Sales Journal - January 2013

Page 1

Date
Jan.
4
4
6
10
11
14
15
15
17
24
24
26

Customer
John Jackson
Tammi Jones
Tammi Jones
Jack White
Elizabeth Evans
Jessica Lewis
Jessica Lewis
Jack White
Debbie Long
Jack White
Tammi Jones
John Jackson

Totals for Month

Invoice
No.
69721
69722
69723
69724
69725
69726
69727
69728
69729
69730
69731
69732

PR
110-1
110-3
110-3
110-4
110-2
110-5
110-5
110-4
110-6
110-4
110-3
110-1

Accounts Receivable Dr.

Sales Cr.
4,350.00
6,720.00
3,357.00
5,380.00
3,622.20
3,600.00
1,244.40
1,127.40
5,290.85
1,400.00
997.50
3,750.00

Cost of Goods Sold Dr.

Inventory Cr.
1,525.00
2,350.00
1,175.00
1,880.00
1,267.50
1,260.00
435.55
394.75
1,850.80
490.00
350.00
1,312.50

40,839.35
(110,400)

14,291.10
(500,130)

Purchases Journal - January 2013

Page 1

Date
Jan.

4
6
7
15
15
21
26
27

Account
Walters Company
Heritage Distributors
Samson Sports
Newton Company
Macon, LLC
Cumberland Inc
Heritage Distributors
Savers Mart Inc.

Totals for Month

Date of
Invoice
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan

4
6
7
15
15
21
26
27

Terms

PR

2/8, n/40
2/10, n/30
1/10, n/25
1/10, n/40
2/10, n/30
1/15, n/35
2/10, n/30
1/10, n/35

200-3
200-6
200-7
200-5
200-2
200-4
200-6
200-8

Accounts
Payable
Cr.
5,100.00
1,300.00
4,065.10
2,118.30
225.00
2,344.80
986.86
1,055.30

Inventory
Dr.
5,100.00
1,300.00
4,065.10

Office
Supplies
Dr.

Store
Supplies
Dr.

Other
Accounts
Dr.

2,118.30
225.00
2,344.80
986.86
1,055.30

17,195.36
(200)

14,852.06
(130)

Journal Proof:
Total Debits:
Total Credits:

17,195.36
17,195.36

2,118.30
(135)

225.00
(140)

0.00
(X)

Cash Receipts Journal - January 2013

Page 1

Date
Jan.

3
10
12
18
26
31

Account
Credited
Jessica Lewis
Sales
Debbie Long
John Jackson
Elizabeth Evans
Sales
Tammi Jones
Sales
Jack White
Sales
Tammi Jones
Jack White
Totals for Month

Explanation

PR
110-5

Cash Sales
110-6
110-1
110-2
Cash Sales

Cash
Dr.
1,485.00
8,510.50
5,956.50

Sales
Discount
Dr.
15.00

Sales
Cr.

Cost of Goods
Sold Dr.
Inventory Cr.
1,228.50

5,000.00
5,100.00
900.00

43.50

13,825.00

6,580.00

2,302.75
7,245.00

12,590.25

8,090.25

110-4
Cash Sales

Other
Accounts
Cr.

3,510.50

110-3
Cash Sales

Accounts
Receivable
Cr.
1,500.00

2,831.50
4,500.00

10,330.90
110-3
110-4

2,505.50
14.00

52,698.15
(100)

72.50
(410)

Journal Proof:
Total Debits:
Total Credits:

60,008.90
60,008.90

875.50
3,357.00
4,482.40

20,686.25
(400)

32,084.40
(110)

0.00
(X)

7,238.25
(500,130)

Cash Disbursements Journal - January 2013

Page 1

Date
Jan.

