Year Beginning Book Value Annual Depreciation Ending Book Value. Year Beginning Book Value Annual Depreciation Ending Book Value

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1 Plant Asset: Display Cases Original Cost: $5,000 Depreciation Method: Straight Line Estimated Salvage Value: $500 Estimated Useful Life: 5 Years Year Beginning Book Value Annual Depreciation Ending Book Value $5, $ $4, Plant Asset: Computer Original Cost: $1,500 Depreciation Method: Straight Line Estimated Salvage Value: $300 Estimated Useful Life: 4 Years Year Beginning Book Value Annual Depreciation Ending Book Value $1, $ $1,200.00

2 GENERAL JOURNAL PAGE 12 DATE ACCOUNT TITLE DOC. NO. 1 Dec. 2 Accounts Payable/Everything Sports DM Purchase Ret. And Allow Dec. 2 Accounts Payable/Hartland Sporting Goods DM Purchase Ret. And Allow Dec. 7 Sales Returns and Allowances CM Sales Tax Payable Accounts Receivable/William Johnson Dec. 7 Sales Returns and Allowances CM Sales Tax Payable Accounts Receivable/Barbara Sanders Dec. 9 Allowance for Uncollectible Accounts M Accounts Receivable/Roger Blackstone Dec. 9 Allowance for Uncollectible Accounts M Dec. 9 Accounts Receivable/Roger Blackstone M Allowance for Uncollectible Accounts Dec. 10 Supplies P Accounts Receivable/Glen Wright Accounts Payable/Certain Winners, Inc GENERAL JOURNAL PAGE 13 DATE ACCOUNT TITLE DOC. NO. 1 Adjusting Entries 1 2 Dec. 9 Uncollectible Accounts Expense M Allowance for Uncollectible Accounts Dec. 12 Depreciation Expense Office Equipment M Accumulated Depreciation Office Equipment Dec. 12 Depreciation Expense Store Equipment M Accumulated Depreciation Store Equipment ACCOUNT Supplies ACCOUNT NO DATE ITEM Dec. 2 CP Dec. 10 GJ

3 ACCOUNT Office Equipment ACCOUNT NO DATE ITEM Dec. 12 CR ACCOUNT Accumulated Depreciation Office Equipment ACCOUNT NO DATE ITEM Dec. 12 GJ Dec. 12 CR ACCOUNT Store Equipment ACCOUNT NO DATE ITEM Dec. 12 CR ACCOUNT Accumulated Depreciation Store Equipment ACCOUNT NO DATE ITEM Dec. 12 GJ Dec. 12 CR

4 ACCOUNT Accounts Payable ACCOUNT NO DATE ITEM Dec. 2 GJ Dec. 2 GJ Dec. 10 GJ ACCOUNT Purchases ACCOUNT NO DATE ITEM Dec. 2 CP Dec. 11 CP ACCOUNT Advertising Expense ACCOUNT NO DATE ITEM Dec. 2 CP Dec. 3 CP Dec. 12 CP ACCOUNT Depreciation Expense Office Equipment ACCOUNT NO DATE ITEM Dec. 12 GJ

5 ACCOUNT Depreciation Expense Store Equipment ACCOUNT NO DATE ITEM Dec. 12 GJ ACCOUNT Loss on Plant Assets ACCOUNT NO DATE ITEM Dec. 12 CR ACCOUNTS RECEIVABLE LEDGER CUSTOMER William Johnson CUSTOMER NO. 120 DATE ITEM Dec. 3 S Dec. 6 S Dec. 7 CR Dec. 7 GJ Dec. 11 S ACCOUNTS RECEIVABLE LEDGER CUSTOMER Barbara Sanders CUSTOMER NO. 140 DATE ITEM Dec. 4 S Dec. 6 S Dec. 7 CR Dec. 7 GJ Dec. 12 CR

6 CASH RECEIPTS JOURNAL PAGE 12 DATE ACCOUNT TITLE DOC. NO. GENERAL ACCOUNTS SALES TAX PAYABLE RECEIVABLE SALES SALES DISCOUNT CASH 1 Dec. 3 T Dec. 4 T Dec. 5 T Dec. 7 William Johnson R Dec. 7 Robert Paquette R Dec. 7 Barbara Sanders R Dec. 9 Roger Blackstone R Dec. 12 Barbara Sanders R Dec. 12 T Dec. 12 Accum. Depr. Office Equipment R Office Equipment Dec. 12 Accum. Depr. Store Equipment R Store Equipment Loss on Plant Assets

7 CASH PAYMENTS JOURNAL PAGE 12 DATE ACCOUNT TITLE CK. NO. GENERAL ACCOUNTS PAYABLE PURCHASES DISCOUNT CASH 1 Dec. 1 Rent Expense Dec. 2 Certain Winners, Inc Dec. 2 Purchases Dec. 2 Utilities Expense Dec. 2 Advertising Expense Dec. 2 Supplies Dec. 2 Hartland Sporting Goods Dec. 2 Miscellaneous Expense Dec. 2 Prepaid Insurance Dec. 2 Everything Sports Dec. 3 Utilities Expense Miscellaneous Expense Advertising Expense Dec. 11 Purchases Dec. 12 Advertising Expense Dec. 12 Everything Sports

8 SALES JOURNAL PAGE 12 DATE ACCOUNT ED SALE NO. ACCOUNTS RECEIVABLE SALES SALES TAX PAYABLE 1 Dec. 3 William Johnson Dec. 4 Barbara Sanders Dec. 5 Robert Paquette Dec. 6 Barbara Sanders Dec. 6 William Johnson Dec. 11 William Johnson ACCOUNTS PAYABLE LEDGER VENDOR Certain Winners, Inc. VENDOR NO. 220 DATE ITEM Dec. 1 P Dec. 1 P Dec. 2 CP Dec. 10 GJ ACCOUNTS PAYABLE LEDGER VENDOR Everything Sports VENDOR NO. 230 DATE ITEM Dec. 1 P Dec. 1 P Dec. 2 CP Dec. 2 GJ Dec. 12 CP

PERIOD-END PROCEDURES

chapter4 4/18/07 C 3:19 PM H A Page 102 P T E R 4 PERIOD-END PROCEDURES Make General Journal Entries CHAPTER OBJECTIVES Update the Chart of Accounts List Record adjustments in the Make General Journal