[Bwhitfield]

Giving a different total. I can't find the problem... HELP!
Bonnie

Bath Designs Inc.
General Journal
As Of 01/31/12

Date Refer. Acct. Title Debit Credit

01/31 Adj. Ent 511 Factory Overhead 1,314.00
01/31 Adj. Ent 515 Insurance Exp.--Selling 61.25
01/31 Adj. Ent 516 Insurance Exp.-General 268.80
01/31 Adj. Ent 131 Prepaid Insurance 1,644.05

01/31 Adj. Ent 521 Office Supplies Expense 250.00
01/31 Adj. Ent 132 Office Supplies 250.00

01/31 Adj. Ent 520 Depr. Expense--Office Eq. 369.70
01/31 Adj. Ent 511 Factory Overhead 642.00
01/31 Adj. Ent 162 Accum. Depr.--Factory Eq. 642.00
01/31 Adj. Ent 164 Accum. Depr.--Office Eq. 369.70

01/31 Adj. Ent 511 Factory Overhead 225.00
01/31 Adj. Ent 172 Patents 225.00

01/31 Adj. Ent 524 Property Tax Expense 622.26
01/31 Adj. Ent 511 Factory Overhead 485.00
01/31 Adj. Ent 225 Property Tax Payable 137.26

01/31 Adj. Ent 501 Cost of Goods Sold 1,427.24
01/31 Adj. Ent 511 Factory Overhead 1,427.24

01/31 Adj. Ent 528 Uncollectible Accts. Exp. 7,900.00
01/31 Adj. Ent 112 Allow. For Doubt. Accts. 7,900.00

01/31 Adj. Ent 710 Income Tax Expense 6,748.83
01/31 Adj. Ent 226 Income Tax Payable 6,748.83
-------------- --------------
Totals 19,829.08 19,829.08
============== ==============

[pready]

You have posted your adjusting entries, but you have not posted the problem, so members on this site are unable to figure out what you did incorrectly.

[Bwhitfield]

OK here are entries:
1. Insurance expired during January (Prepaid insurance balance 7140.00) Factory 1314.00 Selling 61.25 General 268.80
2. Office Supplies inventory as of January 31 1650.00 (Beginning balance of office supplies (1900.00)
3. Depreciation for the month Factory Equipment 642.00 Office Equipment 369.70
4. Amorization of patents for January (Debit Factory Overhead) 225.00
5. Property tax accrued for the month: Factory 485.00 General 137.26
6. Close out underapplied Factory Overhead of 1427.24 to Cost of Goods Sold.
7. Based on past experience Bath Designs estimates that 7900.00 is a reasonable balance for the January 31 balance in Allowance for Doubtful Accounts (beginning balance 3367.00)

[pready]

For number 5 your debits and credits are not equal.

For number 7 you are using the wrong amount. You need to use the difference between 7,900 and 3,367 to get your ending account balance to 7,900

There is nothing listed about Income Tax so I do not know if this is required, or if the amount is right.

The rest of your entries look correct except I do not know what the ent followed by the number means.

Just a note: On this site the formatting for journal entries will not work right so your entries will look confusing, so it is best just to put Debit, Credit, Dr, or Cr before your entries so that members can understand the entry. For an example:
Debit Cash for 10,000
Credit Pready - Capital for 10,000
This lets the reader know what account was debited and what account was credited.

[Bwhitfield]

OK #5 reads... Property tax accrued for the month: Factory 485.00 and General 137.26
I did my journal entries as Property Tax Expense - Debit 622.26 Factory Overhead credit 485 and Property tax payable credit 137.26... did I do this entry wrong?

[pready]

In your first post on number 5 I misread what your debits and credits were. By looking at it again your Debit was to Property Tax Expense and your Credits were to Factory Overhead and Property Taxes Payable.

The way I would record number 5 is:
Debit Property Tax Expense for 137.36 (for general)
Debit Factory Overhead for 485
Credit Property Taxes Payable for 622.26

[Bwhitfield]

Pready:
THANK YOU SO MUCH... that solved my problem!!

[Diamond_L]

Do any one have the answers to the Journal I am missing something please help