Accounting Information System Assignment

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General Journal

Module 1 - Financial Accounting Review Practice Set - Part 1
©SAP AG 2009 / SAP University Alliances
General Journal - Part 1
1/2/07 1 2002 Accrued Wages Payable 20,400
1001 Cash 20,400
to record wages paid
1/2/07 2 1304 Prepaid Advertising 7,200
1001 Cash 7,200
to record payment of prepaid advertising to start March 2007
1/3/07 3 1301 Office Supplies 362
2001 Accounts Payable 362
to record purchase of office supplies
1/3/07 4 1001 Cash 12,620
1101 Accounts Receivable 12,620
to record receipt of payment from customer
1/3/07 5 1202 Event Merchandise Inventory 92,000
2001 Accounts Payable 92,000
to record receipt of event merchandise from Rodeo Outfitters
1/3/07 6 1304 Prepaid Advertising 6,000
2001 Accounts Payable 6,000
to record receipt of advertising catalogs
1/4/07 7 1101 Accounts Receivable 19,820
5002 Cost of Goods Sold - Event Merchandise Sales 12,584
6008 Shipping Expense 170
4002 Event Merchandise Sales 19,820
1202 Event Merchandise Inventory 12,584
1001 Cash 170
to record shipment of order to LJ FFA
1/5/07 9 2001 Accounts Payable 16,050
1001 Cash 16,050
to record payment of accounts payable
1/5/07 10 2099 Other Accrued Expenses Payable 428
1001 Cash 428
to record payment of telephone bill
1/8/07 13 1101 Accounts Receivable 126,000
5002 Cost of Goods Sold - Event Merchandise Sales 80,600
6008 Shipping Expense 685
4002 Event Merchandise Sales 126,000
1202 Event Merchandise Inventory 80,600
1001 Cash 685
to record shipment to Dust Bowl Rodeo in Kansas
1/8/07 14 1001 Cash 28,400
1101 Accounts Receivable 28,400
to record receipt of customer payments
1/9/07 15 2099 Other Accrued Expenses Payable 2,110
1001 Cash 2,110
to record payment of PG&E bill
1/9/07 16 1001 Cash 18,000
5001 Cost of Goods Sold - Resale Merchandise 10,440
6008 Shipping Expense 112
4001 Resale Merchandise Sales 18,000
1201 Resale Merchandise Inventory 10,440
2001 Accounts Payable 112
to record sale of resale merchandise to Del Norte
1/9/07 17 1101 Accounts Receivable 102,240
5001 Cost of Goods Sold - Resale Merchandise 51,264
5002 Cost of Goods Sold - Event Merchandise Sales 11,513
6008 Shipping Expense 1,502
4001 Resale Merchandise Sales 80,100
4002 Event Merchandise Sales 22,140
1201 Resale Merchandise Inventory 51,264
1202 Event Merchandise Inventory 11,513
1001 Cash 1,502
to record shipment to Alamo Conference Center
1/10/07 18 1201 Resale Merchandise Inventory 76,000
2001 Accounts Payable 76,000
to record receipt of inventory from Lazy J
1/12/07 22 2001 Accounts Payable 362
1001 Cash 362
to record payment of Office Max invoice
1/12/07 23 2001 Accounts Payable 6,000
1001 Cash 6,000
to record payment for printed catalogs
1/12/07 24 2001 Accounts Payable 92,000
1001 Cash 90,160
4100 Purchase Discounts 1,840
to record payment of Rodeo Outfitters vendor invoice
1/15/07 25 1111 Allowance for doubtful accounts 3,500
1101 Accounts Receivable 3,500
to recognize write off of Fly-by-Knight receivable

