USA: +1(669)289-8683 
Sign in
the assignment is attached I need it done in 24 hours, thank you.
Cogg
Hill Camping Equipment Company
Practice Set
For Use with
Fundamental Accounting Principles
2
0
th Edition
Wild, Larson & Chiappetta
Prepared by
Leland Mansuetti
Introduction
The Cogg Hill Camping Equipment Company sells and rents camping equipment from its store in Denver, Colorado. It is a sole proprietorship and is owned and operated by
Samuel Stephens
. The company sells camping equipment and outdoor clothing. Cogg Hill maintains a perpetual inventory system. The company also rents tents and groups of assorted camping equipment (e.g., Type A, B, and C) to trail guides. The terms of all sales and all rentals are “net
3
0.” The company delivers the equipment to many of its customers. Some customers pick it up at the store. Mr. Stephens makes all deposits. He removes the cash from the cash register and lists all checks received on a deposit ticket. He then gives the duplicate deposit slip to you for recording. The company’s accounting system includes:
Journals
Ledgers
Sales Journal
General Ledger
Purchases Journal
Accounts Receivable
Subsidiary Ledger
Cash
Receipts Journal
Accounts Payable
Subsidiary Ledger
Cash Disbursements
Journal
General Journal
The accounting files include:
Name of File
Business Papers to be Filed
Sales and Rental Invoices
Bookkeeper
’s copy of sales invoices
Bookkeeper’s copy of rental invoices
Purchase Invoices
Purchase invoices and credit memorandums
Interoffice Memoranda
Interoffice memoranda received from Mr. Stephens
Checks to be signed
Checks prepared for Mr. Stephens
Duplicate Deposit Tickets
Bookkeeper’s copy of deposit tickets
The post-closing trial balance of the Cogg Hill Camping Equipment Company, as of
May
3
1
, was as follows:
$
21
,
5
6
7
.
8
1
Accounts Receivable
11,
4
9
2.
00
Allowance for Doubtful Accounts
379.
35
Interest Receivable
56.00
Notes Receivable
– Emory Co.
9,8
70
.
40
(6-month,
8
%, due August
15
)
Merchandise Inventory
174,9
85
.00
Office Supplies
55
7.
05
Store Supplies
3
24
.
75
Prepaid Insurance
6
50
.00
Office Equipment
17,
25
0.00
Accumulated Depreciation
– Office Equipment
6,
45
0.00
Store Equipment
69,
500
.00
Accumulated Depreciation – Store Equipment
22,
650
.00
Camping Rental Equipment
16
3
,175.15
Accumulated Depreciation – Camping Rental Equipment
91,
38
7.00
Building
350,
000
.00
Accumulated Depreciation – Building
12
1,475.00
Accounts Payable
10
,435.35
Interest Payable
1,
20
0.00
Mortgage Note Payable
– 9%
1
60
,000.00
Samuel Stephens, Capital
405,451.46
Total
s
$
8
19
,
42
8.16
$
81
9,4
28
.16
Accounts Receivable Subsidiary Ledger
|
P. |
2, 13 1 .00 |
||||||||||||||||||||
|
K. Gragg |
8 90 .00 |
||||||||||||||||||||
|
H. Holmes |
1, 696 .00 |
||||||||||||||||||||
|
S. |
655 .00 |
||||||||||||||||||||
|
A. |
1, 275 .00 |
||||||||||||||||||||
|
J. |
4, 845 .00 |
||||||||||||||||||||
| Total | |||||||||||||||||||||
|
Accounts Payable Subsidiary Ledger |
|||||||||||||||||||||
|
Dex Company |
1, 117 .90 |
||||||||||||||||||||
|
Dixon Company |
817 .40 |
||||||||||||||||||||
|
Fulton, Inc. |
108 .00 |
||||||||||||||||||||
|
Robinson Co. |
1, 942 .05 |
||||||||||||||||||||
|
Samson Dist. |
1, 95 0.00 |
||||||||||||||||||||
|
Technical Corp. |
2,000.00 |
||||||||||||||||||||
|
Zappo Corp. |
2,500.00 |
||||||||||||||||||||
Instructions
1.
Examine the business papers that follow. They consist of sales invoices, rental invoices, purchase invoices, duplicate deposits slips, credit memoranda and interoffice memoranda. They appear in the order in which they come to the bookkeeper’s attention. The actions you as bookkeeper should take regarding these are:
a.
