Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 1
SOLUTIONS TO CAMPUS CYCLE SHOP
A BUSINESS PAPERS PRACTICE SET
FOR USE WITH
ACCOUNTING
PRINCIPLES
7th Edition
J
J. W
ERRY
EYGANDT Ph.D., C.P.A.
Arthur Anderson Alumni Professor of Accounting
University of Wisconsin - Madison
Madison, Wisconsin
DONALD E. KIESO Ph.D., C.P.A.
KPMG Peat Marwick Emeritus Professor of Accountancy
Northern Illinois University
DeKalb, Illinois
P
D. K
AUL
IMMEL Ph.D., C.P.A.
Associate Professor of Accounting
University of Wisconsin - Milwaukee
Milwaukee, Wisconsin
JOHN WILEY & SONS, INC.
New York • Chichester • Weinheim • Brisbane • Singapore • Toronto
Campus Cycle Solution 2004.qrk
COVER PHOTO
3/16/04
11:39 AM
Page 2
© James Bareham/Stone
To order books or for customer service call 1-800-CALL-WILEY (225-5945)
Copyright © 2004 by john Wiley & Sons, inc.
Excerpts from this work may be reproduced by
instructors for distribution on a not-for-profit basis for
testing or instructional purposes only to students
enrolled in courses for which the text book has been
adopted. Any other reproduction or translation of this
work beyond that permitted by sections 107 or 108 of
the 1976 United States Copyright Act with out the
Permission of the copyright owner is unlawful.
Requests for permission or further information should
be addressed to the Permissions Department, John
Wiley & Sons, Inc., 605 Third Avenue, New York, NY
10158-0012
ISBN 0-471-39154-9
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
Printed and bound by Odyssey Press, Inc
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 3
TABLE OF CONTENTS
Sales Journal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Purchases Journal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Cash Receipts Journal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Cash Payments Journal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
General Journal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
General Ledgers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Accounts Receivable Subsidiary Ledger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Accounts Payable Subsidiary Ledger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Continuous Checkbook Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Original Deposit Tickets for September . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Bank Reconciliation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Work Sheet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Accounts Receivable Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Accounts Payable Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Income Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Owner’s Equity Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Post-Closing Trial Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 4
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 1
SALES JOURNAL
S5
20xx
Date
Account Debited
Inv.
No.
Ref.
Accts. Rec. Dr.
Sales Cr.
Cost of Goods
Sold Dr.
Merchandise
Inventory Cr.
1 Sept
1
Billy’s Bike and Skate Rental
524
✔
2 5 0 0
1 7 5 0
1
2
8
State University Cycling Club
525
✔
2 3 0 0
1 6 1 0
2
3
15
Normal Park District
526
✔
2 4 0 0
1 6 8 0
3
4
18
Twin Cities Bicycle Tours
527
✔
1 8 0 0
1 2 6 0
4
5
18
Evergreen Parks and Recreation
528
✔
4 3 0 0
3 0 1 0
5
6
24
Twin Cities Bicycle Tours
529
✔
2 8 0 0
1 9 6 0
6
7
24
Normal Park District
530
✔
5 2 5 0
3 6 7 5
7
8
25
Evergreen Parks and Recreation
531
✔
1 2 0 0
8 4 0
8
9
28
State University Cycling Club
532
✔
2 1 8 0
1 5 2 6
9
10
28
Billy’s Bike and Skate Rental
533
✔
1 7 0 0
1 1 9 0
10
2 6 4 3 0
1 8 5 0 1
11
11
(112)(401)
12
(505)(120)
12
13
13
14
14
15
15
PURCHASES JOURNAL
P8
20xx
Date
1 Sept
Account Credited
4
Terry Cycling Apparel
Merchandise
Inventory Dr.
Accounts
Payable Cr.
Invoice #
Terms
Ref.
230
2/10, n/30
✔
4 5 0
1
993
n/30
✔
2 2 6 0
2
1108
1/15, n/30
✔
3 2 0 0
3
17 Tuffy Bicycle Company
1417
2/10, n/30
✔
3 8 0 0
4
18 Bicycle Transit Authority
837
2/10, n/30
✔
3 5 0 0
5
1023
n/30
✔
6 5 6 0
6
898
2/10, n/30
✔
8 2 5
7
2
8
Gita Bicycle & Frames
3
9
Tandems USA
4
5
6
22 Gita Bicycle & Frames
7
23 Bicycle Transit Authority
8
24 Tandems USA
1132
1/15, n/30
✔
9 5 0
8
9
24 Tuffy Bicycle Company
1511
2/10, n/30
✔
1 4 0 0
9
10
28 Avanti Racers, Inc.
910
2/10, n/30
✔
2 0 0 0
10
11
28 Terry Cycling Apparel
309
2/10, n/30
✔
7 4 0
11
2 5 6 8 5
12
12
13
(120) / (201) 13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
Copyright © 2004 by John Wiley & Sons, Inc.
1
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 2
CASH RECEIPTS JOURNAL
CR4
Date
20xx
Ref.
Cash
Dr.
1 Sept
1
Repair Service Revenue
420
9 5 4 0
1
2
2
Billy’s Bike and Skate Rental
✔
2 3 0 3
2
3
3
Evergreen Parks and Recreation
✔
2 7 4 4
3
4
3
Twin Cities Bicycle Tours
✔
3 9 2 0
4
5
8
Repair Service Revenue
420
1 7 8 0
5
6
8
Evergreen Parks and Recreation
✔
3 3 3 2
6
7
9
Billy’s Bike and Skate Rental
✔
2 1 5 6
7
8
10
State University Cycling Club
✔
3 5 7 7
8
9
10
Twin Cities Bicycle Tours
✔
4 1 1 6
9
10
15
Repair Service Revenue
420
7 7 8 0
10
11
16
State University Cycling Club
✔
2 2 5 4
11
12
17
Normal Park District
✔
8 0 0
12
13
21
Bicycle Rental Revenue
805
3 0 0
13
14
22
Repair Service Revenue
420
3 6 2 5
14
15
24
Normal Park District
✔
2 3 5 2
15
16
28
Twin City Bicycle Tours
✔
1 5 6 8
16
✔
4 2 1 4
17
420
4 6 4 2
18
17
28
Evergreen Parks and Recreation
18
30
Repair Service Revenue
19
6 1 0 0 3
19
20
(101)
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
41
41
42
42
43
43
Copyright © 2004 by John Wiley & Sons, Inc.