beginning_bal

Module 1 - Financial Accounting Review Practice Set
©SAP AG 2009 / SAP University Alliances
Acct # Account Name Debit Balance Credit Balance
1001 Cash 135,982 0
1101 Accounts Receivable 54,500 0
1111 Allowance for doubtful accounts 0 5,321
1201 Resale Merchandise Inventory 109,821 0
1202 Event Merchandise Inventory 158,122 0
1301 Office Supplies 602 0
1302 Prepaid Insurance 4,800 0
1303 Prepaid Rent 5,000 0
1304 Prepaid Advertising 0 0
1310 Deposits 0 0
1401 Warehouse and Office Equipment 162,000 0
1411 Accumulated depreciation - Equipment 0 21,600
1501 Buildings 0 0
1511 Accumulated depreciation - Buildings 0 0
1601 Land 0 0
2001 Accounts Payable 0 16,050
2002 Accrued Wages Payable 0 20,400
2003 Accrued Payroll Taxes Payable 0 0
2004 Accrued Sales Tax Payable 0 4,178
2005 Accrued Interest Payable 0 0
2010 Other Payable 0 0
2020 Dividends Payable 0 0
2030 Current Maturities of Long-Term Debt 0 11,206
2099 Other Accrued Expenses Payable 0 2,538
2100 Notes Payables 0 59,334
3000 Common Stock - (no par) 0 200,000
3100 Retained Earnings 0 290,200
4001 Resale Merchandise Sales 0 0
4002 Events Merchandise Sales 0 0
4099 Miscellaneous Revenue 0 0
4100 Purchase Discounts 0 0
5001 Cost of Goods Sold - Resale Merchandise 0 0
5002 Cost of Goods Sold - Events Merchandise 0 0
6001 Advertising Expense 0 0
6002 Depreciation Expense 0 0
6003 Insurance Expense 0 0
6004 Interest Expense 0 0
6005 Office Supplies Expense 0 0
6006 Rent Expense 0 0
6007 Salaries/Wages Expense 0 0
6008 Shipping Expense 0 0
6009 Utilities Expense 0 0
6010 Computer Expense 0 0
6011 Bad Debt Expense 0 0
6012 Maintenance & Repairs 0 0
6099 Miscellaneous Expense 0 0
630,827 630,827 0

