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LaGuardia Community College Business and Technology Department Offroad ATV Company - A Computerized Business Simulation BTA 112:

Accounting II Student's Name: Brandon Ayala LaGuardia Live Student Email:brandon.ayala@live.lagcc.cuny.edu Course Code: 01/22/00

Offroad ATV Company Income Statement For the Prior Year Ended December 31, 20__ Revenues Sales Revenue Less: Sales Returns & Allowances Sales Discounts Net Sales Revenue Service Revenue Total Revenues Cost of Goods Sold Gross Profit Operating expenses Selling expenses Store Salaries Expense Delivery Expense Repair & Maintenance Expense Insurance Expense Bad Debt Expense Utilities Expense Depreciation Expense - Trucks Depreciation Expense - Building Total selling expenses Administrative expenses Office Salaries Expense Payroll Tax Expense Office Supplies Expense Insurance Expense Utilities Expense Depreciation Expense - Office Equipment Depreciation Expense - Building Depreciation Expense - Office Furniture Total administrative expenses Total operating expenses Income from operations Non-operating revenue and expenses Interest Expense Total non-operating revenue and expenses Net Income A. Marks, Capital Januar Add:

$ 845,200.67 ######## 6,509.45 52,709.45 792,491.22 17,974.23 810,465.45 543,320.46 267,144.99

Less: A. Marks, Capital Dece

53,432.99 5,178.23 1,683.23 1,536.00 1,226.43 975.65 7,375.00 1,640.00 73,047.53

######## 21,296.98 7,829.34 2,304.00 1,463.47 3,480.00 2,460.00 1,465.00 ######## 216,769.97 50,375.02

12,195.52 12,195.52 $ 38,179.50

Offroad ATV Company Owner's Equity Statement For the Prior Year Ended December 31, 20__ A. Marks, Capital January 1 Investment Net Income Drawing A. Marks, Capital December 31 ########## $ 0.00 38,179.50 38,179.50 303,139.42 1,000.00 ##########

Current assets Cash Accounts Receivable Less: Allowance For Doub Merchandise Inventory Merchandise Inventory - A Office Supplies Prepaid Insurance Total current assets

Property, plant, and equipment Land Building Less: Accumulated Depre

Office Equipment Less: Accumulated Depre

Office Furniture Less: Accumulated Depre

Trucks Less: Accumulated Depre

Total property, plan

Current liabilities Accounts Payable Mortgage Payable - Curren Unearned Revenue Salaries Payable Interest Payable Federal Income Tax Withh FICA Taxes Payable State Unemployment Tax P Federal Unemployment Ta

Total current liabilit

Long-term liabilities Mortgage Payable - Long-

Total liabilities Owner's equity A. Marks, Capital

Offroad ATV Company Balance Sheet Prior Year December 31, 20__ Assets

$ 9,080.77 Accounts Receivable Allowance For Doubtful Accounts Merchandise Inventory Merchandise Inventory - Accessories & Parts Office Supplies Prepaid Insurance Total current assets ######## 1,370.30 32,887.20 95,373.40 3,934.54 2,534.00 3,840.00 #########

erty, plant, and equipment 120,000.00 Accumulated Depreciation - Building Office Equipment Accumulated Depreciation - Office Equipment Office Furniture Accumulated Depreciation - Office Furniture ######## 4,100.00 24,376.00 3,479.33 17,654.00 1,465.40 64,000.00 7,375.00 210,900.00

20,896.67

16,188.60

Accumulated Depreciation - Truck Total property, plant, and equipment Total assets

56,625.00 424,610.27 #########

Liabilities and Owner's Equity

ent liabilities Accounts Payable Mortgage Payable - Current Portion Unearned Revenue Salaries Payable Interest Payable Federal Income Tax Withholding Payable FICA Taxes Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Total current liabilities

