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 This Excel file has fifteen separate spreadsheets (after this page) for the Systems Understanding Aid assignments.
 At the bottom of this window, you should be able to see a tab for each of the pages:

         Balance Sheet
         Income Statement
         Cash Flows
         Trial Balance
         GL Assets
         GL Liabilities & OE
         GL Income
         GL Expenses
         General Journal
         Other Journals (sales & cash receipts, purchases & disbursements, payroll)
         AR Ledger
         AP Ledger
         Payroll
         Fixed Assets
         Bank Reconciliation (Rec)

 You are to use these spreadsheets to complete the last stage of the SUA exercise. These pages replicate the paper
 versions of the documents contained in the SUA documentation.

 Remember: Save your work frequently. Submit this entire file as an attachment to email when you are finished :
    Email address: ACCT@rrtidd.com
    Subject line: 455 SUA 05
                        WAREN DISTRIBUTING
                          BALANCE SHEET
                    AT DECEMBER 31, 2009 AND 2008

                                  ASSETS

                                           2009              2008
CURRENT ASSETS
    Cash                                               $11,025.19
    Accounts receivable - net                            7,814.19
    Inventory                                          101,681.00
    Marketable securities                                    0.00
      Total current assets                  0.00       120,520.38

FIXED ASSETS - Net of
  accumulated depreciation                             239,105.50

            Total assets                   $0.00      $359,625.88

               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
    Accounts payable                                   $11,279.35
    Payroll taxes withheld
        and payable                                      3,284.54
    Federal income taxes payable                        29,797.00
    Interest payable                                         0.00
      Total current liabilities             0.00        44,360.89

NOTE PAYABLE                                                 0.00
      Total liabilities                     0.00        44,360.89

STOCKHOLDERS' EQUITY
    Common stock                                       225,000.00
    Retained earnings                                   90,264.99
     Total stockholders' equity             0.00       315,264.99

            Total liabilities and
              stockholders' equity         $0.00      $359,625.88
                 WAREN DISTRIBUTING
     STATEMENT OF INCOME AND RETAINED EARNINGS
        FOR THE YEAR ENDED DECEMBER 31, 2009

REVENUE
  Sales
  Less: Sales returns and allowances
        Sales discounts taken
     Net sales                                            0.00
COST OF GOODS SOLD
  Beginning inventory
  Net purchases
  Freight-in
  Goods available for sale                 0.00
  Less: Ending inventory
             Cost of goods sold                           0.00

GROSS MARGIN                                              0.00

OPERATING EXPENSES
  Rent expense
  Advertising expense
  Office supplies expense
  Depreciation expense
  Wages and salaries
  Payroll taxes
  Bad debt expense
  Other operating expense
         Total operating expenses                         0.00

            Operating income                              0.00

OTHER INCOME - Miscellaneous income

OTHER EXPENSE - Interest expense

INCOME BEFORE TAXES                                       0.00

FEDERAL INCOME TAXES

NET INCOME                                                0.00

RETAINED EARNINGS - Beginning of year

RETAINED EARNINGS - End of year                          $0.00
                            Check Figure          $ 218,501.24
                    WAREN DISTRIBUTING
                STATEMENT OF CASH FLOWS
           FOR THE YEAR ENDED DECEMBER 31, 2009

                                                                Check Figures
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income
 Adjustments to reconcile net income to net cash
    from operating activities
       Depreciation
       (Increase) decrease in assets:
         Accounts receivable
         Inventory
       Increase (decrease) in liabilities:
         Accounts payable
         Payroll taxes withheld and payable
         Income taxes payable
         Interest payable
            Net cash provided by operating activities    0.00   $   58,041.48

CASH FLOWS FROM INVESTING ACTIVITIES
 Cash payments for fixed assets
 Purchase of marketable securities
          Net cash used in investing activities          0.00

CASH FLOWS FROM FINANCING ACTIVITIES
 Cash proceeds from loans

NET INCREASE IN CASH                                     0.00

CASH - Beginning of year

CASH - End of year                                      $0.00   $ 103,141.67
c87d6327-4807-4858-be4c-ab3202c316bf.xls   Trial Balance                                     3/20/2011




                                                                     11/30
 ACCT                      ACCOUNT                               UNADJUSTED
  NO.                        TITLE                              TRIAL BALANCE
                                                               DEBIT       CREDIT

                            ASSETS
 10100    Cash                                             $    73,355.13
 10200    Accounts receivable                              $    24,005.00
 10300      Allowance for doubtful accounts                                 $     1,750.81
 10400    Inventory                                        $   101,681.00
 10500    Prepaid Expenses                                 $          -
 10600    Marketable securities                            $    24,000.00
 10700    Interest Receivable                              $          -
 10800    Fixed assets                                     $   320,665.00
 10900      Accumulated depreciation                                        $    81,559.50
 11000    Notes Receivable                                 $          -
                          LIABILITIES
 20100    Accounts payable                                                  $     3,650.00
 20200    Wages & Salaries Payable                                          $          -
 20300    Federal income taxes withheld                                     $     1,516.07
 20400    State unemployment taxes payable                                  $        50.03
 20500    Federal unemployment taxes payable                                $        14.82
 20600    F.I.C.A. taxes payable                                            $     2,007.16
 20700    Federal incomes taxes payable                                     $          -
 20800    Dividends Payable                                                 $          -
 20900    Interest payable                                                  $          -
 21000    Notes payable                                                     $          -

              STOCKHOLDERS' EQUITY
 26000 Common stock                                                         $   225,000.00
 27000 Paid-in Capital in Excess of Par                                     $          -
 29000 Retained earnings                                                    $    90,264.99

              REVENUE AND GROSS PROFIT
 30100    Sales                                                             $ 1,518,230.00
 30200    Sales returns and allowances                     $    57,631.00
 30300    Sales discounts taken                            $    15,144.18
 30400    Cost of goods sold                                                $          -
 30500    Purchases                                        $ 1,078,500.00
 30600    Purchases returns and allowances                                  $    19,445.00
 30700    Purchases discounts taken                                         $    15,561.30
c87d6327-4807-4858-be4c-ab3202c316bf.xls    Trial Balance                                     3/20/2011


