General Journal Points Other Journals Points General Ledger Po.docx

General Journal Points Other Journals Points General Ledger
Points
AR & AP Sub
Ledgers Points Worksheet Points
Bank
Reconciliation Points
Properly
formatted (date,
debit first, credit
second, etc.) 5
Properly
formatted (date,
debit first, credit
second, etc.) 5
Proper format,
dates, all posting
references 5
May 31 balances
listed with correct
DR (AR)/CR (AP) 5
Totals
balance 5
Proper format,
correct additions
and deductions,

subtotals listed 5
Only GJ entries
listed - no cash or
sales/purchases
on account - and
theyre correct 10
All entries are in
their respective
journals 20
Journal entries
have been
posted to proper
ledger accounts 10
Dates, posting
references,
proper formatting 5
Correct
DR/CR
balance
listed for
accounts 10
Correct balances
and adjusting
balance per book 10
Posting
References 5
Invoice/check no.
listed 3

May 31 blances
listed with
proper DR/CR
balance 5
Entries are under
proper
vendor/customer 5
Posting
references 7
Cash, ARC, APC
are posted
correctly and
completely
(totals from
journals, not
every single
transaction
listed) 10
June balances
are listed/clear 5
GJ Total Points 20 Total Points 35 Total Points 35 Total Points
15
Total
Points 15 Total Points 15
Perdisco Part One total points: 135
State v. Kuperus
Court of Appeals of Oregon
2011 Ore. App. Lexis 396 (2011)

Facts:
The defendant, Scott Russell Kuperus, II, and the victim were
engaged in a physical altercation when the defendant bit off a
segment of the victim’s ear. There is a noticeable scar where the
missing part of the ear should be and the victim needs to wear a
prosthetic device.
The defendant was charged with first-degree assault and second-
degree assault. Defendant requested that he be acquitted on both
charges. Defendant disputed that teeth are not a dangerous
weapon which is a required component of first-degree assault.
He also argued that there was not enough evidence to prove
second-degree assault because the victim did not endure a
serious physical injury. The trail court denied his request and
found the defendant guilty on both charges. The defendant
appealed the trial court’s ruling renewing his arguments.
The Oregon Court of Appeals overturned the first-degree
conviction and upheld the second-degree assault conviction. The
court sent the case back to the trial court for resentencing.
Issue:
1. Can teeth be considered a dangerous weapon?
2. Were the requirements of a serious physical injury met?
Decision:
1. No. The Oregon Court of Appeals found that defendant’s own
teeth are not a dangerous weapon and that the trial court made a
mistake in rejecting defendant’s request to drop the first-degree
assault charge.
2. Yes. The Oregon Court of Appeals agreed with the state
arguing that there was enough evidence to show that the victim
suffered a serious physical injury.
Reason:
The Oregon Court of Appeals first concentrated on the
defendant’s dispute to his first-degree assault conviction. They
originally looked at the wording and framework of the law.
Under state law, first-degree assault is committed when a
person intentionally uses a dangerous weapon to cause a serious
physical injury. State law defines a dangerous weapon as any

weapon used capable of causing serious physical injury. In
order to prove first-degree assault by way of a dangerous
weapon, the state needs to establish that the defendant’s teeth
are a weapon capable of causing serious physical injury. The
trial court determined that teeth are a dangerous weapon but
failed to state whether teeth are indeed a weapon. Since the trial
court failed to specify whether teeth are a weapon, the court
usually presumes that the trial court intended terms to have
their plain meaning which in this case suggests that a weapon is
something outside the human body and would not include the
defendant’s own teeth. Under a previous decision of the
Supreme Court of Oregon, the court held that a weapon is
something with which a person is armed and fortified. Based on
this decision, the Oregon Court of Appeals determined that a
defendant cannot arm himself with his own body, including his
teeth, removing it from being considered a dangerous weapon
for purposes of first-degree assault. The Oregon Court of
Appeals concluded that teeth cannot be considered a dangerous
weapon for the purpose of establishing a basis for first-degree
assault conviction of defendant.
The Oregon Court of Appeals turned to the defendant’s request
for the second-degree assault charges to be dropped because
there was insufficient evidence to demonstrate that the victim
suffered a serious physical injury. According to state law, to be
convicted of second-degree assault requires the defendant to
have intentionally caused serious physical injury to someone
else. Under state law, serious physical injury includes physical
injury which causes serious and prolonged disfigurement. The
lower portion of the victim’s ear is noticeably missing and there
is a visible scar. The victim needs to wear a prosthetic device.
Based on the facts, there was sufficient evidence for the trial
court to find that the victim suffered a serious and protracted
disfigurement and, thus, a serious physical injury. The Oregon
Court of Appeals agreed with the state arguing that the trial
court reasonably found that the victim suffered a serious and
protracted disfigurement presenting sufficient evidence that the

victim suffered a serious physical injury exists.
Title pagewww.perdisco.comspreadsheet version: PCU3e.S1
Copyright© 2006-2010 Excel spreadsheet companion
for:Perdisco Coffee and Café Supplier Accounting Practice Set,
US GAAP Edition 3PublisherPerdisco10685-B Hazelhurst
Drive, Suite 3965Houston, TX 77043, USAWebsite:
www.perdisco.comEmail: [email protected]Production
teamCommissioning publisher and development editor: Jon
CarterAuthors: Raechel Wight and Julyana CahyadiTechnical
editor: Liam CareyGraphic designer: Ryan DunnPublisher's
thanksThis practice set contains instructional content and
questions selected from our comprehensive catalog. The
production credits acknowledge the key contributors to this
work. In addition to those people listed, Perdisco would like to
thank all authors, designers and technical experts (past and
present) who have made possible the delivery of our high
quality, academically rigorous and technically advanced
learning resources.Copyright noticeThe copyrights in this
practice set are owned by Perdisco. All rights reserved. Apart
from any fair use for the purposes of private study, research,
criticism or review, as permitted under the Copyright Act, no
part of this practice set may be reproduced, stored in a retrieval
system, communicated or transmitted in any form or by any
means, electronic, mechanical, photocopying, recording or
otherwise, without the prior written permission of the publisher.
All inquiries should be addressed to the publisher.© 2006
Perdisco. Coffee & Café Supplier Accounting Practice Set US
GAAP Edition 1 published 2006.© 2008 Perdisco. Coffee &

Café Supplier Accounting Practice Set US GAAP Edition 2
published 2008.© 2010 Perdisco. Coffee & Café Supplier
Accounting Practice Set US GAAP Edition 3 published 2010.©
2010 Perdisco. This Excel spreadsheet companion for US GAAP
Edition 3 published in 2010.About the authorsRaechel Wight
(B.Bus., B.V.A) is an educator and author who has taught
undergraduate accounting at a number of universities. She has
many years experience writing educational resources for
accounting students and, in her prior professional career,
worked as an auditor for Deloitte.Julyana Cahyadi (B.Com.,
M.Bus.) teaches financial accounting and financial statement
analysis to undergraduate students. She previously worked as a
researcher for the National Centre for Banking and Capital
Markets and has since then undertaken various consulting roles
in Australia and overseas.
&LCOFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3
(PCU3e.S1)
Terms of useIt is important that all users of this Spreadsheet -
students, instructors or otherwise - read, understand and agree
to all of the Terms of Use on this page. If you do not agree,
please delete this entire Spreadsheet and all copies of it
immediately. Your continued use of this Spreadsheet is taken to
mean that you have expressly read and agreed to its Terms of
Use.Terms of UseCompanion document: This Microsoft Excel
document ('Spreadsheet') is an optional companion document
supporting Perdisco's Coffee and Café Supplier Accounting
Practice Set US GAAP Edition 3 ('Practice Set'). Please note
that this Spreadsheet does not stand alone and must be read and
used in conjunction with that Practice Set. All administrative
and academic instructions, transactions, account balances, other
data, copyrights, disclaimers and limitations set out within the
Practice Set, where possible and relevant, apply equally to this
Spreadsheet.Limitations on use: This Spreadsheet may only be
used by instructors who have adopted the Practice Set for use in
their teaching, and then only by their teaching staff and their
students, and then only for educational purposes that are

