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Source Document All entries are cash unless otherwise indicated. Chriss Kentucky Moonshine -- even though I might not quite be on the right side of

Source Document

All entries are cash unless otherwise indicated.

Chriss Kentucky Moonshine -- even though I might not quite be on the right side of the law, I am a good bookkeeper.

You are to journalize this, then convert it to a ledger, and then do a trial balance

March

1

Started business by investing $20,000

2

Borrowed $25,000 from the Hazzard County Mafia to be paid back with vigorish (which is interest on the loan)

3

Bought the General Lee ( a 69 Charger) for $5,000 from Bo Duke

4

Bought gas and new tires for the car $1000

5

Hire Crazy Cooter Davenport to tune the General Lee $2,000

6

Invested in sour mash and all the fixins to make moonshine. $5000 (will make 500 servings)

6

Bought 500 mason jars with lids for $500

7

Bought an old still and fixed it up $10,000 will pay Uncle Jessie in a few weeks

8

Pay Luke and Daisy $1000 each to help mix up the first batch.

9

Testing out the General Lee and Sheriff Roscoe P Coltrane gives me a speeding ticket - $250

10

Sell my first batch of Kentucky Lightning -- 300 jars for $30 each

10

Deputy Enos Straight witnesses the sale so I pay him a bribe of $200

11

The Hazzard Mafia wants their first payment. They give me a choice: break my legs or give them $2,000 towards the $25,000 owed plus $2,000 vig. I pay them the $4000

12

Word has gotten around about how good Chriss Kentucky Moonshine is so Boss Hogg buys all of my remaining stock of 200 jars for $40 each. He pays me half in cash and the rest he will pay in a few days

13

I buy another batch of fixins for $5000 and 500 jars for $500

14

Flash eats up $100 of fixins and barfs on 20 jars which I throw away

15

Pay Bo $1000 to drive the General Lee, and give 30 jars of shine to Daisy to help mix up the batch

16

Pay Enos another bribe of $250

17

Sell 400 jars to the Balladeer Waylon Jennings for $50 each.

18

Pay the KY Mafia another $5000. $3000 on the loan and $2,000 vigorish

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