Book of Accounts Practice Set

PARTIAL CHART OF ACCOUNTS
ASSETS REVENUE
Account No. Account Title Account No. Account Title
101 Cash 401 Service Revenue
102 Accounts Receivable
103 Service Supplies
104 Service Equipment EXPENSES
105 Furniture and Fixtures Account No. Account Title
501 Taxes and Licences
LIABILITIES 502 Rent Expense
201 Accounts Payable 503 Salaries Expense
202 Loans Payable
OWNER'S CAPITAL
301 John Lee, Capital
302 John Lee, Drawing
Invoice Accounts Rec. Sales
Date Particulars PR
No. Dr. Cr.
Jan 13 10,500.00 10,500.00
13 8,000.00 8,000.00
14 10,000.00 10,000.00
21 17,000.00 17,000.00
23 19,500.00 19,500.00
26 3,500.00 3,500.00
28 17,500.00 17,500.00
31 15,000.00 15,000.00
101,000.00 101,000.00
Invoice Purchases Accounts Pay.
Date Particulars PR
No. Dr. Cr.
Jan 8 25,000.00 25,000.00
9 25,000.00 25,000.00
9 40,000.00 40,000.00
12 10,000.00 10,000.00
14 60,000.00 60,000.00
15 20,000.00 20,000.00
17 20,000.00 20,000.00
17 50,000.00 50,000.00
25 20,000.00 20,000.00
29 30,000.00 30,000.00
30 40,000.00 40,000.00
340,000.00 340,000.00
Store Supplies
Cr.
Invoice Cash Sales Discount
Date Particulars PR
No. Dr. Dr.
Jan 2 500,000.00
12 7,000.00
15 30,000.00
17 20,000.00
21 23,000.00
22 25,000.00
23 7,840.00 160.00
24 15,000.00
28 44,000.00
30 10,000.00
681,840.00 160.00
Sales Accounts Rec. Sundry Acct.
Cr. Cr. Cr.
500,000.00
7,000.00
30,000.00
20,000.00
23,000.00
25,000.00
8,000.00
15,000.00
44,000.00
10,000.00
164,000.00 18,000.00 500,000.00
Check Cash Purchases Discount
Date No. Particulars PR
Cr. Cr.
Jan 3 20,000.00
4 7,000.00
4 40,000.00
5 24,000.00
6 1,000.00
7 50,000.00
9 5,000.00
14 20,000.00
15 7,500.00
16 500.00
17 1,000.00
17 200,000.00
18 39,200.00 800.00
19 19,600.00 400.00
20 5,000.00
22 2,500.00
24 800.00
26 49,000.00 1,000.00
30 7,500.00
31 23,000.00
31 4,800.00 200.00
527,400.00 2,400.00
Accounts Payable Sundry Acct.
Dr.
Dr. Prepaid Rent Store Supplies Furn/Fixtures Prepaid Ins. office Supplies Purchases
20,000.00
7000
40000
24000
1000
50000
5,000.00
20000
40,000.00
20,000.00
5,000.00
2500
50,000.00
23,000.00
5,000.00
148,000.00 20,000.00 7,000.00 40,000.00 24,000.00 3,500.00 70,000.00
undry Acct.
Dr.
Salary Exp. Freight Out Gas and Oil Delivery Sales R/A
7500
500
1000
200000
800
7500
15,000.00 500.00 1,000.00 200,000.00 800.00

GENERAL JOURNAL BOOK
Date ACCOUNT TITLES AND EXPLANATION PR Debit
Jan 10 Accounts Payable - Alberto's 2,000.00
Purchase Returns and Allowances
15 Sales return and Allowances 1,100.00

Accounts receivable - Dona Narcisa
27 Notes Receivable 25,000.00

Sales
March 31 Service Supplies Expense 504 3,800.00
Service Supplies 103
To record used service supplies
31 Utilities Expense 505 1,580.50

Utilities Payable 203
To record utilities expense for the month
31 Depreciation Expense 506 450.00

Accumulated Depreciation - Service Equipment 104A
To record the depreciation of service equipment

Accumulated Depreciation - Furniture and Fixtures 105A
To record the depreciation of Furniture and Fixtures
Credit
2,000.00
1,100.00
25,000.00
Credit
Credit
3,800.00
1,580.50
450.00
555.56
jan 31 Utilities Expense 2,500.00
Utilitites Payable
31 Depreciation Expense FF 400.00

Depreciation Expense DT 2,000.00
Accumulated Depreciation FF
Accumulated Depreciation DT
31 Rent Expense 5,000.00

Prepaid Rent
31 Insurance Expense 2,000.00

Prepaid Insurance
31 Store Supplies Expense 5,000.00

Office Supplies Expense 1,500.00
Store Supplies
Office Supplies
31 Doubtful Account Expense 2,900.00

Allowance for Doubtful Accounts
March 31 Service Supplies Expense 504 3,800.00
Service Supplies 103
To record used service supplies
31 Utilities Expense 505 1,580.50

Utilities Payable 203
To record utilities expense for the month

Accumulated Depreciation - Service Equipment 104A
To record the depreciation of service equipment

