Reymon I. Complete the Accounting Cycle for 0. Reza's Fitness Boutique. Hint: Use Kelly Consulting, the illustration problem, which starts on page 177, as your guide. 1. Analyze and record (journalize) the January transactions in the General Journals. Include the date, account title and the amounts in the debit and credit columns. Use the titles from your chart of accounts. Leave a space between each journal entry. Show calculations as part of your description. Proper technique required throughout. Use as many journal sheets as needed. 2. Post (transfer) the transactions from the journals to the ledgers. 3. Prepare an end of the period worksheet: a. Prepare an unadjusted trial balance on the worksheet b. Prepare the adjusting entries on the worksheet C. Prepare the adjusted trial balance d. Extend the worksheet to prepare the income statement and the balance sheet. e. Prepare the formal financial statements from the worksheet (in the following order): i. Income Statement ii. Statement of Owner's Equity iii. Balance Sheet 4. Journalize the adjusting entries and post to the ledgers 5. Journalize the closing entries and post to the ledgers 6. Prepare the post closing trial balance. Part II: Calculate the Required Ratio Analyses for 0. Reza Fitness Boutique. Part III: Bank Reconciliation A new client, Beeler Furniture Company, has hired you to complete their bank reconciliation. Their information is on page 432 of your textbook, PR 8-5A. Follow the Instructions 1, 2, 3, & 4. Part II: Calculate the Required Ratio Analyses for O. Reza Fitness Boutique, Part III: Bank Reconciliation A new client, Beeler Furniture Company, has hired you to complete their bank reconciliation. Their information is on page 432 of your textbook, PR 8-5A. Follow the instructions 1,2,3,& 4. Your case package can be downloaded from Canvas, Week 5 and includes: 1 & 2. 0. Reza Fitness Boutique Instructions and Narrative and Instructions 3. General Journals 4. General Ledger 5. End-of-the-period Worksheet (May be manual or Excel Spreadsheet) 6. Financial Statement Worksheets Income Statement Statement of Owner's Equity Balance Sheet Post Closing Trial Balance 7. Part II: Calculate the Financial Statement Ratios 7. Part III: Prepare the Bank Reconciliation Background Oneida Reza has been fitness professional for over 20 years. She is a personal trainer, certified by the American College of Sports Medicine (ACSM). She teaches part-time at the community college and is a part-time consultant who designs fitness centers for corporate employee programs. She has written several books and now wants to expand her retail business, O. Reza Fitness Boutique. She has found a perfect location that was previously a physical therapy center. It will be a perfect place for her new center. She plans to sell exercise equipment, apparel and vitamin supplements. Oneida signed a lease on the building on January 1, 20XX and moved in. You have agreed to maintain the books and records for her Boutique. This is your first client and you plan to prepare all of her books and records in accordance with GAAP. You also plan to make them neat and orderly because you know that many clients will come to you because of recommendations from existing clients. Word of mouth is very important in your profession. You have prepared the following chart of accounts. You have set it up so that it will be easy to add new accounts later. O. Reza Fitness Boutique Chart of Accounts Acct. # Name of Account Acct. Name of Account # 100 Assets 300 105 Cash Owner's Equity Oneida Reza, Capital Oneida Reza. Withdrawal Revenue Petty Cash Fund Accounts Receivable Merchandise Inventory Supplies Prepaid Rent Prepaid Insurance Notes Receivable Sales 500 501 510 520 Furniture & Equipment Accumulated Depreciation - Furniture & Equipment Automobiles Accumulated Depreciation Automobiles 530 535 Expenses Cost of Sales Salary & Wages Expense Supplies Expense Rent Expense Utilities Expenses- Depreciation Expense Insurance Expense Automobile