2
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 3
CASH RECEIPTS JOURNAL
CR4
Sales
Discounts
Debit
Accounts
Receivable
Credit
1
Sales
Credit
Other
Accounts
Credit
Cost of Goods
Sold Dr.
Merchandise
Inventory Cr.
8 5 4 0
1 0 0 0
5 9 7 8
1
2
4 7
2 3 5 0
2
3
5 6
2 8 0 0
3
4
8 0
4 0 0 0
5
4
1 1 5 0
6 3 0
8 0 5
5
6
6 8
3 4 0 0
6
7
4 4
2 2 0 0
7
8
7 3
3 6 5 0
8
9
8 4
4 2 0 0
9
4 6
2 3 0 0
10
11
5 8 8 0
12
1 9 0 0
4 1 1 6
8 0 0
12
13
3 0 0
14
10
11
3 2 0 0
4 2 5
13
2 2 4 0
14
15
4 8
2 4 0 0
15
16
3 2
1 6 0 0
16
17
8 6
4 3 0 0
17
4 3 7 0
2 7 2
3 0 5 9
18
19
6 6 4
34 0 0 0
2 3 1 4 0
4 5 2 7
1 6 1 9 8
19
20
(414)
(112)
(401)
18
(X)
(505/120)
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
41
41
42
42
43
43
44
44
45
45
Copyright © 2004 by John Wiley & Sons, Inc.
3
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 4
CASH PAYMENTS JOURNAL
CP9
20xx
Date
Check
No.
Payee
Account Debited
1 Sept
1
315
Gita Bicycle & Frame
Gita Bicycle & Frame
1
2
2
316
Tuffy Bicycle Company
Tuffy Bicycle Company
2
3
2
317
Avanti Racers, Inc
Avanti Racers, Inc
3
4
3
318
Terry Cycling Apparel
Terry Cycling Apparel
4
5
3
319
Greg Jordan
Salaries Payable
5
6
4
320
Greg Jordan
Greg Jordan, Drawing
6
7
4
321
Bicycle Transit Authority
Bicycle Transit Authority
7
8
4
322
Tandems USA
Tandems USA
8
9
9
323
Avanti Racers, Inc
Avanti Racers, Inc
9
10
10
324
Greg Jordan
11
11
325
Peterson Supply Co.
Store Supplies
10
12
14
326
Terry Cycling Apparel
Terry Cycling Apparel
12
13
14
327
The Community News
Advertising Expense
13
14
17
328
Greg Jordan
15
18
329
RTS Express
16
18
330
Greg Jordan
Greg Jordan, Drawing
16
17
21
331
Woodson Van City
Repairs & Maintenance - Delivery Van
17
18
22
332
Tandems USA
Tandems USA
18
19
23
333
Tuffy Bicycle Company
Tuffy Bicycle Company
19
20
24
334
Pace Office Supply
Office Supplies
20
21
24
335
Greg Jordan
22
28
336
Gita Bicycle & Frame
Gita Bicycle & Frame
22
23
28
337
Bicycle Transit Authority
Bicycle Transit Authority
23
24
29
338
RTS Express
Merchandise Inventory
24
25
29
339
Midwest Electric Co.
Utilities Expense
25
26
29
340
Wallace Realty
Rent Expense
26
27
30
341
Reliable Telephone Co.
Utilities Expense
27
11
14
Merchandise Inventory
15
21
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
41
41
42
42
43
43
44
44
45
45
Copyright © 2004 by John Wiley & Sons, Inc.
4
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 5
CASH PAYMENTS JOURNAL
CP9
Ref.
Other
Accounts Dr.
Office Salaries
Expense Dr.
Store salaries
Expense Dr.
Accounts
Payable Dr.
Merchandise
Inventory Cr.
1
✔
6 2 0 0
2
✔
3 0 0 0
3
✔
2 0 0 0
8 0 0
1 6
6 2 0 0
1
6 0
2 9 4 0
2
4 0
1 9 6 0
3
4
✔
5
212
5 0 0
6
306
1 5 0 0
7
✔
2 8 0 0
5 6
8
✔
1 2 0 0
9
✔
1 6 0 0
10
11
3 0 0
3 0 0
127
Cash
Cr.
7 8 4
4
1 4 0 0
5
1 5 0 0
6
2 7 4 4
7
1 2
1 1 8 8
8
3 2
1 5 6 8
9
1 2 0 0
10
2 4 8
11
4 4 1
12
1 2 5
13
6 0 0
9 0 0
2 4 8
12
✔
13
610
1 2 5
1 1 0 0
14
15
120
1 1 0
1 1 0
15
16
306
3 0 0 0
3 0 0 0
16
17
623
4 3 0
4 3 0
17
18
✔
3 2 0 0
3 2
3 1 6 8
18
19
✔
3 8 0 0
7 6
3 7 2 4
19
20
125
4 5 0
14
3 0 0
9
8 0 0
1 6 5
21
3 0 0
1 0 0 0
1 6 5
20
1 3 0 0
21
1 0 0 0
22
3 4 3 0
23
22
✔
1 0 0 0
23
✔
3 5 0 0
24
120
3 0 0
3 0 0
24
25
732
1 3 5
1 3 5
25
26
729
2 0 0 0
2 0 0 0
26
27
732
1 0 0
1 0 0
27
28
29
8 6 1 3
(X)
7 0
1 2 0 0
3 3 0 0
29 5 5 0
4 0 3
4 2 2 6 0
28
(727)
(626)
(201)
(120)
(101)
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
41
41
42
42
43
43
44
44
45
45
Copyright © 2004 by John Wiley & Sons, Inc.
