Balance 31 May Balance 30 June Utilities Exp 609 714 714 Wages Payable 203 Date

Balance 31 may balance 30 june utilities exp 609 714

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