You will be provided with the year special journals for their company. You will be process for posting special journals to the ledgers. This is a critical first step and will serve as the starting point for the project. You will be required to prepared a pre-adjusted trial balance, record and post the end of the year adjusting journal entries, prepare an adjusted trial balance, the first year income statement and balance sheet, and the closing entries On January 1, 20x1, Alison the Architect opened the doors to her new business. She issued Shares of the company to some family members who were nice enough to invest in her entrepreneur dream. You are a friend and have offered to provide accounting services to her at reduced You have taught her how to produce the sales journal, cash receipts journal, burchases journal and cash disbursements journal We are using a manual accounting system. Maintain your general ledger in pencil The Board of Directors declared dividends as follows Date Dividend per Share 30 Jun 5 0.03 30-Octs 0.03 Payment Date 15- 15-Nov Date Sales Journal for 20X1 Customer Number 15-Jan Customer 1001 11-Feb Customer 1002 15-Mar Customer 1003 18 Apr Customer 1004 7-May Customer 1005 9-Jun Customer 1006 16 Jul Customer 1007 4. Aug Customer 1008 13-Sep Customer 1009 11-Oct Customer 1010 16-Now Customer 1011 7-Dec Customer 1012 Total 8,360 11210 12,880 12,200 11,970 11,620 3.710 7,960 13.450 9.040 12.120 13.920 128.440 Cash Receipts for 20x1 Accounts 11-Oct Customer 1010 16-Nov Customer 1011 7-Dec Customer 1012 Total 9,040 12,120 13,920 128,440 0102 40 Cash Receipts for 20X1 Accounts Receivable Other 319,600 Issuance of s 2,900 1,700 3.900 3,760 2,200 4,500 5,110 X Date Customer Number Cash 1-Jan Stock broker 319,600 14-Feb Customer 1001 2,900 1-Mar Customer 1001 1,700 13-Mar Customer 1002 3,900 22-Mar Customer 1001 3,760 28-Mar Customer 1002 2,200 14-Apr Customer 1003 4,500 18-Apr Customer 1002 5,110 29-Apr Customer 1003 2,600 18-May Customer 1004 4,300 20-May Customer 1003 5,780 2-Jun Customer 1004 2,400 6-Jun Customer 1005 4,200 21-Jun Customer 1005 2,400 23-Jun Customer 1004 5,500 9-Jul Customer 1006 4,100 12-Jul Customer 1005 5,370 24-Jul. Customer 1006 2,300 14-Aug Customer 1006 5,220 15-Aug Customer 1007 1,300 30-Aug Customer 1007 700 3-Sep Customer 1008 2,800 18-Sep Customer 1008 1,600 20-Sep Customer 1007 1,710 9-Oct Customer 1008 3,560 13-Oct Customer 1009 4,700 28-Oct Customer 1009 2,700 10-Nov Customer 1010 3,200 18-Nov Customer 1009 6,050 25-Nov Customer 1010 1,800 16-Dec Customer 1011 4,200 16-Dec Customer 1010 4,040 31-Dec Customer 1011 2,400 Total 428,600 TO 68,000 Number of $1.00 par value shares issued DR 2,600 X 4,300 X 5,780 X 2,400 4,200 X 2,400 5,500 4,100 5,370 2,300 5,220 X 1,300 700X 2,800 1,600 1,710 3,560 4,700 2,700 XXX 3,200 6,050 X 1,800 4,200 4,040 319,600 2,400 109,000 102 Page 1 20X1 Acct 306 Accounting Cycle Project v 4.xlsm Purchases Journal for 20X1 Date Vendor Kitchen Supplies* Due Date 380 