Question

Lucky 7 Cycle Shop

S.No.	Account	Debit $	Credit $
1	Inventory	$11,550.00
	Trek Corporation		$11,550.00
2	Stranger thanDirt Offered	$5,900.00
	Sales Revenue		$5,900.00
	Cost of goods sold	$3,900.00
	Inventory		$3,900.00
3	Camp. Italia	$5,500.00
	Cash		$5,390.00
	Discount Received		$110.00
4	Cash	$7,840.00
	Discount Allowed	$160.00
	Arnasilla Sports		$8,000.00
5	Prepaid Insurance	$16,000.00
	Cash		$16,000.00
6	Specialized Bicycle Supply	$13,200.00
	Cash		$13,200.00
7	Coastal Bike Tours	$13,000.00
	Sales Revenue		$13,000.00
	Cost of goods sold	$7,800.00
	Inventory		$7,800.00
8	Cash	$6,860.00
	Discount Allowed	$140.00
	Alma Sports		$7,000.00
9	Shimana Japan	$4,800.00
	Cash		$4,800.00
10	Cash	$2,450.00
	Discount Allowed	$50.00
	Dimebox Wheelsports		$2,500.00
11	Eura Pedalpushers	$22,600.00
	Sales Revenue		$22,600.00
	Cost of goods sold	$13,560.00
	Inventory		$13,560.00
12	Inventory	$22,150.00
	Klein		$22,150.00
13	Cash	$18,200.00
	Sales Revenue		$18,200.00
	Cost of goods sold	$10,900.00
	Inventory		$10,900.00
14	Cash	$3,920.00
	Discount Allowed	$80.00
	Eura Pedalpushers		$4,000.00
15	Inventory	$9,000.00
	Pearl Izumi		$9,000.00
16	Dimebox Wheelsports	$13,325.00
	Sales Revenue		$13,325.00
	Cost of goods sold	$8,115.00
	Inventory		$8,115.00
17	Cash	$5,880.00
	Discount Allowed	$120.00
	Panhandle Spinshop		$6,000.00
18	Inventory	$2,100.00
	Descente Bike Supply		$2,100.00
19	Inventory	$9,600.00
	Descente Bike Supply		$9,600.00
20	Sales Revenue	$500.00
	Dimebox Wheelsports		$500.00
	Inventory	$300.00
	Cost of goods sold		$300.00
21	Misc Selling Expenses	$230.00
	Cash		$230.00
22	Fastspeed Fitness	$8,760.00
	Sales Revenue		$8,760.00
	Cost of goods sold	$5,356.00
	Inventory		$5,356.00
23	Pearl Izumi	$360.00
	Inventory		$360.00
24	Cash	$300.00
	Mellow Johny Speedwear		$300.00
25	Bad Debt Expenses	$1,650.00
	Doug's Cruisers		$1,650.00
26	Cash	$6,272.00
	Discount Allowed	$128.00
	Stranger thanDirt Offered		$6,400.00
27	Cash	$12,740.00
	Discount Allowed	$260.00
	Coastal Bike Tours		$13,000.00

Journal General
Trans #	Date	Account Head	Debit	Credi
28		Sales salaries	15000
		Cash		15000
29		Office Salaries	9000
		Cash		9000
30		Cash	23300
		Sales		23300
		Cost of sales	14800
		Inventory		14800
31		Cash	22148
		Discount	452
		Euro Pedalpushers		22600
32		Inventory	4590
		Trek Corporation		4590
33		Misc Selling exp	825
		Trek Corporation		825
34		Store Supplies	325
		Trek Corporation		325
35		P Spinshop	3885
		Sales		3885
		Cost of Sales	2331
		Inventory		2331
36		dividends	26500
		cash		26500
37		advertising	530
		Cash		530
38		Inventory	5710
		MJ speedwear		5710
39		pearl Izumi	8467.2
		cash		8467.2
40		S.C. flames	19000
		Cash		19000
41		advertising	360
		Cash		360
42		cash	13058.5
		Discount	266.5
		D wheelparts		13325
43		Return intwards	150
		P. Spinshop		150
44		cash	8584.8
		Discount	175.2
		F Fitness		8760
45		Misc Selling exp	530
		Cash		530
46		Inventory	5280
		DB Supply		5280
47		Store Supplies	260
		DB Supply		260
48		Cash	18500
		Sales		18500
		Cost of sales	13280
		Inventory		13280
49		Inventory	5400
		DB Supply		5400
50		CB Tours	22500
		Sales		22500
		Cost of sales	13490
		Inventory		13490
52		Inventory	5050
		klein		5050
53		Misc. Admin exp	245
		Cash		245
54		S Japan	135
		Return Outwards		135
55		A Sports	2075
		Sales		2075
		Cost of sales	2075
		Inventory		2075
56		Sales salaries	15000
		Cash		15000
57		Office Salaries	9000
		Cash		9000
58		A Sports	18950
		Sales		18950
		Cost of sales	12527
		Inventory		12527
59		Misc. Admin exp	340
		Cash		340
60		DB Supply	5530
		Cash		5419.4
		Discount		110.6
61		dividends	25250
		Cash		25250
62		Misc. Admin exp	612
		Cash		612
63		Misc. Admin exp	618
		Cash		618
64		Interest payable	680
		Cash		680
65		Cash	4060
		Note receivable		4000
		Interest receivable		60
66		Cash	24400
		Sales		24400
		Cost of sales	14430
		Inventory		14430
Adjusting entries
J1		Inventory shrinkage	335
		Inventory		335
J2		Office supplies	410
		income statement		410
J3		Store Supplies	850
		income statement		850
J4		expense account	1333.33
		prepaid expense		1333.33
J5		Depreciation exp	602.78
		Accumulated dep		602.78
J6		Depreciation exp	800
		Accumulated dep		800
J7		Unearned rental revenue	485
		Accounts receivable		485
J9		Interest receivable	32
		Interest income		32
J10		Sales salaries	2800
		Sales salaries payable		2800
J11		Office Salaries	2100
		Office Salaries Payable		2100

Create a trial balance, with the adjustments & adjusted trial balance.

Answer 1