directly associated with the Practice Set. The expected use of
this Spreadsheet is to provide an optional electronic format for
students to enter their answers and then submit those answers to
their instructor for grading (for example, by email or by upload
to a course wesbite).Freely provided but limitations on
distribution: When all of the conditions for its use are met, this
Spreadsheet is provided free of any further charge (other than
any charge associated with the Practice Set itself). Even though
this Spreadsheet is provided free of charge, it is still subject to
strict copyright and limitations on its use and distribution. In
particular, this Spreadsheet (as downloaded from Perdisco's
website or as otherwise provided directly by Perdisco) and its
contents (including, but not limited to, its structure,
instructions, any numeric values, any marketing information,
and these Terms of Use) may not be altered or customized in
any way (other than what is required for a student to type in
their answers), sold or distributed in any way (including by an
instructor's email to their students or by placing it on a LAN,
WAN or internet server including any course management
system owned by any adopting university) without the written
permission of Perdisco.Limitation of liability: This Spreadsheet
and any related documentation is provided 'as is'. Perdisco
makes no warranties, express or implied, with regards to
merchantability, fitness for a particular purpose, accuracy or
completeness (nor do we accept any responsibility arising in
any way for errors in, or omissions from this Spreadsheet). In
no event shall Perdisco be liable to any instructor or student for
any damages arising from the use or the inability to use this
Spreadsheet. The user of this Spreadsheet bears all risks and
responsibility for its quality and performance.The information
on the 'Instructions' tab of this spreadsheet also forms part of
these Terms of Use.This 'Terms of Use' tab may not be deleted
or hidden.
(PCU3e.S1)
InstructionsIt is important that all users of this Spreadsheet read

and understand these instructions.Instructions for using this
Excel SpreadsheetA separate Practice Set is required: This
Spreadsheet must be read and used in conjunction with the
Practice Set named in the Terms of Use. All of the instructions,
transactions and other information needed are in that Practice
Set (not here).Ensure you have the correct Spreadsheet edition:
Perdisco publishes many practice sets and spreadsheet
companions, each of which varies in both material and subtle
ways and all of which go through updates. It is therefore
important that a companion spreadsheet be used only with the
specific practice set to which it belongs. If you are a student,
you should ensure that you obtained this Spreadsheet and its
associated Practice Set directly from your own account on the
Perdisco website. Please do not obtain either document from
any source other than your own Perdisco account because you
may not get the exact version or edition that has been approved
by your instructor. Register an account at
www.perdisco.comThis Practice Set is a manual practice set:
The use of this Spreadsheet does not automate any of the
accounting tasks for you. For example, journal entries are not
automatically posted to accounts, running balances in the
accounts are not automatically maintained, and totals are not
automatically calculated. This is by design and is meant to give
you direct experience in all elements of a manual accounting
cycle. Nevertheless, you may use Excel in any way you feel is
appropriate to assist you in completing the accounting cycle (for
example, by creating a formula for a total). It has been
deliberately left to you to identify what must be done.When to
use this Spreadsheet: Only complete this Spreadsheet if your
instructor permits its use. If you use this Spreadsheet for your
answers then there is no need to also complete the paper
accounting records provided within the Practice Set.Enter
opening balances: Note that this Spreadsheet is not set up with
the required opening balances of its various ledger accounts.
You must do this step. Before starting to enter any work into
this Spreadsheet you must first obtain a copy of the Practice Set

and transfer all of the May 31 opening balances for each ledger
account from that document into the ‘Accts receivable
subsidiary’, ‘Accts payable subsidiary’ and ‘General ledger’
tabs of this Spreadsheet.Read all instructions in the Practice
Set: Remember that it is the associated Practice Set that
determines the accounting entries in this Spreadsheet. Get a
copy of that Practice Set and read all of its instructions
carefully.Do not change this Spreadsheet: Do not make any
changes to this Spreadsheet other than entering your answers.
The format of all accounting records must be kept intact. You
should not delete accounts or lines from this Spreadsheet even
though those accounts or lines may not have any entries in
them. The page printing has been set so that it is well formatted
when printed on A4 sized paper.
(PCU3e.S1)
General journalGeneral journalDateAccount and
ExplanationPost Ref.DebitCredit
(PCU3e.S1)
Sales journalSales journalDateAccountInvoice No.Post
Ref.Amount
(PCU3e.S1)
Purchases journalsPurchases journalDateAccountTermsPost
Ref.Amount
(PCU3e.S1)
Cash receipts journalCash receipts journalDateAccountPost
Ref.DebitCreditCashSales DiscountsSales RevenueAccounts
ReceivableOther Accounts
(PCU3e.S1)
Cash payments journalCash payments journalDateAccountCheck
No.Post Ref.DebitCreditAccounts PayablePurchasesOther
AccountsCashPurchase Discounts

(PCU3e.S1)
Accts receivable subsidiaryAccounts receivable subsidiary
ledgerAccount: ARC - Central CoffeeAccount No. 110-
1DateDescriptionRef.DebitCreditBalanceAccount: ARC - Con's
CoffeeAccount No. 110-
2DateDescriptionRef.DebitCreditBalanceAccount: ARC -
SloZoneAccount No. 110-
3DateDescriptionRef.DebitCreditBalanceAccount: ARC - Quick
Bolt CoffeeAccount No. 110-
Revamp Coffee CartsAccount No. 110-
Jandesh's Hot SpotAccount No. 110-
6DateDescriptionRef.DebitCreditBalance
(PCU3e.S1)
Accts payable subsidiaryAccounts payable subsidiary
ledgerAccount: APC - Brazil Imports GroupAccount No. 210-
1DateDescriptionRef.DebitCreditBalanceAccount: APC - East
Tangiers Co-op.Account No. 210-
2DateDescriptionRef.DebitCreditBalanceAccount: APC -
Abejundio CoffeeAccount No. 210-
3DateDescriptionRef.DebitCreditBalanceAccount: APC - Buena
Vista CoffeeAccount No. 210-
4DateDescriptionRef.DebitCreditBalanceAccount: APC - Klam
WholesalersAccount No. 210-
5DateDescriptionRef.DebitCreditBalanceAccount: APC - Jordo
Gourmet CoffeeAccount No. 210-
(PCU3e.S1)
General ledgerGeneral ledgerAccount: CashAccount No.
100DateDescriptionRef.DebitCreditBalanceAccount: Short-term
InvestmentsAccount No.