 30800    Freight-in                                        $    23,380.94
 30900    Gain/Loss- Sale of Fixed Assets                                    $          -
 31000    Gain/Loss- Sale of Marketable Sec.                                 $          -
 31100    Interest/Dividend Income                                           $          -
 31200    Miscellaneous revenue                                              $          -

                          EXPENSES
 40100    Rent expense                                      $    52,800.00
 40200    Advertising expense                               $    20,805.00
 40300    Office supplies expense                           $     5,062.30
 40400    Depreciation expense                              $          -
 40500    Wages and salaries expense                        $   126,411.49
 40600    Payroll tax expense                               $    10,283.64
 40700    Federal income tax expense                        $          -
 40800    Interest expense                                  $          -
 40900    Bad debt expense                                  $          -
 41000    Other operating expense                           $    25,325.00

            Sub-Totals
             Net Income <loss>
              TOTALS                                        $ 1,959,049.68   $ 1,959,049.68
                                                                             $          -
                                           Check Figures $ 1,959,049.68
c87d6327-4807-4858-be4c-ab3202c316bf.xls     Trial Balance                                     3/20/2011




      Revenue Cycle                     Expenditure Cycle                   Payroll Cycle
      UNADJUSTED                          UNADJUSTED                       UNADJUSTED
     TRIAL BALANCE                       TRIAL BALANCE                    TRIAL BALANCE
    DEBIT      CREDIT                  DEBIT       CREDIT                DEBIT        CREDIT


$    188,437.49                    $   115,310.56                    $   103,141.67
$     47,421.00                    $    47,421.00                    $    47,421.00
$      1,149.19                    $     1,149.19                    $     1,149.19
$    101,681.00                    $   101,681.00                    $   101,681.00
$           -                      $          -                      $          -
$     24,000.00                    $    24,000.00                    $    24,000.00
$           -                      $          -                      $          -
$    320,665.00                    $   332,590.00                    $   332,590.00
                  $    81,559.50                    $    81,559.50                    $    81,559.50
$           -                      $          -                      $          -

                  $     3,650.00                    $     8,767.15                    $     8,767.15
                  $          -                      $          -
                  $     1,516.07                    $          -                      $     1,824.44
                  $        50.03                    $          -                      $        92.17
                  $        14.82                    $          -                      $        27.31
                  $     2,007.16                    $          -                      $     2,318.30
                  $          -                      $          -
                  $          -                      $          -
                  $          -                      $          -
                  $    70,000.00                    $    70,000.00                    $    70,000.00



                  $   225,000.00                    $   225,000.00                    $   225,000.00
                  $          -                      $          -                      $          -
                  $    90,264.99                    $    90,264.99                    $    90,264.99



                  $ 1,592,545.00                    $ 1,592,545.00                    $ 1,592,545.00
$     61,111.00                    $    61,111.00                    $    61,111.00
$     15,405.82                    $    15,405.82                    $    15,405.82
                  $          -     $          -                      $          -
$ 1,078,500.00                     $ 1,130,295.00                    $ 1,130,295.00
                  $    19,445.00                    $    19,445.00                    $    19,445.00
                  $    15,561.30                    $    16,597.20                    $    16,597.20
c87d6327-4807-4858-be4c-ab3202c316bf.xls     Trial Balance                                      3/20/2011


$     23,380.94                    $    24,680.94                     $    24,680.94
                  $         -                       $           -                      $         -
                  $         -                       $           -                      $         -
                  $         -                       $           -                      $         -
                  $      825.00                     $        825.00                    $      825.00



$     52,800.00                    $    57,600.00                     $    57,600.00
$     20,805.00                    $    22,155.00                     $    22,155.00
$      5,062.30                    $     5,621.45                     $     5,621.45
$           -                      $          -                       $          -
$    126,411.49                    $   126,411.49                     $   141,563.97
$     10,283.64                    $    10,283.64                     $    11,562.27
$           -                      $          -                       $          -
$           -                      $          -                       $          -
$           -                      $          -                       $          -
$     25,325.00                    $    29,287.75                     $    29,287.75




$ 2,102,438.87    $ 2,102,438.87   $ 2,105,003.84   $ 2,105,003.84    $ 2,109,266.06   $ 2,109,266.06
                  $          -
$ 2,102,438.87                     $ 2,105,003.84                     $ 2,109,266.06
c87d6327-4807-4858-be4c-ab3202c316bf.xls   Trial Balance                 3/20/2011




       ADJUSTMENTS                     ADJUSTED                 INCOME
                                     TRIAL BALANCE            STATEMENT
    DEBIT          CREDIT           DEBIT     CREDIT       DEBIT     CREDIT
c87d6327-4807-4858-be4c-ab3202c316bf.xls   Trial Balance                   3/20/2011




$           -      $        -    $         -     $         -   $   -   $    -

$   1,247,780.69
c87d6327-4807-4858-be4c-ab3202c316bf.xls   Trial Balance   3/20/2011




                                      POST-CLOSING
        BALANCE                         BALANCE
          SHEET                           SHEET
    DEBIT      CREDIT               DEBIT      CREDIT
c87d6327-4807-4858-be4c-ab3202c316bf.xls   Trial Balance       3/20/2011




$           -    $          -    $         -     $         -
     10100   Cash
   Date                        Entry        Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1       Balance Forward                                                   44,407.53
Oct. 31                                     CR        110,395.64
     X                                      CD                     98,304.36
     X       Net Wages and Salary           PR                     10,498.83
     X       Bank Service Charge            G                          25.00    45,974.98
Nov. 30                                     CR         82,113.56
     X                                      CD                     44,113.33
     X       Net Wages and Salary           PR                     10,599.08
     X       Bank Service Charge            G                          21.00    73,355.13
31-Dec-09                                   CR        115,082.36               188,437.49
31-Dec-09                                   CD                     73,099.43   115,338.06
31-Dec-09                                   G                          27.50   115,310.56
31-Dec-09                                   PR                     12,168.89   103,141.67