$ 48,913.65 13,000.00 6,500.00 1,140.26 657.96 300.82 284.93 63.29 9.37 $ 70,870.28

g-term liabilities Mortgage Payable - Long-Term Portion

199,250.48

Total liabilities

270,120.76

A. Marks, Capital Total liabilities and owner's equity

302,139.42 #########

Offroad ATV Company Trial Balance November 30, 20xx Debit Cash Accounts Receivable Allowance For Doubtful Accounts Merchandise Inventory Merchandise Inventory - Accessories & Parts Office Supplies Prepaid Insurance Prepaid Advertisement Land Building Accumulated Depreciation - Building Office Equipment Accumulated Depreciation - Office Equipment Office Furniture Accumulated Depreciation - Office Furniture Trucks Accumulated Depreciation - Truck Notes Payable Accounts Payable Unearned Revenue Mortgage Payable - Current Portion Salaries Payable Federal Income Tax Withholding Payable FICA Taxes Payable Interest Payable State Unemployment Tax Payable Utilities Payable Federal Unemployment Tax Payable Mortgage Payable - Long-Term Portion A. Marks, Capital A. Marks, Drawing Sales Revenue Service Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Office Salaries Expense Store Salaries Expense Payroll Tax Expense Interest Expense Office Supplies Expense Repair & Maintenance Expense Delivery Expense Insurance Expense Utilities Expense Advertisement Expense $ 8,234.13 45,676.76 $ 1,370.30 127,599.89 13,465.34 5,680.43 320.00 750.00 120,000.00 215,000.00 7,858.33 24,376.00 6,668.72 17,654.00 2,808.68 64,000.00 14,135.42 0.00 47,865.43 1,500.00 13,000.00 4,378.00 2,310.00 1,094.00 643.85 486.00 201.23 72.00 187,333.81 302,139.42 2,000.00 804,423.45 12,786.23 52,500.00 9,750.00 497,061.29 97,432.57 47,714.29 19,706.00 8,382.35 4,367.93 2,299.87 3,353.84 3,520.00 2,178.76 1,500.00 Credit

Bad Debt Expense Depreciation Expense - Trucks Depreciation Expense - Building Depreciation Expense - Office Equipment Depreciation Expense - Office Furniture Total

1,500.00 6,760.42 3,758.33 3,189.39 1,343.28 ########### ###########

Date 12/1/20xx Cash

Account Titles and Explanation

Debit $ 50,000.00

Credit

Notes Payable 12/1/20xx Prepaid Insurance Cash 12/1/20xx Office Supplies Cash 12/1/20xx Salaries Payable Cash 12/2/20xx Prepaid Advertisement Advertisement Expense 12/2/20xx Interest Payable Mortgage Payable Cash 12/3/20xx Cash Sales Revenue Cash Sales Revenue 12/3/20xx Accounts Receivable Service Revenue Cost of Goods Sold Merchandise Inventory- Accessories and Parts 12/4/20xx Cash Sales Discount Accounts Receivable 12/4/20xx Merchandise Inventory- Accessories and Parts Accounts Payable 12/7/20xx Office Equipment Cash 12/7/20xx Accounts Payable Sales Discount Cash 12/8/20xx Accounts Receivable Sales Revenue 565.24 6,500.00 3,840.00

$ 50,000.00

3,840.00 1,600.00 1,600.00 4,378.00 4,378.00 4,500.00 4,500.00 643.85 1,083.33 1,727.18 6,500.00 6,500.00

6,500.00

565.24 367.41 367.41 6,242.60 127.40 6,370.00 1,365.25 1,365.25 1,765.26 1,765.26 27,300.00 546.00 26,754.00 19,500.00 19,500.00