Sales Invoices—Enter the information in the Sales Journal. Post to the Subsidiary Accounts Subsidiary Ledger.
b.
Rental Invoices—Enter the information in the Sales Journal. Post to the Subsidiary Accounts Subsidiary Ledger.
c.
Purchases Invoices—Enter the information in the Purchases Journal on the date the invoice is received for each purchase of merchandise inventory or supplies. Post to the Subsidiary Accounts Payable Ledger. Mr. Stephens will send you an interoffice memorandum when he wants you to prepare checks for payment of these invoices.
d.
Credit Memoranda—Enter the information in the General Journal.
e.
Duplicate Deposit Tickets—Write the amount of the deposit in the checkbook provided and record the information in the Cash Receipts Journal. All cash deposits are from cash sales of camping equipment and should be recorded as a credit to Sales. The checks listed on the deposit ticket are receipts from customers who have made payments on their accounts and should be recorded as credits to Accounts Receivable and posted to the Subsidiary Accounts Receivable Ledger.
f.
Interoffice Memoranda—The owner sends information to you, the bookkeeper, instructing you to do certain tasks, such as prepare checks for his signature, establish a new account, or reclassify a previously recorded purchase. When Mr. Stephens asks you to prepare checks for his signature, the steps you should take are as follows: (1) write the check in the checkbook and (2) record the information in the Cash Disbursements Journal. You are not authorized to sign checks.
2.
Remember to post daily the following:
a.
All transactions you record in the General Journal.
b.
Amounts for the Accounts Receivable debit column in the Sales Journal to each individual customer’s account in the Subsidiary Accounts Receivable Ledger.
c.
Amounts for the Accounts Payable credit column in the Purchases Journal to each individual creditor’s account in the Subsidiary Accounts Payable Ledger.
d.
Amounts for the Accounts Receivable credit column in the Cash Receipts Journal to each individual customer’s account in the Subsidiary Accounts Receivable Ledger.
e.
Amounts for the Accounts Payable debit column in the Cash Disbursements Journal to each individual creditor’s account in the Subsidiary Accounts Payable Ledger.
3.
At the end of the month, do the following:
a.
Foot and crossfoot the special journals and post to the General Ledger.
b.
To verify the accuracy of the subsidiary ledgers prepare a schedule of accounts receivable and a schedule of accounts payable, and compare the totals to the balances of the control accounts in the General Ledger.
c.
Compare the balance in the checkbook with the balance in the Cash account.
d.
Prepare a bank reconciliation as of
June
30
,
2
0
XX
.
e.
Record in the General Journal the adjustment(s) to the Cash account as required by the bank reconciliation.
f.
Prepare a trial balance in the Trial Balance columns of the worksheet.
g.
Complete the worksheet after using the following supplementary data:
1.
Accrue the interest on the Emory Company note.
2. Depreciation expense for the month
June
is: building, $1,500; office equipment, $
1,150
; store equipment, $3,600; and camping rental equipment, $2,670.
3. Bad debts are estimated to be .5 percent of total net credit sales (do not include rentals).
4. Insurance expense for the month is $250.
5. Office supplies on hand are $4
80
.
6. Store supplies on hand are $275.
7. Accrue salaries for 3 working days at $
18
0 per day.
8. Accrue one months’ (30 days) interest on the mortgage note.
h.
Record and post the adjusting entries.
i.
Prepare an income statement, statement of owner’s equity, and a balance sheet.
j.
Record and post the closing entries.
k.
Prepare a post-closing trial balance.
A Chart of General Ledger Accounts appears on the following page. Beginning with Business Paper #1, begin your work recording and filing the business papers as you have been instructed to do.