Expense Miscellaneous Expense 540 550 575 590 | Liabilities Accounts Payable Wages & Salaries Payable Unearned Revenues Notes Payable 600 610 700 710 Other Income Interest Income Other Expense Interest Expense January, 20XX Transactions (round all amount to nearest dollar): Jan. 1 The following balances were received from Oneida Reza: Cash $300,000; Account Receivable, $6,000 (Lyle Corporation) and: Merchandise Inventory $35,000; Supplies $3,000, Furniture & Equipment, $15,000 (new and unused), Accounts Payable of $5,000 (Abram Office Depot). Journalize the beginning balances and post them to the general ledger Borrowed $50,000 from her father. Jose Reza. Signed a Note Payable, due 2 years from today on Jan. 1. O. Reza pays interest only for two years, at 6%. The first interest payment for Jan is due Feb. 5. Paid six months' rent in advance on a facilities rental contract, $18,000. Paid 6-month premiums on property and casualty insurance policies, 54,800. Purchased merchandise from Garcia Company, Terms 2/10, n/30. $5,000. Purchased a Van from Golden Automotive for $38,000. Paid cash of $5000 and signed an 11-month, no interest note payable for the balance. 1st monthly payment is due on the 5th of next month. Sold merchandise to MayaB Company on account, $1400. Cost of Sales (COS): $700. 3 - $250. 12 14 15 Purchased Office Supplies from Abrams Office Depot for cash, $1,850. 0. Reza decided to establish a petty cash fund for minor expenditures, $200. Received cash from a corporate client, Rolm Co. as an advance payment for a special order of fitness equipment, $8,000. (Hint: Unearned Revenue) Purchased fitness equipment for sale (merchandise) from Doubletree Fitness Equipment with a cost of $25,000; paid cash of $5,000 with the balance on account. Trade discount: 2%; Terms: 1/10, n/30. Delivery Expense, $350, FOB destination. Purchased Computer & Office Furniture from Abrams Office Depot, on account, terms n/EOM, $12,000. Sold merchandise to the Alfred Vaughn Co on account, $800. COS: $300. Returned $5000 (retail value) equipment to Doubletree. Purchased merchandise from Garcia Distributors, $800.1/10, net 30. Sold merchandise to MayaB Company, on account, $900.COS: $450 Wrote check to Comcast for cable TV service in the store lounge, $250. Purchased merchandise from L. Gibson Co., on account $16,000, terms n/10. Paid Garcia Distributors for purchases made on Jan. 2. Paid fitness assistants for two weeks' salary, $3,000. Recorded cash boutique sales for Jan 1-15. Cost of sales, $4,025: Visa Credit Card Sales $5,000 Master Card Sales $3,500 Cash $1,000 Paid balance (less Jan. 8 return) on Doubletree Fitness Equipment Account. Purchase on Jan. 6. . ... Delivered equipment to Rolm C. (Jan. 6) and recorded the sale at $18,000. COS: 58100. Balance on account Accepted a 60-day 6% note dated January 15 in settlement of past due $6,000 Account Receivable from Lyle Corporation. 0. Reza replenished the petty cash fund. The petty cash tickets identified the following expenses: Postage, $23, delivery of package by courier, $17, Gas for the Van, $42, MayaB paid for purchases made on Jan. 3. Received payment from Alfred Vaughn Co. for purchase made on Jan. 6. Paid for Garcia Distributor purchases made on Jan. 8. Paid cash for supplies, $1,200. Paid L. Gibson Co. for merchandise purchased on Jan. 11 Purchased merchandise (vitamin supplements) for cash. $1200. Paid fitness assistants for two weeks' salary, $3,250. 15 15 16 16 17 18 21 25 27 29 Purchased merchandise from Garcia Distributors, $4,200,2/10,n30. 29 Paid AT&T phone and Internet bill for January, $651. Paid PG & electricity bill for January, $1251. O. Reza withdrew $4,500 for personal use. Replenished petty cash fund: Supplies, $52; Miscellaneous, $9; Floor Mats for the Van, $100, Printer Ink Cartridge, $35 30 O. Reza feels that the petty cash fund is not adequate. She increased it to $300. 30 Paid Abrams Company beginning AP amount ($5,000) plus balance due from January 6 purchase. 