Journal Entries and T-Accounts for Borderline Ltd

Assignment

Table of Contents
PArt A..............................................................................................................................................3
Journal entries..............................................................................................................................3
T-Accounts..................................................................................................................................6
Closing Trial Balance................................................................................................................10
Revenue Account.......................................................................................................................11
Balance sheet.............................................................................................................................12
Bank Reconcilation statement...................................................................................................13
Part C.............................................................................................................................................14
What environmental concerns may need to be addressed?.......................................................14
How these concerns might be addressed?.................................................................................14
What might be the financial impact of these decisions?............................................................14
Why you believe it is important to address these concerns?.....................................................15
Reference.......................................................................................................................................16

PART A
Journal entries
Table 1 Journal of Borderline Ltd for June 2018
Date Particulars Debit Credit
6/1/2018 Bank Dr. $ 1,200.00
Discount Allowed Dr. $ 100.00
To Roar Ltd $ 1,300.00
(Being Cheque Received from Roar Ltd.
in full settlement)
6/3/2018 Jones Ltd Dr. $ 825.00
To Sales $ 825.00
(Goods sold to Jones Ltd on credit
terms)
6/4/2018 Rent Dr. $ 1,500.00
To Bank $ 1,500.00
(Being Rent paid for the month of June)
6/5/2018 Purchase Dr. $ 1,397.00
To Pink Ltd $ 1,397.00
(Being goods purchased from Pink Ltd.)
6/6/2018 Yard Ltd Dr. $ 4,550.00
To Bank $ 4,500.00
To Discount Received $ 50.00
(Being amount paid to Yard Ltd in Full
Settlement)
6/8/2018 Bank Dr. $ 1,900.00
To Wide Ltd $ 1,900.00

(Being amount received from Wide Ltd)
6/11/2018 Pink Ltd Dr. $ 1,397.00
To Bank $ 1,369.06
To Discount Received $ 27.94
(Being amount paid to Pink Ltd )
6/12/2018 Telephone Expenses Dr. $ 320.00
To Bank $ 320.00
(Being telephone expense paid)
6/13/2018 Bank Dr. $ 700.00
To Jones Ltd $ 700.00
(Being amount received from Jones
Ltd.)
6/14/2018 Bank Dr. $ 20,900.00
To Cash $ 20,900.00
(Being Cash deposited in Bank)
6/14/2018 Cash Dr. $ 5,200.00
To Bank $ 5,200.00
(Being cash withdrew from Bank)
6/14/2018 Wages Dr. $ 7,400.00
To GST Paid $ 2,200.00
To Cash $ 5,200.00
(Being amount paid as Wages in Cash)
6/17/2018 Stationery Expenses Dr. $ 220.00
To Bank $ 220.00
(Being Amount paid for Stationery)
6/18/2018 Zane Limited Dr. $ 2,750.00
To Sales $ 2,750.00
(Being Goods sold to Zane Ltd.)
6/21/2018 Wide Ltd. $ 715.00
To Sales $ 715.00