Cost of Goods Sold Merchandise Inventory 12/8/20xx Trucks Note Payable ~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~ 12/9/20xx Repair and Maintenance Expense Cash 12/9/20xx Cash Sales Revenue Cost of Goods Sold Merchandise Inventory 12/10/20xx A. Mark Drawings Cash 12/11/20xx Office Furniture Notes Payable 12/11/20xx Accounts Receivable Sales Revenue Delivery Expense Cash 12/11/20xx Utilities Expense Cash 12/11/20xx Accounts Payable Cash 12/14/20xx Sales Returns and Allowances Accounts Receivable Merchandise Inventory Cost Of Goods Sold 12/14/20xx Store Salaries Expense Office Salaries Expense Fica Taxes Payable Federal Income Tax Withholding Payable Cash 12/14/20xx Payroll Tax Expense Fica Taxes Payable State Unemployment Tax Payable Federal Unemployment Tax Payable

12,675.00 12,675.00 35,000.00 14,000.00

723.23 723.23 6,500.00 6,500.00 4,225.00 4,225.00 2,000.00 2,000.00 10,000.00 10,000.00 6,500.00 65,000.00 104.20 104.20 201.23 201.23 1,365.25 1,365.25 6,500.00 6,500.00 4,225.00 4,225.00 2,000.00 4,080.00 547.00 1,155.00 4,378.00 826.00 547.00 243.00 36.00

12/15/20xx Fica Taxes Payable Federal Income Tax Withholding Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Cash 12/15/20xx Cash Accounts Receivable 12/16/20xx Merchandise Inventory Accounts Payable 12/16/20xx Cash Accounts Receivable 12/16/20xx Accounts Payable Sales Discount Cash 12/17/20xx Delivery Expense Cash 12/18/20xx Cash Merchandise Inventory 12/21/20xx Merchandise Inventory- Accessories and Parts Accounts Payable 12/21/20xx Cash Sales Discount Accounts Receivable 12/21/20xx Cash Sales Discount Accounts Receivable 12/22/20xx Delivery Expense Cash 12/23/20xx Accounts Payable Cash 12/23/20xx Office Equipment Cash 12/28/20xx Cash Service Revenue Cost of Goods Sold Merchandise Inventory- Parts and Accessories

1,094.00 2,310.00 72.00 486.00 3,962.00 754.54 754.54 16,900.00 16,900.00 13,000.00 13,000.00 12,223.12 122.23 12,100.89 813.74 813.74 8,450.00 8,450.00 2,500.23 2,500.23 12,740.00 260.00 13,000.00 6,370.00 130.00 6,500.00 279.42 279.42 1,125.45 1,125.45 4,671.99 4,671.99 873.25 873.25 567.61 567.61

12/28/20xx Sales Revenue Accounts Receivable Sales Revenue Accounts Receivable 12/28/20xx Store Salaries Expense Office Salaries Expense Fica Taxes Payable Federal Income Tax Withholding Payable Cash Payroll Taxes Expense Fica Taxes Payable Federal Unemployment Tax State Unemployment Tax 12/29/20xx Office Supplies Cash 12/30/20xx Cash Accounts Receivable 12/31/20xx Cash Unearned Revenue Check

6,500.00 6,500.00 6,500.00 6,500.00 2,000.00 4,080.00 547.00 1,155.00 4,378.00 826.00 547.00 36.00 243.00 650.00 650.00 565.24 565.24 6,500.00 6,500.00 346,445.84 383,945.84

Offroad ATV Company General Journal Date Account Titles and Explanation Adjusting Entries 12/31/20xx a. 12/31/20xx Debit Credit Date

b.

c.

d.

e.

f.

g.

h.

i.

j.

k.

Check

0.00

0.00

Account Titles and Explanation Closing Entries

Debit

Credit

Check

0.00

0.00

Offroad ATV Comp General Ledger Cash Date 11/30/20xx 12/1/20xx Debit 8,234.13 50,000.00 Credit Bal. Dr (Cr) 8,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 58,234.13 Date 11/30/20xx 12/01/20xx Notes Payable Debit Credit 0.00 50,000.00

