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

Name: Marsh Cricket ball Acct Code:
MCB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Total Unit
s
Cost Total
02
/1
1/
17
Cash sales 3 10 30 3 10 30
12
/1
1/
17
Sold to
Melbourne
high school
24 10 240 24 10 240
14
/1
1/
17
Sold to sports
depot
250 5 1250 250 5 1250
26
/1
1/
17
Cash sales 2 10 20 2 10 20
30
/1
1/
17
Sold to
Albert park
50 10 500 50 10 500
TOTAL 329 2040
Name: Netball Stand Acct
Code: NBS
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
12
/1
1/
17
Sold to
melbourne
high school
2 90 180 2 90 180
13
/1
1/
17
Purchased
from all
sports
6 35 210 6 35 210
27
/1
1/
17
Sold to yarra
city council
6 90 540 6 90 540
TOTAL 14 930
13

INVENTORY SUBSIDIARY LEDGER
Name: Slammer Blackboard Acct
Code: SBB
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
Sold to
Albert park
2 130 260 2 130 260
13
/1
1/
17
Purchased
from all
sports
5 53 265 5 53 265
27
/1
1/
17
Sold to yarra
city council
4 130 520 4 130 520
TOTAL 11 1045
Name: Strike Football Boots Acct
Code: SFB
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Units Cost Total
17
/1
1/
17
Cash sales 2 160 320 2 160 320
TOTAL 2 320
14

Name: Slogger Golf Set Acct Code:
SGS
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
Sold to
Albert park
5 1100 5500 5 1100 5500
21
/1
1/
17
Purchased by
slogger pty
ltd.
10 500 5000 10 500 5000
23
/1
1/
17
Sold to
Albert park
10 1100 1100
0
10 1100 11000
24
/1
1/
17
Cash sales 1 1100 1100 1 1100 1100
TOTAL 6 12600
INVENTORY SUBSIDIARY LEDGER
Name: GripBite Golf Gloves Acct
Code: GBG
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
21
/1
1/
17
Purchased by
slogger pty
ltd.
50 5 250 50 5 250
23
/1
1/
17
Sold to
Albert park
15 15 225 15 15 225
24
/1
1/
17
Cash sales 1 15 15 1 15 15
26
/1
1/
Purchased by
slogger pty
ltd.
5 5 25 5 5 25
15

17
TOTAL 39 35
Name: Golf Putting Mat Acct
Code: GPM
Date Explanation Purchases Cost of Sales Balance
Unit
s
Cost Tota
l
Unit
s
Cost Tota
l
Unit
s
Cost Total
21
/1
1/
17
Purchased by
slogger pty
ltd.
10 30 300 10 30 300
23
/1
1/
17
Sold to
Albert park
3 50 150 3 50 150
TOTAL 7 150
16

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Albert Park Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
05/1
1/17
sales 5203 2420 2420
14/1
1/17
sales 5206 6765 6765
23/1
1/17
sales 5208 12600 12600
26/1
1/17
receipt 5341 5341
30/1
1/17
sales 5212 2662 2662
TOTAL 19106
Name: Docklands Sporting Club
Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
08/11
/17
sales 5204 990 990
08/11
/17
Bad debts 990 990
TOTAL 0
Name: Melbourne High School Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
12/11
/17
sales 5205 4345 4345
19/11
/17
receipt 5215 5215
TOTAL -870
17

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Name: Yarra City Council Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
27/1
1/17
sales 5211 1958
15/1
1/17
receipt 5160.5 5160.5
TOTAL 3202.5
Name: Austins Auctions Acct Code:
Date Explanation
Post.
Ref. Debit Credit B
a
l
a
n
c
e
08/1
1/17
reciept 495 495
TOTAL 495 495
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: Herrin Wholesalers Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
05/1
1/17
Purchase 1680 1680
10/1
1/17
bank 1609 1609
14/1
1/17
bank 1755.6 1755.6
29/1
1/17
purchase 2068 2068
TOTAL 383.4
18

Name: Telstra Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
01/11
/17
telephone bill 236.5 236.5
02/11
/17
bank 236.5 236.5
TOTAL 0
Name: AllSports
Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
13/11
/17
purchase 522.5
TOTAL 522.5
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Name: Willow Equipment Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
14/1
1/17
Purchase 9410.5
22/1
1/17
bank 9222.29
TOTAL 188.21
Name: Southern Gazette Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
15/11 Advertising 440
19

