Ais Print Out

Post-Adjustment Trial Balance
December 31, 2013

Account
1100
1110
1130
1200
1205
1230
1240
1300
1410
1500
1505
2100
2150
2160
2165
2170
2180
2190
2200
2220
2700
2710
3100
3120
3200
4100
4180
4190
4500
4700
4800
5100
5200
5300
5400
5600
5700
5800
5900
6000
6100
6250
6300
Description
Cash - Operating Account
Cash - Payroll
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts
Interest Receivable
Notes Receivable
Inventory
Prepaid Insurance
Fixed Assets - Furniture & Fixtures
Accumulated Depreciation-Fixed Assets
Accounts Payable
Federal Withholding Payable
FICA Payable
Medicare payable
FUTA Payable
TX state SUTA payable
Interest Payable
Federal Income Tax Payable
Current N/P to banks
Notes Payable to Banks
Other Liabilities
Common Stock
Additional Paid-In Capital-Common Stock
Retained Earnings
Sales
Sales Discount
Sales Returns
Cost of Goods Sold
Shrinkage and Waste
Freight and Handling
Accounting Fees
Advertising Expense
Bad Debts Expense
Bank Fees
Depreciation Expense
Dues & Subscription
Employee Benefits
Insurance
Legal Fees
Life Insurance - Administration
Postage
Rent Expense
Debit
147,109.83
10.00
133,000.00
Credit
2,660.00
73,093.35
91,000.00
16,500.00
273,500.00
37,787.50
40,900.00
7,800.00
43,660.19
90,278.26
65,000.00
5,000.00
495,000.00
59,340.08
565,000.00
720.00
3,000.00
338,760.00
3,000.00
5,000.00
17,000.00
4,500.00
660.00
360.00
22,287.50
500.00
1,500.00
9,000.00
27,000.00
Post-Adjustment Trial Balance

December 31, 2013
Account
6400
6500
6600
6700
8000
8100
8200
8250
8400
9000
9100
9200
Description
Repairs & Maintenance Expense
Salaries and Wages
Supplies
Telephone & Utilities
Taxes - Federal Income
Taxes - FUTA Expense
Taxes - FICA Expense
Taxes - Medicare Expense
Taxes - SUTA Expense
Interest Expense
Interest Income
Miscellaneous Income/Expense
Debit
1,545.00
206,400.00
5,655.00
168.00
12,796.80
2,992.80
1,026.00
13,216.75
Credit
375.00
1,500.00
1,412,801.03
1,412,801.03
-
General Ledger
Account 1100

12
12
1 Balance Forward
30
30
Ref
GJ1
CD
CR
12
31 December Bank fees
GJ3
Dec
Debit
372,107.33
Credit
367,529.15
142,561.65
30.00
Debit Balance
372,107.33
4,578.18
147,139.83
Credit Balance
147,109.83
Account 1110
Cash - Payroll
Dec
12
12
1 Balance Forward
30
30
Ref
GJ1
PR
CD
Debit
10.00
Credit
Debit Balance
10.00
Credit Balance
13,779.20
13,779.20
13,769.20
10.00
Account 1130
Account not used
Account 1200
Accounts Receivable
Dec
12
12
1 Balance Forward
30
30
Ref
GJ1
SJ
CR
Debit
137,000.00
137,000.00
Ref
GJ1
Debit
Credit
141,000.00
Debit Balance
137,000.00
274,000.00
133,000.00
Credit Balance
Debit Balance
Credit Balance
2,000.00
Account 1205

Dec
1 Balance Forward
12
31 Correct Balance to 2% of A/R
GJ3
Credit
2,000.00
660.00
accounting
2,660.00
Account 1230
Interest Receivable
Dec
Ref
Debit
Credit
Debit Balance
0.00
Credit Balance
Ref
Debit
Credit
Debit Balance
0.00
75,000.00
72,718.35
Credit Balance
1 Balance Forward
Account 1240
Notes Receivable
Dec
12
12
1 Balance Forward
1
31
CD
CR
12
31 Correct Note Receivable Balance
GJ3
12
12
1 Balance Forward
30
30
Ref
GJ1
SJ
PJ
12
31 Shrinkage and Waste
GJ3
75,000.00
2,281.65
375.00
73,093.35
Account 1300
Inventory
Dec
Debit
37,000.00
Credit
Debit Balance
37,000.00
78,000.00
135,000.00
Credit Balance
41,000.00
94,000.00
3,000.00
91,000.00
Account 1410
Prepaid Insurance
Dec
Ref
12
1 Balance Forward
30
CD
12
31 December Insurance Used
GJ3
Debit
Credit
18,000.00
1,500.00
Debit Balance
0.00
18,000.00
Credit Balance
16,500.00
Account 1500
Fixed Assets - Furniture and Fixtures