General Ledger

Module 1 - Financial Accounting Review Practice Set - Part 1
©SAP AG 2009 / SAP University Alliances
General Ledger Accounts - Part 1
1001 Cash 1101 Accounts Receivable 1111 Allowance for doubtful accounts 1201 Resale Merchandise Inventory
Beg.Bal. 135,982 54,500 5,321 109,821 check figures
20,400 1 12,620 4 3,500 25 10,440 16
7,200 2 19,820 7 51,264 17
12,620 4 126,000 13 76,000 18
170 7 28,400 14
16,050 9 102,240 17
428 10 3,500 25
685 13
28,400 14
2,110 15
18,000 16
1,502 17
362 22
6,000 23
90,160 24
59,020 145,067 248,060 44,520 3,500 0 76,000 61,704 386,580 251,291
49,935 0 258,040 0 0 1,821 124,117 0
1202 Event Merchandise Inventory 1301 Office Supplies 1302 Prepaid Insurance 1303 Prepaid Rent
Beg.Bal. 158,122 602 4,800 5,000
92,000 5 362 3
12,584 7
80,600 13
11,513 17
92,000 104,697 362 0 0 0 0 0 92,362 104,697
145,425 0 964 0 4,800 0 5,000 0
1304 Prepaid Advertising 1310 Deposits 1401 Warehouse and Office Equipment 1411 Accumulated depreciation - Equipment
Beg.Bal. 0 0 162,000 21,600
7,200 2
6,000 6
13,200 0 0 0 0 0 0 0 13,200 0
13,200 0 0 0 162,000 0 0 21,600
1501 Buildings 1511 Accumulated depreciation - Buildings 1601 Land
Beg.Bal. 0 0 0
0
0
0
0 0 0 0 0 0 0 0
0 0 0 0 0 0
2001 Accounts Payable 2002 Accrued Wages Payable 2003 Accrued Payroll Taxes Payable 2004 Accrued Sales Tax Payable
Beg.Bal. 16,050 20,400 0 4,178
362 3 20,400 1
92,000 5
6,000 6
16,050 9
112 16
76,000 18
362 22
6,000 23
92,000 24
114,412 174,474 20,400 0 0 0 0 0 134,812 174,474
0 76,112 0 0 0 0 0 4,178
2005 Accrued Interest Payable 2010 Other Payable 2020 Dividends Payable 2030 Current Maturities of Long-Term Debt
Beg.Bal. 0 0 0 11,206
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 11,206
2099 Other Accrued Expenses Payable 2100 Notes Payables 3000 Common Stock - (no par) 3100 Retained Earnings
Beg.Bal. 2,538 59,334 200,000 290,200
428 10
2,110 15
2,538 0 0 0 0 0 0 0 2,538 0
0 0 0 59,334 0 200,000 0 290,200
4001 Resale Merchandise Sales 4002 Event Merchandise Sales 4099 Miscellaneous Revenue 4100 Purchase Discounts
Beg.Bal. 0 0 0 0
18,000 16 19,820 7 1,840 23
80,100 17 126,000 13
22,140 17
0 98,100 0 167,960 0 0 0 1,840 0 267,900
98,100 167,960 0 1,840
5001 Cost of Goods Sold - Resale Merchandise 5002 Cost of Goods Sold - Event Merchandise Sales 6001 Advertising Expense 6002 Depreciation Expense
Beg.Bal. 0 0 0 0
10,440 16 12,584 7
51,264 17 80,600 13
11,513 17
61,704 0 104,697 0 0 0 0 0 166,401 0
61,704 104,697 0 0
6003 Insurance Expense 6004 Interest Expense 6005 Office Supplies Expense 6006 Rent Expense
Beg.Bal. 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0
6007 Salaries/Wages Expense 6008 Shipping Expense 6009 Utilities Expense 6010 Computer Expense
Beg.Bal. 0 0 0 0
170 7
685 13
112 16
1,502 17
0 0 2,469 0 0 0 0 0 2,469 0
0 2,469 0 0
6011 Bad Debt Expense 6012 Maintenance & Repairs 6099 Miscellaneous Expense
Beg.Bal. 0 0
0 0 0 0 0 0 0 0
0 0 0
Beg.Bal.
798,362 798,362
0

