CHAPTER 9 ACCOUNTING FOR A SERVICE COMPANY INSTRUCTOR NOTE: Assignments that can be graded using the QuickBooks Grade Assistant are designated with a *. To download the QuickBooks Grade Assistant: 1. Go to www.quickbookseducator.info 2. Enter Passcode: DonnaKay 3. Select QB2013 GRADE ASSIST 4. Download QB2013 Grade Assistant Excel files with macros. Instructions are provided on the first worksheet of each QuickBooks Grade Assistant workbook. Students can download Go Digital Excel report templates at www.myquickbooks.me, and then export their reports to the Excel template for grading with the QuickBooks Grade Assistant.
9.2 Exploring QuickBooks with Rock Castle Construction CHAPTER 9 QUICK CHECK CHAPTER 9 Deposit Summary Check No. 501 Check Nos. 502 & 503 Invoice No. 1 Deposit Summary * Trial Balance * Adjusting Entry EXERCISE 9.1 Task 2: Checks * Task 3: Check Detail EXERCISE 9.2 Task 2: Invoices and Deposit Summaries * Task 3: Deposit Detail EXERCISE 9.3 * Task 2: Trial Balance * Task 4: Adjusting Entries * Task 5: Adjusted Trial Balance EXERCISE 9.4 * Task 2: General Ledger * Task 3: Profit & Loss * Task 3: Balance Sheet * Task 3: Statement of Cash Flows EXERCISE 9.6 Task 2: Invoices, Checks & Deposit Summaries * Task 3: Check Detail * Task 3: Deposit Detail * Task 4: Journal * Task 5: Adjusted Trial Balance * Task 5: General Ledger * Task 5: Profit & Loss * Task 5: Balance Sheet * Task 5: Statement of Cash Flows
Chapter 9 Accounting for a Service Company 9.3 EXERCISE 9.7 Schedule C-EZ PROJECT 9 QUICK CHECK PROJECT 9 * Deposit Detail * Check Detail * Trial Balance * Adjusting Entries * Adjusted Trial Balance * General Ledger * Profit & Loss * Balance Sheet * Statement of Cash Flows QUICKBOOKS CASE 9 QUICK CHECK QB CASE 9 * Chart of Accounts * Customer List * Vendor List * Item List Invoices Checks Deposit Summaries * Deposit Detail * Check Detail * Adjusting Entries * Adjusted Trial Balance * General Ledger * Profit & Loss * Balance Sheet * Statement of Cash Flows
9.4 Exploring QuickBooks with Rock Castle Construction CHAPTER 9 DEPOSIT SUMMARY CHAPTER 9 CHECK NO. 501
Chapter 9 Accounting for a Service Company 9.5 CHAPTER 9 CHECK NOS. 502 & 503
9.6 Exploring QuickBooks with Rock Castle Construction CHAPTER 9 INVOICE NO. 1
Chapter 9 Accounting for a Service Company 9.7 CHAPTER 9 DEPOSIT SUMMARY
9.8 Exploring QuickBooks with Rock Castle Construction CHAPTER 9 TRIAL BALANCE Dec 31, 18 Debit Credit YourName Checking 7,200.00 11000 Accounts Receivable 0.00 12000 Undeposited Funds 0.00 14100 Computer:14200 Computer Cost 1,500.00 14400 Equipment:14500 Equipment Cost 500.00 21000 Accounts Payable 0.00 30000 Opening Balance Equity 6,000.00 47900 Sales 3,400.00 64800 Paint Supplies Expense 0.00 67100 Rent Expense 200.00 TOTAL 9,400.00 9,400.00
Chapter 9 Accounting for a Service Company 9.9 CHAPTER 9 ADJUSTING ENTRY Trans # Type Entered/Last Modified Date Num Adj Name Memo Account Debit Credit 11 General Journal 12/06/2012 22:33:57 12/31/2018 ADJ1! 65300 Depr Expense Computer 500.00! 14300 Accumulated Depr Computer 500.00 500.00 500.00 TOTAL 500.00 500.00
9.10 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.1 TASK 2 CHECKS
Chapter 9 Accounting for a Service Company 9.11
9.12 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.13
9.14 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.15 EXERCISE 9.1 TASK 3 CHECK DETAIL Type Num Date Name Item Account Paid Amount Original Amount Check 501 01/01/2018 Cornell Technologies YourName Checking -1,500.00 14200 Computer Cost -1,500.00 1,500.00 TOTAL -1,500.00 1,500.00 Bill Pmt -Check 502 02/04/2018 Brewer Paint Supplies YourName Checking -800.00 Bill 01/03/2018 Beneficio, Katrina:Dining Room 64800 Paint Supplies Expense -300.00 300.00 Bill 01/04/2018 14500 Equipment Cost -500.00 500.00 TOTAL -800.00 800.00 Bill Pmt -Check 503 02/04/2018 Hartzheim Leasing YourName Checking -200.00 Bill 01/04/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 504 02/28/2018 Hartzheim Leasing YourName Checking -200.00 Bill 02/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 505 03/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 03/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 506 04/30/2018 Brewer Paint Supplies YourName Checking -50.00 Bill 04/04/2018 64800 Paint Supplies Expense -50.00 50.00 TOTAL -50.00 50.00
9.16 Exploring QuickBooks with Rock Castle Construction Type Num Date Name Item Account Paid Amount Original Amount Bill Pmt -Check 507 04/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 04/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 508 05/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 05/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 509 06/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 06/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 510 07/30/2018 Brewer Paint Supplies YourName Checking -100.00 Bill 07/01/2018 64800 Paint Supplies Expense -100.00 100.00 TOTAL -100.00 100.00 Bill Pmt -Check 511 07/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 07/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 512 08/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 08/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00
Chapter 9 Accounting for a Service Company 9.17 Type Num Date Name Item Account Paid Amount Original Amount Bill Pmt -Check 513 09/30/2018 Brewer Paint Supplies YourName Checking -75.00 Bill 09/02/2018 64800 Paint Supplies Expense -75.00 75.00 TOTAL -75.00 75.00 Bill Pmt -Check 514 09/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 09/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 515 10/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 10/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 516 11/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 11/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 517 12/30/2018 Hartzheim Leasing YourName Checking -200.00 Bill 12/01/2018 67100 Rent Expense -200.00 200.00 TOTAL -200.00 200.00
9.18 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.2 TASK 2 INVOICES AND DEPOSIT SUMMARIES
Chapter 9 Accounting for a Service Company 9.19