5
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 6
GENERAL JOURNAL
J5
Date
20xx
1 Sept
4
2
Account Titles and Explanation
Ref.
Sales Returns and Allowances
Debit
412
Accounts Receivable/Billy’s Bike and Skate Rental
112
Credit
3 0 0
✔
1
3 0 0
2
3
(To record credit to Customer for defective bike-
3
4
--Credit Memo No.12)
4
5
6
5
15
7
201
Accounts Payable/Gita bicycles & Frames
Merchandise Inventory
✔
2 5 0
120
6
2 5 0
7
8
(To record return of men’s racer-
8
9
--Credit Memo No. 102)
9
10
11
10
24
12
Sales Return and Allowance
412
Accounts Receivable/Twin Cities Bicycle Tours
112
13
Merchandise Inventory
120
14
Cost of Goods Sold
505
2 0 0
✔
11
2 0 0
1 4 0
12
13
1 4 0
14
15
(To record return of helmets by customer-
15
16
--Credit Memo No. 13)
16
17
18
19
17
30
Bank Service Charge
746
Cash
101
1 0
18
1 0
19
20
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
6
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 7
GENERAL JOURNAL
J6
Date
20xx
1 Sept
Account Titles and Explanation
Ref.
Debit
Credit
30 -ADJUSTING ENTRIES-
1
2
2
3
(a) Office Supplies Express
728
4
Office Supplies
125
5
8 1 5
3
8 1 5
(To record office supplies)
5
6
6
7
(b) Store Supplies Expense
659
8
Store Supplies
127
9
5 9 3
7
5 9 3
(To record store supplies used in September)
8
9
10
11
4
10
(c) Insurance Expense
12
722
Prepaid Insurance
13
1 5 0
130
11
1 5 0
(To record insurance expense for September)
12
13
14
14
15
(d) Office Salaries Expense
727
1 8 0
15
16
Store Salaries Expense
626
4 5 0
16
17
Salaries Payable
18
212
6 3 0
(To accrue salaries earned in September)
18
19
20
19
(e) Depreciation Expense -- Store Equipment
21
615
Accumulated Depreciation -- Store Equipment
22
4 0 0
156
20
4 0 0
(To record September depreciation Expense)
21
22
23
24
17
23
(f)
Depreciation Expense -- Delivery Van
25
Accumulated Depreciation -- Delivery Van
26
(To record September depreciation expense)
616
3 0 0
166
24
3 0 0
25
26
27
27
28
28
29
30
31
(g) Interest Expense
905
Interest Payable
1 1 5
230
29
1 1 5
(To Accrue Interest on Notes Payable at 6% for one month)
31
32
33
34
35
30
32
(h) Cost of Goods Sold
505
Merchandise Inventory
120
(To adjust to merchandise inventory on hand)
2 0 3
33
2 0 3
34
35
36
36
37
37
38
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
7
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 8
GENERAL JOURNAL
J7
Date
20xx
1 Sept
2
Account Titles and Explanation
Ref.
Debit
Credit
--- CLOSING ENTRIES --30
1
Sales
401
49 5 7 0
2
3
Repair Services Revenue
420
4 2 2 7
3
4
Bicycle Rental Revenue
805
3 0 0
4
5
Income Summary
350
5 4 0 9 7
6
7
5
6
30
Income Summary
350
46 2 2 9
7
8
Sales Returns and Allowances
412
5 0 0
8
9
Sales Discounts
414
6 6 4
9
10
Cost of Goods Sold
505
3 4 7 6 2
10
11
Advertising Expense
610
1 2 5
11
12
Depreciation Expense---Store Equipment
615
4 0 0
12
13
Depreciation Expense---Delivery Van
616
3 0 0
13
14
Repairs and Maintenance
623
4 3 0
14
15
Store Salaries Expense
626
3 7 5 0
15
16
Store Supplies Expense
659
5 9 3
16
17
Insurance Expense
722
1 5 0
17
18
Office Salaries Expense
727
1 3 8 0
18
19
Office Supplies Expense
728
8 1 5
19
20
Rent Expense
729
2 0 0 0
20
21
Utilities Expense
732
2 3 5
21
22
Bank Service Charge
746
1 0
22
23
Interest Expense
905
1 1 5
24
25
23
24
30
26
Income Summary
350
Greg Jordan, Capital
7 8 6 8
301
25
7 8 6 8
26
27
(To close Income Summary account and
27
28
Transfer profit to owner’s capital)
28
29
30
29
30
Greg Jordan, Capital
31
Greg Jordan, Drawing
32
(To close drawing account to owner’s capital)
301
306
4 5 0 0
30
4 5 0 0
31
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
8
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 9
GENERAL LEDGER
Cash
ACCOUNT NO.
20xx
Date
Sept
1
30
30
30
Item
Ref.
✔
CR4
CP9
J5
Balance
Debit
20xx
Date
Sept
1
4
29
29
31
6 1 0 0 3
4 2 2 6 0
1 0
Ref.
✔
J5
J5
S5
CR4
Balance
Debit
1
15
18
24
29
30
30
30
30
30
3 0 0
2 0 0
26 4 3 0
3 4 0 0 0
Ref.
