Lucky Dog Project

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Lucky Dog TrainingSimulation Project

To submit your work, you may do one of the following:*

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All worksheets are available in Excel format or in a printable pdf format. You may print out the worksheets and complete them by hand or you may enter all entries in the Excel workbook.

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To submit your work, you may do one of the following:

Task

Part I

Prepare a trial balance on the work sheet.

Total Points - Part I

All worksheets are available in Excel format or in a printable pdf format. You may print out the worksheets and complete them by hand or you may enter all entries in the Excel workbook.

If you completed in Excel format, save the workbook with the filename Lucky_Dog_Your Name and attach in the assignment dropbox.

If you printed and completed the forms by hand, you may scan handwritten documents and attach the scanned document in the assignment dropbox.

You may deliver the printouts to your instructor's office. After delivering, enter a message in the assignment dropbox saying you have delivered.

Review the general company information and the Chart of Accounts.Review the Trial Balance from Sep 30th. These amounts have already been used to open the General Ledgers for you.

Journalize the transactions for Oct 1-31 in the General Journals. Use Journal pages 1, 2, 3 and 4. (You will not use the adjustment information yet.)

Post the journal entries to the General Ledger and to the Accounts Receivable and Accounts Payable subsidiary Ledgers. (The ledgers have already been opened for you.)

Prepare the Schedule of Accounts Receivable and the Schedule of Accounts Payable. Verify that the totals match the balances in the AR and AP General Ledgers.

Stop and check your work.

Go to Sakai and take the Part 1 - Trial Balance Quiz. This quiz will allow you to check the balances in the Trial Balance column of the worksheet.

Submit your General Journals pages 1-4, General Ledgers, and the worksheet to your instructor using the Part I assignment drop box in Sakai.

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Note: You can not complete the quiz without completing steps 1-5. If you do not submit your Excel file or pdf file showing your own work, then you will not receive credit for the Quiz.

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Part IIContinue project using forms completed in Part I.

Correct journal entries and postings to General Ledger from Part I if needed.

Journalize the adjusting entries using General Journal page 5.

Post the adjusting entries to the general ledger.

Prepare the financial statements.Income StatementStatement of Owners EquityBalance Sheet

Post the closing entries to the General Ledgers.

Prepare a post-closing trial balance.

Submit all forms to your instructor using the Part II assignment drop box in Sakai.

Total Points - Part II

Complete the remainder of the work sheet. Use the adjustment information given below the Oct 1-31 transaction descriptions.

Journalize the closing entries using General Journal page 5. (Add closing entries below the adjusting entries.)

(Hint: If you have done everything correctly, you should have zero balances in all ledgers from Drawing to the Depreciation Expense ledgers.)

Check your work.

Go to Sakai and take the Part II - Financial Statements & Post-closing Trial Balance Quiz. This quiz will allow you to check the balances in the worksheet, Gen Journal page 5, the financial statements, and post-closing trial balance.

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To submit your work, you may do one of the following:

Points

40

10

50

All worksheets are available in Excel format or in a printable pdf format. You may print out the worksheets and complete them by

If you completed in Excel format, save the workbook with the filename and attach in the assignment dropbox.

If you printed and completed the forms by hand, you may scan handwritten documents and attach the scanned

You may deliver the printouts to your instructor's office. After delivering, enter a message in the assignment dropbox

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258000742.xlsx Printed: 01/21/2015


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20

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Lucky Dog Training

Chart of AccountsSubsidiary Ledgers

Acct. No. Assets101 Cash Customers110 Petty Cash120 Accounts Receivable 10-111 Pet Smart, LLC130 Merchandise Inventory (training collars, toys, etc.) 10-487 Alamanda, Lori135 Training Supplies140 Office Supplies145 Prepaid Insurance181 Training Equipment Vendors181.1 Accum. Depr. - Training Equipment

A001 Agility Training ManufacturerLiabilities C046 Canine Collars, Inc.

200 Accounts Payable D023 Doggie's Delight211 Employee Income Tax Payable G049 Gordon's Office Depot212 Social Security Tax Payable213 Medicare Tax Payable214 FUTA Tax Payable215 SUTA Tax Payable220 Wages Payable230 Sales Tax Payable

Owner's Equity311 Holly Whistler, Capital312 Holly Whistler, Drawing313 Income Summary

Revenues401 Sales - Obedience Training410 Sales - Merchandise410.1 Sales Returns and Allowances410.2 Sales Discounts

Expenses501 Purchases501.1 Purchase Returns and Allowances501.2 Purchase Discounts510 Wages Expense520 Payroll Taxes Expense530 Advertising Expense535 Training Supplies Expense540 Office Supplies Expense545 Insurance Expense555 Rent Expense560 Repair Expense565 Telephone Expense570 Utilities Expense580 Depr. Exp. - Training Equipment

Holly Whistler is the owner of Lucky Dog Training which offers obedience training to groups and individuals. In addition, to obedience training, the company also sells a limited amount of pet supplies such as training collars and toys to be used to improve behavior. Training services are tax exempt but all products sold are charged 6% sales tax. Employees are taxed at the following rates. The SUTA tax rate is 5.4%, the FUTA tax rate is 0.8%, both on the first $7,000 of earnings. The Social Security Tax rate is 6.2% on the first $110,100 of earnings. The Medicare rate is 1.45% of gross earnings. The chart of accounts for Lucky Dog Training is provided below.

