account were made during March, 2003. Enter this information in the proper journal. Note: The first invoice is for the purchase of office supplies. The second invoice is for products that will be resold by XY Consumer Products and therefore are PST exempt. Vendor numbers are listed in Step 3. Steps KOffice Products Inc. 740 Chestnut Street London, ON N6A 5C7 SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 Date: 03/04/03 BN 18795 4568 RT Terms 2/10 n/30 Invoice No. PO 99-29 Customer No. 6789-2 QTY DATE Mar. 03 ITEMS Office Supplies PRICE $ 2,297.54 SUBTOTAL TOTAL $ 2,297.54 $ 2,297.54 PST 183.80 160.83 GST TOTAL $ 2,642.17 Steps Johnston Computer Supplies BN 15679 8764 RT 444 Oxford Road South Delaware, ON NOM 2JO SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 DATE TERMS Net 30 03/19/03 662143 INVOICE NO. CUSTOMER NO FFG567 DATE QTY PRICE TOTAL Mar. 18 1 $ 2,471.96 $ 2,471.96 ITEMS Gateway 700X Computer Gateway Plasma Display system 1 $ 3,126.95 $ 3,126.95 SUBTOTAL PST $ 5,598.91 Exempt 391.92 $ 5,990.83 GST TOTAL 3. The following cash disbursements on account were made during March. Enter these disbursements in the proper journal. Date Vendor Name Check No. 1075 Vendor No. 2003 Amount of Check 3,210.00 Mar. 10 JCS001 Johnston Computer Supplies Office Products Inc. Mar. 28 1076 OPI001 2,318.62 4. The following cash was received during March for invoices from the previous month. Enter these receipts on account in the proper journal. Date 2003 Customer Name Customer Account Number Amount of Cash Received 396.75 Mar. 14 Mark Mower MM0567 Mar. 25 Gerald Hemmings GH0468 28,750.00 Steps 5. Mark Mower paid Invoice Number 680 on March 26. Enter the receipt on account in the proper journal. Note: Be sure to record the Sales Discount. 6. Record the following employees' salaries in the Payroll Journal and the Payroll Ledger for the week ended March 7, 2003. Check No. Employee Ee. No. Gross Pay FIT PIT CPP Health Care P825 Phil Arnett A001 493.24 25.70 10.15 21.08 10.36 12.00 P826 Ken Rino A002553.00 59.05 22.20 24.04 11.61 12.00 P827 Jean Trickett A003 488.00 46.90 17.50 20.82 10.25 12.00 7. Post the journal entries from steps 1 through 6 to the subsidiary ledgers. 8. Then, pay the employees on March 10, 2003 from the Cash Disbursements Journal. 9. Using March 31, 2003 as the journal entry date, enter the following items in the General Journal. Bank charges and interest $275.00 bank interest was automatically deducted from XY Consumer Products' bank account this month. Employer's Payroll Deductions Record XY Consumer Products' share of CPP and EI deductions based on the payroll in Step 7. (Calculate for only the one week of salary.) Calculation Note: El deductions are multiplied by 1.4 $2,500.00 from outstanding bank loans was automatically deducted from XY Consumer Products' bank account this month. Payment on Bank Loan 10. Add and balance all the journals. 