Dec
1 Balance Forward
Ref
GJ1
Debit
265,500.00
Credit
Debit Balance
265,500.00
Credit Balance
12
2 Fixed Asset - Vendor 20
PJ
8,000.00
273,500.00
Account 1505
Accumulated Depreciation Fixed Assets

Dec
12
1 Balance Forward
30
Ref
GJ1
GJ2
Debit
Credit
15,500.00
22,287.50
Debit Balance
Credit Balance
15,500.00
37,787.50
Debit
Credit
110,000.00
375.00
173,900.00
Debit Balance
Credit Balance
110,000.00
110,375.00
284,275.00
38,900.00
Account 2100
Accounts Payable
12
12
12
1 Balance Forward
30
30
30
Ref
GJ1
PR
PJ
CD
12
31 Advertise Bill Payable Correction
GJ3
Dec
245,375.00
2,000.00
40,900.00
Account 2140
ACCOUNT NOT ACTIVE
Account 2150
Federal Withholding Payable

Dec
12
12
1 Balance Forward
30
30
Ref
PR
CD
Debit
Credit
Debit Balance
Credit Balance
0.00
1,730.00
0.00
Debit Balance
Credit Balance
0.00
1,066.40
0.00
Debit Balance
Credit Balance
1,730.00
1,730.00
Account 2160
FICA Payable
Dec
12
12
1 Balance Forward
30
30
Ref
PR
CD
Debit
Credit
1,066.40
1,066.40
Account 2165
Medicare Payable
Ref
Debit
Credit
Dec
12
12
1 Balance Forward
30
30
PR
CD
249.40
249.40
0.00
249.40
0.00
Account 2170
FUTA Payable
Dec
Ref
Debit
Credit
Debit Balance
1 Balance Forward
Credit Balance
0.00
Account 2180
TX State SUTA Payable

Dec
Ref
Debit
Credit
Debit Balance
Credit Balance
0.00
Ref
Debit
Credit
Debit Balance
Credit Balance
0.00
1 Balance Forward
Account 2190
Interest Payable
Dec
1 Balance Forward
12
31 Interest Payable on Line of Credit
GJ3
7,800.00
7,800.00
Account 2200
Federal Income Tax Payable

Dec
Ref
Debit
Credit
Debit Balance
1 Balance Forward
Credit Balance
0.00
Account 2210
ACCOUNT NOT IN USE
Account 2220
Current NP to Banks
Ref
Debit
Credit
Debit Balance
Credit Balance
Dec
1 Balance Forward
GJ1
43,660.19
43,660.19
Account 2700

Dec
12
1 Balance Forward
30
Ref
GJ1
CD
Debit
Credit
93,516.51
Debit Balance
Credit Balance
93,516.51
90,278.26
Ref
GJ1
Debit
Credit
65,000.00
Debit Balance
Credit Balance
65,000.00
Ref
GJ1
Debit
Credit
5,000.00
Debit Balance
Credit Balance
5,000.00
Ref
GJ1
Debit
Credit
495,000.00
Debit Balance
Credit Balance
495,000.00
Ref
GJ1
Debit
Credit
59,340.08
Debit Balance
Credit Balance
59,340.08
3,238.25
Account 2710
Other Liabilities
Dec
1 Balance Forward
Account 3100
Common Stock
Dec
1 Balance Forward
Account 3120
Additional Paid-In Capital - CS

Dec
1 Balance Forward
Account 3200
Retained Earnings
Dec
1 Balance Forward
Account 4100
Sales
Dec
12
1 Balance Forward
30
Ref
GJ1
SJ
Debit
Credit
425,000.00
140,000.00
Debit Balance
Credit Balance
425,000.00
565,000.00
Account 4180
Sales Discount
Dec
12
1 Balance Forward
30
Ref
CR
Debit
Credit
720.00
Debit Balance
Credit Balance
720.00
Account 4190
Sales Returns
Dec
12
Ref
1 Balance Forward
30
SJ
Debit
Credit
3,000.00
Debit Balance
Credit Balance
3,000.00
Account 4500
Cost of Goods Sold

Dec
12
1 Balance Forward
30
Ref
GJ1
SJ
Debit
260,760.00
78,000.00
Credit
Debit Balance
260,760.00
338,760.00
Credit Balance
Debit
Credit
Debit Balance
Credit Balance
Account 4700
Shrinkage and Waste

Dec
Ref
1 Balance Forward
12
GJ3
3,000.00
3,000.00
Account 4800
Freight and Handling

