see attached documents for instructions to do the assignment December Reports and Schedules Fall 2016 Prepared by You To be Input by the G L Clerk GL Acct 1100 1110 1200 1205 1300 1500 1505 2100 2220 2700 2710 3100 3120 3200 4100 4500 5400 5800 6300 6500 6700 8300 8400 8450 8500 9000 110020 Explanation Cash Operating Account Cash Payroll Accounts Receivable Allowance for Doubtful Accounts Inventory Furniture and Fixtures Accumulated Depreciation Furniture and Fixtures Accounts Payable Current N P to Banks Notes Payable to Banks Other Liabilities Common Stock Additional Paid In Capital Common Stock Retained Earnings Sales Cost of Goods Sold Retail Parts Bank Fees Employee Benefits Rent Expense Salaries and Wages Telephone and Utilities Taxes FUTA Expense FICA Medicare Taxes SUTA Expense Interest Expense Hash Total Debit Credit 372,107 33 10 00 155,000 00 3,100 00 31,000 00 265,500 00 15,500 00 108,000 00 43,660 19 93,516 51 60,000 00 5,000 00 495,000 00 87,459 28 425,000 00 261,500 00 330 00 1,375 00 24,750 00 198,000 00 5,300 00 210 00 12,276 00 2,871 00 990 00 5,016 65 1,336,235 98 1,336,235 98 UTD Bank Student Company A C 5551234 Date of Last Date of This Statement Statement 11 30 2015 12 31 2015 Dallas, TX Account Type Checking Operating Account Balance Forward Total Debits Total Credits Closing Balance 264,430 07 347,669 09 246,000 00 162,760 98 Transactions Date Amount 70,000 00 45,000 00 50,000 00 36,000 00 20,000 00 25,000 00 2 Dec 2 Dec 3 Dec 5 Dec 10 Dec 15 Dec Date 1 Dec 1 Dec 2 Dec 5 Dec 5 Dec 5 Dec 15 Dec 15 Dec 15 Dec 16 Dec 30 Dec 30 Dec 31 Dec Check No 2010 2011 2001 2009 2006 2012 2005 2007 2013 2008 2020 N A N A Amount 108,000 00 74,000 00 2,000 00 2,652 48 273 76 12,660 00 790 00 1,302 00 127,500 00 304 50 3,638 35 14,518 00 30 00 Deposits and Other Credits Deposit Deposit Deposit Deposit Deposit Deposit Payee Vendor 30 Thomas Engineering LLC R Cook Medical Insurance of Kansas TX Dept of Revenue Dallas Insurance Agency IRS IRS Vendor 30 IRS First Bank Transfer to A C 5551235 Bank Charges UTD Bank Student Company A C 5551235 Date of Last Statement 11 30 2015 Dallas, TX Account Type Payroll Checking Date of This Statement 12 31 2015 Balance Forward Total Debits Total Credits Closing Balance 8,264 75 19,400 75 14,518 00 3,382 00 Transactions Date Amount 14,518 00 30 Dec Date 1 Dec 1 Dec 30 Dec 30 Dec 30 Dec Check No 1043 1044 1045 1047 1048 Amount 3,706 50 4,548 25 2,891 25 3,706 50 4,548 25 Deposits and Other Credits Transfer from A C 5551234 Payee Employee 30 Employee 40 Employee 10 Employee 30 Employee 40 Loan Calculator Amortization Table 1 Enter Values Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Loan Summary Scheduled Payments $ 2,251 22 Scheduled Number of Payments 36 Actual Number of Payments 36 Total Early Payments $ Total Interest $ 7,044 04 $74,000 6 00 3 12 12 1 2015 Lender Name Your Company Pmt No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Payment Date Beginning Balance Scheduled Payments 1 1 2016 2 1 2016 3 1 2016 4 1 2016 5 1 2016 6 1 2016 7 1 2016 8 1 2016 9 1 2016 10 1 2016 11 1 2016 12 1 2016 1 1 2017 2 1 2017 3 1 2017 4 1 2017 5 1 2017 6 1 2017 7 1 2017 8 1 2017 9 1 2017 10 1 2017 11 1 2017 12 1 2017 1 1 2018 2 1 2018 3 1 2018 4 1 2018 5 1 2018 6 1 2018 7 1 2018 8 1 2018 9 1 2018 10 1 2018 11 1 2018 12 1 2018 $74,000 00 $ 2,251 22 72,118 78 2,251 22 70,228 15 2,251 22 68,328 06 2,251 22 66,418 48 2,251 22 64,499 35 2,251 22 62,570 62 2,251 22 60,632 25 2,251 22 58,684 19 2,251 22 56,726 39 2,251 22 54,758 80 2,251 22 52,781 37 2,251 22 50,794 05 2,251 22 48,796 80 2,251 22 46,789 56 2,251 22 44,772 28 2,251 22 42,744 92 2,251 22 40,707 42 2,251 22 38,659 74 2,251 22 36,601 81 2,251 22 34,533 60 2,251 22 32,455 04 2,251 22 30,366 09 2,251 22 28,266 70 2,251 22 26,156 81 2,251 22 24,036 37 2,251 22 21,905 33 2,251 22 19,763 63 2,251 22 17,611 23 2,251 22 15,448 06 2,251 22 13,274 08 2,251 22 11,089 23 2,251 22 8,893 45 2,251 22 6,686 69 2,251 22 4,468 90 2,251 22 2,240 02 2,251 22 Extra Pmt $ Total Payment Principal Interest Ending Balance $ 2,251 22 $ 1,881 22 $ 370 00 $ 72,118 78 2,251 22 1,890 63 360 59 70,228 15 2,251 22 1,900 08 351 14 68,328 06 2,251 22 1,909 58 341 64 66,418 48 2,251 22 1,919 13 332 09 64,499 35 2,251 22 1,928 73 322 50 62,570 62 2,251 22 1,938 37 312 85 60,632 25 2,251 22 1,948 06 303 16 58,684 19 2,251 22 1,957 80 293 42 56,726 39 2,251 22 1,967 59 283 63 54,758 80 2,251 22 1,977 43 273 79 52,781 37 2,251 22 1,987 32 263 91 50,794 05 2,251 22 1,997 25 253 97 48,796 80 2,251 22 2,007 24 243 98 46,789 56 2,251 22 2,017 28 233 95 44,772 28 2,251 22 2,027 36 223 86 42,744 92 2,251 22 2,037 50 213 72 40,707 42 2,251 22 2,047 69 203 54 38,659 74 2,251 22 2,057 92 193 30 36,601 81 2,251 22 2,068 21 183 01 34,533 60 2,251 22 2,078 56 172 67 32,455 04 2,251 22 2,088 95 162 28 30,366 09 2,251 22 2,099 39 151 83 28,266 70 2,251 22 2,109 89 141 33 26,156 81 2,251 22 2,120 44 130 78 24,036 37 2,251 22 2,131 04 120 18 21,905 33 2,251 22 2,141 70 109 53 19,763 63 2,251 22 2,152 41 98 82 17,611 23 2,251 22 2,163 17 88 06 15,448 06 2,251 22 2,173 98 77 24 13,274 08 2,251 22 2,184 85 66 37 11,089 23 2,251 22 2,195 78 55 45 8,893 45 2,251 22 2,206 76 44 47 6,686 69 2,251 22 2,217 79 33 43 4,468 90 2,251 22 2,228 88 22 34 2,240 02 2,240 02 2,240 02 11 20 0 00 Loan Calculator Amortization Table 2 Enter Values Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Loan Summary Scheduled Payments $ 3,638 35 Scheduled Number of Payments 60 Actual Number of Payments 60 Total Early Payments Total Interest $ 28,644 72 $200,000 3 50 5 12 3 30 2014 Lender Name UTD BANK Pmt No Payment Date Beginning Balance 1 4 30 2014 $ 200,000 00 2 5 31 2014 196,944 98 3 6 30 2014 193,881 06 4 7 31 2014 190,808 20 5 8 30 2014 187,726 37 6 9 30 2014 184,635 56 7 10 31 2014 181,535 73 8 11 30 2014 178,426 86 9 12 31 2014 175,308 92 Scheduled Payments Extra Pmt 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 Total Payment Principal $ 3,638 35 $ 3,055 02 $ 3,638 35 3,063 93 3,638 35 3,072 86 3,638 35 3,081 83 3,638 35 3,090 81 3,638 35 3,099 83 3,638 35 3,108 87 3,638 35 3,117 94 3,638 35 3,127 03 10 1 30 2015 11 2 28 2015 12 3 31 2015 13 4 30 2015 14 5 31 2015 15 6 30 2015 16 7 31 2015 17 8 30 2015 18 9 30 2015 19 10 31 2015 20 11 30 2015 21 12 31 2015 172,181 89 169,045 74 165,900 44 162,745 97 159,582 29 156,409 39 153,227 24 150,035 80 146,835 06 143,624 98 140,405 53 137,176 70 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,136 15 3,145 30 3,154 47 3,163 67 3,172 90 3,182 15 3,191 44 3,200 74 3,210 08 3,219 44 3,228 83 3,238 25 22 1 30 2016 23 2 28 2016 24 3 31 2016 25 4 30 2016 26 5 31 2016 27 6 30 2016 28 7 31 2016 29 8 30 2016 30 9 30 2016 31 10 31 2016 32 11 30 2016 133,938 45 130,690 76 127,433 59 124,166 92 120,890 72 117,604 97 114,309 64 111,004 69 107,690 11 104,365 86 101,031 91 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,247 70 3,257 17 3,266 67 3,276 20 3,285 75 3,295 33 3,304 95 3,314 59 3,324 25 3,333 95 3,343 67 Interest Ending Balance 583 33 $ 196,944 98 574 42 193,881 06 565 49 190,808 20 556 52 187,726 37 547 54 184,635 56 538 52 181,535 73 529 48 178,426 86 520 41 175,308 92 511 32 172,181 89 4,927 03 502 20 169,045 74 493 05 165,900 44 483 88 162,745 97 474 68 159,582 29 465 45 156,409 39 456 19 153,227 24 446 91 150,035 80 437 60 146,835 06 428 27 143,624 98 418 91 140,405 53 409 52 137,176 70 400 10 133,938 45 5,416 75 390 65 130,690 76 381 18 127,433 59 371 68 124,166 92 362 15 120,890 72 352 60 117,604 97 343 01 114,309 64 333 40 111,004 69 323 76 107,690 11 314 10 104,365 86 304 40 101,031 91 294 68 97,688 23 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 12 31 2016 1 30 2017 2 28 2017 3 31 2017 4 30 2017 5 31 2017 6 30 2017 7 31 2017 8 30 2017 9 30 2017 10 31 2017 11 30 2017 12 31 2017 1 30 2018 2 28 2018 3 31 2018 4 30 2018 5 31 2018 6 30 2018 7 31 2018 8 30 2018 9 30 2018 10 31 2018 11 30 2018 12 31 2018 1 31 2019 2 28 2019 3 31 2018 97,688 23 94,334 81 90,971 60 87,598 59 84,215 73 80,823 02 77,420 40 74,007 86 70,585 37 67,152 89 63,710 41 60,257 88 56,795 28 53,322 59 49,839 76 46,346 78 42,843 61 39,330 22 35,806 58 32,272 67 28,728 45 25,173 89 21,608 97 18,033 64 14,447 89 10,851 68 7,244 99 3,627 77 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,627 77 3,353 42 3,363 21 3,373 02 3,382 85 3,392 72 3,402 62 3,412 54 3,422 49 3,432 48 3,442 49 3,452 53 3,462 60 3,472 70 3,482 82 3,492 98 3,503 17 3,513 39 3,523 64 3,533 91 3,544 22 3,554 56 3,564 93 3,575 32 3,585 75 3,596 21 3,606 70 3,617 22 $3,627 77 284 92 275 14 265 33 255 50 245 63 235 73 225 81 215 86 205 87 195 86 185 82 175 75 165 65 155 52 145 37 135 18 124 96 114 71 104 44 94 13 83 79 73 42 63 03 52 60 42 14 31 65 21 13 10 58 94,334 81 90,971 60 87,598 59 84,215 73 80,823 02 77,420 40 74,007 86 70,585 37 67,152 89 63,710 41 60,257 88 56,795 28 53,322 59 49,839 76 46,346 78 42,843 61 39,330 22 35,806 58 32,272 67 28,728 45 25,173 89 21,608 97 18,033 64 14,447 89 10,851 68 7,244 99 3,627 77 0 00 AIS PROJECT XERO Part II Financial Schedules for Students Fall 2016 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Title AIS Project F16 Chart of Accounts Code 1100 1110 1200 1205 1230 1240 1300 1410 1500 1505 2100 2150 2160 2165 2170 2180 2190 2200 2220 2700 2710 3100 3120 3200 4100 4500 4700 4800 5100 5200 5300 5400 5600 5700 5800 5900 6000 6100 6250 6300 6400 Name Type Cash Operating Bank Cash Payroll Bank Accounts Receivable Accounts Receivable Allowance for Doubtful Accounts Current Asset Interest Receivable Current Asset Notes Receivable Current Asset Inventory Inventory Prepaid Insurance Current Asset Furniture Fixtures Fixed Asset Less Accumulated Depreciation Furniture FixtureFixed Asset Accounts Payable Accounts Payable Federal Withholding Payable Current Liability FICA Payable Current Liability Medicare Payable Current Liability FUTA Payable Current Liability TX state SUTA payable Current Liability Interest Payable Current Liability Federal Income Tax Payable Current Liability Current N P to Bank Current Liability Notes Payable to Bank Non current Liability Other Liabilities Current Liability Common Stock Equity Additional Paid In Capital Equity Retained Earnings Retained Earnings Sales Sales Cost of Goods Sold Direct Costs Shrinkage and Waste Direct Costs Freight and handling Direct Costs Accounting Expense Advertising Expense Bad Debts Expense Bank Service Charges Expense Depreciation Expense Dues Subscriptions Expense Employee Benefits Expense Insurance Expense Legal Expenses Expense Life Insurance Administration Expense Postage Expense Rent Expense Repairs and Maintenance Expense qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx ChartOfAccounts 6500 6600 6700 8000 8300 8400 8450 8500 9000 9100 9200 9992 9993 9994 9997 9999 Salaries Wages Supplies Telephone Utilities Taxes Federal Income Taxes FUTA Expense Taxes FICA Expense Taxes Medicare Expense Taxes SUTA Expense Interest Expense Interest Income Miscellaneous Income Expense Not Used 2 Not used 3 Not Used 4 Not Used 7 Not Used 9 Expense Expense Expense Expense Expense Expense Expense Expense Expense Other Income Expense Unpaid Expense Claims Historical Adjustment Sales Tax Tracking Rounding qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx ChartOfAccounts Trial Balance UTD AIS Fall 2016 As at 1 December 2015 Account Assets 1100 Cash Operating 1110 Cash Payroll 1200 Accounts Receivable 1205 Allowance for Doubtful Accounts 1300 Inventory 1500 Furniture Fixtures 1505 Less Accumulated Depreciation Furniture Fixtures 2100 2220 2700 2710 Debit Credit $372,107 33 $10 00 $155,000 00 $3,100 00 $31,000 00 $265,500 00 $15,500 00 Liabilities Accounts Payable Current N P to Bank Notes Payable to Bank Other Liabilities $108,000 00 $43,660 19 $93,516 51 $60,000 00 Equity 3100 Common Stock 3120 Additional Paid In Capital 3200 Retained Earnings $5,000 00 $495,000 00 $87,459 28 Revenue 4100 Sales $425,000 00 4500 5400 5900 6300 6500 6700 8300 8400 8450 8500 9000 Expenses Cost of Goods Sold Bank Service Charges Insurance Rent Salaries Wages Telephone Utilities Taxes FUTA Expense Taxes FICA Expense Taxes Medicare Expense Taxes SUTA Expense Interest Expense Total $261,500 00 $330 00 $1,375 00 $24,750 00 $198,000 00 $5,300 00 $210 00 $12,276 00 $2,871 00 $990 00 $5,016 65 $1,336,235 98 $1,336,235 98 110120 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Trial Balance As of 12 1 2015 Pre Adjusted Trial Balance UTD AIS Fall 2016 As at 31 December 2015 Account YTD Debit YTD Credit Assets 1100 Cash Operating $153,083 20 1110 Cash Payroll $10 00 1200 Accounts Receivable $162,400 00 1205 Allowance for Doubtful Accounts 1230 Interest Receivable $3,100 00 $ 1240 Notes Receivable $71,748 78 1300 Inventory $82,500 00 1410 Prepaid Insurance $12,660 00 1500 Furniture Fixtures $265,500 00 1505 Less Accumulated Depreciation Furniture Fixtures $15,500 00 Liabilities 2100 Accounts Payable $42,680 00 $ 2190 Interest Payable 2220 Current N P to Bank $43,660 19 2700 Notes Payable to Bank $89,878 16 2710 Other Liabilities $60,000 00 Equity 3100 Common Stock $5,000 00 3120 Additional Paid In Capital $495,000 00 3200 Retained Earnings $87,459 28 Revenue 4100 Sales $563,400 00 9100 Interest Income Expenses 4500 Cost of Goods Sold $337,500 00 4700 Shrinkage Waste 4800 Freight and handling $4,725 00 5100 Accounting $31,000 00 5200 Advertising 5300 Bad Debt Ex $1,500 00 $ 5400 Bank Service Charges 5600 Depreciation $18,000 00 5700 Dues Subscriptions $550 00 5800 Employee Benefits $125 00 5900 Insurance $1,375 00 6000 Legal Expenses 6100 Life Insurance Admin 6300 Rent 6400 Repairs and Maintenance 6500 Salaries Wages 6700 Telephone Utilities $330 00 $7,600 00 $ $27,000 00 $1,500 00 $198,000 00 $5,830 00 8300 Taxes FUTA Expense $1,326 00 8400 Taxes FICA Expense $12,276 00 8450 Taxes Medicare Expense $2,871 00 8500 Taxes SUTA Expense $1,251 00 9000 Interest Expense $5,016 65 Total $1,405,677 63 $1,405,677 63 General Ledger Report UTD AIS Fall 2016 From 1 December 2015 to 31 December 2015 Date Type Transaction Reference 1100 Cash Operating 12 1 2015 Opening balance 12 1 2015 PAY Payment Vendor 30 12 1 2015 PAY Thomas Engineering 12 3 2015 PAY Payment Customer 30 INV 0003 12 5 2015 PAY Payment Dallas Insurance Agen V710 12 5 2015 PAY Payment Customer 40 INV 0004 12 5 2015 PAY Payment Customer 40 INV 0005 12 10 2015 PAY Payment Customer 10 INV 0001 12 15 2015 PAY Payment Customer 20 INV 0002 12 15 2015 PAY Payment Vendor 30 V457 12 15 2015 PAY Payment Vendor 30 V456 12 30 2015 PAY Payment Freight 12 30 2015 PAY Payment Medical Insurance Co oV654 12 30 2015 BT Bank Transfer from Cash OperatDec payroll 12 30 2015 PAY Landlord 12 30 2015 PAY US Treasury 12 30 2015 PAY US Treasury 12 30 2015 PAY UTD Bank 12 30 2015 PAY US Treasury 12 31 2015 PAY Thomas Engineering 12 31 2015 Total 1100 Cash Operating 1110 Cash Payroll 12 1 2015 Opening balance 12 30 2015 BT Bank Transfer from Cash OperatDec payroll 12 30 2015 PAY Employee 10 December Payroll 12 30 2015 PAY Employee 20 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 31 2015 Total 1110 Cash Payroll 1200 Accounts Receivable 12 1 2015 Opening balance 12 2 2015 INV Customer 40 INV 0005 12 3 2015 PAY Payment Customer 30 INV 0003 12 5 2015 INV Customer 30 INV 0006 12 5 2015 PAY Payment Customer 40 INV 0004 12 5 2015 PAY Payment Customer 40 INV 0005 12 10 2015 INV Customer 40 INV 0007 12 10 2015 PAY Payment Customer 10 INV 0001 12 15 2015 PAY Payment Customer 20 INV 0002 12 20 2015 INV Customer 10 INV 0008 12 28 2015 INV Customer 20 INV 0009 12 31 2015 Total 1200 Accounts Receivable 1205 Allowance for Doubtful Accounts 12 1 2015 Opening balance 12 31 2015 Total 1205 Allowance for Doubtful Accounts 1240 Notes Receivable 12 1 2015 Opening balance 12 1 2015 PAY Thomas Engineering Loan 12 31 2015 PAY Thomas Engineering January Note Payment 12 31 2015 Total 1240 Notes Receivable Debit Credit YTD Balance $352,275 35 $372,107 33 $264,107 33 $190,107 33 $240,107 33 $227,447 33 $239,447 33 $263,447 33 $283,447 33 $308,447 33 $255,947 33 $180,947 33 $176,222 33 $175,722 33 $161,204 33 $158,954 33 $157,224 33 $154,992 33 $151,353 98 $150,831 98 $153,083 20 $153,083 20 $2,891 25 $3,372 00 $3,706 50 $4,548 25 $14,518 00 $10 00 $14,528 00 $11,636 75 $8,264 75 $4,558 25 $10 00 $10 00 $108,000 00 $74,000 00 $50,000 00 $12,660 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $14,518 00 $2,250 00 $1,730 00 $2,232 00 $3,638 35 $522 00 $2,251 22 $133,251 22 $14,518 00 $14,518 00 $9,400 00 $24,000 00 $138,400 00 $131,000 00 $155,000 00 $179,000 00 $129,000 00 $177,000 00 $165,000 00 $141,000 00 $174,000 00 $154,000 00 $129,000 00 $138,400 00 $162,400 00 $162,400 00 $0 00 $0 00 $3,100 00 $3,100 00 $2,251 22 $2,251 22 $0 00 $74,000 00 $71,748 78 $71,748 78 $24,000 00 $50,000 00 $48,000 00 $12,000 00 $24,000 00 $33,000 00 $20,000 00 $25,000 00 $74,000 00 $74,000 00 Date Type Transaction 1300 Inventory 12 1 2015 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 12 5 2015 12 6 2015 INV 12 10 2015 12 20 2015 12 28 2015 12 31 2015 Opening balance Vendor 30 Inventory Item Vendor 30 Inventory Item Vendor 30 Inventory Item Vendor 30 Inventory Item Customer 40 Customer 30 Vendor 30 Inventory Item Customer 40 Customer 10 Customer 20 Total 1300 Inventory Reference Debit Credit YTD Balance $18,000 00 $6,000 00 $12,000 00 $76,000 00 $31,000 00 $46,000 00 $61,000 00 $71,000 00 $106,000 00 $94,000 00 $66,000 00 $118,500 00 $100,500 00 $94,500 00 $82,500 00 $82,500 00 $7,680 00 $4,980 00 $12,660 00 $0 00 $0 00 $7,680 00 $12,660 00 $12,660 00 1500 Furniture Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1500 Furniture Fixtures $0 00 $0 00 $265,500 00 $265,500 00 1505 Less Accumulated Depreciation Furniture Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1505 Less Accumulated Depreciation Furniture Fixtu $0 00 $0 00 $15,500 00 $15,500 00 10 20 30 40 V456 V456 V456 V456 $12,000 00 $28,000 00 40 V457 1410 Prepaid Insurance 12 1 2015 Opening balance 12 1 2015 INV Dallas Insurance Agency BusineV710 12 1 2015 INV Dallas Insurance Agency CEO LV710 12 31 2015 Total 1410 Prepaid Insurance 2100 Accounts Payable 12 1 2015 Opening balance 12 1 2015 INV Vendor 20 V123 12 1 2015 INV Dallas Insurance Agency V710 12 1 2015 INV Medical Insurance Co of Texas V654 12 1 2015 PAY Payment Vendor 30 12 2 2015 INV Vendor 30 V456 12 5 2015 PAY Payment Dallas Insurance Agen V710 12 6 2015 INV Vendor 30 V457 12 15 2015 INV Bill's Repair Maint V810 12 15 2015 INV Clark Rotary V907 12 15 2015 INV Texas Phone Utility V654 12 15 2015 PAY Payment Vendor 30 V457 12 15 2015 PAY Payment Vendor 30 V456 12 30 2015 INV R Heinlein's Accounting Service V222 12 30 2015 INV A McCafferty Advertising VA01 12 30 2015 INV H Wells Attorney at Law V723 12 30 2015 INV Freight 12 30 2015 PAY Payment Freight 12 30 2015 PAY Payment Medical Insurance Co oV654 12 31 2015 Total 2100 Accounts Payable 2150 Federal Withholding Payable 12 1 2015 Opening balance 12 30 2015 PAY US Treasury Federal Withholding 12 30 2015 PAY Employee 10 Employee 10 FedDecember Payroll 12 30 2015 PAY Employee 20 Employee 20 FedDecember Payroll 12 30 2015 PAY Employee 30 Empoloyee 30 FeDecember Payroll 12 30 2015 PAY Employee 30 Employee 40 FedDecember Payroll 12 31 2015 Total 2150 Federal Withholding Payable 2160 FICA Payable 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY $15,000 00 $15,000 00 $10,000 00 $35,000 00 Opening balance US Treasury FICA Employee Employee 10 Employee 10 FI December Payroll Employee 20 Employee 20 FI December Payroll $52,500 00 $127,500 00 $188,065 00 $108,000 00 $119,000 00 $131,660 00 $132,160 00 $24,160 00 $99,160 00 $86,500 00 $139,000 00 $140,500 00 $141,050 00 $141,580 00 $89,080 00 $14,080 00 $34,080 00 $35,580 00 $43,180 00 $47,905 00 $43,180 00 $42,680 00 $42,680 00 $236 00 $217 00 $851 00 $426 00 $1,730 00 $0 00 $1,730 00 $1,494 00 $1,277 00 $426 00 $0 00 $0 00 $217 00 $248 00 $0 00 $1,116 00 $899 00 $651 00 $11,000 00 $12,660 00 $500 00 $108,000 00 $75,000 00 $12,660 00 $52,500 00 $1,500 00 $550 00 $530 00 $52,500 00 $75,000 00 $20,000 00 $1,500 00 $7,600 00 $4,725 00 $4,725 00 $500 00 $253,385 00 $1,730 00 $1,730 00 $1,116 00 Date Type Transaction 12 30 2015 12 30 2015 12 31 2015 PAY PAY Reference Employee 30 Employee 30 FI December Payroll Employee 30 Employee 40 FI December Payroll Total 2160 FICA Payable Debit Credit $1,116 00 YTD Balance $310 00 $341 00 $1,116 00 $341 00 $0 00 $0 00 Date Type Transaction Reference 2165 Medicare Payable 12 1 2015 Opening balance 12 30 2015 PAY Employee 10 Employee 10 MeDecember Payroll 12 30 2015 PAY Employee 20 Employee 20 MeDecember Payroll 12 30 2015 PAY Employee 30 Employee 30 MeDecember Payroll 12 30 2015 PAY Employee 30 Employee 40 MeDecember Payroll 12 30 2015 PAY US Treasury Medicare Employee 12 31 2015 Total 2165 Medicare Payable Debit Credit YTD Balance $261 00 $261 00 $261 00 $0 00 $50 75 $108 75 $181 25 $261 00 $0 00 $0 00 $0 00 $0 00 $43,660 19 $43,660 19 $3,638 35 $3,638 35 $0 00 $93,516 51 $89,878 16 $89,878 16 2710 Other Liabilities 12 1 2015 Opening balance 12 31 2015 Total 2710 Other Liabilities $0 00 $0 00 $60,000 00 $60,000 00 3100 Common Stock 12 1 2015 Opening balance 12 31 2015 Total 3100 Common Stock $0 00 $0 00 $5,000 00 $5,000 00 3120 Additional Paid In Capital 12 1 2015 Opening balance 12 31 2015 Total 3120 Additional Paid In Capital $0 00 $0 00 $495,000 00 $495,000 00 3200 Retained Earnings 12 1 2015 Opening balance 12 31 2015 Total 3200 Retained Earnings $0 00 $0 00 $87,459 28 $87,459 28 $0 00 $24,000 00 $48,000 00 $33,000 00 $9,400 00 $24,000 00 $138,400 00 $425,000 00 $449,000 00 $497,000 00 $530,000 00 $539,400 00 $563,400 00 $563,400 00 $0 00 $261,500 00 $273,500 00 $301,500 00 $319,500 00 $325,500 00 $337,500 00 $337,500 00 2220 Current N P to Bank 12 1 2015 Opening balance 12 31 2015 Total 2220 Current N P to Bank 2700 Notes Payable to Bank 12 1 2015 Opening balance 12 30 2015 PAY UTD Bank Loan Payment Dec 12 31 2015 Total 2700 Notes Payable to Bank 4100 Sales 12 1 2015 12 2 2015 12 5 2015 12 10 2015 12 20 2015 12 28 2015 12 31 2015 INV INV INV INV INV Opening balance Customer 40 Inventory Item Customer 30 Inventory Item Customer 40 Inventory Item Customer 10 Inventory Item Customer 20 Inventory Item Total 4100 Sales 30 40 20 10 30 $50 75 $58 00 $72 50 $79 75 INV 0005 INV 0006 INV 0007 INV 0008 INV 0009 4500 Cost of Goods Sold 12 1 2015 Opening balance 12 2 2015 Customer 40 12 5 2015 Customer 30 12 10 2015 Customer 40 12 20 2015 Customer 10 12 28 2015 Customer 20 12 31 2015 Total 4500 Cost of Goods Sold $12,000 00 $28,000 00 $18,000 00 $6,000 00 $12,000 00 $76,000 00 Date Type Transaction Reference 4800 Freight and handling 12 1 2015 Opening balance 12 30 2015 INV Freight Freight 12 31 2015 Total 4800 Freight and handling Debit Credit $4,725 00 $4,725 00 YTD Balance $0 00 $0 00 $4,725 00 $4,725 00 $0 00 $0 00 $11,000 00 $31,000 00 $31,000 00 5100 Accounting 12 1 2015 12 1 2015 INV 12 30 2015 INV 12 31 2015 Opening balance Vendor 20 Fixed Asset V123 R Heinlein's Accounting Service V222 Total 5100 Accounting $11,000 00 $20,000 00 $31,000 00 5200 Advertising 12 1 2015 12 30 2015 INV 12 31 2015 Opening balance A McCafferty Advertising Ad DesVA01 Total 5200 Advertising $1,500 00 $1,500 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $0 00 $330 00 $330 00 $0 00 $0 00 $3,500 00 $7,500 00 $12,500 00 $18,000 00 $18,000 00 $0 00 $0 00 $550 00 $550 00 5400 Bank Service Charges 12 1 2015 Opening balance 12 31 2015 Total 5400 Bank Service Charges 5600 Depreciation 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance Employee 10 Employee 10 Gr December Payroll Employee 20 Employee 20 Gr December Payroll Employee 30 Employee 30 Gr December Payroll Employee 30 Employee 40 Gr December Payroll Total 5600 Depreciation 5700 Dues Subscriptions 12 1 2015 Opening balance 12 15 2015 INV