3
3
11
11
12
15
18
24
24
25
26
26
31
31

Ck.
No.
782
783
784
785
786
787
788
789
790
791
792
793
794
795

Payee
Walters Corporation
Macon, LLC
Walters Corporation
Cumberland Inc.
Joyce Lucas
Newton Company
Omaha Power and Light
Savers Mart Inc
Penn Corporation
AT&T
Samson Sports
Joyce Lucas
Jill Lucas
Jill Lucas

31 796 Joan Bright

797 Jim Smith
798 Susan Jones

Totals for Month

Account Debited

PR
200-3
200-2
200-3
200-4
200-5

Telephone Expense

Jill Lucas, Withdrawals

Office Supplies
Store Supplies
Cash Over and Short

200-8
200-1
620
200-7
305
135
140
645

Cash
Cr.
1,668.00
1,127.00
5,000.00
1,239.25
900.00
2,000.00
850.41
4,950.00
2,000.00
358.25
4,065.10
900.00
4,200.00
131.48

Inventory
Cr.
32.00
23.00
100.00
10.75

Accounts
Payable
Dr.
1,700.00
1,150.00
5,100.00
1,250.00

Utilities
Expense
Dr.

Journal Proof:
Total Debits:
Total Credits:

Other
Accounts
Dr.

900.00
2,000.00
850.41
4,950.00
2,000.00
358.25
4,065.10
900.00
4,200.00
70.16
55.32
6.00

3,500.00
2,800.00
2,200.00

37,889.49
(100)

Salaries
Expense
Dr.

3,500.00
2,800.00
2,200.00

165.75
(130)

38,055.24
38,055.24

22,215.10
(200)

850.41
(625)

10,300.00
(300)

4,689.73
(X)

General Journal - January 2013

Page 1

Date
Account Title and Explanation
Jan.
10 Accumulated Depreciation-Building
Depreciation Expense
(Corrected last months Depr. Exp)
17 Accounts Payable-Savers Mart Inc
Merchandise Inventory
(Issued a Debit Memorandum)
31 Notes Receivable
Accounts Receivable-Jessica Lewis
(Issued a 120-day, 3% note receivable)

Post
Ref.
175
635

300.00

125
110/110-5

4,844.40

100
405
650
100
110/110-3
100

Credit
150.00

200/200-8
130

Ref #
Adjusting Entries for the month ended - January 31, 2013
#1 31 (d) Office Supplies Expense
605
Office Supplies
135
31 (e) Store Supplies Expense
610
Store Supplies
140
31 (f) Insurance Expense
615
Prepaid Insurance
145
31 (g) Interest Receivable
120
Interest Revenue
405
31 (h) Interest Expense
630
Interest Payable
205
31 (i) Bad Debts Expense
640
Allowance for Doubtful Accounts
115
31 (j) Depreciation Expense
635
Accumulated Depreciation- Office Equipment
155
31 (k) Depreciation Expense
635
Accumulated Depreciation- Store Equipment
165
31 (l) Depreciation Expense
635
Accumulated Depreciation- Building
175
31 (m) Salaries Expense
600
Salaries Payable
210
Bank Reconciliation Adjustments
31 (a) Cash
Interest Revenue
31 (b) Bank Fees Expense
Cash
31 ( c) Accounts Receivable- Tammi Jones
Cash

Debit
150.00

300.00

4,844.40

262.06
262.06
487.87
487.87
590.25
590.25
21.53
21.53
452.08
452.08
251.11
251.11
349.87
349.87
713.57
713.57
437.22
437.22
360.00
360.00

27.41
27.41
11.75
11.75
7,270.00
7,270.00

Ledger
Cash
Date
Explanation
Dec
31 Beg. Bal
Jan
31
31
31 AJE

Account No. 100

Post
Ref.
R1
D1
G1

Debit
52,698.15

37,889.49
7,254.34

Petty Cash
Date
Explanation
Dec
31 Beg. Bal
Jan

Debit

G1
S1
R1
G1

Debit

Credit
4,844.40

40,839.35
32,084.40
7,270.00

Balance
200.00
200.00
200.00
200.00

Balance
11,000.00
6,155.60
46,994.95
14,910.55
22,180.55

Account No. 115

Debit

Credit
251.11

Interest Receivable

Balance
(192.50)
(443.61)
(443.61)

Account No. 120

Post
Ref.
G1

Debit

Credit

21.53

Notes Receivable
Date
Explanation
Dec
31 Beg. Bal
Jan.
31

Credit

Account No. 110

Post
Ref.