9.20 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.21
9.22 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.23
9.24 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.25
9.26 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.27
9.28 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.29
9.30 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.31
9.32 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.33
9.34 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.35
9.36 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.2 TASK 3 DEPOSIT DETAIL Type Num Date Name Account Amount Deposit 01/01/2018 YourName Checking 6,000.00 YourName 30000 Opening Balance Equity -6,000.00 TOTAL -6,000.00 Deposit 02/04/2018 YourName Checking 3,700.00 Payment 555 02/04/2018 Beneficio, Katrina:Dining Room 12000 Undeposited Funds -3,700.00 TOTAL -3,700.00 Deposit 03/15/2018 YourName Checking 3,440.00 Payment 675 03/15/2018 Beneficio, Katrina:Dining Room 12000 Undeposited Funds -3,440.00 TOTAL -3,440.00 Deposit 04/15/2018 YourName Checking 3,360.00 Payment 690 04/15/2018 Beneficio, Katrina:Dining Room 12000 Undeposited Funds -3,360.00 TOTAL -3,360.00 Deposit 05/15/2018 YourName Checking 3,200.00 Payment 432 05/15/2018 Whalen, Tom:Foyer 12000 Undeposited Funds -3,200.00 TOTAL -3,200.00 Deposit 06/15/2018 YourName Checking 3,000.00 Payment 455 06/15/2018 Whalen, Tom:Foyer 12000 Undeposited Funds -3,000.00 TOTAL -3,000.00 Deposit 07/15/2018 YourName Checking 4,000.00 Payment 733 07/15/2018 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds -4,000.00 TOTAL -4,000.00 Deposit 08/15/2018 YourName Checking 3,600.00 Payment 750 08/15/2018 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds -3,600.00 TOTAL -3,600.00 Deposit 09/15/2018 YourName Checking 3,680.00
Chapter 9 Accounting for a Service Company 9.37 Type Num Date Name Account Amount Payment 782 09/15/2018 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds -3,680.00 TOTAL -3,680.00 Deposit 11/15/2018 YourName Checking 3,400.00 Payment 685 11/15/2018 Whalen, Tom:Screen Porch 12000 Undeposited Funds -3,400.00 TOTAL -3,400.00 Deposit 12/15/2018 YourName Checking 3,480.00 Payment 725 12/15/2018 Whalen, Tom:Screen Porch 12000 Undeposited Funds -3,480.00 TOTAL -3,480.00
9.38 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.3 TASK 2 TRIAL BALANCE Dec 31, 18 Debit Credit YourName Checking 35,935.00 11000 Accounts Receivable 0.00 12000 Undeposited Funds 0.00 14100 Computer:14200 Computer Cost 1,500.00 14100 Computer:14300 Accumulated Depr Computer 500.00 14400 Equipment:14500 Equipment Cost 500.00 21000 Accounts Payable 50.00 30000 Opening Balance Equity 6,000.00 47900 Sales 34,560.00 64800 Paint Supplies Expense 275.00 65300 Depr Expense Computer 500.00 67100 Rent Expense 2,400.00 TOTAL 41,110.00 41,110.00
Chapter 9 Accounting for a Service Company 9.39 EXERCISE 9.3 TASK 4 ADJUSTING ENTRIES Date Num Name Memo Account Debit Credit 12/31/2018 ADJ1 65300 Depr Expense Computer 500.00 14300 Accumulated Depr Computer 500.00 500.00 500.00 12/31/2018 ADJ2 65600 Depr Expense Equipment 100.00 14600 Acc Depr Equipment 100.00 100.00 100.00 TOTAL 600.00 600.00
9.40 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.3 TASK 5 ADJUSTED TRIAL BALANCE Unadjusted Balance Adjustments Adjusted Balance Debit Credit Debit Credit Debit Credit YourName Checking 35,935.00 35,935.00 11000 Accounts Receivable 0.00 0.00 12000 Undeposited Funds 0.00 0.00 14100 Computer:14200 Computer Cost 1,500.00 1,500.00 14100 Computer:14300 Accumulated Depr Computer 500.00 500.00 14400 Equipment:14500 Equipment Cost 500.00 500.00 14400 Equipment:14600 Acc Depr Equipment 100.00 100.00 21000 Accounts Payable 50.00 50.00 30000 Opening Balance Equity 6,000.00 6,000.00 47900 Sales 34,560.00 34,560.00 64800 Paint Supplies Expense 275.00 275.00 65300 Depr Expense Computer 500.00 500.00 65600 Depr Expense Equipment 100.00 100.00 67100 Rent Expense 2,400.00 2,400.00 TOTAL 40,610.00 40,610.00 600.00 600.00 41,210.00 41,210.00
Chapter 9 Accounting for a Service Company 9.41 EXERCISE 9.4 TASK 2 GENERAL LEDGER Type Date Num Adj Name Memo Split Debit Credit Balance YourName Checking 0.00 Deposit 01/01/2018 Deposit 30000 Opening Balance Equity 6,000.00 6,000.00 Check 01/01/2018 501 Cornell Technologies 2002 14200 Computer Cost 1,500.00 4,500.00 Bill Pmt -Check 02/04/2018 502 Brewer Paint Supplies 21000 Accounts Payable 800.00 3,700.00 Bill Pmt -Check 02/04/2018 503 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 3,500.00 Deposit 02/04/2018 Deposit 12000 Undeposited Funds 3,700.00 7,200.00 Bill Pmt -Check 02/28/2018 504 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 7,000.00 Deposit 03/15/2018 Deposit 12000 Undeposited Funds 3,440.00 10,440.00 Bill Pmt -Check 03/30/2018 505 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 10,240.00 Deposit 04/15/2018 Deposit 12000 Undeposited Funds 3,360.00 13,600.00 Bill Pmt -Check 04/30/2018 506 Brewer Paint Supplies 21000 Accounts Payable 50.00 13,550.00 Bill Pmt -Check 04/30/2018 507 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 13,350.00 Deposit 05/15/2018 Deposit 12000 Undeposited Funds 3,200.00 16,550.00 Bill Pmt -Check 05/30/2018 508 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 16,350.00 Deposit 06/15/2018 Deposit 12000 Undeposited Funds 3,000.00 19,350.00 Bill Pmt -Check 06/30/2018 509 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 19,150.00 Deposit 07/15/2018 Deposit 12000 Undeposited Funds 4,000.00 23,150.00 Bill Pmt -Check 07/30/2018 510 Brewer Paint Supplies 21000 Accounts Payable 100.00 23,050.00 Bill Pmt -Check 07/30/2018 511 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 22,850.00 Deposit 08/15/2018 Deposit 12000 Undeposited Funds 3,600.00 26,450.00 Bill Pmt -Check 08/30/2018 512 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 26,250.00 Deposit 09/15/2018 Deposit 12000 Undeposited Funds 3,680.00 29,930.00 Bill Pmt -Check 09/30/2018 513 Brewer Paint Supplies 21000 Accounts Payable 75.00 29,855.00 Bill Pmt -Check 09/30/2018 514 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 