Dec
1 Balance Forward
Ref
Debit
Credit
Debit Balance
0.00
Credit Balance
12
30
CD
5,000.00
5,000.00
Account 5100
Accounting Fees
Dec
Ref
12
12
1 Balance Forward
31
31
PJ
PJ
12
31 Correct Accounting Fees Balance
PJ
Debit
Credit
8,000.00
17,000.00
8,000.00
Debit Balance
0.00
8,000.00
25,000.00
17,000.00
Credit Balance
Account 5200
Advertising Expense
12
1 Balance Forward
30
PJ
2,500.00
Debit Balance
0.00
2,500.00
12
31 Advertising Expense Correction
GJ3
2,000.00
4,500.00
Dec
Ref
Debit
Credit
Credit Balance
Account 5300
Bad Debts Expense

Dec
Ref
Debit
Credit
1 Balance Forward
12
31 Exp for correcting Allowance Bal
GJ3
660.00
Debit Balance
0.00
Credit Balance
660.00
Account 5400
Bank Fees
Dec
Ref
Debit
Credit
1 Balance Forward
Debit Balance
0.00
12
31 Bank Fees - Jan-Nov
GJ3
330.00
330.00
12
31 December Bank Fees
GJ3
30.00
360.00
Depreciation Expense
12
12
1 Balance Forward
30
30
Ref
GJ1
PR
GJ2
12
31 Correct Bank Fees
GJ3
330.00
39,487.50
12
31 Correct Salaries & Wages Balance
GJ3
17,200.00
22,287.50
Dec
Debit
330.00
17,200.00
22,287.50
Credit
Debit Balance
330.00
17,530.00
39,817.50
Credit Balance
Account 5600
Credit Balance
Account 5700
Dues & Subscription

Dec
1 Balance Forward
Ref
Debit
Credit
Debit Balance
0.00
Credit Balance
12
15
PJ
500.00
500.00
Account 5800
Employee Benefits
Dec
12
1 Balance Forward
30
Ref
GJ1
CD
Debit
1,375.00
125.00
Credit
Debit Balance
1,375.00
1,500.00
Credit Balance
Account 5900
Insurance
Dec
Ref
Debit
Credit
Debit Balance
0.00
Credit Balance
Ref
Debit
Credit
Debit Balance
0.00
9,000.00
Credit Balance
Credit
Debit Balance
0.00
Credit Balance
1 Balance Forward
Account 6000
Legal Fees
Dec
12
1 Balance Forward
30
PJ
9,000.00
Account 6100
Life Insurance - Administration

Dec
1 Balance Forward
Ref
Debit
Account 6250
Postage
Ref
Dec
Debit
Credit
Debit Balance
0.00
Credit Balance
Debit
24,750.00
2,250.00
Credit
Debit Balance
24,750.00
27,000.00
Credit Balance
Debit
Credit
Debit Balance
0.00
1,545.00
Credit Balance
1 Balance Forward
Account 6300
Rent Expense
Dec
12
1 Balance Forward
30
Ref
GJ1
CD
Account 6400
Repairs & Maintenance Expense

Dec
12
1 Balance Forward
15
Ref
PJ
1,545.00
Account 6500
Salaries and Wages

Dec
1 Balance Forward
12
31 December Salaries and Wages
Ref
GJ1
GJ3
Debit
189,200.00
Credit
17,200.00
Debit Balance
189,200.00
Credit Balance
206,400.00
Account 6600
Supplies
Dec
Ref
Debit
Credit
Debit Balance
0.00
Credit Balance
Debit
5,300.00
355.00
Credit
Debit Balance
5,300.00
5,655.00
Credit Balance
Debit
Credit
Debit Balance
0.00
Credit Balance
Debit
168.00
1,066.40
Credit
Debit Balance
168.00
1,234.40
Credit Balance
1 Balance Forward
Account 6700

Dec
12
1 Balance Forward
15
Ref
GJ1
PJ
Account 8000
Taxes - Federal Income

Dec
Ref
1 Balance Forward
Account 8100

12
1 Balance Forward
30
Ref
GJ1
CD
12
31 Reverse Incorrect FICA Entry
GJ3
Dec
1,066.40
168.00
Account 8200

Dec
1 Balance Forward
12
31 FICA Espense - December
Ref
GJ1
GJ3
Debit
11,730.40
1,066.40
Credit
Debit Balance
11,730.40
12,796.80
Credit Balance
Account 8250

Dec
12
1 Balance Forward
30
Ref
GJ1
CD
Debit
2,743.40
249.40
Credit
Debit Balance
2,743.40
2,992.80
Credit Balance
Account 8300
Account Not in Use

Account 8400

Dec
1 Balance Forward
Ref
GJ1
Debit
1,026.00
Credit
Debit Balance
1,026.00
Credit Balance
Debit
5,016.65
400.10
Credit
Debit Balance
5,016.65
5,416.75
Credit Balance
Account 9000
Interest Expense
12
1 Balance Forward
30
Ref
GJ1
CD
12
31 Interest Expense on Credit Line
GJ3
Dec
7,800.00
13,216.75
Account 9100
Interest Income
Dec
Ref
Debit
Credit
1 Balance Forward
12
31 Interest Revenue on N/R
GJ3
Debit Balance
0.00
375.00
Credit Balance
375.00
Account 9200
Miscellaneous Income/Expense
Ref
Debit
Credit
Debit Balance
Credit Balance
Dec
1 Balance Forward
12
31 December Insurance Expense
0.00
GJ3
1,500.00
1,500.00
Account Receivable Subsidiary Ledger