Allowance for Doubtful Accounts

Post
Date
Explanation
Ref.
Dec
31 Beg. Bal
Jan.
31 AJE
G1

Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

Balance
22,770.00
75,468.15
37,578.66
30,324.32
30,324.32

Account No. 105

Post
Ref.

Accounts Receivable
Date
Explanation
Dec
31 Beg. Bal
Jan.
31
31
31
31 AJE

Credit

Balance
37.50
59.03
59.03

Account No. 125

Post
Ref.
G1

Merchandise Inventory

Debit
4,844.40

Credit

Balance
10,000.00
14,844.40
14,844.40

Account No. 130

Post

Date
Explanation
Dec
31 Beg. Bal
Jan.
17
31
31
31
31

Ref.
G1
S1
P1
R1
D1

Debit

300.00
14,291.10
14,852.06
7,238.25
165.75

Office Supplies
Date
Explanation
Dec
31 Beg. Bal
Jan.
31
31
31 AJE

P1
D1
G1

Debit

262.06

Balance
865.00
2,983.30
3,053.46
2,791.40

Account No. 140

Post
Ref.
P1
D1
G1

Debit

Credit

225.00
55.32
487.87

Balance
815.00
1,040.00
1,095.32
607.45

Account No. 145

Post
Ref.

Debit

G1

Credit
590.25

Office Equipment
Date
Explanation
Dec
31 Beg. Bal
Jan.

Credit

2,118.30
70.16

Prepaid Insurance
Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

Balance
65,721.50
65,421.50
51,130.40
65,982.46
58,744.21
58,578.46
58,578.46

Account No. 135

Post
Ref.

Store Supplies
Date
Explanation
Dec
31 Beg. Bal
Jan.
31
31
31 AJE

Credit

Balance
8,964.75
8,374.50
8,374.50
8,374.50

Account No. 150

Post
Ref.

Debit

Credit

Balance
25,890.80
25,890.80
25,890.80
25,890.80

Accumulated Depreciation - Office Equipment

Post
Date
Explanation
Ref.
Debit
Dec
31 Beg. Bal
Jan.
31 AJE
G1

Account No. 155

Store Equipment

Account No. 160

Date
Explanation
Dec
31 Beg. Bal

Post
Ref.

Debit

Credit
349.87

Credit

Balance
(12,849.20)
(13,199.07)
(13,199.07)

Balance
66,790.20

Jan.

66,790.20
66,790.20

Accumulated Depreciation - Store Equipment

Post
Date
Explanation
Ref.
Debit
Dec
31 Beg. Bal
Jan.
31 AJE
G1

Account No. 165

Building

Account No. 170

Post
Ref.

Date
Explanation
Dec
31 Beg. Bal
Jan.

Accumulated Depreciation - Building

Post
Date
Explanation
Ref.
Dec
31 Beg. Bal
Jan.
10
G1
31 AJE
G1

Debit

Debit

Credit

437.22

Balance
210,000.00
210,000.00
210,000.00

Balance
(38,960.00)
(38,810.00)
(39,247.22)

Account No. 200

Post
Ref.
G1
P1
D1

Debit

Credit

300.00
17,195.36
22,215.10

Balance
(20,215.00)
(19,915.00)
(37,110.36)
(14,895.26)

Account No. 205

Post
Ref.

Debit

G1

Credit
452.08

Salaries Payable
Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

Credit

150.00

Interest Payable
Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

713.57

Balance
(26,025.25)
(26,738.82)
(26,738.82)

Account No. 175

Accounts Payable
Date
Explanation
Dec
31 Beg. Bal
Jan.
17
31
31

Credit

Balance
(1,779.17)
(2,231.25)
(2,231.25)

Account No. 210

Post
Ref.
G1

Long-term Note Payable (3.0%)

Debit

Credit
360.00

Balance
0.00
(360.00)
(360.00)

Account No. 215

Date
Explanation
Dec
31 Beg. Bal
Jan.