29,655.00 Bill Pmt -Check 10/30/2018 515 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 29,455.00 Deposit 11/15/2018 Deposit 12000 Undeposited Funds 3,400.00 32,855.00 Bill Pmt -Check 11/30/2018 516 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 32,655.00 Deposit 12/15/2018 Deposit 12000 Undeposited Funds 3,480.00 36,135.00 Bill Pmt -Check 12/30/2018 517 Hartzheim Leasing 2003 21000 Accounts Payable 200.00 35,935.00 Total YourName Checking 40,860.00 4,925.00 35,935.00 11000 Accounts Receivable 0.00 Invoice 01/31/2018 1 Beneficio, Katrina:Dining Room -SPLIT- 3,700.00 3,700.00 Payment 02/04/2018 555 Beneficio, Katrina:Dining Room 12000 Undeposited Funds 3,700.00 0.00 Invoice 02/28/2018 2 Beneficio, Katrina:Dining Room 47900 Sales 3,440.00 3,440.00 Payment 03/15/2018 675 Beneficio, Katrina:Dining Room 12000 Undeposited Funds 3,440.00 0.00 Invoice 03/31/2018 3 Beneficio, Katrina:Dining Room 47900 Sales 3,360.00 3,360.00 Payment 04/15/2018 690 Beneficio, Katrina:Dining Room 12000 Undeposited Funds 3,360.00 0.00 Invoice 04/30/2018 4 Whalen, Tom:Foyer 47900 Sales 3,200.00 3,200.00 Payment 05/15/2018 432 Whalen, Tom:Foyer 12000 Undeposited Funds 3,200.00 0.00 Invoice 05/31/2018 5 Whalen, Tom:Foyer 47900 Sales 3,000.00 3,000.00 Payment 06/15/2018 455 Whalen, Tom:Foyer 12000 Undeposited Funds 3,000.00 0.00 Invoice 06/30/2018 6 Beneficio, Katrina:Vaulted Kitchen 47900 Sales 4,000.00 4,000.00 Payment 07/15/2018 733 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds 4,000.00 0.00 Invoice 07/31/2018 7 Beneficio, Katrina:Vaulted Kitchen 47900 Sales 3,600.00 3,600.00 Payment 08/15/2018 750 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds 3,600.00 0.00 Invoice 08/31/2018 8 Beneficio, Katrina:Vaulted Kitchen 47900 Sales 3,680.00 3,680.00 Payment 09/15/2018 782 Beneficio, Katrina:Vaulted Kitchen 12000 Undeposited Funds 3,680.00 0.00 Invoice 10/31/2018 9 Whalen, Tom:Screen Porch 47900 Sales 3,400.00 3,400.00 Payment 11/15/2018 685 Whalen, Tom:Screen Porch 12000 Undeposited Funds 3,400.00 0.00 Invoice 11/30/2018 10 Whalen, Tom:Screen Porch 47900 Sales 3,480.00 3,480.00 Payment 12/15/2018 725 Whalen, Tom:Screen Porch 12000 Undeposited Funds 3,480.00 0.00 Total 11000 Accounts Receivable 34,860.00 34,860.00 0.00 12000 Undeposited Funds 0.00 Payment 02/04/2018 555 Beneficio, Katrina:Dining Room 11000 Accounts Receivable 3,700.00 3,700.00 Deposit 02/04/2018 555 Beneficio, Katrina:Dining Room Deposit YourName Checking 3,700.00 0.00 Payment 03/15/2018 675 Beneficio, Katrina:Dining Room 11000 Accounts Receivable 3,440.00 3,440.00 Deposit 03/15/2018 675 Beneficio, Katrina:Dining Room Deposit YourName Checking 3,440.00 0.00 Payment 04/15/2018 690 Beneficio, Katrina:Dining Room 11000 Accounts Receivable 3,360.00 3,360.00 Deposit 04/15/2018 690 Beneficio, Katrina:Dining Room Deposit YourName Checking 3,360.00 0.00 Payment 05/15/2018 432 Whalen, Tom:Foyer 11000 Accounts Receivable 3,200.00 3,200.00 Deposit 05/15/2018 432 Whalen, Tom:Foyer Deposit YourName Checking 3,200.00 0.00 Payment 06/15/2018 455 Whalen, Tom:Foyer 11000 Accounts Receivable 3,000.00 3,000.00 Deposit 06/15/2018 455 Whalen, Tom:Foyer Deposit YourName Checking 3,000.00 0.00 Payment 07/15/2018 733 Beneficio, Katrina:Vaulted Kitchen 11000 Accounts Receivable 4,000.00 4,000.00 Deposit 07/15/2018 733 Beneficio, Katrina:Vaulted Kitchen Deposit YourName Checking 4,000.00 0.00 Payment 08/15/2018 750 Beneficio, Katrina:Vaulted Kitchen 11000 Accounts Receivable 3,600.00 3,600.00 Deposit 08/15/2018 750 Beneficio, Katrina:Vaulted Kitchen Deposit YourName Checking 3,600.00 0.00
9.42 Exploring QuickBooks with Rock Castle Construction Type Date Num Adj Name Memo Split Debit Credit Balance Payment 09/15/2018 782 Beneficio, Katrina:Vaulted Kitchen 11000 Accounts Receivable 3,680.00 3,680.00 Deposit 09/15/2018 782 Beneficio, Katrina:Vaulted Kitchen Deposit YourName Checking 3,680.00 0.00 Payment 11/15/2018 685 Whalen, Tom:Screen Porch 11000 Accounts Receivable 3,400.00 3,400.00 Deposit 11/15/2018 685 Whalen, Tom:Screen Porch Deposit YourName Checking 3,400.00 0.00 Payment 12/15/2018 725 Whalen, Tom:Screen Porch 11000 Accounts Receivable 3,480.00 3,480.00 Deposit 12/15/2018 725 Whalen, Tom:Screen Porch Deposit YourName Checking 3,480.00 0.00 Total 12000 Undeposited Funds 34,860.00 34,860.00 0.00 14100 Computer 0.00 14200 Computer Cost 0.00 Check 01/01/2018 501 Cornell Technologies 2002 YourName Checking 1,500.00 1,500.00 Total 14200 Computer Cost 1,500.00 0.00 1,500.00 14300 Accumulated Depr Computer 0.00 General Journal 12/31/2018 ADJ1! 65300 Depr Expense Computer 500.00-500.00 Total 14300 Accumulated Depr Computer 0.00 500.00-500.00 Total 14100 Computer 1,500.00 500.00 1,000.00 14400 Equipment 0.00 14500 Equipment Cost 0.00 Bill 01/04/2018 Brewer Paint Supplies 21000 Accounts Payable 500.00 500.00 Total 14500 Equipment Cost 500.00 0.00 500.00 14600 Acc Depr Equipment 0.00 General Journal 12/31/2018 ADJ2! 65600 Depr Expense Equipment 100.00-100.00 Total 14600 Acc Depr Equipment 0.00 100.00-100.00 Total 14400 Equipment 500.00 100.00 400.00 21000 Accounts Payable 0.00 Bill 01/03/2018 Brewer Paint Supplies 64800 Paint Supplies Expense 300.00-300.00 Bill 01/04/2018 Brewer Paint Supplies 14500 Equipment Cost 500.00-800.00 Bill 01/04/2018 Hartzheim Leasing 67100 Rent Expense 200.00-1,000.00 Bill 02/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-1,200.00 Bill Pmt -Check 02/04/2018 502 Brewer Paint Supplies YourName Checking 800.00-400.00 Bill Pmt -Check 02/04/2018 503 Hartzheim Leasing 2003 YourName Checking 200.00-200.00 Bill Pmt -Check 02/28/2018 504 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 03/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 03/30/2018 505 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 04/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill 04/04/2018 Brewer Paint Supplies 64800 Paint Supplies Expense 50.00-250.00 Bill Pmt -Check 04/30/2018 506 Brewer Paint Supplies YourName Checking 50.00-200.00 Bill Pmt -Check 04/30/2018 507 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 05/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 