11. Post the journals to the General Ledger (using March 31 as the entry date). Note: Only selected accounts from the ledgers are provided for you. 12. Complete the Trial Balance as at March 31, 2003 by filling in the shaded areas on the Trial Balance in the Answer Sheets section and balance the Trial Balance. Please check your work carefully. If your Trial Balance does not balance, you have made an error. XY Consumer Products SALES JOURNAL SJO1 Acc Rec Sales PST GST Pay. Cust. General Ledger Date 2003 Customer No. Dr. Cr. Cr. Cr. Acc. # Dr. Cr. 1020 4000 2075 2081 TOTAL XY Consumer Products PURCHASES JOURNAL PJO1 Acc Pay Purchases GST ITC Travel & Ent. General Ledger Date Vendor No. Office Supplies Dr. 2003 Vendor Cr. Dr. Dr. Dr. Acc. # Dr. Cr. 2010 5000 2080 6050 6060 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH RECEIPTS JOURNAL CR01 Bank AR Sales PST Payable GST Receiv. GST Payable Sales Discounts General Ledger Date Customer Name / Description of Receipt Cust. No. Acc. # 2003 Dr. Cr. Cr. Cr. Dr. Cr. Dr. Dr. Cr. 1010 1020 4000 2075 2080 2081 4020 TOTAL XY Consumer Products PAYROLL JOURNAL PRJO1 Gross Pay Deductions CPP EI Total Salaries Fed. and Wages Inc. Tax Dr. Cr. Prov. Inc. Tax Cr. Health Care Cr. Net Pay Payroll Clearing Cr. Cr. Date 2003 Employee Name Ee. # Cr. 2055 6010 2060 2063 2050 2068 2085 TOTAL XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Phil Arnett (519) 667-3467 01/04/95 234 568 458 26 Baker St. East London, ON N6A 4U6 EmpNo. : Cl.Code: Period: A001 6 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Ken Rino (519) 672-8893 01/04/95 638 967 348 16 Little Gray St. London, ON N6C 5R7 EmpNo. : Cl.Code: Period: A002 1 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Jean Trickett (519) 433-1378 10/10/99 807 458 236 1007 Dundas St. E. London, ON NB 415 EmpNo. : Cl.Code: Period: A003 2 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products GENERAL JOURNAL GJO1 Date General Ledger Description Acc # 2003 Debit Credit Mar. 31 Bank Charges & Interest Mar. 31 Employer's Payroll Deductions Mar. 31 Bank Loans XY Consumer Products GENERAL LEDGER 1010 Bank Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Dr. 14.536.00 Jan. 31 CRO1 14,200.66 Dr. 28.736.66 Jan. 31 CD03 28,556.73 Dr. 179.93 Feb. 28 CD01 27.279.49 Cr. 27,099.56 Feb. 28 CRO1 13,890.00 Cr. 13.209.56 Feb. 28 GJO1 150.00 Cr. 13,359.56 Feb. 28 GJO1 20,000.00 Dr. 6,640.44 XY Consumer Products GENERAL LEDGER 1020 Accounts Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Dr. 13,890.00 Jan. 25 GJO1 908.50 Dr. 12,981.50 Jan. 31 SJO1 16,331.92 Dr. 29,313.42 Jan. 31 CRO1 9,197.32 Dr. 20,116.10 Feb. 28 SJO1 30.733.75 Dr. 50.849.85 Feb. 28 CRO1 13,890.00 Dr. 36,959.85 XY Consumer Products GENERAL LEDGER 2010 Accounts Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 19,961.00 Jan. 23 GJO1 323.55 Cr. 19,637.45 Jan. 31 PJO1 19,829.03 Cr. 39,466.48 Jan. 31 CD03 19.829.03 Cr. 19,637.45 Feb. 28 PJO1 8,560.00 Cr. 28,197.45 Feb. 28 CD01 25,311.00 Cr. 2.886.45 XY Consumer Products GENERAL LEDGER 2050 Employment Insurance Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 500.00 Jan. 31 GJO2 88.09 Cr. 588.09 Jan. 31 CD03 500.00 Cr. 88.09 Jan. 31 PRJO1 62.92 Cr. 151.01 Feb. 28 CDO1 151.01 Feb. 28 PRJO1 30.90 Cr. 30.90 Feb. 28 GJO1 43.26 Cr. 74.16 XY Consumer Products GENERAL LEDGER 2055 CPP Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 618.00 Jan. 31 GJO2 128.30 Cr. 746.30 Jan. 31 CD03 618.00 Cr. 128.30 Jan. 31 PRJO1 128.30 Cr. 256.60 Feb. 28 CDO1 256.60 Feb. 28 PRJO1 62.82 Cr. 62.82 Feb. 28 GJO1 62.82 Cr. 125.64 XY Consumer Products GENERAL LEDGER 2060 Employees Federal Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 3,560.00 Jan. 31 CD03 3.560.00 Jan. 31 PRJO1 