Marios Pizza Palace Practice Set Part 1 The schedule of Accounts receivable, Accounts payable and trial balance for Mario's Pizza Palace are shown below. Schedule of accounts receivable as at 31 May 20xx Invoice Terms Date of no. invoice 389 30/05/20XX 385 N30 13/05/20xx Customer Port City Motors Princess May Theatre Amount due N30 $373 345 $718 Supplier Amount due Schedule of accounts payable as at 31 May 20xx Invoice Terms Date of no. invoice 27369 N30 1/05/20xx 4182 5/10, N30 31/05/20XX 19265 N15 9/05/20XX Foodmart Wholesalers Fresh Food Markets Italian Store $1,143 320 911 $2,374 Debit Credit $ 32,094 520 718 1,233 962 656 2.013 16,643 11,323 36,850 11,430 2,374 801 274 19,957 54,840 36,629 Mario's Pizza Palace Trial balance as at 31 May 20XX Account Account no. 100 Cash 110 Cash float 120 Accounts receivable 130 Inventory - food 140 Inventory - packaging 150 Prepaid advertising 160 Prepaid insurance 170 Motor vehicles (cost) 171 Accumulated depreciation - motor vehicles 180 Store equipment (cost) 181 Accumulated depreciation - store equipment 200 Accounts payable 210 PAYG withholding payable 220 Superannuation payable 280 Bank loan 300 Owner's capital 310 Owner's drawings 400 Sales income 410 Sales returns and allowances 420 Discounts received 500 Food purchases 510 Purchase returns and allowances 520 Packaging costs 530 Discount given 600 Accountancy fees 605 Advertising expense 610 Bank charges 620 Electricity and gas expense 625 Insurance expense 630 Interest expense 635 Motor vehicles expense 640 Printing, postage and stationery expense 645 Rent expense 650 Repairs and maintenance expense 655 Sundry expenses 660 Superannuation expense 665 Telephone expense 670 Wages expense 169,183 55 487 53,549 88 8,934 76 1,265 3,270 786 2,246 2,233 952 4,607 413 24,345 676 343 2,968 3,314 32,407 270,757 270,757 INSTRUCTIONS: In all parts of this question, enter amounts to the nearest whole number. Enter negative amounts using a hyphen (e.g.-200) or using parentheses (e.g. (200)). If the balance or total returns to zero, enter O in the required field. If an entry field does not require an answer, leave the field blank. TIPS: To avoid having to scroll up and down the question: if printing is enabled, print out the parts (as required) - if printing is not enabled, copy and paste the required parts into a Word document and divide your screen between the question and the copied content Alternatively you may choose to use the Excel templates/working documents have been designed to provide assistance if there is a preference to work offline and later enter the completed information online to submit for assessment. Save regularly using the "Save for later' button at the end of each part. For assistance regarding account names, click the 'Show list of accounts' button to view all of the accounts used in this question. For assistance regarding the account numbers, click the 'Hint' button to view the full chart of accounts. Predictive text can be used to assist entering the account titles when recording and posting information in the journals and ledger accounts, simply type in the first few letters to use the predictive text option. Excel templates/working documents have been designed to provide assistance if there is a preference to work offline and later enter the completed information online to submit for assessment. Use the Trial Balance as at 31 May 20xx to enter the opening balances in the general ledger accounts. Note, use "Balance" as the cross reference when posting the balances to the general ledger accounts. Cash No. 100 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 32,094 Cash float No. 110 Date Details Post ref. Debit Date Details Post ref. Credit June 1 Balance 520 No. 120 Accounts receivable Date Details Post ref. Debit Date Details Post ref. Credit No. 130 Inventory - food Date Details Post ref. Debit Date Details Post ref. Credit Inventory - packaging No. 140 Date Details Post ref. Debit Date Details Post ref. Credit Prepaid advertising No. 150 Date Details Post ref. Debit Date Details Post ref. Credit Prepaid insurance No. 160 Date Details Post ref. Debit Date Details Post ref. Credit Motor vehides (cast) No. 170 Date Details Post ref. Debit Date Details Post ref. Credit No. 171 Accumulated depreciation - motor vehicles Date Details ref. Post Debit Date Details Post ref. Credit No. 180 Store equipment (cost) Date Details Post ref. Debit Date Details Post ref. Credit No. 181 Accumulated depreciation-store equipment Post Date Details ref. Debit Date Details Post ref. Credit Accounts payable No. 200 Date Details Post ref. Debit Date Details Post ref. Credit No. 210 PAYG withholding payable Date Details Post ref. Debit Date Details Post ref. Credit Superannuation payable No. 220 Date Details Post ref. Debit Date Details Post ref. Credit Bank loan No. 280 Date Details Post ref. Debit Date Details Post ref. Credit No. 300 Owner's capital Date Details Post ref. Debit Date Details Post ref. Credit No. 310 Owner's drawings Date Details Post ref. Debit Date Details Post ref. Credit Sales income No. 400 Date Details Post ref. Debit Date Details Post ref. Credit Sales returns and allowances No. 410 Date Details Post ref. Debit Date Details Post ref. Credit Discounts received No. 420 Date Details Post ref. Debit Date Details Post rel. Credit Food purchases No. 500 Date Details Post ref. Debit Date Details Post ref. Credit Purchase returns and allowances No. 510 Date Details Post ref. Post Debit Date Details Credit No. 520 Packaging costs Date Details Post ref. Debit Date Details Post ref. Credit Discount given No. 530 Date Details Post ref. Debit Date Details Post ref. Credit Accountancy fees No. 600 Date Details Post ref. Debit Date Details Post ref. Credit Advertising expense No. 605 Date Details Post ref. Debit Date Details Post rel. Credit Bank charges No. 610 Date Details Post ref. Debit Date Details Post ref. Credit No. 620 Electricity and gas expense Date Details Post ref. Debit Date Details Post ref. Credit Insurance expense No. 625 Date Details Post ref. Debit Date Details Post ref. Credit Interest expense No. 630 Post Date Details rel. Debit Date Details Post ref. Credit No. 635 Motor vehicles expense Date Details Post ref. Debit Date Details Post ref. Credit No. 640 Printing, postage and stationery expense Date Post Details ref. Debit Date Details Post ref. Credit Rent expense No. 645 Date Details Post ref. Debit Date Details Post ref. Credit No. 650 Repairs and maintenance expense Date Details Post ref. Debit Date Details Post ref. Credit Sundry expenses No. 655 Date Details Post ref. Debit Date Details Post ref. Credit Superannuation expense No. 660 Date Details Post ref. Debit Date Details Post ref. Credit