30 Recorded Boutique sales as follows for Jan 16-30. Cost of sales, $8480: Visa Credit Card Sales $8251 Master Card Sales $7423 Discovery Card $3525 Cash $2001 At the end of January, the following adjustment data is prepared. Analyze and use the following data to make adjustments. (Round all calculations to the nearest whole dollar). a. One month's insurance expired during January (calculation required). b. One month's rent expired during January. (Calculation required) c. Supplies on hand on January 31 are $1100. d. Depreciation entries required: 1. All furniture & equipment is new. It has an estimated useful life of 10 year, with a salvage of $2000. Record depreciation for one month. 2. Automobile (Van) has a useful life of 5 years with a cost of $38,000 and a salvage value $5,000. Record depreciation for one month. e. Record the following accruals: i. Interest expense accrued on loan to Jose Reza. (Jan. 1) 11. Interest income accrued on note receivable from Lyle Corporation (Jan. 15) iii. Accrued fitness assistants salary on January 31 is $550. f. Received gas bill from American Gas for this month's fuel purchases for Van, $650. Due Jan. 5 Part II: Calculate the following ratios and explain what they say to the owner or investor. Ratio of Liabilities to Owner's Equity: Formula Calculations Total Liabilities/Owners Equity 2. Working Capital Formula Current assets - Current liabilities Current Ratio Formula Calculations Current assets/ current liabilities General Journal Page Debit Date Account Title Ref Credit 20XX 1 0. Reza Fitness Boutique General Ledger Account: Cash Account Number: 105 Explanation Ref Debit Credit Balance Date January 2OXX . General Ledger O. Reza Fitness Boutique Account Number 110 Account: Petty Cash Fund Explanation Ref Debit Credit Balance Date lanuary 20XX Account: Accounts Receivable Account Number: 111 Explanation Ref Debit Credit Balance January 20XX General Ledger 0. Reza Fitness Boutique Account: Merchandise Inventory Account Number: 113 Explanation Ref Debit Credit Balance Date January 20XX Account: Supplies Account Number: 114 Explanation Ref Debit Credit January Balance ZOXX General Ledger O. Reza Fitness Boutique Account: Prepaid Rent Date Explanation Account Number: 116 Credit Balance Ref Debit January 20XX Account: Prepaid Insurance Accoun Account Number: 118 Explanation Ref Debit Credit Balance Date January 20xx Account: Notes Receivable Date Explanation Lanuary 20xx Account Number: 120 Debit Credit Balance Ref Account: Furniture & Equipment Account Number: 140 Explanation Ref Debit Credit Balance Date January 20XX 0 Reza Fitness Center General Ledger O. Reza Fitness Boutique Account: Accounts Payable Date Explanation January 20XX Account Number: 201 Credit Balance Ref Debit Account: Wages & Salaries Payable Date Explanation Ref January 20XX Account Number: 205 Credit Balance Debit Account: Unearned Fees Date Explanation January Account Number: 210 Debit Credit Ref Balance 20XX Account Notes Payable Account Number: 214 Explanation Ref Debit Credit Balance Date January 20XX Account: Oneida Reza, Capital Date Explanation Ref January Account Number: 301 Credit Balance Debit 20XX Account: Oneida Reza, Withdrawal Date Explanation Ref. Debit January 20XX Account Number: 302 Credit Balance Account: Sales Date Explanation January 20XX Ref Debit Account Number: 401 Credit Balance Act 1 Account: Cost of Sales Account Number: 501 Explanation Ref Debit Credit Balance Date January 20XX Account: Wages & Salary Expense Account Number: 510 Date Explanation Ref Debit Credit Balance January 20XX Account: Supplies Expense Date Explanation Ref Debit Account Number: 520 Credit Balance 20XX Account: Rent Expense Date Explanation January Ref Debit Account Number: 530 Credit Balance 20XX 0. Reza Fitness Center General Ledger 0. Reza Fitness Boutique Account Number: 535 Credit Balance Ref Debit Account: Utilities Expense Date Explanation January ZOXX LE Account Number: 540 Credit Balance Account: Depreciation Expense Date Explanation