Date 11/30/20xx

Accounts Payable Debit Credit 47,865.43

Date 11/30/20xx

Unearned Revenue Debit Credit 1,500.00

Mortgage Payable - Current Portion Date Debit Credit 11/30/20xx 13,000.00

Date 11/30/20xx

Salaries Payable Debit Credit 4,378.00

Date 11/30/20xx

Accounts Receivable Debit Credit 45,676.76

Bal. Dr (Cr) 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76 45,676.76

Federal Income Tax Withholding Payable Date Debit Credit 11/30/20xx 2,310.00

Date 11/30/20xx

FICA Taxes Payable Debit Credit 1,094.00

Allowance For Doubtful Accounts Bal. Dr (Cr) Date Debit Credit 11/30/20xx 1,370.30 (1,370.30) (1,370.30) Merchandise Inventory Debit Credit 127,599.89 Interest Payable Debit Credit 643.85

Date 11/30/20xx

Bal. Dr (Cr) 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89 127,599.89

Date 11/30/20xx

State Unemployment Tax Payable Date Debit Credit 11/30/20xx 486.00

Merchandise Inventory - Accessories & Parts Bal. Dr (Cr) Date Debit Credit 11/30/20xx 13,465.34 13,465.34 13,465.34 13,465.34 13,465.34 13,465.34 13,465.34 Office Supplies Debit Credit 5,680.43

Date 11/30/20xx

Utilities Payable Debit Credit 201.23

Federal Unemployment Tax Payable Date Debit Credit 11/30/20xx 72.00

Date 11/30/20xx

Bal. Dr (Cr) 5,680.43 5,680.43 5,680.43 5,680.43 Mortgage Payable - Long-Term Portion Date Debit Credit 11/30/20xx 187,333.81

Date 11/30/20xx

Prepaid Insurance Debit Credit 320.00

Bal. Dr (Cr) 320.00 320.00 320.00

Date 11/30/20xx

Prepaid Advertisement Debit Credit 750.00

Bal. Dr (Cr) 750.00 750.00 750.00

Land Date Debit Credit Bal. Dr (Cr)

11/30/20

120,000.00 Building Debit Credit 215,000.00

120,000.00

Date 11/30/20xx

Bal. Dr (Cr) 215,000.00

Accumulated Depreciation - Building Bal. Dr (Cr) Date Debit Credit 11/30/20xx 7,858.33 (7,858.33) (7,858.33) Office Equipment Debit Credit 24,376.00

Date 11/30/20xx

Bal. Dr (Cr) 24,376.00 24,376.00 24,376.00

Accumulated Depreciation - Office Equipment Bal. Dr (Cr) Date Debit Credit 11/30/20xx 6,668.72 (6,668.72) (6,668.72) Office Furniture Debit Credit 17,654.00

Date 11/30/20xx

Bal. Dr (Cr) 17,654.00 17,654.00

Accumulated Depreciation - Office Furniture Bal. Dr (Cr) Date Debit Credit 11/30/20xx 2,808.68 (2,808.68) (2,808.68) Trucks Debit Credit 64,000.00

Date 11/30/20xx

Bal. Dr (Cr) 64,000.00 64,000.00 64,000.00

Accumulated Depreciation - Truck Bal. Dr (Cr) Date Debit Credit 11/30/20xx 14,135.42 (14,135.42) (14,135.42) (14,135.42)

Offroad ATV Company General Ledger Sales Revenue Debit Credit 804,423.45 Income Summary Debit

ayable Bal. Dr (Cr) 0.00 (50,000.00) (50,000.00) (50,000.00) Date 11/30/20xx

Payable Bal. Dr (Cr) (47,865.43) (47,865.43) (47,865.43) (47,865.43) (47,865.43) (47,865.43) (47,865.43) (47,865.43) (47,865.43)

Bal. Dr (Cr) (804,423.45) (804,423.45) (804,423.45) (804,423.45) (804,423.45) (804,423.45) (804,423.45)

Date 12/31/20xx

Date 11/30/20xx

A. Marks, Capital Debit

Date 11/30/20xx

Service Revenue Debit Credit 12,786.23

Bal. Dr (Cr) (12,786.23) (12,786.23) (12,786.23) (12,786.23)