/17
16/11
/17
bank 440
TOTAL 0
Name: Slogger Pty Ltd
Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
09/11
/17
bank 4000
21/11
/17
Purchase 7 920
26/11
/17
purchase 27.5
27/11
/17
bank 3175
TOTAL 772.5
Name: Dandenong Power Acct
Code:
Date Explanation
Post.
Ref. Debit Credit Balance
21/11
/17
electricity $194.15
22/11
/17
bank 194.15
TOTAL 0
Name: Quick Cleaners Acct Code:
Date Explanation
Post.
Ref. Debit Credit Balance
30/11
/17
bank 220
30/11
/17
Cleaning 220
20

TOTAL 0
GENERAL LEDGER
Name: bad debts a/c
Acc No:
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
08/1
1/17
To
docklands
sporting
club
990 By bal c/d 990
total 990 total 990
Name: purchase a/c
Acc No:
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
05/1
1/17
To accounts
payables
21796 5 By bal c/d 21796 5
total 21796 5 total 21796 5
Name: Bank A/c Acc No: 100
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 26376 3 02/1
1/17
By telephone
a/c
236
07/1
1/17
To
melbourne
high school
3187 09/1
1/17
By wages a/c 640
08/1
1/17
To austin
auctions
495 09/1
1/17
By sloggery
pty ltd.
4000
16/1
1/17
To yarra city 5160 10/1
1/17
By herrin
wholesalers
1609
19/1
1/17
To
melbourne
high school
5215 10/1
1/17
By rose
white a/c
1000
26/1 To albert 5341 14/1 By bank 1755
21

1/17 park 1/17
To cash
payable
15 16/1
1/17
By southern
gazette
440
19/1
1/17
By
Australian
super a/c
144
19/1
1/17
By
docklands
a/c
1500
22/1
1/17
By
electricity
194
22/1
1/17
By willow
equipment
9222
23/1
1/17
By ruby
stone
640
27/1
1/17
By sloggery
a/c
3175
28/1
1/17
By dividend 1072 5
30/1
1/17
By quick
cleaners a/c
220
30/1
1/17
By interest
a/c
3843
By cash
received
9290
By bal c/d 8680
total 45789 total 45789
GENERAL LEDGER
Name: Petty Cash
Acc No: 105
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal. B/d 100 24/1
1/17
By postage
stamp and
stationery
1 60
30/1
1/17
To petty
cashier a/c
15 30/1
1/17
By fuel 2 55
total 115 total 115
22

Name: Prepaid Insurance
Acc No: 130
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 3 728 By insurance 466
30/1
1/17
By bal c/d 3262
total 3728 total 3728
Name: Prepaid Rates & Taxes
Acc No: 140
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 4400 30/1
1/17
By rates and
taxes
550
30/1
1/17
By bal c/d 3850
total 4400 total 4400
GENERAL LEDGER
Name: Insurance
Acc No: 630
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 1864 By bal c/d 2330
30/1
1/17
To prepaid
insurance
466
total 2330 total 2330
Name: Rates & Taxes
Acc No: 655
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1 To bal b/d 2200 By bal c/d 2750
23

1/17
30/1
1/17
To prepaid
rates and
taxes
550
total 2750 total 2750
Name: GST Paid
Acc No: 150
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 921.2
30/1
1/17
To GST
paid on
purchases
1981.8 30/1
1/17
By bal c/d 2903
total 2903 total 2903
GENERAL LEDGER
Name: GST recieved
Acc No: 210
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
30/1
1/17
To bal c/d 4636.2 01/1
1/17
By bal b/d 1750.7
30/1
1/17
By sales 2885.5
total 4636.2 total 4636.2
Name: Buildings & Improvement
Acc No: 160
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 980000 30/1
1/17
By
depreciation
1633
By bal cd 979367
total 980000 total 980000
24

Name: Motor Vehicles
Acc No: 170
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 18800 30/1
1/17
By
depreciation
313
By bal c/d 18487
total 18800 total 18800
GENERAL LEDGER
Name: Store Equipment
Acc No: 180
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 26100 30/1
1/17
By
depreciation
321
By bal c/d 25779
total 26100 total 26100
Name: Superannuation Payable
Acc No: 230
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
30/1
1/17
To bal c/d 144 01/1
1/17
By bal b/d 144
total 144 total 144
Name: O/S Wages & Salaries
Acc No: 240
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
30/1
1/17
To bal c/d 400 01/1
1/17
By bal b/d 200
By wages
and salary
200
25

total 400 total 400
GENERAL LEDGER
Name: Bank Loan
Acc No: 280
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 620000 01/1
1/17
By bal b/d 620000
total 620000 total 620000
Name: PAYG Withholding Payable
Acc No: 220
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 320 01/1
1/17
By bal b/d 320
total 320 total 320
Name: Share Capital
Acc No: 310
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 360000 01/1
1/17
By bal b/d 360000
total 360000 total 360000
GENERAL LEDGER
Name: Dividends paid
Acc No: 315
26

Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 17000 By bal c/d 18072 6
5
28/1
1/17
To bank a/c 1072 6
5
total 18072 6
5
total 18072 6
5
Name: Retained Earnings
Acc No: 320
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 30404 01/1
1/17
By bal b/d 30404
total 30404 total 30404
Name: Sales Acc No: 400
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
By bal b/d 69020
30/1
1/17
By accounts
recievables
31740 5
To bal c/d 101002 5 02/1
1/17
By cash 242
total 101002 5 total 10100
2
5
GENERAL LEDGER
Name: Freight Collected
Acc No: 430
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
By bal b/d 175
395 By accounts
receivable
220
27

total 395 total 395
Name: Cost of Sales
Acc No: 500
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 31160 By bal c/d 31160
total 31160 total 31160
Name: Freight Expense
Acc No: 520
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 324
To accounts
payables
410 By bal c/d 734
total 734 total 734
GENERAL LEDGER
Name: Advertising
Acc No: 600
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 480 By bal c/d 920
16/1
1/17
To southern
gazette
440
total 920 total 920
28

Name: Bank Charges
Acc No: 610
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 42 4 42 4
total 42 4 total 42 4
Name: Cleaning Acc No: 615
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 850 By bal c/d 1070
30/1
1/17
To quick
cleaners a/c
220
total 1070 total 1070
GENERAL LEDGER
Name: Depreciation
Acc No: 620
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 9 086 By bal c/d 11353
30/1
1/17
to building
&
improvemen
t a/c
1633
30/1
1/17
To motor
vehicle
313
30/1
1/17
To shop
equipments
321
total 11353 total 11353
Name: Electricity
Acc No: 625
29

Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 380 5
0
By bal c/d 574 5
0
22/1
1/17
To bank a/c 194
total 574 5
0
total 574 5
0
Name: Interest Expense
Acc No: 635
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 15750 By bal c/d 19593 7
5
To bank 3843 7
5
total 19593 7
5
total 19593 7
5
GENERAL LEDGER
Name: Motor Vehicle Expenses
Acc No: 640
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 816 By bal c/d 816
total 816 total 816
Name: Postage & stationery
Acc No: 650
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 102 By bal c/d 162
24/1
1/17
To petty
cash a/c
60
total 162 total 162
30

Name: Repairs & Maintenance
Acc No: 660
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 75 By bal c/d 75
total 75 total 75
GENERAL LEDGER
Name: Staff Amenities
Acc No: 670
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 68 By bal c/d 68
total 68 total 68
Name: Superannuation
Acc No: 675
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 612 By bal c/d 612
total 612 total 612
Name: Telephone
Acc No: 680
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 426 By bal c/d 762
01/1
1/17
To bank a/c 236
31

total 762 total 762
GENERAL LEDGER
Name: Wages & Salaries
Acc No: 685
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
01/1
1/17
To bal b/d 6800 By bal c/d 7000
To O/s
wages
200
total 7000 total 7000
Name: Accumulated Depreciated - Bldgs & Imp
Acc No: 161
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 58 800 By bal b/d 58 800
total 58 800 total 58 800
Name: Accumulated Depreciation – Motor Vehicles
Acc No: 171
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 5 640 By bal b/d 5 640
total 5 640 total 5 640
GENERAL LEDGER
Name: Accumulated Depreciation – Store Equip
Acc No: 181
Date Details
Post.
Ref. Debit Date Details
Post.
Ref. Credit
To bal c/d 11 700 By bal b/d 11 700
total 11 700 total 11 700
32

