Accounting Spreadsheet final

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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

October Journal Entries

	A Company
	General Journal Entries
	October, 20xx
Date	Accounts	Debit	Credit
1-Oct	Cash	25,000.00
	Common stock		25,000.00
	Common stock
1-Oct	Baking supplies	8,500.00
	Accounts Payable		8,500.00
	Baking supplies
3-Oct	Cash	10,000.00
	Notes Payable		10,000.00
	Notes Payable
7-Oct	Rent Expense	3,000.00
	Cash		3,000.00
	Rent Expense
	Prepaid Rent
10-Oct	Business License Expense	375.00
	Cash		375.00
	Business License Expense
11-Oct	Misc. Expense	250.00
	Cash		250.00
	Misc. Expense
13-Oct	Baking Equipment	5,000.00
	Common Stock		5,000.00
	Common Stock
13-Oct	Advertising Expense	200.00
	Cash		200.00
	Advertising Expense
14-Oct	Office Supplies	300.00
	Cash		300.00
	Office Supplies
30-Oct	Telephone Expense	75.00
	Accounts Payable		75.00
	Telephone Expense
31-Oct	Wages Expense	120.00
	Cash		120.00
	Wages Expense
31-Oct	Prepaid Insurance	1,200.00
	Cash		1,200.00
	Prepaid Insurance
31-Oct	Accounts Receivable	5,000.00
	Bakery Sales		5,000.00
	Bakery Sales
	Total	59,020.00	59,020.00	<== Do the debits equal the credits? (they should)

November Journal Entries

	A Company
	General Journal Entries
	November, 20xx
Date	Accounts	Debit	Credit
5-Nov	Wages Expense	120.00
	Cash		120.00
	Wages Payable
8-Nov	Cash	3,800.00
	Accounts Receivable		3,800.00
	Accounts Receivable
10-Nov	Telephone Expense	75.00
	Cash		75.00
	Telephone Expense
15-Nov	Baking Supplies	5,000.00
	Accounts Payable		5,000.00
	Baking Supplies
15-Nov	Wages Payable	480.00
	Accounts Payable		480.00
	Wages Payable
15-Nov	Rent Expense	1,500.00
	Cash		1,500.00
	Rent Expense
18-Nov	Cash	1,000.00
	Accounts Receivable		1,000.00
	Accounts Receivable
20-Nov	Accounts Payable	8,500.00
	Cash		8,500.00
	Accounts Payable
20-Nov	Wages Expense	480.00
	Cash		480.00
	Wages Expense
22-Nov	Office Supplies	300.00
	Cash		300.00
	Baking Supplies
30-Nov	Telephone Expense	75.00
	Accounts Payable		75.00
	Telephone Expense
30-Nov	Wages Payable	480.00
	Accounts Payable		480.00
	Wages Payable
30-Nov	Accounts Receivable	7,500.00
	Bakery Sales		7,500.00
	Accounts Receivable
	Total	29,310.00	29,310.00	<== Do the debits equal the credits? (they should)

December Journal Entries

	A Company
	General Journal Entries
	December, 20xx
Date	Accounts	Debit	Credit
1-Dec	Cash	10,000.00
	Dividends		10,000.00
	Dividends
5-Dec	Wages Expense	120.00
	Cash		120.00
	Wages Expense
7-Dec	Merchandise Inventory	60.00			Be sure to review the Inventory Valuation tab (Columns M-P) for all Inventory related journal entries as they are given to you!
	Cash		60.00
	Merchandise Inventory
8-Dec	Cash	4,000.00
	Accounts Receivable		4,000.00
	Accounts Receivable
10-Dec	Telephone Expense	75.00
	Cash		75.00
	Interest Expense
11-Dec	Baking Supplies	7,000.00
	Accounts Payable		7,000.00
	Baking Supplies
13-Dec	Baking Supplies Expense	5,000.00
	Cash		5,000.00
	Baking Supplies Expense
15-Dec	Wages Payable	480.00
	Accounts Payable		480.00
	Wages Payable
15-Dec	Rent Expense	1,500.00
	Cash		1,500.00
	Rent Expense
15-Dec	Cash	68.00
	Merchandise Sales		68.00
	Merchandise Sales
15-Dec	Cost of Goods Sold	48.00
	Merchandise Inventory		48.00
	Cost of Goods Sold
20-Dec	Wages Expense	480.00
	Cash		480.00
	Telephone Expense
20-Dec	Merchandise Inventory	122.00
	Cash		122.00
	Merchandise Inventory
24-Dec	Cash	153.00
	Merchandise Sales		153.00
	Merchandise Sales
24-Dec	Cost of Goods Sold	109.60
	Merchandise Inventory		109.60
	Cost of Goods Sold
30-Dec	Merchandise Inventory	151.25
	Cash		151.25
	Merchandise Inventory
31-Dec	Wages Payable	480.00
	Accounts Payable		480.00
	Wages Payable
31-Dec	Accounts Receivable	6,000.00
	Bakery Sales		6,000.00
	Bakery Sales
	Total	35,846.85	35,846.85	<== Do the debits equal the credits? (they should)

