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Accounting 101 project

Acct 101: Principles ofFinancial Accounting I
Klondike Jewelry
Comprehensive
Final Project (CFP)
*Spring 2024*
Student Name: _____________________
© UAA Accounting Department S24
NOTE: You may begin working on this project when you have
an understanding of how special journals work.
Special journals are covered in Chapter 7.
See the syllabus for the project due date and time.
1
ACCT 101 Principles of Financial Accounting I
Klondike Jewelry
A Brief Introduction
Purpose: The purpose of this project is to demonstrate the full accounting cycle using an actual tourism
business in Alaska.
Tasks: A detailed task list is included below.
How will you know if you’ve been successful: You’ll know you’ve been successful if you understand how
to complete the accounting cycle process, starting with a business transaction (invoice, check, etc.) and
ending with the financial statements and post-closing trial balance, and complete the process in balance.
Due date: This project is due in two parts.
 R 4/4 1:00 pm Part 1 due date. You will submit this in Blackboard. This part will be checked for
completeness, not accuracy. Submit the following: Sales Journal, Purchases Journal, Cash
Receipts Journal, Cash Disbursements Journal, and General Journal. Part 1 is worth 50 points.
 R 4/18 1:00 pm Part 2 due date. You will submit this in class (or in Blackboard). All pages with
writing must be submitted, including the journals submitted in Part 1. Part 2 is worth 350 points.
Background Information:
Klondike Jewelry is a sole proprietorship owned by Ben Hill. It was founded in 1993 to carry out the
business of manufacturing and selling gold, jade, and ivory jewelry. Along with the sales of its own
items, Klondike Jewelry sells gifts made by other local artisans in its gift shop.
The business is located on the Parks Highway near Denali National Park and is open year-round,
although most of the sales are concentrated in the summer months. The company employs both fulltime and part-time staff. During the summer, the employees are primarily involved in serving customers
in the shop. During the off-season, the employees spend most of their time assembling jewelry for sale
during the summer. The owner splits his time between selling merchandise in the shop and directing
the employees. Mary Hill, the owner’s wife, who is a full-time employee of the company, oversees
administrative duties. These administrative duties include purchasing merchandise and supplies,
supervising the assembly of jewelry, pricing merchandise, processing the daily cash receipts and cash
disbursements, and performing the clerical and record keeping functions relating to payroll.
As the busy season approached, Mr. Hill realized he needed a bookkeeper to maintain company’s
accounting records. You were hired on June 1, 2023, to carry out this responsibility. Your main duties
include:
 Recording transactions in general and special journals based on supporting documents provided
 Posting to the general ledger and subsidiary ledgers
 Making appropriate adjusting journal entries
1
 Performing bank reconciliations
 Closing the books at the end of the month
 Preparing monthly financial statements and related schedules
Financial statements, schedules, and the bank reconciliation for May 2023, as well as the chart of
accounts and the company’s accounting policies are provided for your reference.
ACCOUNTING POLICIES (READ THESE BEFORE STARTING!)
Klondike Jewelry has adopted the following set of accounting policies and procedures regarding its
business operations and related recordkeeping:









All transactions, which are based on the incoming documents, are recorded in the journals using
the stamped received date, not the date on which the document was created.
Credit sales invoices are to be recorded in the Sales Journal. All customers are offered credit
terms of 2/10, n/30.
Note that if Klondike grants credit to a company, or if Klondike has been granted credit by a
company there will already be an Accounts Receivable (AR) or Accounts Payable (AP) subsidiary
ledger set up for that company. You will not be required to set up new AR or AP subsidiary
ledgers.
The company maintains perpetual inventory records. Cost of goods sold will be provided to you
for all sales and sales returns and allowances.
To prepare the deposit slip, list the received checks and cash receipts and then total. Record the
total deposit in the check register. Do not make an entry in the cash receipts journal as the
transactions have already been individually recorded.
Note that you do NOT need to sign checks. You will prepare the checks, which will be forwarded
to Ben Hill, along with appropriate documentation, for approval. He will then sign the checks
and send them to the vendors.
Adjusting entries are prepared monthly.
Note that closing entries are prepared monthly in this project so that students can see the
process. In the real world, closing entries are generally prepared annually.
Note that in this project all amounts are rounded to the nearest dollar to simplify things for the
student. In the real world, pennies exist (!) and therefore amounts would not be rounded.
2
GETTING STARTED
 To get your project in order, put it in a ½” or 1” binder. You may choose to put your transactions
in a separate binder while working on your project. Two ½” binders work very well. When
submitting your project, please submit in one file.
 Transactions numbered 1-12 have been completed for you. Follow these transactions through
to understand the process. If you are confused on a subsequent transaction, you can refer back
to this initial set of transactions to understand how the transaction should be processed.
 Referencing:
a. When you post a transaction to a subsidiary ledger from a journal, you should put a
checkmark in the “posting reference” (post. ref.) column of the journal to show that the
posting process is complete.
b. In the subsidiary ledger, you should record the source journal (either SJ, PJ, CRJ, CDJ, or
GJ) in the “post. ref.” column.
 Below is some guidance to assist you while completing the project.
1. When you receive an invoice for the purchase of inventory or other items/services
on account:
a. Enter it in the Purchases Journal (PJ) (p. 13);
b. Enter it in the subsidiary ledger (p. 31-35).
2. When you sell inventory on account:
a. Enter it in the Sales Journal (SJ) (p. 12);
b. Enter it in the subsidiary ledger (p. 31-35).
3. When you receive a check:
a. Enter it in the Cash Receipts Journal (CRJ) (p. 14);
b. Enter it in the subsidiary ledger (p. 31-35) if necessary;
c. Record it on the Deposit Ticket to be deposited in the bank at the end of the
week (transaction numbers 12, 24, 45, and 68).
4. When you receive an Interoffice Memo/invoice that requires you to write a check:
a. Write a check for it;
b. Enter it in the Cash Disbursements Journal (CDJ) (p. 15);
c. Enter it in the subsidiary ledger if necessary (p. 31-35);
d. Enter it in the Check Register (p. 10).
5. When you receive an Interoffice Memo that requires you to record cash sales for
the week:
a. Enter it in the CRJ (p. 14);
b. Record it on the Deposit Ticket to be deposited in the bank at the end of the
week (transaction numbers 12, 24, 45, and 68).
6. When your Deposit Ticket is complete:
a. Enter the total in the Check Register (p. 10) at the end of the week.
b. Verify that your Check Register total matches the check figure provided.
7. Miscellaneous Items:
a. Returns must be recorded in the GJ (p. 16).
b. Post to subsidiary ledger if necessary (p. 31-35).
3
END-OF-MONTH TASKS (Continue on to this page after recording all transactions into the journals. You
are about halfway done with your project when you reach this point.)
1. Post journal amounts to the general ledger (GL) (pgs 19-30):
a. Record the total of each column in each of the special journals on the bottom line of
each journal. Make sure total debits equal total credits in each journal.
b. Post totals from the special journals into the GL. Enter the account number(s) below the
total to indicate the posting process is complete. In your GL Posting Reference (Post.
Ref.) column, record the source journal (either SJ, PJ, CRJ, CDJ). See chapter 7 for
guidance, if necessary.
Hint: Remember that transactions 1-12 have been journalized but not posted into the
GL.
c. After posting individual items in the “other” column from special journals to the GL,
enter the account number in the “post. ref.” column for that line in the special journal.
In your GL “post. ref.” column, record the source journal (either SJ, PJ, CRJ, CDJ).
d. Post transactions recorded in the GJ to the GL. Note that in your GJ, you might have a
reference box that has both a checkmark and an account number to indicate that it was
posted to a GL account and a subsidiary ledger (AR or AP) account (you must record any
entries to AP or AR to the general ledger account in addition to the subsidiary ledger
account). In that case, it would look something like this: √/120
2. Prepare a bank reconciliation:
a. Using the May Bank Reconciliation (p. 36) for guidance, complete the Bank
Reconciliation for June (p. 38).
b. See the steps below. See also Chapter 8 if necessary.
i. From the June Bank Statement (p. 37), fill in the June 30 bank balance on the
June Bank Reconciliation.
ii. Add deposits in transit (DIT). These are any deposits that are listed as DIT on
May’s bank reconciliation or are in your check register for June that are NOT
reported on the June Bank Statement.
iii. Subtract outstanding (O/S) checks. These are any checks that are listed as O/S
checks on May’s bank reconciliation or are in your check register for June that
are NOT reported on the June Bank Statement.
iv. Check the prior month’s bank reconciliation to confirm that the prior months
transactions have cleared.
v. Calculate a subtotal for Adjusted Bank Balance.
vi. Enter the Cash Balance per Books, which you can get from either your GL or
your Check Register.
vii. Make any additions or subtractions that are on the Bank Statement that are not
already recorded in the books.
viii. Calculate a subtotal for the Adjusted Book Balance. This should equal the
Adjusted Bank Balance.
c. Record the bank fee from the Bank Reconciliation in the GJ-AJE (p. 17) and post it to the
GL. Use the bank fee account. Remember to complete your posting references.
d. Also record any necessary adjustments in your Check Register. When you are done with
this process, the Adjusted Cash Balance should equal the ending balance in your Check
Register and your GL Cash balance.
4
3. Prepare the Schedule of Accounts Receivable and Schedule of Accounts Payable (p. 39). Use
the Schedules from May as a guide (p. 8). Remember that this is simply a list of who we owe
money to and who owes money to us. List the companies with ending balances on the
schedules. Remember to include a total. The total should tie to your ending balance on your
worksheet for AR and AP.
4. Prepare a trial balance for June 30 on the worksheet (p. 40-41) (complete the first DR/CR
column in this step, pulling numbers from your general ledger (p. 19-30)). See chapter 4 for
guidance if necessary.
5. Continue completing the worksheet (p. 40-41) by entering the following adjusting entries for
the month of June (see Chapter 3 for a review of adjusting journal entries if needed):
1. Record depreciation for the month of June for the tools and the vehicle. Depreciation
expense is $260 for tools and $360 for the vehicle.
2. Prepare an adjusting entry for insurance expense to record amount expired during the
month of June.
3. Accrue interest for the note payable. (See Transaction #2 for source documentation for
the note payable.)
4. At the end of the month, a physical count showed inventory on hand to be $32,250.
(You may need to look up “shrinkage” in the book to refresh your memory on how this
journal entry should be recorded.)
5. At the end of the month, a physical count showed office supplies on hand to be $500.
6. Accrued salaries and wages for the last two days in June amounted to $1,200.
6. Complete the rest of the worksheet.
7. Prepare the Income Statement, Statement of Owner’s Equity, and Balance Sheet for June (p.
42-44). Use the financial statements from May for a guide (p 6-7). They may not match exactly
as June’s accounts may differ.
8. Journalize the adjusting entries in the General Journal (p. 17) and post to the GL (p. 19-30).
9. Journalize the closing entries in General Journal (p. 18) and post to the GL (p. 19-30).
10. Prepare the Post-Closing Trial Balance as of June 30 (p. 45). The amounts in your Post-Closing
Trial Balance should come from your GL (p. 19-30). List any accounts from your GL that have an
ending balance on your Post-Closing Trial Balance. Add your DR and CR to make sure they equal.
5
Klondike Jewelry
Income Statement
For the Month Ended May 31, 2023
Sales
Less: Sales Discounts
Sales Returns & Allowances
72,380
538
200
738
Net Sales
Cost of Goods Sold
71,642
42,542
Gross Profit
29,100
Operating Expenses
Selling Expenses
Advertising Expense
General and Administrative Expenses
Delivery Expense
Salaries & Wages Expense
Repair Expense
Telephone Expense
Utilities Expense
Rent Expense
Depreciation Expense – Tools
Depreciation Expense – Vehicle
Bank Service Fee
50
17,600
196
284
552
3,200
136
150
25
Total Operating Expenses
24,593
Income from Operations
4,507
2,400
Other Income and Expenses
Interest Expense
10
4,497
Net Income
Klondike Jewelry
Statement of Owner’s Equity
For the Month Ended May 31, 2023
Capital May 1, 2023
Add: Net Income
122,353
4,497
Capital May 31, 2023
126,850
6
Klondike Jewelry
Balance Sheet
As of May 31, 2023
Assets
Current Assets
Cash
Accounts Receivable
Merchandise Inventory
Supplies
27,574
3,310
80,158
908
Total Current Assets
111,950
Plant Assets
Tools
Less: Accumulated Depreciation – Tools
Vehicle
Less: Accumulated Depreciation – Vehicle
13,000
6,500
6,500
18,000
7,200
10,800
Total Plant Assets
17,300
Total Assets
129,250
Liabilities and Owner’s Equity
Current Liabilities
Accounts Payable
2,400
Total Current Liabilities
2,400
Total Liabilities
2,400
Owner’s Equity
Owner’s Capital
126,850
Total Liabilites and Owners’ Equity
129,250
7
Klondike Jewelry
Schedule of Accounts Receivable
As of May 31, 2023
Account
Alaskan Knife Co.
Loosey Moosey
Amount
1,800
1,510
3,310
Total
Klondike Jewelry
Schedule of Accounts Payable
As of May 31, 2023
Account
Wintergreen Shop
Amount
2,400
2,400
Total
8
Klondike Jewelry
Chart of Accounts
Asset Accounts
100 Cash
120 Accounts Receivable
121 Alaskan Knife Co.
122 Furocious Outfitters
123 The Gathering Place
124 The Gift Horse
125 Loosey Moosey
126 The Princess’s Turret
130 Prepaid Insurance
140 Merchandise Inventory
150 Supplies
160 Tools
161 Accumulated Depreciation – Tools
162 Vehicle
163 Accumulated Depreciation – Vehicle
Liability & Owner’s Equity Accounts
200 Accounts Payable
201 AK Marketeers
202 A’Okay Jewelers
203 The Bead Shop
204 Glass n’ Twine
205 Johnny Apple Bead
206 Maggie Mae’s
207 Wintergreen Shop
210 Interest Payable
220 Salaries & Wages Payable
230 Notes Payable
300 Owner’s Capital
310 Owner’s Withdrawals
320 Income Summary
Revenue & Expense Accounts
400 Sales
401 Sales Discounts
402 Sales Returns & Allowances
500 Cost of Goods Sold
600 Salaries & Wages Expense
601 Repair Expense
602 Delivery Expense
603 Telephone Expense
604 Utilities Expense
605 Rent Expense
606 Advertising Expense
607 Bank Service Fee
608 Insurance Expense
609 Depreciation Expense – Tools
610 Depreciation Expense – Vehicle
611 Inspection Expense
612 Supplies Expense
613 Miscellaneous Income or Expense (Plug Only)
800 Interest Expense
9
Klondike Jewelry
Check Register
DATE
CHECK NO.
6/1
PAYEE/DESCRIPTION
WITHDRAWAL
DEPOSIT
Beginning Balance
BALANCE
27,574
6/4
8100
Wintergreen Shop
2,352
25,222
6/7
8101
Glass ‘n’ Twine
2,940
22,282
6/8
8102
Quik Fix
340
21,942
6/8
8103
Mary Hill – Payroll
4,400
17,542
6/8
Weekly Deposit
53,476
10
71,018
Klondike Jewelry
Check Register
DATE
CHECK NO.
PAYEE/DESCRIPTION
WITHDRAWAL
11
DEPOSIT
BALANCE
SJ
Klondike Jewelry
Sales Journal
Date
Account Debited
Inv. No.
Post. Ref.
Acct. Rec. Dr.
Sales Cr.
COGS Dr.
Merch Inv Cr.
6/4/2023
Furocious Outfitters
320

