Surf Haven Part A.pdf - GENERAL JOURNAL Date 17-Mar...

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Post Description Ref. Debit Credit A/P - Wave Rider S2 264.00 Inventory 1-1300 240.00 GST 2-1340 24.00 (Purchase Return - Damaged Stock) Loan Payable 2-2100 1,500.00 Interest Expense 9-1000 50.00 CAB 1-1110 1,550.00 (Paid monthly loan payment + $500 additional) Sales Returns 4-1200 640.00 GST 2-1340 64.00 A/R - Sharkey's Wye River C1 704.00 Inventory SLB 400.00 Cost of Goods Sold 5-1100 400.00 (Sale returned undamaged) Inventory Loss/Gain 5-1200 140.00 Inventory 1-1300 140.00 (Stocktake - Missing Stock) Rent Expense 6-2100 1,400.00 Advertising Expense 6-1000 130.00 Prepaid Expenses 1-2200 1,530.00 (Prepaid Expenses Expired) Stationary Supplies Expense 6-1800 840.00 Stationary Supplies 1-1400 840.00 (Stationary used during period) Depreciation - Shop Fittings 6-1300 156.25 Shop Fittings - Accumulated Depreciation 1-3120 156.25 (Depreciation for Period) Depreciation - Motor Vehicle 6-1400 366.67 Motor Vehicle - Accumulated Depreciation 1-3220 366.67 (Depreciation for Period) Depreciation - Cash Register 6-1500 29.17 Cash Register - Accumulated Depreciation 1-3320 29.17 (Depreciation for Period) Wages & Salaries Expense 6-1900 540.00 Wages Payable 2-1700 540.00 (Wages Accrual for period) Sales 4-1100 43,835.00 Lessons Revenue 4-1300 6,950.00 Freight Fees Collected 4-2000 250.00 Interest Income 8-1000 125.00 Sales Returns 4-1200 640.00 Profit or Loss Summary 3-3950 50,520.00 (Closing Revenue Accounts) Profit or Loss Summary 3-3950 33,167.89 Discount Taken 6-1220 24.00 Cost of Goods Sold 5-1100 23,830.00 Inventory - Loss/Gain 5-1200 140.00 Advertising 6-1000 130.00 Discount Given 6-1210 1,024.80 Depreciation - Shop Fittings 6-1300 156.25 Depreciation - Motor Vehicle 6-1400 366.67 24-Mar 26-Mar GENERAL JOURNAL Date 17-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar
Depreciation - Cash Register 6-1500 29.17 Motor Vehicle Expenses 6-1600 470.00 Printing 6-1700 540.00 Stationary Supplies Expense 6-1800 840.00 Wages & Salaries 6-1930 3,660.00 Rent Expense 6-2100 1,400.00 Telephone Expense 6-2200 520.00 Bank Fees 6-2300 35.00 Interest Expense 8-1000 50.00 (Closing Expense Accounts) Profit or Loss Summary 3-9500 17,352.11 Retained Earnings 3-8000 17,352.11 (Closing Profit or Loss Summary Account) Retained Earnings 3-8000 2,000.00 Drawings - Al Wilson 3-1100 2,000.00 (Closing Owners Drawings) Retained Earnings 3-8000 15,352.11 Capital - Al Wilson 3-1000 15,352.11 (Closing Retained Earnings) 31-Mar 31-Mar 31-Mar
P.O. Post. Freight GST Paid Accounts No. Account Terms Ref. Inventory Paid (Outlays) Payable 326 Custom Surfboard 2/10, n/30 5,040.00 504.00 5,544.00 327 Wave Rider 2/10, n/30 1,920.00 192.00 2,112.00 328 Custom Surfboard 2/10, n/30 6,300.00 630.00 6,930.00 329 Seahorse Publishers 2/10, n/30 120.00 12.00 132.00 330 Wave Rider 2/10, n/30 1,440.00 144.00 1,584.00 331 Seahorse Publishers 2/10, n/30 100.00 10.00 110.00 332 Custom Surfboard 2/10, n/30 5,040.00 504.00 5,544.00 333 Seahorse Publishers 2/10, n/30 150.00 15.00 165.00 334 Wave Rider 2/10, n/30 8,000.00 800.00 8,800.00 28,110.00 - 2,811.00 30,921.00 23-Mar 12-Mar 16-Mar 19-Mar 23-Mar 23-Mar PURCHASES JOURNAL Date 9-Mar 9-Mar 12-Mar