Your First and Last Name Snorts Shon issued and outstanding at 11/30/22. Vondors The Office Supply store 26 Oak Street Lee's Summit, MO 64064 Contact: Danny Duke Phone: 8165551258 ElA insurance The information for this vendor will be determined by you. Baseball Supply 73 Apple Parkway Sedalia, MO 65301 Contact; Susan Smith Phone: 660-555-8966 Football Supply 183 Peach Parkway Pleasant Hill, MO 64080 Contact: Paige Pyle Phone: 816-555-7766 Customers Sam's Little League 458 Main Street Clinton, MO 64735 Contact: Sam Johnson Phone: 660-555-8745 Warrensburg High School 98 Holden Street Warrensburg, MO 64093 Contact: Greg Garcia Phone: 6605553535 Inventory Items Baseball Bat Cost: $40 Sales Price: $180 Preferred Vendor: Baseball Supply Football Cost: $30 Sales Price: $100 Preferred Vendor: Football Supply December Transactions 1 On December 1 , sold 1,000 shares of common stock to Ethel Your Last Name for $19,000. The amount was deposited immediately. 2 On December 2, paid $8,700 for the next 12 months of insurance to EIA Insurance (Check w5080) 3 On December 3, bought $3,500 of supplies from The OHice Supply Store (Check n 5081 ). 4 On December 6 , purchased 50 basebail bats from Baseball Supply on account, Invoice 9571B,$40 each, invoice total $2,000. 5 On December 9, purchased furniture on account from The Office Supply Store for a total of $816. 6 On December 10 , sold 10 baseball bats to Sam's Little League on account for $1,800, Invoice 1 . AR - Debit Sales ReV-Cr. 7 On December 11, sold 7 baseball bats to Warrensburg high School on account for $1,260, Involce 2. 8 On December 15, purchased 65 footballs from Football Supply on account. Invoice 59681,$30 each, invoice total $1,950. 9 On December 16 , received checks from Sam's tittle League and Warrensburg High School in full payment of their accounts. 10 On December 16 , returned 5 footballs to Football Supply for a total credit of $150, CM1. 11 On December 19 , sold 16 footballs to Warrensburg High School on account for $1,600, Invoice 3. 12 On December 20, paid all outstanding vendor bills. (Remember we returned footballs on December 16. ) 13 On December 26 , paid the utility bill, $100. The vendor name and information is up to you. (Check H5085) 14 On December 28, declared and paid a $10,500 cash dividend to the sole stockholder, Ethel Your Last Name. (Check 45086 ) Adjusting Entries 15 Supplies on hand at December 31 total $3,100. 16 One month of the insurance paid for on December 2 has been used. 17 Calculate one month of depreciation using straight-line for furniture with 4-year service life and no salvage value. 18 Calculate one year of depreciation for the equipment using straight-line with a 8 -year service life and salvage value of 56,000 19 Record six months of interest expense for the $35,000,6% Note Payable. 20 Wages of $6,600 will be paid on January 5,2023 for work performed December 28,2022 - January 2,2023 . Requirements Follow the accounting cycle for this project. You will need to create any reports or statements not provided in this packet. Your textbook and notes are wonderful resources. Use good form! Your company utilizes the following journals: sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. See Chapter 2 for descriptions of each journal. By 9:00 a.m. (beginning of class) on Wednesday, April 12, turn in the following: Journals for December 2022 General Ledger for December 2022 Unadjusted Trial Balance for December 2022 Adjusted Trial Balance for December 2022 Multiple-Step Income Statement for December 2022 Multiple-Step Income Statement for 2022 Statement of Stockholders' Equity for December 2022 Balance Sheet as of December 31, 2022 Statement of Cash Flows for December 2022 Post-Closing Trial Balance for 2022 Cash Receipts Journal Cash Disbursements Journal Purchases Journal Sales Journal General Joumal Genciral journal ACCOUNT: Accounts Receivable \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Inventory \begin{tabular}{|l|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Supplies \begin{tabular}{|c|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Prepaid Insurance \begin{tabular}{|l|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Accumulated Donroriation - Enuinmant ACrOINT. Intaract Davahla ACCOINT. Waone Dauahla ACCOUNT: Notes Payable \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REFF & DEEIT & CREDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Comimon Stock \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CAEDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Retained Earnings \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CAEDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Dlvidends \begin{tabular}{|c|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBI & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Sales Revenue \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Sales Discounts \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Cost of Goods Sold \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACcoUNT: Supplies Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & FXDLANATION & AEF & OFEIT & CREDTT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT Rent Expens \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXFLANATION & REF & DEBIT & CGFOIT & BALANCCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} MCCOUNT: Wages Expense ACCOUNT: Insurance Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Interest Expense \begin{tabular}{|c|c|c|c|c|c|c|} \hline DCCOUNT: Interest Expense \\ \hline & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Depreciation Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREOIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Utilities Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Your First and Last Name Sports Shop Trial Balance Your First and Last Name Sports Shop Your First and Last Name Snorts Shon issued and outstanding at 11/30/22. Vondors The Office Supply store 26 Oak Street Lee's Summit, MO 64064 Contact: Danny Duke Phone: 8165551258 ElA insurance The information for this vendor will be determined by you. Baseball Supply 73 Apple Parkway Sedalia, MO 65301 Contact; Susan Smith Phone: 660-555-8966 Football Supply 183 Peach Parkway Pleasant Hill, MO 64080 Contact: Paige Pyle Phone: 816-555-7766 Customers Sam's Little League 458 Main Street Clinton, MO 64735 Contact: Sam Johnson Phone: 660-555-8745 Warrensburg High School 98 Holden Street Warrensburg, MO 64093 Contact: Greg Garcia Phone: 6605553535 Inventory Items Baseball Bat Cost: $40 Sales Price: $180 Preferred Vendor: Baseball Supply Football Cost: $30 Sales Price: $100 Preferred Vendor: Football Supply December Transactions 1 On December 1 , sold 1,000 shares of common stock to Ethel Your Last Name for $19,000. The amount was deposited immediately. 