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35000cr drawings equity balance na 1000 1000dr

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35,000CRDrawings (EQUITY)BalanceN/A10001000DRFNS40217 Module 1.1 Assignment_1811Page13of54
Units Covered: FNSACC311, FNSACC312, BSBFIA401Service Revenue (REVENUE)DateDetailsFolioDebitCreditBalanceBankN/A2,0002,000CRCommission Revenue (REVENUE)BankN/A1,2001,200CRInterest Revenue (REVENUE)BankN/A2525CRInsurance (EXPENSE)BankN/A740740DRStationery (EXPENSE)BankN/A150150DR5(d) Trial Balance(5d)Trial BalanceDebitCreditBank98,970GST Paid1,685Vehicle16,000GST Collected320Loan80,000Capital35,000Drawings1,000Service Revenue2,000Commission Revenue1,200Interest Revenue25Insurance740Stationery150TOTAL118,545118,545FNS40217 Module 1.1 Assignment_1811Page14of54
Units Covered: FNSACC311, FNSACC312, BSBFIA4015(e)If a trial balance does not balance, what steps would you take to ensure that it balances? If the trialbalance does balance, does that mean it is fully correct, and why?
5(f) Describethe concept of double entry accounting.
The following questions are based on the material in Chapter 6:6a.T. Rade operates a petty cash system per its organisational procedures. Vouchers are checked andprocessed by the Petty Cashier and recorded in the Petty Cash Book.From the following information forT. Rade(a)prepare and balance the Petty Cash Book.(b)prepare the General Journal entries for:(i)Establishment of the petty cash fund, and(ii)Reimbursement of the fund.01/7 The Petty Cashier received cheque 4233 for $100 to establish the fund.In their organisational policy and procedure documents T. Rade specify that each expense is to be recorded ona separate voucher.During the following week the Petty Cashier checked and paid the following amounts (GST inclusive), with eachexpense being on a separate voucher (starting at Voucher No. 1):• 01/7 Tea & coffee $17.60 (GST Free),• 01/7 taxi fare $7.70• 02/7 Courier $11.00,• 02/7 stationery $4.40• 04/7 Biscuits $9.35,• 04/7 taxi fare $9.90:

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Term
One
Professor
NoProfessor
Tags
invoice, CASH RECEIPTS JOURNAL

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