Clark Rotary Dues December V907 12 31 2015 Total 5700 Dues Subscriptions 5800 Employee Benefits 12 1 2015 Opening balance 12 1 2015 INV Medical Insurance Co of Texas V654 12 30 2015 PAY Employee 10 Employee 10 Hea December Payroll 12 30 2015 PAY Employee 20 Employee 20 Hea December Payroll 12 30 2015 PAY Employee 30 Employee 30 Hea December Payroll 12 30 2015 PAY Employee 30 Employee 40 Hea December Payroll 12 30 2015 to correct improper account 12 31 2015 Total 5800 Employee Benefits 5900 Insurance 12 1 2015 12 30 2015 12 31 2015 Opening balance to correct improper account Total 5900 Insurance $3,500 00 $4,000 00 $5,000 00 $5,500 00 $18,000 00 $550 00 $550 00 $1,375 00 $1,875 00 $375 00 $0 00 $500 00 $395 00 $290 00 $230 00 $125 00 $1,500 00 $1,500 00 $0 00 $1,375 00 $0 00 $1,375 00 $0 00 $0 00 $0 00 $0 00 $7,600 00 $7,600 00 $0 00 $24,750 00 $27,000 00 $27,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $500 00 $105 00 $105 00 $60 00 $105 00 6000 Legal Expenses 12 1 2015 Opening balance 12 30 2015 INV H Wells Attorney at Law ComforV723 12 31 2015 Total 6000 Legal Expenses $7,600 00 $7,600 00 6300 Rent 12 1 2015 12 30 2015 12 31 2015 Opening balance Landlord Rent Total 6300 Rent $2,250 00 $2,250 00 6400 Repairs and Maintenance 12 1 2015 Opening balance 12 15 2015 INV Bill's Repair Maint Maintenan V810 12 31 2015 Total 6400 Repairs and Maintenance $1,500 00 $1,500 00 PAY 6500 Salaries Wages 12 1 2015 Opening balance $198,000 00 Date 12 31 2015 Type Transaction Reference Total 6500 Salaries Wages 6700 Telephone Utilities 12 1 2015 Opening balance 12 15 2015 INV Texas Phone Utility Dec PhonV654 12 31 2015 Total 6700 Telephone Utilities Debit Credit $0 00 $530 00 $530 00 YTD Balance $0 00 $198,000 00 $0 00 $5,300 00 $5,830 00 $5,830 00 8300 Taxes FUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury FICA Employer 12 31 2015 Total 8300 Taxes FUTA Expense $1,116 00 $1,116 00 $0 00 $210 00 $1,326 00 $1,326 00 8400 Taxes FICA Expense 12 1 2015 Opening balance 12 31 2015 Total 8400 Taxes FICA Expense $0 00 $0 00 $12,276 00 $12,276 00 8450 Taxes Medicare Expense 12 1 2015 Opening balance 12 31 2015 Total 8450 Taxes Medicare Expense $0 00 $0 00 $2,871 00 $2,871 00 $261 00 $261 00 $0 00 $990 00 $1,251 00 $1,251 00 $0 00 $0 00 $5,016 65 $5,016 65 8500 Taxes SUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury Medicare Employer 12 31 2015 Total 8500 Taxes SUTA Expense 9000 Interest Expense 12 1 2015 Opening balance 12 31 2015 Total 9000 Interest Expense General Ledger Report UTD AIS Fall 2016 From 1 December 2015 to 31 December 2015 Date Type Transaction Reference 1100 Cash Operating 12 1 2015 Opening balance 12 1 2015 PAY Payment Vendor 30 12 1 2015 PAY Thomas Engineering 12 3 2015 PAY Payment Customer 30 INV 0003 12 5 2015 PAY Payment Dallas Insurance AgencV710 12 5 2015 PAY Payment Customer 40 INV 0004 12 5 2015 PAY Payment Customer 40 INV 0005 12 10 2015 PAY Payment Customer 10 INV 0001 12 15 2015 PAY Payment Customer 20 INV 0002 12 15 2015 PAY Payment Vendor 30 V457 12 15 2015 PAY Payment Vendor 30 V456 12 30 2015 PAY Payment Freight 12 30 2015 PAY Payment Medical Insurance Co oV654 12 30 2015 BT Bank Transfer from Cash OperatDec payroll 12 30 2015 PAY Landlord 12 30 2015 PAY US Treasury 12 30 2015 PAY US Treasury 12 30 2015 PAY UTD Bank 12 30 2015 PAY US Treasury 12 31 2015 PAY Thomas Engineering 12 31 2015 Total 1100 Cash Operating 1110 Cash Payroll 12 1 2015 Opening balance 12 30 2015 BT Bank Transfer from Cash OperatDec payroll 12 30 2015 PAY Employee 10 December Payroll 12 30 2015 PAY Employee 20 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 31 2015 Total 1110 Cash Payroll 1200 Accounts Receivable 12 1 2015 Opening balance 12 2 2015 INV Customer 40 INV 0005 12 3 2015 PAY Payment Customer 30 INV 0003 12 5 2015 INV Customer 30 INV 0006 12 5 2015 PAY Payment Customer 40 INV 0004 12 5 2015 PAY Payment Customer 40 INV 0005 12 10 2015 INV Customer 40 INV 0007 12 10 2015 PAY Payment Customer 10 INV 0001 12 15 2015 PAY Payment Customer 20 INV 0002 12 20 2015 INV Customer 10 INV 0008 12 28 2015 INV Customer 20 INV 0009 12 31 2015 Total 1200 Accounts Receivable 1205 Allowance for Doubtful Accounts 12 1 2015 Opening balance 12 31 2015 Total 1205 Allowance for Doubtful Accounts Debit $50,000 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $2,251 22 $133,251 22 $14,518 00 $14,518 00 $24,000 00 $48,000 00 $33,000 00 $9,400 00 $24,000 00 $138,400 00 $0 00 1240 Notes Receivable 12 1 2015 Opening balance 12 1 2015 PAY Thomas Engineering Loan 12 31 2015 PAY Thomas Engineering January Note Payment 12 31 2015 Total 1240 Notes Receivable 1300 Inventory 12 1 2015 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 12 5 2015 12 6 2015 INV 12 10 2015 12 20 2015 12 28 2015 12 31 2015 Opening balance Vendor 30 Inventory Item 10 Vendor 30 Inventory Item 20 Vendor 30 Inventory Item 30 Vendor 30 Inventory Item 40 Customer 40 Customer 30 Vendor 30 Inventory Item 40 Customer 40 Customer 10 Customer 20 Total 1300 Inventory $74,000 00 $74,000 00 V456 V456 V456 V456 $15,000 00 $15,000 00 $10,000 00 $35,000 00 V457 $52,500 00 1410 Prepaid Insurance 12 1 2015 Opening balance 12 1 2015 INV Dallas Insurance Agency BusineV710 12 1 2015 INV Dallas Insurance Agency CEO LV710 12 31 2015 Total 1410 Prepaid Insurance $127,500 00 $7,680 00 $4,980 00 $12,660 00 1500 Furniture Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1500 Furniture Fixtures $0 00 1505 Less Accumulated Depreciation Furniture Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1505 Less Accumulated Depreciation Furniture Fixtu $0 00 2100 Accounts Payable 12 1 2015 Opening balance 12 1 2015 INV Vendor 20 V123 12 1 2015 INV Dallas Insurance Agency V710 12 1 2015 INV Medical Insurance Co of Texas V654 12 1 2015 PAY Payment Vendor 30 12 2 2015 INV Vendor 30 V456 12 5 2015 PAY Payment Dallas Insurance AgencV710 12 6 2015 INV Vendor 30 V457 12 15 2015 INV Bill's Repair Maint V810 12 15 2015 INV Clark Rotary V907 12 15 2015 INV Texas Phone Utility V654 12 15 2015 PAY Payment Vendor 30 V457 12 15 2015 PAY Payment Vendor 30 V456 12 30 2015 INV R Heinlein's Accounting Service V222 12 30 2015 INV A McCafferty Advertising VA01 12 30 2015 INV H Wells Attorney at Law V723 12 30 2015 INV Freight 12 30 2015 PAY Payment Freight 12 30 2015 PAY Payment Medical Insurance Co oV654 12 31 2015 Total 2100 Accounts Payable 2150 Federal Withholding Payable $108,000 00 $12,660 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $253,385 00 12 1 2015 12 30 2015 12 30 2015 12 30 2015 12 30 2015 12 30 2015 12 31 2015 PAY PAY PAY PAY PAY 2160 FICA Payable 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance US Treasury Federal Withholding Employee 10 Employee 10 FedDecember Payroll Employee 20 Employee 20 FedDecember Payroll Employee 30 Empoloyee 30 FeDecember Payroll Employee 30 Employee 40 FedDecember Payroll Total 2150 Federal Withholding Payable Opening balance US Treasury FICA Employee Employee 10 Employee 10 FI Employee 20 Employee 20 FI Employee 30 Employee 30 FI Employee 30 Employee 40 FI Total 2160 FICA Payable $1,730 00 $1,730 00 $1,116 00 December Payroll December Payroll December Payroll December Payroll $1,116 00 2165 Medicare Payable 12 1 2015 Opening balance 12 30 2015 PAY Employee 10 Employee 10 MeDecember Payroll 12 30 2015 PAY Employee 20 Employee 20 MeDecember Payroll 12 30 2015 PAY Employee 30 Employee 30 MeDecember Payroll 12 30 2015 PAY Employee 30 Employee 40 MeDecember Payroll 12 30 2015 PAY US Treasury Medicare Employee 12 31 2015 Total 2165 Medicare Payable 2220 Current N P to Bank 12 1 2015 Opening balance 12 31 2015 Total 2220 Current N P to Bank 2700 Notes Payable to Bank 12 1 2015 Opening balance 12 30 2015 PAY UTD Bank Loan Payment Dec 12 31 2015 Total 2700 Notes Payable to Bank $261 00 $261 00 $0 00 $3,638 35 $3,638 35 2710 Other Liabilities 12 1 2015 Opening balance 12 31 2015 Total 2710 Other Liabilities $0 00 3100 Common Stock 12 1 2015 Opening balance 12 31 2015 Total 3100 Common Stock $0 00 3120 Additional Paid In Capital 12 1 2015 Opening balance 12 31 2015 Total 3120 Additional Paid In Capital $0 00 3200 Retained Earnings 12 1 2015 Opening balance 12 31 2015 Total 3200 Retained Earnings $0 00 4100 Sales 12 1 2015 12 2 2015 12 5 2015 12 10 2015 12 20 2015 INV INV INV INV Opening balance Customer 40 Inventory Item 30 Customer 30 Inventory Item 40 Customer 40 Inventory Item 20 Customer 10 Inventory Item 10 INV 0005 INV 0006 INV 0007 INV 0008 12 28 2015 12 31 2015 INV Customer 20 Inventory Item 30 INV 0009 Total 4100 Sales $0 00 4500 Cost of Goods Sold 12 1 2015 Opening balance 12 2 2015 Customer 40 12 5 2015 Customer 30 12 10 2015 Customer 40 12 20 2015 Customer 10 12 28 2015 Customer 20 12 31 2015 Total 4500 Cost of Goods Sold $12,000 00 $28,000 00 $18,000 00 $6,000 00 $12,000 00 $76,000 00 4800 Freight and handling 12 1 2015 Opening balance 12 30 2015 INV Freight Freight 12 31 2015 Total 4800 Freight and handling $4,725 00 $4,725 00 5100 Accounting 12 1 2015 12 1 2015 INV 12 30 2015 INV 12 31 2015 Opening balance Vendor 20 Fixed Asset V123 R Heinlein's Accounting Service V222 Total 5100 Accounting $11,000 00 $20,000 00 $31,000 00 5200 Advertising 12 1 2015 12 30 2015 INV 12 31 2015 Opening balance A McCafferty Advertising Ad DesVA01 Total 5200 Advertising $1,500 00 $1,500 00 5400 Bank Service Charges 12 1 2015 Opening balance 12 31 2015 Total 5400 Bank Service Charges 5600 Depreciation 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance Employee 10 Employee 10 Gr December Payroll Employee 20 Employee 20 Gr December Payroll Employee 30 Employee 30 Gr December Payroll Employee 30 Employee 40 Gr December Payroll Total 5600 Depreciation 5700 Dues Subscriptions 12 1 2015 Opening balance 12 15 2015 INV Clark Rotary Dues December V907 12 31 2015 Total 5700 Dues Subscriptions 5800 Employee Benefits 12 1 2015 Opening balance 12 1 2015 INV Medical Insurance Co of Texas V654 12 30 2015 PAY Employee 10 Employee 10 Hea December Payroll 12 30 2015 PAY Employee 20 Employee 20 Hea December Payroll 12 30 2015 PAY Employee 30 Employee 30 Hea December Payroll 12 30 2015 PAY Employee 30 Employee 40 Hea December Payroll 12 31 2015 Total 5800 Employee Benefits 5900 Insurance 12 1 2015 12 31 2015 Opening balance Total 5900 Insurance $0 00 $3,500 00 $4,000 00 $5,000 00 $5,500 00 $18,000 00 $550 00 $550 00 $500 00 $500 00 $0 00 6000 Legal Expenses 12 1 2015 Opening balance 12 30 2015 INV H Wells Attorney at Law ComfortV723 12 31 2015 Total 6000 Legal Expenses $7,600 00 $7,600 00 6300 Rent 12 1 2015 12 30 2015 12 31 2015 Opening balance Landlord Rent Total 6300 Rent $2,250 00 $2,250 00 6400 Repairs and Maintenance 12 1 2015 Opening balance 12 15 2015 INV Bill's Repair Maint Maintenan V810 12 31 2015 Total 6400 Repairs and Maintenance $1,500 00 $1,500 00 PAY 6500 Salaries Wages 12 1 2015 Opening balance 12 31 2015 Total 6500 Salaries Wages 6700 Telephone Utilities 12 1 2015 Opening balance 12 15 2015 INV Texas Phone Utility Dec PhonV654 12 31 2015 Total 6700 Telephone Utilities $0 00 $530 00 $530 00 8300 Taxes FUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury FICA Employer 12 31 2015 Total 8300 Taxes FUTA Expense $1,116 00 $1,116 00 8400 Taxes FICA Expense 12 1 2015 Opening balance 12 31 2015 Total 8400 Taxes FICA Expense $0 00 8450 Taxes Medicare Expense 12 1 2015 Opening balance 12 31 2015 Total 8450 Taxes Medicare Expense $0 00 8500 Taxes SUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury Medicare Employer 12 31 2015 Total 8500 Taxes SUTA Expense 9000 Interest Expense 12 1 2015 Opening balance 12 31 2015 Total 9000 Interest Expense $261 00 $261 00 $0 00 2015 Credit YTD Balance $352,275 35 $372,107 33 $264,107 33 $190,107 33 $240,107 33 $227,447 33 $239,447 33 $263,447 33 $283,447 33 $308,447 33 $255,947 33 $180,947 33 $176,222 33 $175,722 33 $161,204 33 $158,954 33 $157,224 33 $154,992 33 $151,353 98 $150,831 98 $153,083 20 $153,083 20 $2,891 