Chart of General Ledger Accounts
|
Account Title |
Account Number |
|||||
|
101 |
||||||
|
Petty Cash |
102 |
|||||
| Accounts Receivable |
106 |
|||||
|
107 |
||||||
|
109 |
||||||
| Notes Receivable |
111 |
|||||
|
119 |
||||||
|
124 |
||||||
|
125 |
||||||
|
128 |
||||||
|
163 |
||||||
|
Accumulated Depreciation(Office Equipment |
164 |
|||||
|
165 |
||||||
|
Accumulated Depreciation(Store Equipment |
166 |
|||||
|
167 |
||||||
|
Accumulated Depreciation(Camping Rental Equipment |
168 |
|||||
|
183 |
||||||
|
Accumulated Depreciation(Building |
184 |
|||||
| Accounts Payable |
201 |
|||||
|
203 |
||||||
|
Salaries Payable |
209 |
|||||
|
251 |
||||||
|
301 |
||||||
|
Samuel Stephens, Withdrawal s |
302 |
|||||
|
Camping Equipment Rental Revenue |
406 |
|||||
|
Interest Earned |
409 |
|||||
|
Camping Equipment Sales |
413 |
|||||
|
Cost of Goods Sold |
502 |
|||||
|
Depreciation Expense(Building |
606 |
|||||
|
Depreciation Expense(Office Equipment |
61 2 |
|||||
|
Depreciation Expense(Store Equipment |
613 |
|||||
|
Depreciation Expense(Camping Rental Equipment |
615 |
|||||
|
Salaries Expense |
62 2 |
|||||
|
Interest Expense |
633 |
|||||
|
Insurance Expense |
637 |
|||||
|
Office Supplies Expense |
650 | |||||
|
Store Supplies Expense |
651 |
|||||
|
Advertising Expense |
655 | |||||
|
Bad Debt Expense |
656 |
|||||
|
Miscellaneous Expense |
677 |
|||||
|
Telephone Expense |
6 88 |
|||||
|
Utilities Expense |
690 |
|||||
|
Income Summary |
901 |
BUSINESS PAPERS
Business Paper No.
1
Colorado Bank
Member F.D.I.C.
Member F.D.I.C.
Coin
Currency
Checks
K. Gregg
890
Cogg Hill Camping Equipment Industrial Boulevard
Denver, Colorado 77
78
7
June 1,
,
20
XX
Total
00
000156
1
334
567
80 09878
Duplicate Deposit Ticket
Business Paper No. 2
Inter-Office Memo
From
Date
Samuel Stephens
June 1,
20XX
To
Subject
Petty Cash Fund
Establish a petty cash fund in the amount of $
100
and issue the check to me.
Note: The check to Mr. Samuel Stephens has been completed and is in the checkbook, but the check has not been recorded.
Business Paper No. 3
|
Date |
||||||||||||||||||
| Samuel Stephens |
June 2, 20XX |
|||||||||||||||||
| Cash Disbursements |
Please prepare a check to Zappo for $1,500 as partial payment on a credit purchase made on
May
15, terms 2/10,
n/30
.
Business Paper No.
4
|
Invoice # Z 68002 |
Purchase Invoice |
|||||||||||||||||
|
Zappo Corporation |
||||||||||||||||||
| June 2, | 20XX | |||||||||||||||||
|
Sold To: |
||||||||||||||||||
|
Cogg Hill Camping Company |
||||||||||||||||||
|
Industrial Blvd. |
||||||||||||||||||
|
Denver, Colorado, 77787 |
Customer Order No.
CHP4580
Our Order No.
68002
Date Delivered
6/2/20XX
Shipped
Our Truck
Terms
2/10,n/60
Quantity
Description
Unit Price
Amount
Ordered
Shipped
12
Down jackets #1378 S/4, M/5, L/5
14
4
1,732
6
6
Rain Ponchos #435 – one size
2
26
8
Hiking boots $
177
– M assorted sizes
72
578
00
Total
2,
539
Customer’s Copy
Business Paper No. 5
|
Invoice # S 4563 |
|
|
Samson Distributors |
|
|
Customer Order No.
CHP4581 |
Our Order No.
4563 |
Date Shipped 6/2/20XX |
Shipped
Our Truck |
Terms
n/30 |
||||||||||||||||
| 2 |
Large Tent V- 135 |
825 |
1,650 |
|||||||||||||||||
Bookkeeper’s Copy
Business Paper No. 6
Invoice # R4
52
0
Rental Invoice
COGG HILL
Date
June 5,
20XX
Rented To:
Mr.
A. Smith
1073 Broadway
Rocky Springs, Colorado, 76660
Length of Rental:
Day(s)
Week(s)
AS1010
R4
520
6/7/20XX
Delivered Via
Customer
Pickup
Terms
n/30
Quantity
Description
Unit Price
Amount
Ordered
Shipped
4
Large tents
00
540
00
10
Large Canteens w/covers and belts
00
620
00
Total
1,160
00
Bookkeeper’s Copy
Business Paper No. 7
|
Invoice # S6905 |
Sales Invoice |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Mr. S. Peeples |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
45 Canada Lane |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
St. James, Colorado, 75127 |
SP1045
S6905
Date Delivered
6/7/20XX
Delivered
Customer
Pickup
Terms
n/30
Quantity
Description
Unit Price
Amount
Ordered
Shipped
5
Down
Jackets
296
00
1,
48
0
00
3
Tents
525
00
1,575
00
3
Hammocks
71
25
213
Total
3,055
00
Bookkeeper’s Copy
Cost of goods sold: $1,448.60
Business Paper No. 8
|
June 5, 20XX |
Please prepare a check payable to Rocky Heights Camping for an advertisement that will appear in 4 weekly issues of its magazine, this month. Cost of the 4 advertisements is $400 total.