05/30/2018 508 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 06/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 06/30/2018 509 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 07/01/2018 Brewer Paint Supplies 64800 Paint Supplies Expense 100.00-100.00 Bill 07/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-300.00 Bill Pmt -Check 07/30/2018 510 Brewer Paint Supplies YourName Checking 100.00-200.00 Bill Pmt -Check 07/30/2018 511 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 08/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 08/30/2018 512 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 09/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill 09/02/2018 Brewer Paint Supplies 64800 Paint Supplies Expense 75.00-275.00 Bill Pmt -Check 09/30/2018 513 Brewer Paint Supplies YourName Checking 75.00-200.00 Bill Pmt -Check 09/30/2018 514 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 10/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 10/30/2018 515 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 11/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill Pmt -Check 11/30/2018 516 Hartzheim Leasing 2003 YourName Checking 200.00 0.00 Bill 12/01/2018 Hartzheim Leasing 67100 Rent Expense 200.00-200.00 Bill 12/20/2018 Brewer Paint Supplies 64800 Paint Supplies Expense 50.00-250.00 Bill Pmt -Check 12/30/2018 517 Hartzheim Leasing 2003 YourName Checking 200.00-50.00 Total 21000 Accounts Payable 3,425.00 3,475.00-50.00 30000 Opening Balance Equity 0.00 Deposit 01/01/2018 1001 YourName Invested $6,000 in business YourName Checking 6,000.00-6,000.00
Chapter 9 Accounting for a Service Company 9.43 Type Date Num Adj Name Memo Split Debit Credit Balance Total 30000 Opening Balance Equity 0.00 6,000.00-6,000.00 47900 Sales 0.00 Invoice 01/31/2018 1 Beneficio, Katrina:Dining Room -MULTIPLE- 11000 Accounts Receivable 3,400.00-3,400.00 Invoice 02/28/2018 2 Beneficio, Katrina:Dining Room Labor: Mural Painting 11000 Accounts Receivable 3,440.00-6,840.00 Invoice 03/31/2018 3 Beneficio, Katrina:Dining Room Labor: Mural Painting 11000 Accounts Receivable 3,360.00-10,200.00 Invoice 04/30/2018 4 Whalen, Tom:Foyer Labor: Faux Painting 11000 Accounts Receivable 3,200.00-13,400.00 Invoice 05/31/2018 5 Whalen, Tom:Foyer Labor: Faux Painting 11000 Accounts Receivable 3,000.00-16,400.00 Invoice 06/30/2018 6 Beneficio, Katrina:Vaulted Kitchen Labor: Mural Painting 11000 Accounts Receivable 4,000.00-20,400.00 Invoice 07/31/2018 7 Beneficio, Katrina:Vaulted Kitchen Labor: Mural Painting 11000 Accounts Receivable 3,600.00-24,000.00 Invoice 08/31/2018 8 Beneficio, Katrina:Vaulted Kitchen Labor: Mural Painting 11000 Accounts Receivable 3,680.00-27,680.00 Invoice 10/31/2018 9 Whalen, Tom:Screen Porch Labor: Mural Painting 11000 Accounts Receivable 3,400.00-31,080.00 Invoice 11/30/2018 10 Whalen, Tom:Screen Porch Labor: Mural Painting 11000 Accounts Receivable 3,480.00-34,560.00 Total 47900 Sales 0.00 34,560.00-34,560.00 64800 Paint Supplies Expense 0.00 Bill 01/03/2018 Beneficio, Katrina:Dining Room 21000 Accounts Payable 300.00 300.00 Invoice 01/31/2018 1 Beneficio, Katrina:Dining Room 11000 Accounts Receivable 300.00 0.00 Bill 04/04/2018 Brewer Paint Supplies 21000 Accounts Payable 50.00 50.00 Bill 07/01/2018 Brewer Paint Supplies 21000 Accounts Payable 100.00 150.00 Bill 09/02/2018 Brewer Paint Supplies 21000 Accounts Payable 75.00 225.00 Bill 12/20/2018 Brewer Paint Supplies 21000 Accounts Payable 50.00 275.00 Total 64800 Paint Supplies Expense 575.00 300.00 275.00 65300 Depr Expense Computer 0.00 General Journal 12/31/2018 ADJ1! 14300 Accumulated Depr Computer 500.00 500.00 Total 65300 Depr Expense Computer 500.00 0.00 500.00 65600 Depr Expense Equipment 0.00 General Journal 12/31/2018 ADJ2! 14600 Acc Depr Equipment 100.00 100.00 Total 65600 Depr Expense Equipment 100.00 0.00 100.00 67100 Rent Expense 0.00 Bill 01/04/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 200.00 Bill 02/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 400.00 Bill 03/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 600.00 Bill 04/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 800.00 Bill 05/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 1,000.00 Bill 06/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 1,200.00 Bill 07/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 1,400.00 Bill 08/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 1,600.00 Bill 09/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 1,800.00 Bill 10/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 2,000.00 Bill 11/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 2,200.00 Bill 12/01/2018 Hartzheim Leasing Van lease 21000 Accounts Payable 200.00 2,400.00 Total 67100 Rent Expense 2,400.00 0.00 2,400.00 TOTAL 119,580.00 119,580.00 0.00
9.44 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.4 TASK 3 PROFIT & LOSS Jan - Dec 18 Ordinary Income/Expense Income 47900 Sales 34,560.00 Total Income 34,560.00 Gross Profit 34,560.00 Expense 64800 Paint Supplies Expense 275.00 65300 Depr Expense Computer 500.00 65600 Depr Expense Equipment 100.00 67100 Rent Expense 2,400.00 Total Expense 3,275.00 Net Ordinary Income 31,285.00 Net Income 31,285.00
Chapter 9 Accounting for a Service Company 9.45 EXERCISE 9.4 TASK 3 BALANCE SHEET Dec 31, 18 ASSETS Current Assets Checking/Savings YourName Checking 35,935.00 Total Checking/Savings 35,935.00 Total Current Assets 35,935.00 Fixed Assets 14100 Computer 14200 Computer Cost 1,500.00 14300 Accumulated Depr Computer -500.00 Total 14100 Computer 1,000.00 14400 Equipment 14500 Equipment Cost 500.00 14600 Acc Depr Equipment -100.00 Total 14400 Equipment 400.00 Total Fixed Assets 1,400.00 TOTAL ASSETS 37,335.00 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 21000 Accounts Payable 50.00 Total Accounts Payable 50.00 Total Current Liabilities 50.00 Total Liabilities 50.00 Equity 30000 Opening Balance Equity 6,000.00 Net Income 31,285.00 Total Equity 37,285.00 TOTAL LIABILITIES & EQUITY 37,335.00
