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Name (Last, First):

Instructor:
Sales Revenue Purchases Cost of Goods Sold
4,!"" 4,"#" !$,!%"
4,!"" &%!" !$,!%"
%&#"
'4#"
!$#%"
" " "
Rent ()*ense Interest ()*ense +ad ,e-ts ()*ense
$,."" &! $,4!!
$!"" ' &#"
&""" $!. $%%!
" " "
,e*reciation ()*ense /a0es ()*ense 1ther ()*enses
$,"." $!,!"" !,$#"
!." &"" !,$#"
4,!"" $!#""
#""
'"'"
" " "
Gain2Loss on Sale of (3ui*ment Income 4a) ()*ense Income Summar5
&!" .&% 4,!""
.&% 4%,%$%
$,4.&
0
,ividends
6 &,'""
6 &,'""
6 7
0
Pa0e ! of .
Name (Last, First): Gottschalk, Sarah
Instructor: Paul Mason
Harriet's Hats
General Journal
For the Year Ended December 3, !0Y"
#ransaction $o% &ccount #itle Debit 'redit
a &ccounts (ecie)able *+,!00
Sales (e)enue *+,!00
b 'ash *!,000
&ccounts (ecie)able *!,000
c ,ad Debt E-.ense 3/0
&ccounts (ecie)able 3/0
d ,ad Debt E-.ense ,*!!
&llo0ance 1or Doubt1ul &ccounts ,*!!
!a2 Purchases *,0/0
&ccounts Pa3able *,0/0
!a2! Purchases 3,"!0
&ccounts Pa3able 3,"!0
!a23 Purchases ",3/0
&ccounts Pa3able ",3/0
!a2* Purchases 4,*/0
&ccounts Pa3able 4,*/0
!b '5GS !,!"0
6n)entor3 !,!"0
!b 6n)entor3 !,/"0
Purchases !,/"0
!c &ccounts Pa3able !,/00
'ash !,/00
3b2!/4 De.reciation E-.ense ,070
&ccumulated De.reciation ,070
3b27"4 De.reciation E-.ense !70
&ccumulated De.reciation !70
3b2*!++ De.reciation E-.ense *,!00
&ccumulated De.reciation *,!00
3c Pro.ert3, Plant and E8ui.ment 3,000
'ash 3,000
Pa0e & of .
Name (Last, First): Gottschalk, Sarah
Instructor: Paul Mason
Harriet's Hats
General Journal
For the Year Ended December 3, !0Y"
#ransaction $o% &ccount #itle Debit 'redit
3c De.reciation E-.ense /00
&ccumulated De.reciation /00
3d &ccumulated De.reciation ,*00
'ash 4!0
E8ui.ment ,"00
Gain on Sale o1 E8ui.ment 3!0
*a2 $otes Pa3able !,*00
'ash !,*00
*a2! 6nterest E-.ense 3!
6nterest Pa3able 4*
'ash +4
*a23 6nterest E-.ense +4
'ash +4
*b 'ash *,000
$otes Pa3able *,000
*b2! 6nterest E-.ense 4"
6nterest Pa3able 4"
/a2 Pre.aid (ent ,700
'ash ,700
/a2! Pre.aid (ent ,700
'ash ,700
/a23 (ent E-.ense ,700
Pre.aid (ent ,700
/a2/ (ent E-.ense ,!00
Pre.aid (ent ,!00
/b2 9a:es and Salaries E-.ense !,!00
'ash !,!00
/b2! 9a:es and Salaries E-.ense 300
9a:es Pa3able 300
/b23 9a:es Pa3able "0
Pa0e 4 of .
Name (Last, First): Gottschalk, Sarah
Instructor: Paul Mason
Harriet's Hats
General Journal
For the Year Ended December 3, !0Y"
#ransaction $o% &ccount #itle Debit 'redit
9a:es E-.ense "0
/c 5ther E-.enses !,/0
'ash !,/0
4a 6ncome #a- Pa3able +00
'ash +00
4b 6ncome #a- E-.ense 73"
6ncome #a- Pa3able 73"
"a Di)idends 3,400
'ash 3,400
"b 'ash 0,000
'ommon Stock 0,000
';52 Sales (e)enue *+,!00
6ncome Summar3 *+,!00
';52! 6ncome Summar3 *",""
'5GS !,!"0
(ent E-.ense 3,000
6nterest E-.ense !7
,ad Debts E-.ense ,""!