255.25 Cr. 255.25 Feb. 28 CDO1 255.25 Feb. 28 PRJO1 122.15 Cr. 122.15 XY Consumer Products GENERAL LEDGER 2063 Employees Provincial Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 1,530.00 Jan. 31 CD03 1.530.00 Jan. 31 PRJO1 96.60 Cr. 96.60 Feb. 28 CD01 96.60 Feb. 28 PRJO1 46.35 Cr. 46.35 XY Consumer Products GENERAL LEDGER 2068 Employees Health Care Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 144.00 Jan. 31 CD03 144.00 Jan. 31 PRJO1 36.00 Cr. 36.00 Feb. 28 CDO1 36.00 Feb. 28 PRJO1 36.00 Cr. 36.00 XY Consumer Products GENERAL LEDGER 2075 Provincial Sales Tax Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 25 GJO1 63.20 Dr. 63.20 Jan. 31 SJO1 1,136.13 Cr. 1.072.93 Jan. 31 CR01 1.60 Cr. 1,074.53 Feb. 28 SJO1 2,138.00 Cr. 3,212.53 XY Consumer Products GENERAL LEDGER 2080 GST Input Tax Credits Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 23 GJO1 21.17 Cr. 21.17 Jan. 31 PJO1 1.269.46 Dr. 1.248.29 Jan. 31 CD03 3.22 Dr. 1.251.51 Feb. 28 PJO1 560.00 Dr. 1,811.51 XY Consumer Products GENERAL LEDGER 2081 GST Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 25 GJO1 55.30 Dr. 55.30 Jan. 31 SJO1 994.12 Cr. 938.82 Jan. 31 CRO1 1.40 Cr. 940.22 Feb. 28 SJO1 1,870.75 Cr. 2,810.97 XY Consumer Products GENERAL LEDGER 2085 Payroll Clearing Date 2003 Item Folio Debit Credit Dr. Cr. Balance Feb. 28 CD01 413.95 Dr. 413.95 Feb. 28 CDO1 378.54 Dr. 792.49 Feb. 28 CDO1 380.53 Dr. 1,173.02 Feb. 28 PRJO1 1,173.02 XY Consumer Products GENERAL LEDGER 2120 Bank Loans Dr. Date 2003 Item Folio Debit Credit Balance Cr. Jan. 01 Balance forward Cr. 12,000.00 Feb. 28 20,000.00 Cr. 32,000.00 XY Consumer Products GENERAL LEDGER 4000 Sales Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 4020 Sales Discounts Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 5000 Purchases Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6010 Salaries and Wages Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6020 Employer's Payroll Deductions Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products GENERAL LEDGER 6060 Office Supplies Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6070 Bank Charges & Interest Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products ACCOUNTS PAYABLE LEDGER Vendor: Address: Vend. #: JCS001 Johnston Computer Supplies (519) 674-2355 (519) 674-2356 444 Oxford Road South Delaware, ON NOM 2J0 Phone: Terms: n/30 Fax: Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Cr. 11,569.00 Jan. 12 PJO1 2,645.00 Cr. 14,214.00 Jan. 24 CD01 2,645.00 Cr. 11,569.00 Feb. 02 PJO1 3,210.00 Cr. 14,779.00 Feb. 25 CD01 11,569.00 Cr. 3,210.00 XY Consumer Products ACCOUNTS PAYABLE LEDGER Office Products Vendor: Address: Vend. #: OPI001 740 Chestnut Street London, ON N6A 5C7 Inc. Phone: Terms: 2/10 n/30 (519) 426-5533 (519) 426-5534 Fax: Date 2003 Dr Item Folio Debit Credit Balance Cr. Jan. 10 PJO1 6,103.01 Cr. 6,103.01 Jan. 17 PJO1 4,146.13 Cr. 10,249.14 Jan. 24 CD01 6,103.01 Cr. 4,146.13 Jan. 24 CD01 4,146.13 Jan. 23 GJO1 323.55 Dr. 323.55 Feb. 02 PJO1 5,350.00 Cr. 5,026.45 Feb. 21 CDO1 5,350.00 Dr. 323.55 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Gerald Hemmings (519) 264-1784 (519) 264-1785 45 Conway Drive Mount Bridges, ON NOL 1 SO Cust. No.: Terms: GH0468 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Dr. 8,322.00 Jan. 12 SJO1 483.00 Dr. 