     10200 Accounts Receivable
   Date                    Entry            Journal    Debit       Credit      Balance    Ctrl Init
Oct. 1     Balance Forward                                                     49,451.00 NF
Oct. 31                                     S          86,714.00
     X                                      CR                     74,369.00    61,796.00 NF
Nov. 30                                     S          37,263.00
     X                                      CR                     75,054.00    24,005.00 NF
22-Dec-10                                   G                       2,900.00    21,105.00
31-Dec-10                                   S          49,398.00                70,503.00
31-Dec-10                                   CR                     23,082.00    47,421.00



    10300 Allowance for Doubtful Accounts
                                                                                             Ctrl Init
Oct. 1    Balance Forward                                                        1,750.81
22-Dec-10                                   G           2,900.00                (1,149.19)




     10400 Inventory
   Date                    Entry            Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1     Balance Forward                                                     101,681.00




     10500 Prepaid Expenses
   Date                    Entry            Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1     Balance Forward                                                          0.00




     10600 Marketable Securities
   Date                    Entry            Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1     Balance Forward                                                     24,000.00




     10700 Interest Receivable
   Date                    Entry            Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1     Balance Forward                                                          0.00




     10800 Fixed Assets
   Date                    Entry            Journal    Debit       Credit      Balance     Ctrl Init
Oct. 1     Balance Forward                                                     320,665.00 NF
31-Dec-10                                   P          11,925.00               332,590.00




     10900 Accumulated Depreciation
   Date                    Entry            Journal    Debit       Credit      Balance    Ctrl Init
Oct. 1     Balance Forward                                                     81,559.50 NF




     11000 Notes Receivable
   Date                    Entry            Journal    Debit       Credit      Balance       Ctrl Init
Oct. 1     Balance Forward                                                          0.00
     20100 Accounts Payable
  Date                    Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               P                     85,920.80
X                                     CD        82,372.83
Nov. 30                               P                     27,938.09
X                                     CD        28,923.89
31-Dec-09                             P                     64,279.15
31-Dec-09                             CD        59,162.00




     20200 Wages & Salaries Payable
  Date                    Entry       Journal   Debit       Credit
Oct. 1     Balance Forward




     20300 FIT Withheld
  Date                    Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               CD         1,515.80
X                                     PR                     1,517.33
Nov. 20                               CD         1,517.33
X                                     PR                     1,516.07
31-Dec-10                             CD         1,516.07
31-Dec-10                             PR                     1,824.44
31-Dec-10



     20400 SUT Payable
  Date                    Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               G                        44.98
Nov. 30                               CD           44.98
X                                     G                        50.03
31-Dec-09                             CD           50.03
31-Dec-09                             G                        92.17
     20500 FUT Payable
  Date                    Entry     Journal   Debit      Credit
Oct. 1     Balance Forward
Oct. 31                             G                       13.33
Nov. 30                             CD           13.33
X                                   G                       14.82
31-Dec-09                           CD           14.82
31-Dec-09                           G                       27.31


     20600   FICA Taxes Payable
  Date                      Entry   Journal   Debit      Credit
Oct. 1       Balance Forward
Oct. 31                             CD        1,745.62
X            F.I.C.A. Withheld      PR                     995.38
X            Employer's Tax         G                      995.38
Nov. 30                             CD        1,990.76
X            F.I.C.A. Withheld      PR                    1,003.58
X            Employer's Tax         G                     1,003.58
31-Dec-09                           CD        2,007.16
31-Dec-09                           PR                    1,159.15
31-Dec-09                           G                     1,159.15




     20700 FIT Payable
  Date                    Entry     Journal   Debit      Credit
Oct. 1     Balance Forward




     20800 Dividends Payable
  Date                    Entry     Journal   Debit      Credit
Oct. 1     Balance Forward
     20900 Interest Payable
  Date                    Entry               Journal   Debit   Credit
Oct. 1     Balance Forward




     21000 Notes Payable
  Date                    Entry               Journal   Debit   Credit
Oct. 1     Balance Forward
31-Dec-10                                     CR                70,000.00




     26000 Common Stock
  Date                    Entry               Journal   Debit   Credit
Oct. 1     Balance Forward




     27000 Paid-in Capital in Excess of Par
  Date                     Entry              Journal   Debit   Credit
Oct. 1     Balance Forward
     28000 Income Summary
  Date                    Entry   Journal   Debit   Credit
Oct. 1     Balance Forward




     29000 Retained Earnings
  Date                    Entry   Journal   Debit   Credit
Oct. 1     Balance Forward
Balance    Ctrl Init
 1,087.83 NF

  4,635.80 NF

 3,650.00 NF
67,929.15
 8,767.15




Balance      Ctrl Init
     0.00




Balance      Ctrl Init
 1,515.80

  1,517.33

  1,516.07
      0.00
  1,824.44




Balance      Ctrl Init
     0.00
    44.98

    50.03
     0.00
    92.17
Balance     Ctrl Init
     0.00
    13.33

    14.82
     0.00
    27.31



Balance     Ctrl Init
 1,745.62


 1,990.76


 2,007.16
     0.00
 1,159.15
 2,318.30




Balance     Ctrl Init
     0.00




Balance     Ctrl Init
     0.00
Balance      Ctrl Init
     0.00




Balance      Ctrl Init
      0.00
 70,000.00




Balance      Ctrl Init
225,000.00




Balance      Ctrl Init
     0.00
Balance      Ctrl Init
     0.00




Balance      Ctrl Init
 90,264.99
     30100   Sales
   Date                     Entry       Journal   Debit       Credit
Oct. 1       Balance Forward
Oct. 31      Credit Sales               S                     86,714.00
X            Cash Sales                 CR                    36,607.00
Nov. 30      Credit Sales               S                     60,277.00
X            Cash Sales                 CR                     7,767.00
31-Dec-10                               S                     52,878.00
31-Dec-10                               CR                    21,437.00




