pt per entrypossible pts earned Grading Criteria: Week 2 1.12 transactions to journalization.5.0060 1.2940 TOTAL100 Grading Criteria: Week 3 1. 5 Transaction Dates in the Inventory Ledger.1050 2.6Postings to Journal Tab.4.16725 3.6 Posting to the General Ledger4.16725 TOTAL100 Grading Criteria: Week 4 1. Journal entry to write off account.20 2.Computation of depreciation(show your work).20 3.Journal entry for depreciation.20 4. 4 Posting to the General Ledger1040 TOTAL100 Grading Criteria: Week 5 1.Journal entry converting Capital into Common Stock.10 2. 3 Postings to the General Ledger.30 3. Unadjusted Trial Balance.60 100 Grading Criteria: Week 6 1.Income Statement40 2.Retained Earnings Statement20 3.Balance Sheet40 (1 pt off per error on each statement)TOTAL100 Grading Criteria: Week 7 1.3 or 4 Closing Journal Entries30 2. Postings to Genreal Ledger20 3.Post Closing Trial Balance50 (1 pt off per error on statement)TOTAL1002. Post the 31 accounts to the general ledger. Remember to compute account balances as you go along.
General Journal DateAccountPRDrCr Week 2 7/1/2023 Cash100000.00 Capital100000.00 7/2/2023 Equipment10100.00 Accounts Receivable10100.00 7/5/2023 Inventory1000.00 Accounts Payable1000.00 7/9/2023 Shipping Expense200.00 Cash200.00 7/11/2023 Inventory600.00 Accounts Payable600.00 7/15/2023 Rent Expenses2000.00 Cash2000.00 7/15/2023Accounts Receivable1000.00 Sales1000.00 15-Jul Cost of Goods Sold120.00 Merchandise Inventory120.00 7/16/2023 Accounts Receivable2000.00 Sales2000.00 16-Jul Cost of Goods Sold240.00 Merchandise Inventory240.00 7/22/2023 Accounts Receivable3500.00 Sales3500.00 22-Jul Cost of Goods Sold390.00 Merchandise Inventory390.00 7/24/2023 Sales Returnand allowance500.00 Accounts Receivable500.00 7/26/2023 Cash2940.00 Sales Discount60.00 Accounts Receivable3000.00 31-Jul Electricity Expenses100.00 Cash100.00 Week 4 7/31/2023Bad debit account1000.00(1000+100)/4=2525 accounts receivable1000.00 7/31/2023depreciation account210.402525/12=210.4 fixed assets210.40 Week 5 7/31/2023capital100000.00 common stock75000.00 paid in excess of par25000.00
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