Hi,

I am unsure how to complete the following, can someone please help me with filling in the General Ledger etc

The questions are attached, Thank you

a) Check that the total of the opening balances in the Accounts Receivable and Accounts Payable Subsidiary ledgers match the Accounts Receivable and Accounts Payable General Ledger opening balance and make any necessary corrections. Record all relevant transactions into the Accounts Receivable and Accounts Payable Subsidiary Ledger accounts. b) Check the opening Bank Balance in the General Ledger and ensure that it agrees with the Bank Reconciliation as at 31 December 2017 as provided. Reconcile the bank account and prepare a Bank Reconciliation Statement as at 31 January 2018 c) Total and balance the journals as required. d) Ensure all opening balances in the General Ledger (refer to Templates provided) match the December Trial Balance provided. If they don't then you need to enter the balance from the December Trial Balance. Post the journals to the General Ledger accounts. e) Complete the Accounts Receivable and Accounts Payable reconciliations for 31 January 2018. f) Prepare the Trial balance as at 31 January 2018. g) Prepare the Income Statement for the period ended 31 January 2018 on the template provided. h) Prepare the Balance Sheet as at 31 January 2018 on the template provided. General Journal 21.01.18 Debit Motor vehicle Equipment at cost Credit 10,500 700 Capital 11,200 (Owner introduced assets into the business) 23.01.18 Equipment at cost GST paid 1,500 150 Accounts payable 1,650 (Purchased equipment from John Deere on credit) 31.01.18 Accounts receivable Late Fee Revenue (Late fee charged on Trendy Tricks Pty Ltd account ) Authorised: Jenny Chee 31.01.18 10 10 Sales Journal Accounts receivable Invoice no. Sold to: 05.01.18 1214 Solid Solutions Ltd 1020.00 102.00 1122.00 09.01.18 1256 Allen's Accounting 620.00 62.00 682.00 10.01.18 1259 Gumby Footy Club 755.00 75.50 830.50 11.01.18 CN554 Allen's Accounting -40.00 -4.00 -44.00 15.01.18 1285 GDT Pty Ltd 230.00 23.00 253.00 24.01.18 1304 S Smith 154.00 15.40 169.40 31.01.18 1324 Goodfield SHS 140.00 14.00 154.00 Totals Authorised: Jenny Chee 31.01.18 * All credit sales include GST. Sales* GST collected Date Purchases Journal Bought from: Date Invoice no. 04.01.18 100471 Coca Cola Ltd 485.00 48.50 533.50 04.01.18 56594 Donaldson's Dairy 124.00 0 124.00 05.01.18 2201 Allen's Confection 260.00 26.00 286.00 07.01.18 567 Allen's Confection -20.00 -2.00 -22.00 08.01.18 5546 Clear Springs 155.00 0 155.00 13.01.18 56596 Donaldson's Dairy 146.00 5.50 151.50 15.01.18 102484 Coca Cola Ltd 845.00 84.50 929.50 19.01.18 44494 Coca Cola Ltd -42.00 -4.20 -46.20 20.01.18 8997 Smart Golf 62.00 6.20 68.20 30.01.18 56657 Donaldson's Dairy 180.00 18.00 198.00 Totals Authorised: Jenny Chee 31.01.18 Purchases Accounts payable GST paid Cash Receipts Journal * Cash sales include GST Free sales and taxable sales. GST Collected Accounts receivable Discount Allowed Ref no. Particulars Folio/ account 06.01.18 215 Cash sales Sales 142.00 1510.00 1,652.00 08.01.18 216 Cash sales Sales 135.00 1,410.50 1,545.50 12.01.18 217 Cash sales Sales 5.00 50.00 12.01.18 218 Cash sales Sales 36.40 387.20 13.01.18 219 Rent received Rent 110.00 14.01.18 220 Solid Solutions A/C Rec 18.01.18 221 Cash sales Sales 21.01.18 222 Gumby Football Club A/C Rec 22.01.18 223 Cash sales Sales 29.01.18 224 S Smith A/C Rec 29.01.18 225 Cash sales Sales 30.01.18 226 Owner contribution Capital 31.01.18 227 Cash sales Sales Totals Authorised: Jenny Chee 31.01.18 Cash Payments Journal Sales* Other accounts Date 478.60 1,100.00 1,210.00 1122.00 62.50 690.10 1,122.00 752.60 803.50 40.00 Bank 400.00 803.50 440.00 169.40 35.00 380.00 