RefDebit January 20XX Account: Insurance Expenses Date Explanation Ref Debit Account Number: 550 Credit Balance January Account: Automobile Expense Account Number: 575 Date January Explanation Ref Debit Credit Balance Acct 1A General Ledger O. Reza Fitness Boutique Account Number: 590 Credit Balance Debit Account: Miscellaneous Expense Date Explanation Ref January 20XX Account: Interest Income Date Explanation Account Number: 610 Credit Balance Ref Debit January 20XX Account: Interest Expense Date Explanation January Account Number: 710 Credit Balance 20XX O. Reza Fitness Boutique End of the Period Worksheet January 31, 20xx Adjusted Trial Balance Trial Balance Adjustment Income Statement Balance Sheet 105 Cash 110 Petty Cash Fund 111 Accounts Receivable 113 Merchandise Inventory 114 Supplies 116 Prepaid Rent 118 Prepaid Insurance 120 Notes Receivable 140 Furniture & Equipment 141 Accumulated Depr. - Furn & Equip 145 Automobiles 146 Accumulated Depr. - Automobiles 201 Accounts Payable 205 Wages & Salaries Payable 210 Uneared Revenues 214 Notes Payable 301 Oneida Reza, Capital 302 Oneida Reza, Withdrawi 401 Sales 501 Cost of Sales 510 Salary & Wages Expense 520 Supplies Expense 530 Rent Expense 535 Utilities Expense 540 Depreciation Expense 550 Insurance Expense 575 Automobile Expense 500 Miscellaneous Expense 610 Interest income 710 interest Expense 0 Net Income O. Reza Fitness Boutique Income Statement For the Month Ended January 31, 20XX 0. Reza Boutique Statement of Owner's Equity For the Month Ended January 31, 20XX O. Reza Fitness Boutique Balance Sheet January 30, 20XX Assets Property, Plant & Equipment Liabilities 0. Reza Fitness Boutique Post Closing Trial Balance January 31, 20XX Part III: Bank Reconciliation Problem 8-5A (See Instructions on Page 433 of your textbook; Answer 1,2,3 & 4) Beeler Furniture Company Bank Reconciliation June 30, 1982 Cash Balance According to the Bank Adjusted Balance Cash Balances According to the Company's Books Adjusted Balance Reymon I. Complete the Accounting Cycle for 0. Reza's Fitness Boutique. Hint: Use Kelly Consulting, the illustration problem, which starts on page 177, as your guide. 1. Analyze and record (journalize) the January transactions in the General Journals. Include the date, account title and the amounts in the debit and credit columns. Use the titles from your chart of accounts. Leave a space between each journal entry. Show calculations as part of your description. Proper technique required throughout. Use as many journal sheets as needed. 2. Post (transfer) the transactions from the journals to the ledgers. 3. Prepare an end of the period worksheet: a. Prepare an unadjusted trial balance on the worksheet b. Prepare the adjusting entries on the worksheet C. Prepare the adjusted trial balance d. Extend the worksheet to prepare the income statement and the balance sheet. e. Prepare the formal financial statements from the worksheet (in the following order): i. Income Statement ii. Statement of Owner's Equity iii. Balance Sheet 4. Journalize the adjusting entries and post to the ledgers 5. Journalize the closing entries and post to the ledgers 6. Prepare the post closing trial balance. Part II: Calculate the Required Ratio Analyses for 0. Reza Fitness Boutique. Part III: Bank Reconciliation A new client, Beeler Furniture Company, has hired you to complete their bank reconciliation. Their information is on page 432 of your textbook, PR 8-5A. Follow the Instructions 1, 2, 3, & 4. Part II: Calculate the Required Ratio Analyses for O. Reza Fitness Boutique, Part III: Bank Reconciliation A new client, Beeler Furniture Company, has hired you to complete their bank reconciliation. Their information is on page 432 of your textbook, PR 8-5A. Follow the instructions 1,2,3,& 4. Your case package can be downloaded from Canvas, Week 5 and includes: 1 & 2. 