Mills Sporting Goods Store - College Accounting - Comprehensive Review Problem II - paradigm 5th edition

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Home>Business & Finance homework help>Accounting homework help>Mills Sporting Goods Store - College Accounting - Comprehensive Review Problem II - paradigm 5th edition

CRP II 1, 6, 10, 11, 18, 22, 23

CRP II Use an X instead of a check mark symbol, when needed. Data Entry Cells
1., 6., 10., 11., 18., 22., 23.
General Ledger
ACCOUNT Cash ACCOUNT NO. 111
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance x 6,560.00
31 GJ 12,296.40 18,856.40
31 GJ 14,033.15 4,823.25
Feb. 28 GJ 11,742.70 16,565.95
28 GJ 14,233.70 2,332.25
ACCOUNT Accounts Receivable ACCOUNT NO. 112
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 2,955.00
7 GJ 210.00 2,745.00
27 GJ 75.00 2,670.00
31 GJ 6,200.00 8,870.00
31 GJ 5,180.00 3,690.00
Feb. 8 GJ 195.00 3,495.00
28 GJ 6,175.00 9,670.00
28 GJ 5,635.00 4,035.00
ACCOUNT Office Supplies ACCOUNT NO. 113
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 825.00
18 GJ 860.00 1,685.00
19 GJ 110.00 1,575.00
31 GJ 745.00 830.00
Feb. 5 GJ 40.00 790.00
17 GJ 85.00 705.00
28 GJ 350.00 355.00
ACCOUNT Store Supplies ACCOUNT NO. 114
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 1,915.00
20 GJ 555.00 2,470.00
26 GJ 110.00 2,360.00
31 GJ 1,610.00 750.00
Feb. 19 GJ 340.00 1,090.00
20 GJ 30.00 1,060.00
28 GJ 785.00 275.00
ACCOUNT Merchandise Inventory ACCOUNT NO. 115
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 13,540.00
31 GJ 13,540.00 - 0
31 GJ 12,210.00 12,210.00
Feb. 28 GJ 12,210.00 - 0
28 GJ 12,780.00 12,780.00
ACCOUNT Prepaid Insurance ACCOUNT NO. 116
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 750.00
31 GJ 20.00 730.00
Feb. 28 GJ 20.00 710.00
ACCOUNT Office Equipment ACCOUNT NO. 121
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 9,500.00
16 GJ 4,400.00 13,900.00
ACCOUNT Accumulated Depreciation-Office Equipment ACCOUNT NO. 121.1
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 2,600.00
31 GJ 90.00 2,690.00
Feb. 28 GJ 90.00 2,780.00
ACCOUNT Store Equipment ACCOUNT NO. 122
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 16,600.00
Feb. 26 GJ 2,700.00 19,300.00
ACCOUNT Accumulated Depreciation-Store Equipment ACCOUNT NO. 122.1
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 4,000.00
31 GJ 125.00 4,125.00
Feb. 28 GJ 125.00 4,250.00
ACCOUNT Delivery Equipment ACCOUNT NO. 123
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 13,000.00
22 GJ 4,700.00 17,700.00
ACCOUNT Accumulated Depreciation-Delivery Equipment ACCOUNT NO. 123.1
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 7,000.00
31 GJ 250.00 7,250.00
Feb. 28 GJ 250.00 7,500.00
ACCOUNT Accounts Payable ACCOUNT NO. 211
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 3,880.00
10 GJ 105.00 3,775.00
16 GJ 4,400.00 8,175.00
18 GJ 860.00 9,035.00
19 GJ 110.00 8,925.00
20 GJ 555.00 9,480.00
31 GJ 4,345.00 13,825.00
31 GJ 7,370.00 6,455.00
Feb. 3 GJ 75.00 6,380.00
19 GJ 340.00 6,720.00
20 GJ 30.00 6,690.00
26 GJ 2,700.00 9,390.00
28 GJ 2,725.00 12,115.00
28 GJ 7,120.00 4,995.00
ACCOUNT Cindi Mills, Capital ACCOUNT NO. 311
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 1 Balance X 48,165.00
15 GJ 3,000.00 51,165.00
22 GJ 4,700.00 55,865.00
31 GJ 3,616.75 52,248.25
31 GJ 205.00 52,043.25
Feb. 28 GJ 969.40 53,012.65
28 GJ 390.00 52,622.65
ACCOUNT Cindi Mills, Drawing ACCOUNT NO. 312
