June

1 The owner opened a bank account for the business with a deposit of $22,000. This is the capital provided by him.

1 Purchased display stands, shelving etc. (shop equipment) from Shop Displays Pty Ltd for $26,800 and computer equipment for the shop from Computer Wizards for $4,600. These were paid for with a loan of $27,000 from the bank and cheque for $4,400 from the business bank account. The bank loan is repayable for over 4 years.

1 Paid $3,950 for a 1-year insurance policy covering fire, theft, and public liability.

2 Purchased inventory (skateboards and protective gear) from Excitement Plus for $20,200 on terms on net 30.

5 Cash purchase of postage stamps and stationery from Australia Post for $360.

7 Purchased surfboards and wetsuits from Surf Imports for $18,280 on terms of 10/10, n/30. 8 Paid $1,500 to Local Newspapers for advertising for the shop for the month.

8 Paid Surf Imports the amount owing to them less the prompt payment discount.

11 Credit sale to Surfing World of various inventory items for $7,110 (cost of sales $3,630). Terms net 30.

12 Credit sale to Academy Diving School of 17 wetsuits at a discounted price of $220 each on terms of net 15. Cost of sales $2,400.

13 Credit sale to Serious Fun of skateboards and protective gear for $4,200 (cost of sales $2,300). This customer was given terms of 5/10, n/30. 14 Cash sale of a skateboard and protective gear for $440 (cost of sales $240).

18 Received a cheque from Serious Fun for the amount owing by them after deducting the prompt payment discount.

23 Cash sale of inventory to the value of $980 (cost of sales $390). 24 Issued an adjustment note (credit note) to Academy Diving School for 3 wetsuits at $220 each that was not the size they required. The cost of the wetsuits to us was $360 and they were put back into inventory.

25 Paid Excitement Plus $4,800 of the amount owing to them. 26 Credit sale to Serious Fun of skateboards for $7,500 (cost of sales $3,000). Terms 5/10, n/30.

27 Purchased wetsuits from Surf Imports for $7,100 on terms of 10/10, n/30.

27 Received and banked a cheque from Academy Diving School for the amount owing by them. 30 Paid Energy Australia $170 for electricity expenses.

30 The owner cashed a cheque for $1,850 to pay wages to Scott Walker the sales assistant of $860 less PAYG Withholding of $30, and $1,020 drawings for himself.

Skate 'n' Surf Trial balance as at 30 June 20XX ?