Transactions

April

$1$ Paid Jones Property management $$6864($GST inclusive$)$ rent for period $1$ April to $31$

July $2024.[$Chq$\mathrm{.}220]$

$2$ Credit sale Prime Designs: $2$ umbrella & $2$ outdoor lounges. Great Outdoors charged

$$70$ for delivery to Prime Designs. $[$Inv$\mathrm{.}541]$

$2$ Paid for printing to Officeworks $$429($GST inclusive$).[$Chq$\mathrm{.}221]$

$3$ Credit purchase of $5$ outdoor lounges. $[$P$.$O$\mathrm{.}401]$

Paid delivery van fuel expenses $$517($GST inclusive$)$ to Graham Motors. $[$Chq$\mathrm{.}222]$

$3$ Prime Designs paid the balance owing on $1$ April.

$4$ Purchased new computer for $$5280($GST inclusive$)$ from Ace Computers paying $$500$

deposit and the remainder over $2$ years $\{$Chq$\mathrm{.}223]$ The computer is expected to have a

useful life of $4$ years with $0$ residual value.

$4$ Credit sale to ABC Trading: $3$ outdoor tables, $3$ outdoor chair sets and $2$ outdoor

lounges. Great Outdoors charged $$70$ for delivery to ABC Trading. $[$Inv$\mathrm{.}542]$

$5$ Credit purchase from $5$ outdoor tables, $5$ outdoor chair sets and $2$ outdoor lounges.

$[$P$.$O$\mathrm{.}402-1,$ P$.$O$\mathrm{.}402-2]$

Paid Tru Energy the electricity expense owing. $[$Chq$\mathrm{.}224]$

$6$ Credit purchase of $6$ umbrellas. $[$P$.$O$\mathrm{.}403]$

$7$ Paid Sarah Tomkins for $15$ hours work plus the amount owing on $1$ April $[$Chq$\mathrm{.}225]$; paid

James Lee for $20$ hours work plus the amount owing on $1$ April. $[$Chq$\mathrm{.}226]$

$7$ Great Outdoors purchased restoration materials and supplies on credit from XYZ

Merchants $($ABN $74222233334)$ for $$1771($GST inclusive$).$ This is recorded in a

separate account to the purchase of inventory.

$8$ Cash sales: $1$ outdoor table, $1$ outdoor chair set,$1$ outdoor lounge and $1$ umbrella.

$($Inv$.$S$411]$

$9$ Paid monthly loan payment to Metropolitan Bank. Great Outdoors paid an additional $$1$

$500$ off the loan principal. $[$Chq$\mathrm{.}227]$

$10$ Paid Franks Furniture the balance owing on $1$ April and received a $5\%$ discount. $($Note:

In Xero record this as a credit note$).[$Chq$\mathrm{.}228]$

$11$ Paid Ajax Importers for the inventory purchased on $5$ April. $[$Chq$\mathrm{.}229]$

$11$ Andrew withdrew $$1200$ for personal use. $[$Chq$\mathrm{.}230]$

$12$ ABC Trading paid the balance owing on $1$ April.

$12$ Credit purchase: $5$ outdoor tables, $5$ outdoor chair sets and $5$ umbrellas.

$[$P$.$O$\mathrm{.}404-1,$ bP$.$O$\mathrm{.}404-2]$

$14$ Andrew notices that $1$ outdoor table is damaged and returns it to the supplier and

receives a credit note for the full cost of the outdoor table. The table was purchased on

$12$ April. $[$CR$12]$

$15$ Received payment for $9$ hours restoration services.

$15$ Credit sale to Prime Designs: $3$ outdoor tables, $3$ outdoor chair sets, $1$ outdoor lounge

and $2$ umbrellas. Great Outdoors charged $$70$ for delivery to Prime Designs. $[$Inv$\mathrm{.}543]$

$16$ Paid Highland Manufacturers the balance owing on $1$ April and for inventory purchased

on $6$ April. $[$Chq$\mathrm{.}231]$

$17$ Credit sale: to ABC Trading: $2$ outdoor tables, $3$ umbrellas. $[$Inv$.544]$

$19$ Credit purchase: $6$ outdoor tables, $6$ outdoor chairs, $3$ umbrellas, $2$ outdoor lounges.

$[$P$\mathrm{.}0\mathrm{.}405-1,$ P$.$O$\mathrm{.}405-2,$ P$.$O$\mathrm{.}405-3]$

$20$ Cash sale: $2$ outdoor chair sets, $1$ outdoor lounge, $2$ umbrellas. $\{$Inv$.$S$412]$

Page $5$ of $8$

$20$ Received payment for $15$ hours restoration and repair work.

$21$ Paid telephone expenses of $$682($GST inclusive$).[$Chq$\mathrm{.}232]$

$22$ ABC Trading paid for inventory purchased on $4$ April.

$23$ Paid Sarah Tomkins and James Lee for $30$ hours each worked. $[$Chqs$\mathrm{.}233$ and $234].$

$24$ Paid Garden Wholesalers $$7500.[$Chq$\mathrm{.}235]$

$24$ Credit sale to Prime Designs: $3$ outdoor tables, $2$ outdoor chairs and $2$ umbrellas. Great

Outdoors charged Prime Designs $$70$ for delivery. $[$Inv$\mathrm{.}545]$

$25$ Paid Ajax the balance owing $1$ April. $[$Chq$\mathrm{.}236]$

$26$ Prime Designs returned $1$ outdoor table purchased on $24$ April. These were undamaged

and returned to inventory. $[$SR$24]$

$26$ Credit purchase of $6$ umbrellas. $[$P$.$O$.405]$

$27$ Paid delivery van expenses $$539($GST inclusive$)$ to Graham Motors. $[$Chq$\mathrm{.}237]$

Cash sale: $1$ outdoor lounge and $1$ umbrella. As the table was slightly damaged a

discount of $25\%$ was given for the outdoor lounge. $[$Inv$.$S$413].$

$28$ Received a $20\%$ deposit for a outdoor table and chair set from a new customer, Jane

King for delivery in May $2024.$ The transaction excludes GST$.$

$29$ Credit sale to ABC Trading: $2$ lounges and $2$ umbrellas. $[$Inv$\mathrm{.}546]$

$30$ Andrew withdrew $$1250$ for personal use. $[$Chq$\mathrm{.}238]$

$30$ The bank statement for April shows that bank fees of $$48$ have been charged to Great

Outdoors.

Adjustments at $30$ April:

$$ The delivery van is depreciated at $15\%$ per year straight line depreciation.

$$ Shop fittings are depreciated at $10\%$ per year straight line depreciation.

$$ Wages owing at $30$ April: Sarah Tomkin $10$ hours, James Lee $10$ hours.

$$ Great Outdoors is owed for $8$ hours of restoration and repair work.

$$ Restoration and repair materials on hand at $30$ April is $$786.$

$$ A physical stock$-$take at $30$ April showed the following items of inventory were on hand:

$$ Outdoor tables $10$

$$ Outdoor chair sets $11$

$$ Outdoor lounges $9$

$$ Umbrellas $12$

Page $6$ of $8$

Required:

Part A: Manual recording

$1.$ Record the opening balances and transactions for April in the appropriate general and$/$or

special journal$/$s for and post all t