Date 11/30/20xx

A. Marks, Drawing Debit 2,000.00

Revenue Bal. Dr (Cr) (1,500.00) (1,500.00)

Date 11/30/20xx

Sales Returns & Allowances Bal. Dr (Cr) Debit Credit 52,500.00 52,500.00 52,500.00 52,500.00 Sales Discounts Debit Credit 9,750.00

- Current Portion Bal. Dr (Cr) (13,000.00) (13,000.00) (13,000.00)

Date 11/30/20xx

Bal. Dr (Cr) 9,750.00 9,750.00 9,750.00 9,750.00 9,750.00

Payable Bal. Dr (Cr) (4,378.00) (4,378.00) (4,378.00) Date 11/30/20xx Cost of Goods Sold Debit Credit 497,061.29 Bal. Dr (Cr) 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29 497,061.29

Withholding Payable Bal. Dr (Cr) (2,310.00) (2,310.00) (2,310.00) (2,310.00) (2,310.00)

s Payable Bal. Dr (Cr) (1,094.00) (1,094.00) (1,094.00) Date 11/30/20xx Office Salaries Expense Debit Credit 97,432.57 Bal. Dr (Cr) 97,432.57 97,432.57

(1,094.00) (1,094.00) (1,094.00) (1,094.00) (1,094.00) Date 11/30/20xx Bal. Dr (Cr) (643.85) (643.85) (643.85) (643.85) (643.85) (643.85)

97,432.57 97,432.57 97,432.57 Store Salaries Expense Debit Credit 47,714.29

Payable

Bal. Dr (Cr) 47,714.29 47,714.29 47,714.29 47,714.29 47,714.29

Date 11/30/20xx

Payroll Tax Expense Debit Credit 19,706.00

ent Tax Payable Bal. Dr (Cr) (486.00) (486.00) (486.00) (486.00) (486.00)

Bal. Dr (Cr) 19,706.00 19,706.00 19,706.00 19,706.00 19,706.00

Date 11/30/20xx

Interest Expense Debit Credit 8,382.35

Payable Bal. Dr (Cr) (201.23) (201.23) (201.23) Office Supplies Expense Debit Credit 4,367.93

Bal. Dr (Cr) 8,382.35 8,382.35 8,382.35 8,382.35 8,382.35 8,382.35

ment Tax Payable Bal. Dr (Cr) (72.00) (72.00) (72.00) (72.00) (72.00)

Date 11/30/20xx

Bal. Dr (Cr) 4,367.93 4,367.93 4,367.93

Long-Term Portion Bal. Dr (Cr) (187,333.81) (187,333.81)

Date 11/30/20xx

Insurance Expense Debit Credit 3,520.00

Bal. Dr (Cr) 3,520.00 3,520.00 3,520.00

Date 11/30/20xx

Utilities Expense Debit Credit 2,178.76

Bal. Dr (Cr) 2,178.76 2,178.76 2,178.76

Repair & Maintenance Expense Bal. Dr (Cr) Date Debit Credit 11/30/20xx 2,299.87 2,299.87 2,299.87 2,299.87

Date 11/30/20xx

Advertisement Expense Debit Credit 1,500.00

Bal. Dr (Cr) 1,500.00 1,500.00 1,500.00

Date 11/30/20xx

Bad Debt Expense Debit Credit 1,500.00

Bal. Dr (Cr) 1,500.00 1,500.00 1,500.00

Date 11/30/20xx

Delivery Expense Debit Credit 3,353.84

Bal. Dr (Cr) 3,353.84 3,353.84 3,353.84

Depreciation Expense - Building Bal. Dr (Cr) Date Debit Credit 11/30/20xx 3,758.33 3,758.33 3,758.33 3,758.33 Depreciation Expense - Office Equipment Bal. Dr (Cr) Date Debit Credit 11/30/20xx 3,189.39 3,189.39 3,189.39 3,189.39 Depreciation Expense - Office Furniture Bal. Dr (Cr) Date Debit Credit 11/30/20xx 1,343.28 1,343.28 1,343.28 1,343.28 Depreciation Expense - Trucks Bal. Dr (Cr) Debit Credit 6,760.42 6,760.42 6,760.42 6,760.42

