Penz

Will. Foster

Penz

 Need a pen…Never could find one when you need

it..Well come on down to penz.  As a co-owner my business we sell pens and

only pens. We have all kinds of pens from no names to the best names. Our price ranges from .35 cent to 735.00. Our color range is just something you would have to see in person. We have collected pens also. One of our major sellers is our 14 k three diamond notorious pen.

Prove for the Debits & Credits

       

Col. # Column Title Debit Totals Credit Totals

1 General Debit $53,632.32

2 General Credit $900.00

3 Accounts Receiable Debit $16,535.73

4 Accounts Receivable Credit

5 Sales Credit $33,239.00

6 Sales Tax Payable Credit $2,326.73

7 Account Payable Debit

8 Accounts Payable Credit $22,256.00

9 Purchases Debit $36,812.00

10 Cash Debit $67,359.68

11 Cash Credit $15,816.00

Totals $207,578.73 $41,298.73

End of Month Cash Proof

       

Cash on hand at the beginning of the month ……….. $50,000.00

Plus total cash received during the month ……..……. $207,578.73

Equals total …………………………………………….. $257,578.73

Less total cash paid during the month …..…………… $41,298.73

Equals cash balance on hand at end of the month .... $216,280.00

Checkbook balance on the next unused check stub … $216,280.73

Yeah we sell them all…just come on down and take a pick

Create a chart of accounts with the accounts listed below for penz Co.Balance sheet Accounts Income Statement Accounts

(1000) Assets(4000) Revenue

1100. Cash.4100. Sales1200 A/R Cathy Vento(5000)1300. A/R Johnny Dippy 5100. Purchases2100. A/P Allota Pens. Co Accounts Receivable Ledger2200. Ball Points. Inc. 110. Cathy Vento

(3000) Owner’s Equity 120. Johnny Dippy3100. Will. Foster, Capital 130. Iris Blanc3200. Will. Foster, DrawingAccounts Payable Ledger3300. Lamar Fowler, Capital 210. Allota Pens. Co3400. Lamer Fowler, Drawing 220. Ball Points.Inc3500. Income Summary

Page Journal Page  

Date Account Title Doc. No Post Ref.General Accounts Receivable Sales Sales Tax Accounts Payable Purchases Cash

Debit Credit Debit Credit Credit Credit Debit Credit Debit Debit Credit

may 11Will. Foster Cap.   25,000.00                 25,000.00  

  11Lamar Fowler Cap.   25,000.00                 25,000.00  

  13Allota Pens Inc.               11,000.00 11,000.00    

  13 c333                 8,000.00   8,000.00   15Will. Foster Drawing. c334   630.00                   630.00   15Lamar Fowler Drawing. c335   630.00                   630.00   16Lamar Fowler Drawing. m3   450.00                        Merchadise       450.00                  

  17Iris Blanc s50           330.00 23.10       353.10    20Cathy Vento p101       813.20   760.00 53.20            21  t3           2,324.00 162.68       2,486.68    21Johnny Depp         3,688.29   3,447.00 241.29            22Will. Foster Drawing. c336   450.00                        Merchadise       450.00                    23Allota Pens Inc. p74                 4,566.00 4,566.00      23  c337                   6,556.00   6,556.00   24Ball Points Inc. p75                 2,354.00 2,354.00      24Allota Pens Inc. p76                 4,336.00 4,336.00    

  24  t5           7,655.00 535.85       8,190.85    25Iris Blanc s51       2,527.29   2,547.00 178.29            25Iris Blanc s52       8,093.48   7,564.00 529.48            26  t6           2,352.00 164.64       2,516.64    26Ball Points Inc. s53   452.61       423.00 29.61            27Allota Pens Inc. s54   725.46       678.00 47.46          

  28Iris Blanc s55 

294.25       275.00 19.25            29  t7           3,563.00 249.41       3,812.41    29Cathy Vento s56       618.46   578.00 40.46            31Johnny Depp s57       795.01   743.00 52.01                                             Total     53,632.32 900.00 16,535.73   33,239.00 2,326.73   22,256.00 36,812.00 67,359.68 15,816.00