Inventory Valuation

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	Microsoft: Below are the journal entries for each inventory related transaction! All you need to do is copy and paste it into the correct dates on the December Journal tab!	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

T-Accounts - autofill

date	Cash		date	date	Notes Payable		date		Business License exp			Common Stock
1-Oct	$ 25,000.00					$ 10,000.00	3-Oct	10-Oct	$ 375.00				$ 25,000.00	1-Oct
3-Oct	$ 10,000.00												$ 5,000.00	13-Oct
		$ - 0	7-Oct		$ - 0	$ 10,000.00			$ 375.00	$ - 0		$ - 0	$ 30,000.00
		$ 375.00	10-Oct			$ 10,000.00			$ 375.00				$ 30,000.00
		$ 250.00	11-Oct
		$ 200.00	13-Oct
		$ 300.00	14-Oct
		$ 120.00	31-Oct
31-Oct	$ 5,000.00
		$ 120.00	5-Nov
8-Nov	$ 3,800.00
		$ 75.00	10-Nov
18-Nov	$ 1,000.00
		$ 1,500.00	15-Nov
		$ 8,500.00	20-Nov		Accounts Rec.
		$ 480.00	20-Nov	31-Oct	- 0
		$ 300.00	22-Nov			3,800.00	8-Nov
30-Nov	$ 7,500.00					1,000.00	18-Nov
		$ 10,000.00	1-Dec	30-Nov	- 0
		$ 120.00	5-Dec			4,000.00	8-Dec
		$ 60.00	7-Dec	31-Dec	- 0
8-Dec	$ 4,000.00
		$ 75.00	10-Dec		$ - 0	$ 8,800.00
		$ 5,000.00	13-Dec		$ (8,800.00)
		$ 1,500.00	15-Dec
15-Dec	$ 68.00
		$ 480.00	20-Dec
		$ 122.00	20-Dec
24-Dec	$ 153.00
		$ 151.25	30-Dec
31-Dec	$ 6,000.00
	$ 62,521.00	$ 29,728.25
	$ 32,792.75
	Misc. expense				Baking equipment				Advertising expense
11-Oct	$ 250.00			13-Oct	$ 5,000.00			13-Oct	$ 200.00
	$ 250.00	$ - 0			$ 5,000.00	$ - 0			$ 200.00	$ - 0
	$ 250.00				$ 5,000.00				$ 200.00
	Baking supplies				Office supplies				Rent expense
1-Oct	$ 8,500.00			14-Oct	$ 300.00			7-Oct	$ 3,000.00
15-Nov	$ 5,000.00			22-Nov	$ 300.00			15-Nov	$ 1,500.00
11-Dec	$ 7,000.00							15-Dec	$ 1,500.00
	$ 20,500.00	$ - 0			$ 600.00	$ - 0			$ 6,000.00	$ - 0
	$ 20,500.00				$ 600.00				$ 6,000.00
	Prepaid rent				Prepaid insurance				Bakery Sales
7-Oct	$ - 0			31-Oct	$ 120.00					$ - 0	31-Oct
										$ - 0	30-Nov
										$ - 0	31-Dec
	$ - 0	$ - 0			$ 120.00	$ - 0			$ - 0	$ - 0
	$ - 0				$ 120.00					$ - 0
	Accounts payable				Salary and wages expense				Salaries and wages payable
		$ 8,500.00	1-Oct	31-Oct	$ 1,200.00					$ 1,200.00	31-Oct
		$ 75.00	31-Oct	15-Nov	$ 480.00			5-Nov	$ 120.00
10-Nov	$ 75.00			30-Nov	$ 480.00					$ 480.00	15-Nov
		$ 5,000.00	15-Nov	15-Dec	$ 480.00			20-Nov	$ 480.00
20-Nov	$ 8,500.00			31-Dec	$ 480.00					$ 480.00	30-Nov
		$ 75.00	30-Nov					5-Dec	$ 120.00
10-Dec	$ 75.00				$ 3,120.00	$ - 0				$ 480.00	15-Dec
		$ 7,000.00	11-Dec		$ 3,120.00			20-Dec	$ 480.00
13-Dec	$ 5,000.00									$ 480.00	31-Dec
	$ 13,650.00	$ 20,650.00
		$ 7,000.00
									$ 1,200.00	$ 3,120.00
										$ 1,920.00
	Telephone expense				Dividends				COGS
30-Oct	$ 75.00			1-Dec	$ 10,000.00			15-Dec	$ 48.00
30-Nov	$ 75.00				$ 10,000.00	$ - 0		24-Dec	$ 109.60
	$ 150.00	$ - 0			$ 10,000.00				$ 157.60	$ - 0
	$ 150.00								$ 157.60
	Merchandise Sales Revenue								Merch. Inv. FIFO
		$ 68.00	15-Dec					7-Dec	$ 60.00
		$ 153.00	24-Dec							$ 48.00	15-Dec
								20-Dec	$ 122.00
	$ - 0	$ 221.00								$ 109.60	24-Dec
		$ 221.00						30-Dec	$ 151.25
									$ 333.25	$ 157.60
									$ 175.65