Accumulated Depreciation - Furniture and Fixtures 105A
To record the depreciation of Furniture and Fixtures
Credit
2,500.00
400.00
2,000.00
5,000.00
2,000.00
5,000.00
1,500.00
2,900.00
Credit
Credit
3,800.00
1,580.50
450.00
555.56
GENERAL LEDGER BOOK
Account Title: Cash Account No:
Date
Explanation P.R. Debit
March 1 Initial investment 681,840.00

5
6
7
9
14
17
20
25
29 0
30
31 681,840.00
154,440.00
Account Title: Accounts Receivable Account No.
Date
101,000.00
10 journal
101,000.00
81,900.00
Account Title: Notes Receivable Account No.
Date
Jan 10 journal 25,000.00

25,000.00
25,000.00
25,000.00
Account Title: Merchandise Inventory Account No.
Date
Account Title: Office Supplies Account No.
Date
3,500.00
adj
3,500.00
2,000.00
Account Title: Store Supplies Account No.
Date
7,000.00
adj
7,000.00
2,000.00
Account Title: Prepaid Insurance Account No.
Date
24,000.00
adj
24,000.00
22,000.00
Account Title: Prepaid Rent Account No.
Date
20,000.00
adj
-
20,000.00
15,000.00
Account Title: Furniture and Fixture Account No.
Date
40,000.00
40,000.00
40,000.00
Account Title: Delivery Truck Account No.
Date
200,000.00
200,000.00
200,000.00
Account Title: Accounts Payable Account No.
Date
148,000.00
2,000.00
150,000.00
Account Title: Notes Payable Account No.
Date
-
Account Title: Utilities Payable Account No.
Date
Account Title: Loans Payable Account No.
Date
Account Title: Interest Payable Account No.
Date
-
Account Title: A. Ventura, Capital Account No.
Date
Account Title: A. Ventura, Drawing Account No.
Date
-
-
Account Title: Sales Account No.
Date
Jan 27 journal
-
Account Title: Interest Income Account No.
Date
Account Title: Purchases Account No.
Date
70,000.00
340,000.00
410,000.00
410,000.00
Account Title: Repairs and Maintenance Account No.
Date
-
-
Account Title: Interest Expense Account No.
Date
-
-
Account Title: Doubtful Account Expense Account No.
Date
2,900.00
2,900.00
2,900.00
Account Title: Salary Expense Account No.
Date
15,000.00
15,000.00
15,000.00
Account Title: Freight Out Account No.
Date
500.00
500.00
500.00
Account Title: Freight In Account No.
Date
-
-
Account Title: Gas and Oil Expense Account No.
Date
1,000.00
1,000.00
1,000.00
Account Title: Utilities Expense Account No.
Date
Jan 31 adj 2,500.00
2,500.00
2,500.00
Account Title: Depreciation Expense Account No.
Date
400.00
2,000.00
2,400.00
2,400.00
Account Title: Rent Expense Account No.
Date
5,000.00
5,000.00
5,000.00
Account Title: Insurance Expense Account No.

Date
2,000.00
2,000.00
2,000.00
Account Title: Office Supplies Expense Account No.
Date
1,500.00
1,500.00
1,500.00
Account Title: Store Supplies Expense Account No.
Date
5,000.00
5,000.00
5,000.00
Account Title: Miscellaneous Expense Account No.
Date
-
-
101
Credit
527,400.00
527,400.00
102
Credit
18,000.00
1,100.00
19,100.00
103
Credit
-
104
Credit
105
Credit
1,500.00
1,500.00
Credit
5,000.00
5,000.00
Credit
2,000.00
2,000.00
Credit
5,000.00
5,000.00
Credit
-
Credit
-
-
Credit
340,000.00
340,000.00
190,000.00
Credit
-
-
-
Credit
2,500.00
2,500.00
2,500.00
Credit
-
-
Credit
-
-
Credit
500,000.00
500,000.00
500,000.00
Credit
Credit
101,000.00
25,000.00
164,000.00
290,000.00
290,000.00
Credit
-
-
Credit
Credit
-
Credit
Credit
Credit
-
Credit
Credit
Credit
-
Credit
Credit
Credit
-
Credit
Credit
Credit
Credit
Credit
-
Account Title: Accumulated Dep - Delivery Tr Account No. 104A
Date
Explanation P.R. Debit Credit
2,000.00
- 2,000.00
2,000.00
Account Title: Accumulated Dep - F.F Account No.
Date
400.00
- 400.00
400.00
Account Title: Allowance dor Doubtful AccounAccount No.

Date
2,900.00
- 2,900.00
2,900.00
Account Title: Sales Return and Allowances Account No.
Date
Jan 15 1,100.00
800.00
1,900.00 -
1,900.00
Account Title: Sales Discounts Account No.
Date
160.00
160.00 -
160.00
Account Title: Purchase Returns and Allowan Account No.

