MPA701 Accounting: General Ledger & Exceptions Report - Abcde Ltd

This document presents a General Ledger Summary and Exceptions Report for Abcde Ltd, covering the period from July 1, 2017, to July 31, 2017. The General Ledger Summary details the account balances, debit and credit movements, and net movements for various accounts, including ABCDE, Accounts Payable, Accounts Receivable, Advertising, and more. The Exceptions Report highlights specific transactions and adjustments, such as depreciation, insurance expenses, interest payable, and office supplies expenses, providing detailed reasons and references for each entry. This report is part of an MPA701 Accounting assignment and offers insights into the financial activities and accounting practices of Abcde Ltd during the specified period.

General Ledger
Summary
General Ledger Report | Abcde Ltd Shanmukha sai saroja Pattipati 219140179 | 16 May 2019 Page 1 of 3
Abcde Ltd Shanmukha sai saroja Pattipati 219140179
From 1 July 2017 to 31 July 2017
Account Debit Credit Net Movement
ABCDE (431) 3,090 13,765 (10,675)
Acc dep motor Vehicle (713) - 325 (325)
Acc dep office furniture (715) - 215 (215)
Accounts Payable (800) 3,706 6,516 (2,810)
Accounts Receivable (610) 20,955 3,090 17,865
Advertising (400) 582 - 582
Allowance for Doubtful Debt (611) 182 - 182
Computer Equipment (720) 2,065 - 2,065
Less Accumulated Depreciation on Computer Equipment (721) - 33 (33)
Cost of Goods Sold (310) 2,812 - 2,812
Depreciation (416) 574 - 574
GST (820) 1,149 1,905 (756)
Historical Adjustment (840) 200 - 200
Insurance (433) 345 - 345
Interest Expense (437) 60 - 60
Interest payable (612) - 60 (60)
Inventory adjustment (434) - 200 (200)
Motor Vehicle Expenses (449) 145 - 145
Office Expenses (453) 947 - 947
Office supplies (716) 465 947 (482)
Other Revenue (260) - 182 (182)
Prepayments (620) 2,068 345 1,723
Rent (469) 3,357 - 3,357
Sales (200) - 19,050 (19,050)
Wages and Salaries (477) 3,932 - 3,932
Total 46,633 46,633 -

General Ledger
Exceptions
General Ledger Report | Abcde Ltd Shanmukha sai saroja Pattipati 219140179 | 16 May 2019 Page 2 of 3
Abcde Ltd Shanmukha sai saroja Pattipati 219140179
From 1 July 2017 to 31 July 2017
Date Type Reason Transaction Reference Debit Credit GST
Acc dep motor Vehicle (713)
31 Jul 2017 MJ GST depreciation depreciation 325 0.0%
31 Jul 2017 Total Acc dep motor Vehicle
(713)
325
Net movement 325
Acc dep office furniture (715)
31 Jul 2017 MJ GST depreciation depreciation 215 0.0%
31 Jul 2017 Total Acc dep office furniture
(715)
215
Net movement 215
Insurance (433)
31 Jul 2017 MJ GST Insurance
expense
Insurance
expense
345 0.0%
31 Jul 2017 Total Insurance (433) 345
Net movement 345
Interest Expense (437)
31 Jul 2017 MJ GST Interest payable Interest payable 60 0.0%
31 Jul 2017 Total Interest Expense (437) 60
Net movement 60
Office Expenses (453)
31 Jul 2017 MJ GST Office supplies
expense
Office supplies
expense
947 0.0%
31 Jul 2017 Total Office Expenses (453) 947
Net movement 947
Office supplies (716)
27 Jul 2017 INV Debit CREDIT
PURCHASE
465 10.0%
31 Jul 2017 Total Office supplies (716) 465
Net movement 465
Other Revenue (260)
31 Jul 2017 MJ GST Bad debt
expense
Bad debt
expense
182 0.0%
31 Jul 2017 Total Other Revenue (260) 182
Net movement 182
Prepayments (620)
15 Jul 2017 PAY GST INSURANCE
EXPENSE
2,068 10.0%
31 Jul 2017 Total Prepayments (620) 2,068
Net movement 2,068
Total 3,885 722

General Ledger
Exceptions
General Ledger Report | Abcde Ltd Shanmukha sai saroja Pattipati 219140179 | 16 May 2019 Page 3 of 3
Date Type Reason Transaction Reference Debit Credit GST