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 entrepreneurial dream. You are a friend and have offered to provide accounting services to her at a reduced cost. You have taught her how to produce the sales journal, cash receipts journal, purchases 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 30-Jun $ 30-Oct $ Dividend per Share 0.03 0.03 Payment Date 15-Jul 15-Nov Sales Journal for 20X1 Account Sales 8,360 X 11,210 X 12,880 X 12,200 X 11,970 11,620 X Sales on AIR sales Date 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-Nov Customer 1011 7-Dec Customer 1012 Total 3,710 X 7,960 13,450 9,040 12,120 13,920 128,440 ,102 Cash Receipts for 20x1 401 Accounts ,102 401 Cash Receipts for 20x1 Accounts Receivable Other 319,600 Issuance of sto 2,900 1,700 X 3,900 3,760 2,200 4,500 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 10 68,000 Number of $1.00 par value shares issued DR 5,110 2,600X 4,300 X 5,780 2,400 4,200 X 2,400 5,500 x 4,100 5,370 2,300 5,220 1,300 700 2,800 1,600 1,710 3,560 4,700 2,700 3,200 6,050 1,800 4,200 4,040 2,400 109,000 102 319,600 Page 1 20X1 Acct 306 Accounting Cycle Project v4.xlsm 420 Purchases Journal for 20X1 Kitchen Supplies Date Vendor 380 15-Jan Costco 810 28-Jan Costco 1,040 15-Feb Costco 1,080 1-Mar Costco 16-Mar Costco 300 2-Apr Costco 160 19-Apr Costco 140 10-May Costco 680 15-Jun Costco 530 16-Jul Costco 400 3-Aug Costco 920 1-Sep Costco 15-Oct Costco 970 14-Nov Costco 320 9-Dec Costco 400 18-Dec Costco 260 Total 8,810 Due Date 14-Feb 27-Feb 17-Mar 31-Mar 15-Apr 2-May 19-May 9-Jun 15-Jul 15-Aug 2-Sep 1-Oct 14-Nov 14-Dec 8-Jan 17-Jan 507 *Classify the purchases of kitchen supplies as kitchen supplies expense Acct. All purchase On Kitchen supplies epp Acct 306 ACCOU y de Project Axism Cash Disbursements Journal for 20X1 Date Cash Accts Pay Rent Utilities 1.Jan Phone Supplies 34500 Car 2-Jan 3-Jan 5-Jan 6-Jan 7-Jan & Jan 30-Jan 31-Jan 31 Jan 1-Feb 3.010 Insurance 2.400 Insurance 960 Computer 2,380 Copier 14-Feb 27-Fet 28 Feb 3.030 27-M 31- Mar 1,680 1.220 1,040 1.080 380 3.030 1.680 1,220 1.520 420 1.520 Estimated taxes Check Number Vendor 1,001 Lucy Landlord 1,002 Car Company 1,003 Cheap Office Supplies 1,004 Insurance for office** 1.005 Insurance for automobile 1,006 Computer equipment 1.007 Copier 1.008 Be Phone Company 1.009 Alison the Architect 1,010 Huge Utility Company 1,011 Lucy Landlord 1,012 Costco Visa 1,013 Costco Visa 1,014 Bis Phone Company 1,015 Alison the Architect 1,016 Huge Utility Company 1,017 Lucy Landlord 1,018 Costco Visa 1,019 Costco Visa 1,020 Big Phone Company 1,021 Alison the Architect 1,022 Huge Utility Company 1,023 Lucy Landlord 1,024 Internal Revenue Service 1,025 Costco Visa 1,026 Big Phone Company 1,027 Alison the Architect 1,028 Huge Utility Company 1,029 Lucy Landlord 1,030 Costco Visa 1,031 Costco Visa 1,032 Big Phone Company 1,033 Alison the Architect 1,034 Huge Utility Company 1,035 Lucy Landlord 1,036 Costco Visa 1,037 Big Phone Company 1,038 Alison the Architect 1,039 Huge Utility Company 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 3,030 1,680 1,220 300 160_ 380 3,030 3.030 31-Mar 31 Mar 21 Mar 1-Apr 15-Apr 15-Apr 30-Apr 30-Apr 30 Apr 1-May 2-May! 19 May 30-May 30-May 30 May 1-Jun 9-Jun 30 Jun 