Date 11/30/20xx

Income Summary Credit

Bal. Dr (Cr) 0.00 0.00 0.00

A. Marks, Capital Credit 302,139.42

Bal. Dr (Cr) (302,139.42) (302,139.42) (302,139.42)

A. Marks, Drawing Credit

Bal. Dr (Cr) 2,000.00 2,000.00 2,000.00

Offroad ATV Company Subsidiary Ledgers Accounts Receivable Subsidiary Ledger A/R - E. Alvarez Debit Credit 6,500.00 Accounts Payable Subsidiary Ledger A/P - A & R ATVs Debit Credit 4,347.63

Date 10/26/20xx

Bal. Dr (Cr) 6,500.00

Date 11/23/20xx

A/R - A. Bennetch Date Debit Credit 11/30/20xx 13,000.00 A/R - R. Bhika Debit Credit 765.23 A/R - C. Diaz Debit Credit 6,500.00

Bal. Dr (Cr) 13,000.00

A/P - ATV Supply Company Date Debit Credit 11/23/20xx 1,125.45

Date 11/19/20xx

Bal. Dr (Cr) 765.23 Date 11/30/20xx Bal. Dr (Cr) 6,500.00 6,500.00

A/P - Dirty Trail ATVs Debit Credit 12,346.59

Date 11/26/20xx

A/P - Dust Quest ATV Supply Company Date Debit Credit

Date 11/09/20xx

A/R - A. Francis Debit Credit 1,224.65 A/R - E. Goodman Debit Credit 1,174.39

Bal. Dr (Cr) 1,224.65 Date 11/20/20xx A/P - Dust Trail ATVs Debit Credit 1,465.43 A/P - Offroad Vehicles Debit Credit 723.19 A/P - Quest ATVs Debit Credit

Date 10/30/20xx

Bal. Dr (Cr) 1,174.39

A/R - H. Lincoln Date Debit Credit 11/20/20xx 13,000.00

Bal. Dr (Cr) 13,000.00 13,000.00

Date 11/12/20xx

Date Date 10/01/20xx A/R - T. Napolitano Debit Credit Bal. Dr (Cr) 1,392.72 1,392.72 A/R - S. Paulson Debit Credit

Date

Bal. Dr (Cr) 0.00 0.00 0.00

A/P - Winding Trail ATVs Date Debit Credit 11/27/20xx 27,857.14

Date

A/R - A. Reece Debit Credit

Bal. Dr (Cr) 0.00 0.00

Date

A/R - V. Sandoval Debit Credit

Bal. Dr (Cr)

9/30/20xx

1,365.23 A/R - P. Simon Debit Credit

1,365.23

Date

Bal. Dr (Cr) 0.00

Date

A/R - S. Thompson Debit Credit

Bal. Dr (Cr) 0.00 0.00

Date 11/18/20xx

A/R - L. Walker Debit Credit 754.54

Bal. Dr (Cr) 754.54 754.54

le Subsidiary Ledger

A & R ATVs Bal. Dr (Cr) (4,347.63)

Supply Company Bal. Dr (Cr) (1,125.45) (1,125.45) (1,125.45)

ty Trail ATVs Bal. Dr (Cr) (12,346.59) (12,346.59)

ATV Supply Company Bal. Dr (Cr) 0.00 0.00

st Trail ATVs Bal. Dr (Cr) (1,465.43) road Vehicles Bal. Dr (Cr) (723.19)

Quest ATVs Bal. Dr (Cr) 0.00 0.00

ding Trail ATVs Bal. Dr (Cr) (27,857.14) (27,857.14)