3,600
2,160
6/7/2023
The Gathering Place
321

880
528
12
Klondike Jewelry
Purchases Journal
Date
6/1/2023
Account
Glass ‘n’ Twine
PJ
Inv. No.
Terms
Post. Ref.
Merch.
Inv.
DR
276
2/10, N/30

3000
13
Office
Supplies
DR
Other
Accounts
DR
Accounts
Payable
CR
3,000
Klondike Jewelry
Cash Receipts Journal
Date
6/1/2023
6/1/2023
6/5/2023
6/7/2023
Account Credited
Note Payable
Loosey Moosey
Alaskan Knife Co.
Post.
Ref.


Cash
Dr.
CRJ
Sales
Account
Discounts Dr. Receivable Cr.
40,000
1,480
1,764
10,232
14
Sales
Cr.
Other
Accounts Cr.
COGS Dr.
Merch Inv
Cr.
40,000
30
36
1,510
1,800
10,232
6,140
Klondike Jewelry
Cash Disbursements Journal
Date
Check
No.
Payee
6/4/2023
6/7/2023
6/8/2023
6/8/2023
8100
8101
8102
8103
Wintergreen Shop
Glass ‘n’ Twine
Quik Fix
Mary Hill
Post.
Ref.
Account Debited
Wintergreen Shop
Glass ‘n’ Twine
Repair Expense
CDJ
Other
Accounts Dr.
Salaries &
Wages
Expense Dr.


340
4,400
15
Accounts
Payable Dr.
Merch Inv
Cr.
2,400
3,000
48
60
Cash Cr.
2,352
2,940
340
4,400
Klondike Jewelry
General Journal
Date
Account Titles and Explanations
16
GJ
Post. Ref.
Debit
Credit
Klondike Jewelry, Inc.
General Journal – Adjusting Journal Entries
Date
Account Titles and Explanations
17
Post. Ref.
Debit
Credit
Klondike Jewelry, Inc.
General Journal – Closing Entries
Date
Account Titles and Explanations
18
Post. Ref.
Debit
Credit
Klondike Jewelry
General Ledger
Account
Date
Cash
Description
6/1/2023
Beginning Balance
Account
Accounts Receivable
Date
Beginning Balance
Account
Prepaid Insurance
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
19
Debit
Acct. No.
100
Credit
Balance
27,574
Debit
Acct. No.
120
Credit
Balance
3,310
Debit
Acct. No.
130
Credit
Balance

Klondike Jewelry
General Ledger
Account
Merchandise Inventory
Date
Description
6/1/2023
Beginning Balance
Account
Supplies
Date
Beginning Balance
Account
Tools
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
20
Debit
Acct. No.
140
Credit
Balance
80,158
Debit
Acct. No.
150
Credit
Balance
908
Debit
Acct. No.
160
Credit
Balance
13,000
Klondike Jewelry
General Ledger
Account
Accumulated Depreciation – Tools
Date
Description
6/1/2023
Beginning Balance
Account
Vehicle
Date
Post.
Ref.

Description
6/1/2023
Beginning Balance
Account
Accumulated Depreciation – Vehicle
Date
Description
6/1/2023
Post.
Ref.

Post.
Ref.

Beginning Balance
21
Debit
Acct. No.
161
Credit
Balance
6,500
Debit
Acct. No.
162
Credit
Balance
18,000
Debit
Acct. No.
163
Credit
Balance
7,200
Klondike Jewelry
General Ledger
Account
Date
Accounts Payable
Description
6/1/2023
Beginning Balance
Account
Interest Payable
Date
Beginning Balance
Account
Salaries & Wages Payable
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
22
Debit
Acct. No.
200
Credit
Balance
2,400
Debit
Acct. No.
210
Credit
Balance

Debit
Acct. No.
220
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Notes Payable
Description
6/1/2023
Beginning Balance
Account
Owner’s Capital
Date
Beginning Balance
Account
Owner’s Withdrawals
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
23
Debit
Acct. No.
230
Credit
Balance

Debit
Acct. No.
300
Credit
Balance
126,850
Debit
Acct. No.
310
Credit
Balance

Klondike Jewelry
General Ledger
Account
Income Summary
Date
Description
6/1/2023
Beginning Balance
Account
Sales
Date
Beginning Balance
Account
Sales Discounts
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
24
Debit
Acct. No.
320
Credit
Balance

Debit
Acct. No.
400
Credit
Balance

Debit
Acct. No.
401
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Sales Returns & Allowances
Description
6/1/2023
Beginning Balance
Account
Cost of Goods Sold
Date
Beginning Balance
Account
Salaries and Wages Expense
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
25
Debit
Acct. No.
402
Credit
Balance

Debit
Acct. No.
500
Credit
Balance

Debit
Acct. No.
600
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Repair Expense
Description
6/1/2023
Beginning Balance
Account
Delivery Expense
Date
Beginning Balance
Account
Telephone Expense
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
26
Debit
Acct. No.
601
Credit
Balance

Debit
Acct. No.
602
Credit
Balance

Debit
Acct. No.
603
Credit
Balance

Klondike Jewelry
General Ledger
Account
Utilities Expense
Date
Description
6/1/2023
Beginning Balance
Account
Rent Expense
Date
Beginning Balance
Account
Advertising Expense
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
27
Debit
Acct. No.
604
Credit
Balance

Debit
Acct. No.
605
Credit
Balance

Debit
Acct. No.
606
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Bank Service Fee
Description
6/1/2023
Beginning Balance
Account
Insurance Expense
Date
Beginning Balance
Account
Depreciation Expense – Tools
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
28
Debit
Acct. No.
607
Credit
Balance

Debit
Acct. No.
608
Credit
Balance

Debit
Acct. No.
609
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Depreciation Expense – Vehicle
Description
6/1/2023
Beginning Balance
Account
Inspection Expense
Date
Beginning Balance
Account
Supplies Expense
6/1/2023
Post.
Ref.

Description
6/1/2023
Date
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
29
Debit
Acct. No.
610
Credit
Balance

Debit
Acct. No.
611
Credit
Balance

Debit
Acct. No.
612
Credit
Balance

Klondike Jewelry
General Ledger
Account
Date
Misc. Income or Expense (Plug Only)
Description
6/1/2023
Beginning Balance
Account
Interest Expense
Date
6/1/2023
Post.
Ref.

Post.
Ref.