Post
Ref.

Debit

Jill Lucas, Capital

Date
Explanation
Dec
31 Beg. Bal
Jan.

Debit

D1

Debit

Debit

S1
R1

Credit
40,839.35
20,686.25

Balance
0.00
4,200.00
4,200.00

Balance
0.00
(40,839.35)
(61,525.60)

Account No 405
Post
Ref.

Debit

G1

Credit
48.94

Balance
0.00
(48.94)
(48.94)

Account No. 410

Post
Ref.
R1

Debit

Credit

72.50

Cost of Goods Sold

Date
Explanation
Dec
31 Beg. Bal
Jan
31
31

Balance
(148,033.63)
(148,033.63)
(148,033.63)

Account No. 400

Post
Ref.

Sales Discount
Date
Explanation
Dec
31 Beg. Bal
Jan
31

Credit

4,200.00

Interest Revenue
Date
Explanation
Dec
31 Beg. Bal
Jan
31 AJE

Credit

Account No. 305

Post
Ref.

Sales
Date
Explanation
Dec
31 Beg. Bal
Jan.
31
31

Balance
(175,000.00)
(175,000.00)
(175,000.00)

Account No. 300

Post
Ref.

Jill Lucas, Withdrawls

Date
Explanation
Dec
31 Beg. Bal
Jan.
31

Credit

Balance
0.00
72.50
72.50

Account No. 500

Post
Ref.
S1
R1

Debit
14,291.10
7,238.25

Credit

Balance
0.00
14,291.10
21,529.35
21,529.35

Salaries Expense
Date
Explanation
Dec
31 Beg. Bal
Jan.
31
31 AJE

Account No. 600

Post
Ref.
D1
G1

Debit
10,300.00
360.00

Office Supplies Expense

Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

G1

Debit

G1

Debit

Balance
0.00
487.87
487.87
487.87

Account No. 615

Post
Ref.
G1

Debit

Credit

590.25

Balance
0.00
590.25
590.25
590.25

Account No. 620

Post
Ref.
D1

Debit

Credit

358.25

Balance
0.00
358.25
358.25
358.25

Account No.625
Post
Ref.
D1

Debit

Credit

850.41

Interest Expense
Date
Explanation
Dec
31 Beg. Bal

Credit

487.87

Utilities Expense
Date
Explanation
Dec
31 Beg. Bal
Jan.
31

Balance
0.00
262.06
262.06
262.06
262.06

Account No. 610

Post
Ref.

Telephone Expense
Date
Explanation
Dec
31 Beg. Bal
Jan.
25

Credit

262.06

Insurance Expense
Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

Balance
0.00
10,300.00
10,660.00

Account No. 605

Post
Ref.

Store Supplies Expense

Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

Credit

Balance
0.00
850.41
850.41
850.41

Account No. 630

Post
Ref.

Debit

Credit

Balance
0.00

Jan.

31 AJE

G1

452.08

Depreciation Expense
Date
Explanation
Dec
31 Beg. Bal
Jan.
10
31 AJE

Account No. 635

Post
Ref.
G1
G1

Debit

150.00

G1

Debit

Credit

251.11

Balance
0.00
251.11
251.11
251.11

Account No. 645

Post
Ref.

Debit

D1

6.00

Bank Fees Expense

Date
Explanation
Dec
31 Beg. Bal
Jan
31 AJE

Balance
0.00
(150.00)
1,350.66
1,350.66

Account No. 640

Post
Ref.

Cash Over and Short

Date
Explanation
Dec
31 Beg. Bal
Jan
31

Credit

1,500.66

Bad Debts Expense

Date
Explanation
Dec
31 Beg. Bal
Jan.
31 AJE

452.08
452.08
452.08

Credit

Balance
0.00
6.00
6.00
6.00

Account No. 650

Post
Ref.

