Hydro Paddle Boards, Inc.

Transcription

1 Hydro Paddle Boards, Inc. CONTENTS General Journal... 1 General Journal (Adjusting Entries)... 6 General Journal (Closing Entries)... 7 General Ledger... 8 Accounts Receivable Ledger Accounts Payable Ledger Job Cost Records Schedule of Accounts Receivable Schedule of Accounts Payable Schedule of Employer Payroll Taxes Allocation Schedule of Unfinished Jobs Work Sheet Income Statement Retained Earnings Statement Balance Sheet Post-Closing Trial Balance Analysis Test iii

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3 GENERAL JOURNAL PAGE 1 & 2* 2 Jan. 2 Factory Overhead 511 5, Rent Expense General 525 2, Cash 110 7, Advertising Expense Print Cash Accounts Payable/Hi-Foam Products Company 210/ 16, Cash , Cash , Sales Discounts Accounts Receivable/Calm Waters Board Corp. 111/ 16, Employees Income Tax Payable , FICA Tax Payable , Federal Unemployment Tax Payable State Unemployment Tax Payable Cash , Income Tax Payable , Cash , Accounts Payable/Coco PVC Company 210/ 21, Cash , Work in Process/Job , Direct Materials 121 7, Work in Process/Job , Employees Income Tax Payable 221 2, FICA Tax Payable 222 1, Salaries Payable , Work in Process/Job , Factory Overhead , Finished Goods , Work in Process/Job , Accounts Receivable/SaltWaterHut.com 111/ 132, Sales , Cost of Goods Sold , Finished Goods , *Note: More entries per page are shown here than students will achieve in provided forms if lines are skipped between entries. 1

4 GENERAL JOURNAL PAGE 2 & 3 2 Jan. 8 Factory Overhead 511 2, Indirect Materials and Factory Supplies 122 2, Property Tax Payable , Cash , Indirect Materials and Factory Supplies 122 4, Accounts Payable/GT Matrix Corporation 210/ 4, Work in Process/Job , Direct Materials , Cash , Sales Discounts Accounts Receivable/Tarpon Sports Ltd. 111/ 21, Accounts Payable/Light Hardware, Inc. 210/ 18, Cash , Work in Process/Job , Direct Materials 121 2, Cash , Accounts Receivable/Go Paddle Sales Company 111/ 14, Work in Process/Job , Direct Materials 121 4, Indirect Materials and Factory Supplies 122 1, Cash 110 1, Work in Process/Job , Employees Income Tax Payable FICA Tax Payable Salaries Payable 211 4, Work in Process/Job , Factory Overhead 511 8, Finished Goods , Work in Process/Job , Cash 110 2, Sales 410 2,

5 GENERAL JOURNAL PAGE 3,4,5 2 Jan. 16 Cost of Goods Sold 501 2, Finished Goods 124 2, Factory Overhead 511 2, Indirect Materials and Factory Supplies 122 2, Work in Process/Job , Direct Materials 121 8, Travel and Entertainment Expense Cash Allowance for Doubtful Accounts 112 4, Accounts Receivable/Blue Runner Sports Dealers 111/ 4, Accounts Receivable/A.J. Outfitters Company 111/ 128, Sales , Cost of Goods Sold , Finished Goods , Direct Materials , Accounts Payable/K.C. Epoxy Supply Company 210/ 20, Work in Process/Job , Direct Materials 121 4, Accounts Payable/GT Matrix Corporation 210/ 4, Cash 110 4, Work in Process/Job , Employees Income Tax Payable FICA Tax Payable Salaries Payable 211 2, Work in Process/Job , Factory Overhead 511 4, Finished Goods , Work in Process/Job , Accounts Receivable/Calm Waters Board Corporation 111/ 124, Sales , Cost of Goods Sold , Finished Goods ,

6 GENERAL JOURNAL PAGE 5 & 6 2 Jan. 26 Work in Process/Job , Employees Income Tax Payable 221 1, FICA Tax Payable Salaries Payable 211 5, Work in Process/Job , Factory Overhead 511 9, Finished Goods , Work in Process/Job , Accounts Receivable/ Four Oceanic Designers 111/ 29, Sales , Cost of Goods Sold , Finished Goods , Accounts Payable/D H20 Corp. 210/ 37, Cash , Cash , Accounts Receivable/HP SUP Inc. 111/ 45, Postage Expense General 523 1, Cash 110 1, Telephone Expense Cash Advertising Expense Internet 513 2, Cash 110 2, Electricity Expense 514 2, Factory Overhead 511 6, Cash 110 8, Work in Process/Job , Employees Income Tax Payable FICA Tax Payable Salaries Payable 211 1, Work in Process/Job , Factory Overhead 511 2,

7 GENERAL JOURNAL PAGE 6 & 7 2 Jan. 31 Work in Process/Job , Employees Income Tax Payable 221 1, FICA Tax Payable Salaries Payable 211 6, Work in Process/Job , Factory Overhead , Work in Process/Job , Employees Income Tax Payable FICA Tax Payable Salaries Payable 211 1, Work in Process/Job , Factory Overhead 511 2, Factory Overhead , Sales Salaries Expense , Officers Salaries Expense , Office Salaries Expense , Employees Income Tax Payable , FICA Tax Payable 222 5, Salaries Payable , Factory Overhead* , Payroll Taxes Expense General 522 6, FICA Tax Payable 222 9, Federal Unemployment Tax Payable 223 1, State Unemployment Tax Payable 224 6, Cash , Accounts Receivable/SaltWaterHut.com 111/ 132, Cash , Accounts Receivable/Fiji Stand-Up Paddle Board Co. 111/ 39, Salaries Payable , Cash , Direct Materials , Accounts Payable/Light Hardware, Inc. 210/ 16, *For a breakdown of calculations, see schedule of employer payroll taxes allocation on page 29. 5

8 GENERAL JOURNAL PAGE Adjusting Entries 1 2 Jan. 31 Factory Overhead 511 2, Insurance Expense Selling Insurance Expense General Prepaid Insurance 131 3, Office Supplies Expense Office Supplies Factory Overhead 511 1, Depreciation Expense Office Equipment Accumulated Depreciation Factory Equipment 162 1, Accumulated Depreciation Office Equipment Factory Overhead Patents Factory Overhead Property Tax Expense Property Tax Payable 225 1, Cost of Goods Sold 501 2, Factory Overhead 511 2, Uncollectible Accounts Expense , Allowance for Doubtful Accounts , Income Tax Expense , Income Tax Payable ,

9 GENERAL JOURNAL PAGE 9 DATE Closing Entries 1 2 Jan. 31 Sales , Income Summary , Income Summary , Sales Discounts Cost of Goods Sold , Advertising Expense Print Advertising Expense Internet 513 2, Electricity Expense 514 2, Insurance Expense Selling Insurance Expense General Sales Salaries Expense , Officers Salaries Expense , Office Salaries Expense , Depreciation Expense Office Equipment Office Supplies Expense Payroll Taxes Expense General 522 6, Postage Expense General 523 1, Property Tax Expense Rent Expense General 525 2, Telephone Expense Travel and Entertainment Expense Uncollectible Accounts Expense , Income Tax Expense , Income Summary , Retained Earnings ,