25 $3,372 00 $3,706 50 $4,548 25 $14,518 00 $10 00 $14,528 00 $11,636 75 $8,264 75 $4,558 25 $10 00 $10 00 $108,000 00 $74,000 00 $12,660 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $14,518 00 $2,250 00 $1,730 00 $2,232 00 $3,638 35 $522 00 $131,000 00 $155,000 00 $179,000 00 $129,000 00 $177,000 00 $165,000 00 $141,000 00 $174,000 00 $154,000 00 $129,000 00 $138,400 00 $162,400 00 $162,400 00 $0 00 $3,100 00 $3,100 00 $50,000 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $2,251 22 $2,251 22 $0 00 $74,000 00 $71,748 78 $71,748 78 $18,000 00 $6,000 00 $12,000 00 $76,000 00 $31,000 00 $46,000 00 $61,000 00 $71,000 00 $106,000 00 $94,000 00 $66,000 00 $118,500 00 $100,500 00 $94,500 00 $82,500 00 $82,500 00 $0 00 $0 00 $7,680 00 $12,660 00 $12,660 00 $0 00 $265,500 00 $265,500 00 $0 00 $15,500 00 $15,500 00 $12,000 00 $28,000 00 $11,000 00 $12,660 00 $500 00 $75,000 00 $52,500 00 $1,500 00 $550 00 $530 00 $20,000 00 $1,500 00 $7,600 00 $4,725 00 $188,065 00 $108,000 00 $119,000 00 $131,660 00 $132,160 00 $24,160 00 $99,160 00 $86,500 00 $139,000 00 $140,500 00 $141,050 00 $141,580 00 $89,080 00 $14,080 00 $34,080 00 $35,580 00 $43,180 00 $47,905 00 $43,180 00 $42,680 00 $42,680 00 $236 00 $217 00 $851 00 $426 00 $1,730 00 $0 00 $1,730 00 $1,494 00 $1,277 00 $426 00 $0 00 $0 00 $217 00 $248 00 $310 00 $341 00 $1,116 00 $0 00 $1,116 00 $899 00 $651 00 $341 00 $0 00 $0 00 $261 00 $0 00 $50 75 $108 75 $181 25 $261 00 $0 00 $0 00 $0 00 $43,660 19 $43,660 19 $0 00 $93,516 51 $89,878 16 $89,878 16 $0 00 $60,000 00 $60,000 00 $0 00 $5,000 00 $5,000 00 $0 00 $495,000 00 $495,000 00 $0 00 $87,459 28 $87,459 28 $24,000 00 $48,000 00 $33,000 00 $9,400 00 $425,000 00 $449,000 00 $497,000 00 $530,000 00 $539,400 00 $50 75 $58 00 $72 50 $79 75 $24,000 00 $138,400 00 $563,400 00 $563,400 00 $0 00 $261,500 00 $273,500 00 $301,500 00 $319,500 00 $325,500 00 $337,500 00 $337,500 00 $0 00 $0 00 $4,725 00 $4,725 00 $0 00 $0 00 $11,000 00 $31,000 00 $31,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $330 00 $330 00 $0 00 $0 00 $3,500 00 $7,500 00 $12,500 00 $18,000 00 $18,000 00 $0 00 $0 00 $550 00 $550 00 $105 00 $105 00 $60 00 $105 00 $375 00 $0 00 $500 00 $395 00 $290 00 $230 00 $125 00 $125 00 $0 00 $1,375 00 $1,375 00 $0 00 $0 00 $7,600 00 $7,600 00 $0 00 $24,750 00 $27,000 00 $27,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $198,000 00 $198,000 00 $0 00 $5,300 00 $5,830 00 $5,830 00 $0 00 $210 00 $1,326 00 $1,326 00 $0 00 $12,276 00 $12,276 00 $0 00 $2,871 00 $2,871 00 $0 00 $990 00 $1,251 00 $1,251 00 $0 00 $5,016 65 $5,016 65 UTD AIS Fall 2016 General Journal Corrections Adjustments Date Explanation GJ1 12 30 5800 Employee Benefits 5900 Insurance Explanation to correct the improper account Posted Ref GL Acct qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx General Journal x x ments Debit Credit 1375 1375 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx General Journal Fixed Asset Subsidiary Ledger Fixed Assets Furnitures and Fixtures Account 1500 Item 10 Purchase Date Disposal Date Vendor Dec 12 F10 March 1, 2014 n a Vendor 20 1 Balance Forward 30 Depreciation Method Salvage Value Ref Debit November 2, 2014 n a Vendor 20 1 Balance Forward 30 Depreciation Method Salvage Value Ref Debit Straight Line Annual Depreciation $ 18,000 00 $ 20,000 00 Useful Life 10 Years Credit Debit Balance Credit Balance 200,000 00 GJ Item 20 Purchase Date Disposal Date Vendor Dec 12 Debit GJ Credit Balance 15,000 00 33,000 00 Accumulated Depreciation Credit Debit Balance 500 00 3,000 00 Credit Balance 500 00 3,500 00 Accumulated Depreciation Credit Debit Balance Credit Balance F30 October 1, 2015 n a Vendor 20 1 Balance Forward 30 Depreciation Method Salvage Value Ref Debit December 2, 2015 n a Vendor 20 1 Balance Forward 30 30 Depreciation Method Salvage Value Ref Debit Straight Line Annual Depreciation $ 4,500 00 $ 5,000 00 Useful Life 10 Years Credit Debit Balance Credit Balance 50,000 00 Debit GJ 1,125 00 Item 40 Purchase Date Disposal Date Vendor Dec 12 12 Accumulated Depreciation Credit Debit Balance 15,000 00 18,000 00 F20 Straight Line Annual Depreciation $ 3,000 00 $ 500 00 Useful Life 5 Years Credit Debit Balance Credit Balance 15,500 00 Item 30 Purchase Date Disposal Date Vendor Dec 12 Debit 1,125 00 F40 PJ GJ Straight Line Annual Depreciation $ 200 00 Useful Life Credit Debit Balance 11,000 00 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Fixed Assets Subs Ledger $ 2,700 00 4 Years Credit Balance Debit Accumulated Depreciation Credit Debit Balance Credit Balance 11,000 00 225 00 225 00 Sales Journal DEBIT Date 12 12 12 12 12 Description 2 Customer 40 5 Customer 30 10 Customer 40 20 Customer 10 28 Customer 20 Invoice A R Credit Memo Subsidiary Acct 1201 1202 1203 1204 1205 C40 C30 C40 C10 C20 Posted Ref CREDIT Accounts Receivable 1200 24,000 00 48,000 00 33,000 00 9,400 00 24,000 00 COGS 4500 12,000 00 28,000 00 18,000 00 6,000 00 12,000 00 138,400 00 76,000 00 Total qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Sales Journal Inventory Subsidiary Acct Posted Ref I30 I40 I20 I10 I30 Inventory 1300 12,000 00 28,000 00 18,000 00 6,000 00 12,000 00 Sales 4100 24,000 00 48,000 00 33,000 00 9,400 00 24,000 00 76,000 00 138,400 00 Inventory Purchases Journal DEBIT Date 12 12 Vendor 3 6 Vendor 30 10 Units Item 10 10 Units Item 20 5 Units Item 30 10 Units item 40 Vendor 30 15 Units Item 40 Total Vendor Invoice Inventory 1300 CREDIT ACCOUNTS PAYABLE 2100 Posted Ref A P Subs Acct Amount Posted Ref V456 75,000 00 V30 75,000 00 V457 52,500 00 V30 52,500 00 127,500 00 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Inventory Purchases Journal 127,500 00 NOVEMBER REPORTS and SCHEDULES Fall 2016 Student Company Bank Reconciliation November 2015 Bank Statement UTD Bank Cash Operating A C 5551234 Unadjusted Bank Balance, 11 30 15 264,430 07 Add Deposits in Transit General Ledger 372,137 33 70,000 00 45,000 00 115,000 00 Deduct Outstanding Checks Check 2001 2005 2006 2007 2008 2009 $ $ $ $ $ $ Amount 2,000 00 790 00 273 76 1,302 00 304 50 2,652 48 $ (7,322 74) Adjustments Bank Service Fee Adjusted Balance, 11 30 15 November Reports Schedules F16 Operating Bank Rec Nov (30 00) $ 372,107 33 $ 372,107 33 $ Student Company Bank Reconciliation November 2015 Bank Statement UTD Bank Payroll A C 5551235 Unadjusted Bank Balance, 11 30 15 General Ledger 8,264 75 Add Deposits in Transit 10 00 Deduct Outstanding Checks Check 1043 1044 $ $ Amount 3,706 50 4,548 25 $ (8,254 75) Adjustments Adjusted Balance, 11 30 15 November Reports Schedules F16 Payroll Bank Rec Nov $ 10 00 $ 10 00 Student Company Accounts Receivable Aging Report November 30, 2015 Customer Customer 10 Customer 20 Customer 30 Customer 40 Total $ $ $ $ $ Total Due 48,000 00 45,000 00 50,000 00 12,000 00 155,000 00 0 30 Days $ $ $ $ 31 60 Days $ 48,000 00 45,000 00 50,000 00 12,000 00 107,000 00 $ November Reports Schedules F16 AR Aging Rept Nov 48,000 00 $ 61 90 Days 90Days $ Student Company Inventory Reconciliation Report November 30, 2015 Item Item 10 Item 20 Item 30 Item 40 Quantity Total 4 5 7 1 17 $ $ $ $ Cost 1,500 00 1,500 00 2,000 00 3,500 00 November Reports Schedules F16 Inventory Recon Report Nov $ $ $ $ $ Total 6,000 00 7,500 00 14,000 00 3,500 00 31,000 00 Student Company Fixed Asset Report November 30, 2015 Item Item 10 Item 20 Item 30 Total $ Accumulated Depreciation Net Book Value Cost 200,000 00 $ 15,000 00 $ 185,000 00 15,500 00 500 00 15,000 00 50,000 00 50,000 00 $ 265,500 00 $ 15,500 00 $ 250,000 00 General Ledger Balance A C 1500 Fixed Assets General Ledger Balance A C 1505 Accumulated Depreciation Subsidiary Ledger Agrees w General Ledger Accumulated Depreciation Year to Date Accumulated Depreciation Beginning of Year Difference Depreciation Expense for Year $ 265,500 00 $ 15,500 00 $ 15,500 00 $ 15,500 00 $ Note Agree to account 5600 November Reports Schedules F16 Fixed Asset Report Nov Student Company Accounts Payable Aging Report November 30, 2015 Account Vendor 30 Total Due 0 30 Days $ 108,000 00 $ 108,000 00 Total $ 108,000 00 $ 108,000 00 $ November Reports Schedules F16 AP Recon Report Nov 31 60 Days 61 90 Days $ 90Days $ Payroll Taxes Student Company Payroll Summary Date From 1 1 2015 Date To 12 31 2015 Description Gross Wages Federal Wages Federal Taxes Withheld FICA Soc Sec Wages FICA Soc Sec Withheld FICA Medicare Wages FICA Medicare Withheld Net Wages Total 216,000 00 216,000 00 20,760 00 216,000 00 13,392 00 204,000 00 3,132 00 174,216 00 Student Company FUTA Summary Date From 1 1 2015 Date To 12 31 2015 SS 123 34 4567 575 52 7897 575 25 6666 575 12 5555 Employee Employee 10 Employee 20 Employee 30 Employee 40 YTD Wages Taxable Wages 42,000 00 7,000 00 48,000 00 7,000 00 60,000 00 7,000 00 66,000 00 7,000 00 $ 216,000 00 $ 28,000 00 4 Employee(s) Listed Maximum Taxable Wages Employee FUTA Tax Rate FUTA Tax Due $ 0 75000 28,000 210 00 $ 7,000 00 Student Company SUTA Summary State of Texas Date From 1 1 2015 Date To 12 31 2015 SS 123 34 4567 575 52 7897 575 25 6666 575 12 5555 Employee Employee 10 Employee 20 Employee 30 Employee 40 YTD Wages Taxable Wages 42,000 00 9,000 00 48,000 00 9,000 00 60,000 00 9,000 00 66,000 00 9,000 00 $ 216,000 00 $ 36,000 00 4 Employee(s) Listed Maximum Taxable Wages Employee SUTA Tax Rate SUTA Tax Due $ 2 75000 36,000 990 00 $ 9,000 00 XERO PART II ACCOUNTING SYSTEMS ANALYSIS DESIGN Fall 2016 UNDERSTANDING ACCOUNTING PROCESS ACCOUTANT'S ROLE IN ACCOUNTING SYSTEMS STUDENT INSTRUCTIONS In this exercise, You are the chief accountant working for a firm in its second year of operation Your firm operated for only a partial year in 2014 In 2015, you anticipate a loss, although in 2016 you will be able to turn a profit because you raised prices during 2015 On December 1, 2015 you went live with a new accounting system, Xero You have a new clerk working for you who is prone to making mistakes and doesn't know how to fix them Your job is to do your normal month end accounting duties, get the data into the new accounting system with the clerk's assistance, and find and fix the errors made by the clerk (Depending on the size of the firm, in practice you might prepare the tax reports in addition to the tasks below but for this exercise, these are provided for you ) The clerk will be assisting you by doing normal bookkeeping and clerical work, leaving you to do the accounting tasks Keep in mind that you are human and you make mistakes as well Some of the mistakes you will find and fix may well be your own (i e , the accountant's ) It is December 2015, the 12th month of your fiscal year Last month you did your normal duties and reconciled the General Ledger (G L) All subsidiary ledgers correctly tied to the general ledger, all the bank accounts reconciled, and all tax reports agreed with your G L At November 30, 2015 you had a clean set of books Any errors you may find are in December For help with technical terms, you should check with the Controller

Question