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Lucky Dog Training

Trial Balance

September 30, 2012

ACCOUNT TITLE ACCOUNT NO. DEBIT BALANCE

Cash 101 12,850.00

Merchandise Inventory 130 2,000.00

Training Supplies 135 100.00

Office Supplies 140 50.00

Employee Income Tax Payable 211

Social Security Tax Payable 212

Medicare Tax Payable 213

FUTA Payable 214

SUTA Payable 215

Sales Tax Payable 230

Holly Whistler, Capital 311

Totals 15,000.00

NOTE: Students do not need to do anything with this. These balances have already been entered in the General Ledgers as opening balances for Sept. 30th.

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Lucky Dog Training

Trial Balance

September 30, 2012

CREDIT BALANCE

2,010.00

1,240.00

290.00

160.00

1,060.00

240.00

10,000.00

15,000.00

NOTE: Students do not need to do anything with this. These balances have already been entered in the General Ledgers

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THE FOLLOWING TRANSACTIONS TOOK PLACE DURING THE MONTH OF OCTOBER 2012.

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DescriptionHolly Whistler invested additional cash in business, $55,000.

Paid insurance premium to Zurich Insurance for three-month generaly liability policy, $3600.

Paid rent to for the month of October $4,000.

Deposited obedience training fees, $15,000 plus merchandise sales, $500 plus $30 sales tax.

Established a petty cash fund for the office manager, $100.

Purchased merchandise on account from Canine Collars, $400 terms 2/10, n/30.

Bought office supplies on account from Gordon's Office Depot, $600.

Earned obedience training fees on account from Pet Smart, LLC, $3000, terms 2/10, n/30.


Returned defective merchandise received on 5th to Canine Collars, Inc. for credit on account, $100.

Bought training supplies on account from Doggie's Delight, $250.

A customer was unhappy with an obedience training class. A refund check was issued in the amount of $200.

Paid Canine Collars balance owed for Oct. 5 purchase less Oct. 10 return less 2% discount.

Purchased 10 agility training stations on account from Agility Training Manufacturer for $48,000. The equipment has an estimated useful life of four years, at which time it will be donated to a local dog park. Arrangements were made to pay for the equipment in six months.

Journalize the payroll entry using the following data taken from the payroll register for October 15th. Regular earnings $3500, Overtime earnings $500, Deductions: Federal income tax $550, Social Security tax $248, Medicare tax $58.

Journalize the employer's payroll taxes expense for the above payroll using the following information: Taxable Earnings for All Employees for Social Security Wages was $4,000. Taxable Earnings for All Employees for Unemployment Compensation was $500. (Note: Tax rates are given description paragraph above the Chart of Accounts.)

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Description

Received cash on account from Pet Smart, LLC for October 8th invoice less discount.

Paid telephone bill, $140.

Earned obedience training fees on account from a new customer, Lori Alamanda, $500.

Paid utilities bill to Progress Energy, $580.

Paid Florida Dept. of Revenue for September sales tax, $240.

Paid for advertising spots in a local magazine, $800.


Bought training supplies on account from Doggie's Delight, $300.

Issued refund check to customer who was unhappy with merchandise, $50 plus $3 sales tax.

Paid Don Brown to repair damaged training equipment, $900.

Received cash on account from Lori Alamanda, $250.

Holly Whistler withdrew cash for personal use, $2,000.

Paid FUTA tax for third quarter, $160.

Paid SUTA tax from third quarter, $1060.

Paid 941 taxes for the 3rd Quarter which include Employee Income Tax Payable $2010, Social Security Tax Payable $1240 and Medicare Tax Payable $290. (See opening balances given for September 30th.)

Petty Cash fund records showed the following totals at the end of the month: Repairs $62, Telephone $28. Petty cash fund was replenished.

Returned training supplies to Doggie's Delight and received a credit on account, $50. (Hint: Credit will be to Training Supplies account.)

The office manager returned office supplies to Gordon's Office Depot and received a credit on account, $100. (Hint: Credit will be to Office Supplies account.)

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Description


Paid Doggie's Delight on account, $500.

