CHAPTER 6 ACCOUNTING TO TRIAL BALANCE – CASH … · CHAPTER 6 ACCOUNTING TO TRIAL ... (473) (430) (43) 18 203 1 650 ... Accounting to Trial Balance – Cash and Credit Journals

86

CHAPTER 6 ACCOUNTING TO TRIAL BALANCE – CASH AND CREDIT JOURNALS USING PERPETUAL INVENTORY Solution 6.1 (a) General Journal of A Webb Folio no: GJ1

Date Particulars Folio Debit Credit 20X6 $ $ July 1 Inventory 110 25 000

Capital 455 25 000 Asset introduced at commencement

(b) Sales Journal of A Webb Folio no: SJ1

Date

Invoice/ Credit Note

Cost of Goods Sold

Accounts Receivable/ Particulars

Folio

Accounts Receivable

Sales

GST collected

20X6 July 7

201

4 200

R Edwards – Sales

115.1

9 240

8 400

840

8 202 3 750 E Martin – Sales 115.2 8 250 7 500 750 12 151 (215) R Edwards – Sales Returns 115.1 (473) (430) (43) 18 203 1 650 H Barlow – Sales 115.3 4 400 4 000 400 19 204 800 E Martin – Sales 115.2 1 760 1 600 160 21 205 1 900 H Barlow – Sales 115.3 4 180 3 800 380 25 152 H Barlow – Overcharge 115.3 (1 210) (1 100) (110)

12 085 26 147 23 770 2 377 (110) (505) (315) (600)

(c)

General Ledger of A Webb Inventory Folio no: 110 20X6 20X6

July 1 Capital GJ1 25 000 July 31 Cost of goods sold SJ1 12 085 Balance c/d 12 915 25 000 25 000 Aug 1 Balance b/d 12 915

Accounts Receivable – R Edwards Folio no: 115.1 20X6 20X6

July 7 Sales SJ1 9 240 July 12 Sales (returns) SJ1 473 31 Balance c/d 8 767 9 240 9 240 Aug 1 Balance b/d 8 767

Accounts Receivable – E Martin Folio no: 115.2 20X6

July 8 Sales SJ1 8 250 19 Sales SJ1 1 760 10 010

Chapter 6: Accounting to Trial Balance – Cash and Credit Journals using Perpetual Inventory

87

Accounts Receivable – H Barlow Folio no: 115.3 20X6 20X6 July 18 Sales SJ1 4 400 July 25 Sales (returns) SJ1 1 210 21 Sales SJ1 4 180 31 Balance c/d 7 370 8 580 8 580 Aug 1 Balance b/d 7 370

GST Collected Folio no: 315 20X6 July 31 Accounts receivable SJ1 2 377

Capital Folio no: 455

20X6 July 1 Inventory GJ1 25 000

Sales Folio no: 505 20X6 July 31 Accounts receivable SJ1 23 770

Cost of Goods Sold Folio no: 600

20X6 July 31 Inventory SJ1 12 085

(d) A Webb

Trial balance as at 31 July 20X6 $ $ Inventory 12 915 Accounts receivable – R Edwards 8 767 Accounts receivable – E Martin 10 010 Accounts receivable – H Barlow 7 370 GST collected 2 377 Capital 25 000 Sales 23 770 Cost of goods sold 12 085 51 147 51 147

Solution 6.2 (a) Purchases Journal of V Tatjana Folio no: PJ1

Date


Accounts Payable/ Particulars

Folio

Accounts Payable

Inventory GST Paid

Motor Vehicle

Expenses

Stationery 20X7 Dec 2

401

A Zakarov – Purchases

305.1

121

110

11

7 874 R Rhodes – Purchases 305.2 253 230 23 11 107 A Zakarov – Purchase returns 305.1 (55) (50) (5) 14 8701 F Holden – Motor vehicle

expenses 305.3 297 27 270

529 A Zakarov – Purchases 305.1 99 90 9 16 281 S Weller – Stationery 305.4 198 18 180

1096 F Holden – Motor vehicle expense overcharge 305.3 (44) (4) (40)

23 48 S Weller – Stationery returns 305.4 (33) (3) (30) 31 111 A Zakarov – Purchase returns 305.1 (11) (10) (1)

825 370 75 230 150 (110) (135) (775) (762)

(b) General Ledger of V Tatjana

Inventory Folio no: 110 20X7

Dec 31 Accounts payable PJ1 370

Solutions to Accounting – A Practical Approach

88

GST Paid Folio no: 135

20X7 Dec 31 Accounts payable PJ1 75

Accounts Payable – A Zakarov Folio no: 305.1

20X7 20X7 Dec 11 Inventory – returns PJ1 55 Dec 2 Inventory PJ1 121 31 Inventory – returns PJ1 11 14 Inventory PJ1 99 Balance c/d 154 220 220 Jan 1 Balance b/d 154

Accounts Payable – R Rhodes Folio no: 305.2 20X7 Dec 7 Inventory PJ1 253

Accounts Payable – F Holden Folio no: 305.3

20X7 20X7 Dec 16 Motor vehicle expenses –

overcharge PJ1 44 Dec 1 Motor vehicle expenses PJ1 297

31 Balance c/d 253 297 297 Jan 1 Balance b/d 253

Accounts Payable – S Weller Folio no: 305.4

20X7 20X7 Dec 23 Stationery – returns PJ1 33 Dec 16 Stationery PJ1 198 31 Balance c/d 165 198 198 Jan 1 Balance b/d 165

Stationery Folio no: 762


Motor Vehicle Expenses Folio no: 775


(c)

V Tatjana Trial Balance as at 31 December 20X7

Dr Cr Inventory 370 GST paid 75 Accounts payable – A Zakarov 154 Accounts payable – R Rhodes 253 Accounts payable – F Holden 253 Accounts payable – S Weller 165 Stationery 150 Motor vehicle expenses 230 825 825


89

Solution 6.3 (a) General Journal of H Ma Folio no: GJ1

Date Particulars Folio Debit Credit 20X4 $ $ April 1 Inventory 110 15 000

Capital 455 15 000 Inventory introduced at commencement

(b) Purchases Journal of H Ma Folio no: PJ1

Date



Folio

Accounts Payable

Inventory GST paid

Advert-ising Electricity

20X4 April 4

889

D Brooks – purchases

305.1

264

240

24

15 34 D Brook – purchase adjustment 305.1 (66) (60) (6) 17 6819 Daily Planet – advertising 305.2 429 39 390 20 1318 Daily Planet – advertising adjustment 305.2 (77) (7) (70) 27 13174 Freetown Power Supply – electricity 305.3 363 33 330

