Practical Completion Point 1 Minnie Armim runs a business Min Armim Wasteage that specialises in energy saving products and advice. She has contacted you for some assistance in setting up a new accounting system. Minnie has managed to collect enough information to create a chart of accounts for you to work from. This completion point comprises two tasks. Setting up a new system by completing an opening entry and any other relevant journal entries then posting these appropriately; and entering a set of transactions into the general journal and then recording these in the relevant ledgers. After completing these tasks, you will need to review your work and submit. Task 1 You have been provided with an Excel file which contains the General Journal and Ledger Accounts. The necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the excel spreadsheet provided. To set up Minnie's new system, enter the information below from the chart of accounts and schedules as an Opening Entry into the General Journal and post the relevant information to the General Ledger Accounts provided in the excel file. Min Armin Wasteage - Chart of Accounts as at 1 July 2020 090 091 610 611 111 113 115 116 140 141 150 151 160 161 800 205 210 220 299 820 900 Bank Petty Cash Accounts Receivable Control Allowance for Bad and Doubtful Debts Inventory Stationery on Hand Prepaid Insurance Prepaid Rent Equipment Acc. Depreciation - Equipment Premises Accumulated Depreciation - Premises Vehicle Ace. Depreciation - Vehicle Accounts Payable Control Office Supplies Owing Internet and Telephone Expenses Payable Wages Expense Payable Big 4 Bank Mortgage Loan (5-year) GST Capital - Minnie Armin 3860 210 13585 462 3090 130 1800 10000 6400 1460 140000 21000 23000 229 7887 186 481 862 123000 950 45558 Additional Notes Schedule of Accounts Receivable as at 1 July 2020 Acc. No. 61001 61003 61005 61007 Unplugged Limited The Charity Stores Developing Naturally Hotels United 726 2,310 4,455 6,094 13,585 80001 80003 80005 Schedule of Accounts Payable as at 1 July 2020 Get Connected Limited 4,180 Reduce, Reuse, Get Rich 1,760 Flooded Industries 1,947 7,887 You will need to enter this information into the appropriate subsidiary ledger accounts. CE General al Posting Reference Dale Details Date Details Posting Reference DR OR General ledger - assets Bank Date Date Details Amount Details Amount Date Details Art Date Details Petty cash Date Date Det Amount Details Amount Accumulated Depreciation foutme Amount Details Amount Date Details Premises Amount Det Om Accounts Receivable Date Detais Date Details Amount Date Details amount Amount Accumulated Depreciation Premises Amount Date Details Amount Date Details Vehicle Amon Amount Details Allowance for Bed and Doubtful Debts Date Details Amount Dute Amount Accumulated Depreciation Vehicle Amount Date Details Art Date Details Inventory General ledger - liabilities Details Amount Date Details Amount Accounts Payabile Control Amount Date Det Amount Date Details Stationery on Hand Details Amount Date Details Amount Internet and Telephone Expenses Payable Details Amount Date Detais Date Amount Prepaid Rent Details Amount Date Amount Details Office Supplies Owing Prepaid Insurance Date Amount Details Date Amount Details Date Amount Details Amount Details General ledger-expense Det A Date Date Details Amount Det AR OST Date Details Amount Amount Bank Mortgage loan is year General ledger-equly Details Amount Amount Date Amount Dute General leder-income Sales Revenue - 600 Date Amount Details Amount Date Subsidiary ledger -receivable Amount Valted Limited Date Detai Date Deta Amount Amount Date Details The Charity Stores Amount Details Details Amour Date Date Date Details Amount Developing Naturally Details Amount Date Amount Date Details Amount Hotels United Date Details Amount Amount Date Details Subsidiary ledger - payable Get Connected Limited Amount Date Amount Details Details Date Reduce, Reuse, Get Rich Amount Date Details Date Details Amount Flooded Industries Date Details Amount Date Details Amount