Chart of Accounts Acct. No. 101 122 142 144 145 146 161 171 171.1 181 181.1 182 182.1 Assets Cash Accounts Receivable Office Supplies Food Supplies Prepaid Insurance Prepaid Subscriptions Land Buildings Accum. Depr.- Buildings Fishing Boats Accum. Depr. - Fishing Boats Surround Sound System Accum. Depr. - Surround Sound Sys Big Screen TV Accum. Depr.. Big Screen TV 183 183.1 202 219 Liabilities Accounts Payable Wages Payable 311 312 313 Owner's Equity Bob Night, Capital Bob Night, Drawing Incomo Summary 401 404 511 512 521 523 524 525 533 535 536 537 540 541 542 543 546 548 Revenues Registration Fees Vending Commission Revenue Expenses Wages Expense Advertising Expense Rent Expense Office Supplies Expense Food Supplies Expense Phone Expense Utilities Expense Insurance Expense Postage Expense Repair Expense Depreciation Expense - Buildings Depreciation Expense - Surround Sound Sys. Depreciation Expense - Fishing Boats Depreciation Expense - Big Screen TV Satellite Programming Exp Subscriptions Expense Amount 200 3.600 8,000 Date Description May in order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Anack wil install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made of the beginning of the ach month Night received a check for the estimated commission on sales for May 2 Night paid for a surround sound system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful le of five years and no savage value 2 Night paid for a big screen TV with digital satellite for the guest lounge. The TV cost $8,000 and has an estimated useful life of eight years, and has a salvage value of $800 2 Paid for May's programming on the new digital satelite system 3 Nights office manager retumdomice supplies to Gordon Office Supply Night received a reduction on the account 3Deposited registration fees Paid rentforlodge and campgrounds for month of May. 3 in preparation for the purchase of a neartay Campground, Night invested assitional money in the business 4 Paid Gordon Olice Supply on account. 4 Purchased assets of a competing business and paid cash for the following: land, $100,000, lodge $530,000 fishing boats $9.000 Th lodge has a remaining useful life of 50 years and a salvage value of $50,000. The boats have remaining lives of five years and no salvage value 100 52.700 40000 600.000 400 639,000 5 Paid May's insurance premium for the new ca. 5 Purchase food supplies from Acme Super Market on account 5 Purchased office supplies from Gordon Office Supplies on account 7Night paid $40 each for one-year subscriptions to Fishing Bustrated. Fishing Unlimited and Fish Master. The magazines are published monthly 10 Deposited registration fees 13 Paid wages to fishing guides, includes 3500 earned in April 14 Agost became and was unable to stay for the entire week. A rotund check was issued 1,000 2950 1200 120 62.750 30.000 57000 37000 16,400 6400 2500 850 30.000 17 Deposted registration fees 19 Purchase food supplies from Acme Super Market on account 27 Deposted registration fees 23 Paid for May's advertising spots on National Sports Talk Radio 25 Paid repares for damaged boat 27 Paid wages to fishing guides 28 Paid for May's advertising spots on billboards 29 Purchase food supplies from Acme Super Market on account 30 Padites 30 Paid phone bit. 30 Paid Acme Super Market on account 37 Bob Night withdrew cash for personal use. 1.800 3.300 1,800 47.350 7.500 ADJUSTMENT INFORMATION FOR THE END OF MAY IS PROVIDED BELOW. (a Total vending machine sales were $2,300 for the month of May. A 10% commission is eamed on these sales. Don't forget to subtract the estimated amount received on the 1st) (bStraight line depreciation is used for the 10 bots purchase on April 2 for $60,000. The useful ife is Five years and there is no salvage value. A full month's depreciation was taken in April. Straight line depreciation is also used for the two boats purchased in May. Make one adjusting entry for al depreciation on the boats (C) Straight line depreciation is used to depreciate the surround sound system Straight line depreciation is used to depreciate the big screen TV (eStraight line depreciation is used to depreciate the building purchased in May (On April 2. Nightpaid $9.000 for insurance during the six-month camping season. May's portion of this premium was used up during the month. (9) Night received his May issues of Fisting strated. Fishing Unlimited, and Fish Master (holice supplies remaining on hand. 3550 Food supplies remaining on hand, $5825 Wages eamed, but not yet paid, at the end of May, $6,000 GENERAL LEDGER NOCOU C 101 SANCE CREDIT POSE RE DATE DEBIT CREDE 303 May 0 ACCORD Account POST DATE DER RE OLDET DET May NOIR 192 INT CHEN 0 wy ACCOUNT FOOD 142 RA TERIT KO DATE ra My CRIT TE 0 Prepadne DATE DERI CREDE POST RE 0 May To 148 POSE BEBI NOR OWTH e My WE DER CHE Me Bud 171 ACCO DATE 2 May F CREDIT PLANE REST Sumound Sound System HEN POST AOC WY le wwy Rerum ponton Burgund Sound DATE HE POOL BE Me NO DATE Born TV ITEM BARAT M 180 MODER DATE he IN counted Desreciation. Sen TEN BLAME POST 25 ARRIS NOBEL DATE DO Nay 0 28 NE DATE wa WASP ITEM HO CH 20 DATE ITEM 020 May 12 DATE May Froome Summary NERE DATE Registratione MORE DATE POST REF CHO ACCO Vanding Commission et Chart of Accounts Acct. No. 101 122 142 144 145 146 161 171 171.1 181 181.1 182 182.1 Assets Cash Accounts Receivable Office Supplies Food Supplies Prepaid Insurance Prepaid Subscriptions Land Buildings Accum. Depr.