2154 Rosemont University 12-16-22 121 E. Front Street Allied Trucking Louisville, KY 40202 2961XZ Express 5 2 10 4 Cartons BB-267 Goal and Rim Set Cartons BB-358 Backboards 210 246 Cartons FB-027 Shoulder Pad Sets Cartons BB-225 Football Helmet 300 128 $37.00 / / / 11.10 47.36 N//A N/A N/A 77.70 91.02 227.18 N/A N/A / Allied Trucking Nancy Ford John Arens 12-16-22 2154 Rosemont University 12-21-22 121 E. Front Street Allied Trucking Louisville, KY 40202 Express 2988XZ Cartons FB-027 Shoulder Pad Set 5 150 $37.00 N/A N/A 55.50 N/A 55.50 N/A N/A N/A / Interstate Motor Freight Nancy Ford Jennifer Hansen 12-21-22 Rosemont University 12-21-22 Nancy Ford 121 E. Front St. Louisville 2/10, NET 30 KY 40202 Allied Trucking 6891BR 53426 12-21-22 25 20 75 40 BB-267 BB-358 FB-027 BB-225 Goal and Rim Sets Backboards Shoulder Pad Sets Football Helmet 25 20 75 40 140 123 133 89 00 00 00 00 3,500 00 2,460 00 9,975 00 3,560 00 19,495 00 Hawkins College 7 12-21-22 Nancy Ford 2007 W. Grand River Berkley MI 48072 53426 12-27-22 25 FB-027 Shoulder Pad Sets Allied Trucking 6892BR 25 133 00 3,325 00 3,325 00 Dec. 16 Branch College / ACH 730 1 6 2 1 88 Dec. 27 Eastern Wisconsin University / 49326 729 1 2 0 0 0 00 47852 C-30 Dec. 27 Hawkins College / 5 8 3 5 00 5 8 3 5 00 1,621 1,621 88 88 22 12,000 12,000 00 00 22 5,835 5,835 00 00 December 16 22 December 27 December 27 1 Rosemont University 121 e. Front St. Louisville, KY 40202 732 12-21-22 1 12-31-22 12-31-22 19,495.00 19,495.00 19,495.00 19,495.00 732 19,495.00 19,495.00 Velocity Sporting Goods 1978 Michigan Ave. 1285 Colgrove Ave. Chicago, IL 60612 Pierre, SD 57501 Interstate Motor Freight 12-16-22 N/A Collect None 115 BB-019 Basketball pole pad 94 125 BB-538 Basketball Bag 26 75 BB-431 Whistle and lanyard - set of 6 25 50 BB-399 Basketball net 10 100 FB-027 Shoulder pad set 89 Ray Kramer None December 19 22 327 / Chicago Office Supply 1411 E. Michigan, Chicago, IL 60606 Your Truck 5 4 4126 8509 Laser printer tone cartridge 5 5302 Invoice forms - 100 16 GB Flash Drive - 3 pack All in good condition Nancy Ford Office December 20 22 328 Velocity Sporting Goods 1285 Colgrove Ave., Pierre, SD 57501 / Interstate Motor Freight 71 BB-019 125 BB-538 75 50 BB-431 Basketball pole pad Basketball bag Whistle and lanyard - set of 6 BB-399 FB-027 Basketball net Shoulder pad set 100 All in good condition, but BB-019 lacks inventory Nancy Ford inventory warehouse 1 SUA 2 Assignment Instructions: 1. Automatically done as shown below 2. Posted journal entries in the five special journals to GL Below are checked reference marks after posting 3. Individual transactions in “Other G/L” columns are posted to the appropriate general ledger account Journal Name G/L Acct # to be posted Description Dr. or Cr.? AMT SJ CR P Need to Post? No Yes Yes 31200 40300 Cr. Dr. $825 1 more entry $558.09 P Yes 10800 Misc. Rev. Chicago Office Supply- name of the account Chicago Office Supplies Dr. $7367.00 1 more entry 1 2 CD Yes First Security insurance Board of Water and light Worldwide management Dr. CD Yes CD Yes 41000 40100 CD Yes 20300 Internal Revenue Service Dr. CD Yes 20700 Charts of account Dr. CD Yes 20600 Internal Revenue Service State of Illinois State of Illinois Dr. 41000 CD CD P Yes Yes No 20500 20400 $575.00 Dr. Dr. $1,360.25 $4800 $1,037.00 Dr. Dr. $2,029.32 $10.30 $60.96 $590.86 2 more entries 4. Bank Reconciliation a. G/L Cash account screenshot b. Comparing each entry in the Cash Receipts Prelist (Doc#9) to the CR Journal and check. The following are the matching entries in both the Cash Receipts Prelist and the CR Journal. NF 6-Dec Gates University 5,891.00 2 more columns- Amount of Invoice and Bank 2 3 8-Dec 12-Dec 14-Dec 14-Dec Rosemont University Hancock College Clayborn University Atwood Brothers NF NF NF NF Recon Ctrl. Check # ACH 4,090.52 5,306.00 7,106.96 825.00 The Cash Receipts Prelist include 3 additional entries for the dates 14-Dec $1622.88, 19- Dec $90,000.00, and 22-Dec $12000.00 which are not captured in the CR Journal. In the