Accounting Information System Assignment

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General Journal

General Journal
Date Trans Account Name Description Debit Credit Balance
Jun 01 1 1110 Cash Lauryn's Investment 90,000.00 90,000.00 0
Jun 01 1 3100 Capital stock Lauryn's Investment 90,000.00 (90,000.00) 0
- 0 0
- 0 0
- 0
Jun 01 2 1110 Cash 2600 Shares to Jeremy 28,000.00 28,000.00 0
Jun 01 2 1311 Computer Equipment 2600 Shares to Jeremy 37,000.00 37,000.00 0
Jun 01 2 3100 Capital stock 2600 Shares to Jeremy 65,000.00 (65,000.00) 0
- 0 0
- 0
Jun 01 3 1110 Cash 2800 Shares to Courtney 53,750.00 53,750.00 0
Jun 01 3 1211 Office Equipment 2800 Shares to Courtney 15,000.00 15,000.00 0
Jun 01 3 1311 Computer Equipment 2800 Shares to Courtney 1,250.00 1,250.00 0
Jun 01 3 3100 Capital stock 2800 Shares to Courtney 70,000.00 (70,000.00) 0
- 0
Jun 02 4 1130 Prepaid Insurance Prepaid Insurance 1 yr 4,800.00 4,800.00 0
Jun 02 4 1110 Cash Prepaid Insurance 1 yr 4,800.00 (4,800.00) 0
- 0 0
- 0 0
- 0
- 0 0
- 0 0
- 0 0
- 0 0
- 0
- 0 0
- 0 0
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Adjusting Journal

Adjusting Journal
Date Trans Account Name Description Debit Credit Balance
Jun 30 1001 1110 Cash Unrecorded Sales 600.00 600.00 0
Jun 30 1001 4100 Computer Revenue Unrecorded Sales 600.00 (600.00) 0
- 0 0
- 0 0
- 0
Jun 30 1002 5100 Insurance Expense Expired Insurance 200.00 200.00 0
Jun 30 1002 1130 Prepaid Insurance Expired Insurance 200.00 (200.00) 0
- 0 0
- 0 0
- 0
Jun 30 1003 3300 Dividends Record Dividends 50.00 50.00 0
Jun 30 1003 1110 Cash Record Dividends 50.00 (50.00) 0
- 0 0
- 0 0
- 0
1004 5120 Income Tax Expense Record Income Tax Expense 140.00 140.00 0
Dec 31 1004 2106 Income Tax Payable Record Income Tax Expense 140.00 (140.00) 0
- 0 0
- 0 0
- 0
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- 0 0

Chart of Accounts

Number Name Error Number Message
1110 Cash DEBIT 1 Debit and Credit on Same Line
1130 Prepaid Insurance DEBIT 2 We put Debits before Credits
1211 Office Equipment DEBIT 4 Need an Account Number
1311 Computer Equipment DEBIT 8 Round to TWO Places
2101 Accounts Payable Credit
2106 Income Tax Payable Credit
2202 Notes Payable Credit
3100 Capital stock Credit
3200 Retained Earnings Credit
3300 Dividends DEBIT
4100 Computer Revenue Credit
5090 Interest Expense DEBIT
5100 Insurance Expense DEBIT
5120 Income Tax Expense DEBIT

Trial Balance

Byte of Accounting
Trial Balance
As of June 1, 2018
Debit Credit TB_Balance
1110 Cash 166,950.00 166,950.00
1130 Prepaid Insurance 4,800.00 4,800.00
1211 Office Equipment 15,000.00 15,000.00
1311 Computer Equipment 38,250.00 38,250.00
2101 Accounts Payable - 0
2106 Income Tax Payable - 0
2202 Notes Payable - 0
3100 Capital stock 225,000.00 (225,000.00)
3200 Retained Earnings - 0
3300 Dividends - 0
4100 Computer Revenue - 0
5090 Interest Expense - 0
5100 Insurance Expense - 0
5120 Income Tax Expense - 0
Total 225,000.00 225,000.00 - 0