     30200 Sales Returns & Allowances
   Date                   Entry         Journal   Debit       Credit
Oct. 1     Balance Forward
Nov. 30                                 S         23,014.00
31-Dec-10                               S          3,480.00




     30300 Sales Discounts Taken
   Date                   Entry         Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                                 CR          580.36
Nov. 30                                 CR          707.44
31-Dec-10                               CR          261.64




     30400 Cost of Goods Sold
   Date                   Entry         Journal   Debit       Credit
Oct. 1     Balance Forward
     30500 Purchases
   Date                   Entry                Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                                        P         81,285.00
Nov. 30                                        P         27,380.00
31-Dec-10                                      P         51,795.00




     30600 Purchase Returns and Allowances
   Date                   Entry                Journal   Debit       Credit
Oct. 1     Balance Forward




     30700 Purchase Discounts Taken
   Date                   Entry                Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                                        CD                     1,625.70
Nov. 30                                        CD                       547.60
31-Dec-10                                      CD                     1,035.90




     30800 Freight-In
   Date                   Entry                Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                                        CD         2,985.60
Nov. 30                                        CD         2,356.99
31-Dec-10                                      CD         1,300.00




     30900 Gain/Loss on Sale of Fixed Assets
   Date                   Entry                Journal   Debit       Credit
Oct. 1     Balance Forward
     31000 Gain/Loss on Sale of Marketable Securities
   Date                   Entry                Journal   Debit   Credit
Oct. 1     Balance Forward




   311100 Interest/Dividend Income
   Date                   Entry               Journal    Debit   Credit
Oct. 1    Balance Forward




     31200 Miscellaneous Revenue
   Date                   Entry               Journal    Debit   Credit
Oct. 1     Balance Forward
31-Dec-10                                    CR                    825.00
  Balance      Ctrl Init
1,326,865.00

1,450,186.00

1,518,230.00
1,571,108.00
1,592,545.00




 Balance       Ctrl Init
  34,617.00
  57,631.00
  61,111.00




 Balance       Ctrl Init
  13,856.38
  14,436.74
  15,144.18
  15,405.82




 Balance       Ctrl Init
      0.00
  Balance      Ctrl Init
  969,835.00
1,051,120.00
1,078,500.00
1,130,295.00




 Balance       Ctrl Init
  19,445.00




 Balance       Ctrl Init
  13,388.00
  15,013.70
  15,561.30
  16,597.20




 Balance       Ctrl Init
  18,038.35
  21,023.95
  23,380.94
  24,680.94




 Balance
      0.00
Balance
     0.00




Balance     Ctrl Init
     0.00




Balance     Ctrl Init
     0.00
   825.00
     40100 Rent Expense
   Date                   Entry      Journal   Debit      Credit
Oct. 1     Balance Forward
Oct. 31                              CD        4,800.00
Nov. 30                              CD        4,800.00
31-Dec-10                            CD        4,800.00




     40200 Advertising Expense
   Date                   Entry      Journal   Debit      Credit
Oct. 1     Balance Forward
Oct. 31                              CD        4,525.00
Nov. 30                              CD        3,250.00
31-Dec-10                            CD        1,350.00




     40300 Office Supplies Expense
   Date                   Entry      Journal   Debit      Credit
Oct. 1     Balance Forward
Oct. 31                              P           985.80
Nov. 30                              P           558.09
31-Dec-10                            P           559.15




     40400 Depreciation Expense
   Date                   Entry      Journal   Debit      Credit
Oct. 1     Balance Forward
     40500 Wages & Salaries Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               PR        13,011.54
Nov. 30                               PR        13,118.73
31-Dec-09                             PR        15,152.48


     40600 Payroll Tax Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               G          1,053.69
Nov. 30                               G          1,068.43
31-Dec-09                             G          1,278.63



     40700 FIT Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward




     40800 Interest Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward




     40900 Bad Debt Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward




     41000 Other Operating Expense
   Date                   Entry       Journal   Debit       Credit
Oct. 1     Balance Forward
Oct. 31                               G             25.00
X                                     P          3,650.00
X                                     CD         1,985.21
Nov. 30                               G             21.00
X                                     CD         1,763.65
31-Dec-10                             CD         3,935.25
31-Dec-10                             G             27.50
Balance      Ctrl Init
 43,200.00
 48,000.00
 52,800.00
 57,600.00




Balance      Ctrl Init
 13,030.00
 17,555.00
 20,805.00
 22,155.00




Balance      Ctrl Init
 3,518.41
 4,504.21
 5,062.30
 5,621.45




Balance      Ctrl Init
     0.00
Balance     Ctrl Init
100,281.22 NF
113,292.76 NF
126,411.49 NF
141,563.97



Balance      Ctrl Init
  8,161.52
  9,215.21
 10,283.64
 11,562.27




Balance      Ctrl Init
     0.00




Balance      Ctrl Init
     0.00




Balance      Ctrl Init
     0.00




Balance      Ctrl Init
 17,880.14


 23,540.35

 25,325.00
 29,260.25
 29,287.75
General Journal

           Date    Acct. No.              Acct. & Explain        Post x   Debit

         Nov. 30        40600 Payroll Tax Expense                    X     1,068.43
                        20600    F.I.C.A. Payable                    X
                        20400    SUTA Payable                        X
                        20500    FUTA Payable                        X

                               Record November payroll

         Nov. 30        41000 Other Operating Expense                X        21.00
                        10100    Cash                                X

                               Record November bank service charge

                                                1
          22-Dec               Allowance for Doubtful Accounts             2,900.00
                                 Accounts Receivable

                               Write off uncollectible

                                               2
          31-Dec        40100 Other Operating Expense                         27.50
                        10100 Cash

                               Record December bank service charge

                                                3
          31-Dec        40600 Payroll tax expense                          1,278.63
                        20600 FICA payable
                        20400 SUTA payable
                        20500 FUTA payable

