Prepare a trial balance as at 30 June. Schedules of accounts receivable and accounts payable will be provided. (Note: Enter accounts in ascending account number order. Leave blank any answer fields that do not require an answer.)

June 1 The owner opened a bank account for the business with a deposit of $22,000. This is capital provided by him. 1 Purchased display stands, shelving etc. (shop equipment) from Shop Displays Pty Ltd for $26,800 and computer equipment for the shop from Computer Wizards for $4,500. These were paid for with a loan of $27,000 from the bank and cheque for $4,400 from the business bank account. The bank loan is repayable over 4 years. 1 Paid $3,950 for a 1-year insurance policy covering fire, theft, and public liability. 2 Purchased inventory (skateboards and protective gear) from Excitement Plus for $20,200 on terms on net 30. 5 Cash purchase of postage stamps and stationery from Australia Post $360. 7 Purchased surfboards wetsuits from Surf Imports for $18,280 on terms of 10/10, n/30. 8 Paid $1,500 to Local Newspapers for advertising for the shop for the month. 8 Paid Surf Imports the amount owing to them less the prompt payment discount. 11 Credit sale to Surfing World of various inventory items for $7,110 (cost of sales $3,630). Terms net 30. 12 Credit sale to Academy Diving School of 17 wetsuits at a discounted price of $220 each on terms of net 15. Cost of sales $2,400. 13 Credit sale to Serious Fun of skateboards and protective gear for $4,200 (cost of sales $2,300). This customer was given terms of 5/10, n/30. 14 Cash sale of a skateboard and protective gear for $440 (cost of sales $240). 18 Received a cheque from Serious Fun for the amount owing by them after deducting the prompt payment discount. 23 Cash sale of inventory to the value of $980 (cost of sales $390). 24 Issued an adjustment note (credit note) to Academy Diving School for 3 wetsuits at $220 each that was not the size they required. The cost of the wetsuits to us was $360 and they were put back into inventory. 25 Paid Excitement Plus $4,800 of the amount owing to them. 26 Credit sale to Serious Fun of skateboards for $7,500 (cost of sales $3,000). Terms 5/10, n/30. 27 Purchased wetsuits from Surf Imports for $7,100 on terms of 10/10, n/30. 27 Received and banked a cheque from Academy Diving School for the amount owing by them. 30 Paid Energy Australia $170 for electricity expenses. 30 The owner cashed a cheque for $1,850 to pay wages to Scott Walker the sales assistant of $860 less PAYG Withholding of $30, and $1,020 drawings for himself. Cash at bank Date Details June 1 Capital 14 Sales revenue 18 Accounts receivable 23 Sales revenue 27 Accounts receivable Debit Date Details 22,000 June 1 Shop equipment (cost) 440 1 Prepaid insurance 3,990 5 Postage and stationery expense 980 8 Advertising expense 3,080 8 Accounts payable 25 Accounts payable 30 Electricity expense 30 Wages expense 30 Drawings No.100 Credit 4,400 3,950 360 1,500 16,452 4,800 170 830 1,020 Accounts receivable Date Details June 11 Sales revenue 12 Sales revenue 13 Sales revenue 26 Sales revenue Debit Date Details 7,110 June 18 Cash at bank 3,740 18 Discount allowed 4,200 24 Sales returns and allowances 7,500 27 Cash at bank No.110 Credit 3,990 210 660 3,080 Inventory Date Details June 2 Accounts payable 7 Accounts payable 24 Cost of sales 27 Accounts payable Debit Date Details 20,200 June 11 Cost of sales 18,280 12 Cost of sales 360 13 Cost of sales 7,100 14 Cost of sales 23 Cost of sales 26 Cost of sales No.120 Credit 3,630 2,400 2,300 240 390 3,000 Prepaid insurance Date Details June 1 Cash at bank No.130 Credit Date Details Debit 3,950 No.171 Credit Date Details Debit 27,000 4,400 Shop equipment (cost) Date Details June 1 Bank loan June 1 Cash at bank Accounts payable Date Details June 8 Cash at bank 8 Discount received 25 Cash at bank Details Debit Date 16,452 June 2 Inventory 1,828 7 Inventory 4,800 27 Inventory No.200 Credit 20,200 18,280 7,100 PAYG withholding payable Date Details No.210 Credit Debit Date Details June 30 Wages expense 30 Bank loan Date Details Debit Date Details June 1 Shop equipment (cost) No.230 Credit 27,000 Capital Date Details Debit Date June Details 1 Cash at bank No.300 Credit 22,000 Drawings Date Details June 30 Cash at bank No.310 Credit Date Details Debit 1,020 Sales revenue Date Details Debit Date Details June 11 Accounts receivable 12 Accounts receivable 13 Accounts receivable 14 Cash at bank 23 Cash at bank 26 Accounts receivable No.400 Credit 7,110 3,740 4,200 440 980 7,500 Sales returns and allowances Date Details June 24 Accounts receivable No.410 Credit Debit Date Details 660 Discount received Date Details Debit Date Details June 8 Accounts payable No.420 Credit 1,828 Details No.500 Credit 360 Cost of sales Date Details June 11 Inventory 12 Inventory 13 Inventory 14 Inventory 23 Inventory 26 Inventory Advertising expense Date Details June 8 Cash at bank Debit Date 3,630 June 24 Inventory 2,400 2,300 240 390 3,000 No.600 Credit Date Details Debit 1,500 Discount allowed Date Details June 18 Accounts receivable No.620 Credit Debit Date Details 210 Electricity expense Date Details June 30 Cash at bank No.630 Credit Debit Date Details 170 Postage and stationery expense Date Details June 5 Cash at bank No.660 Credit Debit Date Details 360 No.690 Credit Details Wages expense Date Details Debit Date June 30 Cash at bank 830 30 PAYG withholding payable 30 Accounts receivable subsidiary ledger Academy Diving School Date Explanation Debit Credit June 12 Invoice 3,740 24 Adjustment note 660 27 Receipt 3,080 Serious Fun Date Explanation Debit Credit June 13 Invoice 4,200 18 Receipt 4,200 26 Invoice 7,500 Surfng World Date Explanation Debit Credit June 11 Invoice 7,110 Accounts payable subsidiary ledger Excitement Plus Date Explanation Debit Credit June 2 Invoice 20,200 25 Payment 4,800 Acct code: ADI Balance 3,740 Dr 3,080 Dr 0 Acct code: SFU Balance 4,200 Dr 0 7,500 Dr Acct code: SWO Balance 7,110 Dr Acct code: EPL Balance 20,200 15,400 Debit Surf Imports Date Explanation June 7 Invoice 8 Payment 27 Invoice Credit 18,280 Acct code: SIM Balance 18,280 0 7,100 18,280 7,100 Skate 'n' Surf Trial balance as at 30 June 20XX Debit Account no. Account Credit $ 7 7 OF