see attached documents for instructions to do the assignment December Reports and Schedules Fall 2016 Prepared by  You To be Input by the G L Clerk GL Acct  1100 1110 1200 1205 1300 1500 1505 2100 2220 2700 2710 3100 3120 3200 4100 4500 5400 5800 6300 6500 6700 8300 8400 8450 8500 9000 110020 Explanation Cash  Operating Account Cash  Payroll Accounts Receivable Allowance for Doubtful Accounts Inventory Furniture and Fixtures Accumulated Depreciation   Furniture and Fixtures Accounts Payable Current N P to Banks Notes Payable to Banks Other Liabilities Common Stock Additional Paid In Capital  Common Stock Retained Earnings Sales Cost of Goods Sold  Retail Parts Bank Fees Employee Benefits Rent Expense Salaries and Wages Telephone and Utilities Taxes   FUTA Expense FICA Medicare Taxes   SUTA Expense Interest Expense Hash Total Debit Credit 372,107 33 10 00 155,000 00 3,100 00 31,000 00 265,500 00 15,500 00 108,000 00 43,660 19 93,516 51 60,000 00 5,000 00 495,000 00 87,459 28 425,000 00 261,500 00 330 00 1,375 00 24,750 00 198,000 00 5,300 00 210 00 12,276 00 2,871 00 990 00 5,016 65 1,336,235 98 1,336,235 98 UTD Bank Student Company A C   5551234 Date of Last Date of This Statement Statement 11 30 2015 12 31 2015 Dallas, TX Account Type Checking Operating Account Balance Forward Total Debits Total Credits Closing Balance 264,430 07 347,669 09 246,000 00 162,760 98 Transactions Date Amount 70,000 00 45,000 00 50,000 00 36,000 00 20,000 00 25,000 00 2 Dec 2 Dec 3 Dec 5 Dec 10 Dec 15 Dec Date 1 Dec 1 Dec 2 Dec 5 Dec 5 Dec 5 Dec 15 Dec 15 Dec 15 Dec 16 Dec 30 Dec 30 Dec 31 Dec Check No  2010 2011 2001 2009 2006 2012 2005 2007 2013 2008 2020 N A N A Amount 108,000 00 74,000 00 2,000 00 2,652 48 273 76 12,660 00 790 00 1,302 00 127,500 00 304 50 3,638 35 14,518 00 30 00 Deposits and Other Credits Deposit Deposit Deposit Deposit Deposit Deposit Payee Vendor 30 Thomas Engineering LLC R Cook Medical Insurance of Kansas TX Dept of Revenue Dallas Insurance Agency IRS IRS Vendor 30 IRS First Bank Transfer to A C 5551235 Bank Charges UTD Bank Student Company A C   5551235 Date of Last Statement 11 30 2015 Dallas, TX Account Type Payroll Checking Date of This Statement 12 31 2015 Balance Forward Total Debits Total Credits Closing Balance 8,264 75 19,400 75 14,518 00 3,382 00 Transactions Date Amount 14,518 00 30 Dec Date 1 Dec 1 Dec 30 Dec 30 Dec 30 Dec Check No  1043 1044 1045 1047 1048 Amount 3,706 50 4,548 25 2,891 25 3,706 50 4,548 25 Deposits and Other Credits Transfer from A C 5551234 Payee Employee 30 Employee 40 Employee 10 Employee 30 Employee 40 Loan Calculator Amortization Table 1 Enter Values Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Loan Summary Scheduled Payments $ 2,251 22 Scheduled Number of Payments 36 Actual Number of Payments 36 Total Early Payments $ Total Interest $ 7,044 04 $74,000 6 00  3 12 12 1 2015 Lender Name  Your Company Pmt No  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Payment Date Beginning Balance Scheduled Payments 1 1 2016 2 1 2016 3 1 2016 4 1 2016 5 1 2016 6 1 2016 7 1 2016 8 1 2016 9 1 2016 10 1 2016 11 1 2016 12 1 2016 1 1 2017 2 1 2017 3 1 2017 4 1 2017 5 1 2017 6 1 2017 7 1 2017 8 1 2017 9 1 2017 10 1 2017 11 1 2017 12 1 2017 1 1 2018 2 1 2018 3 1 2018 4 1 2018 5 1 2018 6 1 2018 7 1 2018 8 1 2018 9 1 2018 10 1 2018 11 1 2018 12 1 2018 $74,000 00 $ 2,251 22 72,118 78 2,251 22 70,228 15 2,251 22 68,328 06 2,251 22 66,418 48 2,251 22 64,499 35 2,251 22 62,570 62 2,251 22 60,632 25 2,251 22 58,684 19 2,251 22 56,726 39 2,251 22 54,758 80 2,251 22 52,781 37 2,251 22 50,794 05 2,251 22 48,796 80 2,251 22 46,789 56 2,251 22 44,772 28 2,251 22 42,744 92 2,251 22 40,707 42 2,251 22 38,659 74 2,251 22 36,601 81 2,251 22 34,533 60 2,251 22 32,455 04 2,251 22 30,366 09 2,251 22 28,266 70 2,251 22 26,156 81 2,251 22 24,036 37 2,251 22 21,905 33 2,251 22 19,763 63 2,251 22 17,611 23 2,251 22 15,448 06 2,251 22 13,274 08 2,251 22 11,089 23 2,251 22 8,893 45 2,251 22 6,686 69 2,251 22 4,468 90 2,251 22 2,240 02 2,251 22 Extra Pmt $  Total Payment Principal Interest Ending Balance $ 2,251 22 $ 1,881 22 $ 370 00 $ 72,118 78 2,251 22 1,890 63 360 59 70,228 15 2,251 22 1,900 08 351 14 68,328 06 2,251 22 1,909 58 341 64 66,418 48 2,251 22 1,919 13 332 09 64,499 35 2,251 22 1,928 73 322 50 62,570 62 2,251 22 1,938 37 312 85 60,632 25 2,251 22 1,948 06 303 16 58,684 19 2,251 22 1,957 80 293 42 56,726 39 2,251 22 1,967 59 283 63 54,758 80 2,251 22 1,977 43 273 79 52,781 37 2,251 22 1,987 32 263 91 50,794 05 2,251 22 1,997 25 253 97 48,796 80 2,251 22 2,007 24 243 98 46,789 56 2,251 22 2,017 28 233 95 44,772 28 2,251 22 2,027 36 223 86 42,744 92 2,251 22 2,037 50 213 72 40,707 42 2,251 22 2,047 69 203 54 38,659 74 2,251 22 2,057 92 193 30 36,601 81 2,251 22 2,068 21 183 01 34,533 60 2,251 22 2,078 56 172 67 32,455 04 2,251 22 2,088 95 162 28 30,366 09 2,251 22 2,099 39 151 83 28,266 70 2,251 22 2,109 89 141 33 26,156 81 2,251 22 2,120 44 130 78 24,036 37 2,251 22 2,131 04 120 18 21,905 33 2,251 22 2,141 70 109 53 19,763 63 2,251 22 2,152 41 98 82 17,611 23 2,251 22 2,163 17 88 06 15,448 06 2,251 22 2,173 98 77 24 13,274 08 2,251 22 2,184 85 66 37 11,089 23 2,251 22 2,195 78 55 45 8,893 45 2,251 22 2,206 76 44 47 6,686 69 2,251 22 2,217 79 33 43 4,468 90 2,251 22 2,228 88 22 34 2,240 02 2,240 02 2,240 02 11 20 0 00 Loan Calculator Amortization Table 2 Enter Values Loan Amount Annual Interest Rate Loan Period in Years Number of Payments per Year Start Date of Loan Optional Extra Payments Loan Summary Scheduled Payments $ 3,638 35 Scheduled Number of Payments 60 Actual Number of Payments 60 Total Early Payments Total Interest $ 28,644 72 $200,000 3 50  5 12 3 30 2014 Lender Name  UTD BANK Pmt No  Payment Date Beginning Balance 1 4 30 2014 $ 200,000 00 2 5 31 2014 196,944 98 3 6 30 2014 193,881 06 4 7 31 2014 190,808 20 5 8 30 2014 187,726 37 6 9 30 2014 184,635 56 7 10 31 2014 181,535 73 8 11 30 2014 178,426 86 9 12 31 2014 175,308 92 Scheduled Payments Extra Pmt 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35   Total Payment Principal $ 3,638 35 $ 3,055 02 $ 3,638 35 3,063 93 3,638 35 3,072 86 3,638 35 3,081 83 3,638 35 3,090 81 3,638 35 3,099 83 3,638 35 3,108 87 3,638 35 3,117 94 3,638 35 3,127 03 10 1 30 2015 11 2 28 2015 12 3 31 2015 13 4 30 2015 14 5 31 2015 15 6 30 2015 16 7 31 2015 17 8 30 2015 18 9 30 2015 19 10 31 2015 20 11 30 2015 21 12 31 2015 172,181 89 169,045 74 165,900 44 162,745 97 159,582 29 156,409 39 153,227 24 150,035 80 146,835 06 143,624 98 140,405 53 137,176 70 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35   3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,136 15 3,145 30 3,154 47 3,163 67 3,172 90 3,182 15 3,191 44 3,200 74 3,210 08 3,219 44 3,228 83 3,238 25 22 1 30 2016 23 2 28 2016 24 3 31 2016 25 4 30 2016 26 5 31 2016 27 6 30 2016 28 7 31 2016 29 8 30 2016 30 9 30 2016 31 10 31 2016 32 11 30 2016 133,938 45 130,690 76 127,433 59 124,166 92 120,890 72 117,604 97 114,309 64 111,004 69 107,690 11 104,365 86 101,031 91 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35   3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,247 70 3,257 17 3,266 67 3,276 20 3,285 75 3,295 33 3,304 95 3,314 59 3,324 25 3,333 95 3,343 67 Interest Ending Balance 583 33 $ 196,944 98 574 42 193,881 06 565 49 190,808 20 556 52 187,726 37 547 54 184,635 56 538 52 181,535 73 529 48 178,426 86 520 41 175,308 92 511 32 172,181 89 4,927 03 502 20 169,045 74 493 05 165,900 44 483 88 162,745 97 474 68 159,582 29 465 45 156,409 39 456 19 153,227 24 446 91 150,035 80 437 60 146,835 06 428 27 143,624 98 418 91 140,405 53 409 52 137,176 70 400 10 133,938 45 5,416 75 390 65 130,690 76 381 18 127,433 59 371 68 124,166 92 362 15 120,890 72 352 60 117,604 97 343 01 114,309 64 333 40 111,004 69 323 76 107,690 11 314 10 104,365 86 304 40 101,031 91 294 68 97,688 23 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 12 31 2016 1 30 2017 2 28 2017 3 31 2017 4 30 2017 5 31 2017 6 30 2017 7 31 2017 8 30 2017 9 30 2017 10 31 2017 11 30 2017 12 31 2017 1 30 2018 2 28 2018 3 31 2018 4 30 2018 5 31 2018 6 30 2018 7 31 2018 8 30 2018 9 30 2018 10 31 2018 11 30 2018 12 31 2018 1 31 2019 2 28 2019 3 31 2018 97,688 23 94,334 81 90,971 60 87,598 59 84,215 73 80,823 02 77,420 40 74,007 86 70,585 37 67,152 89 63,710 41 60,257 88 56,795 28 53,322 59 49,839 76 46,346 78 42,843 61 39,330 22 35,806 58 32,272 67 28,728 45 25,173 89 21,608 97 18,033 64 14,447 89 10,851 68 7,244 99 3,627 77 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35   3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,638 35 3,627 77 3,353 42 3,363 21 3,373 02 3,382 85 3,392 72 3,402 62 3,412 54 3,422 49 3,432 48 3,442 49 3,452 53 3,462 60 3,472 70 3,482 82 3,492 98 3,503 17 3,513 39 3,523 64 3,533 91 3,544 22 3,554 56 3,564 93 3,575 32 3,585 75 3,596 21 3,606 70 3,617 22 $3,627 77 284 92 275 14 265 33 255 50 245 63 235 73 225 81 215 86 205 87 195 86 185 82 175 75 165 65 155 52 145 37 135 18 124 96 114 71 104 44 94 13 83 79 73 42 63 03 52 60 42 14 31 65 21 13 10 58 94,334 81 90,971 60 87,598 59 84,215 73 80,823 02 77,420 40 74,007 86 70,585 37 67,152 89 63,710 41 60,257 88 56,795 28 53,322 59 49,839 76 46,346 78 42,843 61 39,330 22 35,806 58 32,272 67 28,728 45 25,173 89 21,608 97 18,033 64 14,447 89 10,851 68 7,244 99 3,627 77 0 00 AIS PROJECT XERO   Part II Financial Schedules for Students Fall 2016 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Title AIS Project F16 Chart of Accounts  Code 1100 1110 1200 1205 1230 1240 1300 1410 1500 1505 2100 2150 2160 2165 2170 2180 2190 2200 2220 2700 2710 3100 3120 3200 4100 4500 4700 4800 5100 5200 5300 5400 5600 5700 5800 5900 6000 6100 6250 6300 6400  Name  Type Cash   Operating Bank Cash   Payroll Bank Accounts Receivable Accounts Receivable Allowance for Doubtful Accounts Current Asset Interest Receivable Current Asset Notes Receivable Current Asset Inventory Inventory Prepaid Insurance Current Asset Furniture   Fixtures Fixed Asset Less Accumulated Depreciation  Furniture   FixtureFixed Asset Accounts Payable Accounts Payable Federal Withholding Payable Current Liability FICA Payable Current Liability Medicare Payable Current Liability FUTA Payable Current Liability TX state SUTA payable Current Liability Interest Payable Current Liability Federal Income Tax Payable Current Liability Current N P to Bank Current Liability Notes Payable to Bank Non current Liability Other Liabilities Current Liability Common Stock Equity Additional Paid In Capital Equity Retained Earnings Retained Earnings Sales Sales Cost of Goods Sold Direct Costs Shrinkage and Waste Direct Costs Freight and handling Direct Costs Accounting Expense Advertising Expense Bad Debts Expense Bank Service Charges Expense Depreciation Expense Dues   Subscriptions Expense Employee Benefits Expense Insurance Expense Legal Expenses Expense Life Insurance   Administration Expense Postage Expense Rent Expense Repairs and Maintenance Expense qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx ChartOfAccounts 6500 6600 6700 8000 8300 8400 8450 8500 9000 9100 9200 9992 9993 9994 9997 9999 Salaries   Wages Supplies Telephone   Utilities Taxes   Federal Income Taxes   FUTA Expense Taxes   FICA Expense Taxes   Medicare Expense Taxes   SUTA Expense Interest Expense Interest Income Miscellaneous Income   Expense Not Used 2 Not used 3 Not Used 4 Not Used 7 Not Used 9 Expense Expense Expense Expense Expense Expense Expense Expense Expense Other Income Expense Unpaid Expense Claims Historical Adjustment Sales Tax Tracking Rounding qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx ChartOfAccounts Trial Balance UTD AIS Fall 2016 As at 1 December 2015 Account Assets 1100   Cash   Operating 1110   Cash   Payroll 1200   Accounts Receivable 1205   Allowance for Doubtful Accounts 1300   Inventory 1500   Furniture   Fixtures 1505   Less Accumulated Depreciation  Furniture   Fixtures 2100 2220 2700 2710 Debit Credit $372,107 33 $10 00 $155,000 00 $3,100 00 $31,000 00 $265,500 00 $15,500 00 Liabilities   Accounts Payable   Current N P to Bank   Notes Payable to Bank   Other Liabilities $108,000 00 $43,660 19 $93,516 51 $60,000 00 Equity 3100   Common Stock 3120   Additional Paid In Capital 3200   Retained Earnings $5,000 00 $495,000 00 $87,459 28 Revenue 4100   Sales $425,000 00 4500 5400 5900 6300 6500 6700 8300 8400 8450 8500 9000 Expenses   Cost of Goods Sold   Bank Service Charges   Insurance   Rent   Salaries   Wages   Telephone   Utilities   Taxes   FUTA Expense   Taxes   FICA Expense   Taxes   Medicare Expense   Taxes   SUTA Expense   Interest Expense Total $261,500 00 $330 00 $1,375 00 $24,750 00 $198,000 00 $5,300 00 $210 00 $12,276 00 $2,871 00 $990 00 $5,016 65 $1,336,235 98 $1,336,235 98 110120 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Trial Balance   As of 12 1 2015 Pre Adjusted Trial Balance UTD AIS Fall 2016 As at 31 