Acg Final With Out Tables

General Journal
DATE
12/01/2014
ACCOUNT NUMBERS AND NAMES

100 - Cash and Cash Equivalents
300 - Common Stock
302 - Add'l Paid in Capital
DEBITS
$
CREDITS
36,000.00
$
$
60.00
35,940.00
Sale of 60 shares of stock, for $600 per share
12/03/2014
154 - Displays and Equipment

1,834.92
$
1,834.92
Purchased Jewelry Repair Equipment
12/04/2014
210 - Credit Card Payable

412.63
$
412.63
214.96
14,515.63
13,618.07
$
$
$
19,247.23
6,568.04
3,249.50
$
$
9,800.00
200.00
18,700.00
58.77
Paid Credit Card Bill
12/05/2014
620 Utilities Expense

200 - Accounts Payable
214.96
Received Utility Bill - Effciency Eletric Co.
12/05/2014
202 - Salaries Payable

14,515.63
Payment of Accrued Salaries to Employees
12/05/2014

13,618.07
Completed Payment to Gold Galore
12/06/2014
106 - Accounts Receivable

602 - Cost of Goods Sold
500 Product Sales Revenue
110 Standard Inventory
112 Custom Inventory
$
$
19,247.23
9,817.54
Sold Four Custom Rings and 4.1 Ounces of Standard Gold Bands - Wedding Warehouse
12/07/2014

520 - Sales Disc Forfeited
10,000.00
Partial Payment fromJammin' Jewels from Dec. 2nd
12/08/2014
660 - Miscellaneous Losses

112 - Custom Inventory
$
$
10,094.25
8,605.75
Damaged Merchandise From Chemical Spill
12/08/2014
606 - Fuel Expense

58.77
Gas for Company Car
Prepared by Ethan, Rebekah, Timothy, and Olena
Page 1 of 7
General Journal
DATE
12/09/2014

212 Unearned Revenues
DEBITS
CREDITS
1,500.00
$
1,500.00
$
$
2,658.90
2,658.90
14,685.12
7,500.85
214.96
$
$
2,177.96
43.56
6,205.00
975.66
3,675.91
88.48
Deposit for Custom Diamond Engagment Ring Layaway
12/10/2014

108 - Allowance for Dtfl Accnts
$
$
2,658.90
2,658.90
Received payment from Magical Moments - Previously Written off as Uncollectible
12/10/2014
110 Standard Inventory

112 Custom Inventory
$
$
5,451.27
9,233.85
Purchased Six Custom Rings and 3.4 Ounces of Standard Gold Bands - Rings & Things
12/11/2014

7,500.85
Precious Predictions Payable
12/12/2014

214.96
Paid Efficiency Electric Co.
12/12/2014

2,177.96
Partial Payment from Wedding Warehouse from Dec 2nd
12/15/2014
204 Payroll Taxes Payable

6,205.00
Payroll Taxes
12/15/2014
206 Sales Taxes Payable

975.66
Sales Taxes
12/16/2014

502 Repair / Svc Revenue
3,675.91
Jewerly Repair Services
12/16/2014
116 - Supplies
88.48
Purchased Inventory - Chips Clipz.
12/16/2014

602 - Cost of Goods Sold
212 - Unearned Revenue
$
$
$
894.92
725.80
400.00
Page 2 of 7
General Journal
DATE
DEBITS
206 - Sales Tax Payable

112 - Custom Inventory
500 - Product Sales Revenue
CREDITS
$
$
$
95.92
725.80
1,199.00
5,991.08
Sold Custom Diamond Pendanton Deposit
12/16/2014

5,991.08
Unrecorded Jewelry Repair Services as of Dec 16th - Pete's Pawn & Bringing Back the Bling
12/18/2014
100 - Cash
602 - Cost
110
206
500
and Cash Equivalents

of Goods Sold
Standard Inventory
- Sales Tax Payable
- Product Sales Revenue
$
$
1,078.92
640.84
$
$
$
640.84
79.92
999.00
Sold .4 Ounces of Standard Gold - 8% Sales Tax
Page 3 of 7
General Journal
DATE
12/19/2014
606 - Fuel Expense

