Mario's Pizza Palace Adjusted trial balance as at 30 June 20XX Account number Credit 100 110 Debit 40,813 450 120 688 130 140 150 1,357 969 328 1,440 19,160 160 170 171 16,257 180 35,360 181 Account Cash Cash float Accounts receivable Inventory - food Inventory - packaging Prepaid advertising Prepaid insurance Motor vehicles (cost) Accumulated depreciation motor vehicles Store equipment (cost) Accumulated depreciation store equipment Accounts payable PAYG withholding payable Superannuation payable Wages payable Bank loan Owner's capital Owner's drawings Sales income Sales returns and allowances Discounts received Delivery income Food purchases 200 210 220 15,216 14,180 1,344 257 1,322 19,142 55,273 230 280 300 310 39,121 400 186,927 410 46 420 430 505 28 500 63,220 63,220 500 510 520 418 530 540 600 605 610 615 620 Food purchases Purchase returns and allowances Packaging costs Discount given Freight inwards Accountancy fees Advertising expense Bank charges Depreciation Electricity and gas expense Insurance expense Interest expense Motor vehicles expense Printing, postage and stationery expense Rent expense Repairs and maintenance expense Sundry expenses Superannuation expense Telephone expense Wages expense 625 630 13,039 265 83 1,133 3,917 761 7,368 2,886 2,783 1,106 5,334 437 24,791 681 352 3,489 4,132 35,360 310,869 635 640 645 650 655 660 665 670 310,869 Using the adjusted trial balance above, complete the general journal entries to close off the accounts for the end of the reporting period, post to and balance the general ledger accounts. (Note: Enter accounts in ascending account number order according to the chart of accounts.) Description Post ref. Debit Date 20XX Credit June 30 $ Sales income 400 186,927 Discounts received 420 505 Delivery income 430 28 190460 Profit or loss summary (Close income accounts to profit or loss summary) 30 + Purchase returns and allov 510 418 Inventory - food 130 1,357 Inventory - packaging 140 969 2744 Profit or loss summary (Close purchase returns and record closing inventory to profit or loss summary) + 30 4 Profit or loss summary Inventory - food 130 1,357 Inventory - packaging 140 969 Food purchases 500 63,220 Packaging costs 520 13,039 Discount given 530 265 Freight inwards 540 83 Accountancy fees 600 1,133 Advertising expense 605 3,917 Bank charges 6104 761 Depreciation 615 7,368 Electricity and gas expe 620 2,886 Insurance expense 625 2,783 Interest expense 630 1,106 Motor vehicles expense 635 5,334 Printing, postage and s 640 437 Rent expense 645 24,791 Repairs and maintenan 650 - 681 Sundry expenses 655 352 Superannuation expens 660 3,489 Telephone expense 665 4,132 Wages expense 670 35,360 (Close opening inventory accounts and expenses to profit or loss summary) 30 Owner's capital 300 55,273 55,273 Profit or loss summary (Transfer profit or loss summary to owner's capital) 30 A Owner's capital 300 55,273 Profit or loss summary 55,273 (Transfer profit or loss summary to owner's capital) 30 Owner's capital 39,121 Owner's drawings 310 4 39,121 (Close owner's drawings to owner's capital) (Leave blank any fields that do not require an entry. For example, if there are rows in both the debit and credit sides, but only an entry in the debit side is required, leave the credit side blank.) Date Details Post ref. Debit Date Detalls Credit Post ref. CP312 June 1 Balance 32,585 June 30 20,732 30 Payments Balance 12,504 40,813 30 Receipts CRU14 c/d July 1 Balance b/d Cash float No. 110 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 450 Accounts receivable No. 120 Date Details Post ref. Debit Date Detalls Credit Post ref. CRU14 June 1 Balance 710 June 30 Cash 2,690 30 Sales income/Delivery income SJ10 2,668 30 Balance cd Balance b/d July 1 Inventory - food No. 130 Date Details Debit Date Details Post ref. Credit June 1 Balance 1,357 June + SJ10 PJ11 CPJ12 CRJ14 GJ21 b/d c/d + + . July + July + + Inventory - packaging No. 140 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 969 June + + + July + July + . Prepaid advertising No. 150 Date Detalls Post ref. Debit Date Credit Details Advertising expense Post ref. GJ20 June 1 Balance 656 June 30 328 July + July Prepaid insurance No. 160 Date Details Post ref. Debit Date Details Credit Post ref. GJ20 June 1 Balance 2,160 June 30 Insurance expense 720 + July + July + Motor vehicles (cost) No. 170 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 19,160 Accumulated depreciation - motor vehicles No. 171 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 12,425 3,832 30 Depreciation GJ20 Store equipment (cost) No. 180 