14-Feb 15-Jan Costco 810 27-Feb 28-Jan Costco 15-Feb Costco 1,040 17-Mar 1-Mar Costco 1,080 31-Mar 16-Mar Costco 420 15-Apr 2-Apr Costco 300 2-May 19-Apr Costco 160 19-May 10-May Costco 140 9-Jun 15-Jun Costco 680 15-Jul 16-Jul Costco 530 15-Aug 3-Aug Costco 400 2-Sep 1-Sep Costco 920 1-Oct 15-Oct Costco 14-Nov 14-Nov Costco 320 14-Dec 9-Dec Costco 400 8-Jan 18-Dec Costco 260 17-Jan Total 8,810 507 zol *Classify the purchases of kitchen supplies as kitchen supplies expense 970 All purchase On Kitchen supplies Acct. exp Date Cash Disbursements Journal for 20X1 Accts Pay Salaries Rent 1,220 Utilities Phone Suppliest 105 insurance Insurance Computer 380 3.030 Cash 1,220 34,500 1.840 3.010 2,400 960 2,380 380 3.030 1,680 1,220 3.80 810 3 80 3,030 1,680 1,220 1,040 1,080 380 3,030 1,680 1,220 1,520 420 380 3,030 1,680 1,220 300 160 380 3,030 1,680 1,220 1,220 FOXX Check Number Vendor 1-Jan 1.001 Lucy Landlord 2-Jan 1,002 Car Company 3-Jan 1,003 Cheap Office Supplies 5-Jan 1,004 Insurance for office 6-Jan 1.005 Insurance for automobile*** 7-Jan 1,006 Computer equipment 8-Jan 1,007 Copier 30-Jan 1,008 Big Phone Company 31-Jan 1.009 Alison the Architect 31 Jan 1,010 Huge Utility Company 1-Feb 1,011 Lucy Landlord 14-Feb 1,012 Costco Visa 27-Feb 1,013 Costco Visa 28-Feb 1,014 Big Phone Company 28-Feb 1,015 Alison the Architect 28-Feb 1,016 Huge Utility Company 2-Mar 1,017 Lucy Landlord 17-Mar 1,018 Costco Visa 31-Mar 1,019 Costco Visa 31-Mar 1,020 Big Phone Company 31-Mar 1.021 Alison the Architect 31-Mar 1,022 Huge Utility Company 1-Apr 1,023 Lucy Landlord 15-Apr 1,024 Internal Revenue Service 15-Apr 1,025 Costco Visa 30-Apr 1,026 Big Phone Company 30-Apr 1,027 Alison the Architect 30-Apr 1,028 Huge Utility Company 1-May 1,029 Lucy Landlord 2-May 1,030 Costco Visa 19-May 1.031 Costco Visa 30-May 1,032 Big Phone Company 30-Mayl 1.033 Alison the Architect 1.034 Huge Utility Company 30-May 1-Jun 9-Jun 1,036 Costco Visa 30-Jun 30 Jun 30 Jun 1,039 Huge Utility Company 1.080 380 3.030 1,520 Estimated taxes 202 420 380 1,220 300 160 3,030 1.680 1,035 Lucy Landlord 380 3,030 1,037 Big Phone Company 1,038 Alison the Architect 1.680 I 2,040 Dividends * 3,030 380 3,030 1,680 1.220 680 2,040 380 3,030 1,680 1.220 3,150 530 2,160 1-Jul 15-Jul 15-Jul 30-Jull 30-Jul 30-Jul 1-Aug 1.680 1,220 3.150 1,040 Lucy Landlord 1,041 Costco Visa 1,042 Shareholders 1,043 Big Phone Company 1,044 Alison the Architect 1,045 Huge Utility Company 1,046 Lucy Landlord 1.047 Insurance for office** 1,048 Costco Visa 1,049 Cheap Office Supplies insurance 2,160 530 1-Aug 15-Aug! 12-Aug Debit Czech Page 3 20x1 Salaries Rent Utilities Phone Supplies Other 3,030 2,560 Insurance los 1,520 Estimated taxes 202 3.030 1,680 Date 30-Aug 30 Aug 30-Aug 1-Sep 1-Sep 2-Sep 15-Sep 30-Sep 30-Sep 30-Sep 1-Oct 1-Oct 30-Oct 30-Oct 30-Oct 1-Nov 14-Nov 15-Nov 15-Nov 30-Nov 30-Nov 30-Nov 1-Dec 14-Dec 30 Dec 30-Dec 30-Dec 380 P9929937882333333333333333 3,030 1.680 1,220 Check Number Vendor 1,050 Cash Big