8,805.00 Jan. 24 CRO1 483.00 Dr. 8,322.00 Feb. 11 SJO1 28.750.00 Dr. 37,072.00 Feb. 21 CRO1 8,322.00 Dr. 28,750.00 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Fred Milsom (519) 542-4153 (519) 542-4154 321 Laurentian Cres. Sarnia, ON N7S 4W4 Cust. No.: Terms: FM4568 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 17 SJO1 3,449.99 Dr. 3,449.99 Jan. 28 CRO1 3,449.99 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Mark Mower (519) 433-2356 (519) 433-2357 Cust. No.: Terms: Customer: Phone: Fax: Date 2003 67 Dundas Street London, ON NOH 3Y8 MM0567 2/10 n/30 Item Folio Debit Credit Dr Cr. Balance Jan. 13 SJO1 333.49 Dr. 333.49 Jan. 21 CRO1 333.49 Feb. 14 SJO1 396.75 Dr. 396.75 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 1 Account Name G/L Account Number Debit Credit Bank 1010 Accounts Receivable 1020 Inventory 1030 128.178.00 Prepaid Expenses 1040 3,164.24 Land 1110 245,000.00 Buildings 1115 150,000.00 Accumulated Depreciation-Buildings 1116 50,625.00 Equipment 1117 180,956.00 Accumulated Depreciation-Equipment 1118 42,349.26 Automotive 1130 23,900.00 Accumulated Depreciation-Automotive 1131 12,344.30 Accounts Payable 2010 Accrued Expenses 2020 1.960.00 Employment Insurance Payable 2050 CPP Payable 2055 2060 2063 Employees Federal Income Tax Payable Employees Provincial Income Tax Payable Employees Health Care Payable Balance forward 2068 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 2 Account Name G/L Account Number Debit Credit Balance forward Provincial Sales Tax Payable 2075 GST Input Tax Credits Receivable 2080 GST Payable 2081 Payroll Clearing 2085 Mortgages 2110 165,000.00 Bank Loans 2120 Jeff Smith, Capital 3010 463,017.23 Jeff Smith, Drawings 3020 Sales 4000 Sales Returns & Allowances 4010 Sales Discounts 4020 Interest Revenue 4100 Purchases 5000 Purchase Returns & Allowances 5010 Purchase Discounts 5020 Salaries and Wages 6010 Employer's Payroll Deductions 6020 Rent 6030 Balance forward XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 3 Account Name G/L Account Number Debit Credit Balance forward Repairs & Maintenance 6040 Utilities 6045 Travel & Entertainment 6050 Office Supplies 6060 Leases-Equipment 6065 - Bank Charges & Interest 6070 Professional Fees 6080 Depreciation 6090 Property Taxes 6100 - Insurance 6110 - Fees & Dues 6120 - TOTAL Steps 1. The following sales on account occurred in March, 2003. Enter this information in the correct journal. XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. GH0468 Ship To: same Invoice No. 678 Sold To: Gerald Hemmings 45 Conway Drive Mount Bridges, ON NOL 150 Date: March 11, 2003 Ship Via: UPS F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 3 3 Pentium Notebooks Unit Price Amount $5,000.00 $ 15,000.00 Subtotal PST GST Total $ 15,000.00 1,200.00 1,050.00 $ 17,250.00 BN 12123 4698 RT XY Consumer Products 687 Nottingham Park Drive London, ON NGA 4V8 Customer No. FM4568 Ship To: same Invoice No. 679 Sold To: Fred Milsom 321 Laurentian Cres. Sarnia, ON N7S 4W4 Date: March 12, 2003 Ship Via: Purolator F.O.B. Terms: 2/10 n/30 Ordered Shipped Description 1 1 UJE Computer Unit Price $1,380.00 Amount $ 1,380.00 Subtotal PST GST Total $1,380.00 110.40 96.60 $ 1,587.00 BN 12123 4698 RT Steps XY Consumer Products 687 Nottingham Park Drive London, ON N6A 4V8 Customer No. MM0567 