Business Paper No. 9
|
June 6, 20XX |
Please prepare a check payable to Mountain Streams Mortgage Company for $3,200, which includes interest of $1,200 accrued on the note at the end of May, plus $2,000 payment on principal. The payments of principal, plus interest of the previous month, are due on the first of every month. Mountain Streams allows a 10-day grace period for payment.
Note: Use two lines in the Cash Disbursements Journal to record this transaction.
Business Paper No. 10
|
Invoice # S6906 |
|
|
June 8, |
|
|
Mr. J. Still |
|
|
22 31 After Place |
|
|
St. James, Colorado 75127 |
|
Customer Order No.
JS2034 |
Our Order No.
S6906 |
Date Shipped
6/8/20XX |
Delivered
Customer Pickup |
||||||||||||||||
| 30 |
Sleeping bags |
95 | 50 |
2, 86 5 |
|||||||||||||||
|
#919 Canteens/covers |
300 |
||||||||||||||||||
|
3,165 |
Bookkeeper’s Copy
Business Paper No. 11
|
Invoice # S6907 |
|
|
Mrs. H. Holmes |
|
|
4637 Alpine Way |
|
|
Vail, Colorado, 7 532 1 |
|
Customer Order No.
HH 345 1 |
Our Order No.
S6907 |
Date Shipped
6/7/20XX |
Delivered
Our Truck |
|||||||||||||||||||||||||||||
| 4 |
97 |
40 |
389 |
60 | ||||||||||||||||||||||||||||
|
Hiking boots, assorted sizes |
78 |
315 |
80 | |||||||||||||||||||||||||||||
|
705 |
Bookkeeper’s Copy
Business Paper No. 12
Colorado Bank
Member F.D.I.C.
Coin
2
30
Currency
3,100
00
Checks
H. Holmes
00
Cogg Hill Camping Equipment Industrial Boulevard
Denver, Colorado 77787
S. Peeples
655
00
A. Smith
1,000
00
June 9,
, 20
Total
6,453
30
000156
1
33456780 09878
Duplicate Deposit Ticket
Bookkeeper: The Cost of Cash Sales was $1,213.50
Business Paper No. 13
|
June 9, 20XX |
Please prepare one check to Zappo Corporation for payment of the following invoices:
Invoice Z68350 (Balance of May 15)
$1,000.00
Invoice Z68002, dated
June
2
$
2,539
.10
Be sure to review credit terms. We want to stay in good standing with Zappo.
Business Paper No. 14
|
Replenish Petty Cash Fund |
Please prepare a check to me for replenishment of the petty cash fund.
Petty Cash Voucher #1
Office Supplies
$23.45
Petty Cash Voucher #2
Transportation-in
$56.30
Business Paper No. 15
Invoice # R4
521
Rental Invoice
COGG HILL
Date
June 11,
20XX
Rented To:
K. Gragg
P.O. Box 1560
Colorado Springs, Colorado 73452
Length of Rental
day(s)
2
week(s)
|
Customer Order No.
KG2034 |
Our Order No.
R4521 |
Date Delivered
6/11/20XX |
||||||||||||||||
| 6 |
Type B Group of Camping Equipment |
540 |
3,240 |
|||||||||||||||
Bookkeeper’s Copy
Business Paper No. 16
|
Invoice # S6908 |
||
|
June 12, |
|
Customer Order No.
HH3452 |
Our Order No.
S6908 |
Date Delivered
6/12/20XX |
||||||
|
Ground Cloth |
24 | 45 | ||||||
|
Two-burner stove |
88 | 177 | ||||||
|
274 |
Bookkeeper’s Copy
Business Paper No. 17
|
Invoice # F345-2 |
|||
|
Fulton Incorporated |
|||
|
Sold to: |
|||
|
Denver, Colorado 77787 |
|
Customer Order No.
CHP4582 |
Our Order No.