Description
Beginning Balance
30
Debit
Acct. No.
613
Credit
Balance

Debit
Acct. No.
800
Credit
Balance

Klondike Jewelry
Subsidiary Ledger
Account
Date
AR – Alaskan Knife Co.
Post.
Ref.
Description
6/1/2023 Beginning Balance

6/5/2023
CRJ
Account
Date
Post.
Ref.
Description

6/4/2023
SJ
Date
Debit
Post.
Ref.
6/1/2023 Beginning Balance

6/7/2023
SJ
31
Credit
Balance
1,800
0
Acct. No.
122
Credit
Balance

3,600
AR – The Gathering Place
Description
121
1,800
AR – Furocious Outfitters
6/1/2023 Beginning Balance
Account
Debit
Acct. No.
Debit
3,600
Acct. No.
123
Credit
Balance

880
880
Klondike Jewelry
Subsidiary Ledger
Account
Date
AR – The Gift Horse
Post.
Ref.

Description
6/1/2023 Beginning Balance
Account
AR – Loosey Moosey
6/1/2023 Beginning Balance
Post.
Ref.

6/1/2023
CRJ
Date
Account
Date
Debit
Description
Debit
Description
6/1/2023 Beginning Balance
32
124
Credit
Balance
Acct. No.
125
Credit
Balance
1,510
AR – The Princess’s Turret
Post.
Ref.

Acct. No.
Debit
1,510
0
Acct. No.
126
Credit
Balance

Klondike Jewelry
Subsidiary Ledger
Account
Date
AP – AK Marketeers
Post.
Ref.

Description
6/1/2023 Beginning Balance
Account
Date
Post.
Ref.

Description
Date
Debit
Post.
Ref.

6/1/2023 Beginning Balance
33
Credit
Balance
Acct. No.
202
Credit
Balance

AP – The Bead Shop
Description
201

AP – A’Okay Jewelers
6/1/2023 Beginning Balance
Account
Debit
Acct. No.
Debit
Acct. No.
203
Credit
Balance

Klondike Jewelry
Subsidiary Ledger
Account
Date
AP – Glass ‘n’ Twine
Post.
Ref.

PJ
CDJ
Description
6/1/2023 Beginning Balance
6/1/2023
6/7/2023
Account
Date
Post.
Ref.

Description
Date
Debit
Post.
Ref.

6/1/2023 Beginning Balance
34
Credit
Balance
3,000
3,000

Acct. No.
205
Credit
Balance

AP – Maggie Mae’s
Description
204
3,000
AP – Johnny Apple Bead
6/1/2023 Beginning Balance
Account
Debit
Acct. No.
Debit
Acct. No.
206
Credit
Balance

Klondike Jewelry
Subsidiary Ledger
Account
Date
AP – Wintergreen Shop
Post.
Ref.

CDJ
Description
6/1/2023 Beginning Balance
6/4/2023
35
Debit
2,400
Acct. No.
207
Credit
Balance
2,400

Klondike Jewelry
Bank Reconciliation
As of May 31, 2023
Cash Balance per Bank
28,220
Add: Deposits in Transit
5/29/2023
5/30/2023
5/30/2023
570
239
1,691
2,500
Deduct: Outstanding Checks
Check #8097
Check #8098
Check #8099
446
1,200
1,500
3,146
Adjusted Bank Balance
27,574
Cash Balance per Books
27,599
Deduct: Bank Service Fee
25
Adjusted Book Balance
27,574
36
Buck Bank
1000 Main Street
Anchorage, AK 99501
Klondike Jewelry
P.O. Box 123456
Denali National Park, AK
99755
Bank Statement
Account No. 123456789
Statement Date: June 30, 2023
Account Summary
Balance June 1, 2023
Deposits Made
Checks Processed
Miscellaneous Credits
Miscellaneous Debits
Balance June 30, 2023
Date
6/1
6/1
6/1
6/2
6/2
6/3
6/4
6/7
6/8
6/8
6/8
6/12
6/14
6/14
6/15
6/15
6/17
6/17
6/20
6/20
6/21
6/21
6/21
6/22
6/23
6/23
6/25
6/30
Check
Number
8099
8098
8100
8101
8102
8103
8104
8105
8106
8107
8108
8109
8110
8111
8112
8113
8114
8115
8116
8117
Description
Beginning Balance
Deposit
Gold Fever
Deposit
Great East Jade Co.
Deposit
Wintergreen Shop
Glass n’ Twine
Deposit
Quick Fix
Mary Hill
UPS
Ben Hill
Deposit
Mary Hill
Aurora Insurance
The Bead Shop
Yukon Jewelry Supply
AK Marketeers
Pens R Us
Deposit
Mary Hill
A’Okay Jewelers
Division of Fire and Safety
Julie Swanson
Johnny Apple Bead
Arctic Phone Company
Service Fee
28,220
104,917
44,512
25
88,600
Debits
Credits
570
1,500
1,691
1,200
239
2,352
2,940
53,476
340
4,400
220
1,800
18,476
4,400
3,600
2,400
5,575
1,730
1,265
30,465
4,400
1,900
975
560
2,635
320
25
37
Balance
28,220
28,790
27,290
28,981
27,781
28,020
25,668
22,728
76,204
75,864
71,464
71,244
69,444
87,920
83,520
79,920
77,520
71,945
70,215
68,950
99,415
95,015
93,115
92,140
91,580
88,945
88,625
88,600
Klondike Jewelry
June Bank Reconciliation
Cash Balance per Bank
Adjusted Bank Balance
Cash Balance per Books
Adjusted Book Balance
38
Klondike Jewelry
Schedule of Accounts Receivable
June 30, 2023
Account
Amount
Total
Klondike Jewelry
Schedule of Accounts Payable
June 30, 2023
Account
Amount
39
Klondike Jewelry
Worksheet
For the Month Ended June 30, 2023
Acct.
No.
Account Title
100
Cash
120
Accounts Receivable
130
Prepaid Insurance
140
Merchandise Inventory
150
Supplies
160
Tools
161
A/D – Tools
162
Vehicle
163
A/D – Vehicle
200
Accounts Payable
210
Interest Payable
220
Salaries & Wages Payable
230
Notes Payable
300
Owner’s Capital
310
Owner’s Withdrawals
400
Sales
401
Sales Discounts
402
Sales Returns & Allowances
500
Cost of Goods Sold
600
Salaries & Wages Expense
601
Repair Expense
602
Delivery Expense
603
Telephone Expense
604
Utilities Expense
605
Rent Expense
606
Advertising Expense
607
Bank Service Fee
608
Insurance Expense
609
Depreciation Expense – Tools
610
Depreciation Expense – Vehicle
611
Inspection Expense
612
Supplies Expense
613
Miscellaneous Income or Expense (Plug Only)
800
Trial Balance
Debit
Interest Expense
Total
Net Income
Total
40
Adjustments
Credit
Debit
Credit
Acct.
No.
Adjusted Trial Balance
Debit
Credit
Income Statement
Debit
Credit
100
120
130
140
150
160
161
162
163
200
210
220
230
300
310
400
401
402
500
600
601
602
603
604
605
606
607
608
609
610
611
612
613
800
41
Balance Sheet and SOE
Debit
Credit
Klondike Jewelry
Income Statement
For the Month Ended June 30, 2023
42
Klondike Jewelry
Statement of Owner’s Equity
For the Month Ended June 30, 2023
43
Klondike Jewelry
Balance Sheet
As of June 30, 2023
44
Klondike Jewelry
Post-Closing Trial Balance
As of June 30, 2023
Account
Debit
45
Credit
Transaction 1
Glass ‘n’ Twine
INVOICE
246 Carpet Rd.
Talkeetna, Alaska 99676
(907) 733-5678
SOLD TO:
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
June 1, 2023
INVOICE DATE
Invoice #
TERMS
Shipping Point
SHIPPED TO:
May 29, 2023
276
2/10, n/30
Denali, AK
Same
QUANTITY
2
1
DESCRIPTION
(907) 733-5678
email: stayglassy@jewelry.ak
AMOUNT
$500
$2,000
$1,000
$2,000
Fancy Beads
Beading Supplies Kit
DIRECT ALL INQUIRIES TO:
Cynthia Glass
UNIT PRICE
SUBTOTAL
$3,000
FREIGHT

