There are 12 transactions that have occurred during June and need to be recorded in the general ledger. Record each of the transactions on the "Transactions" tab and post to the individual T-Accounts on the "T-Accounts" tab. Compare the ending balance in the T-Accounts to the ending balance in the Trial Balance and resolve any differences. Only edit in the cells shaded in yellow or else the trial balance will show errors. On the transaction tab use the chart of accounts to identify the account numbers and the account title will automatically populate. After you have posted the transactions, create the income statement, statement of retained earnings and balance sheet.

Chart of General Ledger Accounts Account Number 101 111 121 201 301 302 303 304 401 411 421 501 502 511 Account Title Cash Accounts Receivable Inventory Accounts Payable Capital Stock Retained Earnings Dividends Income Summary Sales Sales Discount Sales Returns & Allowances Cost of Goods Sold Purchase Discounts Lost Delivery Expense Adjusting Entries Date Account Number Account Title (1) June 2nd - Purchased 50 accessories @ $10 each on credit. Terms 2/10, n/30. 1 121 Inventory 111 Accounts Receivable (2) June 7th - Sold 3 accessories @ $30 each with a 10% discount. Paid in full upon purchase. 2 101 Cash 411 Sales Discount 401 Sales (3) June 8th - Purchased 25 accessories @ $15 each on credit. Terms 1/10, n/30. 3 121 Inventory 111 Accounts Receivable (4) June 9th - 5 of the 25 accessories purchased on June 8th were damaged and shipped back to the vendor. 4 111 Accounts Receivable 421 Sales Returns & Allowances (5) June 11th - Paid for the June 2nd purchase of accessories. Make sure to review the terms. 5 111 Accounts Receivable 411 Sales Discount 101 Cash (6) June 15th - Sold 5 accessories @ $30 each. Customer paid in full upon purchase. 6 (7) June 15th - Paid $10 UPS shipping charges to ship 5 accessories to customer. 7 (8) June 20th - Received a return of one accessory from customer's June 7th purchase. The return was undamaged an back into inventory and we refunded the Customer's money immediately in cash. 8 (9) Paid for the June 8th purchase of 20 accessories. 9 9 (10) Physical inventory count performed resulted in a count of 60 accessories on hand. 10 Closing Entries Debit Credit Date Close revenue 1 500.00 500.00 n purchase. Close expenses 2 81.00 9.00 90.00 Close Income Summary 3 375.00 375.00 hipped back to the vendor. 75.00 75.00 the terms. 500.00 10.00 490.00 e. hase. The return was undamaged and placed Account Number hand. Account Title Debit Credit a 101 - Cash 201 - Accounts Payable BB BB EB EB 111 - Accounts Receivable BB EB 121 - Inventory BB EB 301 - Capital Stock 401 - Sales BB BB EB EB 302 - Retained Earnings 411 - Sales Discount BB BB EB EB 303 - Dividends 421 - Sales Returns & Allowances BB BB EB EB BB BB EB EB 304 - Income Summary 501 - Cost of Goods Sold 502 - Purchase Discounts Lost BB EB 511 - Delivery Expense BB EB Account Number Account Title 101 Cash 111 Accounts Receivable 121 Inventory 201 Accounts Payable 301 Capital Stock 302 Retained Earnings 303 Dividends 304 Income Summary 401 Sales 411 Sales Discount 421 Sales Returns & Allowances 501 Cost of Goods Sold 502 Purchase Discounts Lost 511 Delivery Expense Post-Closing Trial Balance June 1, 2017 120,000 0 0 0 120,000 0 0 0 0 0 0 0 0 0 All accounts are li Activity December Debit 81 575 875 0 0 0 0 0 0 9 0 0 0 0 All accounts are listed with their NORMAL account balance. Activity December Adjusted Trial Balance Closing Entries Credit June 30, 2017 Debit Credit 490 119,591 0 875 (300) 0 0 (875) 0 0 0 0 0 120,000 0 0 0 0 0 0 0 0 0 0 90 (90) 0 10 (1) 0 75 (75) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Post-Closing Trial Balance June 30, 2017 119,591 (300) (875) 0 120,000 0 0 0 (90) (1) (75) 0 0 0 Income Statement For Month Ended June 30, 2017 Net Sales - COGS Gross Margin Delivery Expense Net Income 0 0 Statement of Retained Earnings For Month Ended June 30, 2017 Retained Earnings, December 1 Add: Net Income Less: Dividends Retained Earnings, December 31 0 Balance Sheet As of June 30, 2017 Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets Total Assets 0 0 Liabilities & Stockholder's Equity Current Liabilities Accounts Payable Total Liabilities 0 Stockholder's Equity Capital Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 0 0 A.The first thing I would do is talk to my supervisor to why he believes this is a good idea. I will let him the consequence n him. I would go over jail time and how he might be destroying many lives if the company has to go out business because of to peruse the idea, I will let him know that I won't be able to assist do this and risk my reputation. If he threatens me then I employee hotline to call and advise them of what's going on. In the long wrong this will not benefit the comp B.Once you start changing the numbers, you will constantly need to do it to the others to come so that no drastic chan Eventually someone will get suspicious and report that something is not right. a. It would be unethical to delay recognition of the loss inventory. The insurance company recovery is still not c and cannot be considered a receivable. This will just give hope in an uncertain situation. b. Going from .08 to 1 to 1.2 to 1 by purchasing mire inventory is impossible. The only way buying inventory on will increase the current ratio is if the ratio is below 1 to 1. If it exceeds 1 to 1 then purchase of additional invento account would decrease the ratio. c. Most bank would be flexible in there scenario the company should be honest and see what the bank can do an ongoing relation