Ship To: same Invoice No. 680 Sold To: Mark Mower 67 Dundas Street London, ON NOH 3Y8 Date: March 17, 2003 Ship Via: Pick up Terms: 2/10 n/30 Ordered Shipped Description 2 2 Cabinet - small Unit Price $ 159.00 Amount $ 318.00 Subtotal PST GST Total $ 318.00 25.44 22.26 $365.70 BN 12123 4698 RT 2. The following purchases on account were made during March, 2003. Enter this information in the proper journal. Note: The first invoice is for the purchase of office supplies. The second invoice is for products that will be resold by XY Consumer Products and therefore are PST exempt. Vendor numbers are listed in Step 3. Steps KOffice Products Inc. 740 Chestnut Street London, ON N6A 5C7 SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 Date: 03/04/03 BN 18795 4568 RT Terms 2/10 n/30 Invoice No. PO 99-29 Customer No. 6789-2 QTY DATE Mar. 03 ITEMS Office Supplies PRICE $ 2,297.54 SUBTOTAL TOTAL $ 2,297.54 $ 2,297.54 PST 183.80 160.83 GST TOTAL $ 2,642.17 Steps Johnston Computer Supplies BN 15679 8764 RT 444 Oxford Road South Delaware, ON NOM 2JO SOLD TO: XY Consumer Products 687 Nottingham Park Drive London, ON N6A 418 DATE TERMS Net 30 03/19/03 662143 INVOICE NO. CUSTOMER NO FFG567 DATE QTY PRICE TOTAL Mar. 18 1 $ 2,471.96 $ 2,471.96 ITEMS Gateway 700X Computer Gateway Plasma Display system 1 $ 3,126.95 $ 3,126.95 SUBTOTAL PST $ 5,598.91 Exempt 391.92 $ 5,990.83 GST TOTAL 3. The following cash disbursements on account were made during March. Enter these disbursements in the proper journal. Date Vendor Name Check No. 1075 Vendor No. 2003 Amount of Check 3,210.00 Mar. 10 JCS001 Johnston Computer Supplies Office Products Inc. Mar. 28 1076 OPI001 2,318.62 4. The following cash was received during March for invoices from the previous month. Enter these receipts on account in the proper journal. Date 2003 Customer Name Customer Account Number Amount of Cash Received 396.75 Mar. 14 Mark Mower MM0567 Mar. 25 Gerald Hemmings GH0468 28,750.00 Steps 5. Mark Mower paid Invoice Number 680 on March 26. Enter the receipt on account in the proper journal. Note: Be sure to record the Sales Discount. 6. Record the following employees' salaries in the Payroll Journal and the Payroll Ledger for the week ended March 7, 2003. Check No. Employee Ee. No. Gross Pay FIT PIT CPP Health Care P825 Phil Arnett A001 493.24 25.70 10.15 21.08 10.36 12.00 P826 Ken Rino A002553.00 59.05 22.20 24.04 11.61 12.00 P827 Jean Trickett A003 488.00 46.90 17.50 20.82 10.25 12.00 7. Post the journal entries from steps 1 through 6 to the subsidiary ledgers. 8. Then, pay the employees on March 10, 2003 from the Cash Disbursements Journal. 9. Using March 31, 2003 as the journal entry date, enter the following items in the General Journal. Bank charges and interest $275.00 bank interest was automatically deducted from XY Consumer Products' bank account this month. Employer's Payroll Deductions Record XY Consumer Products' share of CPP and EI deductions based on the payroll in Step 7. (Calculate for only the one week of salary.) Calculation Note: El deductions are multiplied by 1.4 $2,500.00 from outstanding bank loans was automatically deducted from XY Consumer Products' bank account this month. Payment on Bank Loan 10. Add and balance all the journals. 