Manually record the transactions through the general journal and general ledger, prepare balance day adjustments, closing entries, financial statements and a worksheet.
you must include the following: 10-column worksheet and manual financial statements (properly classified income statement and balance sheet)
Proprietor: Dr. Furball Fixer Name: Best Friends Vet Clinic Description: Animal Surgery 9 3,223 The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Medical Equipment Office Supplies Medical Supplies Capital $17,413 $21,691 $33,594 $8,662 $23,029 $38,822 $611 $1,752 Additional Information: Bank loan interest rates % per year) Motor vehicle useful life (years) Motor vehicle serap value ($) Insurance paid for (months) Medical equipment useful life (years) Medical equipment scrap value ($) Closing stock of office supplies on 30/6 ($) Closing stock of medical supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 2,455 581 1,680 ? Amount $319 $935 $573 Transactions: Date Description 1-Jun Purchase medical supplies - Cash 2-Jun Advertising Expense - Cash 3-Jun Payment to Account Payable 4-Jun Purchase medical supplies - Account 5-Jun Pet consultation - Account 8-Jun Payment to Account Payable 9-Jun Pet consultation - Account 13-Jun Desexing - Cash 16-Jun Pet consultation - Cash 19-Jun Sundry Expenses 23-Jun Additional cash contributed by owner 26-Jun Vaccination - Account 27-Jun Pet consultation - Cash 29-Jun Staff Wages $646 $1,428 $798 $1,071 $2,109 $2,048 $569 $2,831 $1,154 $1,513 $2,365 Date Description 1-Jun Paid General Insurance 2-Jun Purchase office supplies - Account 3-Jun Rent of Business Premises 4-Jun Motor Vehicle Expenses 7-Jun Desexing - Cash 9-Jun Vaccination - Account 10-Jun Receive Payment from Account Customers 15-Jun Staff Wages 17-Jun Cash Withdrawals by Owner 21-Jun Receive Payment from Account Customers 24-Jun Vaccination - Cash 27-Jun Vaccination - Cash 28-Jun Advertising Expense - Account Amount $2,505 $880 $3,848 $577 $2,162 $1,041 $1,731 $2,365 $837 $1,827 $1,007 $1,283 $1,283 Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely pet consultation, vaccination and desexing fees. All revenues relate to the month of June. - Transactions involve cash unless specified as "Account'. - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar
