1. Prepare manual entries and complete the general and subsidiary ledgers.

2. Prepare an account receivable and account payable reconciliation of the subsidiary ledger accounts to the control account.

3. Compare it to the Trial Balance provided

4. Make all required adjusting entries for the December 31, 20XX Year-End

5. Prepare financial statements on December 31.

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EAST WEST COLLEGE INC. ADJ TRIAL DEC DR-S TRIAL DECEMBER NOVEMBER DR-$ ACCOUNT NAME CR-S DR-S CR-S CR-S 238,052.00 Cash Term Deposit 248.552.00 200,000.00 1,000,000.00 1,000,000.00 0.00 Accrued Interest Receivable Accounts Receivable Control 2,500.00 0.00 0.00 111.300.00 111,300.00 14,700.00 Allowance for Doubtful Accounts 9,300.00 0.00 0.00 Inventory Deposit Prepaid 6,255.00 58,000.00 20,000.00 10,000.00 0.00 75,000.00 0.00 28,000.00 0.00 Land 0.00 100,000.00 300,000.00 100,000.00 300,000.00 Building A/D - Building Furniture & Equipment A/D- Fumiture & Equipment Computer Equipment A/D - Computer Equipment Leaschold Improvements A/D- Leaschold Improvements 0.00 0.00 22.125.00 22.125.00 25,800.00 28,800.00 10,000.00 5,520.00 2,800.00 2,800.00 7,000.00 4,000.00 0.00 3,500.00 0.00 0.00 90,000.00 90,000.00 0.00 1,500.00 0.00 0.00 Investments 80.000.00 80,000.00 Accounts Payable Control Accrued Accounts Payable GST Payable Income Taxes Payable CPP Payable El Payable Holiday Pay Payable Согрorate Taxes Раyable Deferred Revenue Mortgage Payable Shareholder Loan - LASKER Shareholder Loan- ARIF 73.752.00 73,752.00 12,920.00 2,000.00 0.00 0.00 980.00 1,280.00 12,050.00 0.00 0.00 4,505.00 0.00 0.00 420.00 0.00 0.00 288.00 2,484.00 2,484.00 2,200.00 55,300.00 50,000.00 24,200.00 22,200.00 0.00 0.00 0.00 100,000.00 100,000.00 103,320.00 122,165.00 103,320.00 122,165.00 105.000.00 125,000.00 Common Shares 100.00 100.00 100.00 Preferred Share Retained Earnings 100.00 240,732.00 100.00 100.00 240,732.00 240,732.00 Dividends 10,000.00 10,000.00 10,000.00 Customized Training General Training 120,000.00 1,402,000.00 120,000.00 1,452,000.00 120,000.00 1,200,000.00 Course Materials 526,745.00 475,000.00 25,000.00 480,400.00 1,962.00 475,000.00 Internal Materials- Printing Costs Subcontract Travel Costs Advertising & Promotion Amortization Bad Debts Bank Charges & Interest 25,000.00 25,000.00 440,000.00 480,400.00 1,962.00 0.00 15.900.00 20,456.00 15,900.00 0.00 14000.00 0.00 9.300.00 2,125.00 5,000.00 8,000.00 0.00 1,925.00 5,000.00 000 1800.00 Donations 00 Insurance 24,000.00 24,000.00 Interest on LT Debt 34,200.00 8,555.00 2,700.00 33,000.00 8,555.00 2,700.00 33,000.00 2,250.00 2,460.00 Meals S Entertainment- 0% Meals S Entertainment- 50% Meals S Entertainment- 100% 10,260.00 6,000.00 10,260.00 6,000.00 Memberships Miscellancous Occupancy Costs 18,000.00 0000 0.00 11,600.00 19.600.00 10,500.00 11,600.00 11.600.00 10,500.00 000 Professional Fees 9.500.00 Repairs and Maintenance Wages& Benefits- Salary Wages& Benefits- CPP Wages& Benefits-EI Wages& Benefits- Holiday 500.00 84,100.00 2,525.00 500.00 0.00 84,100.00 2,525.00 77,000.00 1,495.00 2,484.00 2,310.00 1,320.00 2,200.00 1,495.00 2,484.00 0.00 Interest Income 2,500.00 0.00 Gain/Loss on Disposal Income Taxes Expense 712,361.00 