December 2015 Account YTD Debit YTD Credit Assets 1100   Cash   Operating $153,083 20 1110   Cash   Payroll $10 00 1200   Accounts Receivable $162,400 00 1205   Allowance for Doubtful Accounts 1230   Interest Receivable $3,100 00 $   1240   Notes Receivable $71,748 78 1300   Inventory $82,500 00 1410   Prepaid Insurance $12,660 00 1500   Furniture   Fixtures $265,500 00 1505   Less Accumulated Depreciation  Furniture   Fixtures $15,500 00 Liabilities 2100   Accounts Payable $42,680 00 $ 2190   Interest Payable   2220   Current N P to Bank $43,660 19 2700   Notes Payable to Bank $89,878 16 2710   Other Liabilities $60,000 00 Equity 3100   Common Stock $5,000 00 3120   Additional Paid In Capital $495,000 00 3200   Retained Earnings $87,459 28 Revenue 4100   Sales $563,400 00 9100   Interest Income Expenses 4500   Cost of Goods Sold $337,500 00 4700   Shrinkage   Waste 4800   Freight and handling $4,725 00 5100   Accounting $31,000 00 5200   Advertising 5300   Bad Debt Ex $1,500 00 $ 5400   Bank Service Charges 5600   Depreciation $18,000 00 5700   Dues   Subscriptions $550 00 5800   Employee Benefits $125 00 5900   Insurance $1,375 00 6000   Legal Expenses 6100   Life   Insurance   Admin 6300   Rent 6400   Repairs and Maintenance 6500   Salaries   Wages 6700   Telephone   Utilities $330 00 $7,600 00 $ $27,000 00 $1,500 00 $198,000 00 $5,830 00 8300   Taxes   FUTA Expense $1,326 00 8400   Taxes   FICA Expense $12,276 00 8450   Taxes   Medicare Expense $2,871 00 8500   Taxes   SUTA Expense $1,251 00 9000   Interest Expense $5,016 65 Total $1,405,677 63 $1,405,677 63 General Ledger Report UTD AIS Fall 2016 From 1 December 2015 to 31 December 2015 Date Type Transaction Reference 1100   Cash   Operating 12 1 2015 Opening balance 12 1 2015 PAY Payment  Vendor 30 12 1 2015 PAY Thomas Engineering 12 3 2015 PAY Payment  Customer 30 INV 0003 12 5 2015 PAY Payment  Dallas Insurance Agen V710 12 5 2015 PAY Payment  Customer 40 INV 0004 12 5 2015 PAY Payment  Customer 40 INV 0005 12 10 2015 PAY Payment  Customer 10 INV 0001 12 15 2015 PAY Payment  Customer 20 INV 0002 12 15 2015 PAY Payment  Vendor 30 V457 12 15 2015 PAY Payment  Vendor 30 V456 12 30 2015 PAY Payment  Freight 12 30 2015 PAY Payment  Medical Insurance Co oV654 12 30 2015 BT Bank Transfer from Cash   OperatDec payroll 12 30 2015 PAY Landlord 12 30 2015 PAY US Treasury 12 30 2015 PAY US Treasury 12 30 2015 PAY UTD Bank 12 30 2015 PAY US Treasury 12 31 2015 PAY Thomas Engineering 12 31 2015 Total 1100   Cash   Operating 1110   Cash   Payroll 12 1 2015 Opening balance 12 30 2015 BT Bank Transfer from Cash   OperatDec payroll 12 30 2015 PAY Employee 10 December Payroll 12 30 2015 PAY Employee 20 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 31 2015 Total 1110   Cash   Payroll 1200   Accounts Receivable 12 1 2015 Opening balance 12 2 2015 INV Customer 40 INV 0005 12 3 2015 PAY Payment  Customer 30 INV 0003 12 5 2015 INV Customer 30 INV 0006 12 5 2015 PAY Payment  Customer 40 INV 0004 12 5 2015 PAY Payment  Customer 40 INV 0005 12 10 2015 INV Customer 40 INV 0007 12 10 2015 PAY Payment  Customer 10 INV 0001 12 15 2015 PAY Payment  Customer 20 INV 0002 12 20 2015 INV Customer 10 INV 0008 12 28 2015 INV Customer 20 INV 0009 12 31 2015 Total 1200   Accounts Receivable 1205   Allowance for Doubtful Accounts 12 1 2015 Opening balance 12 31 2015 Total 1205   Allowance for Doubtful Accounts 1240   Notes Receivable 12 1 2015 Opening balance 12 1 2015 PAY Thomas Engineering   Loan 12 31 2015 PAY Thomas Engineering   January Note Payment 12 31 2015 Total 1240   Notes Receivable Debit Credit YTD Balance $352,275 35 $372,107 33 $264,107 33 $190,107 33 $240,107 33 $227,447 33 $239,447 33 $263,447 33 $283,447 33 $308,447 33 $255,947 33 $180,947 33 $176,222 33 $175,722 33 $161,204 33 $158,954 33 $157,224 33 $154,992 33 $151,353 98 $150,831 98 $153,083 20 $153,083 20 $2,891 25 $3,372 00 $3,706 50 $4,548 25 $14,518 00 $10 00 $14,528 00 $11,636 75 $8,264 75 $4,558 25 $10 00 $10 00 $108,000 00 $74,000 00 $50,000 00 $12,660 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $14,518 00 $2,250 00 $1,730 00 $2,232 00 $3,638 35 $522 00 $2,251 22 $133,251 22 $14,518 00 $14,518 00 $9,400 00 $24,000 00 $138,400 00 $131,000 00 $155,000 00 $179,000 00 $129,000 00 $177,000 00 $165,000 00 $141,000 00 $174,000 00 $154,000 00 $129,000 00 $138,400 00 $162,400 00 $162,400 00 $0 00 $0 00  $3,100 00  $3,100 00 $2,251 22 $2,251 22 $0 00 $74,000 00 $71,748 78 $71,748 78 $24,000 00 $50,000 00 $48,000 00 $12,000 00 $24,000 00 $33,000 00 $20,000 00 $25,000 00 $74,000 00 $74,000 00 Date Type Transaction 1300   Inventory 12 1 2015 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 12 5 2015 12 6 2015 INV 12 10 2015 12 20 2015 12 28 2015 12 31 2015 Opening balance Vendor 30   Inventory Item Vendor 30   Inventory Item Vendor 30   Inventory Item Vendor 30   Inventory Item Customer 40 Customer 30 Vendor 30   Inventory Item Customer 40 Customer 10 Customer 20 Total 1300   Inventory Reference Debit Credit YTD Balance $18,000 00 $6,000 00 $12,000 00 $76,000 00 $31,000 00 $46,000 00 $61,000 00 $71,000 00 $106,000 00 $94,000 00 $66,000 00 $118,500 00 $100,500 00 $94,500 00 $82,500 00 $82,500 00 $7,680 00 $4,980 00 $12,660 00 $0 00 $0 00 $7,680 00 $12,660 00 $12,660 00 1500   Furniture   Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1500   Furniture   Fixtures $0 00 $0 00 $265,500 00 $265,500 00 1505   Less Accumulated Depreciation  Furniture   Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1505   Less Accumulated Depreciation  Furniture   Fixtu $0 00 $0 00  $15,500 00  $15,500 00 10 20 30 40 V456 V456 V456 V456 $12,000 00 $28,000 00 40 V457 1410   Prepaid Insurance 12 1 2015 Opening balance 12 1 2015 INV Dallas Insurance Agency   BusineV710 12 1 2015 INV Dallas Insurance Agency   CEO LV710 12 31 2015 Total 1410   Prepaid Insurance 2100   Accounts Payable 12 1 2015 Opening balance 12 1 2015 INV Vendor 20 V123 12 1 2015 INV Dallas Insurance Agency V710 12 1 2015 INV Medical Insurance Co of Texas V654 12 1 2015 PAY Payment  Vendor 30 12 2 2015 INV Vendor 30 V456 12 5 2015 PAY Payment  Dallas Insurance Agen V710 12 6 2015 INV Vendor 30 V457 12 15 2015 INV Bill's Repair   Maint V810 12 15 2015 INV Clark Rotary V907 12 15 2015 INV Texas Phone   Utility V654 12 15 2015 PAY Payment  Vendor 30 V457 12 15 2015 PAY Payment  Vendor 30 V456 12 30 2015 INV R  Heinlein's Accounting Service V222 12 30 2015 INV A McCafferty Advertising VA01 12 30 2015 INV H Wells Attorney at Law V723 12 30 2015 INV Freight 12 30 2015 PAY Payment  Freight 12 30 2015 PAY Payment  Medical Insurance Co oV654 12 31 2015 Total 2100   Accounts Payable 2150   Federal Withholding Payable 12 1 2015 Opening balance 12 30 2015 PAY US Treasury   Federal Withholding 12 30 2015 PAY Employee 10   Employee 10   FedDecember Payroll 12 30 2015 PAY Employee 20   Employee 20   FedDecember Payroll 12 30 2015 PAY Employee 30   Empoloyee 30   FeDecember Payroll 12 30 2015 PAY Employee 30   Employee 40   FedDecember Payroll 12 31 2015 Total 2150   Federal Withholding Payable 2160   FICA Payable 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY $15,000 00 $15,000 00 $10,000 00 $35,000 00 Opening balance US Treasury   FICA   Employee Employee 10   Employee 10   FI December Payroll Employee 20   Employee 20   FI December Payroll $52,500 00 $127,500 00 $188,065 00  $108,000 00  $119,000 00  $131,660 00  $132,160 00  $24,160 00  $99,160 00  $86,500 00  $139,000 00  $140,500 00  $141,050 00  $141,580 00  $89,080 00  $14,080 00  $34,080 00  $35,580 00  $43,180 00  $47,905 00  $43,180 00  $42,680 00  $42,680 00 $236 00 $217 00 $851 00 $426 00 $1,730 00 $0 00 $1,730 00 $1,494 00 $1,277 00 $426 00 $0 00 $0 00 $217 00 $248 00 $0 00 $1,116 00 $899 00 $651 00 $11,000 00 $12,660 00 $500 00 $108,000 00 $75,000 00 $12,660 00 $52,500 00 $1,500 00 $550 00 $530 00 $52,500 00 $75,000 00 $20,000 00 $1,500 00 $7,600 00 $4,725 00 $4,725 00 $500 00 $253,385 00 $1,730 00 $1,730 00 $1,116 00 Date Type Transaction 12 30 2015 12 30 2015 12 31 2015 PAY PAY Reference Employee 30   Employee 30   FI December Payroll Employee 30   Employee 40   FI December Payroll Total 2160   FICA Payable Debit Credit $1,116 00 YTD Balance $310 00 $341 00 $1,116 00 $341 00 $0 00 $0 00 Date Type Transaction Reference 2165   Medicare Payable 12 1 2015 Opening balance 12 30 2015 PAY Employee 10   Employee 10   MeDecember Payroll 12 30 2015 PAY Employee 20   Employee 20   MeDecember Payroll 12 30 2015 PAY Employee 30   Employee 30   MeDecember Payroll 12 30 2015 PAY Employee 30   Employee 40   MeDecember Payroll 12 30 2015 PAY US Treasury   Medicare   Employee 12 31 2015 Total 2165   Medicare Payable Debit Credit YTD Balance $261 00 $261 00 $261 00 $0 00  $50 75  $108 75  $181 25  $261 00 $0 00 $0 00 $0 00 $0 00  $43,660 19  $43,660 19 $3,638 35 $3,638 35 $0 00  $93,516 51  $89,878 16  $89,878 16 2710   Other Liabilities 12 1 2015 Opening balance 12 31 2015 Total 2710   Other Liabilities $0 00 $0 00  $60,000 00  $60,000 00 3100   Common Stock 12 1 2015 Opening balance 12 31 2015 Total 3100   Common Stock $0 00 $0 00  $5,000 00  $5,000 00 3120   Additional Paid In Capital 12 1 2015 Opening balance 12 31 2015 Total 3120   Additional Paid In Capital $0 00 $0 00  $495,000 00  $495,000 00 3200   Retained Earnings 12 1 2015 Opening balance 12 31 2015 Total 3200   Retained Earnings $0 00 $0 00  $87,459 28  $87,459 28 $0 00 $24,000 00 $48,000 00 $33,000 00 $9,400 00 $24,000 00 $138,400 00  $425,000 00  $449,000 00  $497,000 00  $530,000 00  $539,400 00  $563,400 00  $563,400 00 $0 00 $261,500 00 $273,500 00 $301,500 00 $319,500 00 $325,500 00 $337,500 00 $337,500 00 2220   Current N P to Bank 12 1 2015 Opening balance 12 31 2015 Total 2220   Current N P to Bank 2700   Notes Payable to Bank 12 1 2015 Opening balance 12 30 2015 PAY UTD Bank   Loan Payment   Dec 12 31 2015 Total 2700   Notes Payable to Bank 4100   Sales 12 1 2015 12 2 2015 12 5 2015 12 10 2015 12 20 2015 12 28 2015 12 31 2015 INV INV INV INV INV Opening balance Customer 40   Inventory Item Customer 30   Inventory Item Customer 40   Inventory Item Customer 10   Inventory Item Customer 20   Inventory Item Total 4100   Sales 30 40 20 10 30 $50 75 $58 00 $72 50 $79 75 INV 0005 INV 0006 INV 0007 INV 0008 INV 0009 4500   Cost of Goods Sold 12 1 2015 Opening balance 12 2 2015 Customer 40 12 5 2015 Customer 30 12 10 2015 Customer 40 12 20 2015 Customer 10 12 28 2015 Customer 20 12 31 2015 Total 4500   Cost of Goods Sold $12,000 00 $28,000 00 $18,000 00 $6,000 00 $12,000 00 $76,000 00 Date Type Transaction Reference 4800   Freight and handling 12 1 2015 Opening balance 12 30 2015 INV Freight   Freight 12 31 2015 Total 4800   Freight and handling Debit Credit $4,725 00 $4,725 00 YTD Balance $0 00 $0 00 $4,725 00 $4,725 00 $0 00 $0 00 $11,000 00 $31,000 00 $31,000 00 5100   Accounting 12 1 2015 12 1 2015 INV 12 30 2015 INV 12 31 2015 Opening balance Vendor 20   Fixed Asset V123 R  Heinlein's Accounting Service V222 Total 5100   Accounting $11,000 00 $20,000 00 $31,000 00 5200   Advertising 12 1 2015 12 30 2015 INV 12 31 2015 Opening balance A McCafferty Advertising   Ad DesVA01 Total 5200   Advertising $1,500 00 $1,500 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $0 00 $330 00 $330 00 $0 00 $0 00 $3,500 00 $7,500 00 $12,500 00 $18,000 00 $18,000 00 $0 00 $0 00 $550 00 $550 00 5400   Bank Service Charges 12 1 2015 Opening balance 12 31 2015 Total 5400   Bank Service Charges 5600   Depreciation 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance Employee 10   Employee 10   Gr December Payroll Employee 20   Employee 20   Gr December Payroll Employee 30   Employee 30   Gr December Payroll Employee 30   Employee 40   Gr December Payroll Total 5600   Depreciation 5700   Dues   Subscriptions 12 1 2015 Opening balance 12 15 2015 INV Clark Rotary   Dues   December V907 12 31 2015 Total 5700   Dues   Subscriptions 5800   Employee Benefits 12 1 2015 