This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Asset Accounts Liability Accounts Acct # Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipment Office Supplies Accounts Receivable Accumulated Depreciation Merchandise Inventory 101 102 103 104 105 106 107 108 109 Notes Payable Accounts Payable Wages Payable Interest Payable Equity Accounts Acct # Acct # 201 Common Stock 202 Dividends 203 Cost of Goods Sold 204 301 302 303 Revenue Accounts Acct # Bakery Sales Merchandise Sales 401 402 Expense Accounts Acct # Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Office Supplies Expense 501 502 503 504 505 506 507 508 509 510 511 A Company General Journal Entries October, 20xx Date Accounts 1-Oct Cash Common Stock 1-Oct Baking Supplies Accounts Payable Debit 25,000.00 8,500.00 8,500.00 3-Oct Cash Notes Payable 10,000.00 7-Oct Prepaid Rent Rent Expense Cash 1,500.00 1,500.00 10,000.00 3,000.00 10-Oct Business License Expense Cash 375.00 11-Oct Misc. Expense Cash 250.00 13-Oct Baking Equipment Common Stock 375.00 250.00 5,000.00 5,000.00 13-Oct Advertising Expense Cash 200.00 14-Oct Office Supplies Cash 300.00 30-Oct Telephone Expense Accounts Payable 31-Oct Prepaid Insurance Cash 31-Oct Wages Expense Wages Payable Credit 25,000.00 200.00 300.00 75.00 75.00 1,200.00 1,200.00 120.00 120.00 31-Oct Cash Accounts Receivable Bakery Sales Total 10,000.00 5,000.00 15,000.00 69,020.00 69,020.00 <== Do the debits equal the credits? (they should) A Company General Journal Entries November, 20xx Date 5-Nov Wages Payable Cash 8-Nov Cash Accounts Receivable Accounts Debit 120.00 3,800.00 3,800.00 10-Nov Accounts Payable Cash 75.00 15-Nov Baking Supplies Accounts Payable 5,000.00 15-Nov Wages Expense Wages Payable 75.00 5,000.00 480.00 480.00 15-Nov Rent Expense Cash 1,500.00 18-Nov Cash Accounts Receivable 1,000.00 20-Nov Accounts Payable Cash 8,500.00 1,500.00 1,000.00 8,500.00 20-Nov Wages Payable Cash 480.00 22-Nov Office Supplies Cash 300.00 30-Nov Telephone Expense Accounts Payable 30-Nov Wages Expense Wages Payable 30-Nov Cash Accounts Receivable Credit 120.00 480.00 300.00 75.00 75.00 420.00 420.00 12,500.00 7,500.00 Bakery Sales Total 20,000.00 41,750.00 41,750.00 <== Do the debits equal the credits? (they should)

Financial Accounting - Milestone One

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