*** Wait and use the following information for Part II. ***

Adjustment information at the end of October is provided below:

Office supplies remaining on hand, $100.

Training supplies remaining on hand, $100.

Merchandise inventory remaining on hand, $1400.

Calculate insurance expired for month using transaction information on 1st with Zurich.

Calculate depreciation expense for one month for training equipment using information from transaction on 2nd.

Wages earned, but not yet paid, at the end of October, $1175.

Journalize the payroll entry using the following data taken from the payroll register for Oct 31st. Regular earnings $7500, Overtime earnings $500, Deductions: Federal income tax $1050, Social Security tax $496, Medicare tax $116.

Journalize the employer's payroll taxes expense for the above payroll using the following information: Taxable Earnings for All Employees for Social Security Wages was $8,000. Taxable Earnings for All Employees for Unemployment Compensation was $1,000. (Note: Tax rates are given description paragraph above the Chart of Accounts.)

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GENERAL JOURNAL PAGE 1

DATE DESCRIPTION POST. REF. DEBIT CREDIT

1 1 Cash 101 55,000.00 1

2 Holly Whisteler, Capital 311 55,000.00 2

3 Owner Invested in Business 3

4 4

5 1 Prepaid Insurance 145 3,600.00 5

6 Cash 101 3,600.00 6

7 Paid 3 month Insurance 7

8 8

9 2 Rent Expenses 555 4,000.00 9

10 Cash 101 4,000.00 10

11 Rent for October 11

12 12

13 2 Training Equipment 181 48,000.00 13

14 Accounts Payable/Agility Training 200/A001 48,000.00 14

15 Agility Training Equipment 15

16 16

17 3 Cash 101 15,530.00 17

18 Sales Obedience Training 401 15,000.00 18

19 Sales Merchandise 410 500.00 19

20 Sales Tax Payable 230 30.00 20

21 Deposit fees 21

22 22

23 4 Petty Cash 110 100.00 23

24 Cash 101 100.00 24

25 Establised Petty Cash 25

26 26

27 5 Purchase 501 400.00 27

28 Accounts Payable/Canine Collars 200/C046 400.00 28

29 Purchase made on account 29

30 30

31 6 Office Supplies 140 600.00 31

32 Accounts Payable/Gordon's Office Depot 200/G049 600.00 32

33 Purchase Office Supplies on Acc. 33

34 34

35 8 Account Receivable/Pet Smart 120/10-111 3,000.00 35

36 Sales-Obedience Training 401 3,000.00 36

37 Fees Earn 37

38 38

39 10 Cash 101 10,515.00 39


41 Sales Merchandise 410 250.00 41


43 Deposit Fees 43

2012Oct.

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1 10 Accounts Payable/Canine Collar 200/C046 100.00 1

2 Purchase Returns & Allowances 501.1 100.00 2

3 Return Merchandise 3

4 4

5 12 Training Supplies 135 250.00 5

6 Accounts Payable/Doggie's Delight 200/D023 250.00 6

7 Purchase on Account 7

8 8

9 13 Sales Return & Allowances 410.1 200.00 9

10 Cash 101 200.00 10

11 Allowance issued for unhappy customer 11

12 12

13 14 Accounts Payable/Canine Collars 200/C046 300.00 13

14 Cash 101 294.00 14

15 Purchase Discount 501.2 6.00 15

16 Payment received from Cannine Collars 16

17 17

18 15 Wages & Salaries Expenses 410 4,000.00 18

19 Employee Federal Income Tax Payable 211 550.00 19

20 Social Security Tax Payable 212 248.00 20

21 Medicare Tax Payable 213 58.00 21

22 Cash 101 3,144.00 22

23 Payroll for week ended October 15 23

24 24

25 15 Payroll Tax Expense 520 337.00 25



28 FUTA Tax Payable 214 4.00 28

29 SUTA Tax Payable 215 27.00 29

30 Payroll Taxes 30

31 31

32 15 Employee Income Tax Payable 211 2,010.00 32

33 Social Security Tax Payable 212 1,240.00 33


35 Cash 101 3,540.00 35

36 Deposit of Employee FICA, S.S. & Medicare 36

37 37

38 16 Cash 101 2,940.00 38

39 Sales Discount 410.2 60.00 39

40 Account Receivable/PetSmart LLC. 120/10-111 3,000.00 40

41 Payment received from PetSmart LLC 41

42 42

43 17 Telephone Expense 565 140.00 43

44 Cash 101 140.00 44

45 Telephone paid for the month of Oct. 45

2012Oct.