913 180 83 320 330 (110) (135) (710) (750)

Sales Journal of H Ma Folio no: SJ1

Date


Cost of Goods Sold


Folio

Accounts Receivable

Sales

GST collected

20X4 April 3

421

270

T Poulos – Sales

115.1

616

560

56

11 188 T Poulos – Sales overcharge 115.1 (220) (200) (20) 17 422 690 P Allan – Sales 115.2 1 540 1 400 140 23 423 1 830 P Allan – Sales 115.2 3 960 3 600 360

2 790 5 896 5 360 536 (110)

(600) (505) (315)

(c)

General Ledger of H Ma Inventory Folio no: 110 20X4 20X4 April 1 Capital GJ1 15 000 April 30 Cost of goods sold SJ1 2 790

30 Accounts payable PJ1 180 Balance c/d 12 390 15 180 15 180

May 1 Balance b/d 12 390

Accounts Receivable – T Poulos Folio no: 115.1 20X4 20X4 April 3 Sales SJ1 616 April 11 Sales – overcharge SJ1 220

30 Balance c/d 396 616 616

May 1 Balance b/d 396

Accounts Receivable – P Allan Folio no: 115.2 20X4

April 17 Sales SJ1 1 540 23 Sales SJ1 3 960

5 500

GST Paid Folio no: 135 20X4

April 30 Accounts payable PJ1 83


90

Accounts Payable – D Brooks Folio no: 305.1 20X4 20X4 April 4 Purchases – adjustments PJ1 66 April 4 Purchases SJ1 264

30 Balance c/d 198 264 264

May 1 Balance b/d 198

Accounts Payable – Daily Planet Folio no: 305.2 20X4 20X4

April 20 Advertising – adjustment PJ1 77 April 17 Advertising SJ1 429 30 Balance c/d 352 429 429 May 1 Balance b/d 352

Accounts Payable – Freetown Power Supply Folio no: 305.3 20X4 April 27 Electricity SJ1 363

GST Collected Folio no: 315

20X4 April 30 Accounts receivable SJ1 536

Capital Folio no: 455 20X4 April 1 Inventory GJ1 15 000

Sales Folio no: 505 20X4 April 30 Accounts receivable SJ1 5 360

Cost of Goods Sold Folio no: 600 20X4

April 30 Inventory GJ1 2 790

Advertising Folio no: 710 20X4

April 30 Accounts Payable PJ1 320

Electricity Folio no: 750 20X4

April 30 Accounts Payable PJ1 330 (d)

H Ma Trial Balance as at 30 April 20X4

Dr Cr Inventory 12 390 Accounts receivable – T Poulos 396 Accounts receivable – P Allan 5 500 GST paid 83 Accounts payable – D Brooks 198 Accounts payable – Daily Planet 352 Accounts payable – Freetown Power Supply 363 GST collected 536 Capital 15 000 Sales 5 360 Cost of goods sold 2 790 Advertising 320 Electricity 330 21 809 21 809


91

Solution 6.4 (b) Cash Receipts Journal of J Jelke Folio no: CR1

Date

Rec

No

Cost of

Goods

Sold Drawer and/or

Particulars

Folio

Bank

Accounts Receivabl

e

Discount

Allowed

Sales

GST collecte

d Interest Income

Fees Rec’d

Rent Incom

e 20X1

Feb 2

521

K Cole – accounts receivable

115.1

4 312

4 400

(80)

(8)

4 522 1 300 Sales 2 800 280 523 Interest income 3 480 400

6 523 R Fay – accounts receivable

115.2 3 201 3 300 (90) (9)

7 524 J King – accounts receivable

115.3 2 299 2 420 (110) (11)

10 525 2 100 Sales 4 730 4 300 430 16 526 Technical advice 1 540 140 1 400 21 527 Rent income 800 800 27 528 Technical advice 836 76 760

3 400 21 198 10 120 (280) 7 100 898 400 2 160 800 (110) (125) (610) (505) (315) (515) (520) (510) (600)

(a) & (c) General Ledger of J Jelke

Inventory Folio no: 110 20X1 20X1 Feb 1 Balance b/d 5 000 Feb 28 Cost of goods sold CR1 3 400 Balance c/d 1 600 5 000 5 000 Mar 1 Balance b/d 1 600

Accounts Receivable – K Cole Folio no: 115.1 20X1 20X1 Feb 1 Balance b/d 4 400 Feb 2 Bank CR1 4 400

Accounts Receivable – R Fay Folio no: 115.2 20X1 20X1 Feb 1 Balance b/d 3 300 Feb 6 Bank CR1 3 300

Accounts Receivable – J King Folio no: 115.3 20X1 20X1 Feb 1 Balance b/d 2 420 Feb 6 Bank CR1 2 420

Bank Folio no: 125 20X1 Feb 1 Balance b/d 3 000

28 Cash Receipts CR1 21 198 24 198

Investment – Fixed Deposit Folio no: 260 20X1 Feb 1 Balance b/d 10 000


20X1 Feb 1 Balance b/d 920 28 Bank CR1 898 1 818


20X1 Feb 1 Balance b/d 27 200


92

Sales Folio no: 505

20X1 Feb 28 Bank CR1 7 100

Rent Income Folio no: 510

20X1 Feb 28 Bank CR1 800

Interest Income Folio no: 515


Fees Received Folio no: 520

20X1 Feb 28 Bank CR1 2 160


20X1 Feb 28 Inventory CR1 3 400

Discount Allowed Folio no: 610


(d)

J Jelke Trial Balance as at 28 February 20X1

Dr Cr Inventory 1 600 Bank 24 198 Investment – fixed deposit 10 000 GST collected 1 818 Capital 27 200 Sales 7 100 Rent income 800 Interest income 400 Fees received 2 160 Cost of goods sold 3 400 Discount allowed 280 39 478 39 478

Solution 6.5 (a) Cash Payments Journal of V Wilson Folio no: CP1

Date

Chq No

Payee and/or Particulars

Folio

Bank

Accounts

Payable

Discount

Received

Inventory

GST Paid

Rent Expens

e

Drawing

s

Wage

s

Stationer

y

Donation

s 20X8 Oct 1

301

Rent

1 320

120

1 200

2 302 Inventory 495 450 45 7 303 Inventory 110 100 10

10 304 Drawings 400 400 14 305 Wages 864 864

306 Stationery 55 5 50 22 307 Children’s Hospital –

Donation 75 75

28 308 Wages 884 884 309 Drawings 450 450

31 310 Heart Foundation – Donation

200 200

4 853 550 180 1 200 850 1

748 50 275

(125) (110) (135) (745) (460) (740) (762) (777)