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 24 GJ 205.00
31 GJ 205.00 - 0
Feb. 5 GJ 40.00 40.00
13 GJ 350.00 390.00
28 GJ 390.00 - 0
ACCOUNT Income Summary ACCOUNT NO. 313
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 13,540.00 13,540.00
31 GJ 12,210.00 1,330.00
31 GJ 10,521.85 (9,191.85) - 0
31 GJ 14,138.60 4,946.75
31 GJ 3,616.75 1,330.00
Feb. 28 GJ 12,210.00 13,540.00
28 GJ 12,780.00 760.00
28 GJ 12,466.30 -11,706.30
28 GJ 11,497.30 -209.00
28 GJ 969.00 760.00
ACCOUNT Sales ACCOUNT NO. 411
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 6,200.00 6,200.00
31 GJ 4,110.00 10,310.00
31 GJ 10,310.00 - 0
Feb. 28 GJ 6,175.00 6,175.00
28 GJ 6,080.00 12,255.00
28 GJ 12,255.00 - 0
ACCOUNT Sales Returns and Allowances ACCOUNT NO. 412
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 7 GJ 210.00 210.00
27 GJ 75.00 285.00
31 GJ 285.00 - 0
Feb. 8 GJ 195.00 195.00
28 GJ 195.00 - 0
ACCOUNT Sales Discounts ACCOUNT NO. 413
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 103.60 103.60
31 GJ 103.60 - 0
Feb. 28 GJ 77.30 77.30
28 GJ 77.30
ACCOUNT Purchases ACCOUNT NO. 511
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 4,345.00 4,345.00
31 GJ 4,345.00 - 0
Feb. 9 GJ 375.00 375.00
28 GJ 2,725.00 3,100.00
28 GJ 3,100.00 - 0
ACCOUNT Purchases Returns and Allowances ACCOUNT NO. 512
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 10 GJ 105.00 105.00
31 GJ 105.00 - 0
Feb. 3 GJ 75.00 75.00
11 GJ 20.00 95.00
28 GJ 95.00 - 0
ACCOUNT Purchases Discounts ACCOUNT NO. 513
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 106.85 106.85
31 GJ 106.85 - 0
Feb. 28 GJ 116.30 116.30
28 GJ 116.30 - 0
ACCOUNT Freight In ACCOUNT NO. 514
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 450.00 450.00
31 GJ 450.00 - 0
Feb. 28 GJ 435.00 435.00
28 GJ 435.00 - 0
ACCOUNT Salaries Expense ACCOUNT NO. 611
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 4,450.00 4,450.00
31 GJ 4,450.00 - 0
Feb. 28 GJ 4,450.00 4,450.00
28 GJ 4,450.00 - 0
ACCOUNT Rent Expense ACCOUNT NO. 612
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 2 GJ 1,070.00 1,070.00
31 GJ 1,070.00 - 0
Feb. 1 GJ 1,070.00 1,070.00
28 GJ 1,070.00 - 0
ACCOUNT Utilities Expense ACCOUNT NO. 613
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 29 GJ 595.00 595.00
31 GJ 595.00 - 0
Feb. 27 GJ 550.00 550.00
28 GJ 550.00 - 0
ACCOUNT Office Supplies Expense ACCOUNT NO. 614
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 745.00 745.00
31 GJ 745.00 - 0
Feb. 28 GJ 350.00 350.00
28 GJ 350.00 - 0
ACCOUNT Store Supplies Expense ACCOUNT NO. 615
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 1,610.00 1,610.00
31 GJ 1,610.00 - 0
Feb. 28 GJ 785.00 785.00
28 GJ 785.00 - 0
ACCOUNT Insurance Expense ACCOUNT NO. 616
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 20.00 20.00
31 GJ 20.00 - 0
Feb. 28 GJ 20.00 20.00
28 GJ 20.00 - 0
ACCOUNT Depreciation Expense-Office Equipment ACCOUNT NO. 617
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 90.00 90.00
31 GJ 90.00 - 0
Feb. 28 GJ 90.00 90.00
28 GJ 90.00 - 0
ACCOUNT Depreciation Expense-Store Equipment ACCOUNT NO. 618
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 125.00 125.00
31 GJ 125.00 - 0
Feb. 28 GJ 125.00 125.00
28 GJ 125.00 - 0
ACCOUNT Depreciation Expense-Delivery Equipment ACCOUNT NO. 619
DATE ITEM P.R. DEBIT CREDIT BALANCE
DEBIT CREDIT
20X1 Jan. 31 GJ 250.00 250.00
31 GJ 250.00 - 0
Feb. 28 GJ 250.00 250.00
28 GJ 250.00 - 0
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 2, 6, 18