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1 18 Account Receivable/Lori Alamanda 120/10-487 500.00 1

2 Sales-Obedience Training 401 500.00 2

3 Earned Fees 3

4 4

5 18 Utility Expense 570 580.00 5

6 Cash 101 580.00 6

7 Progress Energy (electricity) 7

8 8

9 20 Sales Tax Payable 230 240.00 9

10 Cash 101 240.00 10

11 Florida Detpartment of Revenue 11

12 12

13 23 Advertising Expense 530 800.00 13

14 Cash 101 800.00 14

15 Advertising Magazine 15

16 16

17 24 Cash 101 16,577.00 17


19 Sales Mercahndise 410 450.00 19


21 Deposit Fees 21

22 22

23 24 Training Supplies 135 300.00 23

24 Accounts Payable/Doggie's Delight 200/D023 300.00 24

25 Purchase on Account 25

26 26

27 25 Sales Return & Allowances 410.1 50.00 27

28 Sales-Tax Payable 230 3.00 28

29 Cash 101 53.00 29

30 Credit to unsatisfied cm with merchandise 30

31 31

32 25 Repair Expenses 560 900.00 32

33 Cash 101 900.00 33

34 Payment to repair Training Equipment 34

35 35

36 26 Cash 101 250.00 36

37 Account Receivable/Lori Alamanda 120/10-487 250.00 37

38 Payment received on account 38

39 39

40 27 Repairs Expenses 560 62.00 40

41 Telephone Expenses 565 28.00 41

42 Cash 101 90.00 42

43 Replenish petty cash fund 43

44 44

45 45

2012Oct.

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1 27 Accounts Payable/Doggie's Delight 200/D023 50.00 1

2 Training Supplies 135 50.00 2

3 Credit memo 3

4 4

5 29 Holly Whistler, Drawing 312 2,000.00 5

6 Cash 101 2,000.00 6

7 Drawing for personal use. 7

8 8

9 29 Accounts Payable/Gordon's Office Depot 200/G049 100.00 9

10 Office Supplies 140 100.00 10

11 Credit memo 11

12 12

13 30 FUTA Tax Payable 214 160.00 13

14 Cash 101 160.00 14

15 Paid FUTA Tax 15

16 16

17 30 SUTA Tax Payable 215 1,060.00 17

18 Cash 101 1,060.00 18

19 Paid SUTA Tax 19

20 20

21 31 Wages & Salaries Expences 510 8000.00 21

22 Employee Federal Income Tax Payable 211 1,050.00 22



25 Cash 101 6,338.00 25

26 Payroll for week ended October 31 26

27 27

28 31 Payroll Tax Expense 520 674.00 28



31 FUTA Tax Payable 214 8.00 31

32 SUTA Tax Payable 215 54.00 32

33 Payroll Taxes 33

34 34

35 31 Cash 101 13,036.00 35

36 Sale Obedience Training 401 12,400.00 36

37 Sales Mercahndise 410 600.00 37

38 SalesTax Payable 230 36.00 38

39 Deposit Fees 39

40 40

41 31 Accounts Payable/Doggie's Delight 200/D023 500.00 41

42 Cash 101 500.00 42

43 Made payment on account 43

44 44

45 45

2012Oct.

