Accounting 1 - Comprehensive Problem

jhakola_comprehensive1_140423-2.xlsx

Chart of Accounts

Use this worksheet as REFERENCE ONLY. There is nothing to complete or change, but you will need to know what accounts are used in Jessi's Creative Design business. No new accounts will need
to be added, and by the end of Part 3 of the problem, all accounts will have been used at least once.
Assets	100	Liabilities	200	Stockholders's Equity	300	Revenue	400	Expense	500
100	Cash	200	Accounts Payable	300	Common Stock	400	Service Revenue	500	Advertising Expense
110	Accounts Receivable	210	Unearned Revenue	310	Dividends	510	Supplies Expense
120	Supplies	320	Retained Earnings	520	Photo Expense
130	Prepaid Photo Subscriptions	530	Depreciation Expense
140	Prepaid Advertising
150	Equipment
155	Accumulated Depreciation-Equipment

Hint: Check module 2 for instructions on journalizing, posting, and preparing the unadjusted trial balance
You will post your regular journal entries in Part 1, adjusting entries in Part 2, and closing entries in Part 3 to these t-accounts.
Cash 100	Accounts Receivable 110	Supplies 120	Prepaid Photo Subscriptions 130	Advertising Expense 500	Accounts Payable 200
1	10000	4	250	14	500	30	250	3	200	22	200	7	500	30	292	2	3,500
8	200	7	500	30	1125	30	75	3	200
9	150	22	200
12	400	23	240
30	250	24	1200
30	292
30	75
3,333
8,243	1,375	200	200	200
Equipment 150	Accumulated Depreciation-Equipment 155	Prepaid Avdertising 140	Service Revenue 400	Supplies Expense 510	Unearned Revenue 210
2	3,500	23	240	9	150	8	200
4	250	12	400
14	500
30	1125
200
3,750	240	2175
Commom Stock 300	Retained Earnings 320	Dividends 310	Depreciation Expense 530	Photo Expense 520
1	10000	24	1200
10,000	1,200

Hint: Check module 2 for instructions on journalizing, posting, and preparing the unadjusted trial balance
This journal will only be used for Part 1 of the project.
Journal
Date	Accounts	Post. Ref	Debit	Credit
April	1	Cash	100	10,000
Common Stock	300	10,000
2	Equipment	150	3,500
Accounts Payable	200	3,500
3	Supplies	120	200
Accounts Payable	200	200
4	Equipment	150	250
Cash	100	250
7	Advertising Expenses	500	500
Cash	100	500
8	Cash	100	200
Unearned Revenue	210	200
9	Cash	100	150
Service Revenue	400	150
12	Cash	100	400
Service Revenue	400	400
14	Accounts Recievalbe	110	500
Service Revenue	400	500
22	Prepaid Photo Subscriptions	130	200
Cash	100	200
23	Prepad Advertising	140	240
Cash	100	240
24	Dividends	310	1,200
Cash	100	1,200
30	Accounts Payable	200	292
Cash	100	292
30	Accounts Payable	200	75
Cash	100	75
30	Cash	100	250
Accounts Receivable	110	250
30	Accounts Recievalbe	110	1,125
Service Revenue	400	1,125

Hint: Check module 2 for instructions on journalizing, posting, and preparing the unadjusted trial balance
This trial balance will only be used for Part 1 of the project.
Jessi's Creative Design
Unadjusted Trial Balance
April 30, 20XX
Account	Debit	Credit
100	Cash	8,243
110	Accounts Recievalbe	1,375
120	Supplies	200
130	PrePaid Photo Subscriptions	200
140	PrePaid Advertising	240
150	Equipment	3,750
200	Accounts Payable	3,333
210	Unearned Revenue	200
300	Common Stock	10,000
310	Dividends	1,200
400	Service Revenue	2,175
500	Advertising	500
15,708	15,708	15708

Hint: Check module 4 for examples of adjusting entries and the adjusted trial balance
This journal will only be used for Part 2 of the project.
Journal
Date	Accounts	Post. Ref	Debit	Credit

Hint: Check module 4 for examples of adjusting entries and the adjusted trial balance
This trial balance will be completed for Part 2 of the project, but you will use the information from this trial balance to
create your financial statements in Part 3 of the project.
Jessi's Creative Design
Adjusted Trial Balance
April 30, 20XX
Account	Debit	Credit

Prepare the financial statements for the month of April in Part 3 of the Comprehensive Project. You will use this worksheet only for Part 3 of the project.
Jessi's Creative Design	Jessi's Creative Design	Jessi's Creative Design
Income Statement	Statement of Retained Earnings	Balance Sheet
For the Month Ended April 30, 20XX	For the Month Ended April 30, 20XX	April 30, 20XX

Hint: Check modules 5 and 6 for statements and closing entries
Prepare the closing entries in Part 3 of the Comprehensive Project. You will use this worksheet only for Part 3 of the project.
Journal
Date	Accounts	Post. Ref	Debit	Credit

Hint: Check modules 5 and 6 for statements and closing entries
Prepare the post closing trial balance in Part 3 of the Comprehensive Project. You will use this worksheet only for Part 3 of the project.
Jessi's Creative Design
Post Closing Trial Balance
April 30, 20XX
Account	Debit	Credit