CRP II Data Entry Cells
2., 6., 18. Use an X instead of a check mark symbol, when needed.
Accounts Receivable Ledger
Name Henry Galvin
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance x 1,025.00
4 GJ 1,025.00 - 0
5 GJ 1,670.00 1,670.00
7 GJ 210.00 1,460.00
15 GJ 1,460.00 - 0
Feb. 6 GJ 2,140.00 2,140.00
8 GJ 195.00 1,945.00
16 GJ 1,945.00 - 0
Name Lee Maddox
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance x 755.00
10 GJ 755.00 - 0
17 GJ 950.00 950.00
Feb. 3 GJ 950.00 - 0
12 GJ 1,185.00 1,185.00
Name Neagle Co.
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance X 1,175.00
6 GJ 1,175.00 - 0
23 GJ 820.00 820.00
Feb. 7 GJ 820.00 - 0
22 GJ 1,095.00 1,095.00
Name Smitz, Inc.
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 2 GJ 765.00 765.00
12 GJ 765.00 - 0
25 GJ 1,995.00 1,995.00
27 GJ 75.00 1,920.00
Feb. 4 GJ 1,920.00 - 0
25 GJ 1,755.00 1,755.00
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 3, 6, 18

CRP II Data Entry Cells
3., 6., 18. Use an X instead of a check mark symbol, when needed.
Accounts Payable Ledger
Name W. Bedford Co.
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance X 1,365.00
8 GJ 1,365.00 - 0
18 GJ 860.00 860.00
19 GJ 110.00 750.00
Feb. 17 GJ 750.00 - 0
19 GJ 340.00 340.00
20 GJ 30.00 310.00
Name Jones Co.
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 14 GJ 2,550.00 2,550.00
20 GJ 555.00 3,105.00
24 GJ 2,550.00 555.00
27 GJ 750.00 1,305.00
Feb. 6 GJ 1,305.00 - 0
24 GJ 1,045.00 1,045.00
Name Lemke Brothers
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance X 1,540.00
7 GJ 1,045.00 2,585.00
10 GJ 105.00 2,480.00
11 GJ 1,540.00 940.00
17 GJ 940.00 - 0
Feb. 2 GJ 740.00 740.00
3 GJ 75.00 665.00
11 GJ 665.00 - 0
21 GJ 940.00 940.00
Name Wohlers, Inc.
Address
DATE ITEM P.R. DEBIT CREDIT BALANCE
20X1 Jan. 1 Balance X 975.00
9 GJ 975.00 - 0
16 GJ 4,400.00 4,400.00
Feb. 15 GJ 4,400.00 - 0
26 GJ 2,700.00 2,700.00
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 4, 10, 11, 16, 22, 23