0. Reza Fitness Boutique Instructions and Narrative and Instructions 3. General Journals 4. General Ledger 5. End-of-the-period Worksheet (May be manual or Excel Spreadsheet) 6. Financial Statement Worksheets Income Statement Statement of Owner's Equity Balance Sheet Post Closing Trial Balance 7. Part II: Calculate the Financial Statement Ratios 7. Part III: Prepare the Bank Reconciliation Background Oneida Reza has been fitness professional for over 20 years. She is a personal trainer, certified by the American College of Sports Medicine (ACSM). She teaches part-time at the community college and is a part-time consultant who designs fitness centers for corporate employee programs. She has written several books and now wants to expand her retail business, O. Reza Fitness Boutique. She has found a perfect location that was previously a physical therapy center. It will be a perfect place for her new center. She plans to sell exercise equipment, apparel and vitamin supplements. Oneida signed a lease on the building on January 1, 20XX and moved in. You have agreed to maintain the books and records for her Boutique. This is your first client and you plan to prepare all of her books and records in accordance with GAAP. You also plan to make them neat and orderly because you know that many clients will come to you because of recommendations from existing clients. Word of mouth is very important in your profession. You have prepared the following chart of accounts. You have set it up so that it will be easy to add new accounts later. O. Reza Fitness Boutique Chart of Accounts Acct. # Name of Account Acct. Name of Account # 100 Assets 300 105 Cash Owner's Equity Oneida Reza, Capital Oneida Reza. Withdrawal Revenue Petty Cash Fund Accounts Receivable Merchandise Inventory Supplies Prepaid Rent Prepaid Insurance Notes Receivable Sales 500 501 510 520 Furniture & Equipment Accumulated Depreciation - Furniture & Equipment Automobiles Accumulated Depreciation Automobiles 530 535 Expenses Cost of Sales Salary & Wages Expense Supplies Expense Rent Expense Utilities Expenses- Depreciation Expense Insurance Expense Automobile Expense Miscellaneous Expense 540 550 575 590 | Liabilities Accounts Payable Wages & Salaries Payable Unearned Revenues Notes Payable 600 610 700 710 Other Income Interest Income Other Expense Interest Expense January, 20XX Transactions (round all amount to nearest dollar): Jan. 1 The following balances were received from Oneida Reza: Cash $300,000; Account Receivable, $6,000 (Lyle Corporation) and: Merchandise Inventory $35,000; Supplies $3,000, Furniture & Equipment, $15,000 (new and unused), Accounts Payable of $5,000 (Abram Office Depot). Journalize the beginning balances and post them to the general ledger Borrowed $50,000 from her father. Jose Reza. Signed a Note Payable, due 2 years from today on Jan. 1. O. Reza pays interest only for two years, at 6%. The first interest payment for Jan is due Feb. 5. Paid six months' rent in advance on a facilities rental contract, $18,000. Paid 6-month premiums on property and casualty insurance policies, 54,800. Purchased merchandise from Garcia Company, Terms 2/10, n/30. $5,000. Purchased a Van from Golden Automotive for $38,000. Paid cash of $5000 and signed an 11-month, no interest note payable for the balance. 1st monthly payment is due on the 5th of next month. Sold merchandise to MayaB Company on account, $1400. Cost of Sales (COS): $700. 3 - $250. 12 14 15 Purchased Office Supplies from Abrams Office Depot for cash, $1,850. 0. Reza decided to establish a petty cash fund for minor expenditures, $200. Received cash from a corporate client, Rolm Co. as an advance payment for a special order of fitness equipment, $8,000. (Hint: Unearned Revenue) Purchased fitness equipment for sale (merchandise) from Doubletree Fitness Equipment with a cost of $25,000; paid cash of $5,000 with the balance on account. Trade discount: 2%; Terms: 1/10, n/30. Delivery Expense, $350, FOB destination. Purchased Computer & Office Furniture from Abrams Office Depot, on account, terms n/EOM, $12,000. Sold merchandise to the Alfred Vaughn Co on