30-Jun 30 Jun 1.Jul 15-Jul 15-Jul 30-Jul 30 Jul 30-Jul 1-Aug 1-Aug 15-Aug 12-Augl 2.220 140 3,030 1,220 680 1.680 1.220 140 380 3,030 1,680 1,220 680 2,040 380 3,030 1,680 1,220 3,150 530 2,160 2,040 Dividends=09 3,030 1,220 3.150 Insurance 20 Debit Act 306 Accoryde Projects Salaries - Rent Utilities Phone Supplies 3,030 Cash 10 3,030 1.680 1.220 2.560 400 1.520 1220 2,560 insurance 380 1.520 Estimated taxes 1.220 Date Check Number Vendor 30 Aug 1.050 Big Phone Company 30 Auel 1,051 Alison the Architect 30-Aug 1.052 Huge Utility Company 1 Sep 1.053 Lucy Landlord 1-Sep 1,054 Insurance for car . 2.Sep 1,055 Costco Visa 15 Sep 1,056 Internal Revenue Service 30-Sep 1,057 Big Phone Company 30 Sep 1058 Alison the Architect 30 Sep 1,059 Huge Utility Company 1-Oct 1,060 Lucy Landlord 1-Oct 1.061 Costco Visa 30 Oct 1.062 Big Phone Company 30 Oct 1,063 Alison the Architect 30.0 1064 Hure Utility Company 1-Nov 1,065 Lucy Landlord 14 Nov 1.066 Costco Visa 15-Nov 1.067 | Cheap Office Supplies 15-Nov 1,068 Shareholders 30-NO 1.069 Bir Phone Company 30 Nov 1.070 Alison the Architect 30-Nov 1,071 Huge Utility Company 1-Dec 1,072 Lucy Landlord 14-Dec 1,073 Costco Visa 30-Decl 1,074 Big Phone Company 30-Dec 1.075 Alison the Architect 30 Dec 1,076 Huge Utility Company Total 3,030 1.680 1,220 920 380 3,030 1.680 1,220 970 2050 2,040 380 3,030 1.680 220 970 - 2000 olvidende og 3,030 320 380 3,030 1.680 146,000 8,150 3 6,360 6.050 56,080 14,640 20,160 Z 50 4,560 SS 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 use for 910 620 1,210 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 - All cash disbursement - $ 0.06 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 entrepreneurial dream. You are a friend and have offered to provide accounting services to her at a reduced cost. You have taught her how to produce the sales journal, cash receipts journal, purchases 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 30-Jun $ 30-Oct $ Dividend per Share 0.03 0.03 Payment Date 15-Jul 15-Nov Sales Journal for 20X1 Account Sales 8,360 X 11,210 X 12,880 X 12,200 X 11,970 11,620 X Sales on AIR sales Date 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-Nov Customer 1011 7-Dec Customer 1012 Total 3,710 X 7,960 13,450 9,040 12,120 13,920 128,440 ,102 Cash Receipts for 20x1 401 Accounts ,102 401 Cash Receipts for 20x1 Accounts Receivable Other 319,600 Issuance of sto 2,900 1,700 X 3,900 3,760 2,200 4,500 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 10 68,000 Number of $1.00 par value shares issued DR 5,110 2,600X 4,300 X 5,780 2,400 4,200 X 2,400 5,500 x 4,100 5,370 2,300 5,220 1,300 700 2,800 1,600 1,710 3,560 4,700 2,700 3,200 6,050 1,800 4,200 4,040 2,400 109,000 102 319,600 Page 1 20X1 Acct 306 Accounting Cycle Project v4.xlsm 420 Purchases Journal for 20X1 Kitchen Supplies Date Vendor 380 15-Jan Costco 810 28-Jan Costco 1,040 15-Feb Costco 1,080 1-Mar Costco 16-Mar Costco 300 2-Apr Costco 160 19-Apr Costco 140 10-May Costco 680 15-Jun Costco 530 16-Jul Costco 400 3-Aug Costco 920 1-Sep Costco 15-Oct Costco 970 14-Nov Costco 320 9-Dec Costco 400 18-Dec Costco 260 Total 8,810 Due Date 14-Feb 27-Feb 17-Mar 31-Mar 15-Apr 2-May 19-May 9-Jun 15-Jul 15-Aug 2-Sep 1-Oct 14-Nov 14-Dec 8-Jan 17-Jan 507 *Classify