Accounting HW

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spreadsheet version: PCU3e.S1

Copyright

	© 2006-2010 Excel spreadsheet companion for:
	Perdisco Coffee and Café Supplier Accounting Practice Set, US GAAP Edition 3
	Publisher
	Perdisco
	10685-B Hazelhurst Drive, Suite 3965
	Houston, TX 77043, USA
	Website: www.perdisco.com
	Email: [email protected]
	Production team
	Commissioning publisher and development editor: Jon Carter
	Authors: Raechel Wight and Julyana Cahyadi
	Technical editor: Liam Carey
	Graphic designer: Ryan Dunn
	Publisher's thanks
	This practice set contains instructional content and questions selected from our comprehensive catalog. The production credits acknowledge the key contributors to this work. In addition to those people listed, Perdisco would like to thank all authors, designers and technical experts (past and present) who have made possible the delivery of our high quality, academically rigorous and technically advanced learning resources.
	Copyright notice
	The copyrights in this practice set are owned by Perdisco. All rights reserved. Apart from any fair use for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part of this practice set may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. All inquiries should be addressed to the publisher.
	© 2006 Perdisco. Coffee & Café Supplier Accounting Practice Set US GAAP Edition 1 published 2006.
	© 2008 Perdisco. Coffee & Café Supplier Accounting Practice Set US GAAP Edition 2 published 2008.
	© 2010 Perdisco. Coffee & Café Supplier Accounting Practice Set US GAAP Edition 3 published 2010.
	© 2010 Perdisco. This Excel spreadsheet companion for US GAAP Edition 3 published in 2010.
	About the authors
	Raechel Wight (B.Bus., B.V.A) is an educator and author who has taught undergraduate accounting at a number of universities. She has many years experience writing educational resources for accounting students and, in her prior professional career, worked as an auditor for Deloitte.
	Julyana Cahyadi (B.Com., M.Bus.) teaches financial accounting and financial statement analysis to undergraduate students. She previously worked as a researcher for the National Centre for Banking and Capital Markets and has since then undertaken various consulting roles in Australia and overseas.

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Terms of use

	It is important that all users of this Spreadsheet - students, instructors or otherwise - read, understand and agree to all of the Terms of Use on this page. If you do not agree, please delete this entire Spreadsheet and all copies of it immediately. Your continued use of this Spreadsheet is taken to mean that you have expressly read and agreed to its Terms of Use.
	Terms of Use
	Companion document: This Microsoft Excel document ('Spreadsheet') is an optional companion document supporting Perdisco's Coffee and Café Supplier Accounting Practice Set US GAAP Edition 3 ('Practice Set'). Please note that this Spreadsheet does not stand alone and must be read and used in conjunction with that Practice Set. All administrative and academic instructions, transactions, account balances, other data, copyrights, disclaimers and limitations set out within the Practice Set, where possible and relevant, apply equally to this Spreadsheet.
	Limitations on use: This Spreadsheet may only be used by instructors who have adopted the Practice Set for use in their teaching, and then only by their teaching staff and their students, and then only for educational purposes that are directly associated with the Practice Set. The expected use of this Spreadsheet is to provide an optional electronic format for students to enter their answers and then submit those answers to their instructor for grading (for example, by email or by upload to a course wesbite).
	Freely provided but limitations on distribution: When all of the conditions for its use are met, this Spreadsheet is provided free of any further charge (other than any charge associated with the Practice Set itself). Even though this Spreadsheet is provided free of charge, it is still subject to strict copyright and limitations on its use and distribution. In particular, this Spreadsheet (as downloaded from Perdisco's website or as otherwise provided directly by Perdisco) and its contents (including, but not limited to, its structure, instructions, any numeric values, any marketing information, and these Terms of Use) may not be altered or customized in any way (other than what is required for a student to type in their answers), sold or distributed in any way (including by an instructor's email to their students or by placing it on a LAN, WAN or internet server including any course management system owned by any adopting university) without the written permission of Perdisco.
	Limitation of liability: This Spreadsheet and any related documentation is provided 'as is'. Perdisco makes no warranties, express or implied, with regards to merchantability, fitness for a particular purpose, accuracy or completeness (nor do we accept any responsibility arising in any way for errors in, or omissions from this Spreadsheet). In no event shall Perdisco be liable to any instructor or student for any damages arising from the use or the inability to use this Spreadsheet. The user of this Spreadsheet bears all risks and responsibility for its quality and performance.
	The information on the 'Instructions' tab of this spreadsheet also forms part of these Terms of Use.
	This 'Terms of Use' tab may not be deleted or hidden.

