Prepare Financial Report Question templates 13-3-2014

Prepare Financial Report Question templates 13-3-2014 - 1...

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1 : Adjustment entries and worksheet Date Account 6/30/2011 COGS Inventory 6/30/2011 Bad debts expense GST Clearing Account Receivable 6/30/2011 Doubtful dept expense Allowance for Doubtful Dept 6/30/2011 Accrued income (commission) Commission income 6/30/2011 Depreciation expense (MV) Accumulated Depreciation (MV) 6/30/2011 Sales Bonus Expense Accrued Bonus expense 6/30/2011 Pre-paid expense (Insurance) Insurance Trail Balance Adjustments Account Debt Credit Debt Credit Stock $ 14,125 $ - $ 1,450 Account Receivable $ 35,900 $ - $ 330 Allowance for doubtful debt $ - $ 156 $ 944 Cash at bank $ 36,613 $ - Motor Vehicle $ 70,925 $ - Account Payable $ - $ 7,431 GST Clearing $ - $ 8,220 $ 30 PAYG $ 18,000 Loan $ 25,000 Drawing $ 880 $ - Capital $ - $ 37,000 Sales $ - $ 335,212 Commission income $ - $ 4,959 $ 1,600 COGS $ 155,660 $ - $ 1,450 Sales Salaries $ 44,000 $ - Sales Bonus $ 5,000 $ 2,000 Office staff Salaries $ 18,800 $ -
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Stationary $ 2,350 $ - Energy $ 18,900 $ - Insurance $ 16,375 $ - $ 550 Rent Expense $ 15,000 $ - Bad debts $ 1,450 $ - $ 300 Total $ 435,978 $ 435,978 Depreciation -MV $ 14,185 Acc-Dep MV $ 14,185 Accrued Income $ 1,600 Prepaid Exp $ 550 Accrued Exp $ 2,000 Doubtful Debt $ 944 $ 21,059 $ 21,059 Gross Profit Net Profit $ 21,059 $ 21,059 2 : Profit and Loss Statement Income Statement of GCA Pty Ltd For the Period ended 30/06/2009 Sales $ 335,212 Less
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  • One '16
  • Generally Accepted Accounting Principles, doubtful debt, Office staff Salaries, GCA Pty Ltd, Doubtful Dept

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