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GENERAL LEDGER

ACCOUNT: Cash ACCOUNT NO.: 101

DATE ITEM DEBIT CREDIT

BALANCE

DEBIT CREDIT

1 P 12,850.00 12,850.00 1 J1 55,000.00 67,850.00

1 J1 3,600.00 64,250.00

2 J1 4,000.00 60,250.00

3 J1 15,530.00 75,780.00

4 J1 100.00 75,680.00

10 J1 10,515.00 86,195.00

13 J2 200.00 85,995.00

14 J2 294.00 85,701.00

15 J2 3,144.00 82,557.00

15 J2 3,540.00 79,017.00

16 J2 2,940.00 81,957.00

17 J2 140.00 81,817.00

18 J3 580.00 81,237.00

20 J3 240.00 80,997.00

23 J3 800.00 80,197.00

24 J3 16,577.00 96,774.00

25 J3 53.00 96,721.00

25 J3 900.00 95,821.00

26 J3 250.00 96,071.00

27 J3 90.00 95,981.00

29 J4 2,000.00 93,981.00

30 J4 160.00 93,821.00

30 J4 1,060.00 92,761.00

31 J4 6,338.00 86,423.00

31 J4 13,036.00 99,459.00

31 J4 500.00 98,959.00

ACCOUNT: Petty Cash ACCOUNT NO.: 110

DATE ITEM DEBIT CREDIT BALANCE

DEBIT CREDIT

4 J1 100.00 100.00

ACCOUNT: Accounts Receivable ACCOUNT NO.: 120


DEBIT CREDIT

8 J1 3,000.00 3,000.00 16 J2 3,000.00 - 18 J3 500.00 500.00 26 J3 250.00 250.00

ACCOUNT: Merchandise Inventory ACCOUNT NO.: 130


DEBIT CREDIT

1 Balance P 2,000.00 2,000.00 31 Adjusting J5 600.00 1,400.00

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GENERAL LEDGER

ACCOUNT: Training Supplies ACCOUNT NO.: 135


DEBIT CREDIT

1 Balance P 100.00 100.00 12 J2 250.00 350.00 24 J3 300.00 650.00 27 J4 50.00 600.00 31 Adjusting J5 500.00 100.00

ACCOUNT: Office Supplies ACCOUNT NO.: 140


DEBIT CREDIT

1 Balance P 50.00 50.00 6 J1 600.00 650.00

29 J4 100.00 550.00 31 Adjusting J5 450.00 100.00

ACCOUNT: Prepaid Insurance ACCOUNT NO.: 145


DEBIT CREDIT

1 J1 3,600.00 3,600.00 31 Adjusting J5 1,200.00 2,400.00

ACCOUNT: Training Equipment ACCOUNT NO.: 181


DEBIT CREDIT

2 J1 48,000.00 48,000.00

ACCOUNT: Accumulated Depreciation-Training Equipment ACCOUNT NO.: 181.1


DEBIT CREDIT

31 Adjusting J5 1,000.00 1,000.00

ACCOUNT: Accounts Payable ACCOUNT NO.: 200


DEBIT CREDIT

2 J1 48,000.00 48,000.00 5 J1 400.00 48,400.00 6 J1 600.00 49,000.00

10 J2 100.00 48,900.00 12 J2 250.00 49,150.00 14 J2 300.00 48,850.00 24 J3 300.00 49,150.00 27 J4 50.00 49,100.00 29 J4 100.00 49,000.00 31 J4 300.00 48,500.00

ACCOUNT: Employee Income Tax Payable ACCOUNT NO.: 211


DEBIT CREDIT

1 Balance P 2,010.00 2,010.00 15 J2 550.00 2,560.00 15 J2 2,010.00 550.00 31 J4 1,050.00 1,600.00

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GENERAL LEDGER

ACCOUNT: Social Security Tax Payable ACCOUNT NO.: 212


DEBIT CREDIT

1 Balance P 1,240.00 1,240.00 15 J2 248.00 1,488.00 15 J2 248.00 1,736.00 15 J2 1,240.00 496.00 31 J4 496.00 992.00 31 J4 496.00 1,488.00

ACCOUNT: Medicare Tax Payable ACCOUNT NO.: 213


DEBIT CREDIT

1 Balance P 290.00 290.00 15 J2 58.00 349.00 15 J2 58.00 406.00 15 J2 290.00 116.00 31 J4 116.00 232.00 31 J4 116.00 348.00

ACCOUNT: FUTA Tax Payable ACCOUNT NO.: 214


DEBIT CREDIT

1 Balance P 160.00 160.00 15 J2 4.00 164.00 30 J4 160.00 4.00 31 J4 8.00 12.00

ACCOUNT: SUTA Tax Payable ACCOUNT NO.: 215


DEBIT CREDIT

1 Balance P 1,060.00 1,060.00 15 J2 27.00 1,087.00 30 J4 1,060.00 27.00 31 J4 54.00 81.00

ACCOUNT: Wages Payable ACCOUNT NO.: 220


DEBIT CREDIT

31 Adjusting J5 1,175.00 1,175.00

ACCOUNT: Sales Tax Payable ACCOUNT NO.: 230


DEBIT CREDIT

1 Balance P 240.00 240.00 3 J1 30.00 270.00

10 J1 15.00 285.00 20 J3 240.00 45.00 24 J3 27.00 72.00 25 J3 3.00 69.00 31 J4 36.00 105.00

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GENERAL LEDGER

ACCOUNT: Holly Whistler, Capital ACCOUNT NO.: 311


DEBIT CREDIT

1 Balance P 10,000.00 10,000.00 1 J1 55,000.00 65,000.00

31 Closing J5 34,000.00 99,000.00 31 Closing J5 2,000.00 97,000.00

ACCOUNT: Holly Whistler, Drawing ACCOUNT NO.: 312


DEBIT CREDIT

29 J4 2,000.00 2,000.00 31 Closing J5 2,000.00 -

ACCOUNT: Income Summary ACCOUNT NO.: 313


DEBIT CREDIT

31 Closing J5 59,156.00 59,156.00 Closing J5 25,156.00 34,000.00 Closing J5 34,000.00 -

ACCOUNT: Sales - Obedience Training ACCOUNT NO.: 401


DEBIT CREDIT

3 J1 15,000.00 15,000.00 8 J1 3,000.00 18,000.00

10 J1 10,250.00 28,250.00 18 J3 500.00 28,750.00 24 J3 16,100.00 44,850.00 31 J4 12,400.00 57,250.00 31 Closing J5 57,250.00 -