Accounts Receivable ControlAccount No.
110DateDescriptionRef.DebitCreditBalanceAccount: Interest
ReceivableAccount No.
112DateDescriptionRef.DebitCreditBalanceAccount:
Merchandise InventoryAccount No.
120DateDescriptionRef.DebitCreditBalanceAccount: Office
SuppliesAccount No.
130DateDescriptionRef.DebitCreditBalanceAccount: Prepaid
RentAccount No.
AdvertisingAccount No.
InsuranceAccount No.
FurnitureAccount No.
150DateDescriptionRef.DebitCreditBalanceAccount: Accum
Depn: Office FurnitureAccount No.
EquipmentAccount No.
160DateDescriptionRef.DebitCreditBalanceAccount: Accum
Depn: Office EquipmentAccount No.
161DateDescriptionRef.DebitCreditBalanceAccount: APC -
Accounts Payable ControlAccount No.
210DateDescriptionRef.DebitCreditBalanceAccount: Wages
PayableAccount No.
220DateDescriptionRef.DebitCreditBalanceAccount: Electricity
PayableAccount No.
221DateDescriptionRef.DebitCreditBalanceAccount: Water
PayableAccount No.
PayableAccount No.
225DateDescriptionRef.DebitCreditBalanceAccount: Bank Loan
PayableAccount No.
250DateDescriptionRef.DebitCreditBalanceAccount: Common
StockAccount No.
300DateDescriptionRef.DebitCreditBalanceAccount: Retained

EarningsAccount No.
301DateDescriptionRef.DebitCreditBalanceAccount: Income
SummaryAccount No.
310DateDescriptionRef.DebitCreditBalanceAccount: Sales
RevenueAccount No.
Returns and AllowancesAccount No.
DiscountsAccount No.
RevenueAccount No.
PurchasesAccount No.
500DateDescriptionRef.DebitCreditBalanceAccount: Purchase
Returns and AllowancesAccount No.
501DateDescriptionRef.DebitCreditBalanceAccount: Purchase
DiscountsAccount No.
Advertising ExpenseAccount No.
511DateDescriptionRef.DebitCreditBalanceAccount: Wages
ExpenseAccount No.
516DateDescriptionRef.DebitCreditBalanceAccount: Rent
ExpenseAccount No.
540DateDescriptionRef.DebitCreditBalanceAccount: Electricity
ExpenseAccount No.
541DateDescriptionRef.DebitCreditBalanceAccount: Water
ExpenseAccount No.
542DateDescriptionRef.DebitCreditBalanceAccount: Insurance
ExpenseAccount No.
Supplies ExpenseAccount No.
544DateDescriptionRef.DebitCreditBalanceAccount: Salary
ExpenseAccount No.
545DateDescriptionRef.DebitCreditBalanceAccount: Depn
Expense: Office FurnitureAccount No.
560DateDescriptionRef.DebitCreditBalanceAccount: Depn

Expense: Office EquipmentAccount No.
ExpenseAccount No.
571DateDescriptionRef.DebitCreditBalanceAccount: Admin.
Expense - Bank ChargesAccount No.
(PCU3e.S1)
Bank reconciliationBank reconciliation statementMoondollars
Bank Reconciliation Statement
June 30, 20XX
(PCU3e.S1)
WorksheetMoondollars - WorksheetJune 30, 20XXAcct.
No.Account NameUnadjusted Trial
BalanceAdjustmentsAdjusted Trial BalanceIncome
StatementBalance
SheetDebitCreditDebitCreditDebitCreditDebitCreditDebitCredit
100Cash102Short-term Investments110ARC - Accounts
Receivable Control112Interest Receivable120Merchandise
Inventory130Office Supplies140Prepaid Rent141Prepaid
Advertising142Prepaid Insurance150Office Furniture151Accum
Depn: Office Furniture160Office Equipment161Accum Depn:
Office Equipment210APC - Accounts Payable Control220Wages
Payable221Electricity Payable222Water Payable225Interest
Payable250Bank Loan Payable300Common Stock301Retained
Earnings400Sales Revenue401Sales Returns and
Allowances402Sales Discounts403Interest
Revenue500Purchases501Purchase Returns and
Allowances502Purchase Discounts511Advertising
Expense516Wages Expense540Rent Expense541Electricity
Expense542Water Expense543Insurance Expense544Office
Supplies Expense545Salary Expense560Depn Expense: Office
Furniture561Depn Expense: Office Equipment571Interest
Expense572Admin. Expense - Bank ChargesTotalsNet income
or lossTotals

(PCU3e.S1)
Schedules of accountsSchedule of accounts
receivableMoondollars
Schedule of Accounts Receivable
June 30, 20XXAccount No.NameDebit
($)Credit
($)TotalSchedule of accounts payableMoondollars
Schedule of Accounts Payable
($)Credit
($)TermsTotal
(PCU3e.S1)
Income statementMoondollars
Income Statement
For the month ended June 30, 20XXINCOMERevenueNet sales
revenueCOST OF GOODS SOLDGROSS PROFITOPERATING
EXPENSESSelling expensesTotal selling expensesGeneral and
administrative expensesTotal general and administrative
expensesTOTAL OPERATING EXPENSESINCOME/(LOSS)
FROM OPERATIONSOther revenueOther expensesNET
INCOME/(LOSS)
(PCU3e.S1)
Stockholders' equityMoondollars
Statement of Stockholders' Equity
For the month ended June 30, 20XXCOMMON STOCKOpening
balance May 31, 20XXIssue of common stockClosing balance
June 30, 20XXRETAINED EARNINGSOpening balance May
31, 20XXNet income/(loss)Dividend paidClosing balance June
30, 20XX
(PCU3e.S1)
Balance sheetMoondollars
Balance Sheet

June 30, 20XXASSETSCurrent AssetsTotal Current
AssetsProperty, Plant and EquipmentTotal Property, Plant and
EquipmentTOTAL ASSETSLIABILITIESCurrent
LiabilitiesTotal Current LiabilitiesLong-term LiabilitiesTOTAL
LIABILITIESSTOCKHOLDERS' EQUITYTOTAL
EQUITYTOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY
(PCU3e.S1)
Post-closing trial balanceMoondollars Post-closing Trial
Balance
($)Credit
($)Total
(PCU3e.S1)
© 2006-2010 Perdisco Coffee and Café Supplier Accounting
Practice Set, US GAAP Edition 3
Publisher
Perdisco
10685-B Hazelhurst Drive, Suite 3965
Houston, TX 77043
USA
Website: www.perdisco.com
Email: [email protected]
Production team
Commissioning publisher and development editor: Jon Carter
Authors: Raechel Wight and Julyana Cahyadi

Technical editor: Liam Carey
Graphic designer: Ryan Dunn
Publisher's thanks
This practice set contains instructional content and questions
selected from our comprehensive catalog. The
production credits acknowledge the key contributors to this
work. In addition to those people listed, Perdisco
would like to thank all authors, designers and technical experts
(past and present) who have made possible the
delivery of our high quality, academically rigorous and
technically advanced learning resources.
Copyright notice
The copyrights in this practice set are owned by Perdisco. All
rights reserved. Apart from any fair use for the
purposes of private study, research, criticism or review, as
permitted under the Copyright Act, no part of this
practice set may be reproduced, stored in a retrieval system,
communicated or transmitted in any form or by any
means, electronic, mechanical, photocopying, recording or
otherwise, without the prior written permission of
the publisher. All inquiries should be addressed to the
publisher.
An electronic version of the practice set is provided free of
charge to instructors and undergraduate students
enrolled at a government-recognized higher education body in
the US. It is not provided freely to any other
person. Even though the practice set is provided free of charge,
it is still subject to strict copyright and
limitations on its use and distribution. In particular, the practice
set and its contents (including, but not limited
to, its structure, instructions, any numeric values, any marketing
information, and this copyright notice) may not
be altered or customized in any way (other than what is required

for a student to supply their answers), sold or
distributed in any way (including by an instructor's email to
their students or by placing it on a LAN, WAN or
internet server including any course management system owned
by any adopting university) without the written
permission of Perdisco.
© 2006 Perdisco. Coffee and Café Supplier Accounting Practice
Set US GAAP Edition 1 published in 2006.
About the authors
Raechel Wight (B.Bus., B.V.A) is an educator and author who
has taught undergraduate accounting at a number
of universities. She has many years experience writing
educational resources for accounting students and, in her
prior professional career, worked as an auditor for Deloitte.
Julyana Cahyadi (B.Com., M.Bus.) teaches financial accounting
and financial statement analysis to
undergraduate students. She previously worked as a researcher
for the National Centre for Banking and Capital
Markets and has since then undertaken various consulting roles
in Australia and overseas.
Contents
Study time guidelines
........................................................................................ .......
................................. 2

