[gagoo]

Please help! I am in desperate need of assistance with my homework.






May1 Paid rent (80% selling space, 20% office space) S&P Management Co. 3410 $3,710
2 Sold merchandise on credit (cost $4,100) Hensel Company 8785 2/10, n/60 6,100
2 Issued credit memo on returned merch. Knox, Inc. Apr. 28 175
Total selling price (gross) Knox, Inc. Apr. 28 4,725
3 Received credit memo on returned merch. Peyton Products Apr. 29 798
4 Purchased merchandise on credit Gear Supply Co. May 4 n/10 EOM 37,072
Purchased store supplies on credit Gear Supply Co. May 4 n/10 EOM 574
Purchased office supplies on credit Gear Supply Co. May 4 n/10 EOM 83
5 Received payment less discount and return Knox, Inc. Apr. 28 n/10 EOM ?
8 Paid inv. Less 2 % discount and May 3 return Peyton Products Apr. 29 3411 ?
9 Sold store supplies for cash at cost 350
10 Purchased office equipment on credit Gear Supply Co. May 10 n/10 EOM 4,074
11 Received payment less discount Hensel Company May 2 ?
11 Purchased merchandise on credit Garcia, Inc. May 10 2/10, n/60 8,800
12 Received credit memo on returned merch. Gear Supply Co. May 10 854
15 Check issued for sales salaries Payroll 3412 5,320
Check issued for office salaries Payroll 3412 3,150
15 Cash sales for first half of month (cost $38,200) 59,220
16 Sold merchandise on credit (cost $1,890) Hensel Company 8786 2/10, n/60 3,990
17 Purchased merchandise on credit Fink Corp. May 14 2/10, n/60 13,650
19 Paid invoice less discount Garcia, Inc. May 10 3413
22 Sold merchandise on credit (cost $4,990) Lee Services 8787 2/10, n/60 6,850
23 Paid invoice less discount Fink Corp. May 14 3414 ?
24 Purchased merchandise on credit Gear Supply Co. May 23 n/10 EOM 8,120
Purchased store supplies on credit Gear Supply Co. May 23 n/10 EOM 630
Purchased office supplies on credit Gear Supply Co. May 23 n/10 EOM 280
25 Purchased merchandise on credit Peyton Products May 23 2/10, n/30 3,080
26 Sold merchandise on credit (cost $8,230) Crane Corp. 8788 2/10, n/60 14,210
26 Paid April electric bill Perennial Power 3415 1,283
29 Issued check to owner for personal use Jenny Colo 3416 7,000
30 Received payment less discount Lee Services May 22 ?
30 Check issued for sales salaries Payroll 3417 5,320
Check issued for office salaries Payroll 3417 3,150
31 Cash sales for second half of month (cost $42,500) 66,052

Additional information:
a. Expired insurance $553
b. Ending store supplies inventory 2,632
c. Ending office supplies inventory 504
d. Estimated depreciation of store equipment 567
e. Estimated depreciation of office equipment 329



Here are the fields that have to be entered.

COLO COMPANY
Cash Receipts Journal

Sales Accts. Other COGS
Trans. Cash Discount Recv. Sales Accts. Debit
Date Account Cr. Explanation No. Debit Debit Credit Credit Credit Inv. Credit
May 5 Knox, Inc. Sale of April 28 81
9 Store Supplies Sold store supplies 82
11 Hensel Company Sale of May 2 83
15 Sales Cash sales, 84
May 1-15
30 Lee Services Sale of May 22 85
31 Sales Cash Sales, 86
May 16-31
31 Totals


COLO COMPANY
Cash Disbursements Journal

Other Accts.
Check Account Trans. Cash Inventory Accts. Pay.
Date No. Payee Debited No. Credit Credit Debit Debit
May 1 3410 S&P Mgmt. Co. Rent Exp. Selling 76
Rent Exp. Office
8 3411 Peyton Products Peyton Products 77
15 3412 Payroll Sales Salaries Exp. 78
Office Salaries Exp.
19 3413 Garcia, Inc. Garcia, Inc. 79
23 3414 Fink Corp. Fink Corp. 80
26 3415 Perennial Power Utilities Exp. 81
29 3416 Jenny Colo J. Colo, Withdrawals 82
30 3417 Payroll Sales Salaries Exp. 83
Office Salaries Exp.
Totals


COLO COMPANY
General Journal

Trans.
Date Description No. Debit Credit
May 2 Sales Returns and Allowances 65
Accounts Receivable-Knox, Inc.
3 Accounts Payable-Peyton Products 66
Inventory
12 Accounts Payable-Gear Supply Co. 67
Office Equipment

Adjusting entries
May 31 Insurance Expense 68
Prepaid Insurance
31 Store Supplies Expense 69
Store Supplies
31 Office Supplies Expense 70
Office Supplies
31 Depreciation Expense, Store Equip. 71
Accumulated Depr. Store Equip.
31 Depreciation Expense, Office Equip. 72
Accumulated Depr. Office Equip.