ACCOUNT: Sales - Merchandise ACCOUNT NO.: 410


DEBIT CREDIT

3 J1 500.00 500.00 10 J1 250.00 750.00 24 J3 450.00 1,200.00 31 J4 600.00 1,800.00 31 Closing J5 1,800.00 -

ACCOUNT: Sales Returns and Allowances ACCOUNT NO.: 410.1


DEBIT CREDIT

13 J2 200.00 200.00 25 J3 50.00 250.00 31 Closing J5 250.00 -

ACCOUNT: Sales Discounts ACCOUNT NO.: 410.2


DEBIT CREDIT

16 J2 60.00 60.00 31 Closing J5 60.00 -

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GENERAL LEDGER

ACCOUNT: Purchases ACCOUNT NO.: 501


DEBIT CREDIT

5 J1 400.00 400.00 31 Adjusting J5 600.00 1,000.00 31 Closing J5 1,000.00 -

ACCOUNT: Purchase Returns & Allowances ACCOUNT NO.: 501.1


DEBIT CREDIT

10 J2 100.00 100.00 31 Closing J5 100.00 -

ACCOUNT: Purchase Discounts ACCOUNT NO.: 501.2


DEBIT CREDIT

14 J4 6.00 6.00 31 Closing J5 6.00 -

ACCOUNT: Wages Expense ACCOUNT NO.: 510


DEBIT CREDIT

15 J2 4,000.00 4,000.00 31 J4 8,000.00 12,000.00 31 Adjusting J5 1,175.00 13,175.00 31 Closing J5 13,175.00 -

ACCOUNT: Payroll Taxes Expense ACCOUNT NO.: 520


DEBIT CREDIT

15 J2 337.00 337.00 31 J4 674.00 1,011.00 31 Closing J5 1,011.00 -

ACCOUNT: Advertising Expense ACCOUNT NO.: 530


DEBIT CREDIT

23 J3 800.00 800.00 31 Closing J5 800.00 -

ACCOUNT: Training Supplies Expense ACCOUNT NO.: 535


DEBIT CREDIT

31 Adjusating J5 500.00 500.00 31 Closing J5 500.00 -

ACCOUNT: Office Supplies Expense ACCOUNT NO.: 540


DEBIT CREDIT

31 Adjusting J5 450.00 450.00 31 Closing J5 450.00 -

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GENERAL LEDGER

ACCOUNT: Insurance Expense ACCOUNT NO.: 545


DEBIT CREDIT

31 Adjusting J5 1,200.00 1,200.00 31 Closing J5 1,200.00 -

ACCOUNT: Rent Expense ACCOUNT NO.: 555


DEBIT CREDIT

2 J1 4,000.00 4,000.00 31 Closing J5 4,000.00 -

ACCOUNT: Repair Expense ACCOUNT NO.: 560


DEBIT CREDIT

25 J3 900.00 900.00 27 J3 62.00 962.00 31 Closing J5 962.00 -

ACCOUNT: Telephone Expense ACCOUNT NO.: 565


DEBIT CREDIT

17 J2 140.00 140.00 27 J3 28.00 168.00 31 Closing J5 168.00 -

ACCOUNT: Utilities Expense ACCOUNT NO.: 570


DEBIT CREDIT

18 J3 580.00 580.00 31 Closing J5 580.00 -

ACCOUNT: Depreciation Expense-Training Equipment ACCOUNT NO.: 580


DEBIT CREDIT

31 Adjusting J5 1,000.00 1,000.00 31 Closing J5 1,000.00 -

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

258000742.xlsx Printed: 01/21/2015

ACCOUNTS RECEIVABLE LEDGER

NAME: Pet Smart, LLC ACCOUNT NO: 10-111

ADDRESS: 123 Main Street, Apopka, FL 32771

TERMS: Net 30


8 J1 3,000.00 3,000.00 16 J2 3,000.00 -

NAME: Lori Alamanda ACCOUNT NO: 10-487 ADDRESS: 4657 West Airport Blvd., Sanford, FL 32773

TERMS: 2% 10 days, Net 30


18 J3 500.00 500.00 26 J3 250.00 250.00

Lucky Dog TrainingSchedule of Accounts Receivable

October 31, 2012

Pet Smart, LLC $ -

Lori Alamanda 250.00

Total Accounts Receivable $ 250.00

POST. REF.

2012Oct.

POST. REF.

2012Oct.