Overview
...............................................................................................
..................................................... 3
Background information
...............................................................................................
........................................... 3
Accounting
policies...................................................................................
................................................................ 3
Accounting procedures
...............................................................................................
............................................. 4
Instructions.............................................................................
................................................................... 6
Transactions
...............................................................................................
................................................................ 6
End of month posting
...............................................................................................
............................................... 6
Bank reconciliation
...............................................................................................
.................................................... 6
Unadjusted trial balance
...............................................................................................
............................................ 6
Worksheet...............................................................................
.................................................................................... 6
Adjusting
entries.....................................................................................
................................................................... 7
Schedules of
accounts..................................................................................
............................................................. 7

Financial
statements...............................................................................
................................................................... 7
Closing entries
...............................................................................................
............................................................ 7
Post-closing trial
balance...................................................................................
....................................................... 7
Reversing entries
...............................................................................................
........................................................ 7
Further information
...............................................................................................
.................................... 8
Chart of accounts
...............................................................................................
....................................................... 8
Schedule of accounts receivable ~
May........................................................................................
......................... 9
Schedule of accounts payable ~ May
...............................................................................................
...................... 9
Post-closing trial balance ~
May........................................................................................
................................... 10
Bank reconciliation statement ~ May
...............................................................................................
................... 11
Bank statement ~ June
...............................................................................................
............................................ 12
Transactions

...............................................................................................
............................................. 13
General journal
...............................................................................................
......................................... 16
Special Journals
...............................................................................................
........................................ 21
Sales
journal....................................................................................
.......................................................................... 21
Purchases
journal....................................................................................
................................................................. 21
Cash receipts
journal....................................................................................
........................................................... 22
Cash payments journal
...............................................................................................
............................................ 23
Ledgers
...............................................................................................
..................................................... 25
Accounts receivable subsidiary
ledger.....................................................................................
............................. 26
Accounts payable subsidiary ledger
...............................................................................................
....................... 28
General
ledger.....................................................................................
..................................................................... 30
Final statements

...............................................................................................
....................................... 45
Bank reconciliation statement
...............................................................................................
................................ 46
Worksheet...............................................................................
.................................................................................. 48
Schedule of accounts
receivable...............................................................................
............................................. 50
Schedule of accounts payable
............................................................................... ................
................................. 50
Income
statement.................................................................................
................................................................... 51
Statement of stockholders' equity
...............................................................................................
.......................... 52
Balance
sheet.......................................................................................
..................................................................... 53
Post-closing trial
balance...................................................................................
..................................................... 54
Study time guidelines
Your accounting practice set is a large activity that will take
approximately 18 hours or more of study. As such, you
will not complete the whole practice set in one sitting. The
timeframes that we are suggesting on this page measure
study time spent directly working with this practice set.
Depending on the submission guidelines set by your instructor,

your study time may be spread over many days or
weeks. The study times below are provided only to give you a
general guide as to how to allocate your time when
completing the sections in your practice set. Breaking your
study time into blocks will help maintain your
concentration while performing the tasks required.
Some students will take less time to complete their accounting
practice set, other students will take longer. That is OK.
Subject to the deadlines set by your instructor, please take as
much or as little time as you need.
Accounting
cycle step
Approximate
study time
Reading time Up to 0.5 hour
Transactions - week 1 Up to 2 hours
Transactions - week 2 Up to 1 hour
End of month posting Up to 1.5 hours
Bank reconciliation Up to 1.5 hours
Unadjusted trial balance Up to 1 hour

Worksheet Up to 2 hours
Adjusting entries Up to 1 hour
Schedules of accounts Up to 0.25 hour
Financial statements Up to 1.5 hours
Closing entries Up to 1.5 hours
Post-closing trial balance Up to 0.25 hour
Reversing entries Up to 1 hour
TOTAL all steps (approximate) Up to 18 hours
2 PERDISCO ACCOUNTING PRACTICE SET (PCU3e)
Overview
Background information
Assume it is currently June 30, 20XX.
You are working for the temporary accounting employment
agency known as Tempters.
Today you have been asked to work at Moondollars, a small
coffee supplies store that
operates in the city and is owned by Adrian Bartos. Your task
here is to complete the
accounting cycle for Moondollars for the month of June 20XX.
To assist you in this task,
Adrian tells you to read the company's accounting policies and
procedures. Note that you
will be required to follow these policies and procedures when

completing the accounts
for Moondollars.
Accounting policies
Business operations: Moondollars is set up as a private non-
listed corporation based in the city witha.
Adrian Bartos as the sole stockholder. The business derives its
main source of revenue from retail sales of coffee
supplies.
To assist in managing the business, Moondollars rents a small
office space. Note that the business is required to
pay for the rent for this premises in advance.
The electricity and water expenses incurred during the month
relate to the running of the office. Additional
expenses include an insurance policy to protect the equipment
in the office in the event of theft or fire.
All costs associated with the office are classified as general and
administrative expenses.
Adrian is the only full-time employee and his role is to handle
all administrative tasks. Adrian's salary is paid once
at the end of each month. All other employees are sales staff
who are employed on a part-time basis. The sales
staff receive their wages every two weeks.
Accounting cycle: The business adopts a monthly accounting
cycle.b.
Purchases: Purchases are recorded when the business receives
the goods. All items purchased are received on thec.
same day as recorded in the transaction list, except for purchase
orders which are received at a later date. Note that
the business uses the gross method of recording purchases and

receives trade discounts and early payment
discounts from some suppliers.
Purchase returns: To allow Adrian to separately track and
analyze the value of goods returned to suppliers, alld.
purchase returns are recorded in the Purchase Returns and
Allowances account rather than directly in the
Purchases account.
Revenue recognition: The business recognizes revenues when
goods sold are delivered to customers. All itemse.
sold are delivered on the same day as recorded in the
transaction list except for sales orders, which are delivered at
a later date as agreed with the customer. Note that the business
uses the gross method of recording sales and
sometimes grants trade discounts to customers. Past experience
has shown that offering early payment discounts
did not increase the likelihood of accounts receivable being paid
promptly. Therefore, discounts for early payment
of accounts are not normally offered to credit customers except
in exceptional circumstances.
Sales returns: So that the business can easily track the level of
sales returns in relation to overall sales, all salesf.
returns are recorded using a contra revenue account (Sales
Returns and Allowances) rather than being recorded
directly in the Sales Revenue account.
COFFEE & CAFÉ SUPPLIER - US GAAP EDITION 3 (PCU3e)
3
Sales tax: Adrian has advised you to ignore the effect of sales
tax. [ASIDE: This is an assumption to make theg.
practice set easier for you to complete. In the real world, sales