584.40 2,000.00 121.00 1,245.00 2,000.00 1,366.00 Date Ref no. Particulars Folio/ Account 01.01.18 45 Coles Purchases 35.60 384.20 419.80 04.01.18 46 Ready Rewards Purchases 100.00 1,000.00 1,100.00 11.01.18 47 Coca Cola Ltd A/C Pay 11.01.18 48 Telephone Telephone 11.01.18 49 Donaldson's Dairy A/C Pay 13.01.18 50 Cash purchases Purchases 13.01.18 51 Wages Wages 14.01.18 52 Clear Springs Various 22.01.18 53 Coca Cola Ltd A/C Pay 26.01.18 54 Harvey Norman Equipment 27.01.18 55 Wages Wages 31.01.18 56 Donaldson's Dairy A/C Pay Totals Authorised: GST Paid Purchases Other accounts Accounts payable Discount Received 533.50 32.40 533.50 324.00 356.40 124.00 4.30 124.00 43.00 47.30 430.00 -0.50 430.00 155.00 883.30 230.00 Bank -5.00 149.50 883.30 2,300.00 2,530.00 510.00 510.00 198.00 198.00 The Bank Statement for January 2018 Jolly Amusements 2018 Withdrawals Deposits Balance 1 Jan Opening balance 25,154.68 Cr 4 Jan Deposit 4 Jan Withdrawal - Chq 000043 176.00 26,234.68 Cr 5 Jan Withdrawal - Chq 000045 419.80 25,814.88 Cr 7 Jan Deposit 1,652.00 27,466.88 Cr 9 Jan Deposit 1,545.50 29,012.38 Cr 12 Jan Withdrawal - Chq 000047 533.50 28,478.88 Cr 12 Jan Withdrawal - Chq 000046 1,100.00 27,378.88 Cr 12 Jan Deposit 12 Jan Withdrawal - Chq 000048 356.40 27,501.08 Cr 13 Jan Withdrawal - Chq 000049 124.00 27,377.08 Cr 13 Jan Deposit 15 Jan Withdrawal - Chq 000051 15 Jan Deposit 17 Jan Withdrawal - Chq 000052 149.50 29,129.58 Cr 18 Jan Direct debit Loan - The Bank 230.00 28,899.58 Cr 21 Jan Deposit 752.60 29,652.18 Cr 21 Jan Deposit 830.50 30,482.68 Cr 22 Jan Deposit 440.00 30,922.68 Cr 27 Jan Withdrawal - Chq 000054 29 Jan Deposit 31 Jan Bank charges 31 Jan Withdrawal - Chq 000055 31 Jan Interest on account 1,256.00 478.60 1210.00 430.00 26,410.68 Cr 27,857.48 Cr 28,587.08 Cr 28,157.08 Cr 1122.00 2,530.00 29,279.08 Cr 28,392.68 Cr 584.40 28,977.08 Cr 18.50 28,958.58 Cr 510.00 28,448.58 Cr 22.28 28,470.86 Cr Trial Balance as at 31 December 2017 Account Cash at bank Accounts receivable Equipment at cost Accounts payable GST Collected GST Paid Loan - The Bank Capital Debit 26234.68 1410.00 12870.00 279.00 783.00 521.30 17439.50 22534.48 41035.98 Bank Reconciliation as at 31/12/2017 Balance as per Bank Statement Plus Outstanding Deposits 31.12.17 $25,154.68 1,256.00 26,410.68 Less Unpresented Cheques Chq no. 000043 Balance as per GL c) Bank Reconciliation as at 31/01/2018 Balance as per Bank Statement Plus Outstanding Deposits Less Unpresented Cheques Balance as per GL Credit 176.00 $26,234.68 41035.98 e) General Ledger accounts Account Name: Cash at bank Date 01.01.18 Details Opening balance Account No.100 Folio Debit Credit 26,234.68 dr Account Name: Accounts receivable Date 01.01.1 8 Details Account No.110 Folio Debit Credit 1410.00 dr Details Opening balance Account No.170 Folio Debit Credit Details Account No.174 Folio Debit Credit Account Name: Accounts payable Date 01.01.1 8 Details Opening balance Balance 12,870.00 dr Account Name: Motor Vehicles at cost Date Balance Opening balance Account Name: Equipment at cost Date 01.01.18 Balance Balance Account No.210 Folio Debit Credit Balance 279.00 cr Account Name: GST collected Date 01.01.18 Details Opening balance Account No.230 Folio Debit Credit 783.00 cr Account Name: GST paid Date 01.01.18 Details Opening balance Account No.125 Folio Debit Credit Details Opening balance Account No.270 Folio Debit Credit Details Opening balance Account Name: Sales Balance 17,439.50 cr Account Name: Capital Date 01.01.18 Balance 521.30 dr Account Name: Loan - The Bank Date 01.01.18 Balance Account No.300 Folio Debit Credit Balance 22,534.48 cr Account No.400 Date Details Folio Debit Credit Account Name: Rent received Date Details Account No.455 Folio Debit Credit