Debit

G1

11.75

Credit

Balance
0.00
11.75
11.75
11.75

Accounts Receivable
Subsidiary Ledger

John Jackson

230 N. 147th St.

Date
Dec
Jan

Explanation
28
4
12
26

Elizabeth Evans
Date
Dec
Jan

Explanation

Explanation
31
4
6
18
24
31
31 AJE

Jack White

Explanation
30
10
15
24
26
31

Jessica Lewis

Explanation
27
3
14

5,100.00
3,750.00

Balance
750.00
5,100.00
0.00
3,750.00
3,750.00
3,750.00

Debit
900.00
3,622.20

Credit

900.00

Debit
525.00
6,720.00
3,357.00

Credit

7,245.00
997.50
3,357.00
7,270.00

Debit
1,075.00
5,380.00
1,127.40
1,400.00

Credit

4,500.00
4,482.40

110-3
Balance
525.00
7,245.00
10,602.00
3,357.00
4,354.50
997.50
8,267.50
8,267.50

Debit
1,500.00

Credit
1,500.00

3,600.00

110-4

Balance
1,075.00
6,455.00
7,582.40
8,982.40
4,482.40
0.00
0.00

Omaha, Nebraska 68144

Post
Ref.
S12
R1
S1

110-2

Balance
900.00
4,522.20
3,622.20
3,622.20

Grand Island, Nebraska 87654

Post
Ref.
S12
S1
S1
S1
R1
R1

8320 M. St.

Date

Credit

Denver, Colorado 52349

Post
Ref.
S12
S1
S1
R1
S1
R1
G1

P.O. Box 1092

Date
Dec
Jan

Debit
750.00
4,350.00

110-1

North Platte, Nebraska 21879

Post
Ref.
S12
S1
R1

551 Terrace Cr.

Date
Dec
Jan

Dec
Jan

773 Spring St.

31
11
12

Tammi Jones

Seward, Nebraska 76390

Post
Ref.
S12
S1
R1
S1

110-5
Balance
1,500.00
0.00
3,600.00

15
31

Debbie Long

20458 Walnut

Date
Dec
Jan

S1
G1

Explanation
28
10
17

1,244.40
4,844.40

4,844.40
0.00

Norfolk, Nebraska 54321

Post
Ref.
S12
R1
S1

Debit
6,250.00

Credit
5,000.00

5,290.85

110-6
Balance
6,250.00
1,250.00
6,540.85
6,540.85

Accounts Payable
Subsidiary Ledger

Penn Corporation
Date
Explanation
Dec
25 credit terms: 1/10, n/30
Jan
24

Macon, LLC
Date
Explanation
Dec
24 credit terms: 2/10, n/30
Jan
3
15

Walters Corporation
Date
Explanation
Dec
26 credit terms: 2/8, n/40
Jan
3
4 credit terms: 2/8, n/40
11

Cumberland, Inc.
Date
Explanation
Dec
28 credit terms: 1/15, n/35
Jan
11
21

Newton Company
Date
Explanation
Dec
20 credit terms: 1/10, n/40
Jan
15
15 credit terms: 1/10, n/40

Heritage Distributors
Date
Explanation
Dec
15 credit terms: 2/10, n/30
Jan
6 credit terms: 2/10, n/30
26 credit terms: 2/10, n/30

333 S. Poppleton St. Omaha, NE 68135

200-1
Post
Ref.
Debit
Credit
Balance
P12
3,090.00
(3,090.00)
D1
2,000.00
(1,090.00)
(1,090.00)
(1,090.00)

899 Orchard Ave.

Council Bluffs, IA 54326 200-2
Post
Ref.
Debit
Credit
Balance
P12
1,150.00
(1,150.00)
D1
1,150.00
0.00
P1
225.00
(225.00)
(225.00)