tax cannot be ignored.]
Cash: The business accepts cash and checks and uses checks to
pay for the majority of its expenses. On the dayh.
checks are received, Adrian deposits them at the bank. It may
take a number of days for the checks to be cleared
by the bank. The business holds its checking account with
BitiBank.
Short-term investments: The business holds a six-month term
deposit account with BitiBank. Interest isi.
calculated on a monthly basis and received at the end of the
deposit term. Note that when the deposit matures,
Adrian usually rolls over the principal and interest received at
the end of the term. The term deposit account was
rolled over on June 1, 20XX.
Inventories: The business uses the periodic inventory system
and and records all purchases of inventory in thej.
Purchases account, rather than recording them directly in the
Merchandise Inventory account. At the end of the
reporting period, the Purchases account and the opening balance
of the Merchandise Inventory account are closed
to the Income Summary account and Merchandise Inventory is
restated to its ending balance. Note that the
company does not use a Cost of Goods Sold account.
Prepayments: The business has a policy of recording
prepayments, including office supplies, as assets. At the endk.
of the month, adjustments are made to the relevant accounts to
recognize the expense incurred during the
accounting period.
Property, plant and equipment: Property, plant and equipment
items are depreciated over their estimated usefull.
life using the straight line method to calculate the depreciation

charge.
Long-term liabilities: The business obtained an interest only
loan from MRMC Bank on June 1, 20XX. The firstm.
interest payment is due at the end of August 20XX and the
principal on the loan is due at the beginning of June
four years later.
Accounting procedures
Moondollars adopts a manual accounting system and uses the
general journal and special journals for the recording of
individual transactions. Adrian Bartos has tailored the design of
those journals to meet the specific needs of the
business so the format of those journals may be slightly
different to those you have seen before. However, he advises
you that the general principles of how to use special journals
are followed in his business.
The table below shows the journals used by the business and the
types of transactions that can be recorded in each of
these journals:
Journal Code Transaction type
General journal GJ All transactions that are not able to be
recorded in the
special journals below.
Sales journal SJ Credit sales of inventory
Purchases journal PJ Credit purchases of inventory
Cash receipts journal CRJ Cash inflows to the business
Cash payments journal CPJ Cash outflows from the business

To summarize the effects of transactions recorded in those
journals, Adrian maintains the general ledger and the
following subsidiary ledgers:
▪ accounts receivable subsidiary ledger, and
▪ accounts payable subsidiary ledger.
Adrian then indicates that he is aware other businesses using a
manual accounting system may post transactions from
journals to ledgers at different times (i.e. daily or monthly).
Although the posting procedures used in his business may
be different to what you have seen before, he asks that you
specifically follow his company's accounting policies and
procedures.
The information below explains when transactions are required
to be posted from the journals to the appropriate
ledger accounts:
Posting of entries recorded in the general journal
All transactions that are entered in the general journal are
posted on a daily basis. Note that if a transaction recorded in
the general journal involves both a control account and a
subsidiary ledger account, that journal entry will need to be
posted to both ledgers.
Posting of entries recorded in the special journals
When a transaction is recorded in a special journal, part of the
journal entry may need to be posted daily and part of
that entry is to be posted monthly.

Daily:a.
▪ If a transaction affects a subsidiary ledger account, then the
entry that involves a subsidiary ledger account
is to be posted to that subsidiary ledger on a daily basis.
However, the same amount posted to the
subsidiary ledger account is not posted to the related control
ledger account immediately. This procedure
allows the business to keep track of supplier and customer
balances on a daily basis.
▪ In the cash receipts journal or the cash payments journal, if a
transaction is recorded in the Other Accounts
column, then the amount recorded in the Other Accounts column
is to be posted to the appropriate
general ledger account daily.
Monthly:b.
▪ At the end of the month, the totals of each column in the
special journals are manually calculated. Those
totals, with the exception of the totals of the Other Accounts
columns in the cash journals, are posted to
the appropriate general ledger accounts at the end of the month.
5
Instructions
Now that you have reviewed information about Moondollars,
you are ready to complete the accounting cycle for
Moondollars for the month of June. To start with, Adrian gives
you the transaction list for the month of June and all

the journals, ledgers and final statements you will need to
complete this task. He also mentions that you will be
required to record reversing entries at the beginning of July.
Adrian provides the following list of tasks you are required to
perform for June and the beginning of July:
1. Transactions
Record all transactions in the relevant journals. Note that
special journals must be used where applicable. Anya.
transaction that cannot be recorded in a special journal should
be recorded in the general journal.
Post entries recorded in the journals to the appropriate ledger
accounts according to the company's accountingb.
policies and procedures.
Remember to enter all answers to the nearest whole dollar.
When calculating a discount, if a discount is not a whole
number, round the discount to the nearest whole dollar. Then, to
calculate the Cash amount, subtract the discount
from the original amount.
2. End of month posting
Total the columns in the special journals.a.
Post the totals of the columns in the special journals to their
corresponding ledger accounts. To confirm that theb.
posting has been performed, a posting reference is recorded in
the last row of the special journals. If the total of a
column is not required to be posted (because the entries in that
column have already been posted on a daily basis)
you need to record an X in the post reference field for that
column.
3. Bank reconciliation
Prepare the bank reconciliation statement as at June 30.a.
Identify and record the relevant reconciling items in the general
journal, and post them to the relevant accounts.b.

4. Unadjusted trial balance
Complete the unadjusted trial balance as at June 30 on the
worksheet provided.
5. Worksheet
Use the following information to record adjustments in the
Adjustments column of the worksheet:a.
▪ furniture: Depreciation on the furniture owned by the business
for the month of June is $156.
▪ equipment: Depreciation on the equipment owned by the
business for the month of June is $366.
▪ Electricity expense for the month of June is estimated to be
$874.
▪ The water usage for the month of June is estimated to be $235.
▪ The amount of wages incurred during the month of June but
not yet paid to sales staff is $1,320.
▪ Interest expense incurred during the month of June but not yet
paid to MRMC Bank for the bank loan is
$275.
▪ Interest earned from short-term investments in BitiBank for
the month of June is $100.
▪ The value of office supplies used during the month of June is
$4,037.
▪ $3,000 worth of prepaid rent expired during the month of
June.
▪ $3,000 worth of prepaid advertising was used up in June.
▪ $590 worth of prepaid insurance expired during the month of
June.
Complete the remaining columns of the worksheet. After taking
a physical count of inventory, the balance ofb.
inventory on hand as at June 30 is $60,857. You will need to
use this information to complete both the Income

Statement and the Balance Sheet columns of the worksheet.
Note that Merchandise Inventory is recorded in the
Income Statement columns. Hint: This information will assist
you in calculating cost of goods sold under the
periodic inventory system.
6. Adjusting entries
Use the worksheet to help journalize adjustments for June.
Record adjusting entries in the general journal.a.
Post the adjusting entries from the general journal to the
relevant ledgers.b.
7. Schedules of accounts
Create a schedule of accounts receivable balances as at the end
of June.a.
Create a schedule of accounts payable balances as at the end of
June.b.
8. Financial statements
Prepare an income statement for the month of June.a.
Prepare a statement of stockholders' equity for the month of
June.b.
Prepare a balance sheet as at the end of June.c.
9. Closing entries
Journalise closing entries in the general journal.a.
Post the closing entries from the general journal to the relevant
ledger accounts.b.
10. Post-closing trial balance
Prepare a post-closing trial balance as at the end of June.