CRP II Use an X instead of a check mark symbol, when needed. Data Entry Cells
4., 10., 11., 16., 22., 23.
General Journal Page 12
Date Account Title P.R. Debit Credit
1 20X1 Jan. 7 Sales Returns and Allowances 412 210.00 1
2 Accounts Receivable - Henry Galvin 112 210.00 2
3 3
4 4
5 10 Accounts Payable - Lemke Brothers 211 105.00 5
6 Purchase Returns and Allowances 512 105.00 6
7 7
8 8
9 16 Office Equipment 121 4,400.00 9
10 Accounts Payable - Wohlers Inc 211 4,400.00 10
11 11
12 12
13 18 Office Supplies 113 860.00 13
14 Accounts Payable - W. Bedford Co. 211 860.00 14
15 15
16 16
17 19 Accounts Payable - W. Bedford Co. 211 110.00 17
18 Office Supplies 113 110.00 18
19 19
20 20
21 20 Store Supplies 114 555.00 21
22 Accounts Payable - Jones Co. 211 555.00 22
23 23
24 24
25 22 Delivery Equipment 123 4,700.00 25
26 Cindi, Capital 311 4,700.00 26
27 27
28 28
29 27 Sales Returns and Allowances 412 75.00 29
30 Accounts Receivable - Smitz, Inc. 112 75.00 30
31 31
32 32
33 Adjusting entries 33
34 31 Office Supplies Expense 614 745.00 34
35 Office Supplies 113 745.00 35
36 36
General Journal Page 13
Date Account Title P.R. Debit Credit
1 20X1 Jan. 31 Store Supplies Expense 615 1,610.00 1
2 Store Supplies 114 1,610.00 2
3 3
4 31 Insurance Expense 616 20.00 4
5 Prepaid Insurance 116 20.00 5
6 6
7 31 Depreciation Expense - Office Equipment 617 90.00 7
8 Accumulated Depreciation - Office Equipment 121.1 90.00 8
9 9
10 31 Depreciation Expense - Store Equipment 618 125.00 10
11 Accumulated Depreciation - Store Equipment 122.1 125.00 11
12 12
13 31 Depreciation Expense - Delivery Equipment 619 250.00 13
14 Accumulated Depreciation - Delivery Equipment 123.1 250.00 14
15 15
16 31 Income Summary 313 13,540.00 16
17 Merchandise Inventory 115 13,540.00 17
18 18
19 31 Merchandise Inventory 115 12,210.00 19
20 Income Summary 313 12,210.00 20
21 21
22 Closing entries 22
23 31 Sales 411 10,310.00 23
24 Purchases Returns and Allowances 512 105.00 24
25 Purchase Discount 513 106.85 25
26 Income Summary 313 10,521.85 26
27 27
General Journal Page 14
Date Account Title P.R. Debit Credit
1 20X1 Jan. 31 Income Summary 313 14,138.60 1
2 Sales Returns and Allowances 412 285.00 2
3 Sales Discounts 413 103.60 3
4 Purchases 511 4,345.00 4
5 Freight in 514 450.00 5
6 Salaries Expense 611 4,450.00 6
7 Rent Expense 612 1,070.00 7
8 Utilities Expense 613 595.00 8
9 Office Supplies Expense 614 745.00 9
10 Store Supplies Expense 615 1,610.00 10
11 Insurance Expense 616 20.00 11
12 Depreciation Expense - Office equipment 617 90.00 12
13 Depreciation Expense - Store equipment 618 125.00 13
14 Depreciation Expense - Delivery equipment 619 250.00 14
15 15
16 31 Cindi, Capital 311 3,616.75 16
17 Income Summary 313 3,616.75 17
18 18
19 31 Cindi, Capital 311 205.00 19
20 Cindi, Drawings 312 205.00 20
21 21
22 Feb. 3 Accounts Payable - Lemke Brothers 211 75.00 22
23 Purchase Returns 512 75.00 23
24 24
25 25
26 5 Cindi, Drawings 312 40.00 26
27 Office Supplies 113 40.00 27
28 28
29 29
30 8 Sales Returns 412 195.00 30
31 Accounts Receivable - Henry Galvin 112 195.00 31
32 32
33 33
General Journal Page 15
Date Account Title P.R. Debit Credit
1 20X1 Feb. 19 Store Supplies 114 340.00 1
2 Accounts Payable - W. Bedford Co. 211 340.00 2
3 3
4 4
5 20 Accounts Payable - W. Bedford Co. 211 30.00 5
6 Store Supplies 114 30.00 6
7 7
8 8
9 26 Store Equipment 122 2,700.00 9
10 Accounts Payable - Wohlers Inc 211 2,700.00 10
11 11
12 12
13 Adjusting Entries 13
14 28 Office Supplies Expense 614 350.00 14
15 Office Supplies 113 350.00 15
16 16
17 28 Store Supplies Expense 615 785.00 17
18 Store Supplies 114 785.00 18
19 19
20 28 Insurance Expense 20.00 20
21 Prepaid Insurance 20.00 21
22 22
23 28 Depreciation Expense - Office Equipment 617 90.00 23
24 Accumulated Depreciation - Office Equipment 121.1 90.00 24
25 25
26 28 Depreciation Expense - Store Equipment 618 125.00 26
27 Accumulated Depreciation - Store Equipment 122.1 125.00 27
28 28
29 28 Depreciation Expense - Delivery Equipment 619 250.00 29
30 Accumulated Depreciation - Delivery Equipment 123.1 250.00 30
31 31
32 28 Income Summary 313 12,210.00 32
33 Merchandise Inventory 115 12,210.00 33
34 34
35 28 Merchandise Inventory 115 12,780.00 35
36 Income Summary 313 12,780.00 36
37 37
General Journal Page 16
Date Account Title P.R. Debit Credit
1 Closing entries 1
2 20X1 Feb. 28 Sales 411 12,255.00 2
3 Purchases Returns and Allowances 512 95.00 3
4 Purchase Discount 513 116.30 4
5 Income Summary 313 12,466.30 5
6 6
7 28 Income Summary 313 11,497.30 7
8 Sales Returns and Allowances 412 195.00 8
9 Sales Discounts 413 77.30 9
10 Purchases 511 3,100.00 10
11 Freight in 514 435.00 11
12 Salaries Expense 611 4,450.00 12
13 Rent Expense 612 1,070.00 13
14 Utilities Expense 613 550.00 14
15 Office Supplies Expense 614 350.00 15
16 Store Supplies Expense 615 785.00 16
17 Insurance Expense 616 20.00 17
18 Depreciation Expense - Office equipment 617 90.00 18
19 Depreciation Expense - Store equipment 618 125.00 19
20 Depreciation Expense - Delivery equipment 619 250.00 20
25 25
26 28 Income Summary 313 969.00 26
27 Cindi, Capital 311 969.00 27
28 28
29 28 Cindi, Capital 311 390.00 29
30 Cindi, Drawings 312 390.00 30
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 4, 5, 16, 17