93

(b) General Ledger of V Wilson

Inventory Folio no: 110 20X8

Oct 31 Bank CP1 550

Bank Folio no: 125 20X8

Oct 31 Cash payments CP1 4 853

GST Paid Folio no: 135 20X8

Oct 31 Bank CP1 180

Drawings Folio no: 460 20X8

Oct 31 Bank CP1 850

Wages Folio no: 740 20X8

Oct 31 Bank CP1 1 748

Rent Expense Folio no: 745 20X8

Oct 31 Bank CP1 1 200

Stationery Folio no: 762 20X8

Oct 31 Bank CP1 50

Donations Folio no: 777 20X8

Oct 31 Bank CP1 275 (c)

V Wilson Trial Balance as at 31 October 20X8

Dr Cr Inventory 550 Bank 4 853 GST paid 180 Drawings 850 Wages 1 748 Rent expense 1 200 Stationery 50 Donations 275 4 853 4 853


94

Solution 6.6 (a) General Journal of M Jolski Folio no: GJ1

Date Particulars Folio Debit Credit 20X3 $ $ April 1 Inventory 110 20 000

Capital 455 20 000 Inventory introduced at commencement

(b) Sales Journal of M Jolski Folio no: SJ1

Date

Invoice/ Cr Note

Cost of Goods Sold


Folio

Accounts Receivable

Sales

GST Collected

Rent Income

20X3 April 2

301

1 700

L Duffy – Sales

115.1

4 180

3 800

380

6 27 (140) l duffy – sales returns 115.1 (330) (300) (30) 8 302 2 500 G Mawson – Sales 115.2 5 676 5 160 516

13 303 2 200 F Daly – Sales 115.3 5 236 4 760 476 20 28 Nil F Daly – Sales allowance 115.3 (242) (220) (22) 22 304 J Hawkes – Rent income 115.4 2 090 190 1 900

6 260 16 610 13 200 1 510 1 900

(110) (600)

(505) (315) (510)

Purchases Journal of M Jolski Folio no: PJ1

Date

Invoice/Cr

Note Accounts Payable/

Particulars

Folio

Accounts

Payable

Inventory GST Paid

Telephon

e

Office Furnitur

e

Advertisin

g 20X3 April 3

809

F Wegner – Inventory

305.1

3 190

2 900

290

5 1071 M Burns – Inventory 305.2 1 617 1 470 147 17 37985 Tuspo Telephone Co –

Telephone 305.3 528 48 480 27 329 N Atkins – Office furniture 305.4 3 740 340 3 400 28 3412 Tuspo Telephone Co –

Allowance 305.3 (77) (7) (70) 30 5687 Candle Newspaper Co –

Advertising 305.5 264 24 240 9 262 4 370 842 410 3 400 240

(110) (135) (755) (230) (710) Cash Receipts Journal of M Jolski Folio no: CR1

Date

Rec No

Cost of Goods Sold Drawer and/or Particulars

Folio

Bank

Accounts Receivable

Discount Allowed

Sales

GST Collected

20X3 April 7

201

Accounts receivable – L Duffy

115.1

3 696

3 850

(140)

(14)

12 202 350 P Hughes – Sales 836 760 76 14 203 Accounts receivable – G Mawson 115.2 5 533 5 676 (130) (13)

350 10 065 9 526 (270) 760 49

(110) (600)

(125) (610) (505) (315)


95

Cash Payments Journal of M Jolski Folio no: CP1

Date Chq No Payee and/or Particulars

Folio

Bank

Accounts Payable

Discount Received

Inventory

GST Paid

20X3 April 15

3451

F Wegner – Accounts payable

305.1

3 069

3 190

(110)

(11)

24 3452 M Burns – Accounts payable 305.2 1 540 1 617 (70) (7) 26 3453 J Barry – Inventory 1 397 1 270 127

6 006 4 807 (180) 1 270 109

(125) (525) (110) (135) (c)

General Ledger of M Jolski Inventory Folio no: 110

20X3 20X3 April 1 Capital GJ1 20 000 April 30 Cost of goods sold SJ1 6 260

30 Accounts payable PJ1 4 370 Cost of goods sold CR1 350 Bank CP1 1 270 Balance c/d 19 030 25 640 25 640

May 1 Balance b/d 19 030

Accounts Receivable – L Duffy Folio no: 115.1 20X3 20X3

April 2 Sales SJ1 4 180 April 6 Sales(Returns) SJ1 330 7 Bank CR1 3 850 4 180 4 180

Accounts Receivable – G Mawson Folio no: 115.2

20X3 20X3 April 8 Sales SJ1 5 676 April 14 Bank CR1 5 676

Accounts Receivable – F Daly Folio no: 115.3

20X3 20X3 April 13 Sales SJ1 5 236 April 20 Sales (allowance) SJ1 242 30 Balance c/d 4 994 5 236 5 236 May 1 Balance b/d 4 994

Accounts Receivable – J Hawkes Folio no: 115.4

20X3 April 22 Rent income SJ1 2 090

Bank Folio no: 125

20X3 20X3 April 30 Receipts CR1 10 065 April 30 Payments CP1 6 006 Balance c/d 4 059 10 065 10 065 May 1 Balance b/d 4 059


20X3 April 30 Accounts payable PJ1 842

Bank CP1 109 951

Office Furniture Folio no: 230

20X3 April 30 Accounts payable PJ1 3 400

Accounts Payable – F Wegner Folio no: 305.1

20X3 20X3 April 15 Bank CP1 3 190 April 3 Purchases PJ1 3 190


96

Accounts Payable – M Burns Folio no: 305.2

20X3 20X3 April 24 Bank CP1 1 617 April 5 Purchases PJ1 1 617

Accounts Payable – Tuspo Telephone Co Folio no: 305.3

20X3 20X3 April 28 Telephone – allowance PJ1 77 April 17 Telephone PJ1 528

30 Balance c/d 451 528 528 May 1 Balance b/d 451

Accounts Payable – N Atkins Folio no: 305.4

20X3 April 27 Office furniture PJ1 3 740

Accounts Payable – Candle Newspaper Co Folio no: 305.5

20X3 April 30 Advertising PJ1 264


20X3 April 30 Accounts receivable SJ1 1 510

Bank CR1 49 1,559


20X3 April 1 Inventory GJ1 20 000

Sales Folio no: 505

20X3 April 30 Accounts receivable SJ1 13 200 Bank CR1 760 13 960

Rent Income Folio no: 510

20X3 April 30 Accounts receivable SJ1 1 900

Discount Received Folio no: 525

20X3 April 30 Bank CP1 180

Cost of Goods Sold Folio no: 600 20X3

April 30 Inventory SJ1 6 260 Inventory CR1 350 6 610


20X3 April 30 Bank CR1 270

Advertising

Folio no: 710


Telephone Folio no: 755



97

(d) M Jolski

Trial Balance as at 30 April 20X3 Dr Cr Inventory 19 030 Accounts receivable – F Daly 4 994 Accounts payable – J Hawkes 2 090 Bank 4 059 GST Paid 951 Office furniture 3 400 Accounts payable – Tuspo Telephone Co 451 Accounts payable – N Atkins 3 740 Accounts payable – Candle Newspaper Co 264 GST Collected 1,559 Capital 20 000 Sales 13 960 Rent income 1 900 Discount received 180 Cost of goods sold 6 610 Discount allowed 270 Advertising 240 Telephone 410 42,054 42,054