11. Reversing entries
On the first day of July, record in the general journal any
entries that are required to reverse the followinga.
adjusting entries from the month of June:
▪ Water expense incurred but not paid
▪ Electricity expense incurred but not paid
▪ Wages owed to the employees but have not yet been paid in
cash
▪ Interest expense incurred but not paid to the lender
▪ Interest earned but not received in cash
Post the reversing entries from the general journal to the
relevant general ledger accounts.b.
After completing the tasks for Moondollars, you should double
check your work and ensure that you have completed
all of the accounting records before submitting them for review.
7
Further information
Chart of accounts
Account No. Name
100 Cash
102 Short-term Investments
110 ARC - Accounts Receivable Control
112 Interest Receivable
120 Merchandise Inventory
130 Office Supplies

140 Prepaid Rent
141 Prepaid Advertising
142 Prepaid Insurance
150 Office Furniture
151 Accum Depn: Office Furniture
160 Office Equipment
161 Accum Depn: Office Equipment
210 APC - Accounts Payable Control
220 Wages Payable
221 Electricity Payable
222 Water Payable
225 Interest Payable
250 Bank Loan Payable
300 Common Stock
301 Retained Earnings
310 Income Summary
400 Sales Revenue
401 Sales Returns and Allowances
402 Sales Discounts
403 Interest Revenue
500 Purchases
501 Purchase Returns and Allowances
502 Purchase Discounts
511 Advertising Expense
516 Wages Expense
540 Rent Expense
541 Electricity Expense
542 Water Expense
543 Insurance Expense
544 Office Supplies Expense
545 Salary Expense
560 Depn Expense: Office Furniture
561 Depn Expense: Office Equipment
571 Interest Expense
572 Admin. Expense - Bank Charges

Schedule of accounts receivable ~ May
Moondollars
May 31, 20XX
Account No. Name Debit($)
Credit
($)
110-1 ARC - Central Coffee 2,844
110-2 ARC - Con's Coffee 3,881
110-3 ARC - SloZone 2,144
110-4 ARC - Quick Bolt Coffee 3,701
110-5 ARC - Revamp Coffee Carts
110-6 ARC - Jandesh's Hot Spot
Total 12,570
Please note: Moondollars does not generally give a discount for
early payment except in exceptional circumstances.
All debtors are on net 30 credit terms.
Schedule of accounts payable ~ May
Moondollars

May 31, 20XX
Credit
($) Terms
210-1 APC - Brazil Imports Group 3,432 2/10, n/30
210-2 APC - East Tangiers Co-op. 3,781 1/15, n/30
210-3 APC - Abejundio Coffee 4,668 net 30
210-4 APC - Buena Vista Coffee 1,413 2/10, n/30
210-5 APC - Klam Wholesalers 3,144 net 30
210-6 APC - Jordo Gourmet Coffee net 30
Total 16,438
9
Post-closing trial balance ~ May
Moondollars - Post-closing trial balance, As at May 31, 20XX
Credit
($)
100 Cash 29,477

102 Short-term Investments 20,000
110 ARC - Accounts Receivable Control 12,570
112 Interest Receivable
120 Merchandise Inventory 73,322
130 Office Supplies 7,083
140 Prepaid Rent 6,000
141 Prepaid Advertising 9,000
142 Prepaid Insurance 2,950
150 Office Furniture 9,000
151 Accum Depn: Office Furniture 2,031
160 Office Equipment 43,000
161 Accum Depn: Office Equipment 13,532
210 APC - Accounts Payable Control 16,438
220 Wages Payable
221 Electricity Payable
222 Water Payable
225 Interest Payable
250 Bank Loan Payable
300 Common Stock 80,000
301 Retained Earnings 100,401
Total 212,402 212,402
Bank reconciliation statement ~ May
Moondollars
As at May 31, 20XX
Balance per bank: $32,182
Add:
deposit in transit from Quick Bolt Coffee $3,685

deposit in transit from Central Coffee 1,210 4,895
37,077
Deduct:
outstanding check No. 901 $6,900
outstanding check No. 902 700 7,600
Adjusted balance per bank $29,477
Balance per book: $29,348
Add:
interest earned 134
29,482
Deduct:
bank service charge 5
Adjusted balance per book $29,477
11
Bank statement ~ June
Seattle branch
Adrian Bartos
102 Martin Road
Seattle, WA 98101
Account No.
69932616
Page No.

1
Moondollars
Date Particulars Debit Credit Balance
JUN 1 BALANCE BROUGHT FORWARD $32,182 CR
JUN 1 901 $6,900 $25,282 CR
JUN 2 902 $700 $24,582 CR
JUN 4 LOAN $55,000 $79,582 CR
JUN 4 DEPOSIT - Quick Bolt Coffee $3,685 $83,267 CR
JUN 5 903 $3,743 $79,524 CR
JUN 5 DEPOSIT - Central Coffee $1,210 $80,734 CR
JUN 6 904 $1,385 $79,349 CR
JUN 6 DEPOSIT - Cash sales $5,961 $85,310 CR
JUN 9 905 $220 $85,090 CR
JUN 10 DEPOSIT - Central Coffee $2,560 $87,650 CR
JUN 14 906 $3,144 $84,506 CR
JUN 20 907 $5,103 $99,142 CR

JUN 23 DEPOSIT - Jandesh's Hot Spot $300 $99,442 CR
JUN 26 NSF CHECK - Jandesh's Hot Spot $300 $99,142 CR
JUN 29 909 $3,425 $105,309 CR
JUN 30 DEPOSIT - Quick Bolt Coffee $3,701 $109,010 CR
JUN 30 910 $5,582 $103,428 CR
JUN 30 INTEREST $234 $103,662 CR
JUN 30 SERVICE CHARGE $5 $103,657 CR
Last statement to
05/31/XX
This statement to
06/30/XX
Total debits
$30,507
Total credits
$101,982
Final balance
$103,657 CR
Proceeds of checks will not be available until cleared.
All entries for the last business day are subject to verification
and authorization. Any items not paid, or withdrawn, will be
adjusted by reversal entry on a later
statement.

NSF means Not-Sufficient-Funds
Transactions for June
You will use the following five weeks of transactions as you
complete the books for June. Note that the transactions
are divided into five separate weeks to help you break your
study time into blocks.
Week 1
Date Transaction description
1 Purchased Coffee Cup Lids from Abejundio Coffee for $160,
terms net 30.
1 Purchased Gourmet Cubed Sugar from Brazil Imports Group
for $200, terms 2/10, n/30.
1 Obtained a loan of $55,000 from MRMC Bank at a simple
interest rate of 6% per year. The first interest
payment is due at the end of August 20XX and the principal of
the loan is to be repaid at the beginning
of June four years later.
2 Paid the full amount owing to East Tangiers Co-op., Check
No. 903. Payment fell within discount period.
2 Paid the full amount owing to Buena Vista Coffee, Check No.
904. Payment fell within discount period.
3 Purchased Gourmet Cream with cash for $220, Check No. 905.
4 Made cash sales of $5,961 during the first 4 days of the
month.
7 Sold 5 bags of Medium Roast Arabica Coffee Beans to
SloZone for $287 each, Invoice No. 201.
Week 2

