i tried my best to upload visible content, hoefully you guys can see it. thanks

also, please submit as excel sheet for better seeing, thanks

i tried capture clear as much i can. i dont have any other way

here is google drive link for excel journal and ledger

https://docs.google.com/file/d/1Thr8CLfB9eNMmeXW_tP9ZPjEXfi9xHqR/edit?usp=docslist_api&filetype=msexcel

all info are provided

Practical Completion Point 2 This section of the practical is designed to allow you to compare how a basic General Journal and Ledger System operates with a system of Specialised Journals. You should be taking note of the different data entry processes and the efficiencies that can be achieved as well as any difficulties that arise with the more complex system. You have been provided with an excel file which contains the General Journal and Ledger Accounts. The necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the excel spreadsheet provided. The opening and reversing entries have been completed for you. You will be re-entering the transaction data from Completion Point 1 as well as a number of new transactions into the "new" system using specialised journals. Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Spesialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) Transactions July 1 July 2 July 4 July 6 July 8 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.10) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received 450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100, All amounts are net of GST. Their invoice No: 726. Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 cach (net of GST). July 12 July 13 July 15 Transactions continued July 16 July 16 July 19 July 20 July 20 Puid wages of $1,680 to Minnie's two part time employuca Lei Zhss and Eas Ictic Made a cash purchase of S60 stationery (nel of GST) from Little M department store Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of S275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account Sold 100 meters of premium low voltage cable to Unplugged Lad for $20 per meter (net of GST) The office supplies account of $186 was paid in fall in cash. Minnie Amin withdrew 51.050 cash for personal use. Sold 3 Smart Meters to Hotels United for 5350 cach plus a delivery few of $100 (all amounts are not of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telce for the last two months telephone and internet usage July 21 July 23 July 25 July 27 July 29 July 30 A stocktake on July 31 reveals 54 140 worth of inventory on hand and $114 of stationery on hand Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on June, 2020 Depreciation is only calculated at the end of the financial year and sono aduent are required for these accounts Task 2 Once you have completed the data entry above, you will need complete Schedules for Accounts Receivable and Accounts Payable and you will need to create a Balance Sheerdered 31 July 2020 Remember at this point occuracy of data entry is being checked, however the majority of the marks will be awarded based on the fact that transactions have been entered Submission Requirements Once you have completed the data entry in the above two tasks, you will need to upload your excel file to cooliar so they can be checked for completeness, At this point occuracy of data entry beng checked but is not the primary focus of the marti, The majority of marks are awarded to transactions have been entered by for the correct processes and reports have been properly created, is expected that students will make every effort to achieve the correct result which they can then compare to the feedback provided after are mode. Min Amim Wasteage - Completion Point 2 journals and Ledger View Insert Page Layout Formulas Data Review Calibrl (Body 11 AA - Wrap Text Date B I Merge & Center - % Xfx A B D E Reference 7/1/20 Petty Cash Imprest 91 210.00 Bank 90 3,860.00 Accounts Receivable