Accounts Receivable Account 1200
C 10
Customer 10
Credit Terms: 2/10, Net 30

Credit Limit: $25,000
Ref
Dec
12
1 Balance Forward (from November)

10
CR
12
20 Inv 1204
SJ
Debit
Credit
20,000.00
8,000.00
Debit Balance
20,000.00
-
Credit Balance
8,000.00
C 20
Customer 20

Ref
Dec
12
12
1 Balance Forward (from October)

15
28 Inv 1205
CR
SJ
12
30 CM 01
SJ
Debit
Credit
25,000.00
24,000.00
3,000.00
Debit Balance
45,000.00
20,000.00
44,000.00
Credit Balance
41,000.00
C 30
Customer 30

Ref
Dec
12
12
1 Balance Forward (from November)

3
5 Inv 1202
CR
SJ
Debit
Credit
60,000.00
48,000.00
Debit Balance
60,000.00
48,000.00
Credit Balance
C40
Customer 40

Ref
Dec
12
12
12
1
2
5
10
Balance Forward (from November)

Inv 1201
Open Balance
Inv 1203
SJ
CR
SJ
Debit
Credit
24,000.00
36,000.00
36,000.00
Debit Balance
12,000.00
36,000.00
36,000.00
Credit Balance
Inventory Subsidiary Ledger

Inventory Account 1300
I 10
Item 10
Current Cost: $1,000
Preferred Vendor: Vendor 30

Retail Sales Price: $2,000 (Price Increase from $1,500)
Stock Item
Dec
12
12
Ref
1 Balance Forward
3
20
PJ
SJ
Debit
Credit
10,000.00
4,000.00
Quantity
Debit Balance
5,000.00
15,000.00
11,000.00
Credit Balance
Debit
Credit
10.00
4.00
Debit Balance
5.00
15.00
11.00
Credit Balance
I 20
Item 20

Stock Item
Dec
Ref
12
12
1 Balance Forward
3
10
PJ
SJ
12
GJ3
Debit
Credit
15,000.00
18,000.00
Quantity
Debit Balance
6,000.00
21,000.00
3,000.00
3,000.00
Credit Balance
Debit
Credit
10.00
12.00
Debit Balance
4.00
14.00
2.00
2.00
Credit Balance
I 30
Item 30

Stock Item
Dec
Ref
12
12
1 Balance Forward
3
28
PJ
SJ
12
2 Sales of 6 items
SJ
Debit
Credit
10,000.00
12,000.00
Quantity
Debit Balance
14,000.00
24,000.00
12,000.00
12,000.00
Credit Balance
Debit
Credit
5.00
6.00
Debit Balance
7.00
12.00
6.00
6.00
Credit Balance
I 40
Item 40

Stock Item
Dec
12
12
12
Ref
1 Balance Forward
3
5
6
PJ
SJ
PJ
Debit
Credit
40,000.00
32,000.00
60,000.00
Debit Balance
12,000.00
52,000.00
20,000.00
80,000.00
Quantity
Credit Balance
Debit
Credit
10.00
8.00
15.00
Debit Balance
3.00
13.00
5.00
20.00
Credit Balance
Fixed Asset Subsidiary Ledger

Fixed Assets - Furnitures and Fixtures Account 1500
Item 10
Purchase Date:
Disposal Date:
Vendor:
Dec
12
F10
March 1, 2012
n/a
Vendor 20
1 Balance Forward
30
Depreciation Method:
Salvage Value:
Ref
Debit
November 2, 2012
n/a
Vendor 20
1 Balance Forward
30
Salvage Value:
Ref
Debit
Straight Line Annual Depreciation $