1,050,000.00 0.00 79,300.00 2,887,614.00 2,887,614.00 3,290,858.00 3,290,858.00 1,948,240.00 1,948,240.00 NAME: 44 EAST WEST COLLEGE INC. ADJ TRIAL DEC DR-S TRIAL DECEMBER NOVEMBER DR-$ ACCOUNT NAME CR-S DR-S CR-S CR-S 238,052.00 Cash Term Deposit 248.552.00 200,000.00 1,000,000.00 1,000,000.00 0.00 Accrued Interest Receivable Accounts Receivable Control 2,500.00 0.00 0.00 111.300.00 111,300.00 14,700.00 Allowance for Doubtful Accounts 9,300.00 0.00 0.00 Inventory Deposit Prepaid 6,255.00 58,000.00 20,000.00 10,000.00 0.00 75,000.00 0.00 28,000.00 0.00 Land 0.00 100,000.00 300,000.00 100,000.00 300,000.00 Building A/D - Building Furniture & Equipment A/D- Fumiture & Equipment Computer Equipment A/D - Computer Equipment Leaschold Improvements A/D- Leaschold Improvements 0.00 0.00 22.125.00 22.125.00 25,800.00 28,800.00 10,000.00 5,520.00 2,800.00 2,800.00 7,000.00 4,000.00 0.00 3,500.00 0.00 0.00 90,000.00 90,000.00 0.00 1,500.00 0.00 0.00 Investments 80.000.00 80,000.00 Accounts Payable Control Accrued Accounts Payable GST Payable Income Taxes Payable CPP Payable El Payable Holiday Pay Payable Согрorate Taxes Раyable Deferred Revenue Mortgage Payable Shareholder Loan - LASKER Shareholder Loan- ARIF 73.752.00 73,752.00 12,920.00 2,000.00 0.00 0.00 980.00 1,280.00 12,050.00 0.00 0.00 4,505.00 0.00 0.00 420.00 0.00 0.00 288.00 2,484.00 2,484.00 2,200.00 55,300.00 50,000.00 24,200.00 22,200.00 0.00 0.00 0.00 100,000.00 100,000.00 103,320.00 122,165.00 103,320.00 122,165.00 105.000.00 125,000.00 Common Shares 100.00 100.00 100.00 Preferred Share Retained Earnings 100.00 240,732.00 100.00 100.00 240,732.00 240,732.00 Dividends 10,000.00 10,000.00 10,000.00 Customized Training General Training 120,000.00 1,402,000.00 120,000.00 1,452,000.00 120,000.00 1,200,000.00 Course Materials 526,745.00 475,000.00 25,000.00 480,400.00 1,962.00 475,000.00 Internal Materials- Printing Costs Subcontract Travel Costs Advertising & Promotion Amortization Bad Debts Bank Charges & Interest 25,000.00 25,000.00 440,000.00 480,400.00 1,962.00 0.00 15.900.00 20,456.00 15,900.00 0.00 14000.00 0.00 9.300.00 2,125.00 5,000.00 8,000.00 0.00 1,925.00 5,000.00 000 1800.00 Donations 00 Insurance 24,000.00 24,000.00 Interest on LT Debt 34,200.00 8,555.00 2,700.00 33,000.00 8,555.00 2,700.00 33,000.00 2,250.00 2,460.00 Meals S Entertainment- 0% Meals S Entertainment- 50% Meals S Entertainment- 100% 10,260.00 6,000.00 10,260.00 6,000.00 Memberships Miscellancous Occupancy Costs 18,000.00 0000 0.00 11,600.00 19.600.00 10,500.00 11,600.00 11.600.00 10,500.00 000 Professional Fees 9.500.00 Repairs and Maintenance Wages& Benefits- Salary Wages& Benefits- CPP Wages& Benefits-EI Wages& Benefits- Holiday 500.00 84,100.00 2,525.00 500.00 0.00 84,100.00 2,525.00 77,000.00 1,495.00 2,484.00 2,310.00 1,320.00 2,200.00 1,495.00 2,484.00 0.00 Interest Income 2,500.00 0.00 Gain/Loss on Disposal Income Taxes Expense 712,361.00 1,050,000.00 0.00 79,300.00 2,887,614.00 2,887,614.00 3,290,858.00 3,290,858.00 1,948,240.00 1,948,240.00 NAME: 44

Answer rating: 100% (QA)

JOURNAL ENTRY DATE PARTICULAR DEBIT CREDIT DEC BANK 1000000 CASH 1000000 CASH 2500 ACCRUED INTEREST 2500 CASH 111300 ACCOUNT RECEIVABLE CONTROL 111300 ... View the full answer