GL.xlsx - ADCDE PTY LTD GENERAL LEDGERS AS at 01 July 20XX Transaction During the Month Profit Loss Debit Credit 1-Jul Bank Owners Equity 1-Jul Accounts

GL.xlsx - ADCDE PTY LTD GENERAL LEDGERS AS at 01 July 20XX...

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ADCDE PTY LTDGENERAL LEDGERSAS at 01 July 20XXTransaction During the MonthAdjustment EntriesProfit & Loss Balance SheetDebit Credit Debit Credit Debit Credit 1-Jul Bank22,496.00 Accounts Receivable ($55/unit GST Inclusive)55 22,605.00 Depreciation CalculationsOwners Equity22,496.00 2-Jul Sales Revenue (53 units)532,650.00 Motor Vehicle5-Jul Sales Revenue (68 units)683,400.00 Cost26,219.00 check if adding back accum. Depn is correct 1-Jul Accounts Receivable4,671.00 11-Jul Sales Revenue (75 units)753,750.00 Residual Value2,293.00 Owners' Equity4,671.00 18-Jul Sales Revenue (65 units)653,250.00 Monthly Depreciation (20% p.a or 5-Yrs)398.77 22-Jul Sales Revenue (80 units)804,000.00 1-Jul Bad Debts Expense239.00 29-Jul Sales Revenue (29 units)703,500.00 Allowance for Doubtful Debts239.00 GST Clearing (Payable)2,055.00 GST inclusiveOffice furniture (SL Method)Cost15,116.00 1-Jul Inventory11,200.00 2-Jul Accouts Payable (12 days wages)1,461.43 Residual Value662.00 Owners' Equity11,200.00 Wages Expense (2days)243.57 Monthly Depreciation (20% p.a or 5-Yrs)240.90 Cash1,705.00 1-Jul Motor Vehicle21,498.00 Owners' Equity21,498.00 16-Jul Wages Expense (14 days)1,601.00 last pay amt is differentComputers (SL Method)Cash1,601.00 Cost2,107.27 1-Jul Depreciation Expense2,428.00 Residual Value- Accumulated Depreciation-MV2,428.00 5-Jul Prepaid rental expense369.84 Monthly Depreciation (35%p.a.)61.46 Rental Expense1,923.16 29.74 purchased on 5 Jul so the first month 15days policy applies1-Jul Owners' Equity4,857.00 Cash2,293.00 4,857.00 12-Jul Prepaid Insurance928.00 Inventory Shortage (expense)how is WAC done?1-Jul Owners' Equity11,210.00 Insurance Exp77.00 InventoryBank Loan11,210.00 Cash1,005.00 1-Jul Office Furniture13,695.00 5-Jul Advertising Expense682.73 for what period was it accrued?Owners' Equity13,695.00 GST Clearing (Receivable)68.27 Accounts Payable (ad)751.00 1-Jul Depreciation Expense1,421.00 Accumulated Depreciation-OF1,421.00 5-Jul Computer2,107.27 GST Clearing (Receivable)210.73 1-Jul Share Capital36,464.00 Accounts Payable2,318.00 Owners' Equity36,464.00 7-Jul Inventory (20 units @$26)472.73 GST inclusive1-Jul Retained Earnings17,426.00 14-Jul Inventory (24 units @$25)545.45 Owners' Equity17,426.00 20-Jul Inventory (26 units @$26)614.55 24-Jul Inventory (23 units @$27)564.55 1-Jul Office Supplies260.00 30-Jul Inventory (25 units @$28)636.36 Owners' Equity260.00
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  • Balance Sheet, Share capital, Generally Accepted Accounting Principles, Accum Depn, 1-Jul Depreciation Expense, ADCDE PTY LTD

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