Solution 6.7 (a) General Journal of M Duffy Folio no: GJ1

Date Particulars Folio Debit Credit 20X6 $ $ July 1 Inventory 110 18 700

Bank 125 10 000 GST paid 135 1 700 Capital 455 30 400 Assets introduced as capital at commencement of business

(b) Sales Journal of M Duffy Folio no: SJ1

Date


Cost of goods sold


Folio

Accounts Receivable

Sales

GST Collected

20X6 July 2

990

A Gabriel – Sales

115.1

2 167

1 970

197

8 1 420 A Gabriel – Sales 115.1 3 179 2 890 289 1 520 M Morrow – Sales 115.2 3 322 3 020 302

10 (140) M Morrow – Sales Returns 115.2 (308) (280) (28) 3 790 8 360 7 600 760

(110) (600)

(505) (315)

Purchases Journal of M Duffy Folio no: PJ1

Date

Invoice/ Cr Note


Folio

Accounts Payable

Inventory GST Paid

Motor Vehicle

Freight Outwards

20X6 July 3 Mountain Motors – Motor vehicle 13 200 1 200 12 000

4 D Ainsworth – Purchases 3 531 3 210 321 5 E Esgate – Purchases 2 805 2 550 255

25 A Turner – Freight outwards 143 13 130 26 D Ainsworth – Allowance (506) (460) (46)

19 173 5 300 1 743 12 000 130

(110) (135) (225) (715)


98

Cash Receipts Journal of M Duffy Folio no: CR1

Date

Rec No

Cost of Goods Sold

Drawer and/or Particulars

Folio

Bank

Accounts Receivable

Discount Allowed

Sales

Loan

GST Collected

20X6 July

1

BEGG Finance – Loan

10 000

10 000

16 1 180 Sales 2 596 2 360 236 20 A Gabriel 115.1 5 137 5 346 (190) (19)

1 180 17 733 5 346 (190) 2 360 10 000 217

(110) (600)

(125) (610) (505) (410) (315)

Cash Payments Journal of M Duffy Folio no: CP1

Date

Chq No


Folio

Bank

Accounts Payable

Discount Received

Inventory

GST Paid

Electricity

20X6 July 14

Mountain Motors

305.1

5 000

5 000

22 Inventory (Purchases) 4 521 4110 411 27 D Ainsworth 305.2 2 904 3 025 (110) (11) 28 Electricity 473 43 430

12 898 8 025 (110) 4110 443 430

(125) (525) (110) (135) (750) (c) General Ledger of M Duffy

Inventory Folio no: 110 20X6 20X6 July 1 Capital GJ1 18 700 July 31 Cost of goods sold SJ1 3 790

31 Accounts payable PJ1 5 300 Cost of goods sold CR1 1 180 Bank CP1 4 110 Balance c/d 23 140 28 110 28 110

Aug 1 Balance b/d 23 140

Accounts Receivable – A Gabriel Folio no: 115.1 20X6 20X6

July 2 Sales SJ1 2 167 July 21 Bank CR1 5 346 Sales SJ1 3 179 5 346 5 346

Accounts Receivable – M Morrow Folio no: 115.2

20X6 20X6 July 8 Sales SJ1 3 322 July 10 Sales (returns) SJ1 308

31 Balance c/d 3 014 3 322 3 322

Aug 1 Balance b/d 3 014

Bank Folio no: 125 20X6 20X3 July 1 Capital GJ1 10 000 July 31 Payments CP1 12 898 31 Receipts CR1 17 733 Balance c/d 14 835

27 733 27 733 Aug 1 Balance b/d 14 835


20X6 July 1 Capital GJ1 1 700

31 Accounts payable PJ1 1 743 Bank CP1 443 3 886


99

Motor Vehicles Folio no: 225

20X6 July 31 Accounts payable PJ1 12 000

Accounts Payable – Mountain Motors Folio no: 305.1

20X6 20X6 July 1 Bank CP1 5 000 July 3 Motor vehicle PJ1 13 200 31 Balance c/d 8 200 13 200 13 200 Aug 1 Balance b/d 8 200

Accounts Payable – D Ainsworth Folio no: 305.2

20X6 20X6 July 26 Inventory – allowance PJ1 506 July 4 Inventory PJ1 3 531 27 Bank CP1 3 025 3 531 3 531

Accounts Payable – E Esgate Folio no: 305.3

20X6 July 5 Inventory PJ1 2 805

Accounts Payable – A Turner

Folio no: 305.4

20X6 July 25 Freight outwards PJ1 143


20X6 July 31 Accounts receivable SJ1 760 Bank CR1 217 977

Loan from BEGG Finance Folio no: 410

20X6 July 31 Bank CR1 10 000


20X6 July 1 Assets & Liabilities GJ1 30 400

Sales Folio no: 505

20X6 July 31 Accounts receivable SJ1 7 600 Bank CR1 2 360 9 960


20X6 July 31 Bank CP1 110


20X6 July 31 Inventory SJ1 3 790 Inventory CR1 1 180 4 970


20X6 July 31 Bank CR1 190

Freight Outwards

Folio no: 715 20X6

July 31 Accounts payable PJ1 130


100

Electricity Folio no: 750 20X6

July 31 Bank CP1 430

(d) M Duffy

Trial Balance as at 31 July 20X6 Dr Cr Inventory 23 140 Accounts receivable – M Morrow 3 014 Bank 14 835 GST Paid 3 886 Motor vehicles 12 000 Accounts payable – Mountain Motors 8 200 Accounts payable – E Esgate 2 805 Accounts payable – A Turner 143 GST collected 977 Loan from BEGG Finance 10 000 Capital 30 400 Sales 9 960 Discount received 110 Cost of goods sold 4 970 Discount allowed 190 Freight outwards 130 Electricity 430 62 595 62 595

