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Towne Cleaners Trial Balance November 30 Debit Credit 101 cash $1,645.00 102 change feud 100.00 105 Petty cash Fund 50.00 110 Accounts receivable 430.00 115

Towne Cleaners Trial Balance

November 30

Debit Credit

101 cash $1,645.00

102 change feud 100.00

105 Petty cash Fund 50.00

110 Accounts receivable 430.00

115 office supplies 68.00

120 Cleaning supplies 83.00

125 prepaid insurance 404.00

150 Delivery Van 18,000.00

151 Accumulated Depreciation, Delivery Van $ 8,750.00

160 Furniture and fixtures 6,000

161 Accumulated Depreciation, Furniture and fixtures 3,935.00

165 cleaning equiptment 24,000.00

166 Accumulated Depreciation, cleaning equiptment 9,788.00

170 Office equiptment 4,000.00

171 Accumulated depreciation, office equiptment 1,462.00

201 Accounts payable 610.00

210 Wages payable 0

215 Employees federal income tax payable 310.00

216 Employees state income payable 77.50

220 FICA social security payable 621.26

225 FICA Medicare Tax payable 145.29

230 Employees Medical Insurance payable 120.00

235 Federal unemployment tax payable 4.50

240 State unemployment tax payable 30.25

245 note payable, delivery van 4,080.00

301 patricia Towne, capital 22,850.00

350 Patricia Towne, capital 27,200.00

360 Cash short and over 84.00

370 Income summary 0 0

401 Cleaning service income 86,706.00

402 Alterations income 15,444.00

410 Tuxedo Rental Income 14,230.00

411 Interest Income 39.97

501 Wages Expense 58,431.00

505 Payroll tax expense 6,182.00

508 Rent expense building 6,600.00

510 Utilities expense 2,580.00

515 Advertising Expense 468.00

520 Cleaning equiptment repair expense 592.00

521 Office equiptment repair expense 384.00

530 Contributions Expense 120.00

535 Insurance Expense 660.00

555 Depreciation expense, delivery van 2,750.00

560 depreciation, Furniture and fixtures 935.00

565 Depreciation expense,cleaning equip. 2,285.00

570 Depreciation expense, officequiptment 465.00

576 Delivey expense 72.00

577 Delivery van operating expense 1,420.00

580 Interest expense 648.00

590 Office supplies expense 302.00

591 Cleaning Expense 2,176.00

599 Miscellaneous expense 69.00

$ 169, 203.77 $169,203.77

Towne Cleaners

Chart of accounts

No. Account Name No. Account Name

ASSETS OWNERS EQUITY

101 Cash 301 Patricia Towne, capital

350 Patricia Towne, capital

360 Cash short and over

370 Income summary

REVENUE

102 change feud

401 Cleaning service income

402 Alterations income

410 Tuxedo Rental Income

411 Interest Income

EXPENSES

501 Wages Expense

505 Payroll tax expense

508 Rent expense building

510 Utilities expense

515 Advertising Expense

520 Cleaning equiptment repair expense

521 Office equiptment repair expense

530 Contributions Expense

535 Insurance Expense

555 Depreciation expense, delivery van

560 depreciation, Furniture and fixtures

565 Depreciation expense,cleaning equip.

570 Depreciation expense, officequiptment

576 Delivey expense

577 Delivery van operating expense

580 Interest expense

590 Office supplies expense

591 Cleaning Expense

599 Miscellaneous expense

105 Petty cash Fund

110 Accounts receivable

115 office supplies

120 Cleaning supplies

125 prepaid insurance

150 Delivery Van

151 Accumulated Depreciation, Delivery Van

160 Furniture and fixtures

161 Accumulated Depreciation, Furniture and fixtures

165 cleaning equiptment

166 Accumulated Depreciation, cleaning equiptment

170 Office equiptment

171 Accumulated depreciation, office equiotment

LIABILITIES

201 Accounts payable

210 Wages payable

215 Employees federal income tax payable

216 Employees state income payable

220 FICA social security payable

225 FICA Medicare Tax payable

230 Employees Medical Insurance payable

235 Federal unemployment tax payable

240 State unemployment tax payable

245 note payable, delivery van

Towne cleaners

Date

11/30 To record Trial Balance amounts from page 4 in the individual General Ledger accounts

12/01 Receive invoice from harbor cleaning supplies, $125

12/02 Receive and pay for office typewriter repairs by johns typewriter for $35, check #321

12/03 Receive invoice from the Chronicle newspaper advertising ,$42

12/04 Contribute $15 to Ventura Holiday Fund, ( CONTRIBUTIONS EXPENSE) check #322

12/05 paid $100 to Harbor cleaning supplies for supplies purchased on 11/18, check #323

12/05 Deposit weekly receipts for:

-Cleaning services $1,648.00

-alterations $226.00

-Tuxedos $160.00

12/06 receive and deposit $265 from thai restaurant for November linen cleaning services previously billed

12/06 Receive invoice from California Power for November gas and electricity , $188

12/06 Owner withdrawal of $400 for personal use, check #324

12/08 Purchased office supplies on account from city stationers, $38

12/09 Receive and pay invoice from Thrifty Gasoline for November delivery van operating costs, $114, check #325

12/10 Petty cash disbursement of $5.75 for delivery , Voucher #90

12/11 Receive and deposit $165 from Sandra gallager for alterations previously billed

12/11 Make partial payment on 11/22 invoice to Moores Office Equiptment for prior purchase

on account , $175, check # 326

12/12 Deposit weekly receipts for

-Cleaning services $1726.00

- Alterations $318.00

-Tuxedo rentals $85.00

Note : Above amounts represented cash register totals. The actual deposit was for only $2120, cash on hand , thus there must be a shortage.

