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Chart of Accounts

Print this page to use for your journal entries. Only accounts on this page can be used.
Asset Accounts Liability Accounts Equity Accounts
Acct # Acct # Acct #
Cash 101 Notes Payable 201 Common Stock 301
Baking Supplies 102 Accounts Payable 202 Dividends 302
Prepaid Rent 103 Wages Payable 203
Prepaid Insurance 104 Interest Payable 204
Baking Equipment 105
Office Supplies 106
Accounts Receivable 107
Accumulated Depreciation 108
Merchandise Inventory 109 Revenue Accounts
This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Acct #
Bakery Sales 401
Merchandise Sales 402
Expense Accounts
Acct #
Baking Supplies Expense 501
Rent Expense 502
Insurance Expense 503
Misc. Expense 504
Business License Expense 505
Advertising Expense 506
Wages Expense 507
Telephone Expense 508
Interest Expense 509
Depreciation Expense 510
Office Supplies Expense 511
Cost of Goods Sold 512

July Journal Entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Jul-19
Date Accounts Debit Credit
Total - 0 - 0
- 0 - 0

August Journal Entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Aug-19
Date Accounts Debit Credit
Total - 0 $ - 0

September Journal Entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Sep-19
Date Accounts Debit Credit
Total - 0 - 0

Oct Journal entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Oct-19
Date Accounts Debit Credit
Total - 0 $ - 0

Nov Journal entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Nov-19
Date Accounts Debit Credit
Total - 0 $ - 0

Dec Journal entries

Peyton Approved
General Journal Entries Put entries in shaded cells
Dec-19
Date Accounts Debit Credit
Total - 0 $ - 0

T-Accounts

date Cash date date Notes Payable date Business License exp Common Stock
1-Jul
13-Jul
- 0 - 0 - 0 - 0 - 0 - 0
- 0 Balance Balance - 0 - 0 Balance
Accounts Rec. Insurance expense
- 0 - 0
Balance - 0
- 0 - 0
Balance - 0
Misc. expense Baking equipment Advertising expense
- 0 - 0 - 0 - 0 - 0 - 0
Balance - 0 Balance - 0 Balance - 0
Baking supplies Office supplies Rent expense
- 0 - 0 - 0 - 0 - 0 - 0
Balance - 0 Balance - 0 Balance - 0
Prepaid rent Prepaid insurance Bakery Sales
- 0 - 0 - 0 - 0 - 0 - 0
Balance - 0 Balance - 0 - 0 Balance
Accounts payable Wages expense Wages payable
- 0 - 0 - 0 - 0 - 0 - 0
- 0 Balance Balance - 0 - 0 Balance
Dividends depreciation expense
Telephone expense
- 0 - 0 acc dep
Balance - 0
- 0 - 0 Interest expense
Balance - 0
baking supplies expense COGS FIFO Interest payable
misc supplies expense
- 0 - 0
Balance - 0
Merchandise Sales
Merch. Inv. FIFO
- 0 - 0
- 0 Balance
- 0 - 0
Balance - 0

Trial Balance

Peyton Approved
Trial Balance
2019
Unadjusted trial balance Adjusting entries Adjusted trial balance
Account Debit Credit Debit Credit Debit Credit
Cash - 0 - 0
Baking Supplies - 0 - 0
Merchandise Inventory (FIFO) - 0 - 0
Prepaid Rent - 0 - 0
Prepaid Insurance - 0 - 0
Baking Equipment - 0 - 0
Accumulated Depreciation - 0
Office Supplies - 0 - 0
Accounts Receivable - 0 - 0
Notes Payable - 0 - 0
Interest Payable - 0
Accounts Payable - 0 - 0
Wages Payable - 0 - 0
Common Stock - 0 - 0
Dividends - 0 - 0
Bakery Sales - 0 - 0
Merchandise Sales - 0 - 0
Baking Supplies Expense - 0
Rent Expense - 0 - 0
Interest Expense - 0
Insurance Expense - 0
Depreciation Expense - 0
Misc. Expense - 0 - 0
Office Supplies Expense - 0
Business License Expense - 0 - 0
Advertising Expense - 0 - 0
Wages Expense - 0 - 0
Telephone Expense - 0 - 0
COGS (FIFO) - 0 - 0
Total - 0 - 0 - 0 - 0 - 0 - 0

Adjusting Entries

Peyton Approved
Adjusting Journal Entries Put entries in shaded cells
2019
Date Accounts Debit Credit
- 0 - 0

Income Statement

Peyton Approved
Income Statement
for December 31, 2019
Revenues:
Total Revenues - 0
Cost of Goods Sold
Gross Profit (FIFO) - 0
Operating Expenses:
Total Operating Expenses: - 0
Net Income (FIFO) - 0

Statement of Retained Earnings

Peyton Approved
Statement of Retained Earnings
For Qtr. Ending 9/30/2018
Beginning Balance: - 0
plus Net Income (FIFO)
less Dividends:
Ending Balance (FIFO): - 0

Balance Sheet

Peyton Approved
Balance Sheet
As of December 31, 2019
Assets Liabilities and Owners' Equity
Current Assets: Current Liabilities:
Total Current Liabilities - 0
Long-Term Liabilities:
Total Long-Term Liabilities: - 0
Total Current Assets - 0 Total Liabilities: - 0
Long-Term/Fixed Assets: Equity:
Less Accumulated Depreciation
Total Long-Term/Fixed Assets - 0
Total Assets: - 0 Total Equity - 0
Total Liabilities & Equity - 0

Closing Entries

Peyton Approved
Closing Entries
Year ending 12/31/2019
Date Accounts Debit Credit
30-Sep Bakery Sales
Merchandise Sales
Income Summary
30-Sep Income Summary (FIFO)
Baking Supplies Expense
Rent Expense
Wages Expense
Office Supplies Expense
Business License Expense
Misc. Expense
Depreciation Expense
Insurance Expense
Advertising Expense
Interest Expense
Telephone Expense
COGS FIFO
30-Sep Income Summary (FIFO)
Retained Earnings FIFO
30-Sep Retained Earnings
Dividends

Post Closing Trial Balance

Peyton Approved
Post Closing Trial Balance
12/31/19
Unadjusted Trial Balance
Account Debit Credit
Cash
Baking Supplies
Merchandise Inventory (FIFO)
Prepaid Rent
Prepaid Insurance
Baking Equipment
Accumulated Depreciation
Office Supplies
Accounts Receivable
Accounts Payable
Wages Payable
Interest Payable
Notes Payable
Common Stock
Retained Earnings FIFO
Totals - 0 - 0

Reversing Entries

Peyton Approved
Reversing Entries
as of December 31, 2019
Date Accounts Debit Credit
30-Sep Interest Payable
Interest Expense