DEBITS
CREDITS
61.12
$
61.12
46.21
$
$
4,464.04
54.31
31,306.00
$
$
1,335.05
164.95
4,800.00
33,000.00
13,000.00
Gas for Company Car
12/19/2014
614 Repair & Maint Expense

46.21
Oil Change - Company Car
12/23/2014

4,464.04
Payment from Pete's Pawn - Settle Account in Full
12/23/2014
102 Investments
31,306.00
Purchase of 2200 shares of stock, for $14.23 per share
12/24/2014
212 Unearned Revenues

506 Restocking Fee Revenue
1,500.00
Received Returned Ring from Dec 9th Sale
12/28/2014
114 - Prepaid Expense

4,800.00
Prepaid Rent for Jan 1st - Mar 31st 2015
12/29/2014
400 Cash Dividends

214 Dividends Payable
33,000.00
Dividends - 660 shares of stock for $50 per share
12/31/2014
308 Treasury Stock

13,000.00
Reperchase of 20 shares of stock for $650 per share
Page 4 of 7
General Journal
DATE
12/31/2014

DEBITS
CREDITS
2,445.58
$
2,445.58
$
$
15,002.88
6,648.00
1,945.30
18,600.00
603.31
1,362.97
280.00
890.69
Unrecorded Jewelry Repair Services as of Dec 31st
12/31/2014
616 Salaries Expense
21,650.88
202 - Salaries Payable

204 Payroll Taxes Payable
Payroll Expenses
12/31/2014
1,945.30

Unrecorded Jewelry Repair Services as of Dec 31st - Bringing Back the Bling
12/31/2014
AJE 1
612 - Rent Expense
18,600.00
114 - Prepaid Expense

Prepaid Rent Used Up - Dec 31st
12/31/2014
AJE 2
618 Supplies Expense

116 - Supplies
603.31
Supplies Used Up - Dec 31st
12/31/2014
AJE 3

1,362.97
Sales Discount Forfeited
12/31/2014
AJE 4
610 - Interest Expense

222 - Prem on Notes Payable
208 - Interest Payable
$
$
213.03
66.97
Amortization on Effective Interest Method -Three Year Serial Bond
12/31/2014
AJE 5
600 - Bad Debts Expense

108 - Allowance for Dtfl Accnts
890.69
Allowance for Doubtful Accounts - Aging Recivables
Page 5 of 7
General Journal
DATE
12/31/2014
AJE 6

218 Purchase Commitment Obligation
DEBITS
CREDITS
407.40
$
407.40
4,767.36
4,103.27
2,962.19
4,802.70
34.40
500.00
858.00
50,882.00
804,192.48
$
$
$
890.69
11,867.22
2,095.55
Purchase Commitment @ $1622.84 per ounce
12/31/2014
AJE 7
604 - Depreciation Expense

164 Accum Deprec D and E
4,767.36
Depreciation of Displays and Equipment 2014
12/31/2014
AJE 8

166 Accum Deprec - Vehicles
4,103.27
Depreciation of Vehicle 2014
12/31/2014
AJE 9

162 Accum Deprec Buildings
2,962.19
Depreciation of Building 2014
12/31/2014
AJE 10

162 Accum Deprec Buildings
4,802.70
Impairment of Building 2014
12/31/2014
AJE 11

164 Accum Deprec D and E
34.40
Depreciation of Displays and Equipment Partial Year
12/31/2014
AJE 12
670 OCI Gains / Losses

104 Investment FMV Adjustments
500.00
Loss on investment - October 25th 2014
12/31/2014
AJE 13
104 Investment FMV Adjustments

