Analyzing Financial Statements

The assignment presents a set of extracted financial statement data for an unspecified company. It includes items such as GST collected, PAYG withholding payable, superannuation payable, wages & salaries, bank loans, share capital, dividends paid, retained earnings, sales, discounts received, freight collected, cost of sales, various expenses (advertising, cleaning, depreciation), and miscellaneous entries. The task involves analyzing this data to understand the company's financial position and performance.

Name:
Date:
Institution:
1

ACCOUNTING WORKING PAPERS AND REPORT TEMPLATES
CHART OF ACCOUNTS
Account
No.
Account Name Element (Asset,
etc)
Current/non-
current
2

CHART OF ACCOUNTS
Account
No.
Account Name Element (Asset,
etc)
Current/non-
current
3

GENERAL JOURNAL
Date Description Post Ref Debit Credit
Date Description Post Ref Debit Credit
2 11 telephone expense 214492 236.5
bank 236.5
Being payment of
telephone bill
7 11 Bank 3187
Melbourne high 3187
8 11 Bad debt expense 900
Accounts receivable 900
Being bad debts written off
8 11 Bank 495
Store equipment 495
Being sale proceeds of
store equipment
8 11 Bank 495
Austin’s Auctions 495
Being payment made by
Austin Auction
15 11 Bank 440
Advertisement expense
(Southern gazette
440
Being payment for
advertisement
15 11 Bank 1755.6
Accounts payable(Herrin
wholesalers)
1755.6
Being payment for goods
4

16 11 Bank 5160.5
Yarra City council 5160.5
19 11 Bank 4258.10
Melbourne high school 4258.10
Being payment of items
5

GENERAL JOURNAL
Date Description Post Ref Debit Credit
22 11 Bank 002226 194.15
Electricity expense(Dandenong
power)
194.15
being payment of electricity
22 11 Bank 002227 9222.29
Willow equipment 9222.29
Being payment of equipment
26 11 Bank 5000
Albert park sports club(accounts
receivable)
5000
Being received payment for
equipment
27 11 Bank 002229 3175
Slogger pty ltd 3175
Being payment of services
28 11 Bank 220
Quick cleaners 220
Being payment of cleaning services
30 11 wages 400
Accounts payable 400
30 11 Prepaid insurance 3262
Bank account 3262
Being payment of prepaid insurance
30 11 Prepaid taxes and rates 3850
Bank account 3850
Being payment of prepaid taxes
6

30 11 Superannuation 144
7

GENERAL JOURNAL
Date Description Post Ref Debit Credit
Accounts payable 144
30 11 Depreciation 2267
Accumulated depreciation 2267
Depreciation for the month
30 11 Interest charge 3843.75
Bank 3843.75
Being payment interest charged
8

SALES JOURNAL
9
Date Inv
No
Account Terms Sales GST
Collected
Accounts
Receivable
Cost of Sales Dr
Inventory Cr
2 5202 Cash Cash 220 22 0
5 5203 Albert park primary
school
Cheque 2180 220 2420
8 5204 Dockland sporting club Cheque 900 90 0
12 5205 Melbourne high school Cheque 3900 395 4345
14 5206 Albert park sports club Cheque 6100 615 6765
17 5207 Cash Cash 870 87 0
23 5208 Albert park sports club Cheque 11375 1145 12600
24 5209 Cash Cash 1145 114 0
26 5210 Cash Cash 310 31 0
27 5211 Yarra city council Cheque 1780 178 1958
30 5212 Albert park primary
school
Cheque 2400 242 2662
28635

PURCHASES JOURNAL
Date Inv.
No
Account Terms Inventory
amount
GST (Paid)
(Outlays)
Freight
Paid
Accounts
Payable
1 214492 Telstra Cheque 236.5 236.5 236.5
5 11981 Herrin wholesalers Cheque 1680 168 1680
13 35972 Allsports Cheque 475 47.5 475
14 7396 Willow equipment Cheque 9410.5 855.5 9410.5
15 798 Southern Gazette Cheque 440 440
21 9496 Slogger pty ltd Cheque 7200 720 7920
21 127982 Dandenong power Cheque 17.65 194.5
26 9502 Slogger pty ltd Cheque 25 2.5 27.5
29 12002 Herrin wholesalers Cheque 1880 188 2068
30 127982 Quick cleaners Cheque 200 20 220
10