Control 610 13,585.00 Unplugged Ltd - 726 The Charity Stores - 2310 X Developing Naturally.4455 Hotels United - 6094 Inventory on Hand 111 3,090.00 Stationery on Hand 113 130.00 Prepaid Insurance 115 1,800.00 Prepaid Rent 116 10,000.00 Equipment 140 6,400.00 Premises 150 140,000.00 Vehicle 150 23,000.00 Allowance for Bad and Doubtful Debts 611 462.00 Accumulated Depreciation - Equipment 141 1,460.00 Accumulated Depreciation - Premises 151 21,000.00 Acc. Depreciation - Vehicle 161 229.00 Accounts Payable Control 800 7,887.00 Get Connected Ltd. 4180 General Journal Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES General Ledger - IN eady B I U. Merge & Center X D E A 800 7,887.00 Accounts Payable Control Get Connected Ltd - 4180 X Reduce, Reuse, Get Rich - 1760 X Flooded Industries - 1947 x 205 186.00 Office Supplies Owing Internet and Telephone Expenses Payable Wages Expense Payable 210 481.00 220 862.00 GST 820 950.00 Big 4 Bank Mortgage Loan (5-year) 250 123,000.00 Capital - Minnie Armin 303 45,558.00 Opening Entry 202,075.00 202,075.00 7/1/20 Wages Expense Payable 220 862 505 862 Wages Expense Reversing Entry 7/1/20 Internet and Telephone Expenses Payable 210 481.00 Internet and Telephone Expenses 510 481.00 Reversing Entry 205 186 7/1/20 Office Supplies Owing 520 186 Office Supplies Expense Reversing Entry General Journal Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES G Min Armim Wasteage - Completion Point 2 - Journals and Ledgers View Layout Formulas Data Review dy) 11 A A Wrap Text General U. Merge & Center % ) Conditional Format Formatting as Table S G H 1 K L M N Date Details Posting Reference DR CR General Le General Ledger - LIABILITIES General Ledger -INCOME Journal Specialised Journals General Ledger . ASSET Calibrl Body 14 A- A- Paste Wrap Text General B 1 U - Merge Center % ) A1 X fox Cash Receipts Journal Conditional Format Cel Formatting us Tutle Styles D 1 H 2 Cash Receipts Journal 3 Date Particulars Poster Discount GST Accounts Receivable Sales GST 6 7 8 9 10 11 12 13 14 15 Cash Payments Journal 16 Particulars Post Ref Discount GST Accounts Payable GST Purchase Other Payments 17 Date 18 19 20 21 22 23 24 25 6 Home Formulas Data Review Insert Page Layout X Calibri (Body) 14 A- A Wrap Text General . % Paste B T Merge & Center U 1 fx Cash Receipts Journal G A D Sales Journal Accounts Receivable Date GST Postel Sales Particulars Freight 5 5 7 3 Sales Returns Journal Accounts Receivable Particulars Post Ref Sales Returns Freight GST 1 Date 2 3 4 5 -6 7 18 19 Purchases Journal Particulars post Ref Purcases Freight GST Accounts Payable 50 Date 31 52 53 35 56 57 58 Purchases Returns Journal Purcase Particulars Post Ref Rreth GST Accounts Payable 59 Date 60 61 62 63 64 65 66 67 68 69 70 71 72 73 F D E Petty Cash Account No. 091 POST REF GJ CREDIT (5) DEBIT ($) 210 BALANCE ($) 210 Dr DATE Jul-01 EXPLANATION Opening Entry Bank Account No. 090 POST REF GJ CREDIT ($) EXPLANATION Opening Entry DATE Jul-01 DEBIT (5) 3860 BALANCE ($) 3860 Dr Accounts Receivable Account No. 610 CREDIT ($) DATE Jul-01 POST REF GJ EXPLANATION Opening Entry DEBIT (S) 13585 BALANCE (5) 13585 Dr 3 Allowance for Bad and Doubtful Debts Account No. 611 DATE Jul-01 DEBIT.5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 462 BALANCE (5) 462 Cr 0 1 2 3 4 15 15 37 28 19 50 51 52 53 54 55 56 57 58 59 60 Inventory on Hand Account No. 111 Inventory on Hand Account No. 111 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 3090 BALANCE ($) 3090 Dr Stationery on Hand Account No. 113 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 130 BALANCE ($) 130 DI Prepaid Insurance Account No. 115 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 1800 BALANCES) 1800 Dr Prepaid Rent Account No. 116 DATE Jul-01 EXPLANATION Opening Entry POST REF GJ DEBIT (5) 10000 CREDIT (S) BALANCE(S) 10000 Dr fx T R $ U N V w O Premises Account No. 150 POST REF CREDIT($) DATE