258000742.xlsx Printed: 01/21/2015

ACCOUNTS RECEIVABLE LEDGER

NAME: Agility Training Manufacturer ACCOUNT NO: A001

ADDRESS: 46 Papillon Blvd., Clermont, FL 34711

TERMS: Net 30


2 J1 48,000.00 48,000.00

NAME: Canine Collars ACCOUNT NO: C046 ADDRESS: 87 W. Mills Ave, Winter Park CO 20610TERMS: 2% 10 days, Net 30


5 J1 400.00 400.00 10 J2 100.00 300.00 14 J2 300.00 -

NAME: Doggie's Delight ACCOUNT NO: D023 ADDRESS: 1869 1st Street, Orlando FL 32817TERMS: Net 6 mo


12 J2 250.00 250.00 24 J3 300.00 550.00 27 J4 50.00 500.00 31 J4 500.00 -

NAME: Gordon's Office Depot ACCOUNT NO: G049 ADDRESS: 86 W. Orange Ave, Orlando FL 32819TERMS: Net 30


6 J1 600.00 600.00 29 J4 100.00 500.00

Lucky Dog TrainingSchedule of Accounts Payable

October 31, 2012

Agility Training Manufacturer $ 48,000.00 Canine Collars - Doggie's Delight - Gordon's Office Depot 500.00 Total Accounts Payable $ 48,500.00

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

POST. REF.

2012Oct.

258000742.xlsx Printed: 01/21/2015

ACCOUNTS RECEIVABLE LEDGER Worksheet

For Month Ended October 31, 2012

Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance SheetAccount Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

Cash 98,959.00 ### 98,959.00 Petty Cash 100.00 ### 100.00 Account Receivable 250.00 ### 250.00 Merchandise Inventory 2,000.00 c 600.00 1,400.00 1,400.00 Training Supplies 600.00 b 500.00 100.00 100.00 Office Supplies 550.00 a 450.00 100.00 100.00 Prepaid Insurance 3,600.00 d 1,200.00 2,400.00 2,400.00 Training Equipment 48,000.00 ### 48,000.00 Accum. Depr.- Training Equipment e 1,000.00 1,000.00 1,000.00 Accounts Payable 48,500.00 ### 48,500.00 Employee Income Tax Payable 1,600.00 ### 1,600.00 Social Security Tax Payable 1,488.00 ### 1,488.00 Medicare Tax Payable 348.00 ### 348.00 FUTA Tax Payable 12.00 ### 12.00 SUTA Tax Payable 81.00 ### 81.00 Wages Payable f 1,175.00 1,175.00 1,175.00 Sales Tax Payable 105.00 ### 105.00 Holly Whistler, Capital 65,000.00 ### 65,000.00 Holly Whistler, Drawing 2,000.00 ### 2,000.00 Income Summary

Sales Obedience Training 57,250.00 ### 57,250.00 Sales Merchandise 1,800.00 ### 1,800.00 Sales Return & Allowances 250.00 ### 250.00 Sales Discounts 60.00 ### 60.00 Purchases 400.00 c 600.00 1,000.00 1,000.00 Purchase Return & Allowances 100.00 ### 100.00 Purchase Discounts 6.00 ### 6.00 Wages Expenses 12,000.00 f 1,175.00 13,175.00 13,175.00 Payroll Taxes Expenses 1,011.00 ### 1,011.00 Advertising Expense 800.00 ### 800.00 Training Supplies Expense b 500.00 500.00 500.00 Office Supplies Expenses a 450.00 450.00 450.00 Insurance Expense d 1,200.00 1,200.00 1,200.00 Rent Expense 4,000.00 ### 4,000.00 Repair Expense 962.00 ### 962.00 Telephone Expense 168.00 ### 168.00 Utilities Expense 580.00 ### 580.00 Depr. Expense - Training Equipment e 1,000.00 1,000.00 1,000.00

176,290.00 176,290.00 4,925.00 4,925.00 178,465.00 178,465.00 25,156.00 59,156.00 153,309.00 119,309.00 Net Income 34,000.00 ###

59,156.00 59,156.00 153,309.00 153,309.00

-

258000742.xlsx Printed: 01/21/2015

GENERAL JOURNAL Income Statement

For the yeard period Ended October 31, 2012

RevenuesSales- Obedience Training $ 57,250.00 Sales- Merchandise $ 1,800.00 Less: Sales Returns & Allowances (250.00)Less: Sales Discounts (60.00)

Total Revenue $ 58,740.00 ExpensesPurchases $ 1,000.00 Less: Purchases Returns & Allowances $ (100.00)Less: Purchase Discounts $ (6.00)

Wages expense $ 13,175.00 Payroll Taxes Expenses $ 1,011.00 Anvertising Expenses $ 800.00 Training Supplies Expenses $ 500.00 Office Supplies Expenses $ 450.00 Insurance expense $ 1,200.00 Rent expense $ 4,000.00 Repair Expenses $ 962.00 Telephone expense $ 168.00 Utilities expense $ 580.00 Depreciation expense - printing equipment $ 1,000.00

