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Finance Case Study: Analysis of Donald's Juice Shop

   

Added on  2023-01-06

14 Pages2647 Words3 Views
FINANCE CASE STUDY

TABLE OF CONTENTS
FINANCE CASE STUDY...............................................................................................................1
a) Prepared worksheet for the year ended 30 June 2020.............................................................1
b) Prepared an income statement for the year ended 30 June 2020.............................................3
c) Prepare balance sheet for the year ended 30 June 2020..........................................................4
d) Make necessary adjusting entries ...........................................................................................5
e) Make the closing entries..........................................................................................................6
f) Make any necessary reversing entries......................................................................................6
g) Analysis and explanation of Donald's Juice shop....................................................................6
REFERENCES..............................................................................................................................12

FINANCE CASE STUDY
a) Prepared worksheet for the year ended 30 June 2020
Trial Balance for 30 June 2020
Unadjusted Trial Balance
Account Debit Credit
Cash at bank 48724
Accounts Receivables 205056
Inventory 291200
Prepaid Insurance 15744
Office Supplies in hand 8736
Furnitures & Fixtures 106080
Accumulated depr F&F 29120
Delivery Equipments 124800
Accumulated Depr Del.
Equipments 49920
Accounts Payable 72072
Loan Payable 312000
Capital Account (Donald) 132284
Drawings 75240
Sales 1922800
Sales Return & Allowances 26664
Discount Allowed 18200
Cost of Sales 1099488
Freight In 24960
Discount Received 22464
Sales Salaries expense 182208
Delivery Expense 48800
Advertising Expense 71760
Rent Expense 76400
Office salaries expense 90000
Electricity Expense 26600
Total 2540660 2540660
1

Worksheet showing adjustments made to trial balance
Worksheet
Account Trial Balance Adjustments
Adjusted Trial
Balance
Dr. Cr. Dr. Cr. Dr. Cr.
Prepaid Insurance 15744 2624 13120
Insurance 2624 2624
Office Supplies 8736 4648 4088
Sales Salaries expense 182208 6400 188608
Outstanding sales salaries 6400 6400
Office salaries expense 90000 1760 91760
Outstanding office salaries 1760 1760
Accumulated Depr F&F 29120 9640 38760
Accumulated Depr
Delivery equipments 49920 26460 76380
Depreciation expense 36100 36100
Adjusted Trial Balance
Adjusted Trial Balance
Account Debit Credit
Cash at bank 48724
Accounts Receivables 205056
Inventory 291200
Prepaid Insurance 13120
Office Supplies in hand 4088
Furnitures & Fixtures 106080
Accumulated depr F&F 38760
Delivery Equipments 124800
Accumulated Depr Del.
Equipments 76380
Accounts Payable 72072
Loan Payable 312000
2

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