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How to do this exercise 5.5? 96 VCE Accounting: Units 3 and 4 Exercise 5.5: A ing account balances existed: bount alaneiee Ate rsety of

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96 VCE Accounting: Units 3 and 4 Exercise 5.5: A ing account balances existed: bount alaneiee Ate rsety of mechanical parts On 1 June 205 Cash at bank $8 000, Debtor-City Cabs $500, Stock control $22 000, Creditor -Auto Spares Co. $2 000, Capital- $28 500 The following transactions occurred during June 2005 Jun 2 Paid rent for the month $4 000 (Chq. 3026) Received $100 for a cash sale (cost of sale S60 Rec. 172) Purchased spare parts for cash $150 Received $200 for a cash sale (cost of sale $120) 3 4 Spare parts purchased for cash $120 5 Paid Auto Spares Co. $465 on account after receiving a discount of $25 Received $100 for a cash sale (cost price $60) 9 The proprietor withdrew $200 for personal use 10 Goods costing $250 were sold for cash $490 11 Paid for advertising in local newspaper $160 Sold a battery for $80 cash (cost price $50) 12 Received in cash $100 for goods which had cost $60 Spare parts purchased for cash $120 13 Paid weekly wages $375 16 City Cabs paid $235 on account (after deducting discount allowed $15) 17 The owner withdrew $150 18 Sold headlight protectors for cash $80 (cost of sale $40) 19 Bought stock items for cash $270 20 Paid weekly wages $375 Purchased new computer for cash $1 900 23 Received $100 from the sale of a battery (cost price $55) 24 Cash sale $120 (cost $70) 25 The owner contributed a further $4 000 cash 26 Received $90 from a cash sale (cost price $50) 27 Paid weekly wages $375 28 Purchased stock for cash $440 29 Sold goods for cash $420 (cost of sale $190 30 Paid courier fees for month $55 Design appropriate cash journals for Alessio's Auto Parts and enter the above transactions in a these journals. b Enter the opening balances in the general ledger accounts on 1 June 2005. c Post the cash journals to the general ledger accounts. d Foot the accounts as at 30 June 2005 and prepare a trial balance as at that date

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