Reinfor Activity 3-Pax An Accounting Cycle for a Corporati Journalizing and Posting Transactions General Ledger Restaurant Warehouse, Inc., Chart of Accounts 3720. Paldin Capital in 205 Retained Gaming 1210 Diends 3215 Income Summary Income Statement Accounts (4000) OPERATING REVENUE 4105 Sales 4110 Sales Discount 4115 Sales Returns and Allow (5000) COST OF GOODS SOLD 5105 Purchases 5110 Purchases Discount 5115 Purchases Returns and Arown (6000) OPERATING EXPENSES 6105 Advertising Expense 6110 Cash Short and Over 6115 Credit Card Fee Expense 6120 Depreciation Expense Orce Equit 6125 Depreciation Expense Warehouse Balance Sheet Accounts (1000) ASSETS 1100 Gretet 10 1110 Prey THIS Accounts Receivable 7120 Ace for collectible Accounts 1125 Notes Receivable T120 Best Receivable 1135 Merchandise inventory 1140 Supplies 1145 Prepaid in 2200 plant Asset 12205 Office Equipment 1210 Accumulated Depreciation - Office Equipment 1215 Marehouse Equipment 1220 Accumulated Depreciation ---Warehouse Equipment (2000) LIABILITIES 2100 Current Labilities 2105 Accounts Payable 2110 Sales Tax Payable 2015 Notes Payable 2120 Interest Payable 2125 Uhamed Rent Income 2130 Employee Income Tax Payable 2135 Social Security Tax Payable 2140 Medicare Tax Payable 2145 Medical Insurance Payable 2150 Unemployment Tax Payable--State 2755 Unemployment Tax Payable Federal 2160 Federal Income Tax Payable 2165 Dividends Payable 2200 Long Term Labilities 2205 Bonds Payable (3000) STOCKHOLDERS' EQUITY 3105 Capital Stock Common 3110 Paid in Capital in Excess of Par--Common 3115 Capital Stock-Preferred 6130 Insurance Expense 6135 Miscellaneous Expenses 6140 Payroll Taxes Expense 6145 Rent Expense 6150 Repairs Expense 6155 Salary Expense 6160 Supplies Expense 6165 Uncollectible Accounts Expense 6170 Utilities Expense 6200 Income Tax Expense 6205 Federal Income Tax Expense (7000) OTHER REVENUE 7105 Interest Income 7110 Rent Income 7115 Gain on Plant Assets (8000) OTHER EXPENSES 8105 Interest Expense 8110 Loss on Plant Assets Subsidiary Ledgers Accounts Payable Ledger 210 Bok Supply Company 220 Dreyfus Company 230 Glommen Company 240 Hilton Supply 250 Sarr Corp. 260 Winona Manufacturing An Accounting Cycle for a Corporation: Journalizing and Posting Accounts Receivable Ledger 110 Bakery Depot 120 Ferndale Cafe 130 Hilltop Hospital 140 Huang Restaurant 150 Northside Catering 160 Rap DVI 644 Reinforcement Activity 3-Part A nts recording Transactions her accounts for the end Angers are given in the Working Paper Tractions e period December through December 23 hay mand and individualems have been pented INSTRUCTIONS the following transactions completed werk in December of the current year. Rest we offers sales terms of 2/10,0. The bestaat Post the following transactions when journalin(1) actions acting the receivable pumaland (3) amounts entered in a general pole subsidiary ledgers, (2transactions recorded in the of the cash payments and cash recita de documents are abbreviated as follows check VOR terminal summary. Se debit memorandum, OM andumMt purchase invoice, Preciosas memorandum. Mnote payable, NP Dec. 26 Received cash for the maturity value of NR2, a 27. Recorded cash and credit card sales. $4,614.00, plus sales tax. $280.44, total 54.95444. TSAO. Des Recorded payment of credit card or expert, 16.00M2 10. Pached workstation for use in the end for use in the warehouse in a lump sum traction, 530,000.00. The workstation hasan med 511,000, and the forman edo 522,000 0.034. Open plant cod for eachem Workstation plant 452 werbe Massette Year estimated luge value, 51.000.00. For planteral number 124KYG Mesyuar, estimated salvage valve, 53,000.00 Paid cash to replenish the petty cash fund, $169 2. apples, 525.00, advertising, 5100.00 Miscellaneous 54.74hshort.50.18. CAS. 3. Paid cash for semimonthly payroll $4413.72 total payroll. 55.520.00, less deductions employee income tax 5304.00: social security tax, 514224 Medicare a 0.04, medical Insurance, 5380.00.346. 