Manual Accounting Practice Set - Technology Boutique, Australasian Edition 3

This page contains information about the Manual Accounting Practice Set for Technology Boutique, Australasian Edition 3. It includes a post-closing trial balance, schedule of accounts receivable and payable, inventory cards, bank reconciliation statement, and bank statement for June. The page also provides a link to access solved assignments, essays, dissertations, and more related to this practice set on Desklib.

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Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3
Further information
Intermaweb Computer Post-closing trial balance As at 31/05/2018
Account No. Name Debit
($) Credit
($)
100 Cash at Bank 96,668
102 Short-term Investments 25,000
110 ARC - Accounts Receivable Control 64,441
112 Interest Receivable
120 Inventory 180,070
130 Office Supplies 2,144
135 GST Outlays 11,147
140 Prepaid Rent 1,200
141 Prepaid Advertising 6,000
142 Prepaid Insurance 3,250
150 Cash Registers 7,000
151 Accum Depn: Cash Registers 1,757
160 Store Fixtures 39,000
161 Accum Depn: Store Fixtures 11,420
210 APC - Accounts Payable Control 77,809
220 Wages Payable 6,500
221 Electricity Payable 1,225
222 Water Payable 110
225 Interest Payable 220
240 GST Collections 19,577
250 Bank Loan Payable 44,000
300 Share Capital 50,000
301 Retained Earnings 223,302
310 Profit and Loss Summary
400 Sales Revenue
401 Sales Returns and Allowances
402 Discount Received
403 Interest Revenue
500 Cost of Sales
511 Advertising Expense
516 Wages Expense
540 Rent Expense
541 Electricity Expense
542 Water Expense
543 Insurance Expense
544 Office Supplies Expense
545 Salary Expense
560 Depn Expense: Cash Registers
561 Depn Expense: Store Fixtures
571 Interest Expense
572 Bank Charges
573 Discount Allowed
Total 435,920 435,920
Schedule of accounts receivable ~ May

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Intermaweb Computer
Schedule of Accounts Receivable
As at 31/05/2018
Account No. Name Debit
($)
Credit
($)
110-1 ARC - Radio Hut 5,060
110-2 ARC - Turbo Tech 7,621
110-3 ARC - Hypertronics 43,013
110-4 ARC - Pikea 8,747
110-5 ARC - Handys Electronics
110-6 ARC - Jerry Technology
Total 64,441
Please note: Intermaweb Computer does not generally give a discount for early payment except in exceptional
circumstances. All debtors are on net 30 credit terms.
Schedule of accounts payable ~ May
Intermaweb Computer
Schedule of Accounts Payable
As at 31/05/2018
Account No. Name Debit
($)
Credit
($) Terms
210-1 APC - Big Telco 5,184 2/10, n/30
210-2 APC - Pear Technology 9,900 1/15, n/30
210-3 APC - Moon Megasystems 41,575 net 30
210-4 APC - Mega Tech 11,550 2/10, n/30
210-5 APC - Pony 9,600 net 30
210-6 APC - JCN Electrical net 30
Total 77,809
Inventory cards ~ May
Swish Phones
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 1 28 420 11760
May 7 24 480 11520 28 420 11760
24 480 11520
May 25 5 420 2100 23 420 9660

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24 480 11520
May 31 10 420 4200 13 420 5460
24 480 11520
DK800 Desktop Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 1 25 1040 26000
21 1300 27300
May 9 4 1040 4160 21 1040 21840
21 1300 27300
May 22 6 1040 6240 15 1040 15600
21 1300 27300
May 31 17 1300 22100 15 1040 15600
38 1300 49400

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Tony ZIO MLP Projectors
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 1 28 400 11200
22 500 11000
May 6 18 500 9000 28 400 11200
40 500 20000
May 23 28 400 11200 36 500 18000
4 500 2000
May 31 15 500 7500 51 500 25500
Zii Game Consoles
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 1 26 820 21320
May 11 3 820 2460 23 820 18860
May 28 2 820 1640 21 820 17220
May 31 20 900 18000 21 820 17220
20 900 18000

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MX620 Notebook Computers
Date
Purchases Cost of Sales Balance
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
Units Unit Cost
($)
Total Cost
($)
May 1 24 840 20160
29 1010 29290
May 4 24 840 20160 22 1010 22220
7 1010 7070
May 20 15 1010 15150 37 1010 37370
Bank reconciliation statement ~ May
Intermaweb Computer
Bank Reconciliation Statement
As at 31/05/2018
Balance as per bank statement: 84,904 CR
Add:
deposit in transit from Pikea 13,304
deposit in transit from Radio Hut 6,240 19,544
104,448 CR
Less:
unpresented cheque No. 770 6,200
unpresented cheque No. 771 1,580 7,780
Adjusted bank balance 96,668 CR
Balance as per ledger account 96,668 DR
Bank statement ~ June
Melbourne branch
Adriano Bragg
557 Mockridge Boulevard
Melbourne, VIC 3000
Account No.
9489861
Page No.
1
Intermaweb Computer
Date Particulars Debit Credit Balance
1 JUN BALANCE BROUGHT FORWARD $84,904 CR
2 JUN 770 $6,200 $78,704 CR

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2 JUN 771 $1,580 $77,124 CR
4 JUN DEPOSIT - Radio Hut $6,240 $83,364 CR
5 JUN DEPOSIT - Pikea $13,304 $96,668 CR
6 JUN 772 $42,900 $53,768 CR
7 JUN 773 $12,708 $41,060 CR
9 JUN DEPOSIT - Cash sales $37,950 $79,010 CR
11 JUN 774 $11,319 $67,691 CR
11 JUN 777 $1,287 $66,404 CR
12 JUN 775 $9,801 $56,603 CR
12 JUN 778 $13,084 $43,519 CR
15 JUN 776 $9,600 $33,919 CR
15 JUN DEPOSIT - Cash sales $3,784 $37,703 CR
17 JUN 779 $2,640 $35,063 CR
19 JUN 780 $13,282 $21,781 CR
20 JUN DEPOSIT - Radio Hut $4,554 $26,335 CR
22 JUN DEPOSIT - Jerry Technology $27,000 $53,335 CR
24 JUN CHEQUE RETURNED - Jerry Technology $27,000 $26,335 CR
24 JUN DEPOSIT - Cash sales $99,176 $125,511 CR
26 JUN 781 $50,870 $74,641 CR
27 JUN DEPOSIT - Cash sales $53,460 $128,101 CR
27 JUN 782 $12,560 $115,541 CR
30 JUN 784 $17,424 $98,117 CR
30 JUN 785 $6,600 $91,517 CR
30 JUN TRANSACTION FEE $11 $91,506 CR
30 JUN INTEREST $826 $92,332 CR
Last statement to
31/05/2018
This statement to
30/06/2018
Total debits
$238,866
Total credits
$246,294
Final balance
$92,332 CR
Proceeds of cheques will not be available until cleared.
All entries for the last business day are subject to verification and authorisation.
Any items not paid, or withdrawn, will be adjusted by reversal entry on a later statement.
Manual Accounting Practice Set
Technology Boutique, Australasian Edition 3 (VTA3q)
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