Make a spreadsheet in Excel for each T Account in the Chart of Accounts. As you

Question

Make a spreadsheet in Excel for each T Account in the Chart of Accounts. As you write each journal and adjusting journal entry make sure that you enter it into the T Account. After all entries have been made calcuate the ending balance in each account.

A-H is Adjusting journal entries.

General Journal H Date Account No. Account Name Debit Credit 72 Wo JE Cos Common Stoc Prepard Rent Pre patd Insurace C menthe 3,4oo Cash 53 500 pu Equipmert Note Payable - Offece Mart ofe Payable-Wells Farao 7 IIoo Re an ?5.ooo Advertrstia expense ? 1200 ash 7/6 | 14200 Inventow Accounts Payale Bas tets Accouyts Paale 16,4,00 . Tl(10 0 Invertory eaal Ex pense Cash Vo JE 2, Doo 13 14. 7hy

Explanation / Answer

CASH A/C DEBIT $ AMT CREDIT $ AMT TO COMMON STOCK 45000 BY PREPAID RENT 9000 TO NOTE PAYABLE 18000 BY PREPAID INSURANCE(9MONTHS) 3600 TO ACCOUNTS RECEIVABLE 4000 BY REFREIGATOR 13000 BY SALES TAX PAYABLE 760 BY DELIVERY VAN 25000 BY SALES TAX PAYABLE 240 BY ADVERTISING EXPENSE 1200 BY SALES TAX PAYABLE 360 BY PREPAID ADVERTISING EXPENSE 300 BY SALES 9500 BY LEGAL EXPENSE 2000 BY SALES 3000 BY ACCOUNTS PAYABLE 850 BY SALES 4500 BY CREDIT CARD EXPENSE 675 BY ACCOUNT PAYABLE 2400 BY ACCOUNTS PAYABLE 21900 BY DIVIDEND 50 INTEREST PAYABLE 22.5 BY NOTE PAYABBLE 452.5 BY CLOSIN BALANCE 4910 85360 85360 COMMON STOCK DEBIT $ AMT CREDIT $ AMT BY CLOSING STOCK 45000 BY CASH 45000 45000 45000 PREPAID RENT A/C DEBIT $ AMT CREDIT $ AMT TO CASH 9000 BY RENT EXPENSE 1500 BY CLOSING BALANCE 7500 9000 9000 PREPAID INSURANCE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 3600 BY INSURANCE EXPENSE 400 BY CLOSING BALANCE 3200 3600 3600 COMPUTER EQUIPMENT A/C DEBIT $ AMT CREDIT $ AMT TO NOTE PAYABLE 2700 BY PROVISION FOR DEPRECIATION 45 BY CLOSING BALANCE 2655 2700 2655 NOTE PAYABLE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 475 BY COMPUTER EQUIPMENT(OFFICE MART) 2700 BY CASH(WELLS FARGO) 18000 TO CLOSING BALANCE 20225 20700 20700 REFREIGARATOR A/C DEBIT $ AMT CREDIT $ AMT TO CASH 13000 BY PROVISION FOR DEPRECIATION 100 BY CLOSING BALANCE 12900 13000 12900 DELIVERY VAN A/C DEBIT $ AMT CREDIT $ AMT TO CASH 25000 BY PROVISION FOR DEPRECIATION 350 BY CLOSING BALANCE 24650 25000 25000 PREPAID ADVERTISING A/C DEBIT $ AMT CREDIT $ AMT TO CASH 300 BY ADVERTISING EXPENESE 275 BY CLOSING BALANCE 25 300 300 CREDIT CARD EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 675 BY PROFIT AND LOSS A/C 675 675 675 LEGAL EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 2000 BY PROFIT AND LOSS A/C 2000 2000 2000 ADVERTISNG EXPENSE A/C TO CASH 1200 TO INVENTORY FRUIT 600 TO INVENTORY