De.reciation E-.ense 4,040
9a:es E-.ense !,/00
6ncome #a- E-.ense 73"
5ther E-.enses !,/0
';523 6ncome Summar3 ,*73
(etained Earnin:s ,*73
';52* Di)idends 3,400
(etained Earnin:s 3,400
Pa0e # of .
Name (Last, First): Gottschalk, Sarah
Instructor: Paul Mason
Harriet's Hats
General Journal
For the Year Ended December 3, !0Y"
#ransaction $o% &ccount #itle Debit 'redit
Pa0e ' of .
Name (Last, First): Gottschalk, Sarah
Instructor: Paul Mason
Harriet's Hats
General Journal
For the Year Ended December 3, !0Y"
#ransaction $o% &ccount #itle Debit 'redit
Name (Last, First):
Instructor:
Cash 8ccounts Receiva-le 8llo9ance for ,ou-tful 8ccounts
6 $#,""" 6 #,""" 6 #""
4!,""" 4,!""
!$,#"" 4!,""" 6 $,4!!
&,""" &#"
'!"
!,4"" 6 $$,.#" 6 $,!!
'
' Pre*aid Rent Inventor5
6 4,""" 6 #"" 6 #"" 6 4,"""
$,."" $,."" $,.""
$,."" 6 $,."" 6 !$,#%"
$!,!"" !$,!%"
!,$#" 6 $,!""
6 "" 6 '"" 6 4,&""
6 &,'""
6 $",""" Pro*ert5, Plant, and (3ui*ment 8ccumulated ,e*reciation
6 &#,%"" 6 $$,.""
&,""" $,%"" $,"."
!."
4,!""
6 %$,'!" 6 4,#4! 6 $,4"" #""
6 !!,"%. 6 &%,""" 6 $',4'"
8ccounts Pa5a-le /a0es Pa5a-le Interest Pa5a-le
6 4,"#" 6 $%" 6 '4
&,%!" &"" '%
6 %,&#"
6 !$,#"" 6 ',4#"
6 %" 6 4%" 6 $&$
Income 4a)es Pa5a-le Notes Pa5a-le Common Stoc:
6 "" 6 !,4"" 6 !","""
"" !,4"" $","""
6 .&% 6 4,"""
6 .&% 6 4,""" 6 &","""
Retained (arnin0s
6 !$,.''
&,'""
6 $,4.&
< !4,+*+
Name (Last, First):
Instructor:
Harriet's Hats Harriet's Hats
6ncome Statement ,alance Sheet
For the Year Ended December 3, !0Y" &s o1 December 3, !0Y"
Sales < *+,!00 &SSE#S
Less: Cost of Goods Sold !,!"0 Cash < !!,0"7
Gross Profit < !",+30 8ccounts Receiva-le ,7/0
Less: 8llo9ance for ,ou-tful 8ccounts ,+!!
Rent ()*ense 3,000 Net 8ccounts Receiva-le +,+!7
Interest ()*ense !7 Pre*aid Rent ,00
+ad ,e-ts ()*ense ,+!! Inventor5 *,300
,e*reciation ()*ense 4,040 4otal Current 8ssets 3",*04
/a0es ()*ense !,!00
1ther 1*eratin0 ()*enses !,/0 Pro*ert5, Plant, and (3ui*ment 3",000
4otal 1*eratin0 ()*enses !/,*40 Less: 8ccumulated ,e*reciation 4,*40
Net Pro*ert5, Plant, and (3ui*ment !0,/*0
Gain on Sale of (3ui*ment 3!0 #otal &ssets < /",+*4
Income +efore Income 4a)es !,"+0
Income 4a)es 73"
;6&,6;6#6ES = 59$E('S E>?6#Y
$et 6ncome < ,+/3 8ccounts Pa5a-le "0
/a0es Pa5a-le *"0
Interest Pa5a-le 3
Harriet's Hats Income 4a)es Pa5a-le 73"
Statement o1 (etained Earnin:s Notes Pa5a-le *,000
For the Year Ended December 3, !0Y" #otal ;iabilities /,/07
+e0innin0 Retained (arnin0s < !,744
Plus: Net Income ,+!0 Common Stoc: 30,000
Less: ,ividends 3,400 Retained (arnin0s !4,+*+
Endin: (etained Earnin:s < !0,74 #otal ;iabilities and 50ner@s E8uit3 < /4,+*+