Bank Reconciliation Summary Cash at Bank - Bank Australia Whadjuk Dreaming 10539120 Cheng Ltd As at 31 July 2020 Date Description Reference Amount 31 Jul 2020 Balance in Xero 558,817.92 Plus Outstanding Payments 26 Jul 2020 Payment: multiple items 18,242.62 30 Jul 2020 Bind 920 26,000.00 30 Jul 2020 Uncleared deposit 56,069.20 Total Outst 100,311.82 Less Outstanding Receipts 26 Jul 2020 uncleared cheque 917 18,242.62 30 Jul 2020 uncleared cheque 920 26,000.00 30 Jul 2020 Payment: Cash Sales 56,069.20 Total Outstanding Receipts 100,311.82 31 Jul 2020 Statement Balance 558,817.92 Bank Reconciliation | Whadjuk Dreaming 10539120 Cheng Ltd | As at 31 July 2020 Page 1 of 5Bank Statement Cash at Bank - Bank Australia Whadjuk Dreaming 10539120 Cheng Ltd From 1 July 2020 to 31 July 2020 Date Description Date imported Reference Reconciled Source Amount Balance into Xero 1 Jul 2020 Opening Balance 160,910.00 1 Jul 2020 Uncleared 2 Oct 2020 Reverse Yes Imported (34,500.00) 126,410.00 cheque uncleared cheque 909 909 2 Jul 2020 Uncleared 2 Oct 2020 Reverse Yes Imported (3,500.00) 122,910.00 cheque uncleared cheque 910 910 4 Jul 2020 Bank Australia 2 Oct 2020 5% Loan from Yes Imported 275,000.00 397,910.00 Bank Australia 4 Jul 2020 Uncleared 2 Oct 2020 Reverse Yes Imported 18,425.00 416,335.00 deposit uncleared deposit 4 Jul 2020 Captain 2 Oct 2020 Dutch Cargo Yes Imported (38,919.38) 377,415.62 Walker's Urban Arrow Bicycles Cargo L electric bicycles 911 911 5 Jul 2020 Uncleared 2 Oct 2020 Uncleared YAS Imported 6,050.00 383,465.62 deposit deposit 5 Jul 2020 FTA Speciality 2 Oct 2020 Settle Yes Imported (18,716.00) 364,749.62 Coffee Pre-conversion purchases 912 912 6 Jul 2020 Kolibri Kofe 2 Oct 2020 Settle Yes Imported (6,888.37) 357,861.25 Pre-conversion purchases 913 913 6 Jul 2020 Cash Sales 2 Oct 2020 Settle Cash SalesYes Imported 32,806.88 390,668.13 INV-0005 9 Jul 2020 North Street 2 Oct 2020 Settle Bill 914 Yes Imported (1,107.22) 389,560.91 Bakery 914 10 Jul 2020 Fremantle 2 Oct 2020 Settle Yes Imported 14,220.00 403,780.91 Coffee Pre-conversion sale #INV-000 11 Jul 2020 Cash Sales 2 Oct 2020 Settle Cash SalesYes Imported 47,106.16 450,887.07 INV-0016 14 Jul 2020 Moledina 2 Oct 2020 Settle Yes Imported (15,720.00) 435,167.07 Commodities Pre-conversion sale 18 Jul 2020 Cash Sales 2 Oct 2020 Settle Cash SalesYes Imported 61,801.52 496,968.59 INV-0020 20 Jul 2020 Sales staff 2 Oct 2020 Settle Sales staff Yes Imported (25,515.00) 471,453.59 wages wages for 01-14/07/2020 916 916 21 Jul 2020 ChillZone 2 Oct 2020 Deposit for Yes Imported 43,222.63 514,676.22 INV-000 26 Jul 2020 Sarah's Hot Spot2 Oct 2020 Deposit for Yes Imported (1,500.00) 513,176.22 INV-0024 Bank Reconciliation | Whadjuk Dreaming 10539120 Cheng Ltd | As at 31 July 2020 Page 2 of 5Bank Statement Date Description Date imported Reference Reconciled Source Amount Balance into Xero 26 Jul 2020 Sarah's Hot Spot2 Oct 2020 Cheque Yes Imported 1,500.00 514,676.22 returned for INV-0024 26 Jul 2020 Cash Sales 2 Oct 2020 Settle cash sales Yes Imported 70,566.38 585,242.60 INV-0022 29 Jul 2020 Olam Specialty 2 Oct 2020 Settle INV 918 Yes Imported (17,234.92) 568,007.68 Coffee 918 30 Jul 2020 Freewheelin 2 Oct 2020 Deposit for Yes Imported 18,745.24 586,752.92 Coffee INV-0004 30 Jul 2020 Sales staff 2 Oct 2020 Settle Sales staff Yes Imported (27,910.00) 558,842.92 wages wages for 15-28/07/2020 31 Jul 2020 Bank Australia 2 Oct 2020 Bank Yes Imported (25.00) 558,817.92 transaction fee Closing Balance 558,817.92 Bank Reconciliation | Whadjuk Dreaming 10539120 Cheng Ltd | As at 31 July 2020 Page 3 of 5Statement Exceptions Cash at Bank - Bank Australia Whadjuk Dreaming 10539120 Cheng Ltd From 1 July 2020 to 31 July 2020 Date Description Reference Reconciled Source Reason Amount 1 Jul 2020 Uncleared cheque Reverse uncleared No Imported Deleted 34,500.00 cheque 909 909 2 Jul 2020 Uncleared cheque Reverse uncleared No Imported Deleted 3,500.00 cheque 910 910 4 Jul 2020 Bank Australia 5% Loan from No Imported Deleted (275,000.00) Bank Australia 4 Jul 2020 Uncleared deposit Reverse uncleared No Imported Deleted (18,425.00) deposit 4 Jul 2020 Captain Walker's Dutch Cargo No Imported Deleted 38,919.38 Bicycles Urban Arrow Cargo L electric bicycles 911 911 5 Jul 2020 Uncleared deposit Uncleared deposit No Imported Deleted (6,050.00) 5 Jul 2020 FTA Speciality Settle No Imported Deleted 18,716.00 Coffee Pre-conversion purchases 912 912 6 Jul 2020 Kolibri Kofe Settle No Imported Deleted 6,888.37 Pre-conversion purchases 913 913 6 Jul 2020 Cash Sales Settle Cash Sales No Imported Deleted (32,806.88) INV-0005 9 Jul 2020 North Street Settle Bill 914 914 No Imported Deleted 1,107.22 Bakery 10 Jul 2020 Fremantle Coffee No Imported Deleted (14,220.00) Pre-conversion sale #INV-0001 11 Jul 2020 Cash Sales Settle Cash Sales No Imported Deleted (47,106.16) INV-0016 14 Jul 2020 Moledina Settle No Imported Deleted 15,720.00 Commodities Pre-conversion sale 18 Jul 2020 Cash Sales Settle Cash Sales No Imported Deleted (61,801.52) INV-0020 20 Jul 2020 Sales staff wages Settle Sales staff No Imported Deleted 25,515.00 wages for 01-14/07/2020 916 916 21 Jul 2020 ChillZone Deposit for No Imported Deleted (43,222.63) INV-0003 26 Jul 2020 Cash Sales Settle cash sales No Imported Deleted (70,566.38) INV-0022 26 Jul 2020 Sarah's Hot Spot Deposit for No Imported Duplicate 1,500.00 INV-0024 26 Jul 2020 Sarah's Hot Spot Cheque returned No Imported Duplicate (1,500.00) for INV-0024 29 Jul 2020 Olam Specialty Settle INV 918 918 No Imported Deleted 17,234.92 Coffee Bank Reconciliation | Whadjuk Dreaming 10539120 Cheng Ltd | As at 31 July 2020 Page 4 of 5Statement Exceptions Date Description Reference Reconciled Source Reason Amount 30 Jul 2020 Freewheelin Deposit for No Imported Deleted (18,745.24) Coffee INV-0004 30 Jul 2020 Sales staff wages Settle Sales staff No Imported Deleted 27,910.00 wages for 5-28/07/2020 31 Jul 2020 Bank Australia Bank transaction No Imported Deleted 25.00 fee Bank Reconciliation | Whadjuk Dreaming 10539120 Cheng Ltd | As at 31 July 2020 Page 5 of 5Balance Sheet Whadjuk Dreaming 10539120 Cheng Ltd As at 31 July 2020 31 JUL 2020 Assets Bank Cash at Bank - Bank Australia 558,818 Total Bank 558,818 Current Assets ARC - Accounts Receivable Control 32,826 Interest Receivable 165 Inventory 219,885 Office Supplies 15,230 Prepaid Advertising 30,000 Prepaid Insurance 11,800 Prepaid Rent 15,000 Term deposit account no. 1 100,000 Uncleared Deposits 56,069 Total Current Assets 480,975 Fixed Assets Accum. Depn: Cash Registers (5,167) Accum. Depn: Delivery Bicycles (983) Accum. Depn: Store Fixtures (12,542) Cash Registers 45,000 Delivery Bicycles 35,381 Store Fixtures 215,000 Total Fixed Assets 276,690 Total Assets 1,316,483 Liabilities Current Liabilities APC - Accounts Payable Control 6,077 Electricity Payable 4,370 GST 24,858 Interest Payable 1,145 