Date
Jan 10 journal book 2,000.00
- 2,000.00
2,000.00
Account Title: Purchase Discounts Account No.
Date
2,400.00
- 2,400.00
2,400.00
1 2
Account No. Account Names
101 Cash
102 Accounts Receivable
103 Notes Receivable
104 Merchandise Inventory
105 Office Supplies
201 Store Supplies
202 Prepaid Insurance
Prepaid Rent
301 Furniture and Fixture
302 Delivery Truck
401 Accounts Payable
501 Notes Payable
502 Utilities Payable
503 Loans Payable
Interest Payable
A. Ventura, Capital
A. Ventura, Drawing
Sales
Interest Income
Purchases
Repairs and Maintenance
Interest Expense
Doubtful Account Expense
Salary Expense
Freight Out
Freight In
Gas and Oil Expense
Utilities Expense
Depreciation Expense
Rent Expense
Insurance Expense
Office Supplies Expense
Store Supplies Expense
Miscellaneous Expense
Accumulated Dep - Delivery Truck
Accumulated Dep - F.F
Allowance dor Doubtful Account
Sales Return and Allowances
Sales Discounts
Purchase Returns and Allowances
Purchase Discounts
Total
Name of Company
Work Sheet
For the Period ended ………………………………
3 4 5 6
Trial Balance Adjustments
Dr Cr Dr Cr
154,440.00
81,900.00
25,000.00 -
-
2,000.00
2,000.00
22,000.00
15,000.00
40,000.00
200,000.00
190,000.00
-
2,500.00
-
- -
500,000.00 -
- -
290,000.00
-
410,000
0
0
2,900
15,000
500
0
1,000
2,500
2,400
5,000
2,000
1,500
5,000
0
2,000
400
2,900
1,900
160
2,000
2,400
992,200 992,200 - -
0
Name of Company
Work Sheet
nded ………………………………….
7 8 9 10
Adj. Trial Balance Income Statement
Dr Cr Dr Cr
270,000.00
290,000.00
410,000.00
-
-
2,900.00
15,000.00
500.00
-
1,000.00
2,500.00
2,400.00
5,000.00
2,000.00
1,500.00
5,000.00
-
1,900.00
160.00
2,000.00
2,400.00
- - 449,860.00 564,400.00
114,540.00
564,400.00 564,400.00
11 12 13 14
Balance Sheet Statement of O.E.
Dr Cr
154,440.00
81,900.00
25,000.00
270,000.00
2,000.00
2,000.00
22,000.00
15,000.00
40,000.00
200,000.00
190,000.00
-
2,500.00
-
-
500,000.00
2,000.00
400.00
2,900.00
812,340.00 697,800.00 - -
114,540.00 -
812,340.00 812,340.00
186,950.00
31,550.00
19,444.44
18,500.00
20,000.00
1,580.50
- 10,000.00
- 2,136.06
237,944.44

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PARTIAL CHART OF ACCOUNTS

15,000.00 500.00 1,000.00 200,000.00 800.00

15 Sales return and Allowances 1,100.00

27 Notes Receivable 25,000.00

31 Utilities Expense 505 1,580.50

31 Depreciation Expense 506 450.00

31 Depreciation Expense 506 555.56

31 Depreciation Expense FF 400.00

31 Rent Expense 5,000.00

31 Insurance Expense 2,000.00

31 Store Supplies Expense 5,000.00

31 Doubtful Account Expense 2,900.00

31 Utilities Expense 505 1,580.50

31 Depreciation Expense 506 450.00

31 Depreciation Expense 506 555.56

March 1 Initial investment 681,840.00

Account Title: Accounts Receivable Account No.

Account Title: Notes Receivable Account No.

Jan 10 journal 25,000.00

Account Title: Merchandise Inventory Account No.

Account Title: Office Supplies Account No.

Account Title: Store Supplies Account No.

Account Title: Prepaid Insurance Account No.

Account Title: Prepaid Rent Account No.

Account Title: Furniture and Fixture Account No.

Account Title: Delivery Truck Account No.

Account Title: Accounts Payable Account No.

Account Title: Notes Payable Account No.

Account Title: Utilities Payable Account No.

Account Title: Loans Payable Account No.

Account Title: Interest Payable Account No.

Account Title: A. Ventura, Capital Account No.

Account Title: A. Ventura, Drawing Account No.

Account Title: Sales Account No.

Account Title: Interest Income Account No.

Account Title: Purchases Account No.

Account Title: Repairs and Maintenance Account No.

Account Title: Interest Expense Account No.

Account Title: Doubtful Account Expense Account No.

Account Title: Salary Expense Account No.

Account Title: Freight In Account No.

Account Title: Gas and Oil Expense Account No.

Jan 31 adj 2,500.00

Account Title: Depreciation Expense Account No.

Account Title: Rent Expense Account No.

Account Title: Insurance Expense Account No.

Account Title: Office Supplies Expense Account No.

Account Title: Store Supplies Expense Account No.

Account Title: Miscellaneous Expense Account No.

Account Title: Accumulated Dep - F.F Account No.

Account Title: Allowance dor Doubtful AccounAccount No.

Account Title: Sales Return and Allowances Account No.

Account Title: Sales Discounts Account No.

Account Title: Purchase Returns and Allowan Account No.

Jan 10 journal book 2,000.00

Account Title: Purchase Discounts Account No.

Account No. Account Names

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