Offroad ATV Company Work Sheet For the Year Ended December 31, 20xx Trial Balance Debit Credit Cash Accounts Receivable Allowance For Doubtful Accounts Merchandise Inventory Merchandise Inventory - Accessories & Parts Office Supplies Prepaid Insurance Prepaid Advertisement Land Building Accumulated Depreciation - Building Office Equipment Accumulated Depreciation - Office Equipment Office Furniture Accumulated Depreciation - Office Furniture Trucks Accumulated Depreciation - Truck Notes Payable Accounts Payable Unearned Revenue Mortgage Payable - Current Portion Federal Income Tax Withholding Payable FICA Taxes Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Interest Payable Salaries Payable Utilities Payable Mortgage Payable - Long-Term Portion A. Marks, Capital A. Marks, Drawing Sales Revenue Service Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Office Salaries Expense Store Salaries Expense Payroll Tax Expense Interest Expense Office Supplies Expense Repair & Maintenance Expense Insurance Expense Delivery Expense Utilities Expense $ 43,025.29 38,422.22 $ 1,370.30 101,848.70 16,395.80 7,930.43 4,160.00 5,250.00 120,000.00 215,000.00 7,858.33 30,813.25 6,668.72 27,654.00 2,808.68 67,000.00 3,135.42 74,000.00 17,486.48 8,000.00 11,916.67 2,310.00 2,188.00 486.00 72.00 Adjustment Debit Credit

187,333.81 302,139.42 4,000.00 862,923.45 14,224.72 59,000.00 10,270.00 531,796.31 105,592.57 51,714.29 21,358.00 8,382.35 4,367.93 3,023.10 3,520.00 4,167.58 2,178.76

Advertisement Expense Bad Debt Expense Depreciation Expense - Trucks Depreciation Expense - Building Depreciation Expense - Office Equipment Depreciation Expense - Office Furniture Total Net Income Total

1,500.00 1,500.00 6,760.42 3,758.33 3,189.39 1,343.28

TV Company k Sheet d December 31, 20xx Adjusted Trial Balance Debit Credit $ 43,025.29 38,422.22 $ 1,536.89 99,425.30 15,754.60 6,527.45 3,840.00 4,500.00 120,000.00 215,000.00 82,000.00 30,813.25 7,020.29 27,654.00 3,001.63 67,000.00 3,770.84 74,000.00 17,486.48 8,000.00 13,000.00 2,557.50 2,422.42 538.07 79.71 984.85 938.15 198.07 186,250.48 302,139.42 4,000.00 862,923.45 14,224.72 59,000.00 10,270.00 534,860.91 106,466.86 52,142.86 21,534.99 9,367.20 5,770.91 3,023.10 3,840.00 4,167.58 2,376.83 Income Statement Debit Credit Balance Sheet Debit Credit

2,250.00 1,666.59 7,395.84 4,100.00 3,540.96 1,536.23

Offroad ATV Company Trial Balance December 31, 20xx Debit Credit

Total

Offroad ATV Company Adjusted Trial Balance December 31, 20xx Debit Credit

Total

Offroad ATV Company Income Statement For the Year Ended December 31, 20xx Revenues

Cost of Goods Sold Gross Profit Operating expenses Selling expenses

Total selling expenses Administrative expenses

Total administrative expenses Total operating expenses Income from operations Non-operating revenue and expenses Interest Expense Total non-operating revenue and expenses Net Income

Offroad ATV Company Owner's Equity Statement For the Month Ended December 31, 20xx A. Marks, Capital January 1

A. Marks, Capital December 31

Offroad ATV Company Balance Sheet December 31, 20xx Assets Current assets

Total current assets Property, plant, and equipment

Total property, plant, and equipment Total assets Liabilities and Owner's Equity Current liabilities

Total current liabilities

Long-term liabilities Total liabilities Owner's equity Total liabilities and owner's equity

Offroad ATV Company Post-Closing Trial Balance December 31, 20xx Debit Credit

Total

LaGuardia Community College Business and Technology Department Offroad ATV Company - A Computerized Business Simulation BTA 112: Accounting II Student's Name: LaGuardia Live Student Email: Course Code: Brandon Ayala brandon.ayala@live.lagcc.cuny.edu 01/22/00