Uncleared Cheques 44,243 Wages and Salaries Payable 6,600 Water Payable 1,175 Total Current Liabilities 88,467 Non-current Liabilities Loan - Interest Only No. 01 275,000 Total Non-current Liabilities 275,000 Total Liabilities 363,467 Balance Sheet | Whadjuk Dreaming 10539120 Cheng LtdBalance Sheet 31 JUL 2020 Net Assets 953,016 Equity Current Year Earnings (11,919) Retained Earnings 554,936 Share Capital 410,000 Total Equity 953,016 Balance Sheet | Whadjuk Dreaming 10539120 Cheng LtdStatement of Cash Flows Whadjuk Dreaming 10539120 Cheng Ltd For the month ended 31 July 2020 JUL 2020 Operating Activities Receipts from customers 344,703 Payments to suppliers and employees (373,950) Cash receipts from other operating activities (3,538) Net Cash Flows from Operating Activities (32,785) Investing Activities Proceeds from sale of property, plant and equipment 3,441 Payment for property, plant and equipment 35,381) Other cash items from investing activities 168, 101 Net Cash Flows from Investing Activities 136,161 Financing Activities Other cash items from financing activities 294,533 Net Cash Flows from Financing Activities 294,533 Net Cash Flows 397,908 Cash and Cash Equivalents Cash and cash equivalents at beginning of period 160,910 Cash and cash equivalents at end of period 658,818 Net change in cash for period 397,908 Statement of Cash Flows | Whadjuk Dreaming 10539120 Cheng LtdJournal Report Whadjuk Dreaming 10539120 Cheng Ltd From 31 Jul 2020 to 31 Jul 2020 ID 127 Ending inventory (Manual Journal: Posted by Pui Yu Cheng on 3 Oct 2020) 31 J ul 2020 Account Debit Credit Inventory (120) 219,884.98 Cost of goods sold (502) 148,690.21 Inventory (120) 366,610.00 Purchase Returns and Allowances (501) 6,377.27 Purchases (500) 8,342.46 374,952.46 374,952.46 ID 126 Depreciation for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 2 Oct 2020) 31 J ul 2020 Account Debit Credit Depreciation Expense (560) 666.67 Accum. Depn: Cash Registers (151) 666.67 Depreciation Expense (560) 1,791.67 Accum. Depn: Store Fixtures (161) 1,791.67 Depreciation Expense (560) 982.81 Accum. Depn: Delivery Bicycles (171) 982.81 3,441.15 3,441.15 ID 82 Insurance expense for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) 31 J ul 2020 Account Debit Credit Insurance Expense (543) 2,950.00 Prepaid Insurance (142) 2,950.00 2,950.00 2,950.00 ID 81 Advertising expenses for 07/2020 ( Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) 31 J ul 2020 Account Debit Credit Advertising Expense (511) 15,000.00 Prepaid Advertising (141) 15,000.00 15,000.00 15,000.00 ID 80 Rent for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) Debit 31 J ul 2020 Account Credit Rent Expense (540) 15,000.00 Prepaid Rent (140) 15,000.00 15,000.00 15,000.00 ID 79 Office supplies for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) 31 Jul 2020 Account Debit Credit Office Supplies Expense (544) 20,185.00 Office Supplies (130) 20,185.00 20, 185.00 20, 185.00 Journal Report | Whadjuk Dreaming 10539120 Cheng Ltd | 5 October 2020 Page 1 of 2Journal Report ID 78 Interest income from short-term investments for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) 31 Jul 2020 Account Debit Credit Interest Receivable (112) 165.00 Interest Income (403) 165.00 165.00 165.00 ID 77 5% interest for loan from Bank Australia for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 31 Jul 2020 29 Sep 2020) Account Debit Credit Interest Expense (571) 