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Epinal Mineisy-OP Excel file Est View insert Format Tools Data Window Help Home inn Page Layout Formulas Data Review View A om :! Date Description of the Transaction March 1 Owners of OP invested hasta $55.000 cash to the business. The cash is put into Big Bank of how to do March Pay of the 10.000 Note Payable owed to Little Bank. The copy of the note is taken out of Big Bank. Also pay to Little Bank 5450 for Interest owed on the Note Payable for February The Sechs staken out of Big Back March + Take 55.180 cathor Big Bark to pay for Machent March 2 The customer that purchased on credit on Feb. 15 pays $80.000 cash to pay off mount. The cash in deposited into Bank March 10 let inventory to a customer-seling price $2.500 out of the inventory sold $24.000 The customer pays cash The cash is deposited into Little Bar March 15 T 525.000 cash copy.ployees for wrzes they have some March 16 Purchase 500.000 of satinat inventory OPJ will pay the manufacturer 30% of the 580.000 in 10 days op will pay the retaining 50% in 30 days March 17 Sale of inventory to a customer-selling price $125.000 - cost of the inventory sold 530.000 The customer will pay for the purchasin diye March 20 Sale at inventory to a customer - soling ce $170.500 - coat of the inventory solo $37.500 The customer pays $25.500 cash that is deposited into Little Bark. The customer will pay the remaining amour days March 22 Puchas inventory for $44.000 cash The cash list of ark March 26 Puy the maracter the 50% on the March 18th purchase of inventory. The cash it out of Big Bank March 30 Take 533,250 hout of Little Bank to pay employees for was they have earned Chan Acte JO OLA GL Rev. Tral W 7 2 3 s 4 5 6 7 8 W E R. T Y U Excel File Edit View Insert Format Tools Data Window Help Espinal Mineoyou Insert Draw Home Page Layout Formulas Data Review View wie 02 :X Over Priced Jeans, Inc. - Chart of Accounts Account 100 105 Account Name Assets Cash-Big Bank Cash-Utte Bank Accounts Receivable Inventory Equipment 200 210 215 220 225 Liabilities: Accounts Payable Note Payable - Big Bank Note Payable Late Bank Interest Payable Big Bank Interest Payable Late Bank 300 305 Equity Common Stock Retained Earnings Ravenues Sales Revue 400 500 510 515 520 Expenses Cont of Goods Sold Rent Experte Wages Expense Interest Expense Chart UOL Ants OLLAB-Equity GL Rew Exp Trial Bol tv w 2 $ 4 3 018 6 7 8 W E R T Y Espina Minely OPU Excel F Edit View insert Format Tools Data Window Help niert Page Layout Formulas Data Review View AA fx Notes Payable Little Bank OverPriced Jeans, Inc. - General Journal Page 1 Credit 2021 wwwy Powd X x Debit 55,000.00 Account Name Cash-Bo Bank Common Stock se additional Common Stock 100 300 55,000.00 31 215 Notes Payabile Bank GL Berp Twel & RE stv SE $ 4 2 3 5 6 7 8 W E R . Y Excel Vert Format To Date Window D Dula was MALE Over Priced Jeans in General Ledger CAUTION Entheon tylyingine wants De NOT the Gonne Cash-bigan ADOR 100 2001 Cred! Dett 76.000.00 56.000.00 B 76.000.000 131 000 000 31 A 105 Cash-Lite Bank 2001 Gna Dubi 2700000 alance 27.000.000 31 Account 110 Accounts Receivable GLIDE Leve RE Gate 7 2 3 $ 4 5 & 7 6 8 g 0 Q W E R. T Y Excel Tief Vert Format Tools Date Window Hep Elinel ONU Q Draw Page Layou Formas Data View CO MITTEL Overpriced Jeans, Inc - General Ledger CAUTION Error amounts on account by yong in the Account 400 Sales Revenue Do NOT copy from General the accounts 2021 F. Duit Credit Balance 0.000 0.00 ADR 500 Cost of Goods Sold 2321 3-1 . Crede Dengan Dubit 0.00 0.000 Accu 510 Rent Expense Anda OLLEY MARE $ 2 3 4 5 6 7 8 W E R T Y U 1 S D F G . J K EXCHF Verwent Format Tools Date Window Map ABU Page Lay Fm Data Review View Druiraivinaiyaar Futte VEL OP. March 31, 2021 Pre-Closing Trallalance CAUTION Exam Pre- Owne tytogen DO NOT Debat Acc Name Chan CB Accurs rent Recounts Paya Account 100 100 110 12 150 200 210 215 220 223 300 300 400 500 510 Note Pay-Ban Pedag Seven coe Gods Cape Women 320 Totals 0.00 0.00 GLAGLE OLMERE Qw 2 3 4 5 6 7 8 9 W E R T Y U 0 A S D. F G H . Excele Edit View in Form To's Duta Window Heb AGU Draw Page Layout Families Data Review View pa Misyonu Ovar Priced Jeans, Inc. Income Statement for the Mont Ended March 31, 2024 SAUTION Emotional Sons by the DO NOT consume General Ledger cong Tal Balance Cost of Goods Gross Prote pene ber Total Net Income 0.00 1000 Choof Retained Earrings