18,000.00
$ 20,000.00 Useful Life
10 Years
Credit
Debit Balance
Credit Balance
200,000.00
GJ
Item 20
Purchase Date:
Disposal Date:
Vendor:
Dec
12
Disposal Date:
Vendor:
Dec
12
GJ
Disposal Date:
Vendor:
Dec
12
12
Credit Balance
15,000.00
33,000.00
Debit
Accumulated Depreciation
Credit
Debit Balance
500.00
3,000.00
Credit Balance
500.00
3,500.00
F30
October 1, 2013
n/a
Vendor 20
1 Balance Forward
30
Salvage Value:
Ref
Debit
Straight Line
Annual Depreciation
5000
Credit
Useful Life
Debit Balance
50,000.00
4,500.00
10 Years
Credit Balance
GJ
Debit
Credit
Debit Balance
1,125.00
Item 40
Purchase Date:
Credit
Debit Balance
15,000.00
18,000.00
F20
Straight Line Annual Depreciation $
3,000.00
$
500.00 Useful Life
5 Years
Credit
Debit Balance
Credit Balance
15,500.00
Item 30
Purchase Date:
Debit
Credit Balance
1,125.00
F40
December 2, 2013
n/a
Vendor 20
1 Balance Forward
30
30
Straight Line
Salvage Value:
Ref
Debit
PJ
GJ
200
Credit
8,000.00
Annual Depreciation
Useful Life
Debit Balance
1,950.00
4 Years
Credit Balance
Debit
Credit
Debit Balance
Credit Balance
8,000.00
162.50
162.50
Account Payable Subsidiary Ledger

Accounts Payable Account 2100
V10
Vendor 10
Credit Terms: Net 30 days

Medical Insurance Vendor

Ref
Dec
12
12
1 Balance Forward
30
30
PR
CD
Debit
Credit
Debit Balance
375.00
375.00
Credit Balance
375.00
-
V20
Vendor 20

Fixed Asset Vendor

Ref
Dec
1 Balance Forward
2
12
Debit
PJ
Credit
Debit Balance
Credit Balance
8,000.00
8,000.00
V30
Vendor 30

Inventory Vendor
Ref
Dec
12
12
12
12
1 Balance Forward
1
3
6
15
CD
PJ
PJ
CD
Debit
Credit
110,000.00
75,000.00
60,000.00
135,000.00
Debit Balance
Credit Balance
110,000.00
75,000.00
135,000.00
-

V40
Vendor 40

General Supplies & Misc. Vendors

Ref
Dec
12
12
12
1
15
15
30
Balance Forward
Repair Bill V 810
Dues V 907
Advertising Bill VA01
12
31 Advertising Bill VA01 Correction
Debit
Credit
Debit Balance
PJ
PJ
PJ
1,545.00
500.00
2,500.00
Credit Balance
1,545.00
2,045.00
4,545.00
GJ3
2,000.00
6,545.00

V50
Vendor 50
Credit Terms: Net 30

Accounting Vendor
Ref
Dec
12
1 Balance Forward
30 Accounting Bill V 222
Debit
PJ
Credit
Debit Balance
17,000.00
Credit Balance
17,000.00
V60
Vendor 60

Legal Vendor
Ref
Dec
12
1 Balance Forward
30 Legal Bill V723
Debit
PJ
Credit
Debit Balance
9,000.00
Credit Balance
9,000.00
V70
Vendor 70

Telephone and Utilities Vendor

Ref
Dec
12
1 Balance Forward
15 Utilities Bill V654
PJ
Debit
Credit
355.00
Debit Balance
Credit Balance
355.00
Salaries and Wages Subsidiary Ledger

Salaries and Wages Account 6500
Salaried: $3,200 per month; Firm pays 25% of medical insurance
W-4 Filed, Married, 0
Employee 10
Dec
12
1 Balance Forward
30
Ref
PR
PR
$236.00 / period
Zero Balance Check:
Dec
12
1 Balance Forward
30
35,200.00
3,200.00
Medicare
510.40
46.40
Medical
Insurance
1,155.00
105.00
Net Pay
28,756.20
2,614.20
38,400.00
2,832.00
2,380.80
556.80
1,260.00
31,370.40
Ref
PR
PR
Zero Balance Check:
$217.00 / period
12
1 Balance Forward
30
12
2013 Total
$105
Federal W/H
2,387.00
217.00
Social Security
2,387.00
217.00
Medicare
558.25
50.75
42,000.00
2,604.00
2,604.00
609.00
1,260.00
Ref
PR
PR
$851.00 / period
0.062
P30
0.0145
Net Pay
32,012.75
2,910.25
34,923.00
Check #
1046
$60
55,000.00
5,000.00
Federal W/H
9,361.00
851.00
Social Security
3,410.00
310.00
Medicare
797.50
72.50
Medical
Insurance
660.00
60.00
60,000.00
10,212.00
3,720.00
870.00
720.00
Gross
Net Pay
40,771.50
3,706.50
44,478.00
Check #
1047
60000-10212-3720-870-720-44478

W-4 Filed, Married 4
1 Balance Forward
30
1045
+42000-2604-2604-609-1260-34923
Zero Balance Check:
Dec
P20
0.0145
38,500.00
3,500.00
Gross
2013 Total
Employee 40
0.062
Medical
Insurance
1,155.00
105.00

W-4 Filed, Single 0
Dec
Check #
38400-2832-2380.8-556.8-1260-31370.40
2013 Total
Employee 30
$105/period
Social Security
2,182.40
198.40