2 On December 2, paid $8,700 for the next 12 months of insurance to EIA Insurance (Check w5080) 3 On December 3, bought $3,500 of supplies from The OHice Supply Store (Check n 5081 ). 4 On December 6 , purchased 50 basebail bats from Baseball Supply on account, Invoice 9571B,$40 each, invoice total $2,000. 5 On December 9, purchased furniture on account from The Office Supply Store for a total of $816. 6 On December 10 , sold 10 baseball bats to Sam's Little League on account for $1,800, Invoice 1 . AR - Debit Sales ReV-Cr. 7 On December 11, sold 7 baseball bats to Warrensburg high School on account for $1,260, Involce 2. 8 On December 15, purchased 65 footballs from Football Supply on account. Invoice 59681,$30 each, invoice total $1,950. 9 On December 16 , received checks from Sam's tittle League and Warrensburg High School in full payment of their accounts. 10 On December 16 , returned 5 footballs to Football Supply for a total credit of $150, CM1. 11 On December 19 , sold 16 footballs to Warrensburg High School on account for $1,600, Invoice 3. 12 On December 20, paid all outstanding vendor bills. (Remember we returned footballs on December 16. ) 13 On December 26 , paid the utility bill, $100. The vendor name and information is up to you. (Check H5085) 14 On December 28, declared and paid a $10,500 cash dividend to the sole stockholder, Ethel Your Last Name. (Check 45086 ) Adjusting Entries 15 Supplies on hand at December 31 total $3,100. 16 One month of the insurance paid for on December 2 has been used. 17 Calculate one month of depreciation using straight-line for furniture with 4-year service life and no salvage value. 18 Calculate one year of depreciation for the equipment using straight-line with a 8 -year service life and salvage value of 56,000 19 Record six months of interest expense for the $35,000,6% Note Payable. 20 Wages of $6,600 will be paid on January 5,2023 for work performed December 28,2022 - January 2,2023 . Requirements Follow the accounting cycle for this project. You will need to create any reports or statements not provided in this packet. Your textbook and notes are wonderful resources. Use good form! Your company utilizes the following journals: sales journal, purchases journal, cash receipts journal, cash disbursements journal, and general journal. See Chapter 2 for descriptions of each journal. By 9:00 a.m. (beginning of class) on Wednesday, April 12, turn in the following: Journals for December 2022 General Ledger for December 2022 Unadjusted Trial Balance for December 2022 Adjusted Trial Balance for December 2022 Multiple-Step Income Statement for December 2022 Multiple-Step Income Statement for 2022 Statement of Stockholders' Equity for December 2022 Balance Sheet as of December 31, 2022 Statement of Cash Flows for December 2022 Post-Closing Trial Balance for 2022 Cash Receipts Journal Cash Disbursements Journal Purchases Journal Sales Journal General Joumal Genciral journal ACCOUNT: Accounts Receivable \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Inventory \begin{tabular}{|l|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Supplies \begin{tabular}{|c|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Prepaid Insurance \begin{tabular}{|l|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Accumulated Donroriation - Enuinmant ACrOINT. Intaract Davahla ACCOINT. Waone Dauahla ACCOUNT: Notes Payable \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REFF & DEEIT & CREDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Comimon Stock \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CAEDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Retained Earnings \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CAEDI & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Dlvidends \begin{tabular}{|c|l|l|l|l|l|} \hline DATE & EXPLANATION & REF & DEBI & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Sales Revenue \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Sales Discounts \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Cost of Goods Sold \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACcoUNT: Supplies Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & FXDLANATION & AEF & OFEIT & CREDTT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT Rent Expens \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXFLANATION & REF & DEBIT & CGFOIT & BALANCCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} MCCOUNT: Wages Expense ACCOUNT: Insurance Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Interest Expense \begin{tabular}{|c|c|c|c|c|c|c|} \hline DCCOUNT: Interest Expense \\ \hline & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Depreciation Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREOIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} ACCOUNT: Utilities Expense \begin{tabular}{|c|c|c|c|c|c|} \hline DATE & EXPLANATION & REF & DEBIT & CREDIT & BALANCE \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} Your First and Last Name Sports Shop Trial Balance Your First and Last Name Sports Shop
