- Enter the opening balances into the general and subsidiary ledger accounts
- Post from journals to ledger accounts at 31 July 2020. You are required to maintain the subsidiary ledgers on the transaction date to maintain the integrity between the general ledgers and subsidiary ledgers.
- Prepare accounts receivables and accounts payables reconciliation statement
Consider GST is 10%
Consider GST is 10%
Consider GST is 10%
Complete the following: You are required to prepare the following: a) Enter the opening balances into the general and subsidiary ledger accounts b) Post from journals to ledger accounts at 31 July 2020. You are required to maintain the subsidiary ledgers on the transaction date to maintain the integrity between the general ledgers and subsidiary ledgers. c) Prepare accounts receivables and accounts payables reconciliation statement Information Provided (to complete questions task 2a-2c): Opening balances as on 1st July 2020 Cash at Bank 23500 Equipment and Furniture 33000 Inventory 16000 Delivery Van 34000 Capital 107976 Accounts Receivables Accounts Payables Synergy P/L $3900 Christine Jewels 1440 Sweet Creator $1800 Jewels for you 990 Charlie Smith $760 Peter Bell 1760 Specialised Journals for Platinum Heights for the month of July 2020 CREDIT PURCHASES JOURNAL Debit Accounts Credit Date Purchases GST Paid Accounts Payable Invoice # C/Note # 03-Jul-20 R233 14-Jul-20 19-Jul-20 160 Particulars Christine Jewels 1148 Jewels for You 345 Peter Bell 1600 740 1760 814 74 700 70 770 3,040 304 3,344 CREDIT SALES JOURNAL Debits Credits Invoice C/Note # Accounts Rec. GST Collected Sales 601 825 750 75 Date 01-Jul-20 08-Jul-20 12-Jul-20 602 330 300 Particulars Synergy P/L Sweet Creator Charlie Smith Synergy P/L (return) Charlie Smith 30 15 603 165 150 18-Jul-20 CN43 -88 -80 -8 25-Jul-20 604 462 420 42 1,694 1,540 154 CASH PAYMENTS JOURNAL Debit Accounts Credit GST Date Cha Particulars Accounts Payable Purchases Wages Sundry Bank # Paid 1,300 130 1,430 198 180 18 950 950 02-Jul-20 05-Jul-20 14-Jul-20 22-Jul-20 25-Jul-20 28-Jul-20 001 002 003 004 005 006 100 100 Rent Purchases Wages Drawings Stationery Wages Christine Jewels 150 15 165 940 940 31-Jul-20 007 594 594 594 180 1890 1550 163 4377 CASH RECEIPTS JOURNAL Credit Accounts Debit Accounts Receipt GST Date Particulars A/C# Bank Accts Rec. # Sales Collected 114 420 02-Jul-20 11-Jul-20 Synergy P/L Sales 115 420 1,023 1,443 930 93 420 930 93 Task 2 - Platinum Heights General Ledgers Templates Bank 100 Date Details Folio Debit Credit Balance Accounts Receivable Control 110 Date Details Folio Debit Credit Balance 120 Inventory Folio Date Details Debit Credit Balance 174 Equipment & Furniture Folio Date Details Debit Credit Balance Delivery Van Folio 170 Balance Date Details Debit Credit 210 Accounts Payable Control Folio Date Details Debit Credit Balance GST Collected 230 Balancel Date Details Folio Debit Credit 125 GST Paid Folio Date Details Debit) Credit) Balance Capital Folio 300 Balance Date Details Debit) Credit Drawings Folio 3101 Balance Date Details Debit Credit 4001 Sales Folio Date Details Debit Credit Balance Discount Received 450 Purchases 5001 Stationery 605 Rent 610 Discount Allowed 800 Wages 700 ACCOUNTS RECEIVABLE LEDGERS Synergy P/L Folio Debit 110.1 Date Details Credit Balance Schedule of Accounts Receivable at 31 July Account # Name Balance 110.01 110.02 110.03 Sweet Creator 110.2 Charlie Smith 110.3 ACCOUNTS PAYABLE LEDGER Christine Jewels 210.1 Balance Date Details Folio Debit Credit Schedule of Accounts Payable at 31 July Account # Name Balance 210.1 210.2 210.3 Jewels for you 210.2 Peter Bell 210.3