Jul-01 EXPLANATION Opening Entry DEBIT (5) 140000 BALANCE ($) 140000 Dr GJ Accumulated Depreciation - Premises Account No. 151 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT ($) 21000 BALANCE ($) 21000 Cr Vehicle Account No. 160 DATE Jul-01 CREDIT (5) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 23000 BALANCE (5) 23000 Dr Accumulated Depreciation - Vehicle Account No. 161 DATE Jul-01 DEBIT. POST REF GJ EXPLANATION Opening Entry CREDITS 229 BALANCE (5) 229 Cr Equipment Account No. 140 neral Journal POST General Ledger - ASSET General Lec Specialised Journals General Ledger - LIABILITIES B I U + Merge & Center % ) 00 fx M N o P 0 R S T U w Equipment Account No. 140 DATE Jul-01 CREDIT (5) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 6400 BALANCE (5 6400 Dr Accumulated Depreciation - Equipment Account No. 141 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 1460 BALANCE (5) 1460 Cr Account No 199 POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE 5) Account No POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Boneral Journal Specialised Journals General Ledger - ASSET General Ledge General Ledger - LIABILITIES Data Review View Formulas Home Insert Page Layout Wrap Text Arial 11 A- A Merge & Center Paste B I U- G26 K F H D Accounts Payable 1 2 3 4 Account No. 800 POST REF GJ DEBIT($) CREDIT ($) 7887 BALANCE (S) 7887 Cr Wages Expene Payable Account No. 220 POST REF GJ DEBIT (5) CREDIT (S) 862 BALANCE ($) 862 Cr GJ 862 5 DATE EXPLANATION 7 Jul-01 Opening Entry 8 9 10 11 12 13 14 15 16 17 18 19 20 DATE EXPLANATION 21 Jul-01 Opening Entry 22 Jul-01 Wages Expense 23 24 25 26 27 28 29 30 31 32 33 34 DATE EXPLANATION 35 Jul-01 Opening Entry 36 Jul-01 Telephone Expense 37 38 39 40 Internet and Telephone Expenses Payable Account No. 210 DEBIT (5) POST REF GJ GJ CREDITS 481 BALANCE(S) 481 C 481 Account No DATE EXPLANATION POST REF DEBIT (5) CREDIT (5) BALANCE 5) 44 45 46 42 48 49 53 51 52 53 54 55 Q P R s T 0 U V W Office Supplies Owing Account No. 205 DEBIT (5) ATE Jul-01 Jul-01 POST REF GJ GJ CREDIT ($) 186 BALANCE ($) 186C EXPLANATION Opening Entry Expense Payable Expense 186 GST Account No. 820 ATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Opening Entry CREDIT($) 950 BALANCE ($) 950 Cr Big 4 Bank Mortgage Loan Account No. 250 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 123000 BALANCE (5) 123000 C Account No DATE POST REF EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES General Ledger Review Q- Search She View BWrap Text Text Insert M + Merge & Center 96 * Delete Conditional Format Cell Formatting Table Styles Format M 0 R $ T U V w X Account No DATE EXPLANATION POST REF DEBIT (S) CREDIT (5) BALANCE (5) Account No. DATE POST REF EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Account No POST REF DATE EXPLANATION DEBIT CREDIT (5) BALANCE (5) Account No. POST REE DATE EXPLANATION DEBIT (52 CREDIT (3) BALANCE 5 Gone General edger -INCOME General Ledger - EXPENSES General Ledger - ASSET General Ledger - LIABILITIES IEE 1 fx D E F H B c G 1 2 PURCHASES Account No. POST REF EXPLANATION DATE DEBIT($) CREDIT (S) BALANCE (5) 1 2 3 Freight Inwards Account No 5 6 7. 8 -9 0 1 22 23 24 25 POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) 27 28 29 30 31 32 Account No. POST REF DATE EXPLANATION DEBIT (5) CREDITS) BALANCE(S) 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 Account No DATE EXPLANATION POST REF DEBIT (5) CREDITS) BALANCE 5) Wages Expense Account No. 505 DEBIT (S) TE POST REF GJ EXPLANATION Wages Expense Payable CREDIT (S) 862 BALANCE ($) 862 CI Jul-01 Intemot and Telephone Expenses Account No. 510 DEBIT (5) POST REF GJ DATE Jul-01 CREDIT (5) EXPLANATION Intemet and Telephone Expenses Payable BALANCE (5) 4811C 481 Office Supplies Expense Account No 520 POST REF GJ DEBIT (5) DATE Jul-01 EXPLANATION Office Supplies Owing CREDIT (5) 186 BALANCE (5) 186 Cr Account No. POST REF