741 Pine St.

Rapids City, SD 46828
200-3
Post
Ref.
Debit
Credit
Balance
P12
1,700.00
(1,700.00)
D1
1,700.00
0.00
P1
5,100.00
(5,100.00)
D1
5,100.00
0.00

P.O.Box 14
Souix Falls, SD 76340
200-4
Post
Ref.
Debit
Credit
Balance
P12
1,250.00
(1,250.00)
D1
1,250.00
0.00
P1
2,344.80
(2,344.80)
(2,344.80)

402 Harney
Witchita, KS 24704
200-5
Post
Ref.
Debit
Credit
Balance
P12
3,575.00
(3,575.00)
D1
2,000.00
(1,575.00)
P1
2,118.30
(3,693.30)
(3,693.30)

1095 Fort St.

Post
Ref.
Debit
P12
P1
P1

Kearney, NE 45981
Credit
4,200.00
1,300.00
986.86

Balance
(4,200.00)
(5,500.00)
(6,486.86)

200-6

(6,486.86)

Samson Sports
Date
Explanation
Dec
31
Jan
7 credit terms: 1/10, n/25
26

Savers Mart Inc.

Date
Explanation
Dec
25 credit terms: 1/10, n/35
Jan
17
24
27

552 Plaza Dr.

Post
Ref.
Debit
P1
D1

Maryville, MO 64468
Credit
4,065.10

4,065.10

200-7

Balance
0.00
(4,065.10)
0.00
0.00

7236 Valley Veiw Dr. Des Moins, IA 98235

200-8
Post
Ref.
Debit
Credit
Balance
P12
5,250.00
(5,250.00)
G1
300.00
(4,950.00)
D1
4,950.00
0.00
P1
1,055.30
(1,055.30)

