The following transactions were recorded in the General Journal of Hudson Supplies:

General Journal of Hudson Supplies

Date Details Debit Credit

1/11 Cash at bank 31,000

Inventory 10,000

Machinery 9,500

Motor vehicle 8,000

Capital 58,500

Commencement of business

4/11 Office equipment 12,600

GST Receivable 1,260

Accounts Payable Control 13,860

Purchased office equipment on credit from

Real Services

8/11 Inventory 6,660

GST Receivable 666

Accounts Payable Control 7,326

Purchased inventory on credit from

Simpson Pty Ltd

10/11 Cash at bank 7,150

Sales 6,500

GST Payable 650

Sold goods for cash

Cost of goods sold 2,900

Inventory 2,900

Cost of sales

11/11 Wages 3,495

Cash at bank 3,495

Paid wages

Accounts Payable Control 7,326

Cash at bank 7,326

Paid A/c Payable - Simpson Pty Ltd

6 LA023517 Assessment 3, FNSACC311, Ed 2 & 3

New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, June 2018

21/11 Accounts Receivable Control 4,125

Sales 3,750

GST Payable 375

Sold goods on credit to Simic Ltd

Cost of goods sold 800

Inventory 800

Cost of sales

25/11 Inventory 1,200

GST Receivable 120

Cash at bank 1,320

Purchased inventory for cash

29/11 Cash at bank 4,125

Accounts Receivable Control 4,125

Amount received from Simic Ltd

Required

For the above General Journal entries:

1. Post the transactions to the general ledger.

2. Balance each general ledger T - account.

3. Prepare Trial Balance.

Task 3 35 Marks The following transactions were recorded in the General Journal of Hudson Supplies: General Journal of Hudson Supplies Date 1/11 Details Cash at bank Debit 31,000 Inventory 10,000 Machinery 9,500 Motor vehicle 8,000 Capital Credit 58,500 Commencement of business 4/11 Office equipment 12,600 GST Receivable 1,260 Accounts Payable Control 13,860 Purchased office equipment on credit from Real Services 8/11 Inventory GST Receivable 6,660 666 Accounts Payable Control 7,326 Purchased inventory on credit from Simpson Pty Ltd 10/11 Cash at bank 7,150 Sales 6,500 GST Payable 650 Sold goods for cash Cost of goods sold 2,900 Inventory 2,900 Cost of sales 11/11 Wages 3,495 Cash at bank 3,495 Paid wages Accounts Payable Control 7,326 Cash at bank 7,326 Paid A/c Payable - Simpson Pty Ltd LA023517 Assessment 3, FNSACC311, Ed 2 & 3 New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, June 2018 5 21/11 Accounts Receivable Control 4,125 Sales 3,750 GST Payable 375 Sold goods on credit to Simic Ltd Cost of goods sold 800 Inventory 800 Cost of sales 25/11 Inventory 1,200 GST Receivable 120 Cash at bank 1,320 Purchased inventory for cash 29/11 Cash at bank 4,125 Accounts Receivable Control 4,125 Amount received from Simic Ltd Required For the above General Journal entries: Post the transactions to the general ledger. Balance each general ledger T - account. Prepare a Trial Balance. 6 LA023517 Assessment 3, FNSACC311, Ed 2 & 3 New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, June 2018