SydGee Ltd BANK STATEMENT Opening Trial Balance As at 30 June 2021 1 June 2021 DATE PARTICULARS DEBIT CREDIT BALANCE Account Debit Credit June 9.940 Cash at bank 9.940 1 cheque no.119 200 3.740 Accounts Receivable $ 46,500 cheque no.120 350 8.390 Prepaid rent $ 2.500 12 Orange Lto $30,000 38,390 Equipment (paid cash on 1 April $ 40,000 16 cheque no.122 $ 1,000 37.390 Accounts Payable 25,00 17 Cherry Ltd $ 4.200 $ 41.590 Bank loan 82.670 18 5.121 25.000 16.590 Capital 30.000 20 cheque no.124 1,000 15,590 Drawings $ 5.000 26 cheque no.126 150 15,440 Sales $ 73.000 28 cheque no.123 320 15.120 Purchases $ 72,000 cheque no.128 1,000 14,120 Electricity $ 1.970 30 bank service fees 25 $ 14,095 Equipment Maintenance Costs $ 1 460 Insurance - Equipment 300 Interest $ 1.000 Office Supplies S 320 Rent $ 5.500 Telephone S 680 Wages 3.500 Opening Inventory $ 20.000 $210.670 5 210.670 TRANSACTIONS FOR THE PERIOD MONTH DATE PARTICULARS AMOUNT (3) June 1 Drew cheque no. 119 to establish Petty Cash Advance 200 Paid insurance on equipment by cheque no. 120 350 2 Purchased 120 of Conventional at $280 each from Air King. Invoice no. 60110 33.600 5 Received payment from customer, Orange Lid, for $30000. Receipt No.602 30.000 Sold 80 Conventional at $450 each to Berry Lid on credit 36,000 9 Paid for cardboard boxes from petty cash. Voucher No. 2 65 10 Sold 6 Refrigerator at $700 each to Cherry Lid for cash. Receipt No. 603 4.200 11 Paid the outstanding debt in full to Air King. Cheque No. 121 25 000 13 Paid $85 for advertising brochures from petty cash. Voucher No. 3 85 15 Paid wages expense. Cheque No. 122 1,000 18 Paid electricity expense. Cheque No. 123 320 20 Drawing by owner of $1000. Cheque No. 124 1,000 21 Returned 5 defective Refrigerators purchased on 2 June 2014 to Air King 1,400 23 Paid $85 for air conditioning gas. Cheque No. 125 85 26 Reimbursed petty cash. Cheque No. 126 150 27 Paid telephone expense. Cheque No. 127 285 28 Paid wages expense. Cheque No. 128 1,000 29 Received full payment from customer, Apple Lid. 2% discount for early payment appli 16.500 29 Paid rent in advance for July 2021. Cheque No. 129 2.500 Additional Information 30 Unpaid wages at the end of the month $500 30 Recognised Depreciation expense on Refrigerator for the month $400Description purchases sales opening inventory closing inventory SPEE! 280 $ 81,600 114 $ 51.300 #REF! 48 24,000 50 | $ 15,000 31 $ 21.700 $ 5,000 Total $ 105,600 $ 73.000 $ 20,000 Periodic Inventory System specific identWA Hints: Calculate Ending Inventory using Weighted average (WA) method 2 SydGee Lid CASH RECEIPTS JOURNALS DEBITS CREDITS DATE Account Receipt No. Cash at Bank A/R 5-Jun Orange Ltd Sales 602 30,000 30,000 8 Cash Sale Apple Ltd 30,000 30,000 2 SydGee Ltd CASH PAYMENT JOURNALS DATE PARTICULARS CHO # Petty Insuran Account Wages Electricit Cash ce Expense Telepho Payable Drawings Condition Prepaid Bank CASH AT 5 Expense ing Gas Expense Rent Fees BANK 1-Jun Petty cash 119 200 Insurance 130 350 11 Air King (outstanding debt) Wages 18 Electricity Expense Drawings 21 Air Conditioning Gas 26 Petty Cash 27 Telephone Expense 28 Wages Expense 29 Rent in advance Bank fees 200 350 550SydGee Ltd GENERAL JOURNALS