submission, I have included a copy of the Cash Receipts Prelist. c. Bank reconciliation statement Bank Reconciliation December 2022 Bank Statement Unadjusted Balance 12/31/22 131,549.53 General Ledger 110,392.31 Add Deposits in transit - need 1 more 16-Dec 1,622.88 19-Dec 90,000.00 27-Dec 12,000.00 103,622.88 Deduct Outstanding checks: #1118 #1142 E-53430- remove E-53430- remove 1,985.21 4,800.00 722.30 36,115.00 2,029.32 #1145- remove 1,037.00 3 4 #1126- remove #1127- remove #1128- remove 2,765.38 1,764.18 742.11 7 more Outstanding Checks 9 Checks Outstanding 51,960.50 Je Post Ref Adjustments bank fee (25.50) (25.50) Adjusted Balance 183,211.91 110,366.81 d. The below adjusting entries are added in General Journal and posted to GL Debit 3 31Dec Other operatin 4100 g 0 expense 1010 0 Credit Approval 25.50 RK x 25.50 cash x The following entries are added in General Journal. Debit App rov al Credit 4 5 2 31Dec payroll tax 40600 expense x 1,278.21 20700 fica payable state unemployment taxes payable federal unemployment taxes payable 20500 20600 x 1,140.39 x 117.89 x 19.93 rk 5. All General Journal entries that I have so far ACCT# 10300 Description ADA Dr or Cr. ? Dr. 41000 10100 41000 10100 40600 20700 20500 20600 OOE Cash OOE Cash PTE FP SUTP FUTP Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. AMT 2900 – need 1 more 21.00 21.00 25.50 25.50 1278.21 1140.39 117.89 19.93 6. Skipped 7. AR aging report for Rosemount University (3 points) Customer Name Invoice # Rosemont University 722 Rosemont University 724 Rosemont University 727 Invoice Date Due Date Days Past Due Invoice Amount Outstanding Aging Balance Period 6-Oct-23 16-Oct23 0 29,018.00 29,018.00 0-30 days 7-Nov-23 17-Nov23 0 2,460.00 2,460.00 0-30 days 1-Dec-23 31-Dec23 0 4,174.00 4,174.00 0-30 days The AR aging report for Rosemont University as of Dec 31 5 6 Aging Period 0-30 days 31-60 days 61-90 days over 90 days Total Total Outstanding Balance 35,652.00 0 0 0 35,652.00 6 SUA 1 - Transaction Table -Transaction List A_Alt 1(84 points) Purple cells are given and black cells are things they need to fill in. The table below lists what you need to do for each transaction. Please assume the employee role of Waren Sports and fill in each missing cell with appropriate actions. If no action is needed for that transaction, type in “NA” in the corresponding cell. For each transaction, I have completed some tasks. You only need to fill in the blank cells. Note that for Transaction #1, 8, and 20, I have filled in all cells. However you still need to record these transactions in your workbook if applicable. Instructions: 1. Source Documents – Fill in documents you need to prepare for this transaction. Clearly write out Document #, and name, and the specific number of that particular document because some documents have multiple copies. 2. Journals - Fill in the name of special journals you use to record this transaction. - Specify what accounts to debit and credit and the dollar amount. - When the transaction needs to be recorded under “Other G/L”, write out the account number based on Chart of Accounts. You do not need to put the customer account number or vendor account number in the table. But you need to specify the customers or vendors’ names. - Record the transaction in corresponding journals in the workbook. 3. Ledgers - Fill in the name of the subsidiary ledger to record the transaction. - Also specify the names of customer or vendor - Show debits or credits and the dollar amount - Record the transaction in the subsidiary ledgers in the workbook 4. JE - Write out the complete journal entries for this transaction. - Nothing to do in workbook regarding this column Tran# Source Documents 1 -Doc #5: Bill of lading 6890BR -#6: Sale invoice # 731 Journals (Fill in here and workbook) Sales Journal: 12/16 Rosemount U: Dr. AR G/L $15,490 Ledgers (Fill in here and in the workbook) AR subsidiary ledge: (Rosemont) Dr. 15490 JE Dr. AR_Rosemount 15490 CR. Sale 15490 Cr: sales $15,490 2 3 4 #9 cash receipts prelist #16 purchase