CREDIT (5) DATE DEBIT (5) BALANCE 5 EXPLANATION General Ledger urnal Specialised Journals General Ledger - LIABILITIES General Ledger - ASSET EQUITY - Minnie Armim Account No. 900 POST REF ATE EXPLANATION DEBIT (S) CREDIT (5) BALANCE (5) Jul-01 OPENING ENTRY GJ 45558 45558.00C Account No. POST REF DATE EXPLANATION DEBIT (S) CREDIT (5) BALANCE (5) 3 5 7 9 Specialised Journals General Les General Ledger - ASSET General Ledger - LIABILITIES Body DI 14 B Practical Completion Point 2 This section of the practical is designed to allow you to compare how a basic General Journal and Ledger System operates with a system of Specialised Journals. You should be taking note of the different data entry processes and the efficiencies that can be achieved as well as any difficulties that arise with the more complex system. You have been provided with an excel file which contains the General Journal and Ledger Accounts. The necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the excel spreadsheet provided. The opening and reversing entries have been completed for you. You will be re-entering the transaction data from Completion Point 1 as well as a number of new transactions into the "new" system using specialised journals. Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Specialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) July 2 July 6 Transactions July 1 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. July 4 Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of S194.7 (including GST of $17.70) was received for early payment Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. July 13 Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. July 15 Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). July 8 July 12 Transactions continued July 16 July 16 Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jclic Made a cash purchase of $60 stationery (net of GST) from Little M department store Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries July 19 July 20 July 20 July 21 July 23 July 25 July 27 Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of S1166 being full settlement of their account Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Amnim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including S40 GST) to The Big Telco for the last two months telephone and internet usage. July 29 July 30 A stocktake on July 31 reveals 54 140 worth of inventory on hand and $114 of stationery on hand Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts. Task 2 Once you have completed the data entry above, you will need complete Schedules for Accounts Receivable and Accounts Payable and you will need to create a Balance Sheet dated 31 July 2020. Remember of this point accuracy of data entry is being checked, however the majority of the marks will be awarded based on the fact that all transactions have been entered, Submission Requirements Once you have completed the data entry in the above two tasks, you will need to upload your excel file to leacoaglios, so they can be checked for completeness. At this point accuracy of data entry is being checked but is not the primary focus of the marking. The majority of marks are warded if all transactions have been entered by following the correct Practical Completion Point 2 This section of the practical is designed to allow you to compare how a basic General Journal and Ledger System operates with a system of Specialised Journals. You should be taking note of the different data entry processes and the efficiencies that can be achieved as well as any difficulties that arise with the more complex system. You have been provided with an excel file which contains the General Journal and Ledger Accounts. The necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the excel spreadsheet provided. The opening and reversing entries have been completed for you. You will be re-entering the transaction data from Completion Point 1 as well as a number of new transactions into the "new" system using specialised journals. Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Spesialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) Transactions July 1 July 2 July 4 July 6 July 8 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of $194.7 (including GST of $17.10) was received for early payment. Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received 450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100, All amounts are net of GST. Their invoice No: 726. Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 cach (net of GST). July 12 July 13 July 15 Transactions continued July 16 July 16 July 19 July 20 July 20 Puid wages of $1,680 to Minnie's two part time employuca Lei Zhss and Eas Ictic Made a cash purchase of S60 stationery (nel of GST) from Little M department store Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries. Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of S275 (including GST) Received a cheque from Unplugged Ltd of $1166 being full settlement of their account Sold 100 meters of premium low voltage cable to Unplugged Lad for $20 per meter (net of GST) The office supplies account of $186 was paid in fall in cash. Minnie Amin withdrew 51.050 cash for personal use. Sold 3 Smart Meters to Hotels United for 5350 cach plus a delivery few of $100 (all amounts are not of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including $40 GST) to The Big Telce for the last two months telephone and internet usage July 21 July 23 July 25 July 27 July 29 July 30 A stocktake on July 31 reveals 54 140 worth of inventory on hand and $114 of stationery on hand Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on June, 2020 Depreciation is only calculated at the end of the financial year and sono aduent are required for these accounts Task 2 Once you have completed the data entry above, you will need complete Schedules for Accounts Receivable and Accounts Payable and you will need to create a Balance Sheerdered 31 July 2020 Remember at this point occuracy of data entry is being checked, however the majority of the marks will be awarded based on the fact that transactions have been entered Submission Requirements Once you have completed the data entry in the above two tasks, you will need to upload your excel file to cooliar so they can be checked for completeness, At this point occuracy of data entry beng checked but is not the primary focus of the marti, The majority of marks are awarded to transactions have been entered by for the correct processes and reports have been properly created, is expected that students will make every effort to achieve the correct result which they can then compare to the feedback provided after are mode. Min Amim Wasteage - Completion Point 2 journals and Ledger View Insert Page Layout Formulas Data Review Calibrl (Body 11 AA - Wrap Text Date B I Merge & Center - % Xfx A B D E Reference 7/1/20 Petty Cash Imprest 91 210.00 Bank 90 3,860.00 Accounts Receivable Control 610 13,585.00 Unplugged Ltd - 726 The Charity Stores - 2310 X Developing Naturally.4455 Hotels United - 6094 Inventory on Hand 111 3,090.00 Stationery on Hand 113 130.00 Prepaid Insurance 115 1,800.00 Prepaid Rent 116 10,000.00 Equipment 140 6,400.00 Premises 150 140,000.00 Vehicle 150 23,000.00 Allowance for Bad and Doubtful Debts 611 462.00 Accumulated Depreciation - Equipment 141 1,460.00 Accumulated Depreciation - Premises 151 21,000.00 Acc. Depreciation - Vehicle 161 229.00 Accounts Payable Control 800 7,887.00 Get Connected Ltd. 4180 General Journal Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES General Ledger - IN eady B I U. Merge & Center X D E A 800 7,887.00 Accounts Payable Control Get Connected Ltd - 4180 X Reduce, Reuse, Get Rich - 1760 X Flooded Industries - 1947 x 205 186.00 Office Supplies Owing Internet