11. Post the journals to the General Ledger (using March 31 as the entry date). Note: Only selected accounts from the ledgers are provided for you. 12. Complete the Trial Balance as at March 31, 2003 by filling in the shaded areas on the Trial Balance in the Answer Sheets section and balance the Trial Balance. Please check your work carefully. If your Trial Balance does not balance, you have made an error. XY Consumer Products SALES JOURNAL SJO1 Acc Rec Sales PST GST Pay. Cust. General Ledger Date 2003 Customer No. Dr. Cr. Cr. Cr. Acc. # Dr. Cr. 1020 4000 2075 2081 TOTAL XY Consumer Products PURCHASES JOURNAL PJO1 Acc Pay Purchases GST ITC Travel & Ent. General Ledger Date Vendor No. Office Supplies Dr. 2003 Vendor Cr. Dr. Dr. Dr. Acc. # Dr. Cr. 2010 5000 2080 6050 6060 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH DISBURSEMENTS JOURNAL CD01 Bank AP Purchases Purchase Discounts GST Receiv. GST Payable General Ledger Date Vendor Vendor Name/ Check Description No. Acc. # 2003 No. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr. 1010 2010 5000 5020 2080 2081 TOTAL XY Consumer Products CASH RECEIPTS JOURNAL CR01 Bank AR Sales PST Payable GST Receiv. GST Payable Sales Discounts General Ledger Date Customer Name / Description of Receipt Cust. No. Acc. # 2003 Dr. Cr. Cr. Cr. Dr. Cr. Dr. Dr. Cr. 1010 1020 4000 2075 2080 2081 4020 TOTAL XY Consumer Products PAYROLL JOURNAL PRJO1 Gross Pay Deductions CPP EI Total Salaries Fed. and Wages Inc. Tax Dr. Cr. Prov. Inc. Tax Cr. Health Care Cr. Net Pay Payroll Clearing Cr. Cr. Date 2003 Employee Name Ee. # Cr. 2055 6010 2060 2063 2050 2068 2085 TOTAL XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Phil Arnett (519) 667-3467 01/04/95 234 568 458 26 Baker St. East London, ON N6A 4U6 EmpNo. : Cl.Code: Period: A001 6 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Ken Rino (519) 672-8893 01/04/95 638 967 348 16 Little Gray St. London, ON N6C 5R7 EmpNo. : Cl.Code: Period: A002 1 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP Health Care Net Pay XY Consumer Products PAYROLL LEDGER Address: Employee: Phone: Start Date: SIN: Pay Ending Jean Trickett (519) 433-1378 10/10/99 807 458 236 1007 Dundas St. E. London, ON NB 415 EmpNo. : Cl.Code: Period: A003 2 Weekly Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay XY Consumer Products GENERAL JOURNAL GJO1 Date General Ledger Description Acc # 2003 Debit Credit Mar. 31 Bank Charges & Interest Mar. 31 Employer's Payroll Deductions Mar. 31 Bank Loans XY Consumer Products GENERAL LEDGER 1010 Bank Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Dr. 14.536.00 Jan. 31 CRO1 14,200.66 Dr. 28.736.66 Jan. 31 CD03 28,556.73 Dr. 179.93 Feb. 28 CD01 27.279.49 Cr. 27,099.56 Feb. 28 CRO1 13,890.00 Cr. 13.209.56 Feb. 28 GJO1 150.00 Cr. 13,359.56 Feb. 28 GJO1 20,000.00 Dr. 6,640.44 XY Consumer Products GENERAL LEDGER 1020 Accounts Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Dr. 13,890.00 Jan. 25 GJO1 908.50 Dr. 12,981.50 Jan. 31 SJO1 16,331.92 Dr. 29,313.42 Jan. 31 CRO1 9,197.32 Dr. 20,116.10 Feb. 28 SJO1 30.733.75 Dr. 50.849.85 Feb. 28 CRO1 13,890.00 Dr. 36,959.85 XY Consumer Products GENERAL LEDGER 2010 Accounts Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 19,961.00 Jan. 23 GJO1 323.55 Cr. 19,637.45 Jan. 31 PJO1 19,829.03 Cr. 39,466.48 Jan. 31 CD03 19.829.03 Cr. 19,637.45 Feb. 28 PJO1 8,560.00 Cr. 28,197.45 Feb. 