BASKET 25 TO PREPAID ADVERTISING 275 BY PROFIT AND LOSS A/C 2100 2100 2100 ACCOUNTS PAYABLE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 850 BY INVENTORY (FRUIT) 16400 TO CASH 2400 BY INVENTORY (BASKETS) 2400 TO CASH 21900 BY SUPPLIES 850 TO CLOSIN BALANCE 250 BY INVENTORY 5500 BY UTILITY EXPENSE 250 25400 25400 INVENTORY A/C DEBIT $ AMT CREDIT $ AMT ACCOUNT PAYABLE 16400 BY COGS 2500 ACCOUNT PAYABLE 2400 BY COGS 250 ACCOUNT PAYABLE 5500 BY ADVERTISING 625 BY COGS 3850 BY COGS 3000 BY COGS 3095 BY CLOSING STOCK 10980 24300 24300 ACCOUNT RECEIVABLE A/C DEBIT $ AMT CREDIT $ AMT TO SALES 4000 TO CASH 4000 4000 4000 COGS A/C DEBIT $ AMT CREDIT $ AMT TO INVENTORY FRUIT 2500 TO INVENTORY BASKETS 250 TO INVENTORY FRUIT 3500 TO INVENTORY BASKETS 350 TO INVENTORY FRUIT 2700 TO INVENTORY BASKETS 300 BY PROFIT AND LOSS ACCOUNT 12695 TO INVENTORY FRUIT 2815 TO INVENTORY BASKETS 280 12695 12695 SALES A/C DEBIT $ AMT CREDIT $ AMT CASH 9500 TO PROFIT AND LOSS ACCOUNT 21000 CASH 3000 CASH 4500 ACCOUNT RECEIVABLE 4000 21000 21000 SALES TAX PAYABLE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 1360 CASH 760 CASH 240 CASH 360 1360 1360 UTILITY EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO ACCOUNT PAYABLE 250 BY PROFIT AND LOSS ACCOUNT 250 250 250 DIVIDEND A/C DEBIT $ AMT CREDIT $ AMT TO CASH 50 BY PROFIT AND LOSS ACCOUNT 50 50 50 SUPPLIES EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO ACCOUNTS PAYABLE 850 TO SUPPLIES PAYABLE 835 BY PROFIT AND LOSS ACCOUNT 1685 1685 1685 SUPPLIES PAYABLE A/C DEBIT $ AMT CREDIT $ AMT BY CLOSING BALANCE 835 BY SUPPLIES 835 835 835 WAGES EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO WAGES PAYABLE 1500 TO CLOSING BALANCE 1500 1500 1500 WAGES PAYABLE A/C DEBIT $ AMT CREDIT $ AMT BY CLOSING BALANCE 1500 BY WAGES EXPENSE 1500 1500 1500 DEPRECIATION A/C DEBIT $ AMT CREDIT $ AMT TO ACCUMATED DEPRECIATION COMPUTER 45 REFRIGARATOR 100 DELIVERY VAN 350 BY PROFIT AND LOSS ACCOUNT 495 495 495 PROVISION FOR DEPRECIATION A/C DEBIT $ AMT CREDIT $ AMT BY ACCUMATED DEPRECIATION COMPUTER 45 TO COMPUTER 45 REFRIGARATOR 100 REFREIGARATOR 100 DELIVERY VAN 350 DELIVERY VAN 350 495 495 INSURANCE EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO PREPAID INSURANCE 400 BY PROFIT AND LOSS A/C 400 400 400 INTEREST EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO INTEREST PAYABLE 120 BY PROFIT AND LOSS A/C 120 120 120 INTEREST PAYABLE A/C DEBIT $ AMT CREDIT $ AMT TO CASH 22.5 BY INTEREST EXPENSE 120 TO PROFIT AND LOSS A/C 120 BY NOTE PAYABLE 22.5 142.5 142.5 RENT EXPENSE A/C DEBIT $ AMT CREDIT $ AMT TO PREPAID RENT 1500 BY PROFIT AND LOSS A/C 1500 1500 1500

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