✔
J5
CP9
J5
CP9
P8
S5
CP9
CR4
J6
Balance
Debit
1
24
30
2 5 0
1
1
3
25 6
1
4
0
8
0
0
0
5
18 5
4
16 1
2
Item
Ref.
✔
CP9
J6
Debit
1
11
30
0
0
9
0
1
3
8
3
Credit
1 6 5
8 1 5
Store Supplies
Sept
3
3
3
9
5
7
4
2
6
6
0
0
0
3
3
0
0
0
0
0
120
Balance
Debit
3
3
3
3
3
5
4
4
2
2
2
2
2
2
3
8
0
0
3
3
9
7
8
9
2
9
4
0
8
6
9
4
5
9
9
7
7
7
7
7
0
0
0
0
0
5
4
1
3
0
ACCOUNT NO.
Balance
20xx
Date
2
2
2
4
1
Credit
Office Supplies
Sept
112
ACCOUNT NO.
Item
20xx
Date
0
3
3
3
Balance
Debit
Credit
Merchandise Inventory
Sept
8 3 0
6 9 3 0
2 7 0 4
2 7 0 3
ACCOUNT NO.
Item
20xx
Date
Balance
Debit
Credit
Accounts Receivable
101
9 5 0
1 1 1 5
3 0 0
ACCOUNT NO.
Item
Ref.
✔
CP9
J6
Balance
Copyright © 2004 by John Wiley & Sons, Inc.
9
Debit
Credit
2 4 8
5 9 3
125
Balance
Debit
Balance
Debit
9 7 0
1 2 1 8
6 2 5
127
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 10
GENERAL LEDGER
Prepaid Insurance
20xx
Date
Sept
ACCOUNT NO.
Item
1
Ref.
Debit
30
3 6 0 0
J6
1 5 0
Store Equipment
20xx
Date
Sept
Ref.
Debit
38 4 0 0
Accumulated Depreciation -- Store Equipment
Sept
ACCOUNT NO.
Item
1
Ref.
Debit
22 4 0 0
J6
4 0 0
Delivery Van
Sept
Ref.
Debit
21 6 0 0
Accumulated Depreciation -- Delivery Van
Sept
ACCOUNT NO.
Item
1
Ref.
Debit
30
1 3 2 0 0
J6
3 0 0
Accounts Payable
Sept
1
15
30
30
166
Balance
Credit
Credit
✔
Balance
20xx
Date
165
Balance
Debit
Credit
✔
Balance
20xx
Date
22 8 0 0
ACCOUNT NO.
Item
1
156
Balance
Credit
Credit
✔
Balance
30
20xx
Date
155
Balance
Debit
Credit
✔
Balance
20xx
Date
3 4 5 0
ACCOUNT NO.
Item
1
Credit
✔
Balance
130
Balance
Debit
1 3 5 0 0
ACCOUNT NO.
Item
Ref.
✔
J5
P8
CP9
Balance
Copyright © 2004 by John Wiley & Sons, Inc.
10
Debit
Credit
2 5 0
25 6 8 5
29 5 5 0
201
Balance
Credit
1
1
4
1
7
7
3
3
6
3
0
4
0
5
3
8
0
0
5
5
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 11
GENERAL LEDGER
Salaries Payable
20xx
Date
Sept
ACCOUNT NO.
Item
1
3
30
Ref.
✔
CP9
J6
Balance
Debit
20xx
Date
Sept
6 3 0
Ref.
Debit
4 0 0
J6
1 1 5
Notes Payable
Sept
1
Ref.
Debit
1
30
30
Item
Ref.
✔
J7
J7
Debit
Sept
4 5 0 0
Item
Ref.
Debit
CP9
CP9
J7
1 5 0 0
3 0 0 0
Income Summary
5 3 4 1 0
6 1 2 7 8
5 6 7 7 8
Credit
Balance
Debit
4 5 0 0
1 5 0 0
4 5 0 0
0
ACCOUNT NO.
Item
Ref.
Sept 30
30
30
Copyright © 2004 by John Wiley & Sons, Inc.
J7
J7
J7
11
Debit
Credit
5 4 0 9 7
4 6 2 2 9
7 8 6 8
301
Balance
Credit
ACCOUNT NO.
4
18
30
20xx
Date
Credit
7 8 6 8
Greg Jordan, Drawing
20xx
Date
Balance
Credit
ACCOUNT NO.
Balance
265
23 0 0 0
Greg Jordan, Capital
Sept
Credit
✔
Balance
20xx
Date
5 1 5
ACCOUNT NO.
Item
230
Balance
Credit
Credit
✔
Balance
30
20xx
Date
5 0 0
0
6 3 0
ACCOUNT NO.
Item
1
Balance
Credit
Credit
5 0 0
Interest Payable
212
Balance
Credit
5 4 0 9 7
7 8 6 8
0
306
350
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 12
GENERAL LEDGER
Sales
ACCOUNT NO.
20xx
Date
Item
Ref.
Sept 30
30
30
S5
CR4
J7
Debit
Credit
26 4 3 0
23 1 4 0
49 5 7 0
Sales Returns and Allowances
20xx
Date
Sept
Item
Ref.
J5
J5
J7
Debit
Credit
Item
Ref.
CR4
30
3 0 0
5 0 0
0
5 0 0
Debit
Credit
J7
414
Balance
Debit
6 6 4
6 6 4
6 6 4
Repair Service Revenue
0
ACCOUNT NO.
Item
Ref.
1
8
15
22
30
30
CR4
CR4
CR4
CR4
CR4
J7
Debit
0
3
0
2
7
420
Balance
Credit
Credit
1 0
6
1 9
4
2
0
0
0
5
2
1
1
3
3
4
0
6
5
9
2
0
3
3
5
2
4 2 2 7
Cost of Goods Sold
20xx
Date
412
Balance
Debit
ACCOUNT NO.
