IA-1 Title Page
Individual Assignment One (IA-1): Stratford House
Answer Key
MacEwan University
HSAD 315: Managing Financial Resources
&1#&"Cali
i"&11&K000000Classification: Protected A
IA1 - General Journal
General Journal: Sept. 30, XXXXXXXXXXSTRATFORD HOUSE
Entry Date Account # Account Name Debit Credit Notes
1 July 1 101 CASH 144,000
402 DONATIONS/PLEDGES INCOME 144,000
July 1 107 VEHICLE 37,000
402 DONATIONS/PLEDGES INCOME 37,000
July 1 105 EQUIP/FURN 29,000
402 DONATIONS/PLEDGES INCOME 29,000 Donation received
2 July 1 109 PRE-PAID RENT 21,000
101 CASH 21,000 Pre-paid for 3 months
3 July 2 110 PRE-PAID INSURANCE 6,000
101 CASH 6,000 Pre-paid for 3 months
4 July 4 111 SUPPLIES 3,275 Purchase on account - ESS
201 ACCOUNTS PAYABLE 3,275 (Emergency Services Supplies)
5 July 14 101 CASH 6,700
402 DONATIONS/PLEDGES INCOME 6,700 Fundraising event
6 July 16 506 VEHICLE EXPENSE 110
201 ACCOUNTS PAYABLE 110 Gas purchase on account-Exxen
7 July 27 102 ACCOUNTS RECEIVABLE-FEES 6,500
401 FEE INCOME 6,500 Invoiced BC School Board
8 July 30 201 ACCOUNTS PAYABLE 3,275
101 CASH 3,275 Paid ESS in full
9 Aug. 2 506 VEHICLE EXPENSE 1,850
201 ACCOUNTS PAYABLE 1,850 Repairs on Account-Exxen
10 Aug. 6 102 ACCOUNTS RECEIVABLE-FEES 7,150
401 FEE INCOME 7,150 BC Hydro presentation invoiced
11 Aug. 11 111 SUPPLIES 3,603
201 ACCOUNTS PAYABLE 3,603 Purchase on account - ESS
12 Aug. 14 501 WAGES EXPENSE 3,160
101 CASH 3,160 Wages paid, 2 staff for 2 weeks
13 Aug. 18 102 ACCOUNTS RECEIVABLE-FEES 19,500
401 FEE INCOME 19,500 City of Vancouver invoiced
14 Aug. 20 101 CASH 5,500
102 ACCOUNTS RECEIVABLE-FEES 5,500 BC School Board invoice payment
15 Aug. 24 510 TAX EXPENSE 5,700
203 TAXES PAYABLE 5,700 Property tax Payable
16 Aug. 27 201 ACCOUNTS PAYABLE 2,950
101 CASH 2,950 Partial payment-ESS
17 Aug. 27 201 ACCOUNTS PAYABLE 1,800
101 CASH 1,800 Partial payment-Exxen
18 Aug. 30 503 UTILITIES EXPENSE 8,500
101 CASH 8,500 June & July payment in full
19 Aug. 30 501 WAGES EXPENSE 3,476
101 CASH 3,476 Wages paid, 2 staff for 2 weeks
20 Sept. 2 101 CASH 7,150
102 ACCOUNTS RECEIVABLE-FEES 7,150 BC Hydro-fees payment
21 Sept. 8 101 CASH 8,580
402 DONATIONS/PLEDGES INCOME 8,580 Donations received
22 Sept. 11 111 SUPPLIES 2,900
201 ACCOUNTS PAYABLE 2,900 Purchase on account - ESS
23 Sept. 16 501 WAGES EXPENSE 3,165
101 CASH 3,165 Wages paid, 2 staff for 2 weeks
24 Sept. 16 101 CASH 1,000
102 ACCOUNTS RECEIVABLE-FEES 1,000 BC School board invoice payment
25 Sept. 19 102 ACCOUNTS RECEIVABLE-FEES 4,500
401 FEE INCOME 4,500 Invoiced Enacten-presentation
26 Sept. 20 101 CASH 10,500
102 ACCOUNTS RECEIVABLE-FEES 10,500 City of Vancouver part payment
27 Sept. 22 501 WAGES EXPENSE 348
202 WAGES PAYABLE 348 Terminated staff-wages owed
28 Sept. 25 104 ACCOUNTS RECEIVABLE-GRANTS 35,000
403 GOVERNMENT GRANT INCOME 35,000 Grant received
29 Sept. 26 101 CASH 7,500
204 UNEARNED INCOME 7,500 City of Su
ey-prepaid fees
30 Sept.27 501 WAGES EXPENSE 3,160
101 CASH 3,160 Wages paid, 2 staff for 2 weeks
31 Sept. 29 202 WAGES PAYABLE 348
101 CASH 348 Terminated staff wages paid
&1#&"Cali
i"&11&K000000Classification: Protected A
IA1 - General Ledge