21547 2255.65
11

CASH PAYMENTS JOURNAL
Date Account
Post
Ref
Chq
No
Debits Credits
Accounts
Payable
GST Paid
(Outlays) Other
Cash at
Bank
Discount
Received
GST Paid
(Outlays)
21 Dandedon
g power
194 17.65
30 Quickclea
ners
200 20
12

CASH RECEIPTS JOURNAL
Date Accounts
Post
Ref
Debits Credits
Cash at
Bank
Cost of Sales
Sales
Accounts
Receivable
GST
Collected
Other
2 Sports
merchandise
220 220 22
17 Sports
merchandise
870 870 87
24 Sports
merchandise
1145 1145 114
26 Sports
merchandise
310 310 31
254
13

14

PETTY CASH JOURNAL
Date Details Post
Ref
Receipts Payments Balance GST Paid
(Outlays)
Postage &
Stationery
Staff
Amenities
Other
24 Charge to
postage and
stationery
001 60 60
30 Mv expense 002 55 55
115
15

16

17

INVENTORYSUBSIDIARY LEDGER
Name: Armour Cricket Pads Acct Code: ACP
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
14 11 Sales to Sports
Depot
50 44.50 2225
12 11 Sales to
Melbourne
high
12 90 1080
14 11 Purchase 50 44.5 2225
26 11 Sales 1 90 90
30 11 Sales 10 50 500
Name: Blaster Cricket Bat Acct Code: BCB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
14 11 Sales 80 62.25 4980
12 11 Sales 12 100 1200
14 11 Purchases 80 62.25 4980
26 11 Sales 2 100 200
30 11 Sales 10 100 1000
Name: Blaze Soccer Ball Acct Code: BSB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
5 11 Purchse from
herrin
10 25 250
17 11 Sales 2 50 100
18

INVENTORYSUBSIDIARY LEDGER
Name: Diablo Golf Balls (Box of 12) Acct Code: DGB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
14 11 Sales to albert
park
20 30 600
21 11 Purchase 100 15 1500
24 11 Sales 1 30 30
Name: Gifford Netball Acct Code: GNB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
5 11 Purchrse from
Herrin
wholesalers
10 20 200
5 11 Sales to Albert
Park
6 40 240
12 11 Sales to
Melbourne
10 40 400
27 11 Sales 6 40 240
29 11 Purchases
from herrin
30 20 600
Name: Herrin Football Acct Code: HFB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
5 11 Purchase from
Herrin
10 75 750
5 11 Sales to albert 8 150 1200
19

park
17 11 Sales 3 150 450
INVENTORYSUBSIDIARY LEDGER
Name: Jordan Basketball Acct Code: JBB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
5 11 Purchase from
Herrin
10 40 400
5 11 SALES TO
Albert PARK
Pry school
6 80 480
12 11 Sales to
Melboune high
10 80 800
27 11 Sales 6 80 480
29 11 Purchases
from herrin
30 40 1200
Name: Marsh Cricket ball Acct Code:MCB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
14 11 Sales 250 5 1250
12 11 Sales 24 10 240
14 11 Purchase 250 5 1250
26 11 Sales 2 10 20
29 11 Sales 50 10 500
20

Name: Netball Stand Acct Code:NBS
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
12 11 Sales to
Melbourne
2 90 180
13 11 Purchase 6 35 210
27 11 Sales 6 90 540
21

INVENTORYSUBSIDIARY LEDGER
Name: Slammer Blackboard Acct Code: SBB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
5 11 Sales to Albert
park
2 130 260
13 11 Purchase 5 53 266
27 11 Sales 4 130 520
Name: Strike Football Boots Acct Code:SFB
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
17 11 Sales 2 160 320
Name: Slogger Golf Set Acct Code:SGS
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
14 11 Purchase 5 1100 5500
21 11 Purchase 10 500 5000
23 11 Sales 10 1100 11000
24 11 Sales 1 1100 1100
22

23

INVENTORYSUBSIDIARY LEDGER
Name: GripBite Golf Gloves Acct Code: GBG
Date Explanation Purchases Cost of Sales Balance
(Horngren
2014)
Units Cost Total Units Cost Total Units Cost Total
21 11 Purchases 50 5 250
23 11 Sales 15 15 225
26 11 Sales 5 5 25
Name: Golf Putting Mat Acct Code: GPM
Date Explanation Purchases Cost of Sales Balance
Units Cost Total Units Cost Total Units Cost Total
21 11 Purchases 10 30 300
23 11 Sales 3 50 150
24

