Accounting Working Papers: Chart of Accounts and Journals

This accounting assignment presents a comprehensive set of working papers, including a detailed chart of accounts categorized by asset, liability, equity, income, and expense elements. The provided general journal includes various transactions dated throughout November 2017, detailing debits and credits for transactions such as cash sales, purchases, payments, and adjustments. The sales journal captures sales transactions, including invoice numbers, customer details, and breakdowns of sales, GST, cost of sales, and inventory adjustments. The assignment requires the student to analyze these documents to understand the flow of financial information and the impact of different transactions on the accounting equation. The documents are designed to help students understand the practical application of accounting principles.

ACCOUNTING WORKING PAPERS AND REPORT TEMPLATES
CHART OF ACCOUNTS
Acco
unt
No.
Account Name Element
(Income and
expenses)
Element
(Asset, etc)
Current/
non-
current
100 Cheques accounts asset current
105 Petty cash asset current
110 Accounts receivable asset current
120 Merchandise inventory asset current
130 Prepaid insurance asset current
140 Prepaid rates and taxes asset current
150 GST paid expenses
160 Building and improvements asset non-current
161 Accumulated depreciation
(building&imp)
liabilities non-current
170 Motor vehicles asset non-current
171 Accumulated Depreciation (motor
vehicles)
liabilities non-current
180 store equipments asset non-current
181 Accumulated Depreciation (Store
equip.)
liabilities non-current
200 Accounts payable liabilities current
210 GST collected liabilities current
220 PAYG withholding payable liabilities current
230 Superannuation payable liabilities current
240 Wages and salaries liabilities current
280 Bank loan liabilities non-current
310 Share capital liabilities non-current
315 Dividends paid expense
320 Retained earnings liabilities non-current
400 sales income
420 Discounts received income
430 Freight collected income
500 Cost of sales expense
520 Freight expenses expenses
600 advertising expenses
610 Bank charges expenses
615 cleaning expenses
620 depreciation expense
625 electricity expenses
630 insurance expenses
CHART OF ACCOUNTS
1

Acco
unt
No.
Account Name Element
(Income and
expenses)
Element
(Asset, etc)
Current/
non-
current
635 Interest expense expenses
640 Motor vehicle expenses expenses
650 Postage &stationery expenses
655 rates expenses
660 Repair and maintenance expenses
670 Staff amenities expenses
675 superannuation expenses
680 telephone expenses
690 Wages and salaries expenses
2

GENERAL JOURNAL
Date Description Post Ref Debit Credit
02/11
/17
Cash A/C DR.
TO SALES
5202 242 242
01/11
/17
TELEPHONE A/C DR.
TO Bank
214492 236 5
0
236 5
0
05/11
/17
PURCHASE A/C DR
TO Herrin Wholesalers
11981 1848 1848
05/11
/17
Albert Park Primary School a/c
dr.
To sales
5203 2420 2420
07/11
/17
Bank a/c dr.
To Melbourne high school
3187 3187
08/11
/17
Docklands Sporting Club a/c dr
To sales
5204 990 990
08/11
/17
Bad debts A/c Dr.
To Dockland Sporting Club
990 990
08/11
/17
Cash a/c dr.
To sale of store equipments
6491 6491
08/11
/17
Bank a/c dr.
To Austin Auctions
495 495
09/11
/17
Wages a/c dr.
To bank
640 640
09/11
/17
Slogger pty ltd a/c dr
To bank
9266 4000 4000
09/11
/17
Refreshment a/c dr.
To cash
15 15
10/11
/17
Herrin Wholesalers a/c dr.
To bank
11972 1609 3 1609 3
10/11
/17
Rose white a/c dr
To Bank
1000 1000
12/11
/17
Melbourn High School a/c dr.
To sales
5205 4345 4345
13/11
/17
Purchase a/c dr.
To All sports
35972 522 5 522 5
14/11
/17
Albert park sports club a/c dr.
To sales
5206 6765 6765
14/11
/17
Purchase A/c dr
To Willow Equipments
7396 9410 5 9410 5
14/11
/17
Herrin Wholesaler a/c dr.
To bank
11981 1755 6 1755 6
16/11
/17
Southern Gazette A/c dr.
To Bank
440 440
16/11
/17
ADVERTISING A/C DR.
To Southern Gazette a/c
798 440 440
16/11 Bank a/c dr. 5160 5 5160 5
3