CRP II Use an X instead of a check mark symbol, when needed. Data Entry Cells
4., 5., 16., 17.
Sales Journal Page 26
Date Invoice No. Customer's Name P.R. Acct. Rec. Dr. Sales Cr.
1 20X1 Jan. 2 176 Smitz, Inc X 765.00 1
2 5 177 Henry Galvin X 1,670.00 2
3 17 178 Lee Maddox X 950.00 3
4 23 179 Neagle Co. X 820.00 4
5 25 180 Smitz, Inc X 1,995.00 5
6 Totals 6,200.00 6
7 (112) (411) 7
8 Feb. 6 181 Henry Galvin 112 2,140.00 8
9 12 182 Lee Maddox 112 1,185.00 9
10 22 183 Neagle Co. 112 1,095.00 10
11 25 184 Smitz, Inc 112 1,755.00 11
12 6,175.00 12
13 (112) (411) 13
4., 5., 16., 17.
Purchases Journal Page 10
Date Invoice No. Account Credited P.R. Purchases Dr. Accts. Pay. Cr.
1 20X1 Jan. 7 187 Lemke Brothers X 1,045.00 1
2 14 188 Jones Co. X 2,550.00 2
3 27 192 Jones Co. X 750.00 3
4 Totals 4,345.00 4
5 (511) (211) 5
6 Feb. 2 193 Lemke Brothers X 740.00 6
7 21 195 Lemke Brothers X 940.00 7
8 24 196 Jones Co. X 1,045.00 8
9 Totals 2,725.00 9
10 (511) (211) 10
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 4, 5, 16, 17 Cash Journ.

CRP II Use an X instead of a check mark symbol, when needed. Data Entry Cells
4., 5., 16., 17.
Cash Receipts Journal Page 11
Date Account Credited P.R. General Cr. Sales Cr. Accounts Receivable Cr. Sales Discounts Dr. Cash Dr.
20X1 Jan. 4 Henry Galvin X 1,025.00 20.50 1,004.50
6 Neagle Co. X 1,175.00 23.50 1,151.50
10 Lee Maddox X 755.00 15.10 739.90
12 Smitz, Inc X 765.00 15.30 749.70
15 Henry Galvin X 1,460.00 29.20 1,430.80
15 Cash Sales 411 1,665.00 1,665.00
15 Cindi, Capital 311 3,000.00 3,000.00
26 Stores Supplies 114 110.00 110.00
31 Cash Sales 411 2,445.00 2,445.00
Totals 3,110.00 4,110.00 5,180.00 103.60 12,296.40
(X) (411) (112) (413) (111)
Feb. 3 Lee Maddox X 950.00 950.00
4 Smitz Inc. X 1,920.00 38.40 1,881.60
7 Neagle Co X 820.00 820.00
11 Purchase Returns 512 20.00 20.00
14 Cash Sales 411 3,095.00 3,095.00
16 Henry Galvin X 1,945.00 38.90 1,906.10
17 Office Supplies 614 85.00 85.00
28 Cash Sales 411 2,985.00 2,985.00
Totals 105.00 6,080.00 5,635.00 77.30 11,742.70
(X) (411) (112) (413) (111)
4., 5., 16., 17.
Cash Payments Journal Page 9
Date Ck. No. Account Debited P.R. General Dr. Accounts Payable Dr. Purchases Discounts Cr. Cash Cr.
20X1 Jan. 2 234 Rent 612 1,070.00 1,070.00
8 235 W. Bedford Co. x 1,365.00 27.30 1,337.70
9 236 Wohlers Inc x 975.00 9.75 965.25
11 237 Lemke Brothers x 1,540.00 1,540.00
17 238 Lemke Brothers x 940.00 18.80 921.20
24 239 Jones Co. x 2,550.00 51.00 2,499.00
24 240 Cindi, Drawings 312 205.00 205.00
29 241 Utilities Expense 613 595.00 595.00
31 242 Freight in 514 450.00 450.00
31 243 Salaries 611 4,450.00 4,450.00
Totals 6,770.00 7,370.00 106.85 14,033.15
(X) (211) (513) (111)
Feb. 1 Rent 612 1,070.00 1,070.00
6 Jones Co. x 1,305.00 15.00 1,290.00
9 Purchases 511 375.00 375.00
11 Lemke Brothers x 665.00 13.30 651.70
13 Cindi, Drawings 312 350.00 350.00
15 Wohlers Inc x 4,400.00 88.00 4,312.00
17 W. Bedford Co. x 750.00 750.00
27 Utilities Expense 613 550.00 550.00
28 Freight In 514 435.00 435.00
28 Salaries Expense 611 4,450.00 4,450.00
Totals 7,230.00 7,120.00 116.30 14,233.70
(X) (211) (513) (111)
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 7, 9