F345-2 |
Date Shipped
6/12/20XX |
Shipped Our Truck |
Terms
2/10, n/60 |
|||||
|
Shovel-back pack |
|||||||||
|
Hatchets, assorted colors |
18 |
216 |
|||||||
|
Hammocks-large |
52 |
317 |
70 | ||||||
|
Igloo ice chests – 4 gallon |
26 |
131 |
|||||||
|
767 |
85 |
Bookkeeper: This purchase is for Camping Rental Equipment.
Business Paper No. 18
|
Invoice # DC50-45 |
|
Customer Order No.
CHP4583 |
Our Order No.
DC50-45 |
Date Shipped
6/13/20XX |
||||||
|
Igloo Thermos – 1 gallon |
13 | |||||||
|
Klondike Cooking Kits |
42 |
254 |
||||||
| 8 |
Alaskan knives |
16 |
129 |
|||||
| 14 |
Nylon rope |
185 |
||||||
|
647 |
Business Paper No. 19
Colorado Bank
Member F.D.I.C.
|
2,985 |
||
|
P. Davis |
2,131 |
|
|
Cogg Hill Camping Equipment Industrial Boulevard Denver, Colorado 77787 |
275 | |
|
J. Still |
4,845 | |
|
June 15, |
||
|
10,241 |
000156 133456780 09878
Duplicate Deposit Ticket
Bookkeeper: The Cost of Cash Sales was $1,101.30
Business Paper No. 20
|
June 15, 20XX |
Please prepare checks for the following:
|
Invoice Dex65-40, terms n/60 |
$1,117.90 |
|
|
Invoice DC50-31, no discount |
$ 817.40 |
|
|
Robinson Company |
Invoice dated May 15, terms 2/10, 1/30, n/60 |
$1,942.05 |
|
Technical Corporation |
Invoice dated May 20, terms n/30 |
$2,000.00 |
Business Paper No. 21
Please prepare a check to me for replenishment of the petty cash fund.
|
Petty Cash Voucher #3 |
$46.80 |
|
Petty Cash Voucher #4 |
$35.90 |
Business Paper No. 22
|
Invoice # S6909 |
|
June 21, |
|
Mr. P. Davis |
|
P.O. Box 145 67 |
|
Grand Junction, Colorado 7 534 5 |
|
Customer Order No.
PD2034 |
Our Order No.
S6909 |
Date Delivered
6/21/20XX |
|
|
Type C Group of Camping Equipment |
270 |
1,080 |
|
Bookkeeper’s Copy
Cost of goods sold: $516.00
Business Paper No. 23
|
Invoice # S6910 |
|
|
June 22, |
|
|
St. James, Colorado 75127 |
|
Customer Order No.
JS2035 |
Our Order No.
S6910 |
Date Delivered
6/22/20XX |
|
|
489 |
|||
|
Four-burner stove |
145 | ||
|
634 |
Bookkeeper’s Copy
Cost of goods sold: $317.00
Business Paper No. 24
|
Invoice # S6911 |
|
Customer Order No.
SP204 |
Our Order No.
S6911 |
|
122 |
|
| Jackets |
496 |
|
618 |
Bookkeeper’s Copy
Cost of goods sold: $237.80
Business Paper No. 25
|
June 22, 20XX |
Please prepare three (3) checks for the following invoices:
|
Invoice DC50-45, June 13, terms 2/10, n/60 |
$ 647.20 |
|
|
Fulton, Incorporated |
Invoice F296-1, May 23, terms 2/10, n/60 |
$ 108.00 |
|
Invoice F345-2, June 12, terms 2/10, n/60 |
$ 767.85 |
|
|
Invoice S3968, May 23, terms n/30 |
$ 1, 950 .00 |
Business Paper No. 26
| Withdrawal |
Please prepare a check for $3,000, payable to me for my personal use.
Business Paper No. 27
|
Invoice # S6912 |
|
June 25, |
|
Customer Order No.
SP205 |
Our Order No.
S6912 |
Date Delivered
6/25/20XX |
|||
|
Air mattresses |
155 |
||||
|
Polyethylene tarp |
19 |
192 |
|||
|
5 sets |
5 sets |
Tent stakes |
31 | 55 |
157 |
| 21 | |||||
Bookkeeper’s Copy
Cost of goods sold: $225.00
Business Paper No. 28
Invoice # R4
522
Rental Invoice
COGG HILL
Date
June 26,
20XX
Rented To:
1073 Broadway
Rocky Springs, Colorado, 76660
Length of Rental:
Day(s)
2
Week(s)
|
Customer Order No.
