Complete theGeneral JournalGeneral LedgerTrial Balanceon a file that already has the existing information
acc_project_101.xlsx
Unformatted Attachment Preview
Accounting Project
Name:
Institutional Affiliation:
Date
Rani’s World Food
9/25/2019
Accounting 101
Company Brief:
The selected grocery store for this project is Rani’s world Food.
The gourmet grocery store is located in Las Vegas in the United Stated
and it operates as a restaurant.
Account Title
Cash
Accounts Receivable
Supplies
Merchandise inventory
Equipment
Accumulated Depreciation
Accounts Payable
Interest payable
Unearned revenue
Note payable
Paid-in capital
Common stock
Revenue
Supplies expense
Equipment repair expense
Wages expense
Truck rental expense
Advertising expense
Depreciation expense
Interest expense
Dividends
TOTAL
Debit
Credit
70,025
35,900
11,225
12,500
84,000
2,400
2,930
115
48,000
35,000
38,250
58,000
75,525
5,825
430
22,850
500
3,450
2,400
115
11,000
260,220 260,220
List of transactions for the month of July.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1-Jul
1-Jul
1-Jul
1-Jul
2-Jul
2-Jul
3-Jul
5-Jul
6-Jul
7-Jul
8-Jul
9-Jul
10-Jul
12-Jul
14-Jul
15-Jul
15-Jul
17-Jul
19-Jul
20-Jul
21-Jul
23-Jul
25-Jul
27-Jul
27-Jul
28-Jul
30-Jul
31-Jul
31-Jul
31-Jul
Contributed $38,250 into the business by depositing a cheque into the business account
Borrowed $35,000 from key bank by signing a 24-month note with a 4% annual interest rate.
Received $58,000 cash from new investors and issued $58,000 no-par value common stock to them.
Purchase $84,000 of new equipment and paid cash.
Pay 500 for July truck rental
Sold products for $3,500 in cash.
invoice customer A $900 for outside catering service completed — customer will pay in 10 days.
the board of directors declared a cash divdiend of $11,000, to be paid on 7/31.
Purchase merchandise inventory on account amounting to $12,500
Paid employee $6,000 for works performed during the first week of July.
Paid $3,450 for advertising expenses.
Paid $10,000 in cash for the merchandise purchased on account
Sold grocery products to a new customer– customer B. Customer paid $500 in cash.
Received $3,500 for a corporate catering service.
Paid employee $4,800 for works performed during the first week of July.
Purchased $50 of supplies on account. Supplies are consumed immediately.
Collected $900 for service performed on 7/3.
Incurred $430 cost for repairing am equipment. Rani’s world Food will pay in 30 days.
Purchased $17,000 of supplies, which will be consumed over the next 12 months.
The grocery store recorded revenue of $30,000 in cash from products sold during the month.
Paid employees $5,750 for work performed during the 3rd week of July.
Receive advanced $48,000 payment from an organization which plans to hold a conference for two weeks, beginning August 1.
Completed corporate food service. The total price is $3,900. The customer paid $1,000 cash and will pay the remaining on august 25.
Sold products to customer D. Customer paid $225 cash.
Paid $50 for the supplies purchased on 7/15
Pay the employees $6300 for work performed during the 4th week of july.
Supplies expense for the month amounted to $5,775.
The depreciation expense was estimated to be $2,400
Invoiced a customer E $33,000 for service completed — customer will pay in 20 days.
Pay the cash dividend which was declared on 7/5.
Assets
100 Cash
110 Accounts Receivable
120 Inventories
130 Office Supplies
140 Land
150 Building
160 Furniture
170 Computers
180 Delivery Truck
Liabilities
200 Accounts Payable
210 Notes Payable
Equity
300 Common stock
Revenue
400 Sales
Expense
510 Utilities
520 Salaries
530 Advertising
550 Insurance
…
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