Balance 31 may balance 30 june utilities exp 609 714

Balance
31-May Balance
30- June Utilities Exp. 609 714

714

Wages Payable 203
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
0
Salaries Payable 204
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
30-June-2017 Wages Exp. 601 462
30-June-2017 Salaries Exp. 612 8,162
8,624
Tax Payable 205
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
30-June Tax Exp. 610 19,600
19,600
Dividend
Payable 206
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
29-June Dividend declared 302 19,600
19,600
Bank Loan 250
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance 67,438
$67,438

31
Share Capital 300
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance 126,000
30-June-2017 Cash at Bank 100 14,000
$140,000
RetainedProfits 301
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $107,058
29-June-2017 Dividend declared 206 $
19,600
30-June-2017 Profit for the year 303 $10,164
$97,622
Dividends Declared 302
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
29-June-2017 Retained Profits $ 19,600
$ 19,600
Profit & Loss Summary 303
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance
30-June Profit 301 10,164
10,164

32
SalesRevenue 400
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $449,526
1-June-2017 Sales to Glebe
Lightning
101-2 $ 7,588
3-June-2017 Cash at Bank 100 $ 2,142
8-June-2017 A/c receivable Control
( Bellevue)
101-1 $ 7,644
10-June-2017 Cash at Bank 100 $ 2,926
14-June-2017 A/c receivable Control
(Longueville)
100-3 $ 13,818
17-June-2017 Cash at Bank 100 $ 2,779
24-June-2017 Cash at Bank 100 $ 4,368
30-June-2017 Cash at Bank 100 $ 2,604
$ 43,869 $493,395
Sales Discounts 401
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $3,451
1-June-2017 Discount on sales 101-1 $ 212
23-June-2017 cash at Bank 100 $ 224
27-June-2017 A/c receivable
Control (Glebe
Lightning)
101-3 $ 152
$ 587 $4,038
Sales Returns&Allowances 402
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $973
20-June-2017 A/c receivable Control
(Longueville)
101-3 $ 2,618
$3,591

33
Purchases 500
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $214,095
7-June-2017 A/c payable Control
(Wentworth)
200-2 $ 6,510
13-June-2017 A/c payable Control
(Parramaatta)
200-1 $ 10,710
22-June-2017 A/c payable Control
(Wentworth)
200-2 $ 10,430
$ 27,650 $ - $241,745
Purchase Discounts 501
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $2,688
2-June-2017 A/c payable Control
(Parramata)
200-1
$ 97
16-June-2017 A/c payable Control
(Wentworth)
200-2
$ 166
28-June-2017 A/c payable Control
(Wentworth)
200-2
$ 84
$ 347 $3,035
Purchase Returns &
Allowances 502
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $1,127
9-June-2017 A/c payable Control
(Wentworth)
200-2 $ 2,100
$3,227

34
Freight-Out 600
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $322
1-June-2017 Payment made for
goods delievery
100
$ 840
14-June-2017 Cash at Bank
100
$ 1,050
$ 1,890 $ - $2,212
Wages Expense –SalesStaf 601
Date Explanation Post.Ref. Debit Credit Balance
31-May Balance $107,569
15-June-2017 Cash at Bank 100 $ 6,930
29-June-2017 Cash at Bank 100 $ 6,930
$ 13,860 $
-
$121,429
Depreciation Expense – Store
Shelving & Fittings 602
Date Explanation Post.
Ref.
De
bit
Credit Balance
31-May Balance
30-Jun Acc. Depreciation 151 12,600
12,600
Depreciation Expense –
Equipment 603
Date Explanation Post.Ref
.