Prepare General Journal entry General Ledger entry, Unadjusted Trial Balance, Adjusted Trial Balance, Post-Closing Trial Balance and Balance Sheet.
I-Teck Company
Chart of Accounts |
| 100 |
Petty Cash |
| 110 |
Cash |
| 120 |
Accounts Receivable |
| 121 |
Allowance for Doubtful Accounts |
| 130 |
Merchandise Inventory |
| 140 |
Office Supplies |
| 145 |
Prepaid Advertising |
| 150 |
Prepaid Insurance |
| 155 |
Prepaid Rent |
| 160 |
Computer Equipment |
| 161 |
Accumulated Depreciation, Computer Equipment |
| 165 |
Office Furniture |
| 166 |
Accumulated Depreciation, Office Furniture |
| 170 |
Service Vehicle |
| 171 |
Accumulated Depreciation, Service Vehicle |
| 190 |
Patent |
| 220 |
Accounts Payable |
| 225 |
Interest Payable |
| 230 |
Salaries Payable |
| 240 |
Unearned Revenue |
| 250 |
Notes Payable |
| 300 |
Steven Jobbs, Capital |
| 301 |
Steven Jobbs, Withdrawals |
| 400 |
Sales Revenue |
| 401 |
Sales Returns and Allowances |
| 402 |
Sales Discounts |
| 500 |
Cost of Goods Sold |
| 520 |
Advertising Expense |
| 560 |
Depreciation Expense, Computer Equipment |
| 565 |
Depreciation Expense, Office Furniture |
| 570 |
Depreciation Expense, Delivery Van |
| 575 |
Bad Debt Expense |
| 576 |
Bank Charges Expense |
| 578 |
Credit Card Expense |
| 580 |
Delivery Expense |
| 582 |
Insurance Expense |
| 584 |
Interest Expense |
| 586 |
Miscellaneous Selling Expense |
| 587 |
Office Supplies Expense |
| 588 |
Over Short Expense |
| 589 |
Postage Expense |
| 590 |
Rent Expense |
| 592 |
Salaries Expense |
| 595 |
Telephone Expense |
| 598 |
Utilities Expense |
| 900 |
Income Summary |
I-Teck Company
Trial Balance
October 31, 2011 |
| Account No. |
Account Title |
Debit |
Credit |
| 110 |
Cash |
$ 63,511.35 |
|
| 120 |
Accounts Receivable |
60,917.50 |
|
| 121 |
Allowance for Doubtful Accounts |
|
1,750.00 |
| 130 |
Merchandise Inventory |
92,225.00 |
|
| 140 |
Office Supplies |
1,190.00 |
|
| 150 |
Prepaid Insurance |
13,420.00 |
|
| 160 |
Computer Equipment |
23,800.00 |
|
| 161 |
Accumulated Depreciation, Computer Equipment |
|
2,975.00 |
| 165 |
Office Furniture |
22,190.00 |
|
| 166 |
Accumulated Depreciation, Office Furniture |
|
1,925.00 |
| 190 |
Patent |
8,239.00 |
|
| 220 |
Accounts Payable |
|
30,348.64 |
| 250 |
Notes Payable |
|
56,000.00 |
| 300 |
Steven Jobbs, Capital |
|
50,210.64 |
| 301 |
Steven Jobbs, Withdrawals |
16,800.00 |
|
| 400 |
Sales Revenue |
|
661,283.00 |
| 401 |
Sales Returns and Allowances |
8,944.60 |
|
| 402 |
Sales Discounts |
2,152.50 |
|
| 500 |
Cost of Goods Sold |
325,830.40 |
|
| 520 |
Advertising Expense |
1,452.37 |
|
| 576 |
Bank Charges Expense |
486.15 |
|
| 578 |
Credit Card Expense |
104.00 |
|
| 580 |
Delivery Expense |
2,503.48 |
|
| 586 |
Miscellaneous Selling Expense |
887.29 |
|
| 589 |
Postage Expense |
2,370.59 |
|
| 590 |
Rent Expense |
28,000.00 |
|
| 592 |
Salaries Expense |
124,214.91 |
|
| 595 |
Telephone Expense |
1,898.22 |
|
| 598 |
Utilities Expense |
3,354.92 |
|
| |
Total |
$804,492.28 |
$804,492.28 |
I-Teck Company
Schedule of Accounts Receivable
October 31, 2011 |
| Dixon Company |
$ 1,803.20 |
| Minitron Inc. |
5,425.00 |
| Office Depot |
1,260.00 |
| Staples |
23,224.60 |
| Toys"R"Us |
4,559.80 |
| Visions |
24,644.90 |
| Total |
$ 60,917.50 |
|
|
I-Teck Company
Schedule of Accounts Payable
October 31, 2011 |
| Apple Company |
$ 2,444.68 |
| Gates Suppliers |
11,530.40 |
| Mason Products |
5,363.82 |
| Sony Company |
11,009.74 |
| Total |
$ 30,348.64 |