9.46 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.4 TASK 3 STATEMENT OF CASH FLOWS Jan - Dec 18 OPERATING ACTIVITIES Net Income 31,285.00 Adjustments to reconcile Net Income to net cash provided by operations: 21000 Accounts Payable 50.00 Net cash provided by Operating Activities 31,335.00 INVESTING ACTIVITIES 14100 Computer:14200 Computer Cost -1,500.00 14100 Computer:14300 Accumulated Depr Computer 500.00 14400 Equipment:14500 Equipment Cost -500.00 14400 Equipment:14600 Acc Depr Equipment 100.00 Net cash provided by Investing Activities -1,400.00 FINANCING ACTIVITIES 30000 Opening Balance Equity 6,000.00 Net cash provided by Financing Activities 6,000.00 Net cash increase for period 35,935.00 Cash at end of period 35,935.00
Chapter 9 Accounting for a Service Company 9.47 EXERCISE 9.6 TASK 2 INVOICES, CHECKS & DEPOSIT SUMMARIES
9.48 Exploring QuickBooks with Rock Castle Construction
Chapter 9 Accounting for a Service Company 9.49
9.50 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.6 TASK 3 CHECK DETAIL Type Num Date Name Item Account Paid Amount Original Amount Check 5001 01/02/2018 Blumer Cleaning Supplies YourName Checking -900.00 14500 Cleaning Equipment Cost -900.00 900.00 TOTAL -900.00 900.00 Bill Pmt -Check 5002 01/20/2018 Blumer Cleaning Supplies YourName Checking -100.00 Bill 01/05/2018 64800 Supplies Expense -100.00 100.00 TOTAL -100.00 100.00
Chapter 9 Accounting for a Service Company 9.51 EXERCISE 9.6 TASK 3 DEPOSIT DETAIL Type Num Date Name Account Amount Deposit 01/01/2018 YourName Checking 5,000.00 Ashley Villa 30000 Opening Balance Equity -5,000.00 TOTAL -5,000.00 Deposit 01/29/2018 YourName Checking 1,000.00 Payment 580 01/29/2018 Dent, Thomas:Oriental Rugs 12000 Undeposited Funds -1,000.00 TOTAL -1,000.00
9.52 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.6 TASK 4 JOURNAL Trans # Type Date Num Adj Name Memo Account Debit Credit 1 Deposit 01/01/2018 Deposit YourName Checking 5,000.00 Ashley Villa Deposit 30000 Opening Balance Equity 5,000.00 5,000.00 5,000.00 2 Check 01/02/2018 5001 Blumer Cleaning Supplies 2004 YourName Checking 900.00 Blumer Cleaning Supplies 2004 14500 Cleaning Equipment Cost 900.00 900.00 900.00 3 Bill 01/05/2018 Blumer Cleaning Supplies 21000 Accounts Payable 100.00 Blumer Cleaning Supplies 64800 Supplies Expense 100.00 100.00 100.00 4 Invoice 01/09/2018 1 Dent, Thomas:Oriental Rugs 11000 Accounts Receivable 1,000.00 Dent, Thomas:Oriental Rugs -MULTIPLE- 47900 Sales 1,000.00 1,000.00 1,000.00 5 Bill Pmt -Check 01/20/2018 5002 Blumer Cleaning Supplies 2004 YourName Checking 100.00 Blumer Cleaning Supplies 2004 21000 Accounts Payable 100.00 100.00 100.00 6 Payment 01/29/2018 580 Dent, Thomas:Oriental Rugs 12000 Undeposited Funds 1,000.00 Dent, Thomas:Oriental Rugs 11000 Accounts Receivable 1,000.00 1,000.00 1,000.00 7 Deposit 01/29/2018 Deposit YourName Checking 1,000.00 Dent, Thomas:Oriental Rugs Deposit 12000 Undeposited Funds 1,000.00 1,000.00 1,000.00 8 General Journal 01/31/2018 ADJ1! 62400 Depreciation Expense 25.00! 14600 Acc Depr Cleaning Equipment 25.00 25.00 25.00 TOTAL 9,125.00 9,125.00
Chapter 9 Accounting for a Service Company 9.53 EXERCISE 9.6 TASK 5 ADJUSTED TRIAL BALANCE Unadjusted Balance Adjustments Adjusted Balance Debit Credit Debit Credit Debit Credit YourName Checking 5,000.00 5,000.00 11000 Accounts Receivable 0.00 0.00 12000 Undeposited Funds 0.00 0.00 14400 Cleaning Equipment:14500 Cleaning Equipment Cost 900.00 900.00 14400 Cleaning Equipment:14600 Acc Depr Cleaning Equipment 25.00 25.00 21000 Accounts Payable 0.00 0.00 30000 Opening Balance Equity 5,000.00 5,000.00 47900 Sales 1,000.00 1,000.00 62400 Depreciation Expense 25.00 25.00 64800 Supplies Expense 100.00 100.00 TOTAL 6,000.00 6,000.00 25.00 25.00 6,025.00 6,025.00
9.54 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.6 TASK 5 GENERAL LEDGER Type Date Num Adj Name Memo Split Debit Credit Balance YourName Checking 0.00 Deposit 01/01/2018 Deposit 30000 Opening Balance Equity 5,000.00 5,000.00 Check 01/02/2018 5001 Blumer Cleaning Supplies 2004 14500 Cleaning Equipment Cost 900.00 4,100.00 Bill Pmt -Check 01/20/2018 5002 Blumer Cleaning Supplies 2004 21000 Accounts Payable 100.00 4,000.00 Deposit 01/29/2018 Deposit 12000 Undeposited Funds 1,000.00 5,000.00 Total YourName Checking 6,000.00 1,000.00 5,000.00 11000 Accounts Receivable 0.00 Invoice 01/09/2018 1 Dent, Thomas:Oriental Rugs -SPLIT- 1,000.00 1,000.00 Payment 01/29/2018 580 Dent, Thomas:Oriental Rugs 12000 Undeposited Funds 1,000.00 0.00 Total 11000 Accounts Receivable 1,000.00 1,000.00 0.00 12000 Undeposited Funds 0.00 Payment 01/29/2018 580 Dent, Thomas:Oriental Rugs 11000 Accounts Receivable 1,000.00 1,000.00 Deposit 01/29/2018 580 Dent, Thomas:Oriental Rugs Deposit YourName Checking 1,000.00 0.00 Total 12000 Undeposited Funds 1,000.00 1,000.00 0.00 14400 Cleaning Equipment 0.00 14500 Cleaning Equipment Cost 0.00 Check 01/02/2018 5001 Blumer Cleaning Supplies 2004 YourName Checking 900.00 900.00 Total 14500 Cleaning Equipment Cost 900.00 0.00 900.00 14600 Acc Depr Cleaning Equipment 0.00 General Journal 01/31/2018 ADJ1! 62400 Depreciation Expense 25.00-25.00 Total 14600 Acc Depr Cleaning Equipment 0.00 25.00-25.00 Total 14400 Cleaning Equipment 900.00 25.00 875.00 21000 Accounts Payable 0.00 Bill 01/05/2018 Blumer Cleaning Supplies 64800 Supplies Expense 100.00-100.00 Bill Pmt -Check 01/20/2018 5002 Blumer Cleaning Supplies 2004 YourName Checking 100.00 0.00 Total 21000 Accounts Payable 100.00 100.00 0.00 30000 Opening Balance Equity 0.00 Deposit 01/01/2018 Ashley Villa Deposit YourName Checking 5,000.00-5,000.00 Total 30000 Opening Balance Equity 0.00 5,000.00-5,000.00 47900 Sales 0.00 Invoice 01/09/2018 1 Dent, Thomas:Oriental Rugs -MULTIPLE- 11000 Accounts Receivable 1,000.00-1,000.00 Total 47900 Sales 0.00 1,000.00-1,000.00 62400 Depreciation Expense 0.00 General Journal 01/31/2018 ADJ1! 14600 Acc Depr Cleaning Equipment 25.00 25.00 Total 62400 Depreciation Expense 25.00 0.00 25.00 64800 Supplies Expense 0.00 Bill 01/05/2018 Blumer Cleaning Supplies 21000 Accounts Payable 100.00 100.00 Total 64800 Supplies Expense 100.00 0.00 100.00 TOTAL 9,125.00 9,125.00 0.00