                               Record November Payroll
TOTALS   5,295.56
Credit


 1,003.58
    50.03
    14.82




    21.00




 2,900.00




    27.50




 1,159.15
    92.17
    27.31
5,295.56
Sales Journal

                                                                                                                                   Debit                      Credit
                                                                 Invoice or          Subsidiary                                              Sales
                Date                  Customer                   Cr. Memo             Acct. No.         Post x              A/R             Returns           Sales

          Nov. 7          Stevenson College                     CM41                        411           X               (23,014.00)        23,014.00
          Nov. 7          Rosemont University                              724              406           X                 2,460.00                           2,460.00
          Nov. 10         Branch College                                   725              408           X                32,912.00                          32,912.00
          Nov. 14         Eastern Wisconsin Univ.                          726              410           X                24,905.00                          24,905.00


                                Monthly Totals                                                                            37,263.00          23,014.00        60,277.00
                                                                                                                      X                 X                 X

          Dec. 2          Rosemont University                             727               406           X                4,174.00                            4,174.00
          Dec. 7          Clayborn University                             728               407           X                7,252.00                            7,252.00
          Dec. 9          Eastern Wisconsin Univ.                         729               410           X               21,872.00                           21,872.00
          Dec. 13         Branch College                                  730               408           X                1,656.00                            1,656.00
                 19-Dec   U of So. Iowa                                   731               409                           17,924.00                           17,924.00
                 23-Dec   E. Wisc. University                           CM 42               410                           (3,480.00)          3,480.00

                                                                                                                          49,398.00           3,480.00        52,878.00
                                                                                                                      x                 x                 x




Cash Receipts Journal

                                                                                        Debit                                                                                  Credit
                                                                                                                             Accounts Receivable                               Sales                          Other G/L
               Date                   Description                Dep. Ctrl.            Cash           Sales Disc. Sub. Acct. No.  Amount      Subs Post x                                    Acct. No.         Amount         Post Ref.
          Nov. 7          Stevenson College                     NF                    34,682.00                             411    34,682.00 X
          Nov. 13         McClain College                       NF                     7,767.00                                                                                 7,767.00
          Nov. 17         Rosemont University                   NF                     2,410.80             49.20                 406          2,460.00 X
          Nov. 18         Branch College                        NF                    32,253.76            658.24                 408         32,912.00 X
          Nov. 21         Eastern Wisconson Univ.               NF                     5,000.00                                   410          5,000.00 X

                                Monthly Totals                  RK                    82,113.56            707.44                             75,054.00                         7,767.00
                                                                                 X                X                                     X                                  X


          Dec. 6          Gates University                      NF                     5,891.00                                                                                 5,891.00
          Dec. 9          Rosemont University                   NF                     4,090.52               83.48               406          4,174.00 X
          Dec. 14         Hancock College                       NF                     5,306.00                                                                                 5,306.00
          Dec. 15         Clayborn University                                          7,106.96            145.04                 407          7,252.00 X
          Dec. 15         Atwood Brothers                                                825.00                                                                                                   31200            825.00 x
                 16-Dec   First American Bank                                         70,000.00                                                                                                   21000         70,000.00 x
                 22-Dec   Branch College                                               1,622.88               33.12               408          1,656.00
                 23-Dec   E. Wisconsin Univ.                                          10,000.00                                   410         10,000.00
                 23-Dec   Wright Univ.                                                10,240.00                                                                                10,240.00


                                Monthly Totals                                       115,082.36            261.64                             23,082.00                        21,437.00                        70,825.00
                                                                                 x                x                                     x                                  x                              x




Purchases Journal
                                                                                                                  Debit                                                            Credit
                                                                                                                       Other GL                                        Accounts Payable
                                                                     Vendor          Purchases                                                                                                                Purchases
                Date                       Vendor                    Invoice            GL            Acct. No.           Amount            Post. Ref.    Sub. Acct. No.       Amount      Subs Post x         Returns

          Nov. 3          Velocity Sporting Goods                       33371         27,380.00                                                                    252         27,380.00 X
          Nov. 21         Chicago Office Supply                          2275                                 40300          558.09 X                           253.00            558.09 X


                          Monthly Totals                                              27,380.00                              558.09                                            27,938.09                                  0
                                                                                 X                                    X                                                    X                              X

          Dec. 5          Velocity Sporting Goods                       33965         36,115.00                                                                    252         36,115.00 X
          Dec. 12         Chicago Office Supply                          2344                                 10800        7,367.00 X                           253.00          7,367.00 X
                 22-Dec   Velocity Sporting Goods                       34719         15,680.00                                                                                15,680.00
                 26-Dec   Chicago Office Supply                          2378                                 40300          559.15 X                                             559.15
                 31-Dec   Chicago Office Supply                          2423                                 10800        4,558.00 X                                           4,558.00
                                               Monthly Totals                         51,795.00                           12,484.15                                            64,279.15
                                                                                                                                                                           X




Cash Disbursements Journal
                                                                                           Credit                                                                  Debit
                                                                                               Purchases                 Accounts Payable                        Freight-in                     Other G/L
               Date                   Description               Check No.           Cash          Disc.      Sub. Acct. No.  Amount      Subs Post x                           Acct. No.         Amount          Post Ref.
          Nov. 8          Chicago Office Supply                       1124            985.80                           253      985.80 X
          Nov. 13         Velocity Sporting Goods                     1125         26,832.40           547.6           252   27,380.00 X
          Nov. 15         See Payroll Journal                  1126-8
          Nov. 15         Internal Revenue Service                    1129          3,508.09                                                                                        20300         1,517.33   X
                                                                                                                                                                                    20600         1,990.76   X
          Nov. 15         Internal Revenue Service                      1130           13.33                                                                                        20500            13.33   X
          Nov. 15         State of Illinois                             1131           44.98                                                                                        20400            44.98   X
          Nov. 17         Worldwide Management                          1132        4,800.00                                                                                        40100         4,800.00   X
          Nov. 17         Board of Water & Light                        1133        1,763.65                                                                                        41000         1,763.65   X
          Nov. 18         Interstate Motor Freight                      1134        2,356.99                                                                       2,356.99
          Nov. 18         University Athletic News                      1135        3,250.00                                                                                        40200         3,250.00 X
          Nov. 23         Chicago Office Supply                         1136          558.09                             253           558.09
          Nov. 30         See Payroll Journal                  1137-9

