Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Task 3: Posting to General Journal To complete this assignment, you will need to enter the following transactions and communicate your manager (Trainer) for approval

image text in transcribed
image text in transcribed
Task 3: Posting to General Journal To complete this assignment, you will need to enter the following transactions and communicate your manager (Trainer) for approval on these joumals for April 2016 into General journal Process the joumal entries for the following transactions in the Journal worksheet provided [Hint] Total debits and credits are $14,330.00 Date Details Amount (inc. GST where applicable) 2/4/2016 Durable Pty Ltd receives a cheque (no 683) from Perth 650.00 News. The cheque is attached to a remittance advice that refers to invoice 1638 issued by Durable Pty Ltd in 12/4/06. Perth News is paying the balance of its account 3/4/2016 Durable Pty Ltd issues Invoice 1692 and stock to News 1025.00 Plus relating to its order dated 14/4/05 for magazines 3/4/2016 Stock Couriers sends Invoice 12204 to Durable Pty Ltd 465.0 requesting payment for the previous month's delivery 5/4/2016 News Plus Contacts Durable Pty Ltd as it has been 65.00 incorrectly charged. Durable Pty Ltd issues an adjustment notice (no. 54) to News Plus for the incorrect amount on Invoice 1692 issued 3/4/2016. 7/4/2016 Durable Pty Ltd receives Invoice 1224 from Office World 2500.00 for office furniture received on 30/4/06. 9/4/2016 Durable Pty Ltd issues cheque no 533 to Hibberd & Co for 1050.00 automatic monthly rent payment for its rented warehouse premises 9/4/2016 Durable Pty Ltd receives a cheque (no. 7542) from News 960.00 Plus to pay the balance of its account. 20/4/2016 Durable Pty Ltd receives 750 copies of NERO (stock) from 2250.00 Nero Publishing along with Tax Invoice 887 20/4/2016 Durable Pty Ltd paid Office World via cheque no 534 to 2500.00 pay Invoice no 1224 20/4/2016 Durable Pty Ltd paid Stock Couriers via Visa Credit card to 465.00 pay the balance of Invoice no. 12204 20/4/2016 Durable Pty Ltd paid Nero Publishing via cheque 535 to 2250.00 31/4/2016 150.00 pay Tax Invoice 887 The Senior Accounts Officer authorises the drawing of cheque 536 to create a petty cash impress (sufficient to cover the next fortnight's expenditure from the Petty Cash.) Posting to the General Ledger At the end of each month, you are required to post the journal entries to the general ledger. Complete the following tasks for Durable Pty Ltd 1. Post the journal entries to the general ledger accounts in the Ledger worksheet. 2. Total each of the account balances in the General ledger? Prepare a Trial Balance Prepare a Trial balance in the Trial Balance worksheet for all active general ledger accounts for the month ending 30" April 2016 for Durable Pty Ltd. (Hint Total debits and credits are $6474.10)

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Kurt Heisinger, Joe Ben Hoyle

1st Edition

1453345299, 9781453345290

More Books

Students also viewed these Accounting questions

Question

What would you do?

Answered: 1 week ago