Chapter 9 Accounting for a Service Company 9.55 EXERCISE 9.6 TASK 5 PROFIT & LOSS Jan 18 Ordinary Income/Expense Income 47900 Sales 1,000.00 Total Income 1,000.00 Gross Profit 1,000.00 Expense 62400 Depreciation Expense 25.00 64800 Supplies Expense 100.00 Total Expense 125.00 Net Ordinary Income 875.00 Net Income 875.00
9.56 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.6 TASK 5 BALANCE SHEET Jan 31, 18 ASSETS Current Assets Checking/Savings YourName Checking 5,000.00 Total Checking/Savings 5,000.00 Total Current Assets 5,000.00 Fixed Assets 14400 Cleaning Equipment 14500 Cleaning Equipment Cost 900.00 14600 Acc Depr Cleaning Equipment -25.00 Total 14400 Cleaning Equipment 875.00 Total Fixed Assets 875.00 TOTAL ASSETS 5,875.00 LIABILITIES & EQUITY Equity 30000 Opening Balance Equity 5,000.00 Net Income 875.00 Total Equity 5,875.00 TOTAL LIABILITIES & EQUITY 5,875.00
Chapter 9 Accounting for a Service Company 9.57 EXERCISE 9.6 TASK 5 STATEMENT OF CASH FLOWS Jan 18 OPERATING ACTIVITIES Net Income 875.00 Net cash provided by Operating Activities 875.00 INVESTING ACTIVITIES 14400 Cleaning Equipment:14500 Cleaning Equipment Cost -900.00 14400 Cleaning Equipment:14600 Acc Depr Cleaning Equipment 25.00 Net cash provided by Investing Activities -875.00 FINANCING ACTIVITIES 30000 Opening Balance Equity 5,000.00 Net cash provided by Financing Activities 5,000.00 Net cash increase for period 5,000.00 Cash at end of period 5,000.00
9.58 Exploring QuickBooks with Rock Castle Construction EXERCISE 9.7 SCHEDULE C-EZ SCHEDULE C-EZ (Form 1040) Department of the Treasury Internal Revenue Service (99) Name of proprietor Net Profit From Business (Sole Proprietorship) Partnerships, joint ventures, etc., generally must file Form 1065 or 1065-B. Attach to Form 1040, 1040NR, or 1041. See instructions on page 2. OMB No. 1545-0074 2013 Attachment Sequence No. 09A Social security number (SSN) Part I General Information You May Use Schedule C-EZ Instead of Schedule C Only If You: Had business expenses of $5,000 or less. Use the cash method of accounting. Did not have an inventory at any time during the year. Did not have a net loss from your business. Had only one business as either a sole proprietor, qualified joint venture, or statutory employee. And You: Had no employees during the year. Are not required to file Form 4562, Depreciation and Amortization, for this business. See the instructions for Schedule C, line 13, to find out if you must file. Do not deduct expenses for business use of your home. Do not have prior year unallowed passive activity losses from this business. A Principal business or profession, including product or service B Enter business code (see page 2) C Business name. If no separate business name, leave blank. D Enter your EIN (see page 2) E Business address (including suite or room no.). Address not required if same as on page 1 of your tax return. City, town or post office, state, and ZIP code F Did you make any payments in 2013 that would require you to file Form(s) 1099? (see the Schedule C instructions).............................. Yes No G If Yes, did you or will you file required Forms 1099?................. Yes No Part II Figure Your Net Profit 1 Gross receipts. Caution. If this income was reported to you on Form W-2 and the Statutory employee box on that form was checked, see Statutory Employees in the instructions for Schedule C, line 1, and check here.................. 1 2 Total expenses (see page 2). If more than $5,000, you must use Schedule C....... 2 3 Net profit. Subtract line 2 from line 1. If less than zero, you must use Schedule C. Enter on both Form 1040, line 12, and Schedule SE, line 2, or on Form 1040NR, line 13 and Schedule SE, line 2 (see instructions). (Statutory employees, do not report this amount on Schedule SE, line 2.) Estates and trusts, enter on Form 1041, line 3................. 3 Part III Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 2. 4 When did you place your vehicle in service for business purposes? (month, day, year). 5 Of the total number of miles you drove your vehicle during 2013, enter the number of miles you used your vehicle for: a Business b Commuting (see page 2) c Other 6 Was your vehicle available for personal use during off-duty hours?............. Yes No 7 Do you (or your spouse) have another vehicle available for personal use?........... Yes No 8a Do you have evidence to support your deduction?.................. Yes No b If Yes, is the evidence written?........................ Yes No For Paperwork Reduction Act Notice, see the separate instructions for Schedule C (Form 1040). Cat. No. 14374D Schedule C-EZ (Form 1040) 2013
Chapter 9 Accounting for a Service Company 9.59 Schedule C-EZ (Form 1040) 2013 Page 2 Instructions Future developments. For the latest information about developments related to Schedule C-EZ (Form 1040) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/schedulecez.! CAUTION Before you begin, see General Instructions in the 2013 Instructions for Schedule C. You can use Schedule C-EZ instead of Schedule C if you operated a business or practiced a profession as a sole proprietorship or qualified joint venture, or you were a statutory employee and you have met all the requirements listed in Schedule C-EZ, Part I. For more information on electing to be taxed as a qualified joint venture (including the possible social security benefits of this election), see Qualified Joint Venture in the instructions for Schedule C. You can also go to IRS.gov and enter "qualified joint venture" in the search box. Line A Describe the business or professional activity that provided your principal source of income reported on line 1. Give the general field or activity and the type of product or service. Line B Enter the six-digit code that identifies your principal business or professional activity. See the instructions for Schedule C for the list of codes. Line D Enter on line D the employer identification number (EIN) that was issued to you and in your name as a sole proprietor. If you are filing Form 