28 CD01 25,311.00 Cr. 2.886.45 XY Consumer Products GENERAL LEDGER 2050 Employment Insurance Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 500.00 Jan. 31 GJO2 88.09 Cr. 588.09 Jan. 31 CD03 500.00 Cr. 88.09 Jan. 31 PRJO1 62.92 Cr. 151.01 Feb. 28 CDO1 151.01 Feb. 28 PRJO1 30.90 Cr. 30.90 Feb. 28 GJO1 43.26 Cr. 74.16 XY Consumer Products GENERAL LEDGER 2055 CPP Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 01 Balance forward Cr. 618.00 Jan. 31 GJO2 128.30 Cr. 746.30 Jan. 31 CD03 618.00 Cr. 128.30 Jan. 31 PRJO1 128.30 Cr. 256.60 Feb. 28 CDO1 256.60 Feb. 28 PRJO1 62.82 Cr. 62.82 Feb. 28 GJO1 62.82 Cr. 125.64 XY Consumer Products GENERAL LEDGER 2060 Employees Federal Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 3,560.00 Jan. 31 CD03 3.560.00 Jan. 31 PRJO1 255.25 Cr. 255.25 Feb. 28 CDO1 255.25 Feb. 28 PRJO1 122.15 Cr. 122.15 XY Consumer Products GENERAL LEDGER 2063 Employees Provincial Income Tax Payable Dr. Credit Balance Cr. Date 2003 Item Folio Debit Jan. 01 Balance forward Cr. 1,530.00 Jan. 31 CD03 1.530.00 Jan. 31 PRJO1 96.60 Cr. 96.60 Feb. 28 CD01 96.60 Feb. 28 PRJO1 46.35 Cr. 46.35 XY Consumer Products GENERAL LEDGER 2068 Employees Health Care Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 01 Balance forward Cr. 144.00 Jan. 31 CD03 144.00 Jan. 31 PRJO1 36.00 Cr. 36.00 Feb. 28 CDO1 36.00 Feb. 28 PRJO1 36.00 Cr. 36.00 XY Consumer Products GENERAL LEDGER 2075 Provincial Sales Tax Payable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 25 GJO1 63.20 Dr. 63.20 Jan. 31 SJO1 1,136.13 Cr. 1.072.93 Jan. 31 CR01 1.60 Cr. 1,074.53 Feb. 28 SJO1 2,138.00 Cr. 3,212.53 XY Consumer Products GENERAL LEDGER 2080 GST Input Tax Credits Receivable Dr. Balance Cr. Date 2003 Item Folio Debit Credit Jan. 23 GJO1 21.17 Cr. 21.17 Jan. 31 PJO1 1.269.46 Dr. 1.248.29 Jan. 31 CD03 3.22 Dr. 1.251.51 Feb. 28 PJO1 560.00 Dr. 1,811.51 XY Consumer Products GENERAL LEDGER 2081 GST Payable Date 2003 Item Folio Debit Credit Dr. Cr. Balance Jan. 25 GJO1 55.30 Dr. 55.30 Jan. 31 SJO1 994.12 Cr. 938.82 Jan. 31 CRO1 1.40 Cr. 940.22 Feb. 28 SJO1 1,870.75 Cr. 2,810.97 XY Consumer Products GENERAL LEDGER 2085 Payroll Clearing Date 2003 Item Folio Debit Credit Dr. Cr. Balance Feb. 28 CD01 413.95 Dr. 413.95 Feb. 28 CDO1 378.54 Dr. 792.49 Feb. 28 CDO1 380.53 Dr. 1,173.02 Feb. 28 PRJO1 1,173.02 XY Consumer Products GENERAL LEDGER 2120 Bank Loans Dr. Date 2003 Item Folio Debit Credit Balance Cr. Jan. 01 Balance forward Cr. 12,000.00 Feb. 28 20,000.00 Cr. 32,000.00 XY Consumer Products GENERAL LEDGER 4000 Sales Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 4020 Sales Discounts Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 5000 Purchases Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6010 Salaries and Wages Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6020 Employer's Payroll Deductions Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products GENERAL LEDGER 6060 Office Supplies Date 2003 Item Folio Debit Credit Dr. Cr. Balance XY Consumer Products GENERAL LEDGER 6070 Bank Charges & Interest Dr. Balance Cr. Date 2003 Item Folio Debit Credit XY Consumer Products ACCOUNTS PAYABLE LEDGER Vendor: Address: Vend. #: JCS001 Johnston Computer Supplies (519) 674-2355 (519) 674-2356 444 Oxford Road South Delaware, ON NOM 2J0 Phone: Terms: n/30 