Adjusting Entries

	A Company
	Adjusting Journal Entries
	20XX
Date	Accounts	Debit	Credit
31-Dec	Depreciation Expense	208.33
	Accumulated Depreciation		208.33
31-Dec	interest expense	150.00		<== Interest adjustment goes here
	Interest Payable		150.00	<== Interest adjustment goes here
31-Dec	Insurance Expense	200.00		<== Insurance adjustment goes here
	Cash		200.00	<== Insurance adjustment goes here
31-Dec	Baking Supplies	19,400.00		<== Baking supplies adjustment goes here
	Cash		19,400.00	<== Baking supplies adjustment goes here
31-Dec	Office Supplies	550.00		<== Office supplies adjustment goes here
	Cash		550.00	<== Office supplies adjustment goes here
		20,508.33	20,508.33	<== Do the debits equal the credits? (they should)

Trial Balance

		A Company
		Trial Balance
		20xx
	Unadjusted trial balance		Adjusting entries		Adjusted trial balance
Account	Debit	Credit	Debit	Credit	Debit	Credit
Cash	51,436.75				51,436.75
Baking Supplies	20,500.00			19,400.00	1,100.00
Merchandise Inventory	175.65				175.65
Prepaid Rent	1,500.00				1,500.00
Prepaid Insurance	1,200.00			200.00	1,000.00
Baking Equipment	5,000.00				5,000.00
Accumulated Depreciation				208.33		208.33
Office Supplies	600.00			550.00	50.00
Accounts Receivable	9,700.00				9,700.00
Notes Payable		10,000.00				10,000.00
Interest Payable				150.00		150.00
Accounts Payable		7,000.00				7,000.00
Wages Payable		480.00				480.00
Common Stock		30,000.00				30,000.00
Dividends	10,000.00
Bakery Sales		60,000.00			10,000.00
Unearned fees						60,000.00
Merchandise Sales		221.00				221.00
Baking Supplies Expense			19,400.00		19,400.00
Rent Expense	4,500.00				4,500.00
Interest Expense			150.00		150.00
Insurance Expense			200.00		200.00
Depreciation Expense			208.33		208.33
Misc. Expense	250.00				250.00
Office Supplies Expense			550.00		550.00
Business License Expense	375.00				375.00
Advertising Expense	200.00				200.00
Wages Expense	1,956.00				1,956.00
Telephone Expense	150.00				150.00
COGS	157.60				157.60
Retained Earnings
Total:	107,701.00	107,701.00	20,508.33	20,508.33	108,059.33	108,059.33
			Do these two columns tie to the debits and credits on the adjusting entries tab?
	Debits should equal credits				Debits should equal credits
			Debits should equal credits
`