Trial Balance

Module 1 - Financial Accounting Review Practice Set - Part 1
©SAP AG 2009 / SAP University Alliances
Account Beginning Balance Transactions Ending Balance Adjustments Adjusted Balance EOM Closing Entries Balance
DR CR DB CR DB CR DB CR DB CR DB DB DB CR
1001 Cash 135,982 0 59,020 145,067 49,935 0
1101 Accounts Receivable 54,500 0 248,060 44,520 258,040 0
1111 Allowance for doubtful accounts 0 5,321 3,500 0 0 1,821
1201 Resale Merchandise Inventory 109,821 0 76,000 61,704 124,117 0
1202 Event Merchandise Inventory 158,122 0 92,000 104,697 145,425 0
1301 Office Supplies 602 0 362 0 964 0
1302 Prepaid Insurance 4,800 0 0 0 4,800 0
1303 Prepaid Rent 5,000 0 0 0 5,000 0
1304 Prepaid Advertising 0 0 13,200 0 13,200 0
1310 Deposits 0 0 0 0 0 0
1401 Warehouse and Office Equipment 162,000 0 0 0 162,000 0
1411 Accumulated depreciation - Equipment 0 21,600 0 0 0 21,600
1501 Buildings 0 0 0 0 0 0
1511 Accumulated depreciation - Buildings 0 0 0 0 0 0
1601 Land 0 0 0 0 0 0
2001 Accounts Payable 0 16,050 114,412 174,474 0 76,112
2002 Accrued Wages Payable 0 20,400 20,400 0 0 0
2003 Accrued Payroll Taxes Payable 0 0 0 0 0 0
2004 Accrued Sales Tax Payable 0 4,178 0 0 0 4,178
2005 Accrued Interest Payable 0 0 0 0 0 0
2010 Other Payable 0 0 0 0 0 0
2020 Dividends Payable 0 0 0 0 0 0
2030 Current Maturities of Long-Term Debt 0 11,206 0 0 0 11,206
2099 Other Accrued Expenses Payable 0 2,538 2,538 0 0 0
2100 Notes Payables 0 59,334 0 0 0 59,334
3000 Common Stock - (no par) 0 200,000 0 0 0 200,000
3100 Retained Earnings 0 290,200 0 0 0 290,200
4001 Resale Merchandise Sales 0 0 0 98,100 0 98,100
4002 Event Merchandise Sales 0 0 0 167,960 0 167,960
4099 Miscellaneous Revenue 0 0 0 0 0 0
4100 Purchase Discounts 0 0 0 1,840 0 1,840
5001 Cost of Goods Sold - Resale Merchandise 0 0 61,704 0 61,704 0
5002 Cost of Goods Sold - Event Merchandise Sales 0 0 104,697 0 104,697 0
6001 Advertising Expense 0 0 0 0 0 0
6002 Depreciation Expense 0 0 0 0 0 0
6003 Insurance Expense 0 0 0 0 0 0
6004 Interest Expense 0 0 0 0 0 0
6005 Office Supplies Expense 0 0 0 0 0 0
6006 Rent Expense 0 0 0 0 0 0
6007 Salaries/Wages Expense 0 0 0 0 0 0
6008 Shipping Expense 0 0 2,469 0 2,469 0
6009 Utilities Expense 0 0 0 0 0 0
6010 Computer Expense 0 0 0 0 0 0
6011 Bad Debt Expense 0 0 0 0 0 0
6012 Maintenance & Repairs 0 0 0 0 0 0
6099 Miscellaneous Expense 0 0 0 0 0 0
630,827 630,827 798,362 798,362 932,351 932,351
4.6 1 0
2
3
4
5
6

COA

Module 1 - Financial Accounting Review Practice Set
©SAP AG 2007 / SAP University Alliances
1001 Cash
1101 Accounts Receivable
1111 Allowance for doubtful accounts
1201 Resale Merchandise Inventory
1202 Event Merchandise Inventory
1301 Office Supplies
1302 Prepaid Insurance
1303 Prepaid Rent
1304 Prepaid Advertising
1310 Deposits
1401 Warehouse and Office Equipment
1411 Accumulated depreciation - Equipment
1501 Buildings
1511 Accumulated depreciation - Buildings
1601 Land
2001 Accounts Payable
2002 Accrued Wages Payable
2003 Accrued Payroll Taxes Payable
2004 Accrued Sales Tax Payable
2005 Accrued Interest Payable
2010 Other Payable
2020 Dividends Payable
2030 Current Maturities of Long-Term Debt
2099 Other Accrued Expenses Payable
2100 Notes Payables
3000 Common Stock - (no par)
3100 Retained Earnings
4001 Resale Merchandise Sales
4002 Event Merchandise Sales
4099 Miscellaneous Revenue
4100 Purchase Discounts
5001 Cost of Goods Sold - Resale Merchandise
5002 Cost of Goods Sold - Event Merchandise Sales
6001 Advertising Expense
6002 Depreciation Expense
6003 Insurance Expense
6004 Interest Expense
6005 Office Supplies Expense
6006 Rent Expense
6007 Salaries/Wages Expense
6008 Shipping Expense
6009 Utilities Expense
6010 Computer Expense
6011 Bad Debt Expense
6012 Maintenance & Repairs
6099 Miscellaneous Expense