/17 To Yarra City Council
17/11
/17
Cash a/c Dr.
To sales
5207 957 957
19/11
/17
Australian Super A/c Dr.
To bank a/c
144 144
19/11
/17
Docklands Little League a/c Dr.
To Bank a/c
1500 1500
19/11
/17
Bank A/c dr.
To Melbourn high school
5215 1 5215 1
21/11
/17
Purchase a/c dr.
To Slogger Pty Ltd a/c
9496 7920 7920
22/11
/17
Electricity a/c dr.
To Bank
127982 194 1
5
194 1
5
22/11
/17
Willow Equipment A/c Dr.
To bank
7396 9222 2
9
9222 2
9
23/11
/17
Ruby stone A/c Dr.
To Bank
640 640
Date Description Post Ref Debit Credit
23/11
/17
Albert park sports club A/c Dr.
To, sales A/c
5208 12600.5 12600.5
24/11
/17
Bank A/c Dr.
To, sales
5209 1259.5 1259.5
24/11
/17
Postage & stationery a/c dr.
To, petty cash
1 60 60
26/11
/17
Cash A/c Dr.
to, sales A/c
5210 341 341
26/11
/17
Purchase A/c Dr.
To, Sloggery Pty Ltd.
9502 27 5 27 5
26/11
/17
Bank A/c dr.
to, Albert park sports club a/c
5341 5341
27/11
/17
Sloggery Pty A/c Dr.
to, Bank A/c
2229 3175 3175
28/11
/17
dividend A/c Dr.
to, Bank A/c
2230 1072 6
5
1072 6
5
27/11
/17
Yarra city council A/c Dr.
to, Sales A/c
5211 1958 1958
29/11
/17
Purchase A/c Dr.
to, Herrin Wholesalers A/c
12002 2068 2068
30/11
/17
Quick cleaners A/c Dr.
to, Bank A/c
2231 220 220
30/11
/17
Fuel A/c Dr.
to, petty cash
2 55 55
30/11
/17
Cleaning A/c Dr.
To, quick cleaners A/c
127982 220 220
30/11 Albert Park A/c Dr. 5212 2662 2662
4

/17 to, Sales A/c
30/11
/17
Wages a/c dr.
to, outstanding wages
400 400
30/11
/17
Prepaid insurance A/c Dr.
to insurance a/c
3262 3262
30/11
/17
Prepaid rates and taxes a/c dr.
to, rates and taxes a/c
3850 3850
30/11
/17
Superannuation A/c Dr.
to O/S superannuation A/c
144 144
30/11
/17
Depreciation A/c Dr.
to Building & improvements
A/c
to, motor vehicles A/c
to, shop equipments A/c
2267 1633
313
321
30/11
/17
Interest A/c Dr.
to bank A/c
3843 7
5
3843 7
5
30/11
/17
Petty cash a/c dr.
to petty cashier a/c
15 15
SALES JOURNAL
Date Inv
No
Account Terms Sales GST
Collected
Cost of Sales DrAccounts
Inventory Cr
Receivable
05/
11/
17
52
03
Albert Park
Primary
School
N30 2180 220 2420
08/
11/
17
52
04
Docklands
Sporting Club
900 90 990
12/
11/
17
52
05
Melbourne
High School
2/10;N
30
3900 395 4345
14/
11/
17
52
06
Albert Park
Sports Club
N30 6100 615 6765
23/
11/
17
52
08
Albert Park
Sports Club
N30 11375 1145.5 12600 5
27/
11/
17
52
11
Yarra City
Council A/C
N30 1 780 178 1 958
30/
11/
17
52
12
Albert Park
Primary
School
N30 2 400 242 2 662
TOTAL
28635
2885.5 31740.5
5

PURCHASES JOURNAL
Date Inv.
No
Account Terms Inventory GST
(Paid)
(Outlays)
Freight
Paid
Accounts
Payable
05
/1
1/
17
11981 Herrin
Wholesalers
A/c
5/10
,N/
30
Blaze SoccerBall
Gifford Netball
Herrin Football
Jordan
Basketball
25
20
75
40
8
80 250
200
750
400
1
8
4
8
13
/1
1/
17
35972 Allsports a/c Net
7
Slammer
Backboard
Netball Stand
26
21
5 265
210
5
2
2
.
5
14
/1
1/
17
7396 Willow
equipments
A/c
2/10
,
N/3
0
Armour Cricket
Pads
Blaster Cricket
Bat
Marsh Cricket
Ball
222
498
125
10
5 100 2 225
4 980
1 250
9
4
1
0
.
5
21
/1
1/
17
9496 Slogger Pty
Ltd
N/
30
Slogger Golf Set
Diablo Golf Balls
(box)
GripBite Golf
Gloves
Golf Putting Mat
500
150
25
30
15
150 5 000
1 500
250
300
7
9
2
0
26
/1
1/
17
9502 Slogger Pty
Ltd
N/
30
GripBite Golf
Gloves
2 5 25 2
7
.
5
29
/1
1/
17
12002 Herrin
Wholesalers
A/c
5/10
,N/
30
Gifford Netball
Jordan Basketball
60
120
8
80 600
1 200
2
0
6
8
TOTAL 198
1
8 410 19405
6