11. Recorded employer payrollare 5484.28. for the 90-day, 12 note for 511,600.00.454. Semimahly pay period ended December 31. we are social security, $342.26 Medicare, $80. De state unemployment tax, 554.00, and federal 28. Sold merchandise on account to Huang unemployment tax. 58.00, M33. Restaurant. $5,000.00, plus sales tax. 5428 31. Recorded cash and credit card sales, 5930.00, plus sales tax. 555.30, total 5985801541 26. Purchased merchandise on account from Dreyfus Company, 512,296.00.P190 31. Paid semiannual interest on bonds payable. $1.200.00.C347 28. Signed a 90-day, 10% note, for $12,000.00 with Northstar National Bank. NP22 and R455 2. Prove and rule the sales journal. Pout the totals of the special columns 28. Received cash for sale of a computer, plant asset No. 284,5300.00, M29 and 1456. Update the 3. Total and rule the purchases journal. Post the total plant asset record and record the sale. 4. Prove the quality of debits and credits for the cash receipts 28. Received cash in full payment of Bakery Depot's and cash payments journals. account previously written off as uncollectible, 5. Prove cash. The balance on the next unused checkstub is $25,001.40 $1,896.00. M30 and R457. 19. Paid $1,000.00 on the outstanding balance of 6. Rule the cash receipts journal. Post the totals of the special columns the Sarr Corp. account.C343. 29. Issued 500 shares of $10.00 par value common 7. Rule the cash payments journal. Post, the total of the stock at $50.00 per share. R458 special columns 29. Issued 300 shares of 5%, 550.00 par value 8. Prepare a schedule of accounts receivable and a schedule preferred stock at par value, 515,000.00 R459. of accounts payable. Prove the accuracy of the subsidiary ledgers by comparing the schedule totals with the balances 7. Rao Deli dishonored NR29, a 60-day, 12% note, for $6,000.00. M31. of the controlling accounts in the general ledger. I the totals are not the same, find and correct the errors. The ledgers and plant asset records used in Reinforcement Activity 3--Part are needed to complete Reinforcement Activity - Part B. An Accounting Cycle for a Corporation: Journalising and Posting Transactions Reinforcement Activity 3-Part A 645 Reinfor Activity 3-Pax An Accounting Cycle for a Corporati Journalizing and Posting Transactions General Ledger Restaurant Warehouse, Inc., Chart of Accounts 3720. Paldin Capital in 205 Retained Gaming 1210 Diends 3215 Income Summary Income Statement Accounts (4000) OPERATING REVENUE 4105 Sales 4110 Sales Discount 4115 Sales Returns and Allow (5000) COST OF GOODS SOLD 5105 Purchases 5110 Purchases Discount 5115 Purchases Returns and Arown (6000) OPERATING EXPENSES 6105 Advertising Expense 6110 Cash Short and Over 6115 Credit Card Fee Expense 6120 Depreciation Expense Orce Equit 6125 Depreciation Expense Warehouse Balance Sheet Accounts (1000) ASSETS 1100 Gretet 10 1110 Prey THIS Accounts Receivable 7120 Ace for collectible Accounts 1125 Notes Receivable T120 Best Receivable 1135 Merchandise inventory 1140 Supplies 1145 Prepaid in 2200 plant Asset 12205 Office Equipment 1210 Accumulated Depreciation - Office Equipment 1215 Marehouse Equipment 1220 Accumulated Depreciation ---Warehouse Equipment (2000) LIABILITIES 2100 Current Labilities 2105 Accounts Payable 2110 Sales Tax Payable 2015 Notes Payable 2120 Interest Payable 2125 Uhamed Rent Income 2130 Employee Income Tax Payable 2135 Social Security Tax Payable 2140 Medicare Tax Payable 2145 Medical Insurance Payable 2150 Unemployment Tax Payable--State 2755 Unemployment Tax Payable Federal 2160 Federal Income Tax Payable 2165 Dividends Payable 2200 Long Term Labilities 2205 Bonds Payable (3000) STOCKHOLDERS' EQUITY 3105 Capital Stock Common 3110 Paid in Capital in Excess of Par--Common 3115 Capital Stock-Preferred 6130 Insurance Expense 6135 Miscellaneous Expenses 6140 Payroll Taxes Expense 6145 Rent Expense 6150 Repairs Expense 6155 Salary Expense 6160 Supplies Expense 6165 Uncollectible Accounts Expense 6170 Utilities Expense 6200 Income Tax Expense 6205 Federal Income Tax Expense (7000) OTHER REVENUE 7105 Interest Income 7110 Rent Income 7115 Gain on Plant Assets (8000) OTHER EXPENSES 8105 Interest Expense 8110 Loss on Plant Assets Subsidiary Ledgers Accounts Payable Ledger 210 