Solution-Preparenbspgeneral journal entry general ledger

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Prepare General Journal entry General Ledger entry, Unadjusted Trial Balance, Adjusted Trial Balance, Post-Closing Trial Balance and Balance Sheet.

I-Teck Company Chart of Accounts
100	Petty Cash
110	Cash
120	Accounts Receivable
121	Allowance for Doubtful Accounts
130	Merchandise Inventory
140	Office Supplies
145	Prepaid Advertising
150	Prepaid Insurance
155	Prepaid Rent
160	Computer Equipment
161	Accumulated Depreciation, Computer Equipment
165	Office Furniture
166	Accumulated Depreciation, Office Furniture
170	Service Vehicle
171	Accumulated Depreciation, Service Vehicle
190	Patent
220	Accounts Payable
225	Interest Payable
230	Salaries Payable
240	Unearned Revenue
250	Notes Payable
300	Steven Jobbs, Capital
301	Steven Jobbs, Withdrawals
400	Sales Revenue
401	Sales Returns and Allowances
402	Sales Discounts
500	Cost of Goods Sold
520	Advertising Expense
560	Depreciation Expense, Computer Equipment
565	Depreciation Expense, Office Furniture
570	Depreciation Expense, Delivery Van
575	Bad Debt Expense
576	Bank Charges Expense
578	Credit Card Expense
580	Delivery Expense
582	Insurance Expense
584	Interest Expense
586	Miscellaneous Selling Expense
587	Office Supplies Expense
588	Over Short Expense
589	Postage Expense
590	Rent Expense
592	Salaries Expense
595	Telephone Expense
598	Utilities Expense
900	Income Summary

I-Teck Company Trial Balance October 31, 2011
Account No.	Account Title	Debit	Credit
110	Cash	$ 63,511.35
120	Accounts Receivable	60,917.50
121	Allowance for Doubtful Accounts		1,750.00
130	Merchandise Inventory	92,225.00
140	Office Supplies	1,190.00
150	Prepaid Insurance	13,420.00
160	Computer Equipment	23,800.00
161	Accumulated Depreciation, Computer Equipment		2,975.00
165	Office Furniture	22,190.00
166	Accumulated Depreciation, Office Furniture		1,925.00
190	Patent	8,239.00
220	Accounts Payable		30,348.64
250	Notes Payable		56,000.00
300	Steven Jobbs, Capital		50,210.64
301	Steven Jobbs, Withdrawals	16,800.00
400	Sales Revenue		661,283.00
401	Sales Returns and Allowances	8,944.60
402	Sales Discounts	2,152.50
500	Cost of Goods Sold	325,830.40
520	Advertising Expense	1,452.37
576	Bank Charges Expense	486.15
578	Credit Card Expense	104.00
580	Delivery Expense	2,503.48
586	Miscellaneous Selling Expense	887.29
589	Postage Expense	2,370.59
590	Rent Expense	28,000.00
592	Salaries Expense	124,214.91
595	Telephone Expense	1,898.22
598	Utilities Expense	3,354.92
	Total	$804,492.28	$804,492.28

I-Teck Company Schedule of Accounts Receivable October 31, 2011
Dixon Company	$ 1,803.20
Minitron Inc.	5,425.00
Office Depot	1,260.00
Staples	23,224.60
Toys"R"Us	4,559.80
Visions	24,644.90
Total	$ 60,917.50

I-Teck Company Schedule of Accounts Payable October 31, 2011
Apple Company	$ 2,444.68
Gates Suppliers	11,530.40
Mason Products	5,363.82
Sony Company	11,009.74
Total	$ 30,348.64

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