CRP II Data Entry Cells
7., 9.
Mills Sporting Goods Store
Work Sheet
For Month Ended January 31, 20X1
Account Title Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 4,823.25 4,823.25 4,823.25
Accounts Receivable 3,690.00 3,690.00 3,690.00
Office Supplies 1,575.00 (a) 745.00 830.00 830.00
Store Supplies 2,360.00 (b) 1,610.00 750.00 750.00
Merchandise Inventory 13,540.00 (h) 12,210.00 (g) 13,540.00 12,210.00 12,210.00
Prepaid Insurance 750.00 © 20.00 730.00 730.00
Office Equipment 13,900.00 13,900.00 11,210.00
Accumulated Depreciation-Office equipment 2,600.00 (d) 90.00 2,690.00
Store Equipment 16,600.00 16,600.00 12,475.00
Accumulated Depreciation - Store Equipment 4,000.00 (e) 125.00 4,125.00
Delivery Equipment 17,700.00 17,700.00 10,450.00
Accumulated Depreciation - Delivery Equipment 7,000.00 (f) 250.00 7,250.00
Account Payable 6,455.00 6,455.00 6,455.00
Cindi Mills, Capital 55,865.00 55,865.00 50,713.25
Cindi Mills, Drawing 205.00 205.00
Income Summary (g) 13,540.00 (h) 12,210.00 1,330.00 1,330.00
Sales 10,310.00 10,310.00 10,310.00
Sales Returns and Allowances 285.00 285.00 285.00
Sales Discounts 103.60 103.60 103.60
Purchases 4,345.00 4,345.00 4,345.00
Purchases Returns and Allowances 105.00 105.00 105.00
Purchases Discounts 106.85 106.85 106.85
Freight in 450.00 450.00 450.00
Salaries Expense 4,450.00 4,450.00 4,450.00
Rent Expense 1,070.00 1,070.00 1,070.00
Utilities Expense 595.00 595.00 595.00
Office Supplies Expense (a) 745.00 745.00 745.00
Store Supplies Expense (b) 1,610.00 1,610.00 1,610.00
Insurance Expense © 20.00 20.00 20.00
Depreciation Expense - Office Equipment (d) 90.00 90.00 90.00
Depreciation Expense - Store Equipment (e) 125.00 125.00 125.00
Depreciation Expense - Delivery Equipment (f) 250.00 250.00 250.00
Totals 86,441.85 86,441.85 28,590.00 28,590.00 86,906.85 86,906.85 15,468.60 10,521.85 57,168.25 57,168.25
Net income/Net Loss 4,946.75
Total 15,423.00 15,468.60
- 0 - 0 - 0
- 0 - 0 - 0
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 8

CRP II Data Entry Cells *
* Enter data in cells as needed.
8.
Mills Sporting Goods Store
Schedule of Accounts Receivable
January 31, 20X1
Lee Maddox 950
Neagle Co. 820
Smitz, Inc 1,920
Smitz, Inc 3,690
Mills Sporting Goods Store
Schedule of Accounts Payable
January 31, 20X1
W. Bedford Co. 750
Jones Co. 1,305
Wohlers, Inc 4,400
6,455
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 12

CRP II Data Entry Cells*
* Enter data in cells as needed.
12. Mills Sporting Goods Store
Post-Closing Trial Balance
January 31, 20X1
ACCOUNT TITLE DEBIT CREDIT
Cash 4,823.25
Accounts Receivable 3,690.00
Office Supplies 830.00
Store Supplies 750.00
Merchandise Inventory 12,210.00
Prepaid Insurance 730.00
Office Equipment 13,900.00
Accumulated Depreciation - Office Equipment 2,690.00
Store Equipment 16,600.00
Accumulated Depreciation - Store Equipment 4,125.00
Delivery Equipment 17,700.00
Accumulated Depreciation - Delivery Equipmnt 7,250.00
Accounts Payable 6,455.00
Cindi, Capital 50,689.00
Totals 71,233.25 71,209.00
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 13