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 35,360 Accumulated depreciation - store equipment No. 181 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 11,680 3,536 30 Depreciation GJ20 Accounts payable No. 200 Date Details Debit Date Details Post ref. Credit June 15 30 Purchase returns and allowances Cash Post ref. GJ20 CP)12 322 June 1 2,759 30 Balance Purchases 2,179 14,773 PJ11 + + 30 Telephone expense GJ20 309 July 4 + July + No. 210 PAYG withholding payable Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 892 3 Wages expense Wages expense 226 226 17 Superannuation payable No. 220 Date Detalls Debit Date Details Post ref. CP)12 Post ref. Credit June 17 Cash 257 June 1 Balance 257 + 30 Superannuation expense GJ20 257 July July . Wages payable No. 230 Date Detalls Post ref. Debit Date Detalls Credit Post ref. GJ20 June 30 Wages expense 1,322 Bank loan No. 280 Date Details Debit Date Details Post ref. CPJ20 Post ref. Credit June 30 Cash 940 June 1 Balance 19,998 G120 30 Interest expense 84 July + July + . Owner's capital No. 300 Date Details Debit Date Details Post ref. GJ21 Post ref. Credit June 30 Drawings 39,121 June 1 Balance 55,273 July . July Owner's drawings No. 310 Date Details Post ref. Debit Date Details Post ref. Credit June 1 27 Balance Cash 35,781 June 3,340 CPJ12 Profit or loss summary No. 390 Date Details Post ref. Debit Date Detalls Post ref. Credit June 30 Expenses June 30 Income 30 Purchase Returns and allowances / Inventory + Sales income No. 400 Date Details Post ref. Debit Date Details Post ref. Credit June + 166,047 June 1 30 Balance Accounts receivable Cash SJ10 CR]14 2,640 18,240 30 Sales returns and allowances No. 410 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 46 June Discounts received No. 420 Date Details Post ref. Debit Date Details Post ref. Credit June + . 460 June 1 30 Balance Accounts payable / cash CP312 45 Delivery Income No. 430 Date Details Post ref. Debit Date Details Post ref. Credit June 28 + SJ10 June 30 Accounts receivable No. 500 Purchases - food Date Details Post ref. Debit Date Details Post ref. Credit Balance + June 1 30 53,688 June 9,532 Accounts payable P]11 No. 510 Purchase returns and allowances Date Details Post ref. Debit Date Detalls Post ref. Credit 96 June June 1 15 Balance Accounts payable GJ20 322 No. 520 Packaging costs Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance Accounts payable 7,881) June 5,158 30 P311 Discount given No. 530 Date Detalls Post ref. Debit Date Detalls Post ref. Credit June 1 Balance Accounts receivable 67) June 198 30 CRJ14 No. 540 Freight Inwards Date Detalls Post ref. Deblt Date Detalls Post ref. Credit P311 June 30 Accounts payable 83 June + Accountancy fees No. 600 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 1,133 June No. 605 Advertising expense Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 3,589 June + 30 Prepaid advertising GJ20 328 Bank charges No. 610 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 700 June + 30 Cash CP)12 61 Depreciation No. 615 Date Details Post ref. Debit Date Details Post ref. Credit GJ20 June 30 Accumulated depreciation 7,368 June Electricity and gas expense No. 620 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 2,374) June 512 24 Cash CP312 Insurance expense No. 625 Date Details Post ref. Debit Date Detalls Post ref. Credit June 1 Balance Prepaid insurance 2,063 June 720 30 GJ20 Interest expense No. 630 Date Details Post ref. Debit Date Details Post ref. Credit + June 1 Balance 1,022) June 84 30 Bank loan GJ20 Motor vehicles expense No. 635 Date Post ref. Post Details Debit Date Details Credit ref. June 1 30 Balance Cash 4,942) June 392 CP312 Printing, postage and stationery expense No. 640 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 437) June 4 437 Rent expense No. 645 Date Detalls Post ref. Debit Date Details Post ref. Credit June 1 + . Balance Cash 22,785 June 2,006 1 CP)12 No. 650 Repairs and maintenance expense Details Date Post ref. Debit Date Details Post ref. Credit June 1 Balance 681 June . Sundry expenses No. 655 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 352) June . Superannuation expense No. 660 Date Detalls Post ref. Deblt Date Detalls Post ref. Credit June 1 Balance Superannuation payable 3,232) June 257 30 GJ20 Telephone expense No. 665 Date Details Post ref. Debit Date Details Post ref. Credit 3,823 June June 1 30 Balance Accounts payable GJ20 309 Wages expense No. 670 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 3 Cash CP312 31,304 June 1,367 1,367 1,322 17 Cash CPJ12 30 Wages payable GJ20 