12/13 Owner withdrawal of $500 for personal use , check #327

12/13 Remit federal payroll taxes ( income taxes and FICA taxes ) in the amount of the credit balances in ledgers for November payrolls. Check #328 PAYABLE TO AMERICA bank west

12/15 Remit monthly note payment on delivery van of $445 ( $400 principal; $55 interest ) to Car Cal Credit , check #329

12/15 Prepare payroll Register and Employees Earnings Records for the two week period ended December 12 and journalize entry

Name Prior Cumalitive

1.$6,600.00

2.$8,256.00

3.$19,825.00

4.$23,750.00

1.B.Jones

2.K.Smith

3.J.Perry

4.W.Johnson

Hours

1.40

2.47

3.82

4.80

pay rate

1.$7.00

2.$8.00

3.$10.00

4.$12.50

Medical Insurance

$15.00

$15.00

$15.00

$15.00

all hours worked in excess of 40 per week ( or 80 in a two week period) are paid at the rate of 1..5 times the normal hourly rate. ( Assume any hours worked less than 80 do not qualify for over time pay)

Unemployment taxes are computed on the basis of .8% of the first $7,000 in earnings (Federal); 5.4% of the first $7,000 in earnings (state)

FICA taxes are computed on the basis of 6.2% of the first $55,000 in earnings for social security; 1.45% of all earnings for medicare

Federal Income Taxes should be determined by suing the material status and number of withholding allowances information on the employees individual earnings records and the federal income tax withholding table

State income taxes are based upon 25 % of the federal income tax

Payroll is paid through a special payroll bank account

12/15 Compute and record employers payroll tax expense, based on above information

12/16 Record transfer of funds from regular bank account to special payroll bank account for payment of employees, check #330

12/16 Petty cash disbursement for office supplies, $4.20, voucher #91

12/16 Receive and pay invoice from carters repairs services for $48 for repair of cleaning equiptment , check #331

12/17 Pay balance of 11/22 Invoice to Moores office equiptment for prior purchase on account $55, check #332

12/18 invoice Thai Restaurant for linen cleaning services for first half of December $140

12/18 Pay 12/03 invoices to the chronicle for newspaper advertising $42, check # 333

12/19 Deposit weekly receipts:

-Cleaning services $1,910.00

-Alterations $273.00

-Tuxedo Rentals $230.00

12/19 Purchase cleaning supplies on account from harbor cleaning supplies for $106

12/20 Owner withdrawl of $600 for personal use, check 334

12/22 Receive and pay November telephone bill of $46 from American Telephone, check #335

12/23 Receive and pay invoices from samniis Tire for $19 for services on delivery van check #336

12/24 rent tuxedos on account to Tri County Choral for holiday presentation, $ 765

12/24 Petty cash contribution of $8 to big Brothers, voucher #93

12/24 Deposit of weekly receipts for :

-Cleaning services $1,240.00

-Alterations $286.00

-Tuxedo rentals $ 425.00

12/26 Pay 12/01 invoice to Harbor cleaning supplies , $125, check #337

12/26 pay 12/08 invoice to city stationers, $38, check #338

12/27 pay monthly rent to J.D. Smith , co. for building space , $600, check #339

12/28 receive annual insurance premium on delivery van from insurers international for $340

12/28 Receive and deposit $140 from Thai restaurant in payment of invoice dated 12/18

12/29 Prepare payroll register and employees individual earnings records for the two week pay period ended December 26 and journalize it

Name: pay rate med insu

B. Jones (Bring forward 44 hours 7.00 15.00

K.smith From employees earning records) 46 hours 8.00 15.00

J. Perry 84 hrs 10.00 15.00

w. Johnson 80 hrs 12.50 15.00

Compute taxable earnings, FICA taxes and federal and state income Tax deductions based upon the information provided with the 12/12 payroll (Prepared on 12/15)

12/29 Compute and record employers payroll tax expense based upon the tax rate information provided with the 12/12 payroll and above earnings

12/30 Record the transfer of funds from the regular bank account to the special payroll bank account for payment to employees, check #340

12/30 Petty cash disbursement of $9.45 for dry cleaning solution , voucher #94

12/31 Owner withdrawal of $800 for personal use, check #341

12/31 Reimburse petty cash (K. smith ) for transactions record in the pretty cash payments record , check #343

12/31 Deposit final receipts for December

-Cleaning services $2,106.00

- Alterations $487.00

-Tuxedo Rentals $ 234.00

12/31 Invoice Thai Restaurant for linen cleaning services for last half of December $159

12/31 Complete bank reconciliation based upon the information provided journalize and post the appropriate entries

Hello I needed help journalizing the entires to the general journal and the petty cash is to be recored not on the genera; journal but on a seperate journal . This assignment is due tommorow by the end of the day ! i pasted the trial balance and the chart of accounts if needed .

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