account, $800. COS: $300. Returned $5000 (retail value) equipment to Doubletree. Purchased merchandise from Garcia Distributors, $800.1/10, net 30. Sold merchandise to MayaB Company, on account, $900.COS: $450 Wrote check to Comcast for cable TV service in the store lounge, $250. Purchased merchandise from L. Gibson Co., on account $16,000, terms n/10. Paid Garcia Distributors for purchases made on Jan. 2. Paid fitness assistants for two weeks' salary, $3,000. Recorded cash boutique sales for Jan 1-15. Cost of sales, $4,025: Visa Credit Card Sales $5,000 Master Card Sales $3,500 Cash $1,000 Paid balance (less Jan. 8 return) on Doubletree Fitness Equipment Account. Purchase on Jan. 6. . ... Delivered equipment to Rolm C. (Jan. 6) and recorded the sale at $18,000. COS: 58100. Balance on account Accepted a 60-day 6% note dated January 15 in settlement of past due $6,000 Account Receivable from Lyle Corporation. 0. Reza replenished the petty cash fund. The petty cash tickets identified the following expenses: Postage, $23, delivery of package by courier, $17, Gas for the Van, $42, MayaB paid for purchases made on Jan. 3. Received payment from Alfred Vaughn Co. for purchase made on Jan. 6. Paid for Garcia Distributor purchases made on Jan. 8. Paid cash for supplies, $1,200. Paid L. Gibson Co. for merchandise purchased on Jan. 11 Purchased merchandise (vitamin supplements) for cash. $1200. Paid fitness assistants for two weeks' salary, $3,250. 15 15 16 16 17 18 21 25 27 29 Purchased merchandise from Garcia Distributors, $4,200,2/10,n30. 29 Paid AT&T phone and Internet bill for January, $651. Paid PG & electricity bill for January, $1251. O. Reza withdrew $4,500 for personal use. Replenished petty cash fund: Supplies, $52; Miscellaneous, $9; Floor Mats for the Van, $100, Printer Ink Cartridge, $35 30 O. Reza feels that the petty cash fund is not adequate. She increased it to $300. 30 Paid Abrams Company beginning AP amount ($5,000) plus balance due from January 6 purchase. 30 Recorded Boutique sales as follows for Jan 16-30. Cost of sales, $8480: Visa Credit Card Sales $8251 Master Card Sales $7423 Discovery Card $3525 Cash $2001 At the end of January, the following adjustment data is prepared. Analyze and use the following data to make adjustments. (Round all calculations to the nearest whole dollar). a. One month's insurance expired during January (calculation required). b. One month's rent expired during January. (Calculation required) c. Supplies on hand on January 31 are $1100. d. Depreciation entries required: 1. All furniture & equipment is new. It has an estimated useful life of 10 year, with a salvage of $2000. Record depreciation for one month. 2. Automobile (Van) has a useful life of 5 years with a cost of $38,000 and a salvage value $5,000. Record depreciation for one month. e. Record the following accruals: i. Interest expense accrued on loan to Jose Reza. (Jan. 1) 11. Interest income accrued on note receivable from Lyle Corporation (Jan. 15) iii. Accrued fitness assistants salary on January 31 is $550. f. Received gas bill from American Gas for this month's fuel purchases for Van, $650. Due Jan. 5 Part II: Calculate the following ratios and explain what they say to the owner or investor. Ratio of Liabilities to Owner's Equity: Formula Calculations Total Liabilities/Owners Equity 2. Working Capital Formula Current assets - Current liabilities Current Ratio Formula Calculations Current assets/ current liabilities General Journal Page Debit Date Account Title Ref Credit 20XX 1 0. Reza Fitness Boutique General Ledger Account: Cash Account Number: 105 Explanation Ref Debit Credit Balance Date January 2OXX . General Ledger O. Reza Fitness Boutique Account Number 110 Account: Petty Cash Fund Explanation Ref Debit Credit Balance Date lanuary 20XX Account: Accounts Receivable Account Number: 111 Explanation Ref Debit Credit Balance January 20XX General Ledger 0. Reza Fitness Boutique Account: Merchandise Inventory Account Number: 113 Explanation