order No.2378328 #17 no.73 receiving report 5 #9 cash receipts prelist 6 7 #12 return request (sign) #20 checks#1152 Need to write “paid” on vendor invoice (Doc #18, first security insurance) N/A 8 9 10 #17 receiving report NO.74 (note everything is received except only 71 (not the 115) basketball pole pads received -#6 Sales invoice No.732, JA needs to initial the inivoice; Cash receipts journal: Dr: 1622.88 Dr. Sales Disc. 33.12 Cr. A/R 1656 AR subsidiary ledge: (Branch College)cr. 1656 NA Purchases Journal: Other G/L 40300: Dr. 830.25 Cr. AP G/L $830.25 Cash receipts journal: Dr: 90000 ; Cr. Other GL (21100): 90,000 NA Cash Disbursements Journal: Cr. $1710 Dr. Other GL (41000) : $1710 N/A NA SJ 12/21: Rosemount U, cr $3960 Dr. AR GL $3960 Cash: 1622.88 Sales discount $33.12 AR_Branch College $1656 NA Ap subsidiary (Chicago office): cr 830.25 NA Office supplies 830.25 AP_Chicago Office 830.25 NA Cash 90000 N/P 90000 NA NA NA Other Op. Exp (acc# 41000) $1710 Cash $1710 Update the pay rate for each employee (in the “Pay Rate History” tab in your workbook. In your hard copy SUA packet, the pay rate history is on the page of Employee Earnings Sub ledger. NA N/A AR subsidiary ledger: (Rosemont) : Dr. 3960 Dr. AR_Rosemount 3960 CR. Sale 3960 NA 11 12 13 14 15 16 17 18 -#5 bill of lading No.6891BR, NF signs Use FC p22 (Accounting): -#18 Vendor invoice from Velocity (adjust the differences in quantities and prices, JA initial the adjusted vendor invoice) N/A -#12 return request (complete the last 4 columns) -#17 receiving report No.75 -#13 Credit memo No.42 -#8 12 the check Doc#8 -# 9 Cash receipt prelist (Look for the original sales amt in SJ) 1) FC p21 “receipt of cash”: - #9 Cash receipt prelist 2) FC p18 “Shipping and Billing” -#5 bill of lading #6892R -#7 Invoice C-30 3) Flowchat p21 “Deposit” -#10 deposit ticket, front and back FC p23: -#20 Check#1153, sign, write “paid” on vendor invoice FC p23: -#20 Check#1154, sign, write “paid” on vendor invoice FC p23 -#21 ACH payment auth. write “paid” on vendor invoice Purchases journal: Dr. Purchase GL $22515 Cr. AP GL $22515 AP sub ledger: Velocity: Cr: 22515 Dr. Purchase 22515 Cr: AP_Velocity 22515 GJ ADA (10300) dr: $2900 Cr. AR GL (10200) $2900 SJ: Dr. Sales returns GL (30200) $4550 Cr. AR GL $4550 Cash receipts Journal: dr. $12,000 cr. AR GL $12000 AR_sub ledger: Stevenson, cr, $2900 Dr. ADA $2900 CR. AR_Stevenson $2900 AR_sub ledger: Eastern Wisconxin U, cr. $4550 Dr. Sales returns $4550 Cr. AR_EWU $4550 AR sub ledger EWU cr. $12000 Dr. Cash 12,000 Cr. AR_ewu $12000 Cash receipts Journal dr. $5835 cr. Sales G/L $5835 NA Dr. Cash $5835 Cr. Sales: $5835 Cash Disbursements Journal: Cr. $1590 Dr. Other G/L (40200) $1590 Cash Disbursements: Cr. $738.15 Dr. Freight-in $738.15 Cash Disbursements Journal: Cr. 22064.70 Cr. Purchase discount 450.3 NA Dr. Advertising expense (other G/L 40200) $1590 Cr. Cash $1590 Dr. Freight-in G/L 30800 $738.15 Cr. Cash $738.15 NA AP sub ledger Velocity dr. 22515 Dr. AP_Velocity 22515 Cr. Pur. Disc. 450.30 Cr. Cash 22064.70 1 19 FCp22 receiving: -#17 receiving report No.76, note No quantity differences between receiving report and vendor invoice 201 FC P21: #22 RK approves and initial the time record report - #20 Checks# 1155-1157 Dr. AP G/L $22515 Purchase Journal: dr. Other G/L (10800) $1256.10 cr. AP G/L $1256.10 Payroll Journal: - Fill in the three section of earnings, deductions, payment for each employee -Fixed Asset Sub Ledger: Establish a new one for standing workstations Dr $1256.10 -AP sub ledger AP_Chicago Office Supply : cr. $1256.10 Employee sub ledger, one for each person Dr. Fixed assets (10800) $1256.10 Cr. AP_Chicago Office: $1256.10 Dr. wages and salaries expense 7666.83 Cr. FICA 586.51 Cr. Fed income taxes w/h 604 Cr. State income taxes w/h 346.67 Cr. Cash (net pay) 6129.65 Need to use the information in p.8 of Instr. & FC book to get the SS tax rate of 6.2% and medicare 1.45%. Total of SS tax + Medicare is FICA.
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