DATE PARTICULARS DEBIT CREDIT For Ending inventory Inventroy: Closing Entries for temporary accounts: (add rows if required) Adjusting Entries: 2 SydGee Ltd CASH RECEIPTS JOURNALS DEBITS CREDITS DATE Account Receipt No. Cash at Bank A/R Sales 5-Jun Orange Lid 602 30,000 30,000 8 Cash Sale 29 Apple Lid 30,000 30,0002 SydGee Ltd CASH PAYMENT JOURNALS DF CR Electrici Air Teleph DATE PARTICULARS CHQ # Petty Insura Accounagis ts Expens Drawing Conditio one Prepai Bank CASH AT Cash nce Payable es Expens s ning Expens d Rent Fees BANK Gas 1-Jun Petty cash 119 Insurance 120 Air King (outstanding debt) Wages Electricity Expense Drawings 21 Air Conditioning Gas 26 Petty Cash 27 28 Telephone Expense Wages Expense 29 Rent in advance Bank fees 200 350 2 SydGee Ltd SALES JOURNALS Date Particulars Invoice No. Sales Acc. Receivable June 8 Berry Ltd 2 SydGee Ltd PURCHASES JOURNALS Date Particulars Invoice No. Purchases Acc. Payable 1-Jun Air King 60110 33,600 33,600 33,600 33,600 2 SydGee Ltd PURCHASES RETURNS & ALLOWANCES JOURNALS Date Particulars Invoice No. Acc. Payables Purchreturns 21-Jun Air King - returns3 SydGee Ltd ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Apple Ltd DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun Beginning Balance (ignoring discount 16,500 16,500 CPJ Orange Ltd DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jur Beginning Balance 30,000 30,000 44742 CPJ #VALUE! Berry Ltd DATE PARTICULARS DEBIT CREDIT BALANCE B-Jun SJ 36,000.00 36,000.00 3 SydGee Ltd ACCOUNTS PAYABLE SUBSIDIARY LEDGER DATE PARTICULARS Air King DEBIT CREDIT BALANCE 1-Jun Beginning balance 25,000 25,000 30 PJ CPJ Schedule of Accounts Payable as at 30 June 2021 DESCRIPTION BALANCE Air King Total4 SydGee Ltd PETTY CASH BOOK VOUCHER DATE DETAILS NO. RECEIPTS |PAYMENTS SUNDRY June 1 Received in advance 200 9 Card board 2 13 Adv Brouchures 3 26 Received reimbursement 30 GJ Balance SydGee Ltd 5 BANK RECONCILIATION As at 30 June 2021 Balance as per bank statement Add: Outstanding deposit 0 Less: Unpresented cheques $ Balance as per Cash at Bank account #VALUE! 6 UNADJUSTED TRIAL BALANCE As at 30 June 2021ACCOUNT DEBIT CREDI' CASH AT BANK PETTY CASH ADVANCE STOCK/ INVENTORY ACCOUNTS RECEIVABLE PREPAID RENT EQUIPMENT ACCUMMULATED DEPRECIATION - EQUIPMENT ACCOUNTS PAYABLE INTEREST PAYABLE BANK LOAN CAPITAL DRAWINGS SALES PURCHASES PURCHASES RETURNS STOCK ON HAND / ENDING INVENTORY DEPRECIATION - EQUIPMENT DISCOUNT EXPENSE ELECTRICITY EQUIPMENT RUNNING COSTS INSURANCE - EQUIPMENT INTEREST OFFICE SUPPLIES Rent Telephone Wages Sundry Expense Air condition gas Bank fees Total G MelSyd Adjusted Trial Balance Trial Balance As at 30 June 2021 ACCOUNT DEBIT CRED CASH AT BANK PETTY CASH ADVANCE STOCK / INVENTORY ACCOUNTS RECEIVABLE PREPAID RENT EQUIPMENT ACCUMMULATED DEPRECIATION - EQUIPMENT ACCOUNTS PAYABLEINTEREST PAYABLE BANK LOAN CAPITAL DRAWINGS SALES PURCHASES PURCHASES RETURNS STOCK ON HAND / ENDING INVENTORY DEPRECIATION - EQUIPMENT DISCOUNT EXPENSE ELECTRICITY EQUIPMENT RUNNING COSTS INSURANCE - EQUIPMENT INTEREST OFFICE SUPPLIES RENT TELEPHONE WAGES SUNDRY BANK SERVICE FEES TOTAL6 SydMel Ltd POST CLOSING TRIAL BALANCE As at 30 June 2021 ACCOUNT DEBIT CRED CASH