Assignment #2 Adjusting Entries, Adjusted Trial Balance and Closing the Books Prepared by: David Cleary Prepared for: George Brown College Course: HOSF 1277 Lour Harbours Continued After having...

Grade Evaluation
        General Journal:
        An entry is required for each cash transaction. Six in total.
        The entries should be numbered
        Explanations should be provided for each entry
        Comments about General Journal:
        General Ledger:
        All journal entries must be posted appropriately
        Beginning balances must be correct
        Comments about General Ledger:
        Worksheet:
        All balances must be correct and in accordance with the general ledger
        Comments about Worksheet:
        Overall Assessment:
        Mark out of 8
         Perfect - 8; Pretty close - 6;Good effort - 4
         Poor effort - 1 or 2; Late or not submitted - 0
        Corrections, if needed, must be made before proceeding to Part II.
        Overall Comments:
List of Accounts
    List of Accounts for Loud Harbors Restaurant
    Cash
    Food Inventory
    Liquor Inventory
    Fixtures
    Accumulated depreciation, Fixtures
    Glassware
    Accumulated depreciation, Glassware
    Accounts Receivable
    Prepaid Rent
    Accounts payable
    Unearned Revenue
    Income Tax Payable
    Common Stock
    Retained Earnings
    Rent Expense
    Wage Expense
    Salary Expense
    Depreciation expense
    Income Tax Expense
    Cost of Food Sold
    Cost of Liqour Sold
    Food Sales
    Liquor Sales
    Utilities Expense
    Utilities Payable
    Other Revenue
    Advertising Expense
    Income Summary
Part 2- Adjustment Journal
    Loud Harbours
             Adjustment Journal
    Date        Description        Reference    Debit    Credit
    31-Jan-2018        Utilities Expenses            144
            Utilities Payable                144
            (To record accrued utilities expenses for Jan)
            ($430.54* 1 month/ 3 months)
    31-Jan-2018        Depreciation expense            700
            Accumulated depreciation, Fixtures                700
            (To record depreciation on fixtures for Jan'18)
    31-Jan-2018        Unearned revenue            150
            Other revenue                150
            (To record unearned revenue for services provided)
    31-Jan-2018        Cost of Food Sold            2,773
            Food Inventory                2,773
            (To record cost of foods sold)
    31-Jan-2018        Cost of Liqour Sold            2,880
            Liquor Inventory                2,880
            (To record cost of liquor sold)
    31-Jan-2018        Interest Expense            125
            Interest Payable                125
            (To record interest expense)
    31-Jan-2018        Equity Withdrawls            2,000
            Cash                2,000
            (To record equity withdrawal)
             
             
                              
Part 2- Adjustment Ledger
    Account Name:    Cash                
                        Balance
    Date    Description    Reference    Debit    Credit    Debit    Credit
    1-Jan-2018    Issue of common shares    1    100,000
    2-Jan-2018    Purchase of food inventory    2        26,650
    4-Jan-2018    Purchase of Beverage inventory    2        14,400
    6-Jan-2018    Purchase of new...