Account Name: Interest received Date Details Details Folio Debit Credit Details Folio Debit Credit Details Balance Account No.475 Folio Debit Credit Account Name: Purchases Date Balance Account No.465 Account Name: Late Fee Revenue Date Balance Account No.460 Account Name: Discount received Date Balance Balance Account No.500 Folio Debit Credit Balance Account Name: Bank Charges Date Details Account No.602 Folio Debit Credit Account Name: Telephone Date Details Account No.650 Folio Debit Credit Account Name: Wages Date Details Balance Balance Account No.670 Folio Debit Credit Balance f) Accounts Receivable and Accounts Payable Reconciliations Account Receivable Reconciliation 31 January 2018 Account NumAccount Name Total Due ber Current 0 - 30 days Grand Totals Balance per GL Variance 61 - 90 Days 90+ day s 61 - 90 Days 90+ day s $ $ Account Payable Reconciliation 31 January 2018 Account Account Name Total Due Number Current 0 - 30 days Grand Totals Balance as per GL Variance 31 - 69 Days $ $ 31 - 69 Days g) Trial Balance of Jolly Amusements as at 31 January 2018 Account Number Account Name Debit Credit h) Income Statement for the period ended 31 January 2018 JOLLY AMUSEMENTS Income Statement for the period ended 31 January 2018 Revenue Sales Revenue $ Less COGS $ GROSS PROFIT Add Other Revenue Rent Received Interest Received Discount Received $ Late Fee Revenue $ $ $ $ $ $ Less Operating Expenses Bank Charges Telephone Wages NET PROFIT $ $ $ $ $ i) Balance Sheet as at 31 January 2018 JOLLY AMUSEMENTS Balance Sheet as at 31 January 2018 Current Assets Cash at bank $ Accounts Receivable Control Non-current Assets Motor Vehicles at Cost $ Equipment at Cost TOTAL ASSETS $ Current Liabilities GST Collected Less GST Paid Accounts Payable Control $ $ $ $ $ $ $ $ $ Non-current Liabilities Loan - The Bank $ TOTAL LIABILITIES $ NET ASSETS $ OWNERS' EQUITY Capital $ Net Profit (From Income Statement) $ $ APPENDIX A RECEIPT Jolly Amusements 222 No. Date 21/01/2018 Received from Gumby Football Club Amount in words Eight hundred and thirty Fifty Dollars Cents $ For payment of Invoice 1259 X Received by RECEIPT C Clown Jolly Amusements 830.50 Cash Cheque Other 223 No. Date 22/01/2018 Received from Cash Amount in words Four hundred and forty Nil Dollars Cents For payment of Sales (Including GST $40) Received by RECEIPT $ X C Clown Jolly Amusements 440.00 Cash Cheque Other 224 No. Date 29/01/2018 Received from S Smith Amount in words One hundred and sixty nine Forty Dollars Cents $ For payment of X Received by C Clown 169.40 Cash Cheque Other RECEIPT Jolly Amusements 225 No. Date 29/01/2018 Received from Cash Amount in words Four hundred and fifteen Nil Dollars Cents For payment of Sales (Including GST $35) Received by RECEIPT $ X C Clown Jolly Amusements 415.00 Cash Cheque Other 226 No. Date 30/01/2018 Received from Cash Amount in words Two thousand Nil Dollars Cents For payment of Capital contributed by owner Received by RECEIPT $ X C Clown Jolly Amusements 2000.00 Cash Cheque Other 227 No. Date 31/01/2018 Received from Cash Amount in words One thousand three hundred and sixty six Nil For payment of Sales (Including GST $121) Received by C Clown Dollars Cents $ X 1366.00 Cash Cheque Other Jolly Amusements General Ledger Subsidiary Ledgers Cash at bank Date Details 1/1/2018 Opening Balance 100 Folio Debit Credit Sales Balance 26,234.68 DR Date 400 Details Folio Debit Credit JOLLY AMUSEMENTS Trial Balance at 31/1/18 Accounts Receivable Subsidiary Ledger Balance Allen's Accounting Date Details Accounts Payable Subsidiary Ledger Folio 1-2001 Credit Debit Balance Opening balance (Invoice 1/1/2018 date 18/12/17) Accounts Receivable Control Date Details 1/1/2018 Opening Balance Folio 2-2001 Credit