AT BANK PETTY CASH ADVANCE STOCK / INVENTORY ACCOUNTS RECEIVABLE PREPAID RENT EQUIPMENT ACCUMMULATED DEPRECIATION - EQUIPMENT ACCOUNTS PAYABLE INTEREST PAYABLE BANK LOAN CAPITAL DRAWINGS SALES PURCHASES PURCHASES RETURNS STOCK ON HAND / ENDING INVENTORY DEPRECIATION - EQUIPMENTDISCOUNT EXPENSE ELECTRICITY EQUIPMENT RUNNING COSTS INSURANCE - EQUIPMENT INTEREST OFFICE SUPPLIES RENT TELEPHONE WAGES SUNDRY AIR CONDITION GAS BANK SERVICE FEES TOTAL 7 SydGee Ltd INCOME STATEMENT For the period ended 30 June 2021 $ $ $ REVENUE SALES COST OF SALES Beginning Inventroy Plus Purchases less Ending inventory (to be calculated with assumsions GROSS PROFITEXPENSES SELLING EXPENSES ADMINISTRATIVE EXPENSES FINANCIAL EXPENSES TOTAL EXPENSES NET PROFIT BEFORE INCOME TAX 7 Sdeee Ltd BALANCE SHEET As at 30 June 2021 ASSETS CURRENT ASSETS TOTAL CURRENT ASSETS NON CURRENT ASSETS TOTAL NON-CURRENT ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILITIES TOTAL CURRENT LIABILITIES NON CURRENT LIABILITIES TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITES NET ASSETS EQUITY TOTAL EQUITY NOTE: ALTHOUGH NOT REQUIRED FOR PROPRIETORS ACCOUNTS, STUDENTS MAY SHOW CAPITAL, PROFIT AND DRAWINGS 0N SEPARATE LINES. SydGee Ltd GENERAL LEDGER Co CASH AT BANK PETTY CASH DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg bal 1-Jun Paid in Adance 30-Jun CPJ 26-Jun Reimbursement 30-Jun CRJ 30-Jun Sundry Expenses 30-Jun STOCK / INVENTORY ACCOUNTS RECEIVABLE DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun 1-Jun 30-Jun 30-Jun 30-Jun 30-Jun PREPAID RENT EQUIPMENT DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg balance 1-Jun Beg Balance 30-Jun ACCUMULATED DEPRECIATION - EQUIPMENT ACCOUNTS PAYABLE DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beginning balance 30-Jun 30-Jun 30-Jun INTEREST PAYABLE BANK LOAN DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg balance 71,670 71,670 CAPITAL DRAWINGS DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun 1-Jun 30-Jun SALES STOCK ON HAND / ENDING INVENTORY DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg balance 30-Jun 30-JunPURCHASES PURCHASES RETURNS DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun Beg balance 72,000 72,000 30-Jun A/P 1,400 1,400 30-Jun PJ 33,600 05,600 DEPRECIATION - EQUIPMENT DISCOUNT EXPENSE DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE ELECTRICITY EQUIPMENT RUNNING COSTS DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg bal 1,970 1,970 1-Jun beg balance 1,460 1,460 30-Jun CPJ 320 2,290 INSURANCE - EQUIPMENT INTEREST EXPENSE DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun beg balance 300 300 1-Jun beg balance 1,000 1,000 30-Jun CPJ 350 650 OFFICE SUPPLIES RENT EXPENSE DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun Beginning balance 320 320 1-Jun Beginning balance 5,500 5,500 TELEPHONE WAGES DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 1-Jun Beginning balance 1-Jun Beginning balance 30-Jun 30-Jun SUNDRY BANK SERVICE FEES DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 30-Jun Petty Cash 30-Jun PROFIT & LOSS SUMMARY Air Conditioning Gas Expense DATE PARTICULARS DEBIT CREDIT BALANCE DATE PARTICULARS DEBIT CREDIT BALANCE 30-Jun