GENERAL LEDGER: Sept. 30, XXXXXXXXXXSTRATFORD HOUSE
# 101 CASH # 102 ACCOUNTS RECEIVABLE-FEES
Date: 2015 Source Debit Credit Date: 2015 Source Debit Credit
July 1 J-1 144,000 July 27 J-7 6,500
July 1 J-2 21,000 Aug. 6 J-10 7,150
July 2 J-3 6,000 Aug. 18 J-13 19,500
July 14 J-5 6,700 Aug. 20 J-14 5,500
July 30 J-8 3,275 Sept. 2 J-20 7,150
Aug. 14 J-12 3,160 Sept. 16 J-24 1,000
Aug. 20 J-14 5,500 Sept. 19 J-25 4,500
Aug. 27 J-16 2,950 Sept. 20 J-26 10,500
Aug. 27 J-17 1,800 Total 37,650 24,150
Aug. 30 J-18 8,500
Aug. 30 J-19 3,476 Balance 13,500
Sept. 2 J-20 7,150
Sept. 8 J-21 8,580 # 104 ACCOUNTS RECEIVABLE-GRANTS
Sept. 16 J-23 3,165 Date Source Debit Credit
Sept. 16 J-24 1,000 Sept. 25 J-28 35,000
Sept. 20 J-26 10,500
Sept. 26 J-29 7,500 Balance 35,000
Sept. 27 J-30 3,160
Sept. 29 J-31 348 #105 EQUIPMENT/FURNITURE
Total 190,930 56,834 Date Source Debit Credit
July 1 J-1 29,000
Balance 134,096
Balance 29,000
# 110 PRE-PAID INSURANCE
Date Source Debit Credit # 107 VEHICLE
July 2 J-3 6,000 Date Source Debit Credit
July 1 J-1 37,000
Balance 6,000
Balance 37,000
# 111 SUPPLIES # 109 PREPAID RENT
Date Source Debit Credit Date Source Debit Credit
July 4 J-4 3,275 July 1 J-2 21,000
Aug. 11 J-11 3,603
Sept. 11 J-22 2,900 Balance 21,000
Total 9,778 0
Balance 9,778
# 201 ACCOUNTS PAYABLE # 202 WAGES PAYABLE
Date Source Debit Credit Date Source Debit Credit
July 4 J-4 3,275 Sept. 22 J-27 348
July 16 J-6 110 Sept. 29 J-31 348
July 30 J-8 3,275 Total 348 348
Aug. 2 J-9 1,850
Aug. 11 J-11 3,603 Balance 0
Aug. 27 J-16 2,950
Aug. 27 J-17 1,800 # 203 TAXES PAYABLE
Sept. 11 J-22 2,900 Date Source Debit Credit
Total 8,025 11,738 Aug. 24 J-15 5,700
Total 0 5,700
Balance 3,713
Balance 5,700
# 204 UNEARNED INCOME
Date Source Debit Credit # 401 FEE INCOME
Sept. 26 J-29 7,500 Date Source Debit Credit
July 27 J-7 6,500
Balance 7,500 Aug. 6 J-10 7,150
Aug. 18 J-13 19,500
# 402 DONATIONS/PLEDGES INCOME Sept. 19 J-25 4,500
Date Source Debit Credit Total 0 37,650
July 1 J-1 144,000
July 1 J-1 37,000 Balance 37,650
July 1 J-1 29,000
July 14 J-5 6,700 #403 GOVERNMENT GRANT INCOME
Sept. 8 J-21 8,580 Date Source Debit Credit
Total 0 225,280 Sept. 25 J-28 35,000
Balance 225,280 Balance 35,000
# 501 WAGES EXPENSE # 506 VEHICLE EXPENSE
Date Source Debit Credit Date Source Debit Credit
Aug . 14 J-12 3,160 July 16 J-6 110
Aug. 30 J-19 3,476 Aug. 2 J-9 1,850
Sept. 16 J-23 3,165 Total 1,960 0
Sept. 22 J-27 348
Sept. 27 J-30 3,160 Balance 1,960
Total 13,309 0
Balance 13,309 # 510 TAX EXPENSE
Date Source Debit Credit
# 503 UTILITIES EXPENSE Aug. 24 J-15 5,700
Date Source Debit Credit
Aug. 30 J-18 8,500 Balance 5,700
Balance 8,500
&1#&"Cali
i"&11&K000000Classification: Protected A
IA1 - Unadj Trial Bal
STRATFORD HOUSE
Unadjusted Trial Balance
As at September 30, 2015
ACCT # ACCOUNT DEBIT CREDIT
101 Cash 134,096
102 Accounts Receiveable-Fees 13,500
104 Accounts Receivable-Grants 35,000
105 Equipment/Furniture 29,000
107 Vehicle 37,000
109 Pre-paid Rent 21,000
110 Pre-paid Insurance 6,000
111 Supplies 9,778
201 Accounts Payable 3,713
203 Taxes Payable 5,700
204 Unearned Income 7,500
401 Fee Income 37,650
402 Donations/Pledges Income 225,280