W-4 Filed, Married, 2
Employee 20
P10
0.0145
Federal W/H
2,596.00
236.00
Gross
2013 Total
0.062
Ref
PR
PR
$426.00 / period
0.062
P40
0.0145
$105
60,500.00
5,500.00
Federal W/H
4,686.00
426.00
Social Security
3,751.00
341.00
Medicare
877.25
79.75
Medical
Insurance
1,155.00
105.00
66,000.00
5,112.00
4,092.00
957.00
1,260.00
Gross
Net Pay
50,030.75
4,548.25
54,579.00
Check #
1048
Zero Balance Check:
66000-5122-4092-957-1260-54579
General Journal
Date
GL Acct#
Hash
Total
1100
1110
1200
1205
1300
1500
1505
2100
2220
2700
2710
3100
3120
3200
4100
4500
5600
5800
6300
6500
6700
8100
8200
8250
8400
9000
Explanation
GJ1
Cash - Payroll
Accounts Receivable
Inventory
Fixed Assets - Furniture and Fixtures
Accumulated Depreciation-Fixed Assets
Accounts Payable
Current N/P to banks
Other Liabilities
Common Stock
Additional Paid-In Capital-Common Stock
Retained Earnings
Sales
Cost of Goods Sold
Bank Fees
Employee Benefits
Rent Expense
Salaries and Wages
Interest Expense
Posted
Ref
109,520
Debit
Credit
372,107.33
10.00
137,000.00
2,000.00
37,000.00
265,500.00
15,500.00
110,000.00
43,660.19
93,516.51
65,000.00
5,000.00
495,000.00
59,340.08
425,000.00
260,760.00
330.00
1,375.00
24,750.00
189,200.00
5,300.00
168.00
11,730.40
2,743.40
1,026.00
5,016.65
1,314,016.78
1,314,016.78
To input beginning balances. Input by GL Clerk
12
30
GJ2
5600 Depreciation Expense
1505
22,287.50
22,287.50
22,287.50
22,287.50
7,105
To record annual Depreciation Expense per Fixed Asset Subledger
GJ3
5400 Bank Fees - Jan-Nov
5600 Depreciation Expense - Correct Bank Fees Entry
To correct entry that placed Bank fees in the incorrect account
12
31
330.00
330.00
General Journal
Date
12
31
GL Acct#
Explanation
5400 Bank Fees - December
1100 Cash - Bank Fees
To record Bank Fees for December
12
5300 Bad Debt Expense

1205 Allowance for Doubtful Accounts
To update Allowance for Doubtful Accounts Balance to 2% of A/R
12
31
1240 Notes Receivable

9100 Interest Revenue
To adjust balance on Note Receivable and account for interest income
12
31

1300 Inventory
To account for shrinkage and waste in inventory
12
31
9200 Insurance Expense

1410 Prepaid Insurance
To record Insurance Expense for December Prepaid Insurance used up
12
31
31
5200 Advertising Expense

2100 Accounts Payable
To correct Advertising bill amount on books which was entered short by $2,000
12
31
8200 FICA Expense - December
8100 FUTA Expense - Reverse Incorrect Entry
Hash
To Reverse
TotalIncorrect Entry and place December FICA Expense in correct account
12
6500 Salaries and Wages Expense

5600 Depreciation Expense
To correct error of entry which placed Salaries & Wages Expense in Depreciation Expense account
12
31
31
9000 Interest Expense - Line of Credit

2190 Interest Payable - Line of Credit
To record liability of Interest for Line of Credit outstanding balance
Posted
Ref
Debit
Credit
30.00
30.00
660.00
375.00
3,000.00
1,500.00
2,000.00
1,066.40
17,200.00
7,800.00
660.00
375.00
3,000.00
1,500.00
2,000.00
1,066.40
17,200.00
7,800.00
Payroll Journal
DEBIT
Employee
Name
Date
EMPLOYEE:
12
30
12
30
12
30
12
30
Employee 10
Employee 20
Employee 30
Employee 40
Total
Posted
Ref
Acct #
Gross Pay
6500
CREDIT
Federal
Withholding
2150
FICA
(6.2%)
2160
Medicare
Withheld
(1.45%)
2165
Medical
Insurance
$80 Single
$140 Married
Firm pays 25%
2100
Net Pay
1110
3,200.00
3,500.00
5,000.00
5,500.00
236.00
217.00
851.00
426.00
198.40
217.00
310.00
341.00
46.40
50.75
72.50
79.75
105.00
105.00
60.00
105.00
2,614.20
2,910.25
3,706.50
4,548.25
17,200.00
1,730.00
1,066.40
249.40
375.00
13,779.20
Zero Balance Check:

0=17,200-1,730-1,066.40-249.4-375-13,779.20
Posted to
Subledger V10
Check No.
1045
1046
1047
1048
Cash Receipts Journal