Sept 30
Sept
26 4 3 0
49 5 7 0
0
3 0 0
2 0 0
Sales Discounts
20xx
Date
Balance
Credit
ACCOUNT NO.
4
24
30
20xx
Date
401
0
0
0
5
7
0
ACCOUNT NO.
Item
Ref.
Sept 24
30
30
30
30
Copyright © 2004 by John Wiley & Sons, Inc.
J5
S5
CR4
J6
J7
12
Debit
Credit
1 4 0
1 8 5 0 1
1 6 1 9 8
2 0 3
3 4 7 6 2
505
Balance
Debit
(1 4
1 8 3 6
3 4 5 5
3 4 7 6
0 )
1
9
2
0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 13
GENERAL LEDGER
Advertising Expense
20xx
Date
ACCOUNT NO.
Item
Ref.
Sept 14
30
CP9
J7
Debit
20xx
Date
1 2 5
Item
Ref.
J6
J7
Debit
4 0 0
Item
Ref.
J6
J7
Debit
616
Balance
Debit
Credit
3 0 0
3 0 0
Repairs and Maintenance -- Delivery Van
3 0 0
0
ACCOUNT NO.
Item
Ref.
Sept 21
CP9
30
Debit
Credit
4 3 0
J7
623
Balance
Debit
4 3 0
4 3 0
Store Salaries Expense
0
ACCOUNT NO.
Item
Sept 30
30
30
Ref.
Debit
CP9
J6
J7
3 3 0 0
4 5 0
Store Supplies Expense
20xx
Date
4 0 0
0
ACCOUNT NO.
Sept 30
30
20xx
Date
615
Balance
Debit
Credit
4 0 0
Depreciation Expense -- Delivery Van
20xx
Date
1 2 5
0
ACCOUNT NO.
Sept 30
30
20xx
Date
Balance
Debit
Credit
1 2 5
Depreciation Expense -- Store Equipment
610
626
Credit
Balance
Debit
3 7 5 0
3 3 0 0
3 7 5 0
0
ACCOUNT NO.
Item
Ref.
Sept 30
J6
30
J7
Copyright © 2004 by John Wiley & Sons, Inc.
13
Debit
Credit
5 9 3
659
Balance
Debit
5 9 3
5 9 3
0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 14
GENERAL LEDGER
Insurance Expense
20xx
Date
ACCOUNT NO.
Item
Ref.
Sept 30
J6
30
J7
Debit
Credit
1 5 0
1 5 0
Item
Ref.
Debit
CP9
J6
J7
1 2 0 0
1 8 0
Balance
Debit
1 3 8 0
1 2 0 0
1 3 8 0
0
ACCOUNT NO.
Item
Ref.
30
J6
30
J7
Debit
Credit
8 1 5
8 1 5
Item
30
Ref.
Debit
CP9
2 0 0 0
J7
Credit
2 0 0 0
0
ACCOUNT NO.
Item
Ref.
Sept 29
30
30
CP9
CP9
J7
Debit
Credit
1 3 5
1 0 0
2 3 5
Bank Service Charge
Sept
729
Balance
Debit
2 0 0 0
Utilities Expense
20xx
Date
0
ACCOUNT NO.
Sept 29
20xx
Date
728
Balance
Debit
8 1 5
Rent Expense
20xx
Date
727
Credit
Office Supplies Expense
Sept
0
ACCOUNT NO.
Sept 30
30
30
20xx
Date
Balance
Debit
1 5 0
Office Salaries Expense
20xx
Date
722
732
Balance
Debit
1 3 5
2 3 5
0
ACCOUNT NO.
Item
Ref.
30
J5
30
J7
Copyright © 2004 by John Wiley & Sons, Inc.
14
Debit
Credit
1 0
746
Balance
Debit
1 0
1 0
0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 15
GENERAL LEDGER
Bicycle Rental Revenue
20xx
Date
ACCOUNT NO.
Item
Ref.
Sept 21
Debit
CR4
30
J7
3 0 0
Balance
Credit
3 0 0
3 0 0
interest Expense
20xx
Date
Credit
805
0
ACCOUNT NO.
Item
Ref.
Sept 30
J6
30
J7
Copyright © 2004 by John Wiley & Sons, Inc.
15
Debit
Credit
1 1 5
905
Balance
Debit
1 1 5
1 1 5
0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 16
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
NAME
Billy’s Bike and Skate Rental
ADDRESS
1326 Custer Street, Normal, IL 60010
20xx
Date
Aug 25
Sept 1
2
4
9
28
Item
Invoice 519
Invoice 524
Cr. Memo 12
Invoice 533
NAME
Evergreen Parks and Recreation
ADDRESS
R. R. Box 11, Scenic, IL 61530
20xx
Date
Aug 26
31
Sept 3
8
18
25
28
Item
Invoice 520
Invoice 523
Invoice 528
Invoice 531
NAME
Normal Park District
ADDRESS
1925 School Street, Normal, IL 60128
20xx
Date
Aug 24
Sept 15
17
24
24
Item
Invoice 518
Invoice 526
Invoice 530
Copyright © 2004 by John Wiley & Sons, Inc.
16
Ref.
Debit
S4
S5
CR4
J5
CR4
S5
2 3 5 0
2 5 0 0
Credit
2 3 5 0
3 0 0
2 2 0 0
1 7 0 0
Ref.
Debit
S4
S4
CR4
CR4
S5
S5
CR4
2 8 0 0
3 4 0 0
Credit
S4
S5
CR4
S5
CR4
8 0 0
2 4 0 0
3
8
5
2
5
5
0
0
0
0
0
0
0
1 7 0 0
Balance
4 3 0 0
Credit
Balance
4 3 0 0
1 2 0 0
Debit
2
4
2
2
2 8 0 0
6 2 0 0
3 4 0 0
0
4 3 0 0
5 5 0 0
1 2 0 0
2 8 0 0
3 4 0 0
Ref.