and Telephone Expenses Payable Wages Expense Payable 210 481.00 220 862.00 GST 820 950.00 Big 4 Bank Mortgage Loan (5-year) 250 123,000.00 Capital - Minnie Armin 303 45,558.00 Opening Entry 202,075.00 202,075.00 7/1/20 Wages Expense Payable 220 862 505 862 Wages Expense Reversing Entry 7/1/20 Internet and Telephone Expenses Payable 210 481.00 Internet and Telephone Expenses 510 481.00 Reversing Entry 205 186 7/1/20 Office Supplies Owing 520 186 Office Supplies Expense Reversing Entry General Journal Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES G Min Armim Wasteage - Completion Point 2 - Journals and Ledgers View Layout Formulas Data Review dy) 11 A A Wrap Text General U. Merge & Center % ) Conditional Format Formatting as Table S G H 1 K L M N Date Details Posting Reference DR CR General Le General Ledger - LIABILITIES General Ledger -INCOME Journal Specialised Journals General Ledger . ASSET Calibrl Body 14 A- A- Paste Wrap Text General B 1 U - Merge Center % ) A1 X fox Cash Receipts Journal Conditional Format Cel Formatting us Tutle Styles D 1 H 2 Cash Receipts Journal 3 Date Particulars Poster Discount GST Accounts Receivable Sales GST 6 7 8 9 10 11 12 13 14 15 Cash Payments Journal 16 Particulars Post Ref Discount GST Accounts Payable GST Purchase Other Payments 17 Date 18 19 20 21 22 23 24 25 6 Home Formulas Data Review Insert Page Layout X Calibri (Body) 14 A- A Wrap Text General . % Paste B T Merge & Center U 1 fx Cash Receipts Journal G A D Sales Journal Accounts Receivable Date GST Postel Sales Particulars Freight 5 5 7 3 Sales Returns Journal Accounts Receivable Particulars Post Ref Sales Returns Freight GST 1 Date 2 3 4 5 -6 7 18 19 Purchases Journal Particulars post Ref Purcases Freight GST Accounts Payable 50 Date 31 52 53 35 56 57 58 Purchases Returns Journal Purcase Particulars Post Ref Rreth GST Accounts Payable 59 Date 60 61 62 63 64 65 66 67 68 69 70 71 72 73 F D E Petty Cash Account No. 091 POST REF GJ CREDIT (5) DEBIT ($) 210 BALANCE ($) 210 Dr DATE Jul-01 EXPLANATION Opening Entry Bank Account No. 090 POST REF GJ CREDIT ($) EXPLANATION Opening Entry DATE Jul-01 DEBIT (5) 3860 BALANCE ($) 3860 Dr Accounts Receivable Account No. 610 CREDIT ($) DATE Jul-01 POST REF GJ EXPLANATION Opening Entry DEBIT (S) 13585 BALANCE (5) 13585 Dr 3 Allowance for Bad and Doubtful Debts Account No. 611 DATE Jul-01 DEBIT.5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 462 BALANCE (5) 462 Cr 0 1 2 3 4 15 15 37 28 19 50 51 52 53 54 55 56 57 58 59 60 Inventory on Hand Account No. 111 Inventory on Hand Account No. 111 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 3090 BALANCE ($) 3090 Dr Stationery on Hand Account No. 113 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 130 BALANCE ($) 130 DI Prepaid Insurance Account No. 115 DATE Jul-01 CREDIT (S) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 1800 BALANCES) 1800 Dr Prepaid Rent Account No. 116 DATE Jul-01 EXPLANATION Opening Entry POST REF GJ DEBIT (5) 10000 CREDIT (S) BALANCE(S) 10000 Dr fx T R $ U N V w O Premises Account No. 150 POST REF CREDIT($) DATE Jul-01 EXPLANATION Opening Entry DEBIT (5) 140000 BALANCE ($) 140000 Dr GJ Accumulated Depreciation - Premises Account No. 151 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT ($) 21000 BALANCE ($) 21000 Cr Vehicle Account No. 160 DATE Jul-01 CREDIT (5) POST REF GJ EXPLANATION Opening Entry DEBIT (5) 23000 BALANCE (5) 23000 Dr Accumulated Depreciation - Vehicle Account No. 161 DATE Jul-01 DEBIT. POST REF GJ EXPLANATION Opening Entry CREDITS 229 BALANCE (5) 229 Cr Equipment Account No. 140 neral Journal POST General Ledger - ASSET General Lec Specialised Journals General Ledger - LIABILITIES B I U + Merge & Center % ) 00 fx M N o P 0 R S T U w Equipment Account No. 140 DATE Jul-01 CREDIT (5) POST REF GJ EXPLANATION Opening Entry DEBIT ($) 6400 BALANCE (5 6400 Dr Accumulated Depreciation - Equipment Account