Mario's Pizza Palace Adjusted trial balance as at 30 June 20XX Account number Credit 100 110 Debit 40,813 450 120 688 130 140 150 1,357 969 328 1,440 19,160 160 170 171 16,257 180 35,360 181 Account Cash Cash float Accounts receivable Inventory - food Inventory - packaging Prepaid advertising Prepaid insurance Motor vehicles (cost) Accumulated depreciation motor vehicles Store equipment (cost) Accumulated depreciation store equipment Accounts payable PAYG withholding payable Superannuation payable Wages payable Bank loan Owner's capital Owner's drawings Sales income Sales returns and allowances Discounts received Delivery income Food purchases 200 210 220 15,216 14,180 1,344 257 1,322 19,142 55,273 230 280 300 310 39,121 400 186,927 410 46 420 430 505 28 500 63,220 63,220 500 510 520 418 530 540 600 605 610 615 620 Food purchases Purchase returns and allowances Packaging costs Discount given Freight inwards Accountancy fees Advertising expense Bank charges Depreciation Electricity and gas expense Insurance expense Interest expense Motor vehicles expense Printing, postage and stationery expense Rent expense Repairs and maintenance expense Sundry expenses Superannuation expense Telephone expense Wages expense 625 630 13,039 265 83 1,133 3,917 761 7,368 2,886 2,783 1,106 5,334 437 24,791 681 352 3,489 4,132 35,360 310,869 635 640 645 650 655 660 665 670 310,869 Using the adjusted trial balance above, complete the general journal entries to close off the accounts for the end of the reporting period, post to and balance the general ledger accounts. (Note: Enter accounts in ascending account number order according to the chart of accounts.) Description Post ref. Debit Date 20XX Credit June 30 $ Sales income 400 186,927 Discounts received 420 505 Delivery income 430 28 190460 Profit or loss summary (Close income accounts to profit or loss summary) 30 + Purchase returns and allov 510 418 Inventory - food 130 1,357 Inventory - packaging 140 969 2744 Profit or loss summary (Close purchase returns and record closing inventory to profit or loss summary) + 30 4 Profit or loss summary Inventory - food 130 1,357 Inventory - packaging 140 969 Food purchases 500 63,220 Packaging costs 520 13,039 Discount given 530 265 Freight inwards 540 83 Accountancy fees 600 1,133 Advertising expense 605 3,917 Bank charges 6104 761 Depreciation 615 7,368 Electricity and gas expe 620 2,886 Insurance expense 625 2,783 Interest expense 630 1,106 Motor vehicles expense 635 5,334 Printing, postage and s 640 437 Rent expense 645 24,791 Repairs and maintenan 650 - 681 Sundry expenses 655 352 Superannuation expens 660 3,489 Telephone expense 665 4,132 Wages expense 670 35,360 (Close opening inventory accounts and expenses to profit or loss summary) 30 Owner's capital 300 55,273 55,273 Profit or loss summary (Transfer profit or loss summary to owner's capital) 30 A Owner's capital 300 55,273 Profit or loss summary 55,273 (Transfer profit or loss summary to owner's capital) 30 Owner's capital 39,121 Owner's drawings 310 4 39,121 (Close owner's drawings to owner's capital) (Leave blank any fields that do not require an entry. For example, if there are rows in both the debit and credit sides, but only an entry in the debit side is required, leave the credit side blank.) Date Details Post ref. Debit Date Detalls Credit Post ref. CP312 June 1 Balance 32,585 June 30 20,732 30 Payments Balance 12,504 40,813 30 Receipts CRU14 c/d July 1 Balance b/d Cash float No. 110 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 450 Accounts receivable No. 120 Date Details Post ref. Debit Date Detalls Credit Post ref. CRU14 June 1 Balance 710 June 30 Cash 2,690 30 Sales income/Delivery income SJ10 2,668 30 Balance cd Balance b/d July 1 Inventory - food No. 130 Date Details Debit Date Details Post ref. Credit June 1 Balance 1,357 June + SJ10 PJ11 CPJ12 CRJ14 GJ21 b/d c/d + + . July + July + + Inventory - packaging No. 140 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 969 June + + + July + July + . Prepaid advertising No. 150 Date Detalls Post ref. Debit Date Credit Details Advertising expense Post ref. GJ20 June 1 Balance 656 June 30 328 July + July Prepaid insurance No. 160 Date Details Post ref. Debit Date Details Credit Post ref. GJ20 June 1 Balance 2,160 June 30 Insurance expense 720 + July + July + Motor vehicles (cost) No. 170 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 19,160 Accumulated depreciation - motor vehicles No. 171 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 12,425 3,832 30 Depreciation GJ20 Store equipment (cost) No. 180 