Balance
8 0 0
5 2 5 0
2 4 0 0
3
2
7
5
8
2
4
6
2
0
0
0
5
5
0
0
0
0
0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 17
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
NAME
State University Cycling Club
ADDRESS
Horton Student Center, Normal, IL 60024
20xx
Date
Aug 31
Sept 8
10
16
28
Item
Invoice 521
Invoice 525
Invoice 532
Ref.
Debit
S4
S5
CR4
CR4
S5
3 6 5 0
2 3 0 0
NAME
Twin Cities Bicycle Tours
ADDRESS
112 Towanda Ave., Bloomington, IL 61209
20xx
Date
Aug 24
31
Sept 3
10
18
24
24
28
Item
Invoice 517
Invoice 522
invoice 527
Invoice 529
Credit Memo 13
NAME
Wheels Unlimited
ADDRESS
200 Tenth St. Bloomington, IL 61210
20xx
Date
Aug 18
Item
invoice 516
Copyright © 2004 by John Wiley & Sons, Inc.
17
Credit
3 6 5 0
2 3 0 0
2 1 8 0
Ref.
Debit
S4
S4
CR4
CR4
S5
S5
J5
CR4
4 0 0 0
4 2 0 0
Credit
Debit
2 5 0 0
Balance
2 0 0
1 6 0 0
Credit
Balance
1 8 0 0
2 8 0 0
S4
3 6 5 0
5 9 5 0
2 3 0 0
0
2 1 8 0
4 0 0 0
8 2 0 0
4 2 0 0
0
1 8 0 0
4 6 0 0
4 4 0 0
2 8 0 0
4 0 0 0
4 2 0 0
Ref.
Balance
2 5 0 0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 18
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME
Avanti Racers, Inc.
ADDRESS
323 West Seventh St., San Pedro, CA 90731
20xx
Date
Aug 24
31
Sept 2
9
28
Item
Ref.
Invoice 815
Invoice 898
P7
P7
CP9
CP9
P8
Invoice 910
NAME
Bicycle Transit Authority
ADDRESS
418 S. Varney St., Seattle, WA 98124
20xx
Date
Aug 31
Sept 4
18
23
28
Item
Ref.
Invoice 741
Invoice 837
Invoice 898
NAME
Gita Bicycles & Frames
ADDRESS
500 Third Ave., Claremont, CA 91711
20xx
Date
Aug
Sept
5
1
8
15
22
28
Item
Invoice 811
invoice 1023
Ref.
Debit
Tandems USA
ADDRESS
331 Somerville Ave., Somerville, MA 02143
20xx
Date
Aug 25
Sept 4
9
24
22
Item
Ref.
Invoice 1021
P7
CP9
P8
P8
CP9
Invoice 1108
Invoice 1132
Copyright © 2004 by John Wiley & Sons, Inc.
18
Debit
3 5 0 0
NAME
Credit
Balance
2 0 0 0
1 6 0 0
2 0 0 0
2 0 0 0
3 6 0 0
1 6 0 0
0
2 0 0 0
Credit
Balance
2 8 0 0
2 8 0 0
0
3 5 0 0
4 3 2 5
8 2 5
2 0 0 0
1 6 0 0
P7
CP9
P8
P8
CP9
P7
CP9
P8
J5
P8
CP9
Invoice 993
Debit
2 8 0 0
3 5 0 0
8 2 5
Credit
Balance
6 2 0 0
6 2 0 0
0
2 2 6 0
2 0 1 0
8 5 7 0
7 5 7 0
6 2 0 0
2 2 6 0
2 5 0
6 5 6 0
1 0 0 0
Debit
Credit
Balance
1 2 0 0
1 2 0 0
0
3 2 0 0
4 1 5 0
9 5 0
1 2 0 0
3 2 0 0
9 5 0
3 2 0 0
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 19
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME
Terry Cycling Apparel
ADDRESS
1264 E. Walnut St., Gardena, CA 90248
20xx
Date
Aug 27
Sept 3
4
14
28
Item
Ref.
Invoice 214
P7
CP9
P8
CP9
P8
Invoice 230
Invoice 309
NAME
Tuffy Bicycle Company
ADDRESS
102 LaGrange St., Greenville, IN 84329
20xx
Date
Aug
Sept
5
2
17
24
23
Item
Ref.
Invoice 1312
P7
CP9
P8
P8
CP9
Invoice 1417
Invoice 1511
Copyright © 2004 by John Wiley & Sons, Inc.
19
Debit
Credit
8 0 0
8 0 0
4 5 0
4 5 0
7 4 0
Debit
8 0 0
0
4 5 0
0
7 4 0
Credit
Balance
3 0 0 0
3 0 0 0
0
3 8 0 0
5 2 0 0
1 4 0 0
3 0 0 0
3 8 0 0
1 4 0 0
3 8 0 0
Balance
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 20
Continuous Checkbook Balance for September
Ck No. Date
Sept.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
Bank
Rec
1
2
2
3
3
4
4
4
8
9
10
11
14
14
15
17
18
18
21
22
22
23
24
24
25
28
28
29
29
29
30
30
30
Checks
Deposits
6200
2940
1960
784
1400
1500
2744
1188
9540
1568
1200
248
441
125
8967
1780
1 3181
7780
1100
110
3000
430
3054
3625
3168
3724
165
1300
2652
1000
3430
300
135
2000
100
4642
5782
10
Copyright © 2004 by John Wiley & Sons, Inc.