                                                                                   44,113.33         547.60                         28,923.89                      2,356.99                      13,380.05
                                                                               X               X                               X                             X                              X

          Dec. 7          First Security Insurance                      1140        2,575.00                                                                                        41000         2,575.00 X
          Dec. 12         Chicago Office Supply                         1141        7,367.00                             253         7,367.00 X
          Dec. 13         Velocity Sporting Goods                       1142       35,392.70           722.3             252        36,115.00 X
          Dec. 13         Worldwide Management                          1143        4,800.00                                                                                        40100         4,800.00 X
          Dec. 14         Board of Water & Light                        1144        1,360.25                                                                                        41000         1,360.25 X
          Dec. 14         Interstate Motor Freight                      1145          778.75                                                                         778.75
          Dec. 15         Internal Revenue Service                      1146        3,523.23                                                                                        20300         1,516.07   X
                                                                                                                                                                                    20600         2,007.16   X
          Dec. 15         Internal Revenue Service                      1147          14.82                                                                                         20500            14.82   X
          Dec. 15         State of Illinois                             1148          50.03                                                                                         20400            50.03   X
          Dec. 15         See Payroll Journal
                 23-Dec   interstate Freight                            1152          521.25                                                                         521.25
                 29-Dec   Velocity Sporting Goods                       1153       15,366.40           313.6             252        15,680.00
                 31-Dec   University Athletic News                      1157        1,350.00                                                                                        40200         1,350.00 X

                                                                                   73,099.43        1,035.90                        59,162.00                      1,300.00                      13,673.33
                                                                                                      X                                X                             X                      X




Payroll Journal

                                                                                                   Earnings                                          Deductions                      Payment                       Sub.
                                                                  Reg.              Reg.             OT            OT              Gross Pay      FICA          FIT            Net Pay    Check No.              Post. Ref
                  Date                 Employee                   Hours             Pay            Hours           Pay

          Nov. 15         Ray Kramer                                                 3500.00                                          3500.00       267.75            441.71      2790.54             1126 X
                          Jim Adams                                       88         1680.00           12.88        405.72            2085.72       159.55            286.47      1639.70             1127 X
                          Nancy Ford                                      60          833.00                                           833.00        63.73              8.72       760.55             1128 X

          Nov. 30         Ray Kramer                                                 3500.00                                          3500.00       267.75            441.71      2790.54             1137 X
                          Jim Adams                                       88         1848.00           10.54        332.01            2180.01       166.77            310.04      1703.20             1138 X
                          Nancy Ford                                      60         1020.00                                          1020.00        78.03             27.42       914.55             1139 X

                                              Monthly Totals                        12381.00                        737.73           13118.73      1003.58          1516.07      10599.08

          Dec. 15         Ray Kramer                                                 3500.00                                          3500.00       267.75            441.71      2790.54             1149 X
                          Jim Adams                                       88         1848.00            5.77        181.76            2029.76       155.28            272.48      1602.00             1150 X
                          Nancy Ford                                      88         1496.00            1.23         31.37            1527.37       116.83             86.19      1324.35             1151 X

                   31-Dec Ray Kramer                                                 3700.00                   `                      3700.00       283.05            491.71      2925.24             1154
                          Jim Adams                                       96         2208.00            8.73        301.19            2509.19       191.95            392.34      1924.90             1155
                          Nancy Ford                                      96         1747.20            5.09        138.96            1886.16       144.29            140.01      1601.86             1156


                                              Monthly Totals                       14,499.20                        653.28          15,152.48     1,159.15         1,824.44     12,168.89
406 Company ROSEMONT UNIVERSITY
    Address 121 E. Frong
            Louisville, KY 40202           Credit Limit    125,000.00
      Date                  Entry              Debit        Credit      Balance
    Oct. 1  Balance Forward                                                   0.00
    Oct. 6  Invoice #722                       29,018.00                 29,018.00
    Oct. 14 Payment #722                                    29,018.00         0.00
    Nov. 7  Invoice #724                        2,460.00                  2,460.00
    Nov. 17 Payment #724                                     2,460.00         0.00
    Dec. 2  Invoice #727                        4,174.00                  4,174.00
    Dec. 9  Payment #727                                     4,174.00         0.00




407 Company CLAYBORN UNIVERSITY
    Address 13210 S. Upton
            Logansport, IN 46947           Credit Limit    125,000.00
      Date                 Entry               Debit        Credit      Balance
    Oct. 1  Balance Forward                                                  0.00
    Dec. 7  Invoice #728                        7,252.00                 7,252.00
    Dec. 15 Payment #728                                     7,252.00        0.00




408 Company BRANCH COLLEGE
    Address 242 W. Holt Road
              Trenton, MO 64683            Credit Limit    100,000.00
      Date                  Entry              Debit        Credit      Balance
    Oct. 1    Balance Forward                                            46,551.00
    Oct. 7    Payment #721                                  45,351.00     1,200.00
    Nov. 10   Invoice #725                     32,912.00                 34,112.00
    Nov. 18   Payment #725                                  32,912.00     1,200.00
    Dec. 13   Invoice #730                      1,656.00                  2,856.00
    22-Dec-10 Payment #730                                   1,656.00     1,200.00




409 Company UNIVERSITY OF SOUTHERN IOWA
    Address 1231 S. Ceader
              Dubuque, IA 52003         Credit Limit       100,000.00
      Date                  Entry           Debit           Credit      Balance
    Oct. 1    Balance Forward                                                 0.00
       19-Dec Invoice #731                 17,924.00                     17,924.00