Phone Company Accts Pay 380 1,051 Alison the Architect 3,030 1.052 Huge Utility Company 1,680 1,053 Lucy Landlord 1.220 1,054 Insurance for car*** 2,560 1,055 Costco Visa 400 1,056 Internal Revenue Service 400 1,520 1,057 Big Phone Company 380 1,058 Alison the Architect 3.02.0 1,059 Huge Utility Company 1,680 1,060 Lucy Landlord 1,220 1,061 | Costco Visa 920 920 1,062 Big Phone Company 380 1,063 Alison the Architect 3,030 1,064 Huge Utility Company 1,680 1,065 lucy Landlord 1,220 1,066 Costco Visa 970 1,067 Cheap Office Supplies 2.050 1,068 Shareholders 2,040 1.069 Bie Phone Company 380 1,070 Alison the Architect 3,030 1,071 Huge Utility Company 1.680 1,072 Lucy Landlord 1,220 1,073 Costco Visa 320 320 380 1,074 Big Phone Company 3, 030 3 1,075 Alison the Architect 1,680 L 1,076 Huge Utility Company 146,000 8,150 Total 01 201 Classify supplies as office supplies on hand * Insurance for office is a prepayment for 7 months Insurance for automobile is prepayment for 8 months Useful lives - Straight line depreciation, no salvage value Useful life Automobile Computer Copier 2050 2040 Dividends 304 2.030 ,030 56,080 36,360 14,640 1.680 20,160 505 4,560 503 6,050 103 other post 910 620 1.210 use -d For enteries cash disbursement - - All Information for adjustments Ending office supplies on hand Ending kitchen supplies on hand Accrue professional service costs (accoutning) Adjust prepaid insurance Record depreciation Tax rate Dividends per share declared December 31 20% $ 0.06 You will be provided with the year special journals for their company. You will be process for posting special journals to the ledgers. This is a critical first step and will serve as the starting point for the project. You will be required to prepared a pre-adjusted trial balance, record and post the end of the year adjusting journal entries, prepare an adjusted trial balance, the first year income statement and balance sheet, and the closing entries On January 1, 20x1, Alison the Architect opened the doors to her new business. She issued Shares of the company to some family members who were nice enough to invest in her entrepreneur dream. You are a friend and have offered to provide accounting services to her at reduced You have taught her how to produce the sales journal, cash receipts journal, burchases journal and cash disbursements journal We are using a manual accounting system. Maintain your general ledger in pencil The Board of Directors declared dividends as follows Date Dividend per Share 30 Jun 5 0.03 30-Octs 0.03 Payment Date 15- 15-Nov Date Sales Journal for 20X1 Customer Number 15-Jan Customer 1001 11-Feb Customer 1002 15-Mar Customer 1003 18 Apr Customer 1004 7-May Customer 1005 9-Jun Customer 1006 16 Jul Customer 1007 4. Aug Customer 1008 13-Sep Customer 1009 11-Oct Customer 1010 16-Now Customer 1011 7-Dec Customer 1012 Total 8,360 11210 12,880 12,200 11,970 11,620 3.710 7,960 13.450 9.040 12.120 13.920 128.440 Cash Receipts for 20x1 Accounts 11-Oct