CRP II Data Entry Cells
13. Mills Sporting Goods Store
Income Statement
For Month Ended January 31, 20X1
Revenue:
Sales $ 10,310.00
Less Sales Returns and Allowances $ (285.00)
Less Sales Discount (103.60) (388.60)
Net Sales $ 9,921.40
Less Cost of Goods sold:
Beginning Inventory $ 13,540.00
Add Purchases $ 4,345.00
Less Purchase Returns and Allowances $ (105.00)
Less Purchase Discounts (106.85) (211.85)
$ 4,133.15
Add Freight In 450.00
4,583.15
Goods available for sale $ 18,123.15
Less Ending Inventory (12,210.00)
Cost of goods sold 5,913.15
Gross Profit $ 4,008.25
Operating Expenses:
Selling Expenses:
Store Supplies Expense $ 1,610.00
Depreciation Expense - Store equipment 125.00
Depreciation Expense - Delivery equipment 250.00
Total Selling Expenses $ 1,985.00 1,985.00
General and Administrative Expenses:
Salaries Expense $ 4,450.00
Rent Expense 1,070.00
Utilities Expense 595.00
Office Supplies Expense 745.00
Insurance Expenses 20.00
Depreciation Expense - Office Equipmement 90.00
Total general and Administrative expenses $ 6,970.00
Total Operating Expenses 8,955.00 8,955.00
Net Income $ (4,946.75)
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 14, 15

CRP II Data Entry Cells
14. Mills Sporting Goods Store
Statement of Owner's Equity
For Month Ended January 31, 20X1
Capital, January 1 $ 48,165.00
Add Additional Capital $ 7,700.00
Less Drawings (205.00) 7,495.00
Less Net Loss (4,946.75)
Capital, January 31 $ 50,713.25
15. Mills Sporting Goods Store
Balance Sheet
January 31, 20X1
Assets
Current Assets:
Cash $ 4,823.25
Accounts Receivable 3,690.00
Office Supplies 830.00
Store Supplies 750.00
Merchandise Inventory 12,210.00
Prepaid Insurance 730.00
Total Current Assets $ 23,033.25
Plant Assets:
Office Equipment $ 13,900.00
Less Acc. Depreciation - Office equipment (2,690.00) 11,210.00
Store Equipment $ 16,600.00
Less Acc. Depreciation - Store equipment (4,125.00) 12,475.00
Delivery Equipment $ 17,700.00
Less Acc. Depreciation - Delivery equip. (7,250.00) 10,450.00
Total Plant Assets 34,135.00
Total Assets $ 57,168.25
Liabilities and Owners' equity
Current Liabilities:
Accounts Payable $ 6,455.00
Owners' equity
Cindi, Capital 50,713.25
Total Liabilities and Owners' equity $ 57,168.25
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 19, 21

CRP II Data Entry Cells
19., 21.
Mills Sporting Goods Store
Work Sheet
For Month Ended February 28, 20X1
Account Title Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 2,332.25 2,332.25 2,332.25
Accounts Receivable 4,035.00 4,035.00 4,035.00
Office Supplies 705.00 (a) 350.00 355.00 355.00
Store Supplies 1,060.00 (b) 785.00 275.00 275.00
Merchandise Inventory 12,210.00 (h) 12,780.00 (g) 12,210.00 12,780.00 12,780.00
Prepaid Insurance 730.00 © 20.00 710.00 710.00
Office Equipment 13,900.00 13,900.00 13,900.00
Accumulated Depreciation-Office equipment 2,690.00 (d) 90.00 2,780.00 2,780.00
Store Equipment 19,300.00 19,300.00 19,300.00
Accumulated Depreciation - Store Equipment 4,125.00 (e) 125.00 4,250.00 4,250.00
Delivery Equipment 17,700.00 17,700.00 17,700.00
Accumulated Depreciation - Delivery Equipment 7,250.00 (f) 250.00 7,500.00 7,500.00
Account Payable 4,995.00 4,995.00 4,995.00
Cindi Mills, Capital 50,713.25 50,689.00 51,862.25
Cindi Mills, Drawing 390.00 390.00
Income Summary (g) 12,210.00 (h) 12,780.00 570.00 570.00
Sales 12,255.00 12,255.00 12,255.00
Sales Returns and Allowances 195.00 195.00 195.00
Sales Discounts 77.30 77.30 77.30
Purchases 3,100.00 3,100.00 3,100.00
Purchases Returns and Allowances 95.00 95.00 95.00
Purchases Discounts 116.30 116.30 116.30
Freight in 435.00 435.00 435.00
Salaries Expense 4,450.00 4,450.00 4,450.00
Rent Expense 1,070.00 1,070.00 1,070.00
Utilities Expense 550.00 550.00 550.00
Office Supplies Expense (a) 350.00 350.00 350.00
Store Supplies Expense (b) 785.00 785.00 785.00
Insurance Expense © 20.00 20.00 20.00
Depreciation Expense - Office Equipment (d) 90.00 90.00 90.00
Depreciation Expense - Store Equipment (e) 125.00 125.00 125.00
Depreciation Expense - Delivery Equipment (f) 250.00 250.00 250.00
Totals 82,239.55 82,239.55 26,610.00 26,610.00 83,274.55 83,250.30 11,497.30 13,036.30 71,387.25 71,387.25
Net Income 1,539.00
Totals 13,036.30
- 0
- 0 - 0
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 20