AS1011 |
Our Order No.
R4522 |
Date Delivered
6/26/20XX |
Delivered Via
Our Truck |
| 2 |
Type A Group Camping Equipment |
720 |
1,440 |
|
Type B Group Camping Equipment |
|||
|
1,980 |
Bookkeeper’s Copy
Business Paper No. 29
|
Invoice # DC50-95 |
|
June 28, |
|
Customer Order No.
CHP4584 |
Our Order No.
DC50-95 |
Date Shipped
6/25/20XX |
|
|
ordered |
shipped |
||
|
169 |
|||
|
#2 Rafts |
48 |
576 |
|
|
Hammocks – small |
36 |
221 |
|
|
Igloo ice chests – 2 gallon |
|||
| 1,150 |
Bookkeeper: This purchase is for Camping Rental Equipment
Business Paper No. 30
|
Invoice # Z69001 |
|||
|
June 27, |
|||
|
Customer Order No.
CHP4585 |
Our Order No.
Z69001 |
Date Shipped
6/26/19XX |
Shipped Via Our Truck |
|
Down Jackets, assorted sizes |
86 | 61 |
866 |
|
Rain ponchos $435 – one size fits all |
457 |
||
|
Hiking boots #245 |
|||
|
1,653 |
Business Paper No. 31
|
June 28, 20XX |
Prepare your payroll check. Salary for the period ended June 28 is $1,680.00
Business Paper No. 32
|
June 30, 20XX |
|||||||||
|
Receipt of notes receivableDisbursements |
Record the receipt of a 60-day, 12% note receivable from Mrs. K. Gragg in settlement of her account receivable.
Business Paper No. 33
Please prepare a check for $95.10 to replenish the petty cash fund for:
|
Petty Cash Voucher #5 |
$34.00 |
|
Petty Cash Voucher #6 |
$42.50 |
|
Petty Cash Voucher #7 |
$18.60 |
Business Paper No. 34
Colorado Bank
Member F.D.I.C.
|
3,645 |
||
|
1,435 |
||
|
Cogg Hill Camping Equipment Industrial Boulevard
Denver, Colorado 77787 |
||
| June 30, | ||
|
8,141 |
000156 133456780 09878
Duplicate Deposit Ticket
Bookkeeper: Cost of cash sales was $1,432.60
Business Paper No. 35
|
Return of Merchandise to vendor |
Record the return of 1 large tent V-135 to Sampson Distributors for $825.00 Sampson’s invoice #S4563, dated June 2, 20XX
Business Paper No. 36
|
Reclassification of camping equipment |
The 12 rafts purchased on June 28 from Dixon Company (Invoice CD50-95) were sold for cash to a rafting company. Remove the value of the rafts ($576) from Camping Rental Equipment and charge it to the Merchandise Inventory account.
Business Paper No. 37
|
Telephone expenses for June |
Please make a check payable to Intermountain Telephone for $825 for the telephone expense for June.
Business Paper No. 38
|
Utilities expense for June |
Please make a check payable to Rocky Pacific Utility for $600 for the utilities (gas and electric) expense for June.
Business Paper No. 39
|
Bank reconciliation |
Use the Cash Receipts Journal, Cash Disbursements Journal, and the June bank statement and the bank reconciliation of May 31, 20XX on the following pages, and prepare the bank reconciliation for June 30, 20XX.
|
COGG HILL CAMPING EQUIPMENT COMPANY |
|||||||
|
Bank Reconciliation |
|||||||
|
May 31, 20XX |
|||||||
|
Balance per ledger, May 31, 20XX |
$ |
567 | 81 | ||||
|
Balance per bank statement, May 28, 20XX |
772 |
||||||
|
Plus Outstanding deposits |
345 | ||||||
|
Less: Outstanding checks |
|||||||
|
No. 581 |
100 | ||||||
|
No. 519 |
450 |
500 | |||||
|
Adjusted Cash Balance, May 31, 20XX |
Colorado Bank
1520 Market Street
Denver, Colorado 77787
Cogg Hill Camping Equipment Company
Statement Date June 30, 20XX
Industrial Blvd.