Customer 1010 16-Nov Customer 1011 7-Dec Customer 1012 Total 9,040 12,120 13,920 128,440 0102 40 Cash Receipts for 20X1 Accounts Receivable Other 319,600 Issuance of s 2,900 1,700 3.900 3,760 2,200 4,500 5,110 X Date Customer Number Cash 1-Jan Stock broker 319,600 14-Feb Customer 1001 2,900 1-Mar Customer 1001 1,700 13-Mar Customer 1002 3,900 22-Mar Customer 1001 3,760 28-Mar Customer 1002 2,200 14-Apr Customer 1003 4,500 18-Apr Customer 1002 5,110 29-Apr Customer 1003 2,600 18-May Customer 1004 4,300 20-May Customer 1003 5,780 2-Jun Customer 1004 2,400 6-Jun Customer 1005 4,200 21-Jun Customer 1005 2,400 23-Jun Customer 1004 5,500 9-Jul Customer 1006 4,100 12-Jul Customer 1005 5,370 24-Jul. Customer 1006 2,300 14-Aug Customer 1006 5,220 15-Aug Customer 1007 1,300 30-Aug Customer 1007 700 3-Sep Customer 1008 2,800 18-Sep Customer 1008 1,600 20-Sep Customer 1007 1,710 9-Oct Customer 1008 3,560 13-Oct Customer 1009 4,700 28-Oct Customer 1009 2,700 10-Nov Customer 1010 3,200 18-Nov Customer 1009 6,050 25-Nov Customer 1010 1,800 16-Dec Customer 1011 4,200 16-Dec Customer 1010 4,040 31-Dec Customer 1011 2,400 Total 428,600 TO 68,000 Number of $1.00 par value shares issued DR 2,600 X 4,300 X 5,780 X 2,400 4,200 X 2,400 5,500 4,100 5,370 2,300 5,220 X 1,300 700X 2,800 1,600 1,710 3,560 4,700 2,700 XXX 3,200 6,050 X 1,800 4,200 4,040 319,600 2,400 109,000 102 Page 1 20X1 Acct 306 Accounting Cycle Project v 4.xlsm Purchases Journal for 20X1 Date Vendor Kitchen Supplies* Due Date 380 14-Feb 15-Jan Costco 810 27-Feb 28-Jan Costco 15-Feb Costco 1,040 17-Mar 1-Mar Costco 1,080 31-Mar 16-Mar Costco 420 15-Apr 2-Apr Costco 300 2-May 19-Apr Costco 160 19-May 10-May Costco 140 9-Jun 15-Jun Costco 680 15-Jul 16-Jul Costco 530 15-Aug 3-Aug Costco 400 2-Sep 1-Sep Costco 920 1-Oct 15-Oct Costco 14-Nov 14-Nov Costco 320 14-Dec 9-Dec Costco 400 8-Jan 18-Dec Costco 260 17-Jan Total 8,810 507 zol *Classify the purchases of kitchen supplies as kitchen supplies expense 970 All purchase On Kitchen supplies Acct. exp Date Cash Disbursements Journal for 20X1 Accts Pay Salaries Rent 1,220 Utilities Phone Suppliest 105 insurance Insurance Computer 380 3.030 Cash 1,220 34,500 1.840 3.010 2,400 960 2,380 380 3.030 1,680 1,220 3.80 810 3 80 3,030 1,680 1,220 1,040 1,080 380 3,030 1,680 1,220 1,520 420 380 3,030 1,680 1,220 300 160 380 3,030 1,680 1,220 1,220 FOXX Check Number Vendor 1-Jan 1.001 Lucy Landlord 2-Jan 1,002 Car Company 3-Jan 1,003 Cheap Office Supplies 5-Jan 1,004 Insurance for office 6-Jan 1.005 Insurance for automobile*** 7-Jan 1,006 Computer equipment 8-Jan 1,007 Copier 30-Jan 1,008 Big Phone Company 31-Jan 1.009 Alison the Architect 31 Jan 1,010 Huge Utility Company 1-Feb 1,011 Lucy Landlord 14-Feb 1,012 Costco Visa 27-Feb 1,013 Costco Visa 28-Feb 1,014 Big Phone Company 28-Feb 1,015 Alison the Architect 28-Feb 1,016 Huge Utility Company 2-Mar 1,017 Lucy Landlord 17-Mar 1,018 Costco Visa 31-Mar 1,019 Costco Visa 31-Mar 1,020 Big Phone Company 31-Mar 1.021 