Accounting Assignment: Basic Accounting

Added on - 06 Jun 2020

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Accounting
Table of ContentsTASK...............................................................................................................................................11. Journal Accounts.....................................................................................................................12. Posting in ledger accounts.......................................................................................................33. Bank reconciliation statement.................................................................................................8REFERENCES................................................................................................................................9
TASK1. Journal AccountsThe recording of all the transactions will be carried out under this and this will be includingopening as well as closing balances.Journal accounts of PITT ST FURNITUREDateParticularsDebitCredit01/05/17Cash at bank A/c Dr.Vehicle A/c Dr.Computer A/c Dr.Accounts receivable account Dr.Purchases A/c Dr.Drawings A/c Dr.Insurance on Vehicles A/c Dr.Insurance on Purchases A/c Dr.Vehicle registration A/c Dr.Interest A/c Dr.Rent A/c Dr.Office supplies A/c Dr.Rates A/c Dr.Wages A/c Dr.Motor vehicle expenses A/c Dr.To Accounts PayableTo SalesTo CapitalTo Loan from Easy Money Ltd.118506000050002500037000800020030060024007500450130042507501200055000400005760001/05/17Petty cash A/c Dr.To Cash at bank100100Insurance for purchases A/c Dr.To Cash at bank100100Rent A/c Dr.15001
To Cash at bank150003/05/17Cash at bank A/c Dr.To Sales100001000005/05/17Duster A/c Dr.To Petty cash151507/05/17Cash at bank A/c Dr.To Accounts receivable250002500009/05/17Purchases A/c Dr.To Accounts payable172501725013/05/17Signage A/c Dr.To Petty cash505013/05/17Wages paid A/c Dr.To Cash at bank50050016/05/17Accounts Payable A/c Dr.To Cash at bank120001200021/05/17Accounts payable A/c Dr.To Purchase return1150115023/05/17Accounts receivable A/c Dr.To Sales250002500026/05/17Petty cash A/c Dr.To Cash at Bank656527/05/17Wages paid A/c Dr.To Cash at Bank50050028/05/17Drawings by owner A/c Dr.To Cash at Bank1000100029/05/17Insurance for vehicle A/cDr.To Cash at Bank5050Entries for adjustments:ParticularsDebitCredit1Depreciation for vehicle A/c Dr.62502
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