ACCT110 - Portfolio Project1

School: Bryant and Stratton College, Buffalo - Course: ACCOUNTING PRINCIPAL 1 110 - Subject: Accounting

pt per entrypossible pts earned Grading Criteria: Week 2 1.10 transactions to journalization.5.0050 1.4330 3. Unadjusted Trial Balance.20 (1 pt off per error on statement)TOTAL100 Grading Criteria: Week 3 1. 2 Payroll Journal Entries2550 2.10 Postings to General Ledger.50 TOTAL100 Grading Criteria: Week 4 1. Bank Reconciliation70 2.1 Journal Entry to Corrent the Book Balance.20 3. 2 Postings to General Ledger510 TOTAL100 Grading Criteria: Week 5 1.4 Adjusting Journal Entries520 2. 8 Postings to the General Ledger540 3. Adjusted Trial Balance40 (1 pt off per error on each statement)TOTAL100 Grading Criteria: Week 6 1.Income Statement40 2.Statement of Owner's Equity20 3.Balance Sheet40 (1 pt off per error on each statement)TOTAL100 Grading Criteria: Week 7 1. 4 Closing Journal Entries40 2. 14 Postings to Genreal Ledger10 3.Post Closing Trial Balance50 (1 pt off per error on statement)TOTAL1002. Post the 21 accounts to the general ledger. Remember to compute account balances as you go along.

General Journal DateAccountPRDrCr Week 2 5/1/2022 Cash20000.00 Owner's Capital20000.00 5/3/2022 Equipment10000.00 Accounts payable10000.00 5/5/2022 Prepaid Insurance1200.00 Cash1200.00 5/9/2022 Supplies1000.00 Cash1000.00 5/11/2022 Cash500.00 Accounts Recievable12500.00 Service revenue13000.00 5/15/2022 phone bill200.00 Cash200.00 5/22/2022 Owner's withdrew400.00 cash400.00 5/24/2022Accounts payable1000.00 Cash1000.00 5/29/2022 Cash1500.00 Unearned Revenue1500.00 5/31/2022Cash1500.00 Cash1500.00 Week 3 5/31/2022 Salary Expense2660.00 Federal Income Tax256.00 Fica tax payable164.92 Medicare Payable38.57 Salary Payable2200.51 5/31/2022 Net Pay2200.51 Matching Fica164.92 Matching Medicare38.57 Federal Unemployment Tax3.48 State Unemployment35.96 payroll total expense242.93 Week 4 5/31/2022service charge50.00 cash50.00 Week 5 5/31/2022supplies expense400.00