- Buildings Fishing Boats Accum. Depr. - Fishing Boats Surround Sound System Accum. Depr. - Surround Sound Sys Big Screen TV Accum. Depr.. Big Screen TV 183 183.1 202 219 Liabilities Accounts Payable Wages Payable 311 312 313 Owner's Equity Bob Night, Capital Bob Night, Drawing Incomo Summary 401 404 511 512 521 523 524 525 533 535 536 537 540 541 542 543 546 548 Revenues Registration Fees Vending Commission Revenue Expenses Wages Expense Advertising Expense Rent Expense Office Supplies Expense Food Supplies Expense Phone Expense Utilities Expense Insurance Expense Postage Expense Repair Expense Depreciation Expense - Buildings Depreciation Expense - Surround Sound Sys. Depreciation Expense - Fishing Boats Depreciation Expense - Big Screen TV Satellite Programming Exp Subscriptions Expense Amount 200 3.600 8,000 Date Description May in order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Anack wil install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made of the beginning of the ach month Night received a check for the estimated commission on sales for May 2 Night paid for a surround sound system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful le of five years and no savage value 2 Night paid for a big screen TV with digital satellite for the guest lounge. The TV cost $8,000 and has an estimated useful life of eight years, and has a salvage value of $800 2 Paid for May's programming on the new digital satelite system 3 Nights office manager retumdomice supplies to Gordon Office Supply Night received a reduction on the account 3Deposited registration fees Paid rentforlodge and campgrounds for month of May. 3 in preparation for the purchase of a neartay Campground, Night invested assitional money in the business 4 Paid Gordon Olice Supply on account. 4 Purchased assets of a competing business and paid cash for the following: land, $100,000, lodge $530,000 fishing boats $9.000 Th lodge has a remaining useful life of 50 years and a salvage value of $50,000. The boats have remaining lives of five years and no salvage value 100 52.700 40000 600.000 400 639,000 5 Paid May's insurance premium for the new ca. 5 Purchase food supplies from Acme Super Market on account 5 Purchased office supplies from Gordon Office Supplies on account 7Night paid $40 each for one-year subscriptions to Fishing Bustrated. Fishing Unlimited and Fish Master. The magazines are published monthly 10 Deposited registration fees 13 Paid wages to fishing guides, includes 3500 earned in April 14 Agost became and was unable to stay for the entire week. A rotund check was issued 1,000 2950 1200 120 62.750 30.000 57000 37000 16,400 6400 2500 850 30.000 17 Deposted registration fees 19 Purchase food supplies from Acme Super Market on account 27 Deposted registration fees 23 Paid for May's advertising spots on National Sports Talk Radio 25 Paid repares for damaged boat 27 Paid wages to fishing guides 28 Paid for May's advertising spots on billboards 29 Purchase food supplies from Acme Super Market on account 30 Padites 30 Paid phone bit. 30 Paid Acme Super Market on account 37 Bob Night withdrew cash for personal use. 1.800 3.300 1,800 47.350 7.500 ADJUSTMENT INFORMATION FOR THE END OF MAY IS PROVIDED BELOW. (a Total vending machine sales were $2,300 for the month of May. A 10% commission is eamed on these sales. Don't forget to subtract the estimated amount received on the 1st) (bStraight line depreciation is used for the 10 bots purchase on April 2 for $60,000. The useful ife is Five years and there is no salvage value. A full month's depreciation was taken in April. Straight line depreciation is also used for the two boats purchased in May. Make one adjusting entry for al depreciation on the boats (C) Straight line depreciation is used to depreciate the surround sound system Straight line depreciation is used to depreciate the big screen TV (eStraight line depreciation is used to depreciate the building purchased in May (On April 2. Nightpaid $9.000 for insurance during the six-month camping season. May's portion of this premium was used up during the month. (9) Night received his May issues of Fisting strated. Fishing Unlimited, and Fish Master (holice supplies remaining on hand. 3550 Food supplies remaining on hand, $5825 Wages eamed, but not yet paid, at the end of May, $6,000 GENERAL LEDGER NOCOU C 101 SANCE CREDIT POSE RE DATE DEBIT CREDE 303 May 0 ACCORD Account POST DATE DER RE OLDET DET May NOIR 192 INT CHEN 0 wy ACCOUNT FOOD 142 RA TERIT KO DATE ra My CRIT TE 0 Prepadne DATE DERI CREDE POST RE 0 May To 148 POSE BEBI NOR OWTH e My WE DER CHE Me Bud 171 ACCO DATE 2 May F CREDIT PLANE REST Sumound Sound System HEN POST AOC WY le wwy Rerum ponton Burgund Sound DATE HE POOL BE Me NO DATE Born TV ITEM BARAT M 180 MODER DATE he IN counted Desreciation. Sen TEN BLAME POST 25 ARRIS NOBEL DATE DO Nay 0 28 NE DATE wa WASP ITEM HO CH 20 DATE ITEM 020 May 12 DATE May Froome Summary NERE DATE Registratione MORE DATE POST REF CHO ACCO Vanding Commission et