Total expenses 24,740.00

Net Income $ 34,000.00

GENERAL JOURNAL Statement of Owner's Equity

For the yeard period Ended October 31, 2012

Holly Whister, Capital, October 1 2012 $ 10,000.00 Add aditional Investment $ 55,000.00 Total Investment $ 65,000.00 Net income for October $ 34,000.00 Less: Withdrawls for October $ 2,000.00 Increase in capital $ 32,000.00 Holly Whister, Capital, October 31 2012 $ 97,000.00

GENERAL JOURNAL Balance Sheet

October 31, 2012

AssetsCurrent Assets:

Cash $ 98,959.00 Petty Cash $ 100.00 Accounts Receivable $ 250.00 Merchandise Inventory $ 1,400.00 Training Supplies $ 100.00 Office Supplies $ 100.00 Prepaid insurance $ 2,400.00

Total current assets $ 103,309.00 Property, plant, and equipment:

Training Equipment 48,000.00 Less accumulated depreciation 1,000.00 47,000.00

Total Assets $ 150,309.00

Liabilities Current liabilities:

Accounts payable $ 48,500.00 Employee Income Tax Payabe $ 1,600.00 Social Security Tax Payable $ 1,488.00 Medicare Tax Payable $ 348.00 FUTA Tax Payable $ 12.00 SUTA Tax Payable $ 81.00 Wages payable $ 1,175.00 Sales Tax Payable 105.00

Total current liabilities 53,309.00 Owner's Equity

Holly Whister, Capital 97,000.00 Total liabilities & owner's equity $ 150,309.00

258000742.xlsx Printed: 01/21/2015


DATE DESCRIPTION DEBIT CREDIT

1 Adjusting Entries 1

2 31 Office Supplies Expense 540 450.00 2

3 Office Supplies 140 450.00 3

4 4

5 31 Training Supplies Expenses 535 500.00 5

6 Training Supplies 135 500.00 6

7 7

8 31 Purchase 501 600.00 8

9 Merchandise Inventory 130 600.00 9

10 10

11 31 Insurance Expense 545 1,200.00 11

12 Prepaid Insurance 145 1,200.00 12

13 13

14 31 Depreciation Expense - Training Equip. 580 1,000.00 14

15 Accum. Depr. - Training Equipment 181.1 1,000.00 15

16 16

17 31 Wages Expenses 510 1,175.00 17

18 Wages Payable 220 1,175.00 18

19 19

20 Closing Entries 20

21 31 Sales - Obedience Training 401 57,250.00 21

22 Sales - Merchandise 410 1,800.00 22

23 Purchase Returns & Allowances 501.1 100.00 23

24 Purchase Discounts 501.2 6.00 24

25 Income Summary 313 59,156.00 25

26 26

27 31 Income Summary 313 25,156.00 27

28 Sales Returns & Allowances 410.1 250.00 28

29 Sales Discounts 410.2 60.00 29

30 Purchases 501 1,000.00 30

31 Wages Expense 510 13,175.00 31

32 Payroll Taxes Expense 520 1,011.00 32

33 Advertising Expense 530 800.00 33

34 Training Supplies Expense 535 500.00 34

35 Office Supplies Expense 540 450.00 35

36 Insurance Expense 545 1,200.00 36

37 Rent Expense 555 4,000.00 37

38 Repair Expense 560 962.00 38

39 Telephone Expense 565 168.00 39

40 Utilities Expense 570 580.00 40

41 Depreciation Expense - Training Equip. 580 1,000.00 41

42 42

43 31 Income Summary 313 34,000.00 43

44 Holly Whistler, Capital 311 34,000.00 44

45 45

46 31 Holly Whistler, Capital 311 2,000.00 46

47 Holly Whistler, Drawing 312 2,000.00 47

48 48

49 49

POST. REF.

2012Oct.

258000742.xlsx Printed: 01/21/2015

GENERAL JOURNAL

Post-ClosingTrial Balance

October 31, 2012

ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCE

Cash 101 98,959.00

Petty Cash 110 100.00

Accounts Receivable 120 250.00

Merchandise Invenventory 130 1,400.00

Training Supplies 135 100.00

Office Suplies 140 100.00

Prepaid Insurance 145 2,400.00

Training Equipment 181 48,000.00

Accumulated Depreciation-Training Equipment 181.1 1,000.00

Accounts Payable 200 48,500.00

Employee Income Tax Payable 211 1,600.00

Social Security Tax Payable 212 1,488.00

Medicare Tax Payable 213 348.00

FUTA Tax Payable 214 12.00

SUTA Tax Payable 215 81.00

Wages Payable 220 1,175.00

Sales Tax Payable 230 105.00

Holly Whistler, Capital 311 97,000.00

151,309.00 151,309.00

ACCOUNT NO.

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