Income Statement

A Company
Income Statement
For Qtr. Ending 12/31/20XX
Revenues
Bakery Sales	30,500.00
Merchandise Sales	491.00
Total Revenues	30,991.00
Cost of Goods Sold	157.60	<== Don't forget the COGS!
Gross Profit	30,833.40
Operating Expenses:
Baking Supplies Expense	20,500.00
Rent Expense	6,000.00
Insurance Expense	1,200.00
Misc. Expense	250.00
Business License Expense	375.00
Advertising Expense	200.00
Wages Expense	1,560.00
Telephone Expense	300.00
Interest Expense	150.00
Depreciation Expense	208.33
Office Supplies Expense	5,600.00
Total Operating Expenses:	36,343.33
Net Income	(5,509.93)

Statement of Stockholder Equity

	A Company
	Statement of Stockholder's Equity
	For Qtr. Ending 12/31/20xx
	Common Stock	Retained Earnings	Total
Beginning Balances, September 30	30000	12300	42300
Issued Common Stock	30,000.00
Net Income		(5,510.33)
Dividends		10,000.00		Make sure your dividends are negative so the formula subtracts them
Ending Balances, December 31:	60,000.00	16,789.67	42,300.00

Balance Sheet

		A Company
		Balance Sheet
		As of December 31, 20XX
Assets			Liabilities and Owners' Equity
Current Assets:			Current Liabilities:
Cash	31,833.00		Wages Payable	1,920.00
Dividends	10,000.00		Interest Payable	150.00
Office Supplies	600.00		Notes Payable	10,000.00
Merchandise Inventory	333.00		Accounts Payable	14,870.00
Prepaid Rent	3,200.00		Total Current Liabilities	26,940.00
Prepaid Insurance	1,500.00
Baking Supplies	20,500.00		Long Term Liabilities:
Accounts Receivable	13,258.00
Total Current Assets	81,224.00		Total Long Term Liabilities:	- 0
			Total Liabilities:	26,940.00
			Shareholder's Equity:
			Retained Earnings	59,075.67
Non-Current Assets:
Baking Equipment	5,000.00
Accumulated Depreciation	(208.33) Microsoft: show number as negative as the total formula will subtract it for you.		Total Equity	59,075.67
Baking Equipment (Net)	4,791.67
Total Assets:	86,015.67		Total Liabilities & Equity	86,015.67	<== Do the debits equal the credits? (they should)

Closing Entries

	A Company
	Closing Entries
	Qtr ending 12/31/20xx
Date	Accounts	Debit	Credit	Note** We are closing out the same accounts that are listed on the income statement
31-Dec	Bakery Sales		30,500.00
	Merchandise Sales		491.00
	Retained Earnings		20,846.00
31-Dec	Retained Earnings	20,846.00
	Baking Supplies Expense	20,500.00
	Rent Expense	6,000.00
	Wages Expense	1,560.00
	Misc Expense	250.00
	Business License Expense	375.00
	Office Expense	5,600.00
	Depreciation Expense	208.33
	Insurance Expense	1,200.00
	Advertising Expense	200.00
	Interest Expense	150.00
	Telephone Expense	300.00
	COGS	158.00
31-Dec	Retained Earnings		20,846.00
	Dividends		10,000.00

Post-Closing Trial Balance

A Company
Post-Closing Trial Balance
Qtr. Ending 12/31/20xx
	Unadjusted Trial Balance
Account	Debit	Credit
Cash	31,833.00			Note** These are the same accounts that are listed on the balance sheet
Baking Supplies	20,500.00
Merchandise Inventory	333.00
Prepaid Rent	3,200.00
Prepaid Insurance	1,500.00
Baking Equipment	5,000.00
Accumulated Depreciation	(208.33)		<== Accumulated depreciation goes in the debit column - as a reduction of the assets (so be sure it is a negative number!) just as you have on the balance sheet.
Office Supplies	600.00
Dividends	10,000.00
Accounts Receivable	13,258.00
Accounts Payable		14,870.00
Wages Payable		1,920.00
Interest Payable		150.00
Notes Payable		10,000.00
Common Stock		- 0
Retained Earnings		59,075.67
Total	86,015.67	86,015.67	<== Do the debits equal the credits? (they should)