Business Checking Account
Denver, Colorado 77787
Balance Last
Statement
Deposits
and Debits
Service
Charge
Balance this
Statement
21,772.21
19,930.70
23,703.45
15.00
17,984.46
Check Number
Checks and Other Debits
Date
Deposits
30
518
100.00
30
2,345.80
30
2,450.00
June
2
890.00
5
6,453.30
5
1,500.00
15
10,241.80
6
400.00
523
3,200.00
12
524
3,488.32
13
79.75
19
530
82.70
20
526
1,117.90
21
527
817.40
21
528
1,922.63
25
534
3,000.00
25
532
860.49
26
533
1,950.00
529
2,000.00
28
531
634.26
28
DM
15.00 Check charges
Journals
SALES JOURNAL
Page 6
|
Account Debited |
Invoice No. |
PR |
A/R Dr. Sales Cr. |
A/R Dr. Rental Revenue Cr. |
Cost of Goods Sold Dr./ Inventory Cr. |
|||||||||||
PURCHASES JOURNAL Page 5
|
Date of Invoice |
A/P Cr. |
Inventory Dr. |
Other Accounts Dr. |
CASH RECEIPTS JOURNAL Page 8
|
Account Credited |
Explanation |
Cash |
Debit |
Accounts Receivable |
Credit |
Sales Credit |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CASH DISBURSEMENTS JOURNAL
Page 6
|
Chk. No. |
Payee |
Cash |
Cr. |
Inventory Cr. |
Other Accounts |
Dr. |
Accounts Payable Dr. |
||||||
GENERAL JOURNAL
Page 8
|
Month |
Day |
Account Titles and Explanation | ||||||||||||
GENERAL JOURNAL
Page 9
GENERAL JOURNAL
Page 10
GENERAL JOURNAL
Page 11
GENERAL JOURNAL
Page 12
| Account Number 101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date
Month Day |
Post
Ref. |
Debit |
Balance |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| June |
1 |
Beginning Balance |
21,567.81 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Account Number 102 | Balance | ||||||||||||||||||||
|
00.00 |
| Account Number 106 |
| 11,492.00 |
| Account Number 107 |
|
379.35 |
General Ledger
| Account Number 109 |
|
56.00 |
| Account Number 111 |
|
9,870.40 |
| Account Number 119 |
|
174,985.00 |
| Account Number 124 |
|
557.05 |
General Ledger
| Account Number 125 |
|
324.75 |
| Account Number 128 |
|
650.00 |
| Account Number 163 |
|
17,250.00 |
| Account Number 164 |
|
6,450.00 |
| Account Number 165 |
|
69,500.00 |
General Ledger
| Account Number 166 |
|
22,650.00 |
| Account Number 167 |
|
163,175.15 |
| Accumulated Depreciation – Camping Rental Equip. | Account Number 168 |
|
91,387.00 |
| Account Number 183 |
|
350,000.00 |
| Account Number 184 |
|
121,475.00 |
General Ledger
| Account Number 201 |
| 10,435.35 |
| Account Number 203 |
|
1,200.00 |
| Account Number 209 |
| Mortgage Note Payable | Account Number 251 | |
|
160,000.00 |
General Ledger
| Account Number 301 |
|
405,451.46 |
| Account Number 302 |
| Account Number 406 |
|
Interest Revenue |
Account Number 409 |
General Ledger
| Account Number 413 |
| Account Number 502 |
| Depreciation Expense – Building | Account Number 606 |
| Depreciation Expense – Office Equipment |
Account Number
612 |
General Ledger
| Depreciation Expense – Store Equipment | Account Number 613 |
| Depreciation Expense – Camping Rental Equipment | Account Number 615 |
|
Account Number
622 |
| Account Number 633 |
| Account Number 637 |
General Ledger
| Account Number 650 |
| Account Number 651 |
| Account Number 655 |
| Account Number 656 |
| Account Number 677 |
General Ledger
|
Account Number
688 |
| Account Number 690 |
| Account Number 901 |
Accounts Receivable
Subsidiary Ledger
|
P. Davis |
P.O. Box 14567 |
Grand Junction, Colorado 75345 |
|
DATE |
EXPLANATION |
POST
REF. |
DEBIT |
CREDIT |
BALANCE |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| June |
Beginning Balance |
| K. Gragg |
P.O. Box 1560 |
Colorado Springs, Colorado 73452 |
| H. Holmes | 4637 Alpine Way |
Vail, Colorado 75321 |
| 1 | 696 |
| S. Peeples | 45 Canada Lane |
St. James, Colorado 75127 |
| June |
| A. Smith | 1073 Broadway |
Rock Springs, Colorado 76660 |
| J. Still | 2231 After Place |
| 845 |
Accounts Payable
Subsidiary Ledger
| Dex Company |
Vendor Number D1004 |
| 1 | 117 |
| Dixon Company |
Vendor Number D1025 |
| 817 |
|
Fulton, Inc. |