SCHEDULES OF SUBSIDIARY LEDGERS
Schedule of Accounts Receivable
as at 30 November 2017
Acc. Code Account Amount
opening Balance 9327.5
Albert Park 19106
Dockland Sporting Club 0
Melbourne High School 870
Yarra City Council 3202.5
Total 32506
Schedule of Accounts Payable
as at 30 November 2017
Acc. Code Account Amount
opening Balance 11 454.00
Herrin Wholesales 383.4
Telstra 0
Allsports 522.5
Willow Equipments 188.21
Southern Gazzette 0
Slogger 772.5
Dandenong Power 0
Quick cleaner 0
Total 13320.61
Schedule of Inventory on Hand
as at 30 November 2017
Acc. Code Account Amount
opening Balance 12 200
ACP Armour Cricket Pads 1937.5
BCB Blaster Cricket Bat 2480
BSB Blaze Soccer Ball 150
DGB Diablo Golf Ball (box of 12) 870
GNB Gifford Netball 80
HFB Herrin Football 900
JBB Jordan Basketball 160
MCB Marsh Cricket Ball 2040
NBS Netball Stand 930
SBB Slammer Backboard 1045
SFB Strike Football Boots 320
33

SGS Slogger Golf Set 12600
GripBite Golf Gloves 35
Golf Putting Mat 150
Total 35897.5
BANK RECONCILIATON STATEMENT
as at 30 November 2017
DATE Balance as per bank statement $
01/11/17 Add: Opening balance 29698.3
02/11/17 Deposits 418
07/11/17 Deposits 3187
08/11/17 Deposits 495
16/11/17 Deposits 5 160.50
19/11/17 Deposit 5215.1
26/11/17 Deposit 1 259.50
26/11/17 Deposit 5 341.00
Less
01/11/17 Bank fees 11.2
01/11/17 Loan Repayment 5 000.00
02/11/17 Cheque 2211 3 298.00
02/11/17 Cheque 2215 200
05/11/17 Cheque 2216 236.5
05/11/17 Cheque 2217 2 533.30
09/11/17 Cheque 2218 640
12/11/17 Cheque 2219 4 000.00
12/11/17 Cheque 2220 1 609.30
12/11/17 Cheque 2221 1 000.00
16/11/17 Cheque 2222 1 755.60
16/11/17 Cheque 2223 440
21/11/17 Cheque 2224 144
21/11/17 Cheque 2225 1 500.00
23/11/17 Cheque 2226 194.15
23/11/17 Cheque 2228 640
26/11/17 Cheque 2227 9 222.29
27/11/17 Cheque 2229 3175
28/11/17 Cheque 2230 1 072.65
30/11/17 Cheque 2231 220
Balance as per Cheque Account(100) 17482.41
34

WORKSHEET
Worksheet for period ended 30 November 2017
Trial
balance
Adjust
ments
Adjusted
Trial
Balance
Balance
sheet
Income
stateme
nt
Account
Number Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
100
Cheque Account – Bendigo
Bank 26 376.30 8680 8680
Petty cashier 15 15
105 Petty Cash 100
110 Accounts Receivable 9 337.50 9337.5 9337.5
120 Merchandise Inventory 12 200.00 12200 12200
130 Prepaid Insurance 3 728.00 3262 3262 3262
140 Prepaid Rates & Taxes 4 400.00 3850 3850 3850
150 GST Paid (outlays) 921.2 2903 2903
160 Buildings & Improvement 980 000.00 979367 977734
161 Accumulated Depreciated - 58 800.00 58800 58800
35

Bldgs & Imp
170 Motor Vehicles ( Cost) 18 800 .00 18487 18174
171
Accumulated Depreciation –
Motor Vehicles 5 640.00 5640 5640
180 Store Equipment ( Cost) 26 100 .00 25779 25458
181
Accumulated Depreciation –
Store Equip 11 700.00 11700 11700
200 Accounts Payable 11 454.00 11454 11454
210 GST Collected 1750.7 4636.2 4636.2
220 PAYG Withholding Payable 320 320 320
230 Superannuation Payable 144 144 144 144
240 O/s Wages & Salaries 200 400 400 400
280 Bank Loan 620 000.00 620000 620000
310 Share Capital 360000 360000 360000
315 Dividends paid 17 000.00 1072.65
18072.6
5
18072.6
5
320 Retained Earnings 30404 30404 30404
400 Sales 69 020.00 101002. 101002.
36

5 5
420 Discounts Received 392.3 392.3 392.3
430 Freight Collected 175 395 395
500 Cost of Sales 31 160.00 31160 31160
520 Freight Expense 324 734 734
600 Advertising 480 920 920
610 Bank Charges 42.4 42.4 42.4
615 Cleaning 850 1070 1070
620 Depreciation 9 086.00 2267 11353 11353
625 Electricity 380.5 574.5 574.5
630 Insurance 1864 2330 2330
635 Interest Expense 15 750.00 3843.75
19593.7
5
19593.7
5
640 Motor Vehicle Expenses 816 816 816
650 Postage & stationery 102 162 162
655 Rates 2 200.00 2750 2750
660 Repairs & Maintenance 75 75 75
37