Closing entries
May 31 Income Summary 73
Sales Discounts
Sales Returns and Allowances
Cost of Goods Sold
Depr. Expense, Office Equipment
Depr. Expense, Store Equipment
Office Salaries Expense
Sales Salaries Expense
Insurance Expense
Rent Expense, Office Space
Rent Expense, Selling Space
Office Supplies Expense
Store Supplies Expense
Utilities Expense
31 Sales 74
Income Summary
31 Income Summary 75
J. Colo, Capital
31 J. Colo, Capital 76
J. Colo, Withdrawals


COLO COMPANY
General Ledger

Cash Account No. 101
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 50,247
May 31 CRJ
31 CDJ

Accounts Receivable Account No. 106
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 4,725
May 2 JG65
31 SJ
31 CRJ

Merchandise Inventory Account No. 119
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 220,080
May 31 GJ66
31 CDJ
31 PJ
31 CRJ
31 SJ

Office Supplies Account No. 124
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 430
May 31 PJ
31 GJ70

Store Supplies Account No. 125
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 2,447
May 4 PJ78
9 CR82
24 PJ82
31 GJ69

Prepaid Insurance Account No. 128
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 3,318
May 31 GJ68

Office Equipment Account No. 163
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 22,470
May 10 PJ79
12 GJ67

Accumulated Depreciation, Office Equipment Account No. 164
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 9,898
May 31 GJ72

Store Equipment Account No. 165
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 38,920

Accumulated Depreciation, Store Equipment Account No. 166
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 17,556
May 31 GJ71

Accounts Payable Account No. 201
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 7,098
May 3 GJ66
12 GJ67
31 PJ
31 CDJ

Jenny Colo, Capital Account No. 301
Trans.
Date Item no. Debit Credit Balance
Apr. 30 Balance 308,085
May 31 GJ75
31 GJ76

Jenny Colo, Withdrawals Account No. 302
Trans.
Date Item no. Debit Credit Balance
May 29 CD82
31 GJ76

Sales Account No. 413
Trans.
Date Item no. Debit Credit Balance
May 31 SJ
31 CRJ
31 GJ74

Sales Returns & Allowances Account No. 414
Trans.
Date Item no. Debit Credit Balance
May 2 GJ65
31 GJ73

Sales Discounts Account No. 415
Trans.
Date Item no. Debit Credit Balance
May 31 CRJ
31 GJ73

Cost of Goods Sold Account No. 502
Trans.
Date Item no. Debit Credit Balance
May 31 S2
31 R2
31 G3


Depreciation Expense, Ofc. Equipment Account No. 612
Trans.
Date Item no. Debit Credit Balance
May 31 GJ72
31 GJ73

Depreciation Expense, Store Equipment Account No. 613
Trans.
Date Item no. Debit Credit Balance
May 31 GJ71
31 GJ73

Office Salaries Expense Account No. 620
Trans.
Date Item no. Debit Credit Balance
May 15 CD78
30 CD83
31 GJ73

Sales Salaries Expense Account No. 621
Trans.
Date Item no. Debit Credit Balance
May 15 CD78
30 CD83
31 GJ73

Insurance Expense Account No. 637
Trans.
Date Item no. Debit Credit Balance
May 31 GJ68
31 GJ73

Rent Expense, Office Space Account No. 641
Trans.
Date Item no. Debit Credit Balance
May 1 CD76
31 GJ73

Rent Expense, Selling Space Account No. 642
Trans.
Date Item no. Debit Credit Balance
May 1 CD76
31 GJ73

Office Supplies Expense Account No. 650
Trans.
Date Item no. Debit Credit Balance
May 31 GJ70
31 GJ73

Store Supplies Expense Account No. 651
Trans.
Date Item no. Debit Credit Balance
May 31 GJ69
31 GJ73

Utilities Expense Account No. 690
Trans.
Date Item no. Debit Credit Balance
May 26 CD81
31 GJ73

Income Summary Account No. 901
Trans.
Date Item no. Debit Credit Balance
May 31 GJ73
31 GJ74
31 GJ75


COLO COMPANY
Accounts Receivable Ledger

Crane Corp.
Trans.
Date Item no. Debit Credit Balance
May 26 SJ86

Hensel Company
Trans.
Date Item no. Debit Credit Balance
May 2 SJ83
11 CR83
16 SJ84

Knox, Inc.
Trans.
Date Item no. Debit Credit Balance
Apr. 28 S2 4,725 4,725
May 2 GJ65
5 CR81

Lee Services
Trans.
Date Item no. Debit Credit Balance
May 22 SJ85
30 CR85

[morgaine300]

Sigh. Not that I don't want to help you, but it's not like I have an extra two hours to devote to your one VERY LONG problem. (That's also difficult to read and follow.)

You do realize we're volunteers here, right?

If it were at least in an Excel file, it might be easier to read. This is SOOOO hard to follow. And I can tell you one problem... where are the dollar amounts??