DEBIT
Date
Description
Cash
1100
12
12
12
12
12
3
5
10
15
31
Customer 30
Customer 40
Customer 10
Customer 20
Note Payment
Total
60,000.00
35,280.00
20,000.00
25,000.00
2,281.65
142,561.65
Zero Balance Check:

0 = 142,561.65+720-141,000-2281.65
CREDIT
Sales Discount
4180
720.00
Accounts Receivable 1200

A/R
Subsidiary
Acct
C30
C40
C10
C20
Amount
60,000.00
36,000.00
20,000.00
25,000.00
Other Account
Posted
Ref
GL Acct #
1240
720.00
141,000.00
Amount
Posted
Ref
2,281.65
2,281.65
Sales Journal
DEBIT
Date
12
12
12
12
12
12
Description
2
5
10
20
28
30
Customer 40
Customer 30
Customer 40
Customer 10
Customer 20
Customer 20
Invoice/
A/R
Credit Memo Subsidiary
#
Acct
1201
1202
1203
1204
1205
CM01
Total
Zero Balance Check:

137,000+3,000-140,000 = 0
78,000-78,000 = 0
C40
C30
C40
C10
C20
C20
Posted
Ref
CREDIT
Accounts
Receivable
Sales Return
1200
4190
24,000.00
48,000.00
36,000.00
8,000.00
24,000.00
(3,000.00)
3,000.00
137,000.00
3,000.00
COGS
4500
12,000.00
32,000.00
18,000.00
4,000.00
12,000.00
78,000.00
Inventory
Subsidiary
Acct
Posted
Ref
I30
I40
I20
I10
I30
Inventory
1300
12,000.00
32,000.00
18,000.00
4,000.00
12,000.00
Sales
4100
24,000.00
48,000.00
36,000.00
8,000.00
24,000.00
78,000.00
140,000.00
Purchases Journal
DEBIT
Other Acct
Date
Vendor
12
12
2
3
12
12
12
12
12
12
12
15
15
15
30
30
30
Vendor
Invoice #
Inventory
1300
GL Acct #
Vendor 20 - Fixed Asset

V123
Vendor 30
V456
75,000.00
10 Units - Item 10, 10 Units - Item 20, 5 Units-Item 30, 10 Units item 40
Vendor 30
V457
60,000.00
15 Units - Item 40
Repair Bill
V810
Dues
V907
Phone Bill
V654
Accounting Bill
V222
Advertising Bill
VA01
Legal Bill
V723
Total
Zero Balance Check:
0=135,000+38,900-173,900
135,000.00
1500
6400
5700
6700
5100
5200
6000
Amount
8,000.00
1,545.00
500.00
355.00
17,000.00
2,500.00
9,000.00
38,900.00
CREDIT
ACCOUNTS PAYABLE - 2100
Posted
Ref
A/P Subs.
Acct #
Amount
V20
V30
8,000.00
75,000.00
V30
60,000.00
V40
V40
V70
V50
V40
V60
1,545.00
500.00
355.00
17,000.00
2,500.00
9,000.00
173,900.00
Posted
Ref
Cash Disbursement Journal

CREDIT
DEBIT
Other Accounts
ACCOUNTS PAYABLE - 2100
Date
12
12
12
12
12
12
12
12
12
12
12
12
1
1
5
15
30
30
30
30
30
30
30
30
Check #
2010
2011
2012
2013
2014
2015
n/a
2016
2017
2018
2019
2020
Description
Vendor 30
Loan (Promissory Note)
Insurance (Life, General)
Vendor 30
Freight Bill
Rent
Transfer to Payroll
Federal Withholding
FICA
Medicare
Medical Insurance
First Bank (Note Payable)
Zero Balance Check:

