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User Financial Accounting BMBA 1 4 0 Assignment # 2 Name ( first and last name ) : _ _ _ _ _ _ _
User
Financial Accounting BMBA Assignment #
Name first and last name:
PART I JOURNAL ENTRIES points
The following ledger accounts are used by Grant Girls Cookie Company in their ledger
Instructions: Record the appropriate entries for the month of October using the chart of accounts and following transactions.
Cash Salaries Payable Cookie Revenue
Accounts Receivable Accounts Payable Equipment Expense
Supplies Unearned Cookie Revenue Advertising Expense
Prepaid Salaries Notes Payable Supplies Expense
Prepaid Advertising G Grant, Capital Rent Expense
Equipment G Grant, Drawings Salaries Expense
Transactions:
October G Grant invested $ in cash and $ in supplies into the business.
October Rent for the month of October was paid in cash, totalling $
Cookies worth $ were sold to a customer on account on October
Future advertisements for November were purchased for $ cash on October
October G Grant purchased more equipment totalling $ but cash was needed for operational expenses, signed a note payable to ensure required equipment was received.
October one of G Grants siblings worked for the weekend at the local farmers market, G Grant agreed to pay $ a day for the weekend in cash.
Additional ingredients were purchased on account from a local food distributer totalling $ payment terms were net from purchase date of October
G Grant was late in totaling receipts, additional sales up until October totalled $ half was received in cash and half is still receivable.
A customer purchased $ worth cookies for the first weekend in November on October payment was received in full on the day of the order.
On October G Grant withdrew $ in cash.
Entry # Date Account Number Account Name Debit or Credit Amount
Oct. Cash DR
Supplies DR
G Grant, Capital CR
PART II Trial Balance points
Answers to Part II:
Instructions: Prepare a Trial balance using the chart of accounts provided above and the journal entries prepared. Please use the following template for your final answer.
Note: for accounts with multiple entries please include a T Account to show your work, T Account templates are included below. Part marks may be awarded if support is available.
T Accounts:
Cash
DR CR
Total:
Supplies
DR CR
Total:
Accounts Receivable
DR CR
Total:
G Grant Capital
DR CR
Total:
Trial Balance:
Account Number Account Name Debit Balance Credit Balance
Total Balance
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