1041, enter the EIN issued to the estate or trust. Do not enter your SSN. Do not enter another taxpayer s EIN (for example, from any Forms 1099-MISC that you received). If you are the sole owner of a limited liability company (LLC), do not enter on line D the EIN issued to the LLC, if any. If you do not have an EIN, leave line D blank. You need an EIN only if you have a qualified retirement plan or are required to file an employment, excise, alcohol, tobacco, or firearms tax return, are a payer of gambling winnings, or are filing Form 1041 for an estate or trust. If you need an EIN, see the Instructions for Form SS-4. Line E Enter your business address. Show a street address instead of a box number. Include the suite or room number, if any. Line F See the instructions for line I in the instructions for Schedule C to help determine if you are required to file any Forms 1099. Line 1 Enter gross receipts from your trade or business. Include amounts you received in your trade or business that were properly shown on Form 1099-MISC. If the total amounts that were reported in box 7 of Forms 1099-MISC are more than the total you are reporting on line 1, attach a statement explaining the difference. You must show all items of taxable income actually or constructively received during the year (in cash, property, or services). Income is constructively received when it is credited to your account or set aside for you to use. Do not offset this amount by any losses. Line 2 Enter the total amount of all deductible business expenses you actually paid during the year. Examples of these expenses include advertising, car and truck expenses, commissions and fees, insurance, interest, legal and professional services, office expenses, rent or lease expenses, repairs and maintenance, supplies, taxes, travel, the allowable percentage of business meals and entertainment, and utilities (including telephone). For details, see the instructions for Schedule C, Parts II and V. You can use the optional worksheet below to record your expenses. Enter on lines b through f the type and amount of expenses not included on line a. If you claim car or truck expenses, be sure to complete Schedule C-EZ, Part III. Line 3 Nonresident aliens using Form 1040NR should also enter the total on Schedule SE, line 2, if you are covered under the U.S. social security system due to an international social security agreement currently in effect. See the Schedule SE instructions for information on international social security agreements. Line 5b Generally, commuting is travel between your home and a work location. If you converted your vehicle during the year from personal to business use (or vice versa), enter your commuting miles only for the period you drove your vehicle for business. For information on certain travel that is considered a business expense rather than commuting, see the Instructions for Form 2106. Optional Worksheet for Line 2 (keep a copy for your records) a Deductible meals and entertainment (see the instructions for Schedule C, line 24b)....... a b c d e f b c d e f g Total. Add lines a through f. Enter here and on line 2................ g Schedule C-EZ (Form 1040) 2013
9.60 Exploring QuickBooks with Rock Castle Construction PROJECT 9 DEPOSIT DETAIL Type Num Date Name Account Amount Deposit 01/01/2018 YourName Checking 5,000.00 Dominic Leonardo 30000 Opening Balance Equity -5,000.00 TOTAL -5,000.00 Deposit 01/20/2018 YourName Checking 800.00 Payment 589 01/20/2018 Redeker Bed & Breakfast 12000 Undeposited Funds -800.00 TOTAL -800.00 Deposit 01/22/2018 YourName Checking 650.00 Payment 935 01/22/2018 Etzkin Realty 12000 Undeposited Funds -650.00 TOTAL -650.00 Deposit 01/23/2018 YourName Checking 500.00 Payment 1245 01/23/2018 Holcomb Health Foods 12000 Undeposited Funds -500.00 TOTAL -500.00 Deposit 01/28/2018 YourName Checking 900.00 Payment 876 01/28/2018 Etzkin Realty 12000 Undeposited Funds -900.00 TOTAL -900.00
Chapter 9 Accounting for a Service Company 9.61 PROJECT 9 CHECK DETAIL Type Num Date Name Item Account Paid Amount Original Amount Bill Pmt -Check 101 01/01/2018 Pitts Leasing YourName Checking -800.00 Bill 01/01/2018 67100 Rent Expense -800.00 800.00 TOTAL -800.00 800.00 Bill Pmt -Check 102 01/20/2018 Jackson Computer Services YourName Checking -100.00 Bill 01/20/2018 64900 Office Supplies -100.00 100.00 TOTAL -100.00 100.00 Bill Pmt -Check 103 01/24/2018 Jackson Computer Services YourName Checking -200.00 Bill 01/24/2018 64900 Office Supplies -200.00 200.00 TOTAL -200.00 200.00 Bill Pmt -Check 104 01/31/2018 Jackson Computer Services YourName Checking -2,100.00 Bill 01/02/2018 15000 Furniture and Equipment -2,100.00 2,100.00 TOTAL -2,100.00 2,100.00
9.62 Exploring QuickBooks with Rock Castle Construction PROJECT 9 TRIAL BALANCE Jan 31, 18 Debit Credit YourName Checking 4,650.00 11000 Accounts Receivable 1,520.00 12000 Undeposited Funds 0.00 15000 Furniture and Equipment 2,650.00 20000 Accounts Payable 550.00 30000 Opening Balance Equity 5,000.00 47900 Sales 4,370.00 64900 Office Supplies 300.00 67100 Rent Expense 800.00 TOTAL 9,920.00 9,920.00
Chapter 9 Accounting for a Service Company 9.63 PROJECT 9 ADJUSTING ENTRIES Date Num Name Memo Account Debit Credit 01/31/2018 ADJ1 62400 Depreciation Expense 87.50 17000 Accumulated Depreciation 87.50 87.50 87.50 01/31/2018 ADJ2 62400 Depreciation Expense 15.28 17000 Accumulated Depreciation 15.28 15.28 15.28 01/31/2018 ADJ3 13000 Office Supplies on Hand 60.00 64900 Office Supplies 60.00 60.00 60.00 TOTAL 162.78 162.78
9.64 Exploring QuickBooks with Rock Castle Construction PROJECT 9 ADJUSTED TRIAL BALANCE Unadjusted Balance Adjustments Adjusted Balance Debit Credit Debit Credit Debit Credit YourName Checking 4,650.00 4,650.00 11000 Accounts Receivable 1,520.00 1,520.00 12000 Undeposited Funds 0.00 0.00 13000 Office Supplies on Hand 60.00 60.00 15000 Furniture and Equipment 2,650.00 2,650.00 17000 Accumulated Depreciation 102.78 102.78 20000 Accounts Payable 550.00 550.00 30000 Opening Balance Equity 5,000.00 5,000.00 47900 Sales 4,370.00 4,370.00 62400 Depreciation Expense 102.78 102.78 64900 Office Supplies 300.00 60.00 240.00 67100 Rent Expense 800.00 800.00 TOTAL 9,920.00 9,920.00 162.78 162.78 10,022.78 10,022.78
