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Organisational Policies and Procedures PDF

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Added on  2021-02-21

Organisational Policies and Procedures PDF

   Added on 2021-02-21

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include your totals in your journals, I have attached a file that should help you make corrections where needed, there has been a carry on effect from errors early in the assignmentAdd the bank interest/expense to the cash payments and cash receipts etc. and check calculationsAreas Marked need to be Looked over and correctedJolly Amusements commenced operations in January with a minigolf course and games parlour. The accounts manager (Jenny Chee) has kept a full set of journals which are shown below. You are required to:a)Check that all journals have been properly authorised in accordance with the Organisational Policies and Procedures. Add the name of the authoriser if not alreadyincluded. (Note: The Organisational Policies and Procedures require that journals be signed and dated by the accounts manager prior to being posted to the General ledger.)b)Reconcile the bank account and prepare a Bank Reconciliation Statement as at 31January 2018c)Total and balance the journals as required.d)Post the journals to the General Ledger accounts.e)Prepare the Trial balance as at 31 January 2018.f)Prepare the Income Statement for the period ended 31 January 2018 on the template provided. g) Preapare the Balance Sheet as at 31 January 2018 on the template provided. General Journal CorrectDebit21.01.18Motor vehicle10,500Equipment at cost700Capital 11,200(Owner introduced assetsinto the business)23.01.18Equipment at cost1,500GST paid150
Organisational Policies and Procedures PDF_1
Accounts payable(Purchased equipment on credit)31.01.18Accounts receivable10Late Fee Revenue(Late fee charged on GDT Pty Ltd account )Authorised:Jenny Chee31.01.18Sales Journal CorrectDate Invoice no.Sold to:Sales* GSTcollected Accountsreceivable 05.01.181214Solid Solutions Ltd1020.00102.001122.0009.01.181256Allens Accounting620.0062.00682.0010.01.181259Gumby Footy Club755.0075.50830.5011.01.18CN554Allens Accounting-40.00-4.00-44.0015.01.181285GDT Pty Ltd230.0023.00253.0024.01.181304S Smith154.0015.40169.4031.01.181324Goodfield SHS140.0014.00154.00Totals2892.00287.903166.90Authorised:Jenny Chee31.01.18* All credit sales include GST.Purchases Journal CorrectDate Invoice no.Bought from:PurchasesGST paidAccountspayable04.01.18100471CocaCola Ltd485.0048.50533.50
Organisational Policies and Procedures PDF_2
04.01.1856594Donaldsons Dairy124.000124.0005.02.182201Allens Confection260.0026.00286.0007.01.18567Allens Confection-20.00-2.00-22.0008.01.185546Clear Springs155.000155.0013.01.1856594Donaldsons Dairy146.005.50151.5015.01.18102484CocaCola Ltd845.0084.50929.5019.01.1844494CocaCola Ltd-42.00-4.20-46.2020.01.188997Gmart Golf62.006.2068.2030.01.1856657Donaldsons Dairy180.0018.00198.00Totals2195.00182.502377.50Authorised:Jenny Chee31.01.18
Organisational Policies and Procedures PDF_3
Cash Receipts Journal * Cash sales include GST Free sales and taxable sales. Areas Marked yellow need fixingDateRef no.ParticularsFolio/ accountGST CollectedSales*OtheraccountsAccountsreceivableDiscountAllowedBank06.01.18215Cash salesSales142.001510.001,652.0008.01.18216Cash salesSales135.001,410.501,545.5010.01.18217Cash salesSales5.0050.0012.01.18218Cash salesSales36.40387.20478.6013.01.18219Rent receivedRent110.001,100.001,210.0014.01.18220Solid SolutionsA/C Rec1122.001,122.0018.01.18221Cash salesSales62.50690.10752.6021.01.18222Gumby FootballClA/C Rec830.50830.5022.01.18223Cash salesSales40.00400.00440.0028.01.18224S SmithA/C Rec169.40169.429.01.18225Cash salesSales35.00380.00584.4030.01.18226Owner contributionCapital2,000.002,000.0031.01.18227Cash salesSales121.001,245.001,366.00From bank statement excluding contra entriesDeposits 7315.787315.78Totals686.96072.810415.782121.919521.78
Organisational Policies and Procedures PDF_4
tmpo_d6gzt0A92468_15650948601565100807537.docCash Payments Journal Areas Marked yellow need fixingDateRef no.ParticularsFolio/ AccountGST PaidPurchases OtheraccountsAccountspayableDiscountReceivedBank01.01.1845ColesPurchases35.60384.20419.8004.01.1846Ready RealtyRent paid100.001,000.001,100.0011.01.1847CocaCola LtdA/C Pay533.50533.5011.01.1848TelephoneTelephone32.40324.00356.4011.01.1849Donaldsons DairyA/C Pay124.00124.0013.01.1850Cash purchasesPurchases4.3043.0047.3013.01.1851WagesWages430.00430.0014.01.1852Clear SpringsVarious-0.50155.00-5.00149.5022.01.1853CocaCola LtdA/C Pay883.30883.3026.01.1854Gmart Golf - ClubsEquipment230.002,300.002,530.0027.01.1855WagesWages510.00510.0031.01.1856Donaldsons DairyA/C Pay198.00198.00From B/S excluding contra entries844.3844.3Totals401.81427.24408.31893.88126.1
Organisational Policies and Procedures PDF_5
The BankStatement forJanuary 2018JollyAmusements2018WithdrawalsDepositsBalance1 JanOpening balance25,154.68 Cr4 Jan Deposit1,256.0026,410.68 Cr4 JanWithdrawal - Chq 000043176.0026,234.68 Cr5 JanWithdrawal – Chq 000045419.8025,814.88 Cr7 JanDeposit1,652.0027,466.88 Cr9 JanDeposit1,545.5029,012.38 Cr12 JanWithdrawal – Chq 000047533.5028,478.88 Cr12 JanWithdrawal – Chq 0000461,100.0027,378.88 Cr12 JanDeposit478.6027,857.48 Cr12 JanWithdrawal – Chq 000048356.4027,501.08 Cr13 JanWithdrawal – Chq 000049124.0027,377.08 Cr13 JanDeposit1210.0028,587.08 Cr15 JanWithdrawal – Chq 000051430.0028,157.08 Cr15 JanDeposit1122.0029,279.08 Cr17 JanWithdrawal – Chq 000052149.5029,129.58 Cr18 JanDirect debit Loan – The Bank230.0028,899.58 Cr21 JanDeposit752.6029,652.18 Cr
Organisational Policies and Procedures PDF_6

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