Original Deposit Tickets for September
Balance
83 00
1 16 40
87 00
67 40
59 56
45 56
30 56
312
80 91
98 71
83 03
71 03
2 00 36
1 95 95
1 94 70
2 72 50
2 61 50
2 60 40
2 60 94
2 56 64
2 92 89
2 61 21
2 23 97
2 22 32
2 09 32
2 35 84
2 25 84
1 91 54
1 88 54
1 87 19
1 67 19
2 12 61
2 70 43
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
2 70 33
20
Date
Sept.
Checks
Balance
4
2 - 3 / 710
70 - 107 / 711
70 / 7025 / 2711
2303
2744
3920
8967
11
70 - 107 / 711
2 - 3 / 710
70 - 7025 / 2711
70 - 7025 / 2711
3332
2156
3577
4116
1 3181
18
70 - 7025 / 2711
2 - 3 / 710
2254
800
3054
25
2 - 3 / 710
2 - 3 / 710
300
2352
2652
30
70 - 7025 / 2711
70 - 107 / 711
1568
4214
5782
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 21
CAMPUS CYCLE SHOP
Bank Reconciliation
September 30, 20xx
1
Balance per bank statement
2 6 1 0 7
2
3
2
Add:
Deposits in transit, 9/30
3
4
4 6 4 2
5
5 7 8 2
4
1 0 4 2 4
6
7
1
5
6
Subtract: Outstanding Checks
7
8
7 5 0
8
9
2 9 4 0
9
10
1 5 6 8
10
11
1 1 0
11
12
1 6 5
12
13
3 4 3 0
13
14
3 0 0
14
15
1 3 5
15
16
1 0 0
17
9 4 9 8
16
2 7 0 3 3
17
18
18
19
Book Balance
20
Subtract: Bank Service Charge
2 7 0 4 3
21
19
1 0
20
2 7 0 3 3
21
22
22
23
23
24
24
Copyright © 2004 by John Wiley & Sons, Inc.
21
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 22
CAMPUS CYCLE SHOP
Worksheet
For the Month Ended September 30, 20xx
Acct.
Trial Balance
No.
Account Title.
Debit
Credit
1
101
Cash
2 70 33
1
2
112
Accounts Receivable
1 56 30
2
3
120
Merchandise Inventory
2 38 73
3
4
125
Office Supplies
11 15
4
5
127
Store Supplies
12 18
5
6
130
Prepaid Insurance
36 00
6
7
155
Store Equipment
3 84 00
7
8
156
Accumulated Depreciation -- Store Equipment
9
165
Delivery Van
22400
2 16 00
8
9
10 166
Accumulated Depreciation -- Delivery Van
13200
10
11 201
Accounts Payable
13485
11
12 212
Salaries Payable
13 230
Interest Payable
14 265
12
400
13
Notes Payable
2 3 000
14
15 301
Greg Jordan, Capital
53410
15
16 306
Greg Jordan, Drawing
17 401
Sales
49570
17
18 412
Sales Returns and Allowances
5 00
18
19 414
Sales Discounts
6 64
19
20 420
Repair Service Revenue
21 505
Cost of Goods Sold
22 610
Advertising Expense
23 615
Depreciation Expense -- Store Equipment
24 616
Depreciation Expense -- Delivery Van
25 623
Repairs and Maintenance -- Delivery Van
26 626
Store Salaries Expense
27 659
Store Supplies Expense
28 722
Insurance Expense
29 727
Office Salaries Expense
30 728
Office Supplies Expense
31 729
Rent Expense
32 732
Utilities Expense
33 746
Bank Service Charge
34 805
Bicycle Rental Revenue
35 905
Interest Expense
45 00
4 227
20
3 45 59
21
1 25
22
23
24
4 30
25
33 00
26
27
28
12 00
29
30
20 00
31
2 35
32
10
33
300
34
35
36
37
16
17 99 92
Net Income
179992
36
37
38
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
22
Campus Cycle Solution 2004.qrk
3/16/04
Adjustments
Debit
11:39 AM
Page 23
Adjusted Trial Balance
Credit
Debit
Income Statement
Credit
Debit
Credit
Balance Sheet
Debit
Credit
1
2 7 0 33
27033
1
2
1 5 6 30
15630
2
3
h
203
2 3 6 70
23670
3
4
a
815
3 00
300
4
5
b
593
6 25
625
5
6
c
150
3 4 50
3450
6
3 8 400
38400
7
7
8
e
400
9
22 8 0 0
2 28 0 0
2 1 6 00
10
f
300
11
21600
8
9
13 5 0 0
1 35 0 0
10
13 4 8 5
1 34 8 5
11
12
d
630
630
630
12
13
g
115
515
515
13
14
23 0 0 0
2 30 0 0
14
15
53 4 1 0
5 34 1 0
15
16
4 5 00
17
4500
49 570
16
4 95 7 0
17
18
5 00
50 0
18
19
6 64
66 4
19
20
4227
21 h
203
22
23 e
400
24
300
f
25
42 2 7
20
3 4 7 62
3 4 76 2
21
1 25
12 5
22
4 00
40 0
23
3 00
30 0
24
4 30
43 0
25
26 d
450
3 7 50
3 75 0
26
27 b
593
5 93
59 3
27
28 c
150
1 50
15 0
28
29 d
180
1 3 80
1 38 0
29
30 a
815
8 15
81 5
30
31
2 0 00
2 00 0
31
32
2 35
23 5
32
33
10
10
33
34
35 g
36
300
115
3206
300
1 15
3206
1 8 1 4 37
34
11 5
1 81 4 3 7
4 6 22 9
37
7 86 8
38
5 4 09 7
35
5 40 9 7
5 40 9 7
135208
135208
1 2 73 4 0
36
78 6 8
37
1 352 0 8
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
23
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 24
CAMPUS CYCLE SHOP
Schedule of Accounts Receivable
September 30, 20xx
Billy’s Bike and Skate Rental
Evergreen Parks and Recreation
Normal Park District
State University Cycling Club
Twin Cities Bicycle Tours
Wheels Unlimited
1
1
5
2
2
2
Total Accounts Receivable
7
2
2
1
8
5
0
0
5
8
0
0
0
0
0
0
0
0
15630
CAMPUS CYCLE SHOP
Schedule of Accounts Payable
September 30, 20xx
Avanti Racers, Inc.