No. 141 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 1460 BALANCE (5) 1460 Cr Account No 199 POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE 5) Account No POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Boneral Journal Specialised Journals General Ledger - ASSET General Ledge General Ledger - LIABILITIES Data Review View Formulas Home Insert Page Layout Wrap Text Arial 11 A- A Merge & Center Paste B I U- G26 K F H D Accounts Payable 1 2 3 4 Account No. 800 POST REF GJ DEBIT($) CREDIT ($) 7887 BALANCE (S) 7887 Cr Wages Expene Payable Account No. 220 POST REF GJ DEBIT (5) CREDIT (S) 862 BALANCE ($) 862 Cr GJ 862 5 DATE EXPLANATION 7 Jul-01 Opening Entry 8 9 10 11 12 13 14 15 16 17 18 19 20 DATE EXPLANATION 21 Jul-01 Opening Entry 22 Jul-01 Wages Expense 23 24 25 26 27 28 29 30 31 32 33 34 DATE EXPLANATION 35 Jul-01 Opening Entry 36 Jul-01 Telephone Expense 37 38 39 40 Internet and Telephone Expenses Payable Account No. 210 DEBIT (5) POST REF GJ GJ CREDITS 481 BALANCE(S) 481 C 481 Account No DATE EXPLANATION POST REF DEBIT (5) CREDIT (5) BALANCE 5) 44 45 46 42 48 49 53 51 52 53 54 55 Q P R s T 0 U V W Office Supplies Owing Account No. 205 DEBIT (5) ATE Jul-01 Jul-01 POST REF GJ GJ CREDIT ($) 186 BALANCE ($) 186C EXPLANATION Opening Entry Expense Payable Expense 186 GST Account No. 820 ATE Jul-01 DEBIT ($) POST REF GJ EXPLANATION Opening Entry CREDIT($) 950 BALANCE ($) 950 Cr Big 4 Bank Mortgage Loan Account No. 250 DATE Jul-01 DEBIT (5) POST REF GJ EXPLANATION Opening Entry CREDIT (5) 123000 BALANCE (5) 123000 C Account No DATE POST REF EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Specialised Journals General Ledger - ASSET General Ledger - LIABILITIES General Ledger Review Q- Search She View BWrap Text Text Insert M + Merge & Center 96 * Delete Conditional Format Cell Formatting Table Styles Format M 0 R $ T U V w X Account No DATE EXPLANATION POST REF DEBIT (S) CREDIT (5) BALANCE (5) Account No. DATE POST REF EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) Account No POST REF DATE EXPLANATION DEBIT CREDIT (5) BALANCE (5) Account No. POST REE DATE EXPLANATION DEBIT (52 CREDIT (3) BALANCE 5 Gone General edger -INCOME General Ledger - EXPENSES General Ledger - ASSET General Ledger - LIABILITIES IEE 1 fx D E F H B c G 1 2 PURCHASES Account No. POST REF EXPLANATION DATE DEBIT($) CREDIT (S) BALANCE (5) 1 2 3 Freight Inwards Account No 5 6 7. 8 -9 0 1 22 23 24 25 POST REF DATE EXPLANATION DEBIT (5) CREDIT (5) BALANCE (5) 27 28 29 30 31 32 Account No. POST REF DATE EXPLANATION DEBIT (5) CREDITS) BALANCE(S) 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 Account No DATE EXPLANATION POST REF DEBIT (5) CREDITS) BALANCE 5) Wages Expense Account No. 505 DEBIT (S) TE POST REF GJ EXPLANATION Wages Expense Payable CREDIT (S) 862 BALANCE ($) 862 CI Jul-01 Intemot and Telephone Expenses Account No. 510 DEBIT (5) POST REF GJ DATE Jul-01 CREDIT (5) EXPLANATION Intemet and Telephone Expenses Payable BALANCE (5) 4811C 481 Office Supplies Expense Account No 520 POST REF GJ DEBIT (5) DATE Jul-01 EXPLANATION Office Supplies Owing CREDIT (5) 186 BALANCE (5) 186 Cr Account No. POST REF CREDIT (5) DATE DEBIT (5) BALANCE 5 EXPLANATION General Ledger urnal Specialised Journals General Ledger - LIABILITIES General Ledger - ASSET EQUITY - Minnie Armim Account No. 900 POST REF ATE EXPLANATION DEBIT (S) CREDIT (5) BALANCE (5) Jul-01 OPENING ENTRY GJ 45558 45558.00C Account No. POST REF DATE EXPLANATION DEBIT (S) CREDIT (5) BALANCE (5) 3 5 7 9 Specialised Journals General Les General Ledger - ASSET General Ledger - LIABILITIES Body DI 14 B Practical Completion Point 2 This section of the practical is designed to allow you to compare how a basic General Journal and Ledger System operates with a system of Specialised Journals. You should be taking note of the different data entry processes and the efficiencies that can be achieved as well