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Instructions

	It is important that all users of this Spreadsheet read and understand these instructions.
	Instructions for using this Excel Spreadsheet
	A separate Practice Set is required: This Spreadsheet must be read and used in conjunction with the Practice Set named in the Terms of Use. All of the instructions, transactions and other information needed are in that Practice Set (not here).
	Ensure you have the correct Spreadsheet edition: Perdisco publishes many practice sets and spreadsheet companions, each of which varies in both material and subtle ways and all of which go through updates. It is therefore important that a companion spreadsheet be used only with the specific practice set to which it belongs. If you are a student, you should ensure that you obtained this Spreadsheet and its associated Practice Set directly from your own account on the Perdisco website. Please do not obtain either document from any source other than your own Perdisco account because you may not get the exact version or edition that has been approved by your instructor. Register an account at www.perdisco.com
	This Practice Set is a manual practice set: The use of this Spreadsheet does not automate any of the accounting tasks for you. For example, journal entries are not automatically posted to accounts, running balances in the accounts are not automatically maintained, and totals are not automatically calculated. This is by design and is meant to give you direct experience in all elements of a manual accounting cycle. Nevertheless, you may use Excel in any way you feel is appropriate to assist you in completing the accounting cycle (for example, by creating a formula for a total). It has been deliberately left to you to identify what must be done.
	When to use this Spreadsheet: Only complete this Spreadsheet if your instructor permits its use. If you use this Spreadsheet for your answers then there is no need to also complete the paper accounting records provided within the Practice Set.
	Enter opening balances: Note that this Spreadsheet is not set up with the required opening balances of its various ledger accounts. You must do this step. Before starting to enter any work into this Spreadsheet you must first obtain a copy of the Practice Set and transfer all of the May 31 opening balances for each ledger account from that document into the ‘Accts receivable subsidiary’, ‘Accts payable subsidiary’ and ‘General ledger’ tabs of this Spreadsheet.
	Read all instructions in the Practice Set: Remember that it is the associated Practice Set that determines the accounting entries in this Spreadsheet. Get a copy of that Practice Set and read all of its instructions carefully.
	Do not change this Spreadsheet: Do not make any changes to this Spreadsheet other than entering your answers. The format of all accounting records must be kept intact. You should not delete accounts or lines from this Spreadsheet even though those accounts or lines may not have any entries in them. The page printing has been set so that it is well formatted when printed on A4 sized paper.

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

General journal

	General journal
	Date		Account and Explanation	Post Ref.	Debit	Credit

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Sales journal

	Sales journal
	Date		Account	Invoice No.	Post Ref.	Amount

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Purchases journals

	Purchases journal
	Date		Account	Terms	Post Ref.	Amount

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Cash receipts journal

Cash receipts journal
Date	Account	Post Ref.	Debit		Credit
			Cash	Sales Discounts	Sales Revenue	Accounts Receivable	Other Accounts

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Cash payments journal

Cash payments journal
Date	Account	Check No.	Post Ref.	Debit			Credit
				Accounts Payable	Purchases	Other Accounts	Cash	Purchase Discounts

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Accts receivable subsidiary

Accounts receivable subsidiary ledger
Account: ARC - Central Coffee
Account No. 110-1
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - Con's Coffee
Account No. 110-2
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - SloZone
Account No. 110-3
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - Quick Bolt Coffee
Account No. 110-4
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - Revamp Coffee Carts
Account No. 110-5
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - Jandesh's Hot Spot
Account No. 110-6
Date	Description	Ref.	Debit	Credit	Balance