Solution 6.8 (a) General Journal of T Harrison Folio no: GJ1

Date Particulars Folio Debit Credit 20X4 $ $ May 1 Bank 125 5 060

Inventory 110 16 500 Plant & equipment 220 8 290 Accounts receivable – B Roberts 115.1 890 Accounts receivable – B Butler 115.2 283 GST collected 315 175 Accounts payable – D Dobbie 305.1 339 Accounts payable – F Ferris 305.2 383 Capital – T Harrison 455 30 126 Assets and liabilities at this date

(b) Purchases Journal of T Harrison Folio no: PJ1

Date

Invoice/ Cr Note


Folio

Accounts Payable

Inventory

Plant & Equip

Rates GST paid

20X4 May 5

F Ferris – Inventory

305.2

352

320

32

J Jackman – Inventory 305.5 407 370 37 14 F Ferris – Allowance 305.2 (55) (50) (5) 21 P Penton Ltd – Plant & Equip 305.3 99 90 9 26 Great Lakes Council – Rates 305.4 890 890

1 693 640 90 890 73 (110) (220) (760) (135)

Sales Journal of T Harrison Folio no: SJ1

Date


Cost of Goods Sold


Folio

Accounts Receivable

Sales

GST Collected

20X4 May 3

100

B Butler – Sales

115.2

209

190

19

90 C Castle – Sales 115.3 187 170 17 19 (12) B Butler – Returns 115.2 (33) (30) (3)

178 363 330 33 (110)

(600) (505) (315)


101

Cash Payments Journal of T Harrison Folio no: CP1

Date

Chq No


Folio

Bank

Accounts Payable

Discount Received Inventory

Wages

Drawings GST Paid

20X4 May 2

Purchases

209

190

19

8 Wages 259 259 12 D Dobbie – creditor 305.1 317 339 (20) (2) 14 Drawings 23 23

808 339 (20) 190 259 23 17 (525) (110) (740) (460) (135)

Cash Receipts Journal of T Harrison Folio no: CR1

Date

Receipt No

Cost of Goods Sold

Drawer and/or Particulars

Folio

Bank

Accounts Receivable

Discount Allowed

Cash Sales

GST Collected

20X4 May 2

190

Sales

341

310

31

19 120 Sales 220 200 20 20 B Roberts 115.1 857 890 (30) (3) 22 C Castle 115.3 176 187 (10) (1)

310 1 594 1 077 (40) 510 47 (110)

(660) (610) (505) (315)

(c) General Ledger of T Harrison

Inventory Folio no: 110 20X4 20X4 May 1 Capital GJ1 16 500 May 31 Cost of goods sold SJ1 178

31 Accounts payable PJ1 640 Cost of goods sold CR1 310 Bank CP1 190 Balance c/d 16 842 17 330 17 330

June 1 Balance b/d 16 842

Accounts Receivable – B Roberts Folio no: 115.1 20X4 20X4 May 1 Capital GJ1 890 May 20 Bank CR1 890

Accounts Receivable – B Butler Folio no: 115.2

20X4 20X4 May 1 Capital GJ1 283 May 19 Sales – Returns SJ1 33

31 Sales SJ1 209 31 Balance c/d 459 492 492 June 1 Balance b/d 459

Accounts Receivable – C Castle Folio no: 115.3

20X4 20X4 May 3 Sales SJ1 187 May 22 Bank CR1 187

Bank Folio no: 125

20X4 20X3 May 1 Capital GJ1 5 060 May 31 Payments CP1 808

31 Receipts CR1 1 594 Balance c/d 5 846 6 654 6 654 June 1 Balance b/d 5 846

GST Paid

Folio no: 135

20X4 May 31 Accounts payable PJ1 73

Bank CP1 17 90


102

Plant & Equipment Folio no: 220

20X4 May 1 Capital GJ1 8 290

21 Accounts Payable PJ1 90 8 380

Accounts Payable – D Dobbie Folio no: 305.1 20X4 20X4

May 12 Bank 339 May 1 Capital GJ1 339

Accounts Payable – F Ferris Folio no: 305.2 20X4 20X4

May 14 Purchases – returns PJ1 55 May 1 Capital GJ1 383 31 Balance c/d 680 5 Inventory PJ1 352 735 735 June 1 Balance b/d 680

Accounts Payable – P Penton Ltd Folio no: 305.3

20X4 May 21 Plant & Equipment PJ1 99

Accounts Payable – Great Lakes Council

Folio no: 305.4

20X4 May 26 Rates PJ1 890

Accounts Payable – J Jackman

Folio no: 305.5

20X4 May 5 Inventory PJ1 407

GST Collected

Folio no: 315

20X4 May 1 Capital GJ1 175

31 Accounts receivable SJ1 33 Bank CR1 47 255

Capital – T Harrison Folio no: 455

20X4 May 1 Assets & Liabilities GJ1 30 126

Drawings Folio no: 460

20X4 May 14 Bank CP1 23

Sales Folio no: 505

20X4 May 31 Accounts receivable SJ1 330 Bank CR1 510 840


20X4 May 31 Bank CP1 20


20X4 May 31 Inventory SJ1 178

Inventory CR1 310 488


20X4 May 31 Bank CR1 40


103


May 31 Bank CP1 259

Rates Folio no: 760 20X4

May 31 Accounts payable PJ1 890 (d)

T Harrison Trial Balance as at 31 May 20X4

Dr Cr Inventory 16 842 Accounts receivable – B Butler 459 Bank 5 846 GST paid 90 Plant & equipment 8 380 Accounts payable – F Ferris 680 Accounts payable – P Penton Ltd 99 Accounts payable – Great Lakes Council 890 Accounts payable – J Jackman 407 GST collected 255 Capital 30 126 Drawings 23 Sales 840 Discount received 20 Cost of goods sold 488 Discount allowed 40 Wages 259 Rates 890 33 317 33 317

Solution 6.9 (a) General Ledger of R Donald

Inventory Folio no: 110 20X7 20X7 Oct 1 Capital GJ1 14 730 Oct 31 Cost of goods sold SJ1 660

