Question:Need help doing the post closing trial balance as at June 30, 2020

for ACCT1101

have most of the work done but can't upload the format so let me know what you need!

Company Background

Charles Boutique Books Pty Ltd has been in business in Melbourne since July, 2014. The company was started by James Lowe and operates a shop which sells books on a wholesale basis to other businesses

on both credit and cash terms. The company's share capital consists of 162,000 ordinary shares, issued at

$1 each, that are owned by various members of the Lowe family. The company employs a combination ofsales and administration staff to operate the business.

Accounting System Information & Procedures

The company has a financial year end of 30 June and prepares adjusting entries at the end of the financial year.

To ensure efficiency of its accounting procedures, the company uses the following Special Journals to maintainits accounting records:

1.Sales Journal (SJ): to record all sales of inventory on credit

2.Purchases Journal (PJ): to record all purchases of inventory on credit

3.Cash Receipts Journal (CRJ): to record all cash receipts

4.Cash Payments Journal (CPJ): to record all cash payments

5.General Journal (GJ): to record all transactions other than the above.

Business transactions are recorded for Charles Boutique Books on a daily basis in one of these five journals in the accounts.

Additionally, the company maintains a general ledger to record postings from the journals. Subsidiary Ledgers are used to record the separate details of Accounts Receivable and Accounts Payable. Transactions are posted immediately to the relevant ledger account if they are entered into the general journal, the "other" column of the Cash Receipts Journal or Cash Payments Journal, or if they affect any of the Accounts Receivable or Accounts Payable subsidiary ledger accounts. Apart from these transactions, totals of the special journals are taken at the end of the month and then posted to the appropriate accounts. The company uses a periodic inventory system.

In practice, the company would be required to collect and pay Goods and Services Tax (GST) on its sales and purchases. However, for the purposes of this exercise, GST has been excluded.

Please Note: All amounts in this practice set should be rounded to the nearest dollar.