of March 31 for the Balance Sheet Curace Pu Masha Ruanda Marcha force GLA LE OGLE Trio tv 7 2 3 S 4 5 6 & 7 8 9 W E R T Y U o S F G . J K K Del Fre view met Farrut To Window Espanyol Home Draw Page Layout Formulas View De WRE Over Priced Jeans, Inc. Balance Sheet as od March 11.2001 CAUTION Entramos entong sa DO NOT you from Geo-Congrie Aut Cash- Cash-Lite Accounts Rece wy Total Liabilities Accounts Melayak Nole PayLine Band What we are Total Liabi 0.00 Laulty Commons Total Equity Total Labs & Equity 31.00 OLA TH otv F: 7 2 3 4 5 6 7 8 3 W E R T Y S D F G Excelled wit Format Toolt Wien A.GE art Den Page Layout formes Data View EMOM an f OP) March 22 Post-Closing The Balance GAV LION Decling rally Do NOT will Acc Name Debit Acco 100 Casa Acco 110 120 150 200 210 21 220 221 300 205 430 LO A Payabi Paster Note Bara West Page Pat Bone Coro Rod Cage w Co of Good Porto Wo Expo E por Totals 550 395 520 2.00 0.00 OLAGE GL RASA Otv $ 4 2 3 5 6 7 8 9 W E R T Y S D F G H J K. A- Wrap Text Merge & Conter BIU Con Yan Date Description of the Transaction March 1 Owners of OPJ invested an additional $55,000 cash into the business. The cash is put into Big Bank. (As an example of how to Journalo and post a transaction - this transaction has already been entered into the General Journal and posted to the General Led) March 1 Pay off the $60,000 Note Payable owed to Little Bank. The cash to pay off the note is taken out of Big Bank. Also pay to Little Bank $450 for interest owed on the Note Payable for February The $450 cash is also taken out of Big Bank March 1 Take $5,150 cash out of Big Bank to pay for March's rent. March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due. The cash is deposited into Big Bank March 10 Sale of inventory to a customer-selling price $82,500 -- cost of the inventory sold $24,000. The customer pays cash. The cash is deposited into Little Bank March 15 Tako $25,000 cash out of Little Bank to pay employees for wages they have samed March 16 Purchase $80,000 of additional inventory. OPJ will pay the manufacturer 50% of the $69,000 in 10 days. OPJ will pay the remaining 50% in 30 days March 17 Sale of inventory to a customer-selling price $123,000 - cost of the inventory sold $38.000 The customer will pay for the purchase in 30 days. March 20 Sale of inventory to a customer-selling price $178,500 - cost of the inventory sold $37.500 The customer pays $25,500 cash that is deposited into Little Bank. The customer will pay the remaining amount in 30 days March 22 Purchase inventory for $44.000 cash. The cash is taken out of Big Bank March 28 Pay the manufacturer the 50% due on the March 16th purchase of inventory. The cash is taken out of Big Bank March 30 Take$33.250 cash out of the Bank to pay employees for wages they have comed. Journal GL Assets GL Lab-Equity GL Rev Exp Tral Bal tv A W S % 2 3 4 B 1 Merge & Center x fe Overpriced Jeans, Inc. - Chart of Accounts Account # Account Name 100 105 110 120 150 Assets: Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment 200 210 215 220 225 Liabilities: Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable - Big Bank Interest Payable - Little Bank 300 305 Equity: Common Stock Retained Earnings 400 Revenues: Sales Revenue 500 510 515 520 Expenses: Cost of Goods Sold Rent Expense Wages Expense Interest Expense Directions Chai Acets Journal GL Assets GL Liab-Equity Ready etv s Excel 2 Espinal Mineisy-OPJ Formulas Data Page Layout Review View Draw Home A- AV Wap Text B A Morge & Center fc Notes Payable Little Bank OverPriced Jeans, Inc. General Journal Page # 1 Account Name Posted Credit 2021 Month-Day 3-1 Account Number 100 300 Debit 55,000.00 Cash - Big Bank Common Stock Issue additional Common Stock X 55,000.00 3-1 215 Notes Payable Little Bank Tran Chart Acta Journal A GLAS GL Lab Equity GL Rov-END stv view ser File Edit B6 Insert Draw 2. Espinal Mineisy-OPJ Page Layout Formulas Data Review View - GA- A+ W Text 3 1 - Merge Center F MINEISY ESPINAL OverPriced Jeans, Inc. - General Ledger CAUTIO Enter amounts into by typing in the amo Do NOT copy colls fr General Journal into accounts Account # 100 Cash - Big Bank Journal Page Credit Balance 2021 Month Day 3-1 3-1 Beginning Balance Debit 76,000.00 55,000.00 76,000.00 Dr 131,000.00 DE 1 Account # 105 Cash - Little Bank 2021 Month Day Journal Pagad Credit Balance Debit 27,000.00 Beginning Balance 27,000.00 Dr Account 110 Accounts