9 Central Coffee paid the full amount owing on their account.
Since Central Coffee has been a loyal
customer from the day the business commenced, a 10% discount
was given for this early repayment.
11 Made cash sales of $10,081 during the week.
11 SloZone returned $1,198 worth of product. Issued a Credit
Memorandum for $1,198.
12 Sold Chocolate Sprinkles to Jandesh's Hot Spot for $484,
Invoice No. 202.
13 Paid the full amount owing to Klam Wholesalers, Check No.
906.
Week 3
15 Paid sales staff wages of $5,103 for the two weeks up to and
including yesterday, Check No. 907.
17 Sold 10 boxes of Plastic Condiment Containers to Revamp
Coffee Carts for $206 each, Invoice No. 203.
18 Returned $1,403 worth of faulty product to Abejundio
Coffee. Received a Credit Memorandum for
$1,403.
19 Jandesh's Hot Spot paid $300 in partial payment of their
account.
21 SloZone paid the full amount owing on their account.
21 Received a purchase order from Jandesh's Hot Spot. Created
a corresponding sales order to deliver
Gourmet Cream to this customer for $470, Invoice No. 204.
13

Week 4
24 Delivered Gourmet Cream to Jandesh's Hot Spot for $470,
Invoice No. 204, which was ordered on the
21st.
26 Paid the full amount owing to Brazil Imports Group, Check
No. 908.
27 Paid the full amount owing to Abejundio Coffee, Check No.
909.
28 Ordered Organic Chocolate Cream Liqueur from Buena Vista
Coffee for $155, agreed terms with Buena
Vista Coffee are 2/10, n/30.
Week 5
29 Paid sales staff wages of $5,582 for the two weeks up to and
including yesterday, Check No. 910.
30 Received Organic Chocolate Cream Liqueur for $155, which
was ordered on the 28th, agreed terms with
Buena Vista Coffee are 2/10, n/30.
30 Quick Bolt Coffee paid the full amount owing on their
account.
30 Made cash sales of $6,629 during the last 5 days of the
month.
30 Paid monthly salary of $5,200 to Adrian Bartos, Check No.
911.

General journal
Date Account and Explanation PostRef. Debit Credit
Record transaction entries below
Record bank reconciliation entries on the next page
General journal
Record bank reconciliation entries below
Record adjusting entries on the next page
17
General journal
Record adjusting entries below
Record closing entries on the next page

General journal
Record closing entries below
Record reversing entries on the next page
19
General journal
Record reversing entries below
Sales journal
Date Account InvoiceNo.
Post
Ref. Amount
Purchases journal
Date Account Terms PostRef. Amount
21

C
as
h
re
ce
ip
ts
jo
ur
na
l
D
eb
it
C
re
di
t
D
at
e
A
cc

ou
nt
P
os
t
R
ef
.
C
as
h
S
al
es
D
is
co
un
ts
S
al
es
R
ev

en
ue
A
cc
ou
nt
s
R
ec
ei
va
bl
e
O
th
er
A
cc
ou
nt
s
22
P

E
R
D
IS
C
O
A
C
C
O
U
N
T
IN
G
P
R
A
C
T
IC
E
S
E

T
(
P
C
U
3e
)
C
as
h
pa
ym
en
ts
jo
ur
na
l
D
eb
it
C

re
di
t
D
at
e
A
cc
ou
nt
C
he
ck
N
o.
P
os
t
R
ef
.
A
cc
ou

nt
s
P
ay
ab
le
P
ur
ch
as
es
O
th
er
A
cc
ou
nt
s
C
as
h
P
ur

ch
as
e
D
is
co
un
ts
C
O
F
F
E
E
&
C
A
F
É
S
U
P
P
LI

E
R
-
U
S
G
A
A
P
E
D
IT
IO
N
3
(
P
C
U
3e
)
23
Blank page for your notes

Accounts receivable subsidiary ledger
Account: ARC - Central Coffee
Account No. 110-1
Date Description Ref. Debit Credit Balance
May 31 Balance 2,844 DR
Account: ARC - Con's Coffee
Account No. 110-2
Account: ARC - SloZone
Account No. 110-3
Accounts receivable subsidiary ledger
Account: ARC - Quick Bolt Coffee
Account No. 110-4

Account: ARC - Revamp Coffee Carts
Account No. 110-5
May 31 Balance 0
Account: ARC - Jandesh's Hot Spot
Account No. 110-6
May 31 Balance 0
27
Account: APC - Brazil Imports Group
Account No. 210-1
May 31 Balance 3,432 CR
Account: APC - East Tangiers Co-op.dio Coffee
Account No. 210-2

Account: APC - Abejundio Coffee
Account No. 210-3
Account: APC - Buena Vista Coffee
Account No. 210-4
Account: APC - Klam Wholesalers
Account No. 210-5
Account: APC - Jordo Gourmet Coffee
Account No. 210-6
May 31 Balance 0
29

General ledger
Account: Cash
Account No. 100
Account: Short-term Investments
Account No. 102
Account: ARC - Accounts Receivable Control
Account No. 110
General ledger
Account: Interest Receivable
Account No. 112
May 31 Balance 0

Account: Merchandise Inventory
Account No. 120
Account: Office Supplies
Account No. 130
31
General ledger
Account: Prepaid Rent
Account No. 140
Account: Prepaid Advertising
Account No. 141
Account: Prepaid Insurance

Account No. 142
General ledger
Account: Office Furniture
Account No. 150
Account: Accum Depn: Office Furniture
Account No. 151
Account: Office Equipment
Account No. 160
33

General ledger
Account: Accum Depn: Office Equipment
Account No. 161
Account: APC - Accounts Payable Control
Account No. 210
Account: Wages Payable
Account No. 220
May 31 Balance 0
General ledger
Account: Electricity Payable
Account No. 221
May 31 Balance 0
Account: Water Payable

Account No. 222
May 31 Balance 0
Account: Interest Payable
Account No. 225
May 31 Balance 0
35
General ledger
Account: Bank Loan Payable
Account No. 250
May 31 Balance 0
Account: Common Stock
Account No. 300
Account: Retained Earnings
Account No. 301

General ledger
Account: Income Summary
Account No. 310
May 31 Balance 0
Account: Sales Revenue
Account No. 400
May 31 Balance 0
Account: Sales Returns and Allowances
Account No. 401
May 31 Balance 0
37
General ledger

Account: Sales Discounts
Account No. 402
May 31 Balance 0
Account: Interest Revenue
Account No. 403
May 31 Balance 0
Account: Purchases
Account No. 500
May 31 Balance 0
General ledger
Account: Purchase Returns and Allowances
Account No. 501
May 31 Balance 0
Account: Purchase Discounts
Account No. 502

May 31 Balance 0
Account: Advertising Expense
Account No. 511
May 31 Balance 0
39
General ledger
Account: Wages Expense
Account No. 516
May 31 Balance 0
Account: Rent Expense
Account No. 540
May 31 Balance 0
Account: Electricity Expense
Account No. 541

May 31 Balance 0
General ledger
Account: Water Expense
Account No. 542
May 31 Balance 0
Account: Insurance Expense
Account No. 543
May 31 Balance 0
Account: Office Supplies Expense
Account No. 544
May 31 Balance 0
41
General ledger
Account: Salary Expense
Account No. 545

May 31 Balance 0
Account: Depn Expense: Office Furniture
Account No. 560
May 31 Balance 0
Account: Depn Expense: Office Equipment
Account No. 561
May 31 Balance 0
General ledger
Account: Interest Expense
Account No. 571
May 31 Balance 0
Account: Admin. Expense - Bank Charges
Account No. 572

May 31 Balance 0
43
Bank reconciliation statement ~ June
Moondollars
As at June 30, 20XX
M
oo
nd
ol
la
rs
- W

or
ks
he
et
Fo
r
th
e
m
on
th
e
nd
ed
Ju
ne
3
0,
2
0X
X
U
na
dj

us
te
d
Tr
ia
l
B
al
an
ce
A
dj
us
tm
en
ts
A
dj
us
te
d
Tr
ia
l

B
al
an
ce
In
co
m
e
S
ta
te
m
en
t
B
al
an
ce
S
he
et
A
cc
t.

