Perdisco Coffee Executive Summary

© 2006-2010 Perdisco Coffee and Café Supplier Accounting Practice Set, US GAAP Edition 3

Publisher
Perdisco 10685-B Hazelhurst Drive, Suite 3965 Houston, TX 77043 USA Website: www.perdisco.com Email: [e-mail]

Production team
Commissioning publisher and development editor: Jon Carter Authors: Raechel Wight and Julyana Cahyadi Technical editor: Liam Carey Graphic designer: Ryan Dunn

Publisher's thanks
This practice set contains instructional content and questions selected from our comprehensive catalog. The production credits acknowledge the key contributors to this work. In addition to those people listed, Perdisco would like to thank all authors, designers and technical experts (past and present) who have made possible
You are working for the temporary accounting employment agency known as Tempters. Today you have been asked to work at Moondollars, a small coffee supplies store that operates in the city and is owned by Adrian Bartos. Your task here is to complete the accounting cycle for Moondollars for the month of June 20XX. To assist you in this task, Adrian tells you to read the company's accounting policies and procedures. Note that you will be required to follow these policies and procedures when completing the accounts for Moondollars.

Accounting
100 102 110 112 120 130 140 141 142 150 151 160 161 210 220 221 222 225 250 300 301 Total Name Cash Short-term Investments ARC - Accounts Receivable Control Interest Receivable Merchandise Inventory Office Supplies Prepaid Rent Prepaid Advertising Prepaid Insurance Office Furniture Accum Depn: Office Furniture Office Equipment Accum Depn: Office Equipment APC - Accounts Payable Control Wages Payable Electricity Payable Water Payable Interest Payable Bank Loan Payable Common Stock Retained Earnings Debit ($) 29,477 20,000 12,570 73,322 7,083 6,000 9,000 2,950 9,000 2,031 43,000 13,532 16,438 Credit ($)

80,000 100,401 212,402 212,402

10

PERDISCO ACCOUNTING PRACTICE SET (PCU3e)

Bank reconciliation statement ~ May
Moondollars Bank Reconciliation Statement As at May 31, 20XX Balance per bank: Add: deposit in transit from Quick Bolt Coffee deposit in transit from Central Coffee Deduct: outstanding check outstanding check Adjusted balance per bank Balance per book: Add: interest earned Deduct: bank service charge Adjusted balance per book 5 $29,477 134 29,482 No. 901 No. 902 $6,900 700 7,600 $29,477 $29,348 $3,685 1,210 4,895 37,077