Sum and Sarah are In gartnerahls and acurate a auri shop called Sun and Surf. They maintale a cash TASK 4: book but are orsoaring to someone to a double-amery mestam an at | July, 1018. They hares cravided Write out Journala for all of chu abows Cash Payments and cast as the General Ledear Accounts. you with the following Information from their resarch for the rear ended 30 June 2018. 107 2017 107 2017 ADDITIONAL INFORMATION AND TRIAL BALANCE AB AT LTHT CA END OF YEAR AM U KTING JOURNALA Cuch at Bank 120.000 Acoounts Receivable 76,000 Credit zulus during the year $935,000 Omelucina GST). Propold Admin stration Expencas 8,010 by Cradle purchasna $357,500 Including GST). Inventory on Hand 84,000 The sale of azulement on 30/4/18 was an kom that cost $35 000 (excludi-z GST) and had 3IT Palo 0 bawn depreciated by $12,000 at cha umm of malu. Bulldings 256,000 The total Dweraclation Excones on all Plans and Eaulament for the roar was $18,000. Plant and Equipment 176,D00 Administration Expenses ould during the roar Includes a crusald amount of $9,500 at Aco Depreciation - Plant and Equipment 83,600 30/718. Invectmanto 280,000 Sallinc Exconana cold during the year do not Include an amount of $8 500 ewing ne 3078/18. Acoounts Fayable 58,010 ) Coal-z Imantery an at 30 8/1 8 be valued at $85,500. BUT Collected 26,000 TASK 5: Acorued Balling Expancas Mortgage on Bull 176,010 Write out Journala for all of cha abows additional Information Itama and seat to the Gararal Ledcar Capital tum 283,750 Accountr. Capital Sarah 383,750 1.087.070 1.087.010 TASK 6: Prucare an acdusted Trial Balance as at 30 June 2018 after beating all of che aboss fourraila. TASK I: TASK 7: Enter the above Downing Balances as a: 1/7/17 Into the General Ladear Accounts. Prucare the following financial reports: ") Income Statement showinc ersAt for the roar anded 20 Juma, 2018. TASK 2: 17 Balance Shout am at 30 June 2018- Write cut leurnala to transfer Inventory on Hand at 1/7/17 to Doentez Inventory and to reveras the Fart-archie profits are to be dbtributed wowalby, 50% Sam 50% Sarah. above Procold and Accrued Exce-aax ax at 1/7/17. Peat the Journals to cha Ganaral Ledcar Accounts. The profit distribution la to bu reflected In the mariners' Current Account as It 10 20 03 2013 at of June, 1018 within the Balance Sheet Tote E Do not close the partners' drawings accounts to their Current Accounts as at 10 CASH RECEIVED YE 20 JUNE 2018: Jun 2018. Received from Aooounto Rooslivable BEO, DO0 TASK : Jale of Plant & Equipment 18,800 1,810 18,002 Frucars a Journal entry to bring sooning ledzar balances to account as at I July, 1018. Interact Raogived 13,750 TASK 3: Write out Journala for all of che abows Cash Recslots and cast to the General Ledger Accounts. 20 03 2013 Nat of CASH PAID YE 20 JUNE 2018: Payments to Apcounts Payable 286,000 Administration Expencec 122,100 11,100 111,000 Jelling Expanses 226,600 20,600 205,000 Purchase of Plant & Equipment 44,000 4,010 40 000 12,000 12,002 Bulldings Purohased 240,000 240 007 Investments Purchased 16,000 15,003 Mortgage Loan Repayment 26,000 25,000