1,145.00 Interest Payable (225) 1,145.00 1,145.00 1,145.00 ID 76 Wages for sales staff for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 2020) Account 31 Jul 2020 Wages and Salary Expense (516) Debit Credit 6,600.00 Wages and Salaries Payable (220) 6,600.00 6,600.00 5,600.00 ID 75 Water Corporation - Estimated water usage for 07/2020 (Manual Journal: Posted by Pui Yu Cheng 31 Jul 2020 on 29 Sep 2020) Account Water Expense (542) Debit Credit 1,175.00 Water Payable (222) 1,175.00 1,175.00 1,175.00 2020) ID 74 Synergy Ltd - Estimated electricity for 07/2020 (Manual Journal: Posted by Pui Yu Cheng on 29 Sep 31 Jul 2020 Account Debit Electricity Expense (541) Credit 4,370.00 Electricity Payable (221) 4,370.00 4,370.00 4,370.00 Journal Report | Whadjuk Dreaming 10539120 Cheng Ltd | 5 October 2020 Page 2 of 2Profit and Loss Whadjuk Dreaming 10539120 Cheng Ltd For the month ended 31 July 2020 JUL 2020 Trading Income Interest Income 165 Sales 291,367 Sales Returns and Allowances 5,445) Total Trading Income 286,087 Gross Profit 286,087 Operating Expenses Advertising Expense 15,000 Bank Fees 25 Cost of goods sold 148,690 Depreciation Expense 3,441 Electricity Expense 4,370 Insurance Expense 2,950 Interest Expense 1,145 Office Supplies Expense 20,185 Rent Expense 15,000 Wages and Salary Expense 86,025 Water Expense 1. 175 Total Operating Expenses 298,006 Net Profit (11,919) Profit and Loss | Whadjuk Dreaming 10539120 Cheng LtdTrial Balance Whadjuk Dreaming 10539120 Cheng Ltd As at 31 July 2020 ACCOUNT CODE ACCOUNT ACCOUNT TYPE DEBIT CREDIT 400 Sales Revenue 291,367.49 401 Sales Returns and Allowances Revenue 5,445.45 403 Interest Income Revenue 165.00 502 Cost of goods sold Expense 148,690.21 511 Advertising Expense Expense 15,000.00 516 Wages and Salary Expense Expense 86,025.00 540 Rent Expense Expense 15,000.00 541 Electricity Expense Expense 4,370.00 542 Water Expense Expense 1,175.00 543 Insurance Expense Expense 2,950.00 544 Office Supplies Expense Expense 20,185.00 560 Depreciation Expense Expense 3,441.15 571 Interest Expense Expense 1,145.00 572 Bank Fees Expense 25.00 100 Cash at Bank - Bank Australia Bank 558,817.92 101 Uncleared Deposits Current Asset 56,069.20 102 Term deposit account no. 1 Current Asset 100,000.00 110 ARC - Accounts Receivable Control Current Asset 32,826.23 112 Interest Receivable Current Asset 165.00 120 Inventory Current Asset 219,884.98 130 Office Supplies Current Asset 15,230.00 140 Prepaid Rent Current Asset 15,000.00 141 Prepaid Advertising Current Asset 30,000.00 142 Prepaid Insurance Current Asset 11,800.00 150 Cash Registers Fixed Asset 45,000.00 151 Accum. Depn: Cash Registers Fixed Asset 5,166.67 160 Store Fixtures Fixed Asset 215,000.00 161 Accum. Depn: Store Fixtures Fixed Asset 12,541.67 170 Delivery Bicycles Fixed Asset 35,381.25 171 Accum. Depn: Delivery Bicycles Fixed Asset 982.81 202 GST Current Liability 24,857.55 203 Uncleared Cheques Current Liability 44,242.62 210 APC - Accounts Payable Control Current Liability 6,076.95 220 Wages and Salaries Payable Current Liability 5,600.00 221 Electricity Payable Current Liability 4,370.00 222 Water Payable Current Liability 1,175.00 225 Interest Payable Current Liability 1,145.00 250 Loan - Interest Only No. 01 Non-current Liability 275,000.00 300 Share Capital Equity 410,000.00 301 Retained Earnings Equity 554,935.63 Total 1,638,626.39 1,638,626.39 Trial Balance | Whadjuk Dreaming 10539120 Cheng Ltd