Debit Balance 540.00 DR 110 Folio Debit Credit Balance 1,410.00 DR Rent Received Date Details 455 Folio Debit Credit Clear Springs Balance GDT Pty Ltd Date Motor Vehicles at Cost Date Details Allen's Confection Date Details 1-2012 Details Folio Debit Date Credit 2-2013 Details Folio Debit Credit Balance Opening balance (Invoice 1/1/2018 dated 24/12/17) Balance 155.00 CR 170 Folio Debit Credit Balance Interest Received Date Details 460 Folio Debit Credit Balance Goodfields SHS Date Details Folio 1-2014 Credit Debit Coca Cola Date Balance Details Folio 2-2014 Credit Debit Account Number 100 Account Name Cash at bank 110 170 174 210 230 235 270 300 Accounts Receivable Control Motor Vehicles at Cost Equipment at Cost Accounts Payable Control GST Collected GST Paid Loan - The Bank Capital 400 Sales 455 460 465 475 500 602 650 670 Rent Received Interest Received Discount Received Late Fee Revenue Purchases/COGS Bank Charges Telephone Wages JOLLY AMUSEMENTS Income Statement for the period ended 31 January 2018 DR Revenue Equipment at Cost Date Details 1/1/2018 Opening Balance 174 Folio Debit Credit 465 Folio Debit Credit Balance Balance 12,870.00 DR Gumby's Footy Club Date Folio 1-2018 Credit Debit Donaldson's Dairy Date Details Folio 2-2020 Credit Debit 124.00 CR Late Fee Revenue Date Details 210 Debit Credit 475 Folio Debit Credit Balance Balance Solid Solutions Pty Ltd Date Details Folio 1-2025 Credit Debit $ $ $ $ Balance as per cash at bank a/c Folio - $ $ $ $ Balance Opening balance (Invoice 1/1/2018 dated 28/12/17) Accounts Payable Control Date Details 1/1/2018 Opening Balance - Less Unpresented cheques Balance Balance $ $ $ $ Less Operating Expenses Bank Charges Telephone Wages $ $ $ $ $ Purchases/COGS Date Details Details Folio 2-2040 Credit Debit Folio Debit Credit Balance S Smith Date Details Folio 1-2026 Credit Debit Balance 230 Folio Debit Credit Balance 783.00 CR Bank Charges Date Details 602 Folio Debit Credit Balance Trendy Tricks Pty Ltd Date Details Folio 1-2030 Credit Debit Folio 2-2018 Credit Debit Balance Balance Opening balance (Invoice 1/1/2018 date 05/12/17) 870.00 DR 235 Folio Debit Credit Balance 521.30 DR Telephone Date 650 Details Folio Debit Credit Balance Account Receivable Reconciliation 31 January 2018 Account Name Total Due Account Number Current 0 - 30 days 31 - 60 Days 61 - 90 Days 90+ days Account Payable Reconciliation 31 January 2018 Account Name Total Due Account Number Current 0 - 30 days 31 - 60 Days 61 - 90 Days 90+ days 270 Folio Debit Credit Balance 17,439.50 CR Wages Date 670 Details Folio Debit Credit Balance Grand Total Balance per GL Capital Date Details 1/1/2018 Opening Balance $ Current Assets Cash at bank Accounts Receivable Control Non-current Assets Motor Vehicles at Cost Equipment at Cost TOTAL ASSETS Current Liabilities GST Collected Less GST Paid Accounts Payable Control $ $ $ $ $ $ $ $ $ $ $ $ Non-current Liabilities Loan - The Bank TOTAL LIABILITIES $ $ NET ASSETS $ Balance 500 John Deere Date Details Loan - The Bank Date Details 1/1/2018 Opening Balance $ JOLLY AMUSEMENTS Balance Sheet as at 31 January 2018 OWNERS' EQUITY Capital Net Profit (From Income Statement) GST Paid Date Details 1/1/2018 Opening Balance $ 279.00 CR Smart Golf Date GST Collected Date Details 1/1/2018 Opening Balance $ $ $ NET PROFIT Balance Bank Reconciliation as at 31/1/18 Balance as per bank statement Plus outstanding deposits Sales Revenue Less COGS GROSS PROFIT Add Other Revenue Rent Received Interest Received Discount Received Late Fee Revenue $ Total Discount Received Date Details CR 300 Folio Debit Credit 0.00 0.00 0.00 0.00 0.00 Grand Total Balance as per GL 0.00 Balance 22,534.48 CR 0.00 0.00 1 Ledgers & Reports Templates 0.00 0.00 0.00 0.00 $ $ $