Deakin University MPA701: Abcde Pty Ltd Trial Balance

This document presents a trial balance for Abcde Pty Ltd as of June 30, 2018. The trial balance includes account codes, account names, and account types, along with corresponding debit and credit amounts. It covers a range of accounts, including sales revenue, cost of goods sold, various expense accounts (advertising, depreciation, insurance, interest, motor vehicle, office, rent, wages), current assets (accounts receivable, prepaid insurance, inventory, office supplies), bank balances, fixed assets (computer, motor vehicles, office furniture), and liabilities (allowance for doubtful debt, accounts payable, GST, interest payable, historical adjustment, owner funds introduced, and loan). The provided information includes opening balances for the company as of July 1, 2017, and details the company's operations as a retailer, including its use of the weighted average cost allocation method, perpetual inventory recording, and straight-line and reducing balance depreciation methods. This assignment is a solution to a homework assignment for the MPA701 Accounting course at Deakin University.

Trial Balance Abcde Pty Ltd
Trial Balance
Abcde Pty Ltd
As at 30 June 2018
ACCOUNT CODE ACCOUNT ACCOUNT TYPE DEBIT CREDIT 30 JUN 2017
200 Sales Revenue 19,000.00 -
310 Cost of Goods Sold Direct Costs 3,290.82 -
322 Doubtful debt expense Expense 216.12 -
400 Advertising Expense 630.00 -
416 Depreciation Expense 568.02 -
433 Insurance Expense 83.78 -
437 Interest Expense Expense 60.00 -
449 Motor Vehicle Expenses Expense 140.00 -
453 Office Expenses Expense 362.00 -
469 Rent Expense 2,616.36 -
477 Wages and Salaries Expense 3,491.00 -
610 Accounts Receivable Current Asset 21,612.00 3,904.00
621 Prepaid Insuracne Current Asset 1,022.22 -
630 Inventory Current Asset 11,380.00 11,380.00
640 ABC BANK Bank 12,227.00 20,578.00
642 Office supplies Current Asset 669.55 487.00
650 COMPUTER Fixed Asset 2,144.55 -
710 Motor Vehicles Fixed Asset 23,222.00 23,222.00
711
Less Accumulated
Depreciation on Motor
Vehicles
Fixed Asset 2,758.37 (2,405.00)
720 Office Furniture Fixed Asset 11,321.00 11,321.00
721
Less Accumulated
Depreciation on Office
Furniture
Fixed Asset 1,444.25 (1,264.00)
722 Less; Acc dep ComputersFixed Asset 34.40 -
641 Allowance for doubtful debtCurrent Liability 669.12 (453.00)
800 Accounts Payable Current Liability 7,294.00 (4,134.00)
820 GST Current Liability 981.28 -
821 Interest Payable Current Liability 60.00 -
840 Historical Adjustment Current Liability 179.00 -
881 Owner A Funds IntroducedCurrent Liability 37,988.00 (37,988.00)
900 Loan Non-current Liability 11,652.00 (11,652.00)
960 Retained Earnings Equity 12,996.00 (12,996.00)
Total 95,056.42 95,056.42 -