MAKE ALL CHECKS PAYABLE TO:
Glass ‘n’ Twine
Attn: Accounts Receivable
246 Carpet Rd.
Talkeetna, Alaska 99676
THANK YOU FOR YOUR BUSINESS!
Transaction 1
$3,000
Transaction 2
Promissory Note
Date: June 1, 2023
I, Ben Hill of Klondike Jewelry, do promise to repay Anchorage
Credit Union the principal sum of $40,000 by May 31, 2033.
Interest is payable at 5% simple interest annually, every May 31.
Signed,
Ben Hill
Transaction 2
Transaction 3
Loosey Moosey
5987 Alfred Circle
Anchorage, AK 99501
(907) 994-5678
5743
June 1, 2023
Date:_05/28/2023_
Pay To The Order Of: __Klondike Jewelry
________________
$1,480.00
One thousand four hundred eighty and 00/100…………………………………………………… DOLLARS
MEMO: __Payment of Invoice #300_______
Transaction 3
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Transaction 4
INVOICE
Date:
Invoice #:
To:
June 4, 2023
320
Furocious Outfitters
105 W 4th Avenue
Anchorage, AK 99501
(907) 277-8414
Salesperson
Klondike Jewelry
Job
Klondike, Joe
Qty.
Payment Terms
Due Date
2/10, n/30
July 4, 2023
Description
Unit Price
Line Total
2
Benson Bracelet, Jade
$700.00
$1,400.00
3
Jeweled Ring
400.00
1,200.00
5
Specialty Necklace
200.00
1,000.00
Subtotal
3,600.00
Shipping

Total
$3,600.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $2,160
Transaction 4
Transaction 5
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 4, 2023
Issue a check to Wintergreen Shop for payment of Invoice #1128 less discount.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8100
Date:
Pay To The Order Of:
June 4, 2023
$ 2,352.00
Wintergreen Shop
Two thousand three hundred fifty-two and 00/100—————————-
DOLLARS
Ben Hill
MEMO: for payment of invoice #1128
Transaction 5
Transaction 6
Alaskan Knife Co.
923 Elephant Way
Willow, AK 99688
(907) 859-3672
13975
June 5, 2023
Date: 05/31/2023
Pay To The Order Of: __Klondike Jewelry
_________________
$1,764.00
One thousand seven hundred sixty-four and 00/100………………………..……………………………………. DOLLARS
MEMO: Payment for Invoice #297_________
Transaction 6
`tÜç _Éâ|áx hÄâ
Transaction 7
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 7, 2023
Record cash sales of $10,232 and cost of goods sold of $6,140 for the week.
Transaction 7
Transaction 8
INVOICE
Date:
Invoice #:
To:
June 7, 2023
321
The Gathering Place
1234 Wishing Circle
Anchorage, AK 99501
(907) 987-6543
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 7, 2023
Description
Unit Price
Line Total
1
Jeweled Ring
$400.00
$400.00
2
Crystal Earrings
140.00
280.00
1
Specialty Necklace
200.00
200.00
Subtotal
880.00
Shipping

Total
$880.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $528
Transaction 8
Transaction 9
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 7, 2023
Issue a check to Glass ‘n’ Twine for payment of invoice #276, less discount.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8101
Date:
Pay To The Order Of:
June 7, 2023
$ 2,940
Glass ‘n’ Twine
Two thousand nine hundred forty and 00/100————————————
DOLLARS
Ben Hill
MEMO: for payment of invoice # 276
Transaction 9
Transaction 10
INVOICE
467 Gladson St.
Talkeetna, AK 99676
SOLD TO:
June 8, 2023
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
QUANTITY
INVOICE DATE
Invoice #
June 8, 2023
1074
Shipping Point
Denali, AK
DESCRIPTION
1
UNIT PRICE
AMOUNT
340.00
340.00
Thread Burner Repair
$340.00
Total:
DIRECT ALL INQUIRIES TO:
Alex Gladson
(907) 733-5678
email: MrFixIt@toolsupplies.ak
MAKE ALL CHECKS PAYABLE TO:
Quik Fix LLC
Attn: Accounting
467 Gladson St.
Talkeetna, Alaska 99501
THANK YOU FOR YOUR BUSINESS!
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8102
Date:
Pay To The Order Of:
June 8, 2023
$340.00
Quik Fix
Three hundred forty and 00/100—————————————————-
DOLLARS
Ben Hill
MEMO: Thread Burner Repair
Transaction 10
Transaction 11
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 8, 2023
Issue a check for $4,400 to Mary Hill for weekly payroll.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8103
Date:
Pay To The Order Of:
June 8, 2023
$ 4,400
Mary Hill
Four thousand four hundred and 00/100——————————————
DOLLARS
Ben Hill
MEMO: for weekly payroll
Transaction 11
Transaction 12
Fill out the deposit ticket for June 8 and record in the Check Register.
DEPOSIT TICKET
Klondike Jewelry
CASH  50,232
123 Denali Park Street
5743
 1,480
Denali, AK 99755
13975
 1,764
(907) 123-4567


Date
June 8
20

23

BUCK BANK
3714 Money Lane
Anchorage, AK 99501
SUBTOTAL  53,476
LESS CASH BACK
TOTAL

$
0
53,476
After this transaction, the balance in the check register should be $ 71,018.
**Note that the total cash deposited today is from the following:
$40,000 Transaction 2 – Note Payable
$10,232 Transaction 7 – Cash Sales
$50,232 Total Cash Deposited for Current Week
Transaction 12
Transaction 13
Invoice
336 Ginger Rd, Anchorage, AK 99501 (907) 658-9987
Customer:
June 9, 2023
Invoice No. 152
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
klondike@jewelry.ak
(907) 123-4567
Invoice Date: June 5, 2023
Payment Terms: n/30
Description
Qty
Unit Price
Amount
Solid gold pieces
10
200.00
2,000.00
Supply kit
1
400.00
400.00
Balance Due
Transaction 13
2,400.00
Transaction 14
INVOICE
Date:
Invoice #:
To:
June 9, 2023
322
The Gift Horse
786 Rascal Ct.
Anchorage, AK 99501
(907) 987-9900
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 9, 2023
Description
Unit Price
Line Total
5
18k Gold Chain, 18” Long
$400.00
$2,000.00
4
Large Charm, Ivory
400.00
1,600.00
1
Charm, Gold
200.00
200.00
Subtotal
3,800.00
Shipping

