information

Business structure: Sole Trader

Business Industry: Retailing

Start date: 1 June 2020

Start-up fund: $100,000

Ignore GST and Income tax

Use your own amounts (the amount should be multiples of $100 and the maximum of $100,000)

The business uses a periodic inventory system to account for inventory. As at 30 June 2020, 40% of the total available stock for sale remained on hand

The business made a profit during the period

Adjustments

YOU MUST USE YOUR OWN NUMBERS

Date

Transactions

Amount

2/06/2020

Neymar invested capital in her business

$100,000

3/06/2020

Received a rent bill for June 2020.

5/06/2020

Purchased an inventory from Virgil on credit; terms: 2/15, n/45.

7/06/2020

Purchased stock from on credit from Cristiano; terms: n/30.

10/06/2020

Sold merchandise to Kylian on credit; terms: 2/10, n/30.

12/06/2020

Sold for cash to walk in customer (Kevin)

15/06/2020

Sold merchandise to Sadio on credit; terms: 2/10, n/30.

17/06/2020

Customer (Sadio) returned faulty goods to Neymar

18/06/2020

Received payment for June 10 sales (Kylian), less discount.

20/06/2020

Sadio sent a cheque for the remaining invoice less discount

21/06/2020

Paid for advertisements in Facebook

22/06/2020

Purchased merchandise from Robert on credit; terms: 2/15, n/45.

23/06/2020

Returned some goods back to Robert

25/06/2020

Received a bill for the utilities used

26/06/2020

Paid the supplier (Robert) for June 22 purchase, less discount

28/06/2020

Paid wages in cash

29/06/2020

Paid the rent bill received on 3/6/2020

30/06/2020

Neymar withdrew from the business account for personal use