403 Government Grant Income 35,000
501 Wages Expense 13,309
503 Utilities Expense 8,500
506 Vehicle Expense 1,960
510 Tax Expense 5,700
Total 314,843 314,843
&1#&"Cali
i"&11&K000000Classification: Protected A
Classification: Protected A
Assignment 2A: Stratford House
In Assignment 1, transactions for Stratford House were entered into the General Journal,
amounts were posted into the general ledger of accounts, and an unadjusted trial balance was
prepared. Assignment 2 continues the accounting work for the organization, Stratford House
A description of Stratford House , and their chart of accounts, is repeated below.
Stratford House is a non-profit organization that operates an emergency shelter for women and their children
in Vancouver. Stratford House earns fee income by providing presentations and information sessions on
domestic abuse at workplaces, in schools and for other groups. In addition, the organization also receives
government grants and generates some fundraising income each year. Stratford House was incorporated
with help from a wealthy private citizen and is governed by a volunteer board. The organization started
operations on July 1 2015 .
Stratford House: Chart of Accounts
Assets Income
101 Cash 401 Fee Income
102 Accounts Receivable - Fees 402 Donations/Pledges Income
103 Accounts Receivable - Donations 403 Government Grant Income
104 Accounts Receivable - Grants
105 Equipment/Furniture Expenses
106
Accumulated Depreciation -
Equip/Furn 501 Wages Expense
107 Vehicle 502 Rent Expense
108 Accumulated Depreciation - Vehicle 503 Utilities Expense
109 Prepaid Rent 504 Supplies Expense
110 Prepaid Insurance 505 Insurance Expense
111 Supplies 506 Vehicle Expense
507
Depreciation Expense -
Equip/Furn.
Liabilities 508 Depreciation Expense - Vehicle
201 Accounts Payable 509 Bad Debt Expense
202 Wages Payable 510 Tax Expense
203 Taxes Payable
204 Unearned Income
Equity
301 Retained Earnings
302 Withdrawals
Stratford House is required to prepare financial statements on September 30
The following information is known on September XXXXXXXXXX :
Classification: Protected A
Adjustment #1 August 31 The value of supplies on hand is $2,444
Adjustment #2 August 31 Stratford House uses the straight-line depreciation method.
The vehicle is expected to have a useful life of 8 years,
with a residual value of $1,850 .
Adjustment #3 August 31 The furniture and equipment is expected to have a useful life
of 15 years with no residual value.
Adjustment #4 August 31 The three months of prepaid rent expired on August 31
Adjustment #5 August 31 The three months of prepaid insurance expired on August 31
Instructions:
Prepare adjusting entries to reflect the above information. Post the adjusting entries to the general ledger.
Prepare an adjusted trial balance as at September XXXXXXXXXXIn addition, please prepare the
following statements for Stratford House :
Statement of Comprehensive Income
Statement of Changes in Equity
Statement of Financial Position
Please use excel for all of this work, to assist with accuracy. Prepare these reports and financial
statements to an appropriate business standard.