670 Staff Amenities 68.6 68.6 68.6
675 Superannuation 612 612 612
680 Telephone [phone]
685 Wages & Salaries 6 800.00 7000 7000
Bad debts 990 990 990
Purchase account 21796.5 21796.5
suspense account 20555.1
1205303
120530
3
38

Income Statement
for the period 1 July to 30 November 2017
INCOME
Sales 101002.5
Cost of Goods Sold 31160
Add: purchases 21796.5
GROSS PROFIT 48046
Other Income:
Discounts Received 392.3
Freight Collected 395
TOTAL INCOME 48833.3
EXPENSES
Selling Expenses
GST Paid (outlays) 2903
Freight Expense 734
Wages & Salaries 7000
Administrative Expenses
Advertising 920
Bank Charges 42.4
Cleaning 1070
Depreciation 11353
Electricity 574.5
Insurance 2330
Interest Expense 19593.75
Motor Vehicle Expenses 816
Postage & stationery 162
Rates 2750
Repairs & Maintenance 75
39

Staff Amenities 68.6
Superannuation 612
Telephone 762
NET PROFIT/(LOSS) -2932.95
Balance Sheet
at 30 November 2017
CURRENT ASSETS
Cheque Account – Bendigo Bank 8680
Accounts Receivable 9337.5
Merchandise Inventory 12200
Prepaid Insurance 3262
Prepaid Rates & Taxes 3850
Other assets 41885.2
TOTAL CURRENT ASSETS 79214.7
NONCURRENT ASSETS
Buildings & Improvement 977734
Motor Vehicles 18174
Store Equipment 25458
TOTAL NON-CURRENT ASSETS 1021366
TOTAL ASSETS 1100580.7
CURRENT LIABILITIES
Petty cashier 15
Accounts Payable 11454
GST Collected 4636.2
PAYG Withholding Payable 320
Superannuation Payable 144
O/s Wages & Salaries 400
TOTAL CURRENT LIABILITIES 16969.2
40

NON-CURRENT LIABILITIES
Accumulated Depreciated - Bldgs & Imp 58800
Accumulated Depreciation – Motor Vehicles 5640
Accumulated Depreciation – Store Equip 11700
Bank loan 620000
TOTAL NON- CURRENT LIABILITIES 696140
TOTAL LIABILITIES 713109.2
NET ASSETS 387471.5
EQUITY
Share Capital 360000
Less: net loss 2932.95 357067.05
Retained earnings 30404
387471.05
41

Post- Closing Trial Balance
as at 1 December 2017
Acc. No. Account
Balances
Debit Credit
100 Cheque Account – Bendigo Bank 8680
Petty cashier 15
105 Petty Cash
110 Accounts Receivable 9337.5
120 Merchandise Inventory 12200
130 Prepaid Insurance 3262
140 Prepaid Rates & Taxes 3850
150 GST Paid (outlays) 2903
160 Buildings & Improvement (cost) 979367
161 Accumulated Depreciated - Bldgs & Imp 58800
170 Motor Vehicles ( Cost) 18487
171 Accumulated Depreciation – Motor Vehicles 5640
180 Store Equipment ( Cost) 25779
181 Accumulated Depreciation – Store Equip 11700
200 Accounts Payable 11454
210 GST Collected 4636.2
220 PAYG Withholding Payable 320
230 Superannuation Payable 144
240 O/s Wages & Salaries 400
280 Bank Loan 620000
310 Share Capital 360000
315 Dividends paid 18072 6
5
42

320 Retained Earnings 30404
400 Sales 101002 5
420 Discounts Received 392 3
430 Freight Collected 395
500 Cost of Sales 31160
520 Freight Expense 734
600 Advertising 920
610 Bank Charges 42 4
615 Cleaning 1070
620 Depreciation 11353
625 Electricity 574 5
630 Insurance 2330
635 Interest Expense 19593 7
5
640 Motor Vehicle Expenses 816
650 Postage & stationery 162
655 Rates 2750
660 Repairs & Maintenance 75
670 Staff Amenities 68.6
675 Superannuation 612
680 Telephone 762
685 Wages & Salaries 7000
Bad debts 990
Purchase account 21796 5
suspense account 20555 1
120530 3 120530 3
43