31 Accounts payable PJ1 1 390 Cost of goods sold CR1 2 370 Bank CP1 840 Balance c/d 13 930 16 960 16 960

Nov 1 Balance b/d 13 930

Accounts Receivable – G Mason Folio no: 115.1 20X7 Oct 1 Capital GJ1 440

Accounts Receivable – M Gregg Folio no: 115.2

20X7 20X7 Oct 1 Capital GJ1 840 Oct 17 Sales – return SJ1 22

3 Bank CR1 340 31 Balance c/d 478 840 840

Nov 1 Balance b/d 478

Accounts Receivable – W Wilson Folio no: 115.3 20X7 Oct 5 Sales SJ1 352

Accounts Receivable – T Thomas Folio no: 115.4

20X7 20X7 Oct 5 Sales SJ1 561 Oct 27 Bank CR1 250

31 Balance c/d 311 561 561

Nov 1 Balance b/d 311


104

Accounts Receivable – J Anderson Folio no: 115.5

20X7 20X7 Oct 5 Sales SJ1 110 Oct 25 Bank CR1 110

Accounts Receivable – P Crisp Folio no: 115.6

20X7 Oct 5 Sales SJ1 209

Accounts Receivable – S Meale Folio no: 115.7

20X7 Oct 5 Office furniture SJ1 1 100

Bank Folio no: 125

20X7 20X7 Oct 1 Capital GJ1 15 360 Oct 31 Payments CP1 5 304

31 Receipts CR1 5 023 Balance c/d 15 079 20 383 20 383 Nov 1 Balance b/d 15 079


20X7 Oct 1 Capital GJ1 1 395

31 Accounts payable PJ1 1 639 Bank CP1 341 3 375

Motor Vehicle Folio no: 225 20X7

Oct 23 Freeman Motors PJ1 15 000

Office Furniture Folio no: 230 20X7 20X7 Oct 1 Capital GJ1 1 560 Oct 5 Accounts receivable SJ1 1 000

16 Bank CP1 2 000 Balance c/d 2 560 3 560 3 560

Nov 1 Balance b/d 2 560

Accounts Payable – J Jay Folio no: 305.1 20X7 20X7

Oct 14 Bank CP1 230 Oct 1 Capital GJ1 230

Accounts Payable – F Franks Folio no: 305.2 20X7

Oct 1 Capital GJ1 365

Accounts Payable – B Jackson Folio no: 305.3 20X7

Oct 8 Inventory PJ1 220

Accounts Payable – F Kennard Folio no: 305.4 20X7

Oct 8 Inventory PJ1 187

Accounts Payable – B Burton Folio no: 305.5 20X7 20X7

Oct 17 Inventory allowance PJ1 33 Oct 13 Inventory PJ1 836 27 Bank CP1 803 836 836

Accounts Payable – G George Folio no: 305.6

20X7 Oct 13 Inventory PJ1 66


105

Accounts Payable – P Wilson Folio no: 305.7

20X7 Oct 13 Inventory PJ1 253

Accounts Payable – Freeman Motors

Folio no: 305.8

20X7 Oct 23 Motor vehicle PJ1 16 500


20X7 Oct 31 Accounts receivable SJ1 210 Bank CR1 393

603


20X7 Oct 1 Assets & Liabilities GJ1 33 730

Sales Folio no: 505

20X7 Oct 31 Accounts receivable SJ1 1 100 Bank CR1 3 950 5 050


20X7 Oct 31 Bank CP1 10


20X7 Oct 31 Inventory SJ1 660 Inventory CR1 2 370 3 030


20X7 Oct 31 Bank CR1 20

Advertising

Folio no: 710 20X7

Oct 31 Bank CP1 150


Oct 31 Bank CP1 500

Rent Folio no: 745 20X7

Oct 31 Bank CP1 250

Telephone Folio no: 755 20X7

Oct 31 Bank CP1 100

Cleaning Folio no: 767 20X7

Oct 31 Bank CP1 80

Bank Charges Folio no: 792 20X7

Oct 31 Bank CP1 20


106

(b) R Donald

Trial Balance as at 31 October 20X7 Dr Cr Inventory 13 930 Accounts receivable – G Mason 440 Accounts receivable – M Gregg 478 Accounts receivable – W Wilson 352 Accounts receivable – T Thomas 311 Accounts receivable – P Crisp 209 Accounts receivable – S Meale 1 100 Bank 15 079 GST Collected 3 375 Motor vehicles 15 000 Office furniture 2 560 Accounts payable – F Franks 365 Accounts payable – B Jackson 220 Accounts payable – F Kennard 187 Accounts payable – G George 66 Accounts payable – P Wilson 253 Accounts payable – Freeman Motors 16 500 GST collected 603 Capital – R Donald 33 730 Sales 5 050 Discount received 10 Cost of goods sold 3 030 Discount allowed 20 Advertising 150 Wages 500 Rent 250 Telephone 100 Cleaning 80 Bank Charges 20 56 984 56 984


107

6.10 (a) General Journal of A Dederson GJ1

Date Particulars Folio Debit Credit 20X3 $ $ Sep 1 Plant & machinery 215 54 000 Motor vehicles 225 56 000 Inventory 110 38 400 Accounts receivable – H Esbawn 115.1 12 800 Accounts receivable – P KIlby 115.2 6 400 Accounts receivable – W Etton 115.3 1 692 GST paid 135 600 Bank overdraft 310 10

600 Accounts payable – W Fagnall 305.1 1 366 Accounts payable – G Karvey 305.2 2 406 Accounts payable – L Hynn 305.3 2 818 GST Collected 315 4 000 Loan 410 20 00

0 Capital 455 128

702 Assets and liabilities introduced at commencement of business

5 Bad debts 787 4 660 GST collected 315 466 Accounts receivable – P Kilby 115.2 5 126 Bad debts written off

8 Late fee expense 797 120 GST paid 135 12 Accounts payable – G Karvey 305.2 132 Late fee charged on overdue account

(b) Sales Journal of A Dederson SJ1

Date

Cost of Goods Sold Details Folio

Accounts Receivabl

e Sales Motor

Vehicle

GST Collecte

d 20X3 $ $ $ $ Sep 3 1 420 W Etton 115.3 2 860 2

600 260

7 (80) W Etton – returns 115.3 (176) (160) (16) 9 O Lakes 115.4 30 800 28

000 2 800

1 340 33 484 2 440

28 000

3 044

(600) (110)

(505) (225) (315)

Purchases Journal of A Dederson PJ1

Date Details Folio

Accounts

Payable Inventory Motor

Vehicle GST Paid

20X3 $ $ $ $ Sep 3 S Wafire 305.4 3 256 2 960 296

12 M Dills 305.5 42 680 38 800 3 880 16 S Wafire – returns 305.4 (264) (240) (24)

45 672 2 720 38 800 4 152 (110) (225) (135)

Cash Payments Journal of A Dederson CPJ1

Date Particulars Folio Bank Accounts Payable

Discount Received Wages

GST Paid

20X3 $ $ $ $ $ Sep 6 Wages 1 380 1 380

12 M Dills 305.5 4 800 4 800


108

14 G Karvey 305.2 800 800 21 W Fagnall 305.1 1 322 1 366 (40) (4)

8 302 6 966 (40) 1 380 (4) (125) (525) (740) (135)