N
o.
A
cc
ou
nt
N
am
e
D
eb
it
C
re
di
t
D
eb
it
C
re
di
t
D

eb
it
C
re
di
t
D
eb
it
C
re
di
t
D
eb
it
C
re
di
t
10
0
C
as

h
10
2
S
ho
rt
-t
er
m
In
ve
st
m
en
ts
11
0
A
R
C
-
A
cc
ou

nt
s
R
ec
ei
va
bl
e
C
on
tr
ol
11
2
In
te
re
st
R
ec
ei
va
bl
e

12
0
M
er
ch
an
di
se
In
ve
nt
or
y
13
0
O
ffi
ce
S
up
pl
ie
s
14

0
P
re
pa
id
R
en
t
14
1
P
re
pa
id
A
dv
er
tis
in
g
14
2
P
re

pa
id
In
su
ra
nc
e
15
0
O
ffi
ce
F
ur
ni
tu
re
15
1
A
cc
um
D
ep

n:
O
ffi
ce
F
ur
ni
tu
re
16
0
O
ffi
ce
E
qu
ip
m
en
t
16
1
A
cc

um
D
ep
n:
O
ffi
ce
E
qu
ip
m
en
t
21
0
A
P
C
-
A
cc
ou
nt
s

P
ay
ab
le
C
on
tr
ol
22
0
W
ag
es
P
ay
ab
le
22
1
E
le
ct
ric
ity

P
ay
ab
le
22
2
W
at
er
P
ay
ab
le
22
5
In
te
re
st
P
ay
ab
le
25

0
B
an
k
Lo
an
P
ay
ab
le
30
0
C
om
m
on
S
to
ck
30
1
R
et
ai

ne
d
E
ar
ni
ng
s
48
P
E
R
D
IS
C
O
A
C
C
O
U
N
T
IN
G

P
R
A
C
T
IC
E
S
E
T
(
P
C
U
3e
)
U
na
dj
us
te
d

Tr
ia
l
B
al
an
ce
A
dj
us
tm
en
ts
A
dj
us
te
d
Tr
ia
l
B
al
an

ce
In
co
m
e
S
ta
te
m
en
t
B
al
an
ce
S
he
et
A
cc
t.
N
o.
A

cc
ou
nt
N
am
e
D
eb
it
C
re
di
t
D
eb
it
C
re
di
t
D
eb
it
C

re
di
t
D
eb
it
C
re
di
t
D
eb
it
C
re
di
t
40
0
S
al
es
R
ev

en
ue
40
1
S
al
es
R
et
ur
ns
a
nd
A
llo
w
an
ce
s
40
2
S
al
es

D
is
co
un
ts
40
3
In
te
re
st
R
ev
en
ue
50
0
P
ur
ch
as
es
50
1

P
ur
ch
as
e
R
et
ur
ns
a
nd
A
llo
w
an
ce
s
50
2
P
ur
ch
as
e

D
is
co
un
ts
51
1
A
dv
er
tis
in
g
E
xp
en
se
51
6
W
ag
es
E
xp

en
se
54
0
R
en
t E
xp
en
se
54
1
E
le
ct
ric
ity
E
xp
en
se
54
2
W

at
er
E
xp
en
se
54
3
In
su
ra
nc
e
E
xp
en
se
54
4
O
ffi
ce
S
up

pl
ie
s
E
xp
en
se
54
5
S
al
ar
y
E
xp
en
se
56
0
D
ep
n
E
xp

en
se
: O
ffi
ce
F
ur
ni
tu
re
56
1
D
ep
n
E
xp
en
se
: O
ffi
ce
E
qu

ip
m
en
t
57
1
In
te
re
st
E
xp
en
se
57
2
A
dm
in
. E
xp
en
se
-

B
an
k
C
ha
rg
es
To
ta
ls
N
et
in
co
m
e
or
lo
ss
To
ta
ls
C
O

F
F
E
E
&
C
A
F
É
S
U
P
P
LI
E
R
-
U
S
G
A
A
P
E

D
IT
IO
N
3
(
P
C
U
3e
)
49
Schedule of accounts receivable
Moondollars
June 30, 20XX
Account
No. Name
Debit
($)
Credit
($)
Total

Schedule of accounts payable
Moondollars
June 30, 20XX
Account
No. Name
Debit
($)
Credit
($) Terms
Total
Moondollars
Income Statement
For the month ended June 30, 20XX
INCOME
Revenue
Net sales revenue
COST OF GOODS SOLD
GROSS PROFIT
OPERATING EXPENSES
Selling expenses

Total selling expenses
General and administrative expenses
Total general and administrative expenses
TOTAL OPERATING EXPENSES
INCOME/(LOSS) FROM OPERATIONS
Other revenue
Other expenses
NET INCOME/(LOSS)
51
Moondollars
Statement of Stockholders' Equity
For the month ended June 30, 20XX
COMMON STOCK
Opening balance May 31, 20XX
Issue of common stock
Closing balance June 30, 20XX
RETAINED EARNINGS
Opening balance May 31, 20XX
Net income/(loss)

Dividend paid
Closing balance June 30, 20XX
Moondollars
Balance Sheet
June 30, 20XX
ASSETS
Current Assets
Total Current Assets
Property, Plant and Equipment
Total Property, Plant and Equipment
TOTAL ASSETS
LIABILITIES
Current Liabilities
Total Current Liabilities
Long-term Liabilities
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY
TOTAL EQUITY
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
53

Moondollars Post-closing Trial Balance
June 30, 20XX
Credit
($)
Total
PublisherProduction teamPublisher's thanksCopyright
noticeAbout the authorsContentsStudy time
guidelinesOverviewBackground informationAccounting
policiesAccounting proceduresInstructions1. Transactions2. End
of month posting3. Bank reconciliation4. Unadjusted trial
balance5. Worksheet6. Adjusting entries7. Schedules of
accounts8. Financial statements9. Closing entries10. Post-
closing trial balance11. Reversing entriesFurther
informationChart of accountsSchedule of accounts receivable ~

MaySchedule of accounts payable ~ MayPost-closing trial
balance ~ MayBank reconciliation statement ~ MayBank
statement ~ JuneTransactions for JuneGeneral journalGeneral
journalGeneral journalGeneral journalGeneral journalSales
journalPurchases journalCash receipts journalCash payments
journalBlank page for your notesAccounts receivable subsidiary
ledgerAccounts receivable subsidiary ledgerAccounts payable
subsidiary ledgerAccounts payable subsidiary ledgerGeneral
ledgerGeneral ledgerGeneral ledgerGeneral ledgerGeneral
ledgerGeneral ledgerBlank page for your notesBank
reconciliation statement ~ JuneBlank page for your
notesSchedule of accounts receivableSchedule of accounts
payableBlank page for your notesBlank page for your
notesBlank page for your notes

General Journal Points Other Journals Points General Ledger Po.docx

Recommended

Recommended

More Related Content

Similar to General Journal Points Other Journals Points General Ledger Po.docx

Similar to General Journal Points Other Journals Points General Ledger Po.docx (20)

More from budbarber38650

More from budbarber38650 (20)

Recently uploaded

Recently uploaded (20)

General Journal Points Other Journals Points General Ledger Po.docx