Proprietor: Mr. Isell Holmes Name: Realtor 21 Description: Real Estate Agent The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Furniture Promotional Material Supplies Capital $14,947 $19,742 Additional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) $31,852 Motor vehicle scrap value (S) $7,864 $27,944 Rent paid for (months) $26,121 $545 ? Insurance paid for (months) Furniture useful life (years) Furniture scrap value ($) Closing stock of promotional materials 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 11 5 2,380 4 797 Transactions: Date Description 1-Jun Paid General Insurance Amount Date Description Amount $2,238 1-Jun Advertising placement fees - Cash $1,067 1-Jun Rental commission - Account $1,491 3-Jun Rent of Business Premises $4,130 3-Jun Rental commission - Account $1,240 4-Jun Advertising placement fees - Cash $742 7-Jun Purchase promotional materials $735 7-Jun Receive Payment from Account Customers $1,706 8-Jun Sundry Expenses $375 11-Jun Payment to Account Payable $779 13-Jun Rental commission - Cash $1,777 13-Jun Advertising Expense - Account $1,486 14-Jun Auction commission - Account $1,015 15-Jun Advertising placement fees - Account $1,016 15-Jun Staff Wages $2,539 17-Jun Cash Withdrawals by Owner $988 20-Jun Rental commission - Cash $1,568 21-Jun Payment to Account Payable $580 21-Jun Motor Vehicle Expenses $245 23-Jun Auction commission - Cash $1,890 24-Jun Additional cash contributed by owner $3,389 25-Jun Advertising placement fees - Account $1,146 25-Jun Receive Payment from Account Customers 27-Jun Auction commission - Account $1,466 $883 28-Jun Auction commission - Cash $1,796 28-Jun Advertising Expense - Cash $686 29-Jun Staff Wages $2,539 In the books of Mr. Isell Holmes GENERAL JOURNAL Date Jun-01 Particulars To Cash A/c Prepaid Insurance A/c...........Dr Debit $ 2,238.00 Credit $ 2,238.00 (Being insurance paid in advance) Jun-01 Advertisement Placement Fees A/c..Dr $ 1,067.00 To Cash A/c $ 1,067.00 (Being advertisement placement amount paid in cash) Jun-01 Account Receivables A/c ..........Dr. $1,491.00 To Rental Commission A/c $1,491.00 (Being rental commission received in account) Jun-03 Prepaid Rent A/c.... Dr $ 4,130.00 To Cash A/c (Being Rent paid in advance) $ 4,130.00 Jun-03 Account Receivables A/c ..........Dr. $1,240.00 To Rental Commission A/c $ 1,240.00 (Being rental commission received in account) Jun-04 Advertisement Placement Fees A/c..Dr $742.00 To Cash A/c $742.00 (Being advertisement placement amount paid in cash) Jun-07 Purchases A/c...Dr $735.00 To Cash A/c $735.00 (Being purchases in cash) Jun-07 Cash A/c....Dr $1,706.00 To Accounts Receivables A/c $1,706.00 (Being payment received from customers) Jun-08 Sundry Expenses A/c....Dr $375.00 To Cash A/c $375.00 (Being sundry expenses paid in cash) Jun-11 Accounts Payable A/c....Dr $779.00 To Cash A/c $779.00 (Being accounts payable paid in cash) Jun-13 Cash/Ac....Dr $1,777.00 To Rental Commission A/c $1,777.00 (Being rental commission received in cash) Jun-13 Advertising Expense A/c....Dr $1,486.00 To Accounts Payable A/c $1,486.00 (Being advertising expense paid from account) Jun-14 Accounts Receivable A/c....Dr $ 1,015.00 To Auction Commission A/c $1,015.00 Jun-15 Advertisement Placement Fees A/c..Dr To Cash A/c (Being advertisement placement amount paid in cash) $ 1,016.00 $1,016.00 Jun-15 Wages A/c....Dr To Cash A/c $2,539.00 $2,539.00 (Being wages paid in cash) Jun-17 Drawings A/c....Dr $988.00 To Cash A/c $988.00 (Being cash withdrawn for personal use) Jun-20 Cash A/c....Dr $1,568.00 To Rental Commission A/c $1,568.00 (Being rental commission received in cash) Jun-21 Accounts Payable A/c....Dr $580.00 To Cash A/c $580.00 (Being accounts payable paid in cash) Jun-21 Repair and Maintenance A/c...Dr $245.00 To Cash A/c $245.00 (Being repair and maintenance on motor vehicle expense paid in cash) Jun-23 Cash A/c....Dr $1,890.00 To Auction Commission A/c $1,890.00 (Being auction commission received in account) Jun-24 Cash A/c....Dr $3,389.00 To Capital A/c $3,389.00 (Being extra cash introduced as capital) Jun-25 Cash A/c.....Dr $1,466.00 To Accounts Receivable A/c $1,466.00 (Being payment received from customers) Jun-25 Advertisement Placement Fees A/c..Dr $1,146.00 To Accounts Payable A/c $1,146.00 (Being advertisement palcement fees paid from account) Jun-27 Accounts Receivable A/c.....Dr $883.00 To Auction Commission A/c $883.00 (Being auction commission received in account) Jun-28 Cash A/c.....Dr $1,796.00 To Auction Commission A/c $1,796.00 (Being auction commission received in cash) Jun-28 Advertising Expense A/c....Dr $686.00 To Cash A/c $686.00 (Being advertisement expense paid in cash) Dr. RENTAL COMMISSION Cr. PARTICULA PARTICULA DATE RS AMOUNT DATE RS AMOUNT Account To Balance Receivables 30-Jun c/d $ 6,076.00 1-Jun A/c $1,491.00 Account Receivables 3-Jun A/c $1,240.00 13-Jun Cash/Ac $1,777.00 20-Jun Cash A/c $1,568.00 $ 6,076.00 $ 6,076.00 Dr. AUCTION COMMISSION Cr. PARTICULA PARTICULA DATE RS AMOUNT DATE RS AMOUNT Accounts To Balance Receivable 30-Jun c/d $ 5,584.00 14-Jun A/c 23-Jun Cash A/c $ 1,015.00 $1,890.00 Accounts Receivable 27-Jun A/c $ 883.00 28-Jun Cash A/c $ 1,796.00 $ 5,584.00 $ 5,584.00 Dr. ADVERTISEMENT PLACEMENT FEES Cr. PARTICULA PARTICULA DATE RS AMOUNT DATE RS AMOUNT By Balance 1-Jun To Cash A/c $ 1,067.00 30-Jun c/d $ 3,971.00 4-Jun To Cash A/c $ 742.00 15-Jun To Cash A/c $1,016.00 To Accounts 25-Jun Payable $ 1,146.00 $ 3,971.00 $ 3,971.00