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Accts payable subsidiary

Accounts payable subsidiary ledger
Account: APC - Brazil Imports Group
Account No. 210-1
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - East Tangiers Co-op.
Account No. 210-2
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - Abejundio Coffee
Account No. 210-3
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - Buena Vista Coffee
Account No. 210-4
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - Klam Wholesalers
Account No. 210-5
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - Jordo Gourmet Coffee
Account No. 210-6
Date	Description	Ref.	Debit	Credit	Balance

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

General ledger

General ledger
Account: Cash
Account No. 100
Date	Description	Ref.	Debit	Credit	Balance
Account: Short-term Investments
Account No. 102
Date	Description	Ref.	Debit	Credit	Balance
Account: ARC - Accounts Receivable Control
Account No. 110
Date	Description	Ref.	Debit	Credit	Balance
Account: Interest Receivable
Account No. 112
Date	Description	Ref.	Debit	Credit	Balance
Account: Merchandise Inventory
Account No. 120
Date	Description	Ref.	Debit	Credit	Balance
Account: Office Supplies
Account No. 130
Date	Description	Ref.	Debit	Credit	Balance
Account: Prepaid Rent
Account No. 140
Date	Description	Ref.	Debit	Credit	Balance
Account: Prepaid Advertising
Account No. 141
Date	Description	Ref.	Debit	Credit	Balance
Account: Prepaid Insurance
Account No. 142
Date	Description	Ref.	Debit	Credit	Balance
Account: Office Furniture
Account No. 150
Date	Description	Ref.	Debit	Credit	Balance
Account: Accum Depn: Office Furniture
Account No. 151
Date	Description	Ref.	Debit	Credit	Balance
Account: Office Equipment
Account No. 160
Date	Description	Ref.	Debit	Credit	Balance
Account: Accum Depn: Office Equipment
Account No. 161
Date	Description	Ref.	Debit	Credit	Balance
Account: APC - Accounts Payable Control
Account No. 210
Date	Description	Ref.	Debit	Credit	Balance
Account: Wages Payable
Account No. 220
Date	Description	Ref.	Debit	Credit	Balance
Account: Electricity Payable
Account No. 221
Date	Description	Ref.	Debit	Credit	Balance
Account: Water Payable
Account No. 222
Date	Description	Ref.	Debit	Credit	Balance
Account: Interest Payable
Account No. 225
Date	Description	Ref.	Debit	Credit	Balance
Account: Bank Loan Payable
Account No. 250
Date	Description	Ref.	Debit	Credit	Balance
Account: Common Stock
Account No. 300
Date	Description	Ref.	Debit	Credit	Balance
Account: Retained Earnings
Account No. 301
Date	Description	Ref.	Debit	Credit	Balance
Account: Income Summary
Account No. 310
Date	Description	Ref.	Debit	Credit	Balance
Account: Sales Revenue
Account No. 400
Date	Description	Ref.	Debit	Credit	Balance
Account: Sales Returns and Allowances
Account No. 401
Date	Description	Ref.	Debit	Credit	Balance
Account: Sales Discounts
Account No. 402
Date	Description	Ref.	Debit	Credit	Balance
Account: Interest Revenue
Account No. 403
Date	Description	Ref.	Debit	Credit	Balance
Account: Purchases
Account No. 500
Date	Description	Ref.	Debit	Credit	Balance
Account: Purchase Returns and Allowances
Account No. 501
Date	Description	Ref.	Debit	Credit	Balance
Account: Purchase Discounts
Account No. 502
Date	Description	Ref.	Debit	Credit	Balance
Account: Advertising Expense
Account No. 511
Date	Description	Ref.	Debit	Credit	Balance
Account: Wages Expense
Account No. 516
Date	Description	Ref.	Debit	Credit	Balance
Account: Rent Expense
Account No. 540
Date	Description	Ref.	Debit	Credit	Balance
Account: Electricity Expense
Account No. 541
Date	Description	Ref.	Debit	Credit	Balance
Account: Water Expense
Account No. 542
Date	Description	Ref.	Debit	Credit	Balance
Account: Insurance Expense
Account No. 543
Date	Description	Ref.	Debit	Credit	Balance
Account: Office Supplies Expense
Account No. 544
Date	Description	Ref.	Debit	Credit	Balance
Account: Salary Expense
Account No. 545
Date	Description	Ref.	Debit	Credit	Balance
Account: Depn Expense: Office Furniture
Account No. 560
Date	Description	Ref.	Debit	Credit	Balance
Account: Depn Expense: Office Equipment
Account No. 561
Date	Description	Ref.	Debit	Credit	Balance
Account: Interest Expense
Account No. 571
Date	Description	Ref.	Debit	Credit	Balance
Account: Admin. Expense - Bank Charges
Account No. 572
Date	Description	Ref.	Debit	Credit	Balance

