Accounting Ledger ACC201

ACC201CompanyAccountingWorkbookTemplate2.xlsx

Chart of 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.
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	Cost of Goods Sold	303
Prepaid Insurance	104	Interest Payable	204
Baking Equipment	105
Office Supplies	106
Accounts Receivable	107
Accumulated Depreciation	108
Merchandise Inventory	109			Revenue Accounts
					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
Cash
Baking Supplies
Prepaid Rent
Prepaid Insurance
Baking Equipment
Office Supplies
Accounts Receivable
Accumulated Depreciation
Merchandise Inventory
Notes Payable
Accounts Payable
Wages Payable
Interest Payable
Common Stock
Dividends
Bakery Sales
Merchandise Sales
Baking Supplies Expense
Rent Expense
Insurance Expense
Misc. Expense
Business License Expense
Advertising Expense
Wages Expense
Telephone Expense
Interest Expense
Depreciation Expense
Office Supplies Expense
Cost of Goods Sold

FIFO
			Purchases			Sales			Ending Inventory						Purchases
	Date	No. of Items	Unit Price	Total Price	No. of Items	Unit Price	Total Price	No. of Items	Unit Price	Total Price	Date		Dr	Cr	12/7: 10 boxes purchased at $6
	7-Dec	10	$ 6.00	$ 60.00				10	$ 6.00	$ 60.00	7-Dec	Merchandise Inventory (10 x $6)	60.00		12/20: 20 boxes purchased at $6.10
												Cash		60.00	12/30: 25 boxes purchased at $6.05
	15-Dec				8	$ 6.00	$ 48.00	2	$ 6.00	$ 12.00		Purchased inventory			Sales – selling price, $8.50 a box
															12/15: 8 boxes
	20-Dec	20	$ 6.10	$ 122.00				2	$ 6.00	$ 12.00	15-Dec	Cash (8 x $8.50)	68.00		12/24: 18 boxes
								20	$ 6.10	$ 122.00		Merchandise Sales Revenue		68.00
								22		$ 134.00		Record sale of inventory
	24-Dec				2	$ 6.00	$ 12.00				15-Dec	Cost of Goods Sold (8 X $6)	48.00
					16	$ 6.10	$ 97.60	4	$ 6.10	$ 24.40		Merchandise Inventory		48.00
					18		$ 109.60					Recorded the cost of goods sold
	30-Dec	25	$ 6.05	$ 151.25				4	$ 6.10	$ 24.40	20-Dec	Merchandise Inventory (20 x $6.10 )	122.00
								25	$ 6.05	$ 151.25		Cash		122.00
								29		$ 175.65
	Net Inventory	55		$ 333.25	26		$ 157.60	29		$ 175.65	24-Dec	Cash (18 x 8.50)	153.00
												Merchandise Sales Revenue		153.00
												Record sale of inventory
											24-Dec	Cost of Goods Sold (2 x $6)+(16 x $6.10)	109.60
												Merchandise Inventory		109.60
												Recorded the cost of goods sold
											30-Dec	Merchandise Inventory (25 x $6.05)	151.25
												Cash		151.25

	A Company
	Statement of Stockholder's Equity
	For Qtr. Ending 12/31/20xx
	Common Stock	Retained Earnings	Total
Beginning Balances, September 30	0	0	0
Issued Common Stock
Net Income
Dividends
Ending Balances, December 31:	- 0	- 0	- 0

		A Company
		Balance Sheet
		As of December 31, 20XX
Assets			Liabilities and Owners' Equity
Current Assets:			Current Liabilities:
			Total Current Liabilities	- 0
			Long Term Liabilities:
Total Current Assets	- 0		Total Long Term Liabilities:	- 0
			Total Liabilities:	- 0
			Shareholder's Equity:
Non-Current Assets:
			Total Equity	- 0
Baking Equipment (Net)	- 0
Total Assets:	- 0		Total Liabilities & Equity	- 0