as any difficulties that arise with the more complex system. You have been provided with an excel file which contains the General Journal and Ledger Accounts. The necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the excel spreadsheet provided. The opening and reversing entries have been completed for you. You will be re-entering the transaction data from Completion Point 1 as well as a number of new transactions into the "new" system using specialised journals. Task 1 Using the excel file provided for Completion Point 2 you must enter the transactions below into the Specialised Journals and then update the Ledger accounts as required. (The transactions below include previous transactions that you have completed using only the General Journal and a number of new transactions) July 2 July 6 Transactions July 1 Sold 40 Energy Saving light globes on credit to Unplugged Ltd for $440 (including GST). Received a cheque for $2475 from Developing Naturally as part payment of their account. July 4 Sold 2 Smart Meters to The Charity Stores for $350 each plus a $50 delivery fee (all amounts are net of GST) Issued Cheque number 718 to Flooded Industries. The cheque amount was $1752.30 and a discount of S194.7 (including GST of $17.70) was received for early payment Purchased 200 metres of premium low voltage cabling from Get Connected for $4 per metre, plus a freight charge of $50 and total GST of $85. Received $450 cash (net of GST) from Ms Elvia Marks for a full house inspection and energy usage report. July 13 Purchased 500 Energy Saving light globes for $3 each from Get Connected Ltd. The delivery charge was $100. All amounts are net of GST. Their invoice No: 726. July 15 Cash Sale of 12 Energy Saving light globes to Ms Christa Heathers for $10 each (net of GST). July 8 July 12 Transactions continued July 16 July 16 Paid wages of $1,680 to Minnie's two part time employees Lei Zhee and Ena Jclic Made a cash purchase of $60 stationery (net of GST) from Little M department store Purchased 15 LED Lighting Kits for a total of $330 (GST inclusive) from Flooded Industries July 19 July 20 July 20 July 21 July 23 July 25 July 27 Cash Sale to Mr D Rock of 5 LED Lighting Kits for a total of $275 (including GST) Received a cheque from Unplugged Ltd of S1166 being full settlement of their account Sold 100 meters of premium low voltage cable to Unplugged Ltd for $20 per meter (net of GST) The office supplies account of $186 was paid in full in cash. Minnie Amnim withdrew $1,050 cash for personal use. Sold 3 Smart Meters to Hotels United for $350 each plus a delivery fee of $100 (all amounts are net of GST) Paid all amounts owing to Reduce, Reuse, Get Rich. Made a cash payment of $921 (including S40 GST) to The Big Telco for the last two months telephone and internet usage. July 29 July 30 A stocktake on July 31 reveals 54 140 worth of inventory on hand and $114 of stationery on hand Prepaid insurance was paid for 3 months in advance on June 30, 2020. Prepaid rent was paid for 6 months in advance on 1 June, 2020. Depreciation is only calculated at the end of the financial year and so no adjustments are required for these accounts. Task 2 Once you have completed the data entry above, you will need complete Schedules for Accounts Receivable and Accounts Payable and you will need to create a Balance Sheet dated 31 July 2020. Remember of this point accuracy of data entry is being checked, however the majority of the marks will be awarded based on the fact that all transactions have been entered, Submission Requirements Once you have completed the data entry in the above two tasks, you will need to upload your excel file to leacoaglios, so they can be checked for completeness. At this point accuracy of data entry is being checked but is not the primary focus of the marking. The majority of marks are warded if all transactions have been entered by following the correct