Ref Debit Credit Balance Date January 20XX Account: Supplies Account Number: 114 Explanation Ref Debit Credit January Balance ZOXX General Ledger O. Reza Fitness Boutique Account: Prepaid Rent Date Explanation Account Number: 116 Credit Balance Ref Debit January 20XX Account: Prepaid Insurance Accoun Account Number: 118 Explanation Ref Debit Credit Balance Date January 20xx Account: Notes Receivable Date Explanation Lanuary 20xx Account Number: 120 Debit Credit Balance Ref Account: Furniture & Equipment Account Number: 140 Explanation Ref Debit Credit Balance Date January 20XX 0 Reza Fitness Center General Ledger O. Reza Fitness Boutique Account: Accounts Payable Date Explanation January 20XX Account Number: 201 Credit Balance Ref Debit Account: Wages & Salaries Payable Date Explanation Ref January 20XX Account Number: 205 Credit Balance Debit Account: Unearned Fees Date Explanation January Account Number: 210 Debit Credit Ref Balance 20XX Account Notes Payable Account Number: 214 Explanation Ref Debit Credit Balance Date January 20XX Account: Oneida Reza, Capital Date Explanation Ref January Account Number: 301 Credit Balance Debit 20XX Account: Oneida Reza, Withdrawal Date Explanation Ref. Debit January 20XX Account Number: 302 Credit Balance Account: Sales Date Explanation January 20XX Ref Debit Account Number: 401 Credit Balance Act 1 Account: Cost of Sales Account Number: 501 Explanation Ref Debit Credit Balance Date January 20XX Account: Wages & Salary Expense Account Number: 510 Date Explanation Ref Debit Credit Balance January 20XX Account: Supplies Expense Date Explanation Ref Debit Account Number: 520 Credit Balance 20XX Account: Rent Expense Date Explanation January Ref Debit Account Number: 530 Credit Balance 20XX 0. Reza Fitness Center General Ledger 0. Reza Fitness Boutique Account Number: 535 Credit Balance Ref Debit Account: Utilities Expense Date Explanation January ZOXX LE Account Number: 540 Credit Balance Account: Depreciation Expense Date Explanation RefDebit January 20XX Account: Insurance Expenses Date Explanation Ref Debit Account Number: 550 Credit Balance January Account: Automobile Expense Account Number: 575 Date January Explanation Ref Debit Credit Balance Acct 1A General Ledger O. Reza Fitness Boutique Account Number: 590 Credit Balance Debit Account: Miscellaneous Expense Date Explanation Ref January 20XX Account: Interest Income Date Explanation Account Number: 610 Credit Balance Ref Debit January 20XX Account: Interest Expense Date Explanation January Account Number: 710 Credit Balance 20XX O. Reza Fitness Boutique End of the Period Worksheet January 31, 20xx Adjusted Trial Balance Trial Balance Adjustment Income Statement Balance Sheet 105 Cash 110 Petty Cash Fund 111 Accounts Receivable 113 Merchandise Inventory 114 Supplies 116 Prepaid Rent 118 Prepaid Insurance 120 Notes Receivable 140 Furniture & Equipment 141 Accumulated Depr. - Furn & Equip 145 Automobiles 146 Accumulated Depr. - Automobiles 201 Accounts Payable 205 Wages & Salaries Payable 210 Uneared Revenues 214 Notes Payable 301 Oneida Reza, Capital 302 Oneida Reza, Withdrawi 401 Sales 501 Cost of Sales 510 Salary & Wages Expense 520 Supplies Expense 530 Rent Expense 535 Utilities Expense 540 Depreciation Expense 550 Insurance Expense 575 Automobile Expense 500 Miscellaneous Expense 610 Interest income 710 interest Expense 0 Net Income O. Reza Fitness Boutique Income Statement For the Month Ended January 31, 20XX 0. Reza Boutique Statement of Owner's Equity For the Month Ended January 31, 20XX O. Reza Fitness Boutique Balance Sheet January 30, 20XX Assets Property, Plant & Equipment Liabilities 0. Reza Fitness Boutique Post Closing Trial Balance January 31, 20XX Part III: Bank Reconciliation Problem 8-5A (See Instructions on Page 433 of your textbook; Answer 1,2,3 & 4) Beeler Furniture Company Bank Reconciliation June 30, 1982 Cash Balance According to the Bank Adjusted Balance Cash Balances According to the Company's Books Adjusted Balance