0=367,529.15-245,375-120,438.25-1715.90
Cash
1100
A/P Subs.
Acct #
Amount
Posted
Ref
110,000.00 V30
75,000.00
18,000.00
135,000.00 V30
5,000.00
2,250.00
13,779.20
1,730.00
2,132.80
498.80
500.00 V10
3,638.35
110,000.00
367,529.15
245,375.00
135,000.00
375.00
GL Acct #
Amount
Other Accounts
Posted
Ref
1240
1410
75,000.00
18,000.00
4800
6300
1110
2150
2160
2165
5800
2700
5,000.00
2,250.00
13,779.20
1,730.00
1,066.40
249.40
125.00
3,238.25
GL Acct #
Amount
Posted
Ref
120,438.25
8200
8250
1,066.40
249.40
9000
400.10
1,715.90
Student Company
Bank Reconciliation - Cash Account
December 2013
First Bank: Cash Operating A/C #5551234
Bank Statement General Ledger
Unadjusted Bank Balance, 12/31/13
156,939.78
Add:
Deposits in Transit
147,139.83
2,281.65
Deduct:
Oustanding Checks:
Check #
2014
2015
2016
2017
2018
2019
Amount
$ 5,000.00
$ 2,250.00
$ 1,730.00
$ 2,132.80
$ 498.80
$ 500.00
$
Adjustments:
Bank Service Fee
Adjusted Balance, 12/31/13
(12,111.60)
$
$
147,109.83 $
(30.00)
147,109.83
Student Company
Bank Reconciliation - Payroll Account
December 2013
First Bank: Payroll A/C #5551235
Bank Statement General Ledger
Unadjusted Bank Balance, 12/31/13
Add:
Deposits in transit
2,624.20
10.00
Deduct:
Outstanding Checks
Check #
Amount
1045 $ 2,614.20
$
$
(2,614.20)
10.00
10.00
Student Company
Accounts Receivable Aging Report
December 2013
Customer
Customer 10
Customer 20
Customer 30
Customer 40
Total
Total Due
$
8,000.00
$ 41,000.00
$ 48,000.00
$ 36,000.00
$ 133,000.00
$
$
$
$
$
0-30 Days
31-60 Days
8,000.00
41,000.00
48,000.00
36,000.00
133,000.00
61-90 Days
>90 Days
Student Company
Inventory Reconciliation Report
December 2013
Item
Item 10
Item 20
Item 30
Item 40
Total
Quantity
11
0
0
20
31
Cost
1,000.00
1,500.00
2,000.00
4,000.00
Total
11,000.00
80,000.00
91,000.00
Student Company
Fixed Asset Report
December 2013
Item
Item 10
Item 20
Item 30
Item 40
Total
Cost
200,000.00
15,500.00
50,000.00
8,000.00
273,500.00
General Ledger Balance A/C 1500 Fixed Assets:

General Ledger Balance A/C 1505 Accumulated Depreciation:
Conclusion: Subsidiary Ledger Agrees w/ General Ledger
Accumulated Depreciation - Year to Date
Accumulated Depreciation - Beginning of Year
Difference = Depreciation Expense for Year
Accumulated
Depreciation
33,000.00
3,500.00
1,125.00
162.50
37,787.50
Net Book Value

167,000.00
12,000.00
48,875.00
7,837.50
235,712.50
273,500.00
37,787.50
37,787.50
15,500.00
22,287.50
Student Company
Accounts Payable Aging Report
December 2013
Account
Vendor 10
Vendor 20
Vendor 30
Vendor 40
Vendor 50
Vendor 60
Vendor 70
Total Due
Total
0
8,000.00
0
6,545.00
17,000.00
9,000.00
355.00
40,900.00
0-30 Days
8,000.00
6,545.00
17,000.00
9,000.00
355.00
40,900.00
31-60 Days
61-90 Days
>90 Days

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Post-Adjustment Trial Balance

December 31, 2013

Post-Adjustment Trial Balance

Cash - Operating Account

31 December Bank fees

Allowance for Doubtful Accounts

31 Correct Balance to 2% of A/R

31 Correct Note Receivable Balance

31 Shrinkage and Waste

31 December Insurance Used

Fixed Assets - Furniture and Fixtures

2 Fixed Asset - Vendor 20

Accumulated Depreciation Fixed Assets

31 Advertise Bill Payable Correction

Federal Withholding Payable

TX State SUTA Payable

31 Interest Payable on Line of Credit

Federal Income Tax Payable

Notes Payable to Banks

Additional Paid-In Capital - CS

Cost of Goods Sold

Shrinkage and Waste

31 Shrinkage and Waste

Freight and Handling

31 Correct Accounting Fees Balance

31 Advertising Expense Correction

Bad Debts Expense

31 Exp for correcting Allowance Bal

31 Bank Fees - Jan-Nov

31 December Bank Fees

31 Correct Bank Fees

31 Correct Salaries & Wages Balance

Dues & Subscription

Life Insurance - Administration

Repairs & Maintenance Expense

Salaries and Wages

31 December Salaries and Wages

Telephone & Utilities

Taxes - Federal Income

Taxes - FUTA Expense

31 Reverse Incorrect FICA Entry

Taxes - FICA Expense

31 FICA Espense - December

Taxes - Medicare Expense

Account Not in Use

Taxes - SUTA Expense

31 Interest Expense on Credit Line

31 Interest Revenue on N/R

31 December Insurance Expense

Account Receivable Subsidiary Ledger

Credit Terms: 2/10, Net 30

1 Balance Forward (from November)

Credit Terms: 2/10, Net 30

1 Balance Forward (from October)

Credit Terms: 2/10, Net 30

1 Balance Forward (from November)

Credit Terms: 3/10, Net 30

Balance Forward (from November)

Inventory Subsidiary Ledger

Preferred Vendor: Vendor 30

Preferred Vendor: Vendor 30

31 Shrinkage and Waste