BFA507 Accounting Framework: Borderline Ltd. Manual Task Solution

This document presents a comprehensive solution to a manual accounting task, likely for the course BFA507 - The Accounting Framework. It includes detailed T-accounts for various accounts such as accounts receivable, rent expense, discount allowed, and cash at bank. The solution also features journal entries, an unadjusted and adjusted trial balance, a post-closing trial balance, and closing entries. Furthermore, it includes a Statement of Financial Performance, a Statement of Financial Position, and a Bank Reconciliation statement for Borderline Ltd. The document also provides explanations of financial accounting, different types of trial balances, closing and adjustment entries, and bank reconciliation statements. This resource offers a detailed walkthrough of the accounting process and financial statement preparation.

ACCOUNTING 1
ACCOUNTING

ACCOUNTING 2
Part A:
T accounts:
Accounts receivables
Date Particulars Debit Credit
Jun-
01 Bank
1,200.0
0
Jun-
03 Bank
905.0
0
Jun-
08 Bank
1,900.0
0
Jun-
13 Bank
700.0
0
Jun-
18 Bank
3,465.0
0
Jun-
28 Bad debt expense
250.0
0

ACCOUNTING 3
Rent expense
Date Particulars Debit Credit
Jun-
04 Bank
1,500.0
0
Discount allowed
Date Particulars Debit Credit
Cash register and other stationery expense
Date Particulars Debit Credit
Cash at bank 220.0

ACCOUNTING 4
0
Cash at bank
Date Particulars Debit Credit
Jun-
01 Accounts receivables
1,200.0
0
Jun-
04 Rent
1,500.0
0
Jun-
06 Accounts payable
4,500.0
0
Jun-
08 Accounts receivables
1,900.0
0
Jun-
11 Accounts payable
1,397.0
0
Jun-
12 Telephone expense
320.0
0
Jun-
13 Accounts receivables
700.0
0
Jun-
14 Sales revenue
20,900.0
0
Jun-
14 Wages expense
5,200.0
0

ACCOUNTING 5
Jun-
17
Cash register and other
stationery
220.0
0
Jun-
23 Accounts payable
3,200.0
0
Jun-
27 Sundry expense
435.0
0
Jun-
29 Sales revenue
27,500.0
0
Jun-
30 Wages expense
5,600.0
0
Jun-
30 Sales revenue
4,200.0
0
Jun-
30 Accounts payable
1,700.0
0
GST paid
Date Particulars Debit Credit
Jun-
05 Purchases
127.0
0
Jun-
30 Purchases
410.0
0

ACCOUNTING 6
Discount received
Date Particulars Debit Credit
Jun-
06 Accounts payable
50.0
0
Sundry expense
Date Particulars Debit Credit
Jun-
27 Cash at bank
435.0
0
Sales revenue
Date Particulars Debit Credit
Jun-
03 Accounts receivables
823.0
0
Jun-
14 Cash
19,000.0
0

ACCOUNTING 7
Jun-
18 Accounts receivables
3,150.0
0
Jun-
29 Cash
25,000.0
0
Jun-
30 Accounts receivables
140.0
0
Jun-
30 Cash
3,818.0
0
Purchases
Date Particulars Debit Credit
Jun-
05 Accounts payable
1,270.0
0

ACCOUNTING 8
Jun-
30 Accounts payable
4,100.0
0
Telephone expense
Date Particulars Debit Credit
Jun-
12 Bank
320.0
0
Bad debt expense
Date Particulars Debit Credit
Jun-
28 Accounts receivables
250.0
0
GST collected

ACCOUNTING 9
Date Particulars Debit Credit
Jun-
03 Sales 82.00
Jun-
14 Sales 1,900.00
Jun-
18 Sales 315.00
Jun-
29 Sales 2,500.00
Jun-
30 Sales return 14.00
Jun-
30 Sales 382.00
Accounts payable

ACCOUNTING 10
Date Particulars Debit Credit
Jun-
05 Purchases 1,397.00
Jun-
06 Bank 4,550.00
Jun-
11 Bank 1,397.00
Jun-
11 Bank 3,200.00
Jun-
30 Bank 1,700.00
PAYG
Date Particulars Debit Credit
Jun-
14 Wages expense 2,200.00
Jun-
30 Wages expense 2,000.00
Wages expense
Date Particulars Debi Credi

ACCOUNTING 11
t t
Jun-
14 Wages payable 7400
Jun-
30 Wages payable 7600
Post-closing trial balance:
Particulars
Unadjusted trial
balance Adjustments Adjusted Trial balance
Debit Credit Debit Credit Debit Credit
Cash at
bank
25,200.
00
27,675.
00
52,875.
00
Debtors
control
9,000.
00
-
220.00
9,220.
00
Provision
for doubtful
debts
300.
00
300.
00
Inventory
85,000.
00
1,270.
00
86,270.
00
Shop
Fittings and
Equipment
60,000.
00
60,000.
00

ACCOUNTING 12
Acc
depreciation
–Shop
fittings and
Equip
10,465.
00
5,460.
00
15,925.
00
Motor
Vehicles
35,000.
00
35,000.
00
Accumulate
d
depreciation
–M/Vehicle
s
11,500.
00
6,000.
00
17,500.
00
Creditors
control
14,000.
00
11,789.
00
2,211.
00
Wages
payable
1,320.
00
1,320.
00
Income tax
payable
12,430.
00
12,430.
00
Share
capital
60,000.
00
60,000.
00
Retained
profits
81,735.
00
81,735.
00
Sales
revenue
53,469.
00
53,469.
00
GST Paid 4,300. 537. 4,837.