Cash Receipts Journal of A Dederson CRJ1

Date Particulars Folio Bank

Accounts

Receivable

Discount

Allowed

GST Collecte

d 20X3 $ $ $ $ $ Sep

5 P Kilby 115.2 1 274 1 274

13 H Esbawn 115.1 12 536 12 800 (240) (24) 23 W Etton 115.3 4 376 4 376 29 W Etton – dishonoured cheque 115.3 (4 376) (4 376)

13 810 14 074 (240) (24) (125) (785) (315)

(c) Inventory Folio 110 20X3

20X3

Sep 1

Capital GJ1 38 400

Sep 30 Cost of goods sold SJ1 1 340

30 Accounts payable PJ1 2 720 Balance c/d 39 780

41 120

41 120

Oct 1

Balance b/d 39 780


109

Accounts Receivable – H Esbawn Folio 115.1 20X

3 20X3

Sep 1

Capital GJ1 12 800

30 Bank CR1 12 800

Accounts Receivable – P Kilby Folio 115.2 20X

3 20X3

Sep 1

Capital GJ1 6 400 Sep 5

Bad debts GJ1 5 126

30 Bank CR1 1274 6 400 6 400 Accounts Receivable – W Etton Folio 115.3 20X

3 20X3

Sep 1

Capital GJ1 1 692 Sep 5

Sales Returned SJ1 176

30 Sales SJ1 2 860 30 Bank CR1 4 376 Bank (dishonour) CR1 4 376 Balance c/d 4 376 8 928 8 928 Oct 1

Balance b/d 4 376

Accounts Receivable – O Lakes Folio 115.4 20X

3

Sep 9

Motor Vehicle SJ1 30 800

GST Paid Folio 135 20X

3 20X3

Sep 1

Capital GJ1 600 Sep 5

Bank CP1 4

8 Accounts receivable – G Karvey GJ1

12

30 Inventory PJ1 4 152 Balance c/d 4 760 4 764 4 764 Oct 1

Balance b/d 4 760

Plant & Machinery Folio 215 20X3

Sep 1

Capital GJ1 54 000

Motor Vehicles Folio 225 20X3

20X3

Sep 1

Capital GJ1 56 000

Sep 30 Accounts receivable SJ1 28 000

30 Accounts payable PJ1 38 800

Balance c/d 66 800

94 800

94 800

Oct 1

Balance b/d 66 800

Bank Overdraft Folio 310 20X

3 20X3

Sep 30 Receipts CR1 13 810

Sep 1

Capital GJ1 10 600

Balance c/d 5 092 30 Payments CP1 8 302 18 18


110

902 902 Oct

1 Balance b/d 5 092

Accounts Payable – W Fagnall Folio 305.1 20X

3 20X3

Sep 30 Bank CP1 1 366 Sep 1

Capital GJ1 1 366

Accounts Payable – G Karvey Folio 305.2 20X

3 20X3

Sep 30 Bank CP1 800 Sep 1

Capital GJ1 2 406

Balance c/d 1 738 8 Late fee expense GJ1 132 2 538 2 538 Oct

1 Balance b/d 1 738

Accounts Payable – L Hynn Folio 305.3

20X3 Sep 1 Capital GJ1 2 818

Accounts Payable – S Wafire Folio 305.4 20X

3 20X3

Sep16 Purchases (returned) PJ1 264 Sep 3 Purchases PJ1 3 256 Balance c/d 2 992 3 256 3 256 Oct 1 Balance b/d 2 992 Accounts Payable – M Dills Folio 305.5 20X

3 20X3

Sep 30 Bank CP1 4 800 Sep 12

Purchases PJ1 42 680

Balance c/d 37 880

42

680 42 680

Oct1 Balance b/d 37 880 GST Collected Folio 315 20X

3 20X3

Sep 5

Accounts receivable – P KIlby GJ1

466 Sep 1 Capital GJ1 4 000

30 Bank CR1 24 30 Accounts receivable SJ1 3 044 Balance c/d 6 554 7 044 7 044 Oct 1 Balance b/d 6 554 Loan Folio 410 20X3 Sep 1 Capital 20 000 Capital Folio 455 20X3 Sep 1 Assets and liabilities GJ1 128

702 Sales Folio 505 20X3 Sep 30 Accounts receivable SJ1 2 440 Discount Received Folio 525 20X3 Sep 30 Bank CP1 40 Cost of Goods Sold Folio 600


111

20X3

Sep 30 Inventory 1 340 Discount Allowed Folio 610 20X

3

Sep 30 Bank 240

Wages Folio 740 20X

3

Sep 30 Bank 1 380 Bad Debts Folio 787 20X

3

Sep 5

Accounts receivable – P KilbyGJ1 4 660

Late Fee Expense Folio 797 20X

3

Sep 30 Accounts payable – G KarveyGJ1 120 (d) A Dederson Trial Balance as at 30 September 20X3

$ $ Inventory 39 780 Accounts receivable – W Etton 4 376 Accounts receivable – O Lakes 30 800 GST paid 4 760 Plant & machinery 54 000 Motor vehicles 66 800 Bank Overdraft 5 092 Accounts payable – G Karvey 1 738 Accounts payable – L Hynn 2 818 Accounts payable – S Wafire 2 992 Accounts payable – M Dills 37 880 GST collected 6 554 Loan 20 000 Capital 128 702 Sales 2 440 Discount received 40 Cost of goods sold 1 340 Discount allowed 240 Wages 1 380 Bad debts 4 660 Interest expense 120 208 256 208 256


112

6.11 (a) General Journal of C Kole GJ1

Date Particulars Folio Debit Credit 20X2 $ $ Jul 1 Inventory 110 23 040

Accounts receivable – G Wynne 115.1 715 Accounts receivable – M Forrison 115.2 713 Accounts receivable – S Hadel 115.3 596

Bank 125 11 236 Petty cash 130 600

GST paid 135 1 446 Land and buildings 210 132 000

Plant and equipment 220 40 926 Accounts payable – J Bonson 305.1 985 Accounts payable – W Addell 305.2 503 Accounts payable – T Mek 305.3 2 509 GST Collected 315 900 Finance Company Ltd (loan account) 410 10

