Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Schedule of Accounts Receivable as at 31 May 20XX Invoice Date of Customer Terms Invoice Amount Due No. Coral Holiday Resort 3347 N30 15/05/20XX $

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Schedule of Accounts Receivable as at 31 May 20XX Invoice Date of Customer Terms Invoice Amount Due No. Coral Holiday Resort 3347 N30 15/05/20XX $ 2,160.00 Beach and Reef Holidays 3339 N30 3/05/20XX 1,320.00 Budget Diving Tours 3352 N30 29/05/20XX 2,280.00 $ 5,760.00 Schedule of Accounts Payable as at 31 May 20XX Supplier Invoice Terms Date of Amount Due No. Invoice Louis Reevsby 1753 N7 31/05/20XX $ 960.00 One Stop Diving Shop 13467 N30 30/04/20XX 2,400.00 Diving DownUnder 9412 N30 8/05/20XX 2,464.00 $ 5,824.00100 105 110 120 130 140 160 161 170 171 180 181 190 191 200 210 220 230 280 310 315 400 410 420 430 600 605 610 Pro Diver Trial Balance as at 31 May ZUXX Accou nt Bank Account Petty Cash Accounts Receivable Prepaid Insurance Prepaid Rates and Taxes GST Paid (Outlays) Buildings and Improvements (Cost) Accumulated Depreciation Bldgs and Improvements Hire Equipment (Cost) Accumulated Depreciation Hire Equipment Motor Vehicles (Cost) Accumulated Depreciation Motor Vehicles Store Equipment (Cost) Accumulated Depreciation Store Equipment Accounts Payable GST Collected PAYG Withholding Payable Superannuation Payable Bank Loan Capital Drawings Hire Service Income Lesson Income Discounts Received Freight Collected Advertising Bank Charges Cleaning $ Debit 14,632.20 200.00 5,760.00 381.25 164.75 1,905.75 350,000.00 108,000.00 29,900.00 14,700.00 36,000.00 2,150.00 112.40 800.00 $ 43,750.00 67,500.00 8,970.00 6,615.00 5,324.00 5,745.90 1,120.00 432.00 220,000.00 151,155.00 122,880.00 25,530.00 392. 10 85.00 GENERAL LEDGER Name: BANK ACCOUNT Acct No.: 100 Post Date Explanation Debit Date Ref Explanation Post Ref Credit Name: PETTY CASH Acct No.: 105 Post Post Date Explanation Ref Debit Date Explanation Ref Credit Name: ACCOUNTS RECEIVABLE Acct No.: 110 Post Date Explanation Ref Debit Date Explanation Post Ref Credit Name: PREPAID INSURANCE Acct No.: 120 Date Explanation Post Post Ref Debit Date Explanation Ref Credit Name: PREPAID RATES AND TAXES Acct No.: 130 Date Explanation Post Post Ref Debit Date Explanation Ref Credit Name: GST PAID (OUTLAYS) Acct No.: 140 Date Explanation Post Debit Explanation Post Ref Date Ref CreditName: BUILDINGS AND IMPROVEMENTS (COST) Acct No.: 160 Date Explanation Post Debit Date Post Ref Explanation Ref Credit Name: ACCUMULATED DEPRECIATION - BLDGS AND IMPROVEMENTS Acct No.: 161 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: HIRE EQUIPMENT (COST) Acct No.: 170 Post Date Explanation Post Ref Debit Date Explanation Ref Credit Name: ACCUMULATED DEPRECIATION - HIRE EQUIPMENT Acct No.: 171 Date Explanation Post Debit Post Ref Date Explanation Ref Credit Name: MOTOR VEHICLES (COST) Acct No.: 180 Date Explanation Post Debit Date Ref Explanation Post Ref Credit Name: ACCUMULATED DEPRECIATION - MOTOR VEHICLES Acct No.: 181 Date Explanation Post Ref Debit Date Explanation Post Ref CreditName: STORE EQUIPMENT (COST) Acct No.: 190 Date Explanation Post Date Post Ref Debit Explanation Ref Credit Name: ACCUMULATED DEPRECIATION - STORE EQUIPMENT Acct No.: 191 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: ACCOUNTS PAYABLE Acct No.: 200 Post Post Date Explanation Ref Debit Date Explanation Ref Credit Name: GST COLLECTED Acct No.: 210 Explanation Post Ref Date Explanation Post Date Debit Ref Credit Name: PAYG WITHHOLDING PAYABLE Acct No.: 220 Date Explanation Post Ref Debit Date Explanation Post Credit Ref Name: SUPERANNUATEON PAYABLE Acct No.: 230 Explanation Post Date Ref Debit Post Date Explanation Ref CreditName: BANK LOAN Acct No.: 280 Date Explanation 10:: Debit Date Explanation at? Credit ' \\ | ' \\ V | \\ ' \\ Name: CAPITAL Acct No.: 310 Date Explanation 10:: Debit Date Explanation 10:: Credit ' \\ | ' \\ V | \\ ' \\ Name: DRAWINGS Acct No.: 315 Date Explanation 10:: Debit Date Explanation :0: Credit ' \\ | ' \\ ' | \\ ' \\ Name: HIRE SERVICE INCOME Acct No.: 400 Date Explanation :25: Debit Date Explanation :0: Credit \\ . w | v w w . | w . \\ Name: LESSON INCOM E Name: DISCOUNTS RECEIVED Acct No.: 420 Explanation ' Explanation Acct No.: 410 Credit Name: FREIGHT COLLECTED Acct No.: 430 Date Explanation Post Post Ref Debit Date Explanation Ref Credit Name: ADVERTISING Acct No.: 600 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: BANK CHARGES Acct No.: 605 Date Explanation Post Post Ref Debit Date Explanation Ref Credit Name: CLEANING Acct No.: 610 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: DEPRECIATION Acct No.: 615 Date Explanation Post Debit Date Explanation Post Ref Ref Credit Name: ELECTRICITY Acct No.: 625 Date Explanation Post Date Post Ref Debit Explanation Ref CreditName: FREIGHT EXPENSE Acct No.: 630 Date Explanation Post Debit Ref Date Explanation Post Ref Credit Name: INSURANCE Acct No.: 635 Date Explanation Post Debit Date Explanation Post Ref Ref Credit Name: INTEREST EXPENSE Acct No.: 640 Date Explanation Post Debit Ref Date Explanation Post Ref Credit Name: MOTOR VEHICLE EXPENSES Acct No.: 645 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: OFFICE SUPPLIES Acct No.: 650 Date Explanation Post Debit Ref Date Explanation Post Ref Credit Name: PRINTING AND POSTAGE Acct No.: 655 Date Explanation Post Debit Date Explanation Post Ref Ref CreditName: RATES AND TAXES Acct No.: 660 Date Explanation Post Ref Debit Post Date Explanation Ref Credit Name: REPAIRS AND MAINTENANCE Acct No.: 665 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: DIVING INSTRUCTION CHARGES Acct No.: 670 Post Date Explanation Ref Debit Post Date Explanation Ref Credit Name: STAFF AMENITIES Acct No.: 675 Date Explanation Post Debit Date Explanation Post Ref Ref Credit Name: SUPERANNUATEON Acct No.: 680 Date Explanation Post Ref Debit Date Explanation Post Ref Credit Name: TELEPHONE Acct No.: 685 Date Explanation Post Debit Date Explanation Post Ref Ref Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

7th Edition

978-1760421144, 1760421146

More Books

Students also viewed these Accounting questions

Question

The number of new ideas that emerge

Answered: 1 week ago

Question

Technology

Answered: 1 week ago