CRP II Data Entry Cells *
* Enter data in cells as needed.
20.
Mills Sporting Goods Store
Schedule of Accounts Receivable
February 28, 20X1
Lee Maddox 1,185
Neagle Co. 1,095
Smitz, Inc 1,755
Totals 4,035
Mills Sporting Goods Store
Schedule of Accounts Payable
February 28, 20X1
W. Bedford Co. 310
Jones Co. 1,045
Lemke Brothers 940
Wohlers Inc 2,700
Totals 4,995
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 24

CRP II Data Entry Cells*
* Enter data in cells as needed.
24. Mills Sporting Goods Store
Post-Closing Trial Balance
February 28, 20X1
ACCOUNT TITLE DEBIT CREDIT
Cash 2,332.25
Accounts Receivable 4,035.00
Office Supplies 355.00
Store Supplies 275.00
Merchandise Inventory 12,780.00
Prepaid Insurance 710.00
Office Equipment 13,900.00
Accumulated Depreciation - Office Equipment 2,780.00
Store Equipment 19,300.00
Accumulated Depreciation - Store Equipment 4,250.00
Delivery Equipment 17,700.00
Accumulated Depreciation - Delivery Equipmnt 7,500.00
Accounts Payable 4,995.00
Cindi, Capital 51,862.25
Totals 71,387.25 71,387.25
- 0
- 0
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 25

CRP II Data Entry Cells
25. Mills Sporting Goods Store
Income Statement
For Month Ended February 28, 20X1
Revenue:
Sales $ 12,255.00
Less Sales Returns and Allowances $ (195.00)
Less Sales Discount (77.30) (272.30)
Net Sales $ 11,982.70
Less Cost of Goods sold:
Beginning Inventory $ 12,210.00
Add Purchases $ 3,100.00
Less Purchase Returns and Allowances $ (95.00)
Less Purchase Discounts (116.30) (211.30)
$ 2,888.70
Add Freight In 435.00
3,323.70
Goods available for sale $ 15,533.70
Less Ending Inventory (12,780.00)
Cost of goods sold 2,753.70
Gross Profit $ 9,229.00
Operating Expenses:
Selling Expenses:
Store Supplies Expense $ 785.00
Depreciation Expense - Store equipment 125.00
Depreciation Expense - Delivery equipment 250.00
Total Selling Expenses 1,160.00
General and Administrative Expenses:
Salaries Expense $ 4,450.00
Rent Expense 1,070.00
Utilities Expense 550.00
Office Supplies Expense 350.00
Insurance Expenses 20.00
Depreciation Expense - Office Equipmement 90.00
Total general and Administrative expenses 6,530.00
Total Operating Expenses 7,690.00
Net Income $ 1,539.00
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

CRP II 26

CRP II Data Entry Cells
26. Mills Sporting Goods Store
Statement of Owner's Equity
For Month Ended February 28, 20X1
Capital, February 1 $ 50,713.25
Add Additional Capital $ - 0
Less Drawings (390.00) -390.00
Add Net income 1,539.00
Capital, January 31 $ 51,862.25
27. Mills Sporting Goods Store
Balance Sheet
February 28, 20X1
Assets
Current Assets:
Cash $ 2,334.00
Accounts Receivable 4,035.00
Office Supplies 355.00
Store Supplies 275.00
Merchandise Inventory 12,780.00
Prepaid Insurance 710.00
Total Current Assets $ 20,489.00
Plant Assets:
Office Equipment $ 13,900.00
Less Acc. Depreciation - Office equip. (2,780.00) $ 11,120.00
Store Equipment $ 19,300.00
Less Acc. Depreciation - Store equipment (4,250.00) 15,050.00
Delivery Equipment 17,700.00
Less Acc. Depreciation - Delivery equip. (7,500.00) 10,200.00
Total Plant Assets 36,370.00
Total Assets $ 56,859.00
Liabilities and Owners' equity
Current Liabilities:
Accounts Payable $ 4,995.00
Owners' equity
Cindi, Capital 51,862.25
Total Liabilities and Owners' equity $ 56,857.25
&LPart II&C© Paradigm Publishing, Inc.&RComprehensive Review Problem II

Sheet1