Total
$3,800.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $2,280
Transaction 14
Transaction 15
INVOICE
To:
Date:
June 9, 2023
Invoice #:
323
The Princess’s Turret
13 Camelot Ct.
Anchorage, AK 99501
(907) 456-6868
Salesperson
Klondike Jewelry
Job
Klondike, Joe
Qty.
Payment Terms
Due Date
2/10, n/30
July 9, 2023
Description
Unit Price
Line Total
10
10k Gold Chain, 16” Long
$150.00
$1,500.00
5
Small Charm, Ivory
200.00
1,000.00
5
Small Charm, Jade
255.00
1,250.00
1
Benson Bracelet, Ivory
650.00
650.00
Subtotal
4,400.00
Shipping

Total
$4,400.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $2,640
Transaction 15
Transaction 16
Furocious Outfitters
35 S. 57th Avenue
Anchorage, AK 99504
(907) 777-2222
9786
June 10, 2023
Date: June 9, 2023
Pay To The Order Of: ___Klondike Jewelry
________
_
_
$3,528.00
Three thousand five hundred twenty-eight and 00/100……………………..…………………… DOLLARS
MEMO: Payment for Invoice #320____
Grizzly Adams
Transaction 16
Transaction 17
The Gathering Place
1234 Wishing Way
Anchorage, AK 99501
(907) 987-6543
2721
June 12, 2023
Date: 06/09/2023
Pay To The Order Of: _Klondike Jewelry _
___
____
$862.00
Eight hundred sixty-two and 00/100………………………………..………………………………………….. Dollars
Patty Planner
Memo: Payment for Invoice #321____
Transaction 17
Transaction 18
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 12, 2023
Issue a check for $220.00 to UPS for shipping charges incurred on sales invoice
#322.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8104
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 18
Transaction 19
5689 Shady Grove Ave. Suite A
INVOICE NO.
625
Anchorage, AK 99517
(907) 564-5555
3Marketeers@advertising.ak
TO
DATE
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
June 10, 2023
June 13, 2023
JOB
PAYMENT TERMS
NA-62574
n/15
DESCRIPTION
Quantity
Internet Advertising
1
Unit Price
1,730.00
TOTAL DUE
Transaction 19
TOTAL
1,730.00
Transaction 20
INVOICE
Date:
Invoice #:
To:
June 14, 2023
324
Furocious Outfitters
105 W 4th Avenue
Anchorage, AK 99501
(907) 277-8414
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 14, 2023
Description
2
Jeweled Ring
1
Unit Price
Line Total
$300.00
$600.00
Specialty Necklace
150.00
150.00
2
10k Gold Chain, 16” Long
200.00
400.00
2
Small Charm, Jade
275.00
550.00
Subtotal
1,700.00
Shipping

Total
$1,700.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $1,020
Transaction 20
Transaction 21
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 14, 2023
Issue a check for $1,800 to Ben Hill for personal use.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8105
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 21
Transaction 22
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 14, 2023
Issue a check for $4,400 to Mary Hill for weekly payroll.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8106
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 22
Transaction 23
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 14, 2023
Record cash sales of $14,086 and cost of goods sold of $8,452 for the week.
Transaction 23
Transaction 24
Fill out the deposit ticket for June 14 and record in the Check Register.
DEPOSIT TICKET
Klondike Jewelry
CASH 
123 Denali Park Street

Denali, AK 99755

(907) 123-4567


Date

20

BUCK BANK
3714 Money Lane
Anchorage, AK 99501
SUBTOTAL 
LESS CASH BACK
TOTAL

$
After this transaction, the balance in the check register should be $83,074.
Transaction 24
Transaction 25
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 15, 2023
Issue a check for $3,600 to Aurora Insurance for the annual insurance premium.
The contract period covers June 1, 2023 through May 31, 2024.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8107
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 25
Transaction 26
To: The Gift Horse
Date: June 15, 2023
786 Rascal Ct.
Anchorage, AK 99501
(907) 987-9000
Subject: Account Credit
Dear Ed,
As per our telephone conversation, we have credited $400 to your
account for damaged goods from invoice #322. We hope this resolves
any problems and look forward to doing business with you in the future.
Sincerely,
Ben Hill
Klondike Jewelry
123 Denali Park Street, Denali, AK 99755
Phone: (907) 123-4567 Fax: (907) 765-4321
klondike@jewelry.ak
Thank you for your business!
Transaction 26
Transaction 27
The Gift Horse
786 Rascal Ct.
Anchorage, AK 99501
357
June 16, 2023
(907) 987-9900
Date: June 15, 2023
Pay To The Order Of: _Klondike Jewelry _
___
____
$3,332.00
Three thousand three hundred thirty two and 00/100………………………..………………………….. Dollars
Ed D. Horse
Memo: Payment for Invoice #322____
Transaction 27
Transaction 28
INVOICE
Date:
Invoice #:
To:
June 16, 2023
325
Alaskan Knife Co
923 Elephant Way
Anchorage, AK 99501
(907) 336-7985
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 16, 2023
Description
Unit Price
Line Total
1
Benson Bracelet, Ivory
$650.00
$650.00
2
18k Gold Chain, 18” Long
400.00
800.00
2
10k Gold Chain, 16” Long
200.00
400.00
1
Small Charm, Jade
275.00
275.00
1
Large Charm, Ivory
400.00
400.00
1
Charm, Gold
200.00
200.00
Subtotal
2,725.00
Shipping

Total
$2,725.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $1,635
Transaction 28
Transaction 29
Invoice
Invoice Number:
1969
Date:
June 13, 2023
To:
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
2242 Rustic Ct.
Anchorage, AK 99507
Phone: (907) 336-6633
Fax: (907) 777-8899
Description
Various Beads
Beading Wire
Authorized by:
Skip Stone
Terms:
N/30
Price
$ 1,375
525
50 yards
Total
June 16, 2023
Transaction 29
$1,900
Transaction 30
The Princess’s Turret
13 Camelot Ct.
Anchorage, AK 99501
722
June 17, 2023
(907) 456-6868
Date: June 13, 2023
Pay To The Order Of: _Klondike Jewelry
___
____
$4,312.00
Four thousand three hundred twelve and 00/100………………………..………………………….. Dollars
Katherine Windsor
Memo: Payment for Invoice #323____
Transaction 30
Transaction 31
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 17, 2023
Issue a check to The Bead Shop for payment of invoice #152.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8108
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 31
Transaction 32
Yukon Jewelry Supply
789 Sitka Circle
Anchorage, AK 99501
Phone: (907) 233-3322
Ryan@yukon.ak
INVOICE
Date
Invoice #
For:
Bill To:
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
June 17, 2023
1297
PO # K-2735
June 17, 2023
(907) 123-4567
Quantity
Description
Unit price
1
Tool kit, jewelry making
6,250.00
Amount
5,575.00
Subtotal
Make all checks payable to Yukon Jewelry Supply. If
you have any questions concerning this invoice,
contact Ryan at (907) 233-3322,Ryan@yukon.ak.
Thank you for your business!
5,575.00
Discount

