The purpose of this memo is to provide some additional clarity and expectations regarding the upcoming Bookkeeping Project.

Background Adrenaline Junkies Rafting (AJR) is a local provider of whitewater rafting trips.

AJR has been in business for 5 years and is organized as a sole proprietorship. The owner, Bill Flip has asked youto take on the responsibilities of handling the company books.

Project Instructions?

Open T accounts for all of the accounts on the May 31, 20xx trail balance

? Post the June Transactions and adjusting entries to the T accounts

? Prepare an adjusted trial balance after you have posted all the transactions

? Prepare a profit and loss, and balance sheet for the month ending June 30

Notes You will need to create a new asset account for the raft purchase. You do not need to depreciation the old equipment, just the new raft.

See AJR_Instructions.pdf

Bookkeeping Project To: From: Due Date: Topic: BA 211 Students Chris Culver Saturday of week 3 Project Instructions The purpose of this memo is to provide some additional clarity and expectations regarding the upcoming Bookkeeping Project. Background Adrenaline Junkies Rafting (AJR) is a local provider of whitewater rafting trips. AJR has been in business for 5 years and is organized as a sole proprietorship. The owner, Bill Flip has asked you to take on the responsibilities of handling the company books. Project Instructions Open T accounts for all of the accounts on the May 31, 20xx trail balance Post the June Transactions and adjusting entries to the T accounts Prepare an adjusted trial balance after you have posted all the transactions Prepare a profit and loss, and balance sheet for the month ending June 30 Submission Instructions Please prepare the trial balance, profit and loss, and balance sheet in a single word or excel file. Be sure that all three reports have the appropriate 3 line titles. Upload the file to the moodle website. Notes You will need to create a new asset account for the raft purchase. You do not need to depreciation the old equipment, just the new raft. Adrenaline Junkies Rafting (AJR) Transaction Log June 20xx June Transactions 1-Jun Owner contributes an additional $5000 to the business 1-Jun 3-Jun Clients book a float on the Deschutes and pays for services, $350 Clients book two day float on the N. Umpqua and pays for services, $1100 4-Jun AJR buys lunch supplies for $105 6-Jun 6-Jun AJR buys a new 14'3" whitewater raft for $3175, owes retailer by Aug 1. AJR pays $275 for vehicle maintenance 7-Jun Clients book a float on the McKenzie and pay $95 9-Jun 10-Jun AJR receives $350, which is the remaining balance from trip performed in May AJR pays $325 to guides 10-Jun AJR pays $75 to rewire trailer with defective lights 11-Jun AJR takes clients for a float for $325 on the McKenzie; trip was booked by Travel Agent that gets a 10% commission on the 5th of the following month. 12-Jun AJR takes 50 person group for a float, (McKenzie) revenue $2500, but had to rent 2 extra boats at $75 each 12-Jun 14-Jun AJR bought box lunches for 50 person trip, $5 per client, plus additional lunches for 6 guides (56 lunches) Purchased new brochures for $195 15-Jun Owner takes draw of $250 15-Jun 15-Jun AJR pays the transportation fuel bill for the first half of the month, $295 Guide fails to plug in trailer wires and they are destroyed in drive home, $75 to rewire trailer 17-Jun Sends one boat and guide to Deschutes for a fishing trip. Client will pay us $300 next month. 18-Jun 19-Jun Clients pay $625 for McKenzie trip Clients pay $1250 for two day N. Umpqua trip 19-Jun AJR pays $165 for food for N. Umpqua tip 19-Jun 19-Jun In effort to save money, guides overload trailer thus breaking an axle - $215 for repair Purchase t-shirts with company logo for guides, $250 - (otherwise they wear inappropriate shirts) 22-Jun Clients pay $235 for a 1/2 day McKenzie float 25-Jun 30-Jun AJR pays guides $625 Non-Profit organization goes on a McKenzie float, but for budgetary reasons will pay $435 by 15th of July 30-Jun Fuel bill of $310 paid for second half of the month 30-Jun Owner takes draw of $325 Adjusting Entries 30-Jun AJR has an arrangement with local shuttle driver to move vehicles while boats are on the river. The charge is $25 per vehicle moved, due by 10th of following month. A count of the shuttles shows 11 shuttles for June. (11x25) 30-Jun The newly acquired 14'3 raft has an estimated salvage of $775 and a 48 month useful life. 30-Jun The company owes a 3% special use permit fee to the US Forest Service for all revenue generated on the N. Umpqua and Deschutes. Adrenaline Junkies Rafting (AJR) Trail Balance May 31, 20xx Debit Cash $ Accounts Receivable 16 foot Cataraft $ $ Credit 4,100 620 2,700 Accumulated Depreciation Cataraft $ 1,200 $ 2,040 $ 325 Accumulated Depreciation Van $ 3,500 Accounts Payable US Forest Service Payable $ $ 405 530 $ 12,000 $ 20,000 15'6 Raft Accumulated Depreciation 15'6 Raft $ 4,080 Trailer Accumulated Depreciation Trailer Van $ 1,000 $ 7,500 Shuttles Payable Commission Payable Capital Owners Draw Mckenzie River Revenue Deschutes River Revenue N. Umpqua River Revenue River Lunch Expense River Trip Expense Maintenance and Repair Expense Guide Pay Expense Rental Expense Commission Expense Marketing Expense Gas and Fuel Expense Depreciation Expense Totals $ 20,000