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Melbourne High school Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
12 11 Purchase of sport
merchandise
3900 4345
Name: Albert park primary school
Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
30 11 Purchase of sport
merchandise
2400 2662
Name: Yarra county council Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
27 Purchase of sport
merchandise
1780 1958
25

26

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Albert park sports club Acct Code: 001
Date Explanation
Post.
Ref. Debit Credit Balance
5 Sports
merchandise
2180 2420
14 Purchase of sport
merchandise
6100 6765
23 Purchase of sport
merchandise
11375 12600
Name: Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
Name: Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
27

ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: wages Acct Code: 0001
Date Explanation
Post.
Ref. Debit Credit Balance
30 11 wages 400
Accounts payable 400
Name: Testra Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
1 11 Telephone line &
calls
236.50 236.50
Name: herring wholesalers
Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
5 11 Sales of sports
merchandise
1680 1848
29 Sales of sports
merchandise
1880 2068
28

29

ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: Allsports Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
13 Sales of sports
merchandise
475 522
Name: Willow Equipment Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
14 11 Sales of sports
merchandise
8555 9410.50
Name: Slogger Pty Ltd Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
21 11 Sales of sports
merchandise
7200 7920
26 Adjustment note 25 27.25
30

31

GENERAL LEDGER
Name: Acc No:
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
SCHEDULES OF SUBSIDIARY LEDGERS
Schedule of Accounts Receivable
as at 30November 2017
Acc. Code Account Amount
Schedule of Accounts Payable
as at 30 November 2017
Acc. Code Account Amount
Schedule of Inventory on Hand
as at 30 November 2017
32

Acc. Code Account Amount
33

BANK RECONCILIATON STATEMENT
as at 30 November 2017
Balance as per bank statement $
Add
Less
Balance as per Cheque Account(100)
34

35

WORKSHEET
Worksheet for period ended 30 November 2017
Acc.No Account Trial Balance Adjustments
Adjusted Trial
Balance
Income
Statement Balance Sheet
100 Cheque Account – Bendigo
Bank
$26 376.30
105 Petty Cash 100.00 115
110 Accounts Receivable 9 337.50 28635
120 Merchandise Inventory 12 200.00 12200
130 Prepaid Insurance 3 728.00 3262
140 Prepaid Rates & Taxes 4 400.00 3850
150 GST Paid (outlays) 921.20 2255.
65
160 Buildings & Improvement
(cost)
980 000.00 98000
0
161 Accumulated Depreciated -
Bldgs& Imp
$58 800.00 60433
170 Motor Vehicles ( Cost) 18 800 .00 18800
171 Accumulated Depreciation
– Motor Vehicles
5 640.00 5953
180 Store Equipment ( Cost) 26 100 .00 26100
181 Accumulated Depreciation
– Store Equip
11 700.00 12021
36

200 Accounts Payable 11 454.00 21547
210 GST Collected 1750.70 254
220 PAYG Withholding Payable 320.00 320
230 Superannuation Payable 144.00 288
240 Wages & Salaries 200.00 600
280 Bank Loan 620 000.00 62000
0
310 Share Capital 360,000.00 36000
0
315 Dividends paid 17 000.00 17000
320 Retained Earnings 30,404.00 30404
400 Sales 69 020.00 10020
0
420 Discounts Received 392.30 392.3
0
430 Freight Collected 175.00
500 Cost of Sales 31 160.00 31160
520 Freight Expense 324.00
Adjustments
Income
Statement Balance Sheet
600 Advertising 480.00 480
610 Bank Charges 42.40 11.20
615 Cleaning 850.00 1070
620 Depreciation 9 086.00 11353
37

625 Electricity 380.50 350
630 Insurance 1864.00 1398
635 Interest Expense 15 750.00 19593
.75
640 Motor Vehicle Expenses 816.00 816
650 Postage &stationery 102.00 157
655 Rates 2 200.00 2200
660 Repairs & Maintenance 75.00 75
670 Staff Amenities 68.60 68.60
675 Superannuation 612.00 756
680 Telephone [phone]
685 Wages & Salaries 6 800.00 7200
$1 170
000.00
$1 170 000.00
38

39

40