Chart of Accounts

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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 30 2015 :

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 30 2015 . In 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.