200 Capital 455 196

175 Assets and liabilities introduced at commencement of business

3 Accounts receivable – M Everdith 115.4 286 Bad Debts Recovered 540 260 GST Collected 315 26 Bad debts recovered

6 Accounts receivable – S Hadel 115.3 55 Late fee income 547 50 GST Collected 315 5 Late fee charged on overdue account

25 Bad debts 787 650 GST paid 315 65 Accounts receivable – G Wynne 115.1 715 Bad debts written off

(b) Sales Journal of C Kole SJ1

Date

Cost of Goods Sold Details Folio

Accounts Receivabl

e Sales Plant

GST Collecte

d 20X2 $ $ $ $ Jul 2 (66) M Forrison – returns 115.2 (143) (130) (13)

11 300 M Forrison 115.2 715 650 65 17 C Larke 115.5 165 150 15

234 737 520 150 67 (600)

(110) (505) (225) (315)

Purchases Journal of C Kole PJ1

Date Details Folio

Accounts

Payable Inventory GST Paid

20X2 $ $ $ Jul 5 W Addell 305.2 495 450 45

7 W Addell 305.2 (33) (30) (3) 462 420 42 (110) (135)

Cash Payments Journal of C Kole CPJ1

Date Particulars Folio Bank Accounts Payable

Discount Received

GST Paid

20X2 $ $ $ $ Jul 6 J Bonson 305.1 919 985 (60) (6)

23 W Addell 305.2 921 965 (40) (4)


113

1 840 1 950 (100) (10) (125) (525) (135)

Cash Receipts Journal of C Kole CRJ1

Date

Cost of Goods Sold

Particulars Folio Bank

Accounts

Receivable Sales

Discount

Allowed

GST Collect

ed 20X2 $ $ $ $ $ $ Jul 3 M Everdith 115.4 286 286

4 M Forrison 115.2 537 570 (30) (3) 14 510 Sales 505 1 133 1 030 103 18 M Forrison 115.2 715 715 21 M Forrison 115.2 (715) (715)

510 1 956 856 1 030 (30) 100 (600)

(110) (125) (785) (785) (315)


114

c) Inventory Folio 110 20X2

20X2

Jul 1 Capital GJ1 23 040

Jul 31 Cost of goods sold SJ1 234

31 Accounts payable PJ1 420 Cost of goods sold CRJ1 510 Balance c/d 22

716 23

460 23

460 Aug 1

Balance b/d 22 716

Accounts Receivable – G Wynne Folio 115.1 20X

2 20X2

Jul 1 Capital GJ1 715 25 Bad Debts GJ1 715 Accounts Receivable – M Forrison Folio 115.2 20X

2 20X2

Jul 1 Capital GJ1 713 Jul 2 Sales - returned SJ1 143 11 Sales SJ1 715 4 Bank CR1 570 21 Bank – dishonoured chequeCRJ1 715 18 Bank CR1 715

31 Balance c/d 715 2 143 2 143 Aug 1

Balance b/d 715

Accounts Receivable – S Hadel Folio 115.3 20X

2

Jul 1 Capital GJ1 596 6 Late fee income GJ1 55

651 Accounts Receivable – M Everdith Folio 115.4 20X

2 20X2

Jul 3 Bad Debts Recovered GJ1 286 Jul 3 Bank CRJ1 286 Accounts Receivable – C Larke Folio 115.5 20X

2

Jul 17

Sales SJ1 165

Bank Folio 125 20X

2 20X2


31 Payments CP1 1 840

Jul 31 Receipts CR1 1 956 Balance c/d 11 352

13 192

13 192

Aug 1

Balance b/d 11 352

Petty Cash Folio 130 20X

2

Jul 1 Capital GJ1 600

GST Paid Folio 135 20X 20X2


115

2 Jul 1 Capital GJ1 1 446 Jul 5 Bank CP1 10

25 Accounts receivable – G Wynne GJ1

65

31 Inventory PJ1 42 Balance c/d 1 543 1 553 1 553 Aug 1

Balance b/d 1 543

Land and Buildings Folio 210 20X2


Plant and equipment Folio 220 20X2

20X2


Jul 31 Accounts receivable SJ1 150

Balance c/d 40 776

40 926

40 926

Aug 1

Balance b/d 40 776

Accounts Payable – J Bonson Folio 305.1 20X

2 20X2

Jul 6 Bank CP1 985 Jul 1 Capital GJ1 985 Accounts Payable – W Addel Folio 305.2 20X

2 20X2

Jul 7 Inventory (purchases returned) PJ1

33 Jul 1 Capital GJ1 503

Jul 23

Bank CP1 965 5 Inventory (purchases) PJ1 495

998 998

Accounts Payable – T Mek Folio 305.3 20X2 Jul 1 Capital GJ1 2 509

GST Collected Folio 315 20X2

Jul 1 Capital GJ1 900 3 Accounts Receivable – M Everdith

GJ1 26

6 Accounts Receivable – S HadelGJ1 5 31 Bank CR1 100 31 Accounts receivable SJ1 67

1 098 Finance Company LTd (loan account) Folio 410 20X2 Jul 1 Capital 10 200 Capital Folio 455 20X2 Jul 1 Assets and liabilities GJ1 196

175 Sales Folio 505 20X2 Jul 31 Accounts receivable SJ1 520 Bank CR1 1 030 1 550 Discount Received Folio 525


116

20X2 Jul 31 Bank CP1 100 Bad Debts Recovered Folio 540 20X2 Jul 3 Accounts receivable – M EverdithGJ1 260 Late fee income Folio 547 20X2 Jul 6 Accounts receivable – S Hadel GJ1 50 Cost of Goods Sold Folio 600 20X

2

Jul 31 Inventory SJ1 234 Inventory CRJ1 510 744

Discount Allowed Folio 610 20X

2

Jul 31 Bank CRJ1 30

Bad Debts Folio 787 20X

2

Jul 25

Accounts receivable – G Wynne GJ1

650

(d) C Koke Trial Balance as at 31 July 20X2

$ $ Inventory 22 716 Accounts receivable – M Forrison 715 Accounts receivable – M Everdith 651 Accounts receivable – W C Larke 165 Bank 11 352 Petty cash 600 GST paid 1 543 Land and buildings 132 000 Plant and equipment 40 776 Accounts payable – T Mek 2 509 GST collected 1 098 Finance Company Ltd (loan account) 10 200 Capital 196 175 Sales 1 550 Discount received 100 Bad debts recovered 260 Late fee income 50 Cost of goods sold 744 Discount allowed 30 Bad debts 650 211 942 211 942

Documents

CHAPTER 6 ACCOUNTING TO TRIAL BALANCE – CASH … · CHAPTER 6 ACCOUNTING TO TRIAL ... (473) (430) (43) 18 203 1 650 ... Accounting to Trial Balance – Cash and Credit Journals