Bicycle Transit Authority
Gita Bicycle & Frames
Tandems USA
Terry Cycling Apparel
Tuffy Bicycle Company
20
8
75
9
7
14
Total Accounts Payable
Copyright © 2004 by John Wiley & Sons, Inc.
0
2
7
5
4
0
0
5
0
0
0
0
13485
24
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 25
CAMPUS CYCLE SHOP
Income Statement
For the Month Ended SEPTEMBER 30, 20xx
1
Revenues
2
Sales
3
Less: Sales returns and allowances
4
5
1
49 5 7 0
50 0
Sales discounts
66 4
Net sales
3
1 1 6 4
4
48 4 0 6
5
6
7
6
Repair Service Revenue
4 2 2 7
8
9
2
7
8
Total Revenues
52 6 3 3
9
10
Cost of Goods Sold
34 7 6 2
10
11
Gross Profit
17 8 7 1
11
12
Operating Expense
13
Selling Expenses
14
Store Salary Expense
15
12
13
37 5 0
14
Store Supplies Expense
5 9 3
15
16
Repair & Maintenance Expense - Delivery Van
4 3 0
16
17
Depreciation Expense - Store Equipment
4 0 0
17
18
Depreciation Expense - Delivery Van
3 0 0
18
19
Advertising Expense
1 2 5
19
20
21
5 59 8
20
Administrative Expenses
21
22
Rent Expense
20 0 0
22
23
Office Salaries Expense
13 8 0
23
24
Office Supplies Expense
8 1 5
24
25
Utilities Expense
2 3 5
25
26
Insurance Expense
1 5 0
26
27
Bank Service Charge
1 0
27
28
Total Administrative Expense
29
Total Operating Expense
4 59 0
28
10 1 8 8
30
31
Income from Operations
7 6 8 3
32
33
34
35
36
31
32
Other Revenues and Gains
33
Bicycle Rental
30 0
34
Other Expenses and Losses
35
Interest Expense
11 5
1 8 5
37
38
29
30
36
37
Net Income
7 8 6 8
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
25
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 26
Campus Cycle Shop
Owner’s Equity Statement
For the Month Ended September 30, 20xx
1
Greg Jordan Capital, September 1
2
Add:
Net Income for September
3
5 3 4 1 0
1
7 8 6 8
2
6 1 2 7 8
3
4
4
5
Less:
6
Greg Jordan Capital, September 30
Drawings
4 5 0 0
5
5 6 7 7 8
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
25
25
26
26
27
27
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
35
36
36
37
37
38
38
39
39
40
40
Copyright © 2004 by John Wiley & Sons, Inc.
26
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 27
Campus Cycle shop
Balance Sheet
September 30, 20xx
1
2
Assets
1
Current Assets
2
3
Cash
2 7 0 3 3
3
4
Accounts Receivable
1 5 6 3 0
4
2 3 6 7 0
5
3 0 0
6
5
Merchandise Inventory
6
Office Supplies
7
Store supplies
8
Prepaid Insurance
9
Total Current Assets
6 2 5
7
3 4 5 0
8
7 0 7 0 8
9
10
11
10
Property, Plant and Equipment
11
12
Store Equipment
3 8 4 0 0
13
Less: Accumulated Depreciation - Store Equipment
2 2 8 0 0
12
1 5 6 0 0
13
14
14
15
Delivery Van
2 1 6 0 0
16
Less: Accumulated Depreciation - Delivery Van
1 3 5 0 0
17
Total Property , Plant and Equipment
15
8 1 0 0
16
2 3 7 0 0
18
19
18
Total Assets
9 4 4 0 8
20
Liabilities and Owner’s Equity
21
22
22
Current Liabilities
24
Accounts Payable
25
26
27
23
1 3 4 8 5
24
Salaries Payable
6 3 0
25
Interest Payable
5 1 5
26
1 4 6 3 0
27
Total Current Liabilities
28
28
29
Long-Term Liabilities
30
Notes Payable
31
29
Total Liabilities
2 3 0 0 0
30
3 7 6 3 0
31
32
33
34
35
19
20
21
23
17
32
Owner’s Equity
33
Greg Jordan, Capital
5 6 7 7 8
Total Liabilities and Owner’s Equity
9 4 4 0 8
34
35
36
36
37
37
38
38
39
39
Copyright © 2004 by John Wiley & Sons, Inc.
27
Campus Cycle Solution 2004.qrk
3/16/04
11:39 AM
Page 28
CAMPUS CYCLE SHOP
Post-Closing Trial Balance
September 30, 20xx
Debit
101
Cash
2 7 0 3 3
112
Accounts Receivable
1 5 6 3 0
120
Merchandise Inventory
2 3 6 7 0
125
Office Supplies
3 0 0
127
Store Supplies
6 2 5
130
Prepaid Insurance
155
Store Equipment
Credit
3 4 5 0
3 8 4 0 0
156
Accum. Depre.-Store Equipment
165
Delivery Van
2 2 8 0 0
166
Accum. Depre.-Delivery Van
1 3 5 0 0
201
Accounts Payable
1 3 4 8 5
212
Salaries Payable
6 3 0
230
Interest Payable
5 1 5
265
Notes Payable
2 3 0 0 0
301
Greg Jordan, Capital
5 6 7 7 8
2 1 6 0 0
1 3 0 7 0 8
Copyright © 2004 by John Wiley & Sons, Inc.
28
1 3 0 7 0 8