Chapter 9 Accounting for a Service Company 9.65 PROJECT 9 GENERAL LEDGER Type Date Num Adj Name Memo Split Debit Credit Balance YourName Checking 0.00 Deposit 01/01/2018 Deposit 30000 Opening Balance Equity 5,000.00 5,000.00 Bill Pmt -Check 01/01/2018 101 Pitts Leasing 2002 20000 Accounts Payable 800.00 4,200.00 Bill Pmt -Check 01/20/2018 102 Jackson Computer Services 2001 20000 Accounts Payable 100.00 4,100.00 Deposit 01/20/2018 Deposit 12000 Undeposited Funds 800.00 4,900.00 Deposit 01/22/2018 Deposit 12000 Undeposited Funds 650.00 5,550.00 Deposit 01/23/2018 Deposit 12000 Undeposited Funds 500.00 6,050.00 Bill Pmt -Check 01/24/2018 103 Jackson Computer Services 2001 20000 Accounts Payable 200.00 5,850.00 Deposit 01/28/2018 Deposit 12000 Undeposited Funds 900.00 6,750.00 Bill Pmt -Check 01/31/2018 104 Jackson Computer Services 2001 20000 Accounts Payable 2,100.00 4,650.00 Total YourName Checking 7,850.00 3,200.00 4,650.00 11000 Accounts Receivable 0.00 Invoice 01/06/2018 1 Redeker Bed & Breakfast -SPLIT- 800.00 800.00 Invoice 01/08/2018 2 Etzkin Realty -SPLIT- 650.00 1,450.00 Invoice 01/10/2018 3 Holcomb Health Foods 47900 Sales 500.00 1,950.00 Invoice 01/15/2018 4 Etzkin Realty 47900 Sales 900.00 2,850.00 Payment 01/20/2018 589 Redeker Bed & Breakfast 12000 Undeposited Funds 800.00 2,050.00 Invoice 01/22/2018 5 Redeker Bed & Breakfast 47900 Sales 600.00 2,650.00 Payment 01/22/2018 935 Etzkin Realty 12000 Undeposited Funds 650.00 2,000.00 Payment 01/23/2018 1245 Holcomb Health Foods 12000 Undeposited Funds 500.00 1,500.00 Invoice 01/27/2018 6 Holcomb Health Foods -SPLIT- 920.00 2,420.00 Payment 01/28/2018 876 Etzkin Realty 12000 Undeposited Funds 900.00 1,520.00 Total 11000 Accounts Receivable 4,370.00 2,850.00 1,520.00 12000 Undeposited Funds 0.00 Payment 01/20/2018 589 Redeker Bed & Breakfast 11000 Accounts Receivable 800.00 800.00 Deposit 01/20/2018 589 Redeker Bed & Breakfast Deposit YourName Checking 800.00 0.00 Payment 01/22/2018 935 Etzkin Realty 11000 Accounts Receivable 650.00 650.00 Deposit 01/22/2018 935 Etzkin Realty Deposit YourName Checking 650.00 0.00 Payment 01/23/2018 1245 Holcomb Health Foods 11000 Accounts Receivable 500.00 500.00 Deposit 01/23/2018 1245 Holcomb Health Foods Deposit YourName Checking 500.00 0.00 Payment 01/28/2018 876 Etzkin Realty 11000 Accounts Receivable 900.00 900.00 Deposit 01/28/2018 876 Etzkin Realty Deposit YourName Checking 900.00 0.00 Total 12000 Undeposited Funds 2,850.00 2,850.00 0.00 13000 Office Supplies on Hand 0.00 General Journal 01/31/2018 ADJ3! 64900 Office Supplies 60.00 60.00 Total 13000 Office Supplies on Hand 60.00 0.00 60.00 15000 Furniture and Equipment 0.00 Bill 01/02/2018 Jackson Computer Services 20000 Accounts Payable 2,100.00 2,100.00 Bill 01/03/2018 Jackson Computer Services 20000 Accounts Payable 550.00 2,650.00 Total 15000 Furniture and Equipment 2,650.00 0.00 2,650.00 17000 Accumulated Depreciation 0.00 General Journal 01/31/2018 ADJ1! 62400 Depreciation Expense 87.50-87.50 General Journal 01/31/2018 ADJ2! 62400 Depreciation Expense 15.28-102.78 Total 17000 Accumulated Depreciation 0.00 102.78-102.78 20000 Accounts Payable 0.00 Bill 01/01/2018 Pitts Leasing 67100 Rent Expense 800.00-800.00 Bill Pmt -Check 01/01/2018 101 Pitts Leasing 2002 YourName Checking 800.00 0.00 Bill 01/02/2018 Jackson Computer Services 15000 Furniture and Equipment 2,100.00-2,100.00 Bill 01/03/2018 Jackson Computer Services 15000 Furniture and Equipment 550.00-2,650.00 Bill 01/20/2018 Jackson Computer Services 64900 Office Supplies 100.00-2,750.00 Bill Pmt -Check 01/20/2018 102 Jackson Computer Services 2001 YourName Checking 100.00-2,650.00 Bill 01/24/2018 Jackson Computer Services 64900 Office Supplies 200.00-2,850.00 Bill Pmt -Check 01/24/2018 103 Jackson Computer Services 2001 YourName Checking 200.00-2,650.00 Bill Pmt -Check 01/31/2018 104 Jackson Computer Services 2001 YourName Checking 2,100.00-550.00 Total 20000 Accounts Payable 3,200.00 3,750.00-550.00 30000 Opening Balance Equity 0.00 Deposit 01/01/2018 432 Dominic Leonardo Deposit YourName Checking 5,000.00-5,000.00
9.66 Exploring QuickBooks with Rock Castle Construction Type Date Num Adj Name Memo Split Debit Credit Balance Total 30000 Opening Balance Equity 0.00 5,000.00-5,000.00 47900 Sales 0.00 Invoice 01/06/2018 1 Redeker Bed & Breakfast -MULTIPLE- 11000 Accounts Receivable 800.00-800.00 Invoice 01/08/2018 2 Etzkin Realty -MULTIPLE- 11000 Accounts Receivable 650.00-1,450.00 Invoice 01/10/2018 3 Holcomb Health Foods Internet Marketing Consulting 11000 Accounts Receivable 500.00-1,950.00 Invoice 01/15/2018 4 Etzkin Realty Social Network Marketing Consulting 11000 Accounts Receivable 900.00-2,850.00 Invoice 01/22/2018 5 Redeker Bed & Breakfast Internet Marketing Consulting 11000 Accounts Receivable 600.00-3,450.00 Invoice 01/27/2018 6 Holcomb Health Foods -MULTIPLE- 11000 Accounts Receivable 920.00-4,370.00 Total 47900 Sales 0.00 4,370.00-4,370.00 62400 Depreciation Expense 0.00 General Journal 01/31/2018 ADJ1! 17000 Accumulated Depreciation 87.50 87.50 General Journal 01/31/2018 ADJ2! 17000 Accumulated Depreciation 15.28 102.78 Total 62400 Depreciation Expense 102.78 0.00 102.78 64900 Office Supplies 0.00 Bill 01/20/2018 Jackson Computer Services 20000 Accounts Payable 100.00 100.00 Bill 01/24/2018 Jackson Computer Services 20000 Accounts Payable 200.00 300.00 General Journal 01/31/2018 ADJ3! 13000 Office Supplies on Hand 60.00 240.00 Total 64900 Office Supplies 300.00 60.00 240.00 67100 Rent Expense 0.00 Bill 01/01/2018 Pitts Leasing 20000 Accounts Payable 800.00 800.00 Total 67100 Rent Expense 800.00 0.00 800.00 TOTAL 22,182.78 22,182.78 0.00
Chapter 9 Accounting for a Service Company 9.67 PROJECT 9 PROFIT & LOSS Jan 18 Ordinary Income/Expense Income 47900 Sales 4,370.00 Total Income 4,370.00 Expense 62400 Depreciation Expense 102.78 64900 Office Supplies 240.00 67100 Rent Expense 800.00 Total Expense 1,142.78 Net Ordinary Income 3,227.22 Net Income 3,227.22