Vendor Number F1060 |
| 108 |
|
Robinson Company |
Vendor Number R1040 |
| 942 | 05 |
| Samson Distributors |
Vendor Number S1010 |
| 950 |
|
Technical Corporation |
Vendor Number T1020 |
| 000 |
| Zappo Corporation |
Vendor Number Z1025 |
Schedules, Financial Statements, WorkSheet, and Post-Closing Trial Balance
|
Schedule of Accounts Receivable |
|
Schedule of Accounts Payable |
|
COGG HILL CAMPING |
|||||
|
Worksheet for Period |
|||||
|
ACCOUNT NUMBER AND TITLE |
UNADJUSTED Trial Balance |
Adjustments |
|||
|
Allow. For Doubtful Accts. |
|||||
| Accumulated Depreciation | |||||
|
Samuel Stephens, Withdraw. |
|||||
|
Balances Carried Forward |
|
EQUIPMENT COMPANY |
|||||||||||
|
Ended June 30, 20XX |
|||||||||||
|
ADJUSTED TRIAL BALANCE |
INCOME STATEMENT |
BAL. SHEET AND STATEMENT OF OWNER’S EQUITY |
|||||||||
|
DR. |
CR. |
|
Worksheet for Month |
|
Balances Brought Forward |
|
Camping Equip. Rent. Rev. |
|
Deprec. Expense – Building |
|
Deprec. Expense – Office |
|
Deprec. Expense – Store |
|
Deprec. Expense – Camp. Eq. |
|
Net Income for the Period |
EQUIPMENT COMPANY
Ended June 30, 20XX
ADJUSTED
TRIAL BALANCE
INCOME STATEMENT
BAL. SHEET AND STATEMENT OF OWNER’S EQUITY
DR.
CR.
DR.
CR.
DR.
CR.
|
Income Statement |
|
|
For the Month Ended June 30, 20XX |
|
Statement of Owner’s Equity |
|
Balance Sheet |
|
| June 30, 20XX |
|
Post-Closing Trial Balance |
RECEIVED JUNE 4
RECEIVED JUNE 4
COST OF GOODS SOLD: $1,378.75
COST OF GOODS SOLD: $320.00
COST OF GOODS SOLD: $110.65
RECEIVED JUNE 13
RECEIVED JUNE 13
RECEIVED JUNE 28
RECEIVED JUNE 28
81
22,357
00
100
81
22,457
00
890
81
21,567
Petty Cash Fund Est.
�
Samuel Stephens
XX
June 2,
100.00
XX
June 20,
Establish petty cash fund
One Hundred Dollars and no/100
Samuel Stephens
100.00
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 523
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
522
64-10
610
DOLLARS
No. 522
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
521
64-10
610
DOLLARS
No. 521
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
520
64-10
610
DOLLARS
No. 520
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 524
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 527
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 526
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
525
64-10
610
DOLLARS
No. 525
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 530
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 529
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 528
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 531
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
535
64-10
610
DOLLARS
No. 535
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 533
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 534
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
64-10
610
DOLLARS
No. 532
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
539
64-10
610
DOLLARS
No. 539
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
538
64-10
610
DOLLARS
No. 538
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
537
64-10
610
DOLLARS
No. 537
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
536
64-10
610
DOLLARS
No. 536
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
543
64-10
610
DOLLARS
No. 543
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
542
64-10
610
DOLLARS
No. 542
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
541
64-10
610
DOLLARS
No. 541
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
Cogg Hill Camping Equipment Company
PAY TO THE
ORDER OF
$
COLORADO BANK
FOR
Accounting Practice Set
20
540
64-10
610
DOLLARS
No. 540
$
20
PAY TO
FOR
BAL BRO’T FOR’D
(ADD DEPOSITS OR SUBRACT
ANY CHARGES
NEW BALANCE
AM’T THIS CHECK
BAL CAR’D FOR’D
DOLLARS
CENTS
(The McGraw-Hill Companies, Inc., 2007
72
Fundamental Accounting Principles, 18/e
(The McGraw-Hill Companies, Inc., 2007
Cogg Hill Camping Equipment Company Practice Set
73