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Bank reconciliation

	Bank reconciliation statement
	Moondollars Bank Reconciliation Statement June 30, 20XX

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Worksheet

Moondollars - Worksheet

June 30, 20XX

Acct. No.

Account Name

Unadjusted Trial Balance

Adjustments

Adjusted Trial Balance

Income Statement

Balance Sheet

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

100

Cash

102

Short-term Investments

110

ARC - Accounts Receivable Control

112

Interest Receivable

120

Merchandise Inventory

130

Office Supplies

140

Prepaid Rent

141

Prepaid Advertising

142

Prepaid Insurance

150

Office Furniture

151

Accum Depn: Office Furniture

160

Office Equipment

161

Accum Depn: Office Equipment

210

APC - Accounts Payable Control

220

Wages Payable

221

Electricity Payable

222

Water Payable

225

Interest Payable

250

Bank Loan Payable

300

Common Stock

301

Retained Earnings

400

Sales Revenue

401

Sales Returns and Allowances

402

Sales Discounts

403

Interest Revenue

500

Purchases

501

Purchase Returns and Allowances

502

Purchase Discounts

511

Advertising Expense

516

Wages Expense

540

Rent Expense

541

Electricity Expense

542

Water Expense

543

Insurance Expense

544

Office Supplies Expense

545

Salary Expense

560

Depn Expense: Office Furniture

561

Depn Expense: Office Equipment

571

Interest Expense

572

Admin. Expense - Bank Charges

Totals

Net income or loss

Totals

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Schedules of accounts

Schedule of accounts receivable
Moondollars Schedule of Accounts Receivable June 30, 20XX
Account No.	Name	Debit ($)	Credit ($)
Total
Schedule of accounts payable
Moondollars Schedule of Accounts Payable June 30, 20XX
Account No.	Name	Debit ($)	Credit ($)	Terms
Total

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Income statement


	Moondollars Income Statement For the month ended June 30, 20XX
	INCOME
	Revenue
	Net sales revenue
	COST OF GOODS SOLD
	GROSS PROFIT
	OPERATING EXPENSES
	Selling expenses
	Total selling expenses
	General and administrative expenses
	Total general and administrative expenses
	TOTAL OPERATING EXPENSES
	INCOME/(LOSS) FROM OPERATIONS
	Other revenue
	Other expenses
	NET INCOME/(LOSS)

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Stockholders' equity


	Moondollars Statement of Stockholders' Equity For the month ended June 30, 20XX
	COMMON STOCK
	Opening balance May 31, 20XX
	Issue of common stock
	Closing balance June 30, 20XX
	RETAINED EARNINGS
	Opening balance May 31, 20XX
	Net income/(loss)
	Dividend paid
	Closing balance June 30, 20XX

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Balance sheet


	Moondollars Balance Sheet June 30, 20XX
	ASSETS
	Current Assets
	Total Current Assets
	Property, Plant and Equipment
	Total Property, Plant and Equipment
	TOTAL ASSETS
	LIABILITIES
	Current Liabilities
	Total Current Liabilities
	Long-term Liabilities
	TOTAL LIABILITIES
	STOCKHOLDERS' EQUITY
	TOTAL EQUITY
	TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)

Post-closing trial balance


Moondollars Post-closing Trial Balance June 30, 20XX
Account No.	Name	Debit ($)	Credit ($)
Total

&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e.S1)