CASH PAYMENTS JOURNAL
Date Accou
nt
P
os
t
R
ef
Ch
q
No
Debits Credits
Accou
nts
Payabl
e
Cash at
Bank
Discoun
t
Receive
d
GST Paid
(Outlays)
09/
11/
17
Refres
hment
a/c dr.
To
cash
15 0 4
5
TOTA
L
15
7

CASH RECEIPTS JOURNAL
Dat
e
Accounts
Po
st
Re
f
Debit
s
Credits
Cash at
Bank
Cost of
Sales Sales
Accounts
Receivable
Other GST
Collected
02
/1
1/
17
sales 220 242 22
08
/1
1/
17
sale of
store
equipme
nts
186
0
320 6491 4951
17
/1
1/
17
Sales 5
2
0
7
870 957 87
24
/1
1/
17
Sales 5
2
0
9
114
5
1259 114.5
26
/1
1/
17
sales 5
2
1
0
310 341 31
TOTAL 440
5
9290 5205.5
8

INVENTORY SUBSIDIARY LEDGER
Name: Armour Cricket Pads Acct Code: ACP
Date Explanation Purchases Cost of Sales Balance
Uni
ts
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
02
/1
1/
17
Cash a/c 1 $90.
00
90 1 90 $90.00
12
/1
1/
17
Melbourne
High School
12 90 1
080
12 90 1080
14
/1
1/
17
Willow
Equipment
5 44.5 2
225
5 44.5 2 225
26
/1
1/
17
Cash a/c 1 90 90 1 90 90
30
/1
1/
17
Albert Park
Primary
School
10 90 900 10 90 900
Total 19 315.
5
1937.5
Name: Blaster Cricket Bat Acct Code:
BCB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
02
/1
1/
17
Cash a/c 1 100 100 1 100 100
12
/1
1/
17
Melbourne
High School
12 100 1200 12 100 1200
14
/1
Willow
Equipment
80 62.2
5
4980 80 62.2
5
4980
9

1/
17
26
/1
1/
17
Cash a/c 2 100 200 2 100 200
30
/1
1/
17
Albert Park
Primary
School
10 100 1000 10 100 1000
TOTAL 55 337.
75
2480
Name: Blaze Soccer Ball Acct Code:
BSB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Units Cost Total
05
/1
1/
17
Herrin
Wholesalers
10 25 250 10 25 250
17
/1
1/
17
Cash a/c 2 50 100 2 50 100
TOTAL 8 25 150
INVENTORY SUBSIDIARY LEDGER
Name: Diablo Golf Balls (Box of 12) Acct
Code: DGB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
14
/1
1/
17
Albert Park
Sports Club
20 30 600 20 30 600
21 Slogger Pty 100 15 1500 100 15 1500
10

/1
1/
17
Ltd
24
/1
1/
17
Cash a/c 1 30 30 1 30 30
TOTAL 79 45 870
Name: Gifford Netball Acct Code:
GNB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
05
/1
1/
17
Herrin
Wholesalers
10 20 200 10 20 200
05
/1
1/
17
Albert Park
Primary
School
6 40 240 6 40 240
12
/1
1/
17
Melbourne
High School
10 40 400 10 40 400
27
/1
1/
17
Yarra City
Council
6 40 240 6 40 240
29
/1
1/
17
Herrin
Wholesalers
30 20 600 30 20 600
TOTAL 18 80
Name: Herrin Football Acct Code:
HFB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Units Cost Total
11

05
/1
1/
17
Herrin
Wholesalers
10 75 750 10 75 750
05
/1
1/
17
Albert Park
Primary
School
8 150 120
0
8 150 1200
17
/1
1/
17
Cash a/c 3 150 450 3 150 450
TOTAL 1 900
INVENTORY SUBSIDIARY LEDGER
Name: Jordan Basketball Acct Code: JBB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Units Cost Total
05
/1
1/
17
Herrin
Wholesalers
10 40 400 10 40 400
05
/1
1/
17
Albert Park
Primary
School
6 80 480 6 80 480
12
/1
1/
17
Melbourne
High School
10 80 800 10 80 800
27
/1
1/
17
Yarra City
Council
6 80 480 6 80 480
29
/1
1/
17
Herrin
Wholesalers
30 40 1200 30 40 1200
TOTAL 18 160
12