650 Miscellaneous Gains
858.00
Gain on Dividends - Savory Sales Corp.
12/31/2014
AJE 14
608 Income Tax Expense

216 Income Taxes Payable
50,882.00
Income Taxes 2014 - 30% of $169,606.65
12/31/2014
CJE 1
500
502
504
506
Product Sales Revenue

Repair / Svc Revenue
Interest Revenue
Restocking Fee Revenue
700 - Income Summary
$
$
$
$
704,905.15
98,501.62
42.11
743.60
Closing Entries - Revenues 2014
12/31/2014
CJE 2
700 - Income
600 604 606 -
Summary
Bad Debts Expense
Depreciation Expense
Fuel Expense
275,134.05
Page 6 of 7
General Journal
DATE

610
612
614
616
618
620
DEBITS
Interest Expense
Rent Expense
Repair & Maint Expense
Salaries Expense
Supplies Expense
Utilities Expense
CREDITS
$
$
$
$
$
$
534.03
18,600.00
867.26
237,295.73
603.31
2,380.26
529,058.43
33,000.00
Closing Entries - Expenses 2014
12/31/2014
CJE 3
700 - Income Summary

304 - Retained Earnings
529,058.43
Closing Entries - Income Summary 2014
12/31/2014
CJE 4
304 - Retained Earnings

400 Cash Dividends
33,000.00
Closing Entries - Dividends 2014
Page 7 of 7

Acg Final With Out Tables

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General Journal

ACCOUNT NUMBERS AND NAMES

Sale of 60 shares of stock, for $600 per share

154 - Displays and Equipment

Purchased Jewelry Repair Equipment

210 - Credit Card Payable

Paid Credit Card Bill

620 Utilities Expense

Received Utility Bill - Effciency Eletric Co.

202 - Salaries Payable

Payment of Accrued Salaries to Employees

200 - Accounts Payable

Completed Payment to Gold Galore

106 - Accounts Receivable

100 - Cash and Cash Equivalents

Partial Payment fromJammin' Jewels from Dec. 2nd

660 - Miscellaneous Losses

Damaged Merchandise From Chemical Spill

606 - Fuel Expense

Gas for Company Car

Prepared by Ethan, Rebekah, Timothy, and Olena

ACCOUNT NUMBERS AND NAMES

100 - Cash and Cash Equivalents

Deposit for Custom Diamond Engagment Ring Layaway

106 - Accounts Receivable

Received payment from Magical Moments - Previously Written off as Uncollectible

110 Standard Inventory

200 - Accounts Payable

Precious Predictions Payable

200 - Accounts Payable

Paid Efficiency Electric Co.

100 - Cash and Cash Equivalents

Partial Payment from Wedding Warehouse from Dec 2nd

204 Payroll Taxes Payable

206 Sales Taxes Payable

100 - Cash and Cash Equivalents

Jewerly Repair Services

Purchased Inventory - Chips Clipz.

100 - Cash and Cash Equivalents

Prepared by Ethan, Rebekah, Timothy, and Olena

ACCOUNT NUMBERS AND NAMES

206 - Sales Tax Payable

Sold Custom Diamond Pendanton Deposit

106 - Accounts Receivable

and Cash Equivalents

Sold .4 Ounces of Standard Gold - 8% Sales Tax

Prepared by Ethan, Rebekah, Timothy, and Olena

ACCOUNT NUMBERS AND NAMES

606 - Fuel Expense

Gas for Company Car

614 Repair & Maint Expense

Oil Change - Company Car

100 - Cash and Cash Equivalents

Payment from Pete's Pawn - Settle Account in Full

Purchase of 2200 shares of stock, for $14.23 per share

212 Unearned Revenues

Received Returned Ring from Dec 9th Sale

114 - Prepaid Expense

Prepaid Rent for Jan 1st - Mar 31st 2015

400 Cash Dividends

Dividends - 660 shares of stock for $50 per share

308 Treasury Stock