General Journal Balance Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect

Regular Entries - Total Debit Amount Regular Entries - Total Credit Amount Adjusting Entries - Total Debit Amount Adjusting Entries - Total Credit Amount Closing Entries - Total Debit Amount Closing Entries - Total Credit Amount General Ledger

Cash Accounts Receivable Allowance For Doubtful Accounts Merchandise Inventory Merchandise Inventory - Accessories & Parts Office Supplies Prepaid Insurance Prepaid Advertisement Land Building Accumulated Depreciation - Building Office Equipment Accumulated Depreciation - Office Equipment Office Furniture Accumulated Depreciation - Office Furniture Trucks Accumulated Depreciation - Truck Notes Payable Accounts Payable Unearned Revenue Mortgage Payable - Current Portion Salaries Payable Federal Income Tax Withholding Payable FICA Taxes Payable Interest Payable State Unemployment Tax Payable Utilities Payable Federal Unemployment Tax Payable Mortgage Payable - Long-Term Portion Sales Revenue

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Service Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Office Salaries Expense Store Salaries Expense Payroll Tax Expense Interest Expense Office Supplies Expense Insurance Expense Utilities Expense Repair & Maintenance Expense Advertisement Expense Bad Debt Expense Delivery Expense Depreciation Expense - Building Depreciation Expense - Office Equipment Depreciation Expense - Office Furniture Depreciation Expense - Trucks Income Summary A. Marks, Capital A. Marks, Drawing Subsidiary Ledger Accounts Receivable A/R - E. Alvarez A/R - A. Bennetch A/R - R. Bhika A/R - C. Diaz A/R - A. Francis A/R - E. Goodman A/R - H. Lincoln A/R - T. Napolitano A/R - S. Paulson A/R - A. Reece A/R - V. Sandoval A/R - P. Simon A/R - S. Thompson A/R - L. Walker Accounts Payable A/P - A & R ATVs A/P - ATV Supply Company A/P - Dirty Trail ATVs A/P - Dust Quest ATV Supply Company A/P - Dust Trail ATVs A/P - Offroad Vehicles A/P - Quest ATVs A/P - Winding Trail ATVs Worksheet

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Balance Correct Correct Correct Incorrect Correct Correct Incorrect Correct Correct Correct Correct Incorrect Correct Incorrect Balance Correct Incorrect Incorrect Correct Correct Incorrect Incorrect Incorrect

Trial Balance - Total Debit

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Trial Balance - Total Credit Adjustment - Total Debit Adjustment - Total Credit Adjusted Trial Balance - Total Debit Adjusted Trial Balance - Total Credit Income Statement - Total Debit - Pre - Net Income Income Statement - Total Credit - Pre - Net Income Income Statement - Debit Column - Net Income Income Statement - Total Debit - Post - Net Income Income Statement - Total Credit - Post - Net Income Balance Sheet - Total Debit - Pre - Net Income Balance Sheet - Total Credit - Pre - Net Income Balance Sheet - Credit Column - Net Income Balance Sheet - Total Debit - Post - Net Income Balance Sheet - Total Credit - Post - Net Income Trial Balance

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Total Debit Total Credit Adjusted Trial Balance

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Total Debit Total Credit Multi-Step Income Statement

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Net Sales Revenue Service Revenue Total Revenues Cost of Goods Sold Gross Profit Total Selling Expenses Total Administrative Expenses Total Operating Expenses Income From Operations Total Non-Operating Revenue and Expenses Net Income Owner's Equity Statement

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A. Marks, Capital January 1 A. Marks, Capital December 31 Classified Balance Sheet

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Total Current Assets Total Property, Plant, and Equipment Total Assets

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Total Current Liabilities Total Liabilities Total Liabilities and Owner's Equity Post-Closing Trial Balance

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Total Debit Total Credit

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