Balance due
$5,575.00
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8109
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
**HINT: Debit the “Tools” account.**
Transaction 32
Transaction 33
Invoice
Johnny Apple Bead
Invoice No.
Customer Name
99215 Rudolf Way
Address
Homer, AK 99676
1774
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 926-1845
Phone
(907) 123-4567
www.beads.com
E-Mail
klondike@jewelry.ak
Total Amount Due
$2,716.00
Terms
3/10, N/30
beadydeeds@jewelry.ak
Invoice Date: June 15, 2023
Quantity
Description
65 @ $40.00/ounce
Sterling Silver, 1 Ounce
8 @ $14.50/foot
String
Amount
$ 2,600.00
116.00
Total
Thanks for letting us serve you!
June 17, 2023
Transaction 33
$ 2,716.00
Transaction 34
Furocious Outfitters
35 S. 57th Avenue
Anchorage, AK 99504
(907) 777-2222
9793
June 17, 2023
Date: June 15, 2023
Pay To The Order Of: ___Klondike Jewelry
________
_ __ _
$1,666.00
One thousand six hundred sixty-six and 00/100……………………………..…………………. DOLLARS
MEMO: Payment for Invoice #324____
Grizzly Adams
Transaction 34
Transaction 35
INVOICE
Date:
Invoice #:
To:
June 18, 2023
326
Loosey Moosey
5987 Alfred Circle
Anchorage, AK 99501
(907) 994-5678
Klondike Jewelry
Salesperson
Job
Payment Terms
Due Date
Klondike, Joe
CSN579
2/10, n/30
July 18, 2023
Qty.
Description
3
Jeweled Ring
1
1
Unit Price
Line Total
$400.00
$1,200.00
Specialty Necklace, Custom
310.00
310.00
10k Gold Chain, 16” Long
200.00
200.00
Subtotal
1,710.00
Shipping

Total
$1,710.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $ 1,026
Transaction 35
Transaction 36
INVOICE
Date:
Invoice #:
To:
June 18, 2023
327
The Gift Horse
786 Rascal Ct.
Anchorage, AK 99501
(907) 987-9900
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 18, 2023
Description
Unit Price
Line Total
2
18k Gold Chain, 18” Long
$400.00
$800.00
2
Small Charm, Jade
275.00
550.00
3
Specialty Necklace
150.00
450.00
2
Benson Bracelet, Jade
700.00
1,400.00
2
Benson Bracelet, Ivory
650.00
1,300.00
Subtotal
4,500.00
Shipping

Total
$4,500.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $ 2,700
Transaction 36
Transaction 37
Alaskan Knife Co.
923 Elephant Way
Willow, AK 99688
(907) 859-3672
13992
June 20, 2023 Date: 06/17/2023
Pay To The Order Of: __Klondike Jewelry_________________
$2,671.00
Two thousand six hundred seventy-one and 00/100………..………………………………………………. DOLLARS
MEMO: Payment for Invoice #325_________
Transaction 37
`tÜç _Éâ|áx hÄâ
Transaction 38
INVOICE
Date:
Invoice #:
To:
June 20, 2023
328
The Gathering Place
1234 Wishing Circle
Anchorage, AK 99501
(907) 987-6543
Klondike Jewelry
Salesperson
Job
Payment Terms
Due Date
Busy, Bea
CSN580
2/10, n/30
July 20, 2023
Qty.
Description
Unit Price
Line Total
2
Jeweled Ring
$300.00
$600.00
2
Crystal Earrings
140.00
280.00
1
Specialty Necklace
150.00
150.00
1
Specialty Necklace, Custom
240.00
240.00
Subtotal
1,270.00
Shipping

Total
$1,270.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $ 762
Transaction 38
Transaction 39
Maggie Mae’s
8910 Brisk Dr.
Fairbanks, AK 99709
(907) 456-7899
MaggieMae@jewelry.ak
TO
INVOICE
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
SALESPERSON
JOB
Maggie Mae
QUANTITY
5 Pkg.
3 Pkg.
4 Ea.
7 Ea.
INVOICE NO.
DATE
CUSTOMER ID
1342
June 18, 2023
PAYMENT TERMS
DUE DATE
2/10, n/30
July 18, 2023
n/a
DESCRIPTION
Assorted Beads, Crystal
Assorted Beads, Glass
Assorted Beads, Jade
Assorted Beads, Ivory
UNIT
PRICE
40.00
20.00
100.00
20.00
Make all checks payable to Maggie Mae’s.
THANK YOU FOR YOUR BUSINESS!
June 20, 2023
Transaction 39
SUBTOTAL
SHIPPING
TOTAL
LINE
TOTAL
200.00
60.00
400.00
140.00
800.00
$800.00
Transaction 40
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 20, 2023
Issue a check to AK Marketeers for payment of invoice #625.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8110
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 40
Transaction 41
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 20, 2023
Issue a check for $1,265 to Pens R Us for office supplies.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8111
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 41
Transaction 42
The Wintergreen Shop
55667 Kobuk Way
Anchorage, AK 99501
Phone (907) 555-6666
INVOICE
Bill To:
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
June 21, 2023
DATE:
INVOICE #
Terms
June 18, 2023
2350
1/15, N/45
DESCRIPTION
50 each, snowflake necklaces
10 each, icicle earrings
10 each, frostbite bracelets
AMOUNT
5,000
1,000
2,000
TOTAL
$
Make all checks payable to Wintergreen Shop.
If you have any questions concerning this invoice, contact Tony at (907) 112-3369.
Thank you for shopping with us!
Transaction 42
8,000
Transaction 43
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 21, 2023
Issue a check for $4,400 to Mary Hill for weekly payroll.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8112
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 43
Transaction 44
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 21, 2023
Record cash sales of $18,484 and cost of goods sold of $11,090 for the week.
Transaction 44
Transaction 45
Fill out the deposit ticket for June 21 and record in the Check Register.
DEPOSIT TICKET
Klondike Jewelry
CASH 
123 Denali Park Street

Denali, AK 99755

(907) 123-4567


Date

20

BUCK BANK
3714 Money Lane
Anchorage, AK 99501
SUBTOTAL 
LESS CASH BACK
TOTAL

$
After this transaction, the balance in the check register should be $94,569.
Transaction 45
Transaction 46
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 22, 2023
Issue a check to A’Okay Jewelers for payment of invoice #1969.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8113
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 46
Transaction 47
Glass ‘n’ Twine
INVOICE
246 Carpet Rd.
Talkeetna, Alaska 99676
(907) 733-5678
June 22, 2023
SOLD TO:
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INVOICE DATE
Invoice #
TERMS
Shipping Point
SHIPPED TO:
June 17, 2023
303
2/10, n/30
Denali, AK
Same
QUANTITY
2
1
DESCRIPTION
UNIT PRICE
AMOUNT
$100
$1,000
$400
$2,000
Classic Beads
Beading Supplies Kit
DIRECT ALL INQUIRIES TO:
Cynthia Glass
(907) 733-5678
email: stayglassy@jewelry.ak
SUBTOTAL
$2,400
FREIGHT

MAKE ALL CHECKS PAYABLE TO:
Glass ‘n’ Twine
Attn: Accounts Receivable
246 Carpet Rd.
Talkeetna, Alaska 99676
THANK YOU FOR YOUR BUSINESS!
Transaction 47
$2,400
Transaction 48
INVOICE
Date:
Invoice #:
To:
June 22, 2023
329
Furocious Outfitters
105 W 4th Avenue
Anchorage, AK 99501
(907) 277-8414
Klondike Jewelry
Salesperson
Job
Payment Terms
Due Date
Busy, Bea
CSN581
2/10, n/30
July 14, 2023
Qty.
Description
1
Jeweled Ring
4
Unit Price
Line Total
$300.00
$300.00
Specialty Necklace
150.00
600.00
4
Specialty Necklace, Custom
220.00
880.00
3
Crystal Earrings
140.00
420.00
2
Small Charm, Jade
275.00
550.00
Subtotal
2,750.00
Shipping