the purchases of kitchen supplies as kitchen supplies expense Acct. All purchase On Kitchen supplies epp Acct 306 ACCOU y de Project Axism Cash Disbursements Journal for 20X1 Date Cash Accts Pay Rent Utilities 1.Jan Phone Supplies 34500 Car 2-Jan 3-Jan 5-Jan 6-Jan 7-Jan & Jan 30-Jan 31-Jan 31 Jan 1-Feb 3.010 Insurance 2.400 Insurance 960 Computer 2,380 Copier 14-Feb 27-Fet 28 Feb 3.030 27-M 31- Mar 1,680 1.220 1,040 1.080 380 3.030 1.680 1,220 1.520 420 1.520 Estimated taxes Check Number Vendor 1,001 Lucy Landlord 1,002 Car Company 1,003 Cheap Office Supplies 1,004 Insurance for office** 1.005 Insurance for automobile 1,006 Computer equipment 1.007 Copier 1.008 Be Phone Company 1.009 Alison the Architect 1,010 Huge Utility Company 1,011 Lucy Landlord 1,012 Costco Visa 1,013 Costco Visa 1,014 Bis Phone Company 1,015 Alison the Architect 1,016 Huge Utility Company 1,017 Lucy Landlord 1,018 Costco Visa 1,019 Costco Visa 1,020 Big Phone Company 1,021 Alison the Architect 1,022 Huge Utility Company 1,023 Lucy Landlord 1,024 Internal Revenue Service 1,025 Costco Visa 1,026 Big Phone Company 1,027 Alison the Architect 1,028 Huge Utility Company 1,029 Lucy Landlord 1,030 Costco Visa 1,031 Costco Visa 1,032 Big Phone Company 1,033 Alison the Architect 1,034 Huge Utility Company 1,035 Lucy Landlord 1,036 Costco Visa 1,037 Big Phone Company 1,038 Alison the Architect 1,039 Huge Utility Company 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 3,030 1,680 1,220 300 160_ 380 3,030 3.030 31-Mar 31 Mar 21 Mar 1-Apr 15-Apr 15-Apr 30-Apr 30-Apr 30 Apr 1-May 2-May! 19 May 30-May 30-May 30 May 1-Jun 9-Jun 30 Jun 30-Jun 30 Jun 1.Jul 15-Jul 15-Jul 30-Jul 30 Jul 30-Jul 1-Aug 1-Aug 15-Aug 12-Augl 2.220 140 3,030 1,220 680 1.680 1.220 140 380 3,030 1,680 1,220 680 2,040 380 3,030 1,680 1,220 3,150 530 2,160 2,040 Dividends=09 3,030 1,220 3.150 Insurance 20 Debit Act 306 Accoryde Projects Salaries - Rent Utilities Phone Supplies 3,030 Cash 10 3,030 1.680 1.220 2.560 400 1.520 1220 2,560 insurance 380 1.520 Estimated taxes 1.220 Date Check Number Vendor 30 Aug 1.050 Big Phone Company 30 Auel 1,051 Alison the Architect 30-Aug 1.052 Huge Utility Company 1 Sep 1.053 Lucy Landlord 1-Sep 1,054 Insurance for car . 2.Sep 1,055 Costco Visa 15 Sep 1,056 Internal Revenue Service 30-Sep 1,057 Big Phone Company 30 Sep 1058 Alison the Architect 30 Sep 1,059 Huge Utility Company 1-Oct 1,060 Lucy Landlord 1-Oct 1.061 Costco Visa 30 Oct 1.062 Big Phone Company 30 Oct 1,063 Alison the Architect 30.0 1064 Hure Utility Company 1-Nov 1,065 Lucy Landlord 14 Nov 1.066 Costco Visa 15-Nov 1.067 | Cheap Office Supplies 15-Nov 1,068 Shareholders 30-NO 1.069 Bir Phone Company 30 Nov 1.070 Alison the Architect 30-Nov 1,071 Huge Utility Company 1-Dec 1,072 Lucy Landlord 14-Dec 1,073 Costco Visa 30-Decl 1,074 Big Phone Company 30-Dec 1.075 Alison the Architect 30 Dec 1,076 Huge Utility Company Total 3,030 1.680 1,220 920 380 3,030 1.680 1,220 970 2050 2,040 380 3,030 1.680 220 970 - 2000 olvidende og 3,030 320 380 3,030 1.680 146,000 8,150 3 6,360 6.050 56,080 14,640 20,160 Z 50 4,560 SS 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 use for 910 620 1,210 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 - All cash disbursement - $ 0.06