Receivable Tr Journal GL Lab Equity GL Hov-Exp Trial tv 896 FA 8 Espinal Mineisy-OPJ Excel Fe Edit View Insert Format Tools Data Window Help @ @ Insert Draw Page Layout Formulas Data Review View ALA Wran Teut Merge Center Condition MNEISY ESPINAL OverPriced Jeans, Inc. General Ledger GAUTION Enter amounts into the by typing in the amounts Do NOT copy cells from the General Journal into the Account #200 Accounts Payable Journal Page 1 Debit 2021 Mon Day 3.1 Credit Balance 0.00 0.00 Beginning Balance Account # 210 Note Payable - Big Bank Journal Pages Debit 2021 onay 3-1 Credit Balance 65,000.00 Beginning Balance 65,000.00 Account # 215 Note Payable - Little Bank 2021 Debit Credit 60,000.00 Balance 60,000.00 C 3-1 Beginning Balance Account 220 Interest Payable. Big Bank Journal tone OLA GL Rev Exp TH Tal aty w 888 8 2 3 4 5 6 8 Excel File Edit View Insert Format Tools Data Window Help BU Home Insert Draw Page Layout Formulas Data Review View Espinal Mineisy-OPJ WTO Marge Center 3. Condi Pirm 10 x x MENEISY ESPINAL Over Priced Jeans, Inc. - General Ledger CAUTION Enter amounts into the account by typing in the amounts Do NOT copy cells from the General Journal into the accoun Account 400 Sales Revenue 2021 Mohay Journal Page Debit Beginning Balance Credit 0.00 Balance 0.00 C Account # 500 Cost of Goods Sold 2021 Monchos 3-1 Debit Credit Beginning Balance 0.00 Balance 0.00 Or Account W 510 Rent Expense JON GLAS OL Lab Equity dy TEM atv w C Excel File Edit View insert Format Tools Data Window Help ABU Home Insert Draw Page Layout Formulas Data Review View D Espinal Mineisy-OP Wrop Test Pita B Merge & Center E6 MINEISY ESPINAL OPJ's - March 31, 2021 Pre-Closing Trial Balance CAUTION Enter amounts into the Pre-Closing Trial Balance Do NOT copy coils from the General Ledger Debit Credit Account 100 105 110 120 150 200 210 215 220 225 300 305 400 500 510 515 520 Account Name Cash - Big Bank Cash- Accounts Receivable Inventory Equipment Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable. Big Bank Interest Payable - Little Bank Common Stock Retained Eamings Sales Revenue Cost of Goods Sold Rent Expense Wages Exponse Interest Expense Totals 0.00 0.00 Chart Aceh Journal GL Assets OL Lib-liquity GL RevExp 67 tv so 688 Data Insert Format Tools Excel File Edit View Window Help Espino Mineisy-OPJ Draw Home Insert Page Layout Data Formulas Review View A A- AT Wrap Test A Paste Merge & Center D6 MINEISY ESPINAL Over Priced Jeans, Inc. Income Statement for the Month Ended March 31, 2021 CAUTION Enter amounts into the Financial Statements by typing in the amounts Do NOT copy cells from the General Ledger of Pre-Closing Trial Balance Sales Revenue Cost of Goods Sold Gross Profit 0.00 Expenses Rent Expense Wages Expense Interest Expense Total Expenses Net Income 0.00 $0.00 Calculation of Retained Earnings as of March 31 for the Balance Sheet Retained Earings Current Balance Plus March Net income Retained Earnings as of March 31 for Balance Sheet 0.00 Trans Chart A Journal GL Assets GL Lieb-Equity GL Rev.EXE atv Formulas Data Review View Home Insert Page Layout Draw A- Wrap Text A Merge & Center u Paste B 1 fx 3 MINEISY ESPINAL OverPriced Jeans, Inc. Balance Sheet as of March 31, 2021 CAUTION Enter amounts into the Balance Sheet by typin Do NOT copy cells from the General Ledger Assets Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment Total Assets $0.00 Llabilities Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable - Big Bank Interest Payable - Little Bank Total Liabilities 0.00 Equity Common Stock Retained Earnings Total Equity 0.00 Total Liabilities & Equity $0.00 Direction Tran Chart Acts Journal GL Assets GL Liab-Equity tv Tools Format Data Window Help 2 Espinal Mineis Excel File Edit View Insert o Home Insert Draw Page Layout Formulas Data Review View A- AT ST) Wrap Text . - Merge & Center B 1 x v fx MINEISY ESPINAL OPJ's - March 31, 2021 Post-Closing Trial Balance Enter amounts into the Do NOT copy cells from Account Name Debit Credit Account 100 105 110 120 150 200 210 215 220 225 300 305 400 500 510 515 520 Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable - Big Bank Interest Payable - Little Bank Common Stock Retained Earings Sales Revenue Cost of Goods Sold Rent Expense Wages Expense Interest Expense Totals 0.00 0.00 Diction Chart Accts Journal OL Assets GL Liab Equity C ty

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