Opening balance 12 1 2015 INV Medical Insurance Co of Texas   V654 12 30 2015 PAY Employee 10   Employee 10   Hea December Payroll 12 30 2015 PAY Employee 20   Employee 20   Hea December Payroll 12 30 2015 PAY Employee 30   Employee 30   Hea December Payroll 12 30 2015 PAY Employee 30   Employee 40   Hea December Payroll 12 30 2015 to correct improper account   12 31 2015 Total 5800   Employee Benefits 5900   Insurance 12 1 2015 12 30 2015 12 31 2015 Opening balance to correct improper account   Total 5900   Insurance $3,500 00 $4,000 00 $5,000 00 $5,500 00 $18,000 00 $550 00 $550 00 $1,375 00 $1,875 00 $375 00 $0 00 $500 00 $395 00 $290 00 $230 00 $125 00 $1,500 00 $1,500 00 $0 00 $1,375 00 $0 00 $1,375 00 $0 00 $0 00 $0 00 $0 00 $7,600 00 $7,600 00 $0 00 $24,750 00 $27,000 00 $27,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $500 00 $105 00 $105 00 $60 00 $105 00 6000   Legal Expenses 12 1 2015 Opening balance 12 30 2015 INV H Wells Attorney at Law   ComforV723 12 31 2015 Total 6000   Legal Expenses $7,600 00 $7,600 00 6300   Rent 12 1 2015 12 30 2015 12 31 2015 Opening balance Landlord   Rent Total 6300   Rent $2,250 00 $2,250 00 6400   Repairs and Maintenance 12 1 2015 Opening balance 12 15 2015 INV Bill's Repair   Maint   Maintenan V810 12 31 2015 Total 6400   Repairs and Maintenance $1,500 00 $1,500 00 PAY 6500   Salaries   Wages 12 1 2015 Opening balance $198,000 00 Date 12 31 2015 Type Transaction Reference Total 6500   Salaries   Wages 6700   Telephone   Utilities 12 1 2015 Opening balance 12 15 2015 INV Texas Phone   Utility   Dec PhonV654 12 31 2015 Total 6700   Telephone   Utilities Debit Credit $0 00 $530 00 $530 00 YTD Balance $0 00 $198,000 00 $0 00 $5,300 00 $5,830 00 $5,830 00 8300   Taxes   FUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury   FICA   Employer 12 31 2015 Total 8300   Taxes   FUTA Expense $1,116 00 $1,116 00 $0 00 $210 00 $1,326 00 $1,326 00 8400   Taxes   FICA Expense 12 1 2015 Opening balance 12 31 2015 Total 8400   Taxes   FICA Expense $0 00 $0 00 $12,276 00 $12,276 00 8450   Taxes   Medicare Expense 12 1 2015 Opening balance 12 31 2015 Total 8450   Taxes   Medicare Expense $0 00 $0 00 $2,871 00 $2,871 00 $261 00 $261 00 $0 00 $990 00 $1,251 00 $1,251 00 $0 00 $0 00 $5,016 65 $5,016 65 8500   Taxes   SUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury   Medicare   Employer 12 31 2015 Total 8500   Taxes   SUTA Expense 9000   Interest Expense 12 1 2015 Opening balance 12 31 2015 Total 9000   Interest Expense General Ledger Report UTD AIS Fall 2016 From 1 December 2015 to 31 December 2015 Date Type Transaction Reference 1100   Cash   Operating 12 1 2015 Opening balance 12 1 2015 PAY Payment  Vendor 30 12 1 2015 PAY Thomas Engineering 12 3 2015 PAY Payment  Customer 30 INV 0003 12 5 2015 PAY Payment  Dallas Insurance AgencV710 12 5 2015 PAY Payment  Customer 40 INV 0004 12 5 2015 PAY Payment  Customer 40 INV 0005 12 10 2015 PAY Payment  Customer 10 INV 0001 12 15 2015 PAY Payment  Customer 20 INV 0002 12 15 2015 PAY Payment  Vendor 30 V457 12 15 2015 PAY Payment  Vendor 30 V456 12 30 2015 PAY Payment  Freight 12 30 2015 PAY Payment  Medical Insurance Co oV654 12 30 2015 BT Bank Transfer from Cash   OperatDec payroll 12 30 2015 PAY Landlord 12 30 2015 PAY US Treasury 12 30 2015 PAY US Treasury 12 30 2015 PAY UTD Bank 12 30 2015 PAY US Treasury 12 31 2015 PAY Thomas Engineering 12 31 2015 Total 1100   Cash   Operating 1110   Cash   Payroll 12 1 2015 Opening balance 12 30 2015 BT Bank Transfer from Cash   OperatDec payroll 12 30 2015 PAY Employee 10 December Payroll 12 30 2015 PAY Employee 20 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 30 2015 PAY Employee 30 December Payroll 12 31 2015 Total 1110   Cash   Payroll 1200   Accounts Receivable 12 1 2015 Opening balance 12 2 2015 INV Customer 40 INV 0005 12 3 2015 PAY Payment  Customer 30 INV 0003 12 5 2015 INV Customer 30 INV 0006 12 5 2015 PAY Payment  Customer 40 INV 0004 12 5 2015 PAY Payment  Customer 40 INV 0005 12 10 2015 INV Customer 40 INV 0007 12 10 2015 PAY Payment  Customer 10 INV 0001 12 15 2015 PAY Payment  Customer 20 INV 0002 12 20 2015 INV Customer 10 INV 0008 12 28 2015 INV Customer 20 INV 0009 12 31 2015 Total 1200   Accounts Receivable 1205   Allowance for Doubtful Accounts 12 1 2015 Opening balance 12 31 2015 Total 1205   Allowance for Doubtful Accounts Debit $50,000 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $2,251 22 $133,251 22 $14,518 00 $14,518 00 $24,000 00 $48,000 00 $33,000 00 $9,400 00 $24,000 00 $138,400 00 $0 00 1240   Notes Receivable 12 1 2015 Opening balance 12 1 2015 PAY Thomas Engineering   Loan 12 31 2015 PAY Thomas Engineering   January Note Payment 12 31 2015 Total 1240   Notes Receivable 1300   Inventory 12 1 2015 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 INV 12 2 2015 12 5 2015 12 6 2015 INV 12 10 2015 12 20 2015 12 28 2015 12 31 2015 Opening balance Vendor 30   Inventory Item 10 Vendor 30   Inventory Item 20 Vendor 30   Inventory Item 30 Vendor 30   Inventory Item 40 Customer 40 Customer 30 Vendor 30   Inventory Item 40 Customer 40 Customer 10 Customer 20 Total 1300   Inventory $74,000 00 $74,000 00 V456 V456 V456 V456 $15,000 00 $15,000 00 $10,000 00 $35,000 00 V457 $52,500 00 1410   Prepaid Insurance 12 1 2015 Opening balance 12 1 2015 INV Dallas Insurance Agency   BusineV710 12 1 2015 INV Dallas Insurance Agency   CEO LV710 12 31 2015 Total 1410   Prepaid Insurance $127,500 00 $7,680 00 $4,980 00 $12,660 00 1500   Furniture   Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1500   Furniture   Fixtures $0 00 1505   Less Accumulated Depreciation  Furniture   Fixtures 12 1 2015 Opening balance 12 31 2015 Total 1505   Less Accumulated Depreciation  Furniture   Fixtu $0 00 2100   Accounts Payable 12 1 2015 Opening balance 12 1 2015 INV Vendor 20 V123 12 1 2015 INV Dallas Insurance Agency V710 12 1 2015 INV Medical Insurance Co of Texas V654 12 1 2015 PAY Payment  Vendor 30 12 2 2015 INV Vendor 30 V456 12 5 2015 PAY Payment  Dallas Insurance AgencV710 12 6 2015 INV Vendor 30 V457 12 15 2015 INV Bill's Repair   Maint V810 12 15 2015 INV Clark Rotary V907 12 15 2015 INV Texas Phone   Utility V654 12 15 2015 PAY Payment  Vendor 30 V457 12 15 2015 PAY Payment  Vendor 30 V456 12 30 2015 INV R  Heinlein's Accounting Service V222 12 30 2015 INV A McCafferty Advertising VA01 12 30 2015 INV H Wells Attorney at Law V723 12 30 2015 INV Freight 12 30 2015 PAY Payment  Freight 12 30 2015 PAY Payment  Medical Insurance Co oV654 12 31 2015 Total 2100   Accounts Payable 2150   Federal Withholding Payable $108,000 00 $12,660 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $253,385 00 12 1 2015 12 30 2015 12 30 2015 12 30 2015 12 30 2015 12 30 2015 12 31 2015 PAY PAY PAY PAY PAY 2160   FICA Payable 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance US Treasury   Federal Withholding Employee 10   Employee 10   FedDecember Payroll Employee 20   Employee 20   FedDecember Payroll Employee 30   Empoloyee 30   FeDecember Payroll Employee 30   Employee 40   FedDecember Payroll Total 2150   Federal Withholding Payable Opening balance US Treasury   FICA   Employee Employee 10   Employee 10   FI Employee 20   Employee 20   FI Employee 30   Employee 30   FI Employee 30   Employee 40   FI Total 2160   FICA Payable $1,730 00 $1,730 00 $1,116 00 December Payroll December Payroll December Payroll December Payroll $1,116 00 2165   Medicare Payable 12 1 2015 Opening balance 12 30 2015 PAY Employee 10   Employee 10   MeDecember Payroll 12 30 2015 PAY Employee 20   Employee 20   MeDecember Payroll 12 30 2015 PAY Employee 30   Employee 30   MeDecember Payroll 12 30 2015 PAY Employee 30   Employee 40   MeDecember Payroll 12 30 2015 PAY US Treasury   Medicare   Employee 12 31 2015 Total 2165   Medicare Payable 2220   Current N P to Bank 12 1 2015 Opening balance 12 31 2015 Total 2220   Current N P to Bank 2700   Notes Payable to Bank 12 1 2015 Opening balance 12 30 2015 PAY UTD Bank   Loan Payment   Dec 12 31 2015 Total 2700   Notes Payable to Bank $261 00 $261 00 $0 00 $3,638 35 $3,638 35 2710   Other Liabilities 12 1 2015 Opening balance 12 31 2015 Total 2710   Other Liabilities $0 00 3100   Common Stock 12 1 2015 Opening balance 12 31 2015 Total 3100   Common Stock $0 00 3120   Additional Paid In Capital 12 1 2015 Opening balance 12 31 2015 Total 3120   Additional Paid In Capital $0 00 3200   Retained Earnings 12 1 2015 Opening balance 12 31 2015 Total 3200   Retained Earnings $0 00 4100   Sales 12 1 2015 12 2 2015 12 5 2015 12 10 2015 12 20 2015 INV INV INV INV Opening balance Customer 40   Inventory Item 30 Customer 30   Inventory Item 40 Customer 40   Inventory Item 20 Customer 10   Inventory Item 10 INV 0005 INV 0006 INV 0007 INV 0008 12 28 2015 12 31 2015 INV Customer 20   Inventory Item 30 INV 0009 Total 4100   Sales $0 00 4500   Cost of Goods Sold 12 1 2015 Opening balance 12 2 2015 Customer 40 12 5 2015 Customer 30 12 10 2015 Customer 40 12 20 2015 Customer 10 12 28 2015 Customer 20 12 31 2015 Total 4500   Cost of Goods Sold $12,000 00 $28,000 00 $18,000 00 $6,000 00 $12,000 00 $76,000 00 4800   Freight and handling 12 1 2015 Opening balance 12 30 2015 INV Freight   Freight 12 31 2015 Total 4800   Freight and handling $4,725 00 $4,725 00 5100   Accounting 12 1 2015 12 1 2015 INV 12 30 2015 INV 12 31 2015 Opening balance Vendor 20   Fixed Asset V123 R  Heinlein's Accounting Service V222 Total 5100   Accounting $11,000 00 $20,000 00 $31,000 00 5200   Advertising 12 1 2015 12 30 2015 INV 12 31 2015 Opening balance A McCafferty Advertising   Ad DesVA01 Total 5200   Advertising $1,500 00 $1,500 00 5400   Bank Service Charges 12 1 2015 Opening balance 12 31 2015 Total 5400   Bank Service Charges 5600   Depreciation 12 1 2015 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 30 2015 PAY 12 31 2015 Opening balance Employee 10   Employee 10   Gr December Payroll Employee 20   Employee 20   Gr December Payroll Employee 30   Employee 30   Gr December Payroll Employee 30   Employee 40   Gr December Payroll Total 5600   Depreciation 5700   Dues   Subscriptions 12 1 2015 Opening balance 12 15 2015 INV Clark Rotary   Dues   December V907 12 31 2015 Total 5700   Dues   Subscriptions 5800   Employee Benefits 12 1 2015 Opening balance 12 1 2015 INV Medical Insurance Co of Texas   V654 12 30 2015 PAY Employee 10   Employee 10   Hea December Payroll 12 30 2015 PAY Employee 20   Employee 20   Hea December Payroll 12 30 2015 PAY Employee 30   Employee 30   Hea December Payroll 12 30 2015 PAY Employee 30   Employee 40   Hea December Payroll 12 31 2015 Total 5800   Employee Benefits 5900   Insurance 12 1 2015 12 31 2015 Opening balance Total 5900   Insurance $0 00 $3,500 00 $4,000 00 $5,000 00 $5,500 00 $18,000 00 $550 00 $550 00 $500 00 $500 00 $0 00 6000   Legal Expenses 12 1 2015 Opening balance 12 30 2015 INV H Wells Attorney at Law   ComfortV723 12 31 2015 Total 6000   Legal Expenses $7,600 00 $7,600 00 6300   Rent 12 1 2015 12 30 2015 12 31 2015 Opening balance Landlord   Rent Total 6300   Rent $2,250 00 $2,250 00 6400   Repairs and Maintenance 12 1 2015 Opening balance 12 15 2015 INV Bill's Repair   Maint   Maintenan V810 12 31 2015 Total 6400   Repairs and Maintenance $1,500 00 $1,500 00 PAY 6500   Salaries   Wages 12 1 2015 Opening balance 12 31 2015 Total 6500   Salaries   Wages 6700   Telephone   Utilities 12 1 2015 Opening balance 12 15 2015 INV Texas Phone   Utility   Dec PhonV654 12 31 2015 Total 6700   Telephone   Utilities $0 00 $530 00 $530 00 8300   Taxes   FUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury   FICA   Employer 12 31 2015 Total 8300   Taxes   FUTA Expense $1,116 00 $1,116 00 8400   Taxes   FICA Expense 12 1 2015 Opening balance 12 31 2015 Total 8400   Taxes   FICA Expense $0 00 8450   Taxes   Medicare Expense 12 1 2015 Opening balance 12 31 2015 Total 8450   Taxes   Medicare Expense $0 00 8500   Taxes   SUTA Expense 12 1 2015 Opening