410 Company EASTERN WISCONSIN UNIVERSITY
    Address 14123 W. Saginaw
                Madison, WI 53702           Credit Limit    75,000.00
      Date                      Entry           Debit       Credit        Balance
    Oct. 1      Balance Forward                                                 0.00
    Nov. 14     Invoice #726                    24,905.00                  24,905.00
    Nov. 21     Partial Payment #726                         5,000.00      19,905.00
    Dec. 9      Invoice #729                    21,872.00                  41,777.00
       23-Dec   Return for Credit- #CM 42                    3,480.00      38,297.00
       23-Dec   Partial Payment #729                        10,000.00      28,297.00


411 Company STEVENSON COLLEGE
    Address 2689 Industrial Boulevard
              Chicago, IL 60614             Credit Limit    75,000.00
      Date                    Entry             Debit       Credit        Balance
    Oct. 1    Balance Forward                                               2,900.00
    Oct. 24   Invoice #723                      57,696.00                  60,596.00
    Nov. 7    Return for Credit #CM-41                      23,014.00      37,582.00
    Nov. 7    Payment #723                                  34,682.00       2,900.00
       22-Dec Write off uncollectible                        2,900.00           0.00


                                                                        $ 47,421.00
252 Company VELOCITY SPORTING GOODS
    Address   1285 Colgrove Ave.
              Pierre, SD 57501
    Terms:    2/10, Net 30                Freight:        Collect
       Date                Description         Debit           Credit     Balance
    Oct. 1    Balance Forward                                                   0.00
    Oct. 5    Vendor Invoice #32407                           81,285.00   81,285.00
    Oct. 14   Check #112                      81,285.00                         0.00
    Nov. 3    Vendor Invoice #33371                           27,380.00   27,380.00
    Nov. 13   Check #1125                     27,380.00                         0.00
    Dec. 5    Vendor Invoice #33965                           36,115.00   36,115.00
    Dec. 13   Check #1142                     36,115.00                         0.00
    22-Dec-10 Vendor Invoice #34719                           15,680.00   15,680.00
    29-Dec-10 Check #1153                     15,680.00                         0.00




253 Company Chicago Office Supply
    Address   1411 E. Michigan
              Chicago, IL 60606
    Terms:    Due on receipt of invoice   Freight:        No charge
       Date                Description         Debit          Credit      Balance
    Oct. 1    Balance Forward                                              1,087.83
    Oct. 7    Check #1111                      1,087.83                         0.00
    Oct. 19   Vendor Invoice #2112                               985.80      985.80
    Nov. 8    Check #1124                        985.80                         0.00
    Nov. 21   Vendor Invoice #2275                               558.09      558.09
    Nov. 23   Check #1136                        558.09                         0.00
    Dec. 12   Vendor Invoice #2344                             7,367.00    7,367.00
    Dec. 12   Check #1141                      7,367.00                         0.00
    26-Dec-10 Vendor Invoice #2344                               559.15      559.15
       31-Dec Vendor Invoice #2344                             4,558.00    5,117.15


261 Company GILLETT CONSULTING
    Address 5613 Lantern View
            Chicago, IL 60612
    Terms:  Net 30 days                   Freight:
       Date              Description           Debit          Credit      Balance
    Oct. 1  Balance Forward                                                     0.00
    Oct. 3  Vendor Invoice #9884                               3,650.00    3,650.00
8,767.15
Pay Rate History

                                                                                 Withholding
            Employee          Pay Rate        Time Unit         Filing Status    Allowance
          Ray Kramer        $   3,400.00     semimonthly              M                     2
                            $   3,500.00     semimonthly              M                     2
                            $   3,700.00     semimonthly              M                     2

          Jim Adams         $       20.00      hourly                s                     2
                            $       21.00      hourly                s                     2
                            $       23.00      hourly                s                     2

          Nancy Ford        $       17.00      hourly                m                     3
                            $       18.20      hourly                m                     3



Subsidiary Ledgers

          Employee:        Ray Kramer                    Soc. Sec. No.   365-73-2376
          Home Address 417 Cherry, Chicago, 60912        Phone No.       781-3565
          Emplyed                4/6/1994                Date of Termination
          Date of Birth        2/15/1962                 Occupation      Manager
                        Date                      Hours Worked
           Period Ending        Paid      Regular Hours      OT Hours      Gross Pay
                10/1/2009 Balance Forward                                    63,000.00

               10/15/2009     10/14/2009                                            3,500.00
               10/31/2009     10/31/2009                                            3,500.00
                            Cumulative Annual Total                                70,000.00

               11/15/2009     11/15/2009                                            3,500.00
               11/30/2009     11/30/2009                                            3,500.00
                            Cumulative Annual Total                                77,000.00

               12/15/2009     12/15/2009                                            3,500.00
               12/31/2009     12/31/2009                                            3,700.00
                            Cumulative Annual Total                                84,200.00




          Employee:        Jim Adams                     Soc. Sec. No.   379-54-9833
          Home Address 2522 Longfellow, Chicago 60823    Phone No.       351-5874
          Emplyed               1/16/2001                Date of Termination
          Date of Birth         10/1/1976                Occupation      Accounting Clerk
                        Date                      Hours Worked
           Period Ending        Paid      Regular Hours      OT Hours      Gross Pay
                10/1/2009 Balance Forward                                    37,281.22

               10/15/2009       10/14/2009                 80            11.87      2,221.91
               10/31/2009       10/31/2009                 88             8.75      2,123.63
                  Cumulative Annual Total                          41,626.76

     11/15/2009     11/15/2009              88           12.88      2,085.72
     11/30/2009     11/30/2009              88           10.54      2,180.01
                  Cumulative Annual Total                          45,892.49

     12/15/2009     12/15/2009              88            5.77      2,029.76
     12/31/2009     12/31/2009              96            8.73      2,509.19
                  Cumulative Annual Total                          50,431.44