Acct No. Account Title

UNADJUSTED
TRIAL BALANCE
DR
CR

ADJUSTMENTS
DR
#

100

Cash

37,578.66

105

Petty cash

110

Accounts receivable

115

Allowance for doubtful accounts

120

Interest receivable

125

Notes receivable

14,844.40

130

Merchandise inventory

58,603.46

135

Office supplies

1,478.46

140

Store supplies

1,095.32

145

Prepaid insurance

8,964.75

150

Office equipment

27,465.80

155

Accumulated depreciation-office equip

160

Store equipment

165

Accumulated depreciation-store equip

170

Building

175

a-c

200.00
14,910.55

7,270.00

192.50
37.50

i
g

21.53

12,849.20

26,025.25

Accumulated depreciation-building

38,810.00

200

Accounts payable

14,895.26

205

Interest payable

210

Salaries payable

215

Long-term notes payable

175,000.00

300

Jill Lucas, Capital

148,033.63

305

Jill Lucas, Withdrawals

400

Sales

405

Interest revenue

410

Sales discount

500

Cost of Goods Sold

21,504.35

600

Salaries expense

10,300.00

605

66,790.20
210,000.00

1,779.17

h
m

4,200.00
61,525.60
a,g

72.50
m

360.00

Office supplies expense

262.06

610

Store supplies expense

487.87

615

Insurance expense

590.25

620

Telephone expense

358.25

625

Utilities expense

850.41

630

Interest expense

635

Depreciation expense

640

Bad debts expense

645
650

Cash Over and Short

Bank fees expense
Totals
Net Income
Totals

150.00 j-l

452.08
1,500.66

251.11

11.75

6.00
479,260.61

479,260.61

11,207.31

ADJUSTMENTS
CR

7,254.34

ADJUSTED
TRIAL BALANCE
DR
CR

INCOME STATEMENT
DR
CR

BALANCE SHEET
DR
CR

30,324.32

30,324.32

200.00

200.00

22,180.55

22,180.55

251.11

443.61

443.61

59.03

59.03

14,844.40

14,844.40

58,603.46

58,603.46

262.06

1,216.40

1,216.40

487.87

607.45

607.45

590.25

8,374.50

8,374.50

27,465.80

27,465.80

349.87

13,199.07

13,199.07

66,790.20
713.57

66,790.20
26,738.82

26,738.82

210,000.00
437.22

210,000.00
39,247.22

39,247.22

14,895.26

14,895.26

452.08

2,231.25

2,231.25

360.00

360.00

360.00

175,000.00

175,000.00

148,033.63

148,033.63

4,200.00

48.94

4,200.00
61,525.60

61,525.60

48.94

48.94

72.50

72.50

21,504.35

21,504.35

10,660.00

10,660.00

262.06

262.06

487.87

487.87

590.25

590.25

358.25

358.25

850.41

850.41

11,207.31

452.08

452.08

1,350.66

1,350.66

251.11

251.11

6.00
11.75

6.00
11.75

481,723.40

481,723.40

36,857.29

61,574.54

444,866.11

24,717.25
61,574.54

420,148.86
24,717.25

61,574.54

444,866.11

444,866.11

Lucas Sporting Goods

Bank Reconciliation
January 31, 2013

Bank statement balance

$ 24,965.15

Add:
Deposits in transit:
Deposit of Jan. 31 in transit

Deduct:
Outstanding checks:
Check NO. 779
Check NO. 791
Check NO. 794
Check NO. 795

Adjusted bank balance

10,330.90
35,296.05

282.00
358.25
4,200.00
131.48

Book (ledger) balance

Add:
Increases to Cash:
Interest Earned

Deduct:
Decreases to Cash:
NSF Check plus Fee
Bank Service Charge
4,971.73

$ 30,324.32

Adjusted book balance

7,270.00
11.75

$ 37,578.66

27.41
37,606.07

7,281.75

$ 30,324.32

Lucas Sporting Goods

Income Statement
For the Month Ended January 31, 2013
Sales
Less: Sales Discount
Net Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation Expense
Salaries Expense
Office Supplies Expense
Store Supplies Expense
Insurance Expense
Telephone Expense
Utilities Expense
Bad Debts Expense
Cash Short and Over
Total Operating Expenses
Other Revenues and Gains
Interest Revenue
Interest Expense
Bank Fees Expense
Total Other Revenues and Gains
Net Income

72.50

$ 61,525.60
72.50
61,453.10
21,504.35
39,948.75

1,350.66
10,660.00
262.06
487.87
590.25
358.25
850.41
251.11
6.00
14,816.61
48.94
452.08
11.75
414.89
$ 24,717.25

Lucas Sporting Goods

Statement of Owner's Equity
For the Month Ended January 31, 2013
Jill Lucas, Capital, January 1
Add: Net Income
Less: Withdrawals by Owner
Jill Lucas, Capital, January 31

24,717.25

$ 148,033.63
24,717.25
172,750.88
4,200.00
$ 168,550.88

Lucas Sporting Goods

Balance Sheet
January 31, 2013
Assets
Current Assets
Cash
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts
Interest Receivable
Notes Receivable
Merchandise Inventory
Office Supplies
Store Supplies
Prepaid Insurance
Total Current Assets
Plant Assets
Office Equipment
Accumulated Depr- Office Equipment
Store Equipment
Accumulated Depr- Store Equipment
Building
Accumulated Depr- Building
Total Plant Assets
Total Assets

Liabilities
Current Liabilities
Accounts Payable
Interest Payable
Salaries Payable
Current Portion of Long-Term Liabilities
Total Current Liabilities
Long-Term Liabilities
Long-Term Note Payable
Total Long-Term Liabilities
Total Liabilities
Equity
Jill Lucas, Capital

$ 30,324.32
200.00
22,180.55
(443.61)
59.03
14,844.40
58,603.46
1,216.40
607.45
8,374.50
$

135,966.50

225,070.89
361,037.39

57,486.51

27,465.80
(13,199.07)
66,790.20
(26,738.82)
210,000.00
(39,247.22)

$ 14,895.26
2,231.25
360.00
40,000.00

175,000.00
135,000.00
192,486.51

168,550.88

Total Liabilities and Equity

361,037.39