Total
$2,750.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $1,650
Transaction 48
Transaction 49
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 22, 2023
Issue a check for $975 to Division of Fire Safety for annual fire inspection.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8114
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 49
Transaction 50
Loosey Moosey
5987 Alfred Circle
Anchorage, AK 99501
(907) 994-5678
5748
June 23, 2023
Date:_06/21/2023_
$1,676.00
Pay To The Order Of: __Klondike Jewelry _________________
One thousand six hundred seventy-six and 00/100………………………………………………… DOLLARS
MEMO: __Payment of Invoice #326_______
Transaction 50
gtÇçt VtÄy
Transaction 51
The Gift Horse
373
786 Rascal Ct.
Anchorage, AK 99501
(907) 987-9900
June 23, 2023
Date: June 20, 2023
Pay To The Order Of: _Klondike Jewelry _
___
____
$4,410.00
Four thousand four hundred ten and 00/100……………………….…………..……………………….. Dollars
Ed D. Horse
Memo: Payment for Invoice #327____
Transaction 51
Transaction 52
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 23, 2023
Issue a check for $560 to Julie Swanson (a new employee) for payroll.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8115
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 52
Transaction 53
INVOICE
To:
Date:
June 23, 2023
Invoice #:
330
The Princess’s Turret
13 Camelot Ct.
Anchorage, AK 99501
(907) 456-6868
Klondike Jewelry
Salesperson
Job
Payment Terms
Due Date
Klondike, Joe
CSN582
2/10, n/30
July 23, 2023
Qty.
Description
Unit Price
Line Total
8
Large Charm, Ivory
400.00
3,200.00
8
18k Gold Chain, 18” Long
400.00
3,200.00
Specialty Necklace, Custom
1,014.00
1,014.00
650.00
3,250.00
5
Benson Bracelet, Ivory
Subtotal
10,664.00
Shipping

Total
$10,664.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $ 6,400
Transaction 53
Transaction 54
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 23, 2023
Issue a check to Johnny Apple Bead for payment of invoice #1774, less discount.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8116
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 54
Transaction 55
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 24, 2023
Issue a check for $320 to Arctic Phone Company for payment of the telephone
bill.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8117
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 55
Transaction 56
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 24, 2023
Issue a check for $648 to Powerhouse Electrical Company for payment of the
electric bill.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8118
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 56
Transaction 57
5689 Shady Grove Ave. Suite A
INVOICE NO.
677
Anchorage, AK 99517
(907) 564-5555
3Marketeers@advertising.ak
TO
DATE
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
June 22, 2023
June 25, 2023
JOB
PAYMENT TERMS
NA-62600
n/15
DESCRIPTION
Quantity
Unit Price
Internet Advertising
1
1,025.00
TOTAL DUE
Transaction 57
TOTAL
1,025.00
1,025.00
Transaction 58
To: The Princess’s Turret
Date: June 25, 2023
13 Camelot Ct.
Anchorage, AK 99501
(907) 456-6868
Subject: Account Credit
Dear Ms. Windsor,
We have credited $1,000 to your account as an allowance to compensate
you for delivering 16” chains instead of 18” chains as ordered on invoice
#330. We hope this resolves any problems and look forward to doing
business with you in the future.
Sincerely,
Ben Hill
Klondike Jewelry
123 Denali Park Street, Denali, AK 99755
Phone: (907) 123-4567 Fax: (907) 765-4321
klondike@jewelry.ak
Thank you for your business!
Transaction 58
Transaction 59
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 26, 2023
Issue a check to Maggie Mae’s for payment of invoice #1342, less discount.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8119
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 59
Transaction 60
Invoice
336 Ginger Rd, Anchorage, AK 99501 (907) 658-9987
Customer:
Invoice No. 177
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
klondike@jewelry.ak
(907) 123-4567
Description
June 26, 2023
Invoice Date: June 22, 2023
Payment Terms: n/30
Qty.
Unit Price
Amount
Gold Wire, spool
2
1,000.00
2,000.00
Bead Kit, Premium
2
300.00
600.00
Gold Clasps, package
1
2,000.00
2,000.00
Balance Due
Transaction 60
4,600.00
Transaction 61
INVOICE
Date:
Invoice #:
To:
June 27, 2023
331
Alaskan Knife Co
923 Elephant Way
Anchorage, AK 99501
(907) 336-7985
Salesperson
Klondike Jewelry
Job
Busy, Bea
Qty.
Payment Terms
Due Date
2/10, n/30
July 27, 2023
Description
Unit Price
Line Total
4
Benson Bracelet, Ivory
$650.00
$2,600.00
4
Benson Bracelet, Jade
700.00
2,800.00
5
18k Gold Chain, 18” Long
400.00
2,000.00
2
Charm, Gold
200.00
400.00
4
Large Charm, Ivory
400.00
1,600.00
Subtotal
9,400.00
Shipping

Total
$9,400.00
Make all checks payable to Klondike Jewelry.
Thank you for your business!
123 Denali Park Street, Denali, AK 99755 Phone: (907) 123-4567 Fax: (907) 765-4321 klondike@jewelry.ak
COST: $ 5,560
Transaction 61
Transaction 62
The Gathering Place
1234 Wishing Way
Anchorage, AK 99501
(907) 987-6543
2740
June 27, 2023
Date: 06/23/2023
Pay To The Order Of: _Klondike Jewelry _
___
____
$1,245.00
One thousand two hundred forty-five and 00/100………………………………………………….. Dollars
Patty Planner
Memo: Payment for Invoice #328____
Transaction 62
Transaction 63
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 28, 2023
Record cash sales of $26,182 and cost of goods sold of $15,709 for the week.
Transaction 63
Transaction 64
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 28, 2023
Issue a check for $4,400 to Mary Hill for weekly payroll.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8120
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 64
Transaction 65
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 28, 2023
Please review the records to determine if June’s rent for $4,600 was paid to
Denali Rental Properties, as we have received a past due notice. Issue a check if
necessary.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8121
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 65
Transaction 66
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
INTEROFFICE MEMO
TO: Accounting Department
DATE: June 28, 2023
Issue a check for $8,500 to Ben Hill for personal use.
Klondike Jewelry
123 Denali Park Street
Denali, AK 99755
(907) 123-4567
8122
Date:
$
Pay To The Order Of:
DOLLARS
MEMO:
Transaction 66
Transaction 67
Furocious Outfitters
35 S. 57th Avenue
Anchorage, AK 99504
(907) 777-2222
9807
June 30, 2023
Date: June 27, 2023
Pay To The Order Of: ___Klondike Jewelry
________
_
_
$2,695.00
Two thousand six hundred ninety-five and 00/100………….…………………..…………………… DOLLARS
MEMO: Payment for Invoice #329____
Grizzly Adams
Transaction 67
Transaction 68
Fill out the deposit ticket for June 30 and record in the Check Register.
DEPOSIT TICKET
Klondike Jewelry
CASH 
123 Denali Park Street

Denali, AK 99755

(907) 123-4567


Date

20

BUCK BANK
3714 Money Lane
Anchorage, AK 99501
SUBTOTAL 
LESS CASH BACK
TOTAL

$
After this transaction, the balance in the check register should be $105,455.
After you record this final transaction, continue with the steps on page 4 of your practice
set (End-of-Month Instructions).
Transaction 68

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