Bok Supply Company 220 Dreyfus Company 230 Glommen Company 240 Hilton Supply 250 Sarr Corp. 260 Winona Manufacturing An Accounting Cycle for a Corporation: Journalizing and Posting Accounts Receivable Ledger 110 Bakery Depot 120 Ferndale Cafe 130 Hilltop Hospital 140 Huang Restaurant 150 Northside Catering 160 Rap DVI 644 Reinforcement Activity 3-Part A nts recording Transactions her accounts for the end Angers are given in the Working Paper Tractions e period December through December 23 hay mand and individualems have been pented INSTRUCTIONS the following transactions completed werk in December of the current year. Rest we offers sales terms of 2/10,0. The bestaat Post the following transactions when journalin(1) actions acting the receivable pumaland (3) amounts entered in a general pole subsidiary ledgers, (2transactions recorded in the of the cash payments and cash recita de documents are abbreviated as follows check VOR terminal summary. Se debit memorandum, OM andumMt purchase invoice, Preciosas memorandum. Mnote payable, NP Dec. 26 Received cash for the maturity value of NR2, a 27. Recorded cash and credit card sales. $4,614.00, plus sales tax. $280.44, total 54.95444. TSAO. Des Recorded payment of credit card or expert, 16.00M2 10. Pached workstation for use in the end for use in the warehouse in a lump sum traction, 530,000.00. The workstation hasan med 511,000, and the forman edo 522,000 0.034. Open plant cod for eachem Workstation plant 452 werbe Massette Year estimated luge value, 51.000.00. For planteral number 124KYG Mesyuar, estimated salvage valve, 53,000.00 Paid cash to replenish the petty cash fund, $169 2. apples, 525.00, advertising, 5100.00 Miscellaneous 54.74hshort.50.18. CAS. 3. Paid cash for semimonthly payroll $4413.72 total payroll. 55.520.00, less deductions employee income tax 5304.00: social security tax, 514224 Medicare a 0.04, medical Insurance, 5380.00.346. 11. Recorded employer payrollare 5484.28. for the 90-day, 12 note for 511,600.00.454. Semimahly pay period ended December 31. we are social security, $342.26 Medicare, $80. De state unemployment tax, 554.00, and federal 28. Sold merchandise on account to Huang unemployment tax. 58.00, M33. Restaurant. $5,000.00, plus sales tax. 5428 31. Recorded cash and credit card sales, 5930.00, plus sales tax. 555.30, total 5985801541 26. Purchased merchandise on account from Dreyfus Company, 512,296.00.P190 31. Paid semiannual interest on bonds payable. $1.200.00.C347 28. Signed a 90-day, 10% note, for $12,000.00 with Northstar National Bank. NP22 and R455 2. Prove and rule the sales journal. Pout the totals of the special columns 28. Received cash for sale of a computer, plant asset No. 284,5300.00, M29 and 1456. Update the 3. Total and rule the purchases journal. Post the total plant asset record and record the sale. 4. Prove the quality of debits and credits for the cash receipts 28. Received cash in full payment of Bakery Depot's and cash payments journals. account previously written off as uncollectible, 5. Prove cash. The balance on the next unused checkstub is $25,001.40 $1,896.00. M30 and R457. 19. Paid $1,000.00 on the outstanding balance of 6. Rule the cash receipts journal. Post the totals of the special columns the Sarr Corp. account.C343. 29. Issued 500 shares of $10.00 par value common 7. Rule the cash payments journal. Post, the total of the stock at $50.00 per share. R458 special columns 29. Issued 300 shares of 5%, 550.00 par value 8. Prepare a schedule of accounts receivable and a schedule preferred stock at par value, 515,000.00 R459. of accounts payable. Prove the accuracy of the subsidiary ledgers by comparing the schedule totals with the balances 7. Rao Deli dishonored NR29, a 60-day, 12% note, for $6,000.00. M31. of the controlling accounts in the general ledger. I the totals are not the same, find and correct the errors. The ledgers and plant asset records used in Reinforcement Activity 3--Part are needed to complete Reinforcement Activity - Part B. An Accounting Cycle for a Corporation: Journalising and Posting Transactions Reinforcement Activity 3-Part A 645