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 35,360 Accumulated depreciation - store equipment No. 181 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 11,680 3,536 30 Depreciation GJ20 Accounts payable No. 200 Date Details Debit Date Details Post ref. Credit June 15 30 Purchase returns and allowances Cash Post ref. GJ20 CP)12 322 June 1 2,759 30 Balance Purchases 2,179 14,773 PJ11 + + 30 Telephone expense GJ20 309 July 4 + July + No. 210 PAYG withholding payable Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 892 3 Wages expense Wages expense 226 226 17 Superannuation payable No. 220 Date Detalls Debit Date Details Post ref. CP)12 Post ref. Credit June 17 Cash 257 June 1 Balance 257 + 30 Superannuation expense GJ20 257 July July . Wages payable No. 230 Date Detalls Post ref. Debit Date Detalls Credit Post ref. GJ20 June 30 Wages expense 1,322 Bank loan No. 280 Date Details Debit Date Details Post ref. CPJ20 Post ref. Credit June 30 Cash 940 June 1 Balance 19,998 G120 30 Interest expense 84 July + July + . Owner's capital No. 300 Date Details Debit Date Details Post ref. GJ21 Post ref. Credit June 30 Drawings 39,121 June 1 Balance 55,273 July . July Owner's drawings No. 310 Date Details Post ref. Debit Date Details Post ref. Credit June 1 27 Balance Cash 35,781 June 3,340 CPJ12 Profit or loss summary No. 390 Date Details Post ref. Debit Date Detalls Post ref. Credit June 30 Expenses June 30 Income 30 Purchase Returns and allowances / Inventory + Sales income No. 400 Date Details Post ref. Debit Date Details Post ref. Credit June + 166,047 June 1 30 Balance Accounts receivable Cash SJ10 CR]14 2,640 18,240 30 Sales returns and allowances No. 410 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 46 June Discounts received No. 420 Date Details Post ref. Debit Date Details Post ref. Credit June + . 460 June 1 30 Balance Accounts payable / cash CP312 45 Delivery Income No. 430 Date Details Post ref. Debit Date Details Post ref. Credit June 28 + SJ10 June 30 Accounts receivable No. 500 Purchases - food Date Details Post ref. Debit Date Details Post ref. Credit Balance + June 1 30 53,688 June 9,532 Accounts payable P]11 No. 510 Purchase returns and allowances Date Details Post ref. Debit Date Detalls Post ref. Credit 96 June June 1 15 Balance Accounts payable GJ20 322 No. 520 Packaging costs Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance Accounts payable 7,881) June 5,158 30 P311 Discount given No. 530 Date Detalls Post ref. Debit Date Detalls Post ref. Credit June 1 Balance Accounts receivable 67) June 198 30 CRJ14 No. 540 Freight Inwards Date Detalls Post ref. Deblt Date Detalls Post ref. Credit P311 June 30 Accounts payable 83 June + Accountancy fees No. 600 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 1,133 June No. 605 Advertising expense Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 3,589 June + 30 Prepaid advertising GJ20 328 Bank charges No. 610 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 700 June + 30 Cash CP)12 61 Depreciation No. 615 Date Details Post ref. Debit Date Details Post ref. Credit GJ20 June 30 Accumulated depreciation 7,368 June Electricity and gas expense No. 620 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 2,374) June 512 24 Cash CP312 Insurance expense No. 625 Date Details Post ref. Debit Date Detalls Post ref. Credit June 1 Balance Prepaid insurance 2,063 June 720 30 GJ20 Interest expense No. 630 Date Details Post ref. Debit Date Details Post ref. Credit + June 1 Balance 1,022) June 84 30 Bank loan GJ20 Motor vehicles expense No. 635 Date Post ref. Post Details Debit Date Details Credit ref. June 1 30 Balance Cash 4,942) June 392 CP312 Printing, postage and stationery expense No. 640 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 437) June 4 437 Rent expense No. 645 Date Detalls Post ref. Debit Date Details Post ref. Credit June 1 + . Balance Cash 22,785 June 2,006 1 CP)12 No. 650 Repairs and maintenance expense Details Date Post ref. Debit Date Details Post ref. Credit June 1 Balance 681 June . Sundry expenses No. 655 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 352) June . Superannuation expense No. 660 Date Detalls Post ref. Deblt Date Detalls Post ref. Credit June 1 Balance Superannuation payable 3,232) June 257 30 GJ20 Telephone expense No. 665 Date Details Post ref. Debit Date Details Post ref. Credit 3,823 June June 1 30 Balance Accounts payable GJ20 309 Wages expense No. 670 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 3 Cash CP312 31,304 June 1,367 1,367 1,322 17 Cash CPJ12 30 Wages payable GJ20