balance 12 30 2015 PAY US Treasury   Medicare   Employer 12 31 2015 Total 8500   Taxes   SUTA Expense 9000   Interest Expense 12 1 2015 Opening balance 12 31 2015 Total 9000   Interest Expense $261 00 $261 00 $0 00 2015 Credit YTD Balance $352,275 35 $372,107 33 $264,107 33 $190,107 33 $240,107 33 $227,447 33 $239,447 33 $263,447 33 $283,447 33 $308,447 33 $255,947 33 $180,947 33 $176,222 33 $175,722 33 $161,204 33 $158,954 33 $157,224 33 $154,992 33 $151,353 98 $150,831 98 $153,083 20 $153,083 20 $2,891 25 $3,372 00 $3,706 50 $4,548 25 $14,518 00 $10 00 $14,528 00 $11,636 75 $8,264 75 $4,558 25 $10 00 $10 00 $108,000 00 $74,000 00 $12,660 00 $52,500 00 $75,000 00 $4,725 00 $500 00 $14,518 00 $2,250 00 $1,730 00 $2,232 00 $3,638 35 $522 00 $131,000 00 $155,000 00 $179,000 00 $129,000 00 $177,000 00 $165,000 00 $141,000 00 $174,000 00 $154,000 00 $129,000 00 $138,400 00 $162,400 00 $162,400 00 $0 00  $3,100 00  $3,100 00 $50,000 00 $12,000 00 $24,000 00 $20,000 00 $25,000 00 $2,251 22 $2,251 22 $0 00 $74,000 00 $71,748 78 $71,748 78 $18,000 00 $6,000 00 $12,000 00 $76,000 00 $31,000 00 $46,000 00 $61,000 00 $71,000 00 $106,000 00 $94,000 00 $66,000 00 $118,500 00 $100,500 00 $94,500 00 $82,500 00 $82,500 00 $0 00 $0 00 $7,680 00 $12,660 00 $12,660 00 $0 00 $265,500 00 $265,500 00 $0 00  $15,500 00  $15,500 00 $12,000 00 $28,000 00 $11,000 00 $12,660 00 $500 00 $75,000 00 $52,500 00 $1,500 00 $550 00 $530 00 $20,000 00 $1,500 00 $7,600 00 $4,725 00 $188,065 00  $108,000 00  $119,000 00  $131,660 00  $132,160 00  $24,160 00  $99,160 00  $86,500 00  $139,000 00  $140,500 00  $141,050 00  $141,580 00  $89,080 00  $14,080 00  $34,080 00  $35,580 00  $43,180 00  $47,905 00  $43,180 00  $42,680 00  $42,680 00 $236 00 $217 00 $851 00 $426 00 $1,730 00 $0 00 $1,730 00 $1,494 00 $1,277 00 $426 00 $0 00 $0 00 $217 00 $248 00 $310 00 $341 00 $1,116 00 $0 00 $1,116 00 $899 00 $651 00 $341 00 $0 00 $0 00 $261 00 $0 00  $50 75  $108 75  $181 25  $261 00 $0 00 $0 00 $0 00  $43,660 19  $43,660 19 $0 00  $93,516 51  $89,878 16  $89,878 16 $0 00  $60,000 00  $60,000 00 $0 00  $5,000 00  $5,000 00 $0 00  $495,000 00  $495,000 00 $0 00  $87,459 28  $87,459 28 $24,000 00 $48,000 00 $33,000 00 $9,400 00  $425,000 00  $449,000 00  $497,000 00  $530,000 00  $539,400 00 $50 75 $58 00 $72 50 $79 75 $24,000 00 $138,400 00  $563,400 00  $563,400 00 $0 00 $261,500 00 $273,500 00 $301,500 00 $319,500 00 $325,500 00 $337,500 00 $337,500 00 $0 00 $0 00 $4,725 00 $4,725 00 $0 00 $0 00 $11,000 00 $31,000 00 $31,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $330 00 $330 00 $0 00 $0 00 $3,500 00 $7,500 00 $12,500 00 $18,000 00 $18,000 00 $0 00 $0 00 $550 00 $550 00 $105 00 $105 00 $60 00 $105 00 $375 00 $0 00 $500 00 $395 00 $290 00 $230 00 $125 00 $125 00 $0 00 $1,375 00 $1,375 00 $0 00 $0 00 $7,600 00 $7,600 00 $0 00 $24,750 00 $27,000 00 $27,000 00 $0 00 $0 00 $1,500 00 $1,500 00 $0 00 $198,000 00 $198,000 00 $0 00 $5,300 00 $5,830 00 $5,830 00 $0 00 $210 00 $1,326 00 $1,326 00 $0 00 $12,276 00 $12,276 00 $0 00 $2,871 00 $2,871 00 $0 00 $990 00 $1,251 00 $1,251 00 $0 00 $5,016 65 $5,016 65 UTD AIS Fall 2016 General Journal   Corrections   Adjustments Date Explanation GJ1 12 30 5800 Employee Benefits 5900 Insurance Explanation  to correct the improper account   Posted Ref GL Acct  qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx General Journal x x ments Debit Credit 1375 1375 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx General Journal Fixed Asset Subsidiary Ledger Fixed Assets   Furnitures and Fixtures Account 1500 Item 10 Purchase Date  Disposal Date  Vendor  Dec 12 F10 March 1, 2014 n a Vendor 20 1 Balance Forward 30 Depreciation Method  Salvage Value  Ref Debit November 2, 2014 n a Vendor 20 1 Balance Forward 30 Depreciation Method  Salvage Value  Ref Debit Straight Line Annual Depreciation $ 18,000 00 $ 20,000 00 Useful Life 10 Years Credit Debit Balance Credit Balance 200,000 00 GJ Item 20 Purchase Date  Disposal Date  Vendor  Dec 12 Debit GJ Credit Balance 15,000 00 33,000 00 Accumulated Depreciation Credit Debit Balance 500 00 3,000 00 Credit Balance 500 00 3,500 00 Accumulated Depreciation Credit Debit Balance Credit Balance F30 October 1, 2015 n a Vendor 20 1 Balance Forward 30 Depreciation Method  Salvage Value  Ref Debit December 2, 2015 n a Vendor 20 1 Balance Forward 30 30 Depreciation Method  Salvage Value  Ref Debit Straight Line Annual Depreciation $ 4,500 00 $ 5,000 00 Useful Life 10 Years Credit Debit Balance Credit Balance 50,000 00 Debit GJ 1,125 00 Item 40 Purchase Date  Disposal Date  Vendor  Dec 12 12 Accumulated Depreciation Credit Debit Balance 15,000 00 18,000 00 F20 Straight Line Annual Depreciation $ 3,000 00 $ 500 00 Useful Life 5 Years Credit Debit Balance Credit Balance 15,500 00 Item 30 Purchase Date  Disposal Date  Vendor  Dec 12 Debit 1,125 00 F40 PJ GJ Straight Line Annual Depreciation $ 200 00 Useful Life Credit Debit Balance 11,000 00 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx  Fixed Assets   Subs Ledger $ 2,700 00 4 Years Credit Balance Debit Accumulated Depreciation Credit Debit Balance Credit Balance 11,000 00 225 00 225 00 Sales Journal DEBIT Date 12 12 12 12 12 Description 2 Customer 40 5 Customer 30 10 Customer 40 20 Customer 10 28 Customer 20 Invoice  A R Credit Memo Subsidiary   Acct 1201 1202 1203 1204 1205 C40 C30 C40 C10 C20 Posted Ref CREDIT Accounts Receivable 1200 24,000 00 48,000 00 33,000 00 9,400 00 24,000 00 COGS 4500 12,000 00 28,000 00 18,000 00 6,000 00 12,000 00 138,400 00 76,000 00 Total qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx  Sales Journal Inventory Subsidiary Acct Posted Ref I30 I40 I20 I10 I30 Inventory 1300 12,000 00 28,000 00 18,000 00 6,000 00 12,000 00 Sales 4100 24,000 00 48,000 00 33,000 00 9,400 00 24,000 00 76,000 00 138,400 00 Inventory Purchases Journal DEBIT Date 12 12 Vendor 3 6 Vendor 30 10 Units   Item 10 10 Units   Item 20 5 Units Item 30 10 Units item 40 Vendor 30 15 Units   Item 40 Total Vendor Invoice   Inventory 1300 CREDIT ACCOUNTS PAYABLE   2100 Posted Ref A P Subs  Acct   Amount Posted Ref V456 75,000 00 V30 75,000 00 V457 52,500 00 V30 52,500 00 127,500 00 qattachments d81e818e09f14efe2abedb2963907282bf16b788 xlsx Inventory Purchases Journal 127,500 00 NOVEMBER REPORTS and SCHEDULES Fall 2016 Student Company Bank Reconciliation November 2015 Bank Statement UTD Bank  Cash Operating A C  5551234 Unadjusted Bank Balance, 11 30 15 264,430 07 Add  Deposits in Transit General Ledger 372,137 33 70,000 00 45,000 00 115,000 00 Deduct  Outstanding Checks  Check   2001 2005 2006 2007 2008 2009 $ $ $ $ $ $ Amount 2,000 00 790 00 273 76 1,302 00 304 50 2,652 48 $ (7,322 74) Adjustments  Bank Service Fee Adjusted Balance, 11 30 15 November Reports   Schedules F16  Operating Bank Rec Nov (30 00) $ 372,107 33 $ 372,107 33 $   Student Company Bank Reconciliation November 2015 Bank Statement UTD Bank  Payroll A C  5551235 Unadjusted Bank Balance, 11 30 15 General Ledger 8,264 75 Add  Deposits in Transit 10 00   Deduct  Outstanding Checks  Check   1043 1044 $ $ Amount 3,706 50 4,548 25 $ (8,254 75) Adjustments  Adjusted Balance, 11 30 15 November Reports   Schedules F16  Payroll Bank Rec Nov $ 10 00 $ 10 00 Student Company Accounts Receivable Aging Report November 30, 2015 Customer Customer 10 Customer 20 Customer 30 Customer 40 Total $ $ $ $ $ Total Due 48,000 00 45,000 00 50,000 00 12,000 00 155,000 00 0 30 Days $ $ $ $ 31 60 Days $ 48,000 00 45,000 00 50,000 00 12,000 00 107,000 00 $ November Reports   Schedules F16  AR Aging Rept Nov 48,000 00 $ 61 90 Days     90Days $   Student Company Inventory Reconciliation Report November 30, 2015 Item Item 10 Item 20 Item 30 Item 40 Quantity Total 4 5 7 1 17 $ $ $ $ Cost 1,500 00 1,500 00 2,000 00 3,500 00 November Reports   Schedules F16  Inventory Recon Report Nov $ $ $ $ $ Total 6,000 00 7,500 00 14,000 00 3,500 00 31,000 00 Student Company Fixed Asset Report November 30, 2015 Item Item 10 Item 20 Item 30 Total $ Accumulated Depreciation Net Book Value Cost 200,000 00 $ 15,000 00 $ 185,000 00 15,500 00 500 00 15,000 00 50,000 00 50,000 00 $ 265,500 00 $ 15,500 00 $ 250,000 00 General Ledger Balance A C 1500 Fixed Assets  General Ledger Balance A C 1505 Accumulated Depreciation  Subsidiary Ledger Agrees w General Ledger Accumulated Depreciation   Year to Date Accumulated Depreciation   Beginning of Year Difference   Depreciation Expense for Year $ 265,500 00 $ 15,500 00 $ 15,500 00 $ 15,500 00 $ Note  Agree to account 5600 November Reports   Schedules F16  Fixed Asset Report   Nov Student Company Accounts Payable Aging Report November 30, 2015 Account Vendor 30 Total Due 0 30 Days $ 108,000 00 $ 108,000 00 Total $ 108,000 00 $ 108,000 00 $ November Reports   Schedules F16  AP Recon Report Nov 31 60 Days   61 90 Days $     90Days $   Payroll Taxes Student Company Payroll Summary Date From  1 1 2015 Date To  12 31 2015 Description Gross Wages Federal Wages Federal Taxes Withheld FICA Soc Sec Wages FICA Soc Sec Withheld FICA Medicare Wages FICA Medicare Withheld Net Wages Total 216,000 00 216,000 00 20,760 00 216,000 00 13,392 00 204,000 00 3,132 00 174,216 00 Student Company FUTA Summary Date From  1 1 2015 Date To  12 31 2015 SS  123 34 4567 575 52 7897 575 25 6666 575 12 5555 Employee Employee 10 Employee 20 Employee 30 Employee 40 YTD Wages Taxable Wages 42,000 00 7,000 00 48,000 00 7,000 00 60,000 00 7,000 00 66,000 00 7,000 00 $ 216,000 00 $ 28,000 00 4 Employee(s) Listed  Maximum Taxable Wages Employee  FUTA Tax Rate   FUTA Tax Due $ 0 75000  28,000 210 00 $ 7,000 00 Student Company SUTA Summary   State of Texas Date From  1 1 2015 Date To  12 31 2015 SS  123 34 4567 575 52 7897 575 25 6666 575 12 5555 Employee Employee 10 Employee 20 Employee 30 Employee 40 YTD Wages Taxable Wages 42,000 00 9,000 00 48,000 00 9,000 00 60,000 00 9,000 00 66,000 00 9,000 00 $ 216,000 00 $ 36,000 00 4 Employee(s) Listed  Maximum Taxable Wages Employee  SUTA Tax Rate   SUTA Tax Due $ 2 75000  36,000 990 00 $ 9,000 00 XERO   PART II ACCOUNTING SYSTEMS ANALYSIS   DESIGN Fall 2016 UNDERSTANDING ACCOUNTING PROCESS   ACCOUTANT'S ROLE IN ACCOUNTING SYSTEMS STUDENT INSTRUCTIONS In this exercise, You are the chief accountant working for a firm in its second year of operation  Your firm operated for only a partial year in 2014  In 2015, you anticipate a loss, although in 2016 you will be able to turn a profit because you raised prices during 2015  On December 1, 2015 you went live with a new accounting system, Xero  You have a new clerk working for you who is prone to making mistakes and doesn't know how to fix them  Your job is to do your normal month end accounting duties, get the data into the new accounting system with the clerk's assistance, and find and fix the errors made by the clerk  (Depending on the size of the firm, in practice you might prepare the tax reports in addition to the tasks below  but for this exercise, these are provided for you ) The clerk will be assisting you by doing normal bookkeeping and clerical work, leaving you to do the accounting tasks  Keep in mind that you are human and you make mistakes as well  Some of the mistakes you will find and fix may well be   your own   (i e , the accountant's ) It is December 2015, the 12th month of your fiscal year  Last month you did your normal duties and reconciled the General Ledger (G L)  All subsidiary ledgers correctly tied to the general ledger, all the bank accounts reconciled, and all tax reports agreed with your G L  At November 30, 2015 you had a clean set of books  Any errors you may find are in December  For help with technical terms, you should check with the   Controller

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see attached documents for instructions to do the assignment December Reports and Schedules Fall 2016 Prepared by: You To be Input by the G/L Clerk

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