Fax: Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Cr. 11,569.00 Jan. 12 PJO1 2,645.00 Cr. 14,214.00 Jan. 24 CD01 2,645.00 Cr. 11,569.00 Feb. 02 PJO1 3,210.00 Cr. 14,779.00 Feb. 25 CD01 11,569.00 Cr. 3,210.00 XY Consumer Products ACCOUNTS PAYABLE LEDGER Office Products Vendor: Address: Vend. #: OPI001 740 Chestnut Street London, ON N6A 5C7 Inc. Phone: Terms: 2/10 n/30 (519) 426-5533 (519) 426-5534 Fax: Date 2003 Dr Item Folio Debit Credit Balance Cr. Jan. 10 PJO1 6,103.01 Cr. 6,103.01 Jan. 17 PJO1 4,146.13 Cr. 10,249.14 Jan. 24 CD01 6,103.01 Cr. 4,146.13 Jan. 24 CD01 4,146.13 Jan. 23 GJO1 323.55 Dr. 323.55 Feb. 02 PJO1 5,350.00 Cr. 5,026.45 Feb. 21 CDO1 5,350.00 Dr. 323.55 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Gerald Hemmings (519) 264-1784 (519) 264-1785 45 Conway Drive Mount Bridges, ON NOL 1 SO Cust. No.: Terms: GH0468 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 01 Balance forward Dr. 8,322.00 Jan. 12 SJO1 483.00 Dr. 8,805.00 Jan. 24 CRO1 483.00 Dr. 8,322.00 Feb. 11 SJO1 28.750.00 Dr. 37,072.00 Feb. 21 CRO1 8,322.00 Dr. 28,750.00 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Customer: Phone: Fax: Fred Milsom (519) 542-4153 (519) 542-4154 321 Laurentian Cres. Sarnia, ON N7S 4W4 Cust. No.: Terms: FM4568 2/10 n/30 Date 2003 Item Folio Debit Credit Dr Cr. Balance Jan. 17 SJO1 3,449.99 Dr. 3,449.99 Jan. 28 CRO1 3,449.99 XY Consumer Products ACCOUNTS RECEIVABLE LEDGER Address: Mark Mower (519) 433-2356 (519) 433-2357 Cust. No.: Terms: Customer: Phone: Fax: Date 2003 67 Dundas Street London, ON NOH 3Y8 MM0567 2/10 n/30 Item Folio Debit Credit Dr Cr. Balance Jan. 13 SJO1 333.49 Dr. 333.49 Jan. 21 CRO1 333.49 Feb. 14 SJO1 396.75 Dr. 396.75 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 1 Account Name G/L Account Number Debit Credit Bank 1010 Accounts Receivable 1020 Inventory 1030 128.178.00 Prepaid Expenses 1040 3,164.24 Land 1110 245,000.00 Buildings 1115 150,000.00 Accumulated Depreciation-Buildings 1116 50,625.00 Equipment 1117 180,956.00 Accumulated Depreciation-Equipment 1118 42,349.26 Automotive 1130 23,900.00 Accumulated Depreciation-Automotive 1131 12,344.30 Accounts Payable 2010 Accrued Expenses 2020 1.960.00 Employment Insurance Payable 2050 CPP Payable 2055 2060 2063 Employees Federal Income Tax Payable Employees Provincial Income Tax Payable Employees Health Care Payable Balance forward 2068 XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 2 Account Name G/L Account Number Debit Credit Balance forward Provincial Sales Tax Payable 2075 GST Input Tax Credits Receivable 2080 GST Payable 2081 Payroll Clearing 2085 Mortgages 2110 165,000.00 Bank Loans 2120 Jeff Smith, Capital 3010 463,017.23 Jeff Smith, Drawings 3020 Sales 4000 Sales Returns & Allowances 4010 Sales Discounts 4020 Interest Revenue 4100 Purchases 5000 Purchase Returns & Allowances 5010 Purchase Discounts 5020 Salaries and Wages 6010 Employer's Payroll Deductions 6020 Rent 6030 Balance forward XY Consumer Products TRIAL BALANCE, MARCH 31, 2003 GENERAL LEDGER Page 3 Account Name G/L Account Number Debit Credit Balance forward Repairs & Maintenance 6040 Utilities 6045 Travel & Entertainment 6050 Office Supplies 6060 Leases-Equipment 6065 - Bank Charges & Interest 6070 Professional Fees 6080 Depreciation 6090 Property Taxes 6100 - Insurance 6110 - Fees & Dues 6120 - TOTAL