Worksheet

Byte of Accounting
Worksheet
As of June 1, 2018
Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit TB_Balance ADJ_BALANCE WS_Balance
1110 Cash 166,950.00 550.00 167,500.00 167,500.00 166,950.00 550.00 167,500.00
1130 Prepaid Insurance 4,800.00 200.00 4,600.00 4,600.00 4,800.00 (200.00) 4,600.00
1211 Office Equipment 15,000.00 15,000.00 15,000.00 15,000.00 - 0 15,000.00
1311 Computer Equipment 38,250.00 38,250.00 38,250.00 38,250.00 - 0 38,250.00
2101 Accounts Payable - 0 - 0 - 0
2106 Income Tax Payable 140.00 140.00 140.00 - 0 (140.00) (140.00)
2202 Notes Payable - 0 - 0 - 0
3100 Capital stock 225,000.00 225,000.00 225,000.00 (225,000.00) - 0 (225,000.00)
3200 Retained Earnings - 0 - 0 - 0
3300 Dividends 50.00 50.00 50.00 - 0 50.00 50.00
4100 Computer Revenue 600.00 600.00 600.00 - 0 (600.00) (600.00)
5090 Interest Expense - 0 - 0 - 0
5100 Insurance Expense 200.00 200.00 200.00 - 0 200.00 200.00
5120 Income Tax Expense 140.00 140.00 140.00 - 0 140.00 140.00
Total 225,000.00 225,000.00 940.00 940.00 225,740.00 225,740.00 340.00 600.00 225,400.00 225,140.00 - 0 - 0 - 0
Net Income 260.00 260.00
600.00 600.00 225,400.00 225,400.00

Temp

Byte of Accounting
Worksheet
As of June 1, 2018
1110 Cash 167,500.00
1130 Prepaid Insurance 4,600.00
1211 Office Equipment 15,000.00
1311 Computer Equipment 38,250.00
2101 Accounts Payable - 0
2106 Income Tax Payable 140.00
2202 Notes Payable - 0
3100 Capital stock 225,000.00
3200 Retained Earnings - 0
3300 Dividends 50.00
4100 Computer Revenue 600.00
5090 Interest Expense - 0
5100 Insurance Expense 200.00
5120 Income Tax Expense 140.00
Total
Net Income

Income Statement

Byte of Accounting
Income Statement
For the Period Ending June 1, 2018
Revenue:
4100 Computer Revenue $ 600.00
Expense:
5090 Interest Expense $ - 0
5100 Insurance Expense 200.00
200.00
Operating Income 400.00
5120 Income Tax Expense 0.35 140.00
Net Income After Taxes $ 260.00

Changes in Retained Earnings

Byte of Accounting
Changes in Retained Earnings
For the Period June 1, 2018
3200 Retained Earnings $ - 0
Net Income 260.00
260.00
3300 Dividends 50.00
New Retained Earning $ 210.00

Balance Sheet

Byte of Accounting
Balance Sheet
For the periodJune 1, 2018
Asset
1110 Cash $ 167,500.00
1130 Prepaid Insurance 4,600.00
1211 Office Equipment 15,000.00
1212 Accumulated Depreciation Equipment 1000.00 14,000.00
1311 Computer Equipment 38,250.00
Total Assets $ 224,350.00
Liabilities
2101 Accounts Payable $ - 0
2106 Income Tax Payable 140.00
2202 Notes Payable - 0
Total Liabilities $ 140.00
Owners Equity
3100 Capital stock 225,000.00
3200 Retained Earnings 210.00
Total Owners' Equity 225,210.00
Total Liabilities and Owner's Equity $ 225,350.00

Sheet3

VLOOKUP
Taxable Income Rate
$ - 0 10.00%
$ 8,925 15.00%
$ 36,250 25.00%
$ 87,850 28.00%
$ 183,250 33.00%
$ 398,350 35.00%
$ 400,000 39.60%
Taxable Rate
$ 7,000 10.00%
$ 8,000 10.00%
Name Hours Rate Pay
Peter 10 $ 5.50 $ 55.00 228
Paul 20 $ 6.75 $ 135.00
Mary 30 $ 7.60 $ 228.00
Concatenation:
First Peter
Last Wolf
Amount $ 50.50
WolfPeter =B32&B31
Wolf ,Peter =B32&" ,"&B31
Peter Wolf you owe 50.5
=B31&" "&B32&" you owe "&B33
$50.50 =TEXT(B33,"$#,###.00")
Peter Wolf you owe $50.50
AND OR
Eggs TRUE =OR(B48="Coffee",B47="Eggs")
Milk FALSE =AND(B48="Coffee",B47="Eggs")
90
50
40
130