Employee:        Nancy Ford                    Soc. Sec. No.   367-55-4832
Home Address 1018 Whittier, Chicago, 60823     Phone No.       351-5251
Emplyed              10/1/2009                 Date of Termination
Date of Birth        5/22/1972                 Occupation      Clerk
              Date                      Hours Worked
 Period Ending       Paid       Regular Hours      OT Hours      Gross Pay
      10/1/2009 Balance Forward                                         0.00

     10/15/2009     10/14/2009              48                        816.00
     10/31/2009     10/31/2009              50                        850.00
                  Cumulative Annual Total                           1,666.00

     11/15/2009     11/15/2009              60                        833.00
     11/30/2009     11/30/2009              60                      1,020.00
                  Cumulative Annual Total                           3,519.00

     12/15/2009     12/15/2009              88            1.23      1,527.37
     12/31/2009     12/31/2009              96            5.09      1,886.16
                  Cumulative Annual Total                           6,932.53
             Effective Date    Approval
                 12/16/2007 rk
                 12/16/2008 RK
                 12/16/2009 RK

                 12/16/2007 rk
                 12/16/2008 rk
                 12/16/2009 rk

                  10/1/2009 hire date, rk
                 12/16/2009 rk




                  FICA            FIT         Net Pay
                  4,819.50        7,950.78   50,229.72

                    267.75          441.71    2,790.54
                    267.75          441.71    2,790.54
                  5,355.00        8,834.20   55,810.80

                    267.75          441.71    2,790.54
                    267.75          441.71    2,790.54
                  5,890.50        9,717.62   61,391.88

                    267.75          441.71    2,790.54
                    283.05          491.71    2,925.24
                  6,441.30       10,651.04   67,107.66




counting Clerk

                  FICA            FIT         Net Pay
                  2,852.02        5,091.05   29,338.15

                    169.97          320.52    1,731.42
                    162.46          295.95    1,665.22
3,184.45   5,707.52     32,734.79

  159.55     286.47      1,639.70
  166.77     310.04      1,703.20
3,510.77   6,304.03     36,077.69

  155.28     272.48      1,602.00
  191.95     392.34      1,924.90
3,858.00   6,968.85     39,604.59




FICA       FIT          Net Pay
    0.00         0.00       0.00

   62.42      7.02         746.56
   65.03     10.42         774.55
  127.45     17.44       1,521.11

   63.73      8.72         760.55
   78.03     27.42         914.55
  269.21     53.58       3,196.21

  116.83     86.19       1,324.35
  144.29    140.01       1,601.86
  530.33    279.78       6,122.42
Item              Office Furniture          Depreciation Method        Straight-line
Purchased From Chicago Office Supply        Where Located              Office
Estimated Life    5 years                   Estimated Salvage Values $            0.00
                                     Asset Record                                    Depreciation Recor
      Date             Debit       Credit            Balance                Debit
        9/30/2003     50,750.00                             50,750.00
       12/31/2003
       12/31/2004
       12/31/2005
       12/31/2006
       12/31/2007
       12/31/2008




Item           Delivery Trucks               Depreciation Method        Straight-line
Purchased From Dyckstra Ford                 Where Located              Loading Dock
Estimated Life 5 years                       Estimated Salvage Values $            0.00
                                      Asset Record                                    Depreciation Recor
      Date            Debit         Credit            Balance                Debit
       4/21/2007      69,255.00                              69,255.00
      12/31/2007
      12/31/2008




Item              Inventory Handling System Depreciation Method          Straight-line
Purchased From Conveyor Systems, Inc.         Where Located              Warehouse
Estimated Life    10 years                    Estimated Salvage Values $            0.00
                                       Asset Record                                    Depreciation Recor
      Date            Debit         Credit             Balance                Debit
         7/5/2008    200,660.00                              200,660.00
       12/31/2008




Item              High-Speed Copier         Depreciation Method        Straight-line
Purchased From Chicago Office Supply        Where Located              Office
Estimated Life    5 years                   Estimated Salvage Values $            0.00
                                     Asset Record                                    Depreciation Recor
      Date            Debit        Credit            Balance                Debit
       12/12/2009      7,367.00                              7,367.00
Item                                  Depreciation Method
Purchased From                        Where Located
Estimated Life                        Estimated Salvage Values $
                               Asset Record                                Depreciation Recor
     Date         Debit      Credit            Balance             Debit
     12/31/2009   4,558.00                             4,558.00
                                      0.00



Depreciation Record
      Credit        Balance       NBV
                                 50,750.00
       5,075.00      5,075.00    45,675.00
      10,150.00     15,225.00    35,525.00
      10,150.00     25,375.00    25,375.00
      10,150.00     35,525.00    15,225.00
      10,150.00     45,675.00     5,075.00
       5,075.00     50,750.00         0.00




Depreciation Record
      Credit        Balance       NBV
                                 69,255.00
       6,925.50      6,925.50    62,329.50
      13,851.00     20,776.50    48,478.50




Depreciation Record
      Credit        Balance       NBV
                                200,660.00
      10,033.00     10,033.00   190,627.00




Depreciation Record
      Credit        Balance      NBV
                                 7,367.00
Depreciation Record
      Credit        Balance   NBV
                              4,558.00
                                                  Bank Stmt          G/L
Unadjusted Trial Balance, 12/31/09               $ 113,376.53    $ 103,169.17

Add:
 Deposit in transit- 12/23                          10,000.00
 Deposit in transit- 12/23                          10,240.00

Deduct Outstanding Checks
 Ck. #1118                            1,985.21
 Ck. #1143                            4,800.00
 Ck. #1152                              521.25
 Ck. #1153                           15,366.40
 Ck. #1154                            2,925.24
 Ck. #1155                            1,924.90
 Ck. #1156                            1,601.86
 Ck. #1157                            1,350.00
                                                   (30,474.86)

Adjustments
 Bank service charge                                                   (27.50)

                  Adjusted Balance               $ 103,141.67    $ 103,141.67

				
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