Alison the Architect 31-Mar 1,022 Huge Utility Company 1-Apr 1,023 Lucy Landlord 15-Apr 1,024 Internal Revenue Service 15-Apr 1,025 Costco Visa 30-Apr 1,026 Big Phone Company 30-Apr 1,027 Alison the Architect 30-Apr 1,028 Huge Utility Company 1-May 1,029 Lucy Landlord 2-May 1,030 Costco Visa 19-May 1.031 Costco Visa 30-May 1,032 Big Phone Company 30-Mayl 1.033 Alison the Architect 1.034 Huge Utility Company 30-May 1-Jun 9-Jun 1,036 Costco Visa 30-Jun 30 Jun 30 Jun 1,039 Huge Utility Company 1.080 380 3.030 1,520 Estimated taxes 202 420 380 1,220 300 160 3,030 1.680 1,035 Lucy Landlord 380 3,030 1,037 Big Phone Company 1,038 Alison the Architect 1.680 I 2,040 Dividends * 3,030 380 3,030 1,680 1.220 680 2,040 380 3,030 1,680 1.220 3,150 530 2,160 1-Jul 15-Jul 15-Jul 30-Jull 30-Jul 30-Jul 1-Aug 1.680 1,220 3.150 1,040 Lucy Landlord 1,041 Costco Visa 1,042 Shareholders 1,043 Big Phone Company 1,044 Alison the Architect 1,045 Huge Utility Company 1,046 Lucy Landlord 1.047 Insurance for office** 1,048 Costco Visa 1,049 Cheap Office Supplies insurance 2,160 530 1-Aug 15-Aug! 12-Aug Debit Czech Page 3 20x1 Salaries Rent Utilities Phone Supplies Other 3,030 2,560 Insurance los 1,520 Estimated taxes 202 3.030 1,680 Date 30-Aug 30 Aug 30-Aug 1-Sep 1-Sep 2-Sep 15-Sep 30-Sep 30-Sep 30-Sep 1-Oct 1-Oct 30-Oct 30-Oct 30-Oct 1-Nov 14-Nov 15-Nov 15-Nov 30-Nov 30-Nov 30-Nov 1-Dec 14-Dec 30 Dec 30-Dec 30-Dec 380 P9929937882333333333333333 3,030 1.680 1,220 Check Number Vendor 1,050 Cash Big Phone Company Accts Pay 380 1,051 Alison the Architect 3,030 1.052 Huge Utility Company 1,680 1,053 Lucy Landlord 1.220 1,054 Insurance for car*** 2,560 1,055 Costco Visa 400 1,056 Internal Revenue Service 400 1,520 1,057 Big Phone Company 380 1,058 Alison the Architect 3.02.0 1,059 Huge Utility Company 1,680 1,060 Lucy Landlord 1,220 1,061 | Costco Visa 920 920 1,062 Big Phone Company 380 1,063 Alison the Architect 3,030 1,064 Huge Utility Company 1,680 1,065 lucy Landlord 1,220 1,066 Costco Visa 970 1,067 Cheap Office Supplies 2.050 1,068 Shareholders 2,040 1.069 Bie Phone Company 380 1,070 Alison the Architect 3,030 1,071 Huge Utility Company 1.680 1,072 Lucy Landlord 1,220 1,073 Costco Visa 320 320 380 1,074 Big Phone Company 3, 030 3 1,075 Alison the Architect 1,680 L 1,076 Huge Utility Company 146,000 8,150 Total 01 201 Classify supplies as office supplies on hand * Insurance for office is a prepayment for 7 months Insurance for automobile is prepayment for 8 months Useful lives - Straight line depreciation, no salvage value Useful life Automobile Computer Copier 2050 2040 Dividends 304 2.030 ,030 56,080 36,360 14,640 1.680 20,160 505 4,560 503 6,050 103 other post 910 620 1.210 use -d For enteries cash disbursement - - All Information for adjustments Ending office supplies on hand Ending kitchen supplies on hand Accrue professional service costs (accoutning) Adjust prepaid insurance Record depreciation Tax rate Dividends per share declared December 31 20% $ 0.06