Student Name: Not assigned

Instructor: Roxanne Stewart

Template Development Mode

Instructions:

Begin by Enabling Content (if asked), as well as saying that it is a trusted document (if asked)
Each sheet has its own individual transaction list for you to make your choices from
You will most likely need to adjust and re-adjust your Chart of Accounts as you select the transactions that you
are wanting to use
Please note that if you need some guidance, the Accounting Package can be used as a reference
Again, you are required to use this file
)

ansactions that you

ence
 Account Account
Account Number Account Number

Assets Revenue
cash in hand 10000 by subscription 10000
machiner 10000 by donation received 10000
furniture 5000 by grant received 10000
land and building 5000
goodwill 30000
total 30000

Expenses
total 60000 to repair of furniture 10000
to dep 5000
Liabilities to bad debts 5000
capital 20000 to loss on sale 10000
outstanding wages 10000
outstanding salary 10000
bank overdraft 10000
total 30000

Owner's Equity
share capital 10000

total 60000
JOURNAL Page
Date Account Title and Explanation PR Debit Credit
1/1/2021 CASH A/C ______DR. 100000
TO OWNERS CAPITAL A/C 100,000
(BEING OWNERS MONEY IVESTED)

1-Jan PRPAID RENT A/C ______DR. 600

TO CASH A/C. 600
(BEING RENT PAID FOR 3MONTHS IN
ADVANCE)

XXX NO ENTRY……. NIL NIL

(BEING SERVICE PERFORMED BUT WILL BW PAID LATER)

2.2.2021 OFFICE SUPPLIED A/C _____DR. 5,000

TO CASH A/C. 5,000
(BEING OFFICE SUPPLIES PURCHASED)

1.3.2021 SEVICE PROVIDER A/C______DR. 1,200

TO CASH A/C 1,200
(BEING SERVICE PAID)

1.4.2021 BANK A/C _____DR. 50,000

TOLOAN A/C 50,000
(BEING BANK LOAN TAKEN0

2.4.2021 DRAWINGS A/C ______DR. 5,000

TO CASH A/C 5,000
(BEING WITHDRAW MONEY FOR PERSONAL USE)

1.5.2021 NO ENTRY………. NIL NIL

(BEING RECUIVEDA MAINTAINENCE BILL TO BE PAID
LATER)

15.5.2021 OFFICE SUPPLY A/C ______DR. 1,500

TOBANK A/C 1,500
( PURCHASED OFFICE SUPPLY)

1.6.2021 MACHINERY A./C ____ DR. 25,000

TO BANK A/C 25,000
( BEING MACHINERY PURCHASED)
Advise the amounts that you will be using to establish your company’s information.
You will start with NO opening balances.
1,00,000 Owner Invested money into the business
600 Prepaid for 3-months of rent
- Performed services but will be paid later
5,000 Purchased office supplies and paid at vendor
1,200 Was paid for services to be performed later
50,000 Took out a bank loan
5,000 Owner withdrew money from the business
- Received a maintenance bill to be paid later
1,500 Purchased office supplies on account
25,000 Purchased machinery from a portion of the loan above
JOURNAL Page
Date Account Title and Explanation PR Debit Credit
1.1.2021 accounts receivable 10,000
sales revenue 10,000

1.1.2021 C.O.G.S expense 3,500

purchases 3,500

1.1.2021 sales enttry and allowance 2,000

cash 2,000
1,000
1.1.2001 sales return and allowances 1,000
account receivable
500
INVENTORY 500
C.O.G.S
You have made a sale to a customer, and there were some issues with the
order that they received. Make the following adjustments:

1,000 Made sales of product to customer on account

Your cost of the inventory that you sold
Customer return some damaged product that cannot be returned to stock
Customer return some product that was returned to stock
Your cost for the inventory that was returned to stock
Calculate the new value of the invoice with all discounts applied
Discount percentage given for early payment (enter as a decimal)
Calculate the discount received for early payment
Customer made payment in this amount
JOURNAL Page
Date Account Title and Explanation PR Debit Credit
1.1.2021 RASINS FOR COOKING A/C ____DR. 1000
TOCASH A/C 1,000
( BEING RASINS FOR COOKIES PURCHASED)

1.1.2021 TABLECLOTH A/C ______DR. 500

TO CASH A/C 500
( BEING TBLECLOTH PURCHASED)

1.1.2021 GARBAGE PAIL A/C _________DR. 500

TO CASH A/C 500
( BEING GARBAGE PAIL PURCHASED)

1.1.2021 BANDAGES A/C __________DR. 1,000

TO CASH A/C 1,000
( BEING BANDAGES RESTOCKED)

1.1.2021 LCBO A/C __________DR. 2,000

TO CASH A/C 2,000
( BEING LCBO RESTOCKED)
Choose 5 transactions to use for Petty Cash to pay for some minor transactions. The employees that you use is
completely up to you. You are in charge of the petty cash and thus the authorizor for all transactions. Have a discrepancy
between the Final Balance and the Cash on Hand
Need to establish the account first - does NOT count as one of your five transactions
Needed some raisins for the cookies you are making
Went to Swish for some paper towels until the order comes in next week
Had some tablecloths washed at the local laundromat
Kevin was goofing around in the kitchen and broke a garbage pail. Went to Swish to replace.
Restocked bandages for the First Aid kit when Karl cut himself slicing carrots.
Had a clearning service service tidy up the store front
Went to the LCBO to restock some liquor until the order comes in

PETTY CASH LOG REPORTING PERIOD

FROM 1.1.2021
TO 31.12.2021

PAID TO / APPROVED
DATE PURPOSE RECEIPT AMOUNT BALANCE
RECEIVED FROM BY

1.1.2021 20000 BEGINNING BALANCE

1.1.2021 BY RASINS FOR COOKING A/C 1,000.00
1.1.2021 BY TABLECLOTH A/C 500.00
1.1.2021 BY GARBAGE PAIL A/C 500.00
1.1.2021 BY RESTOCKING OF BANDAGES 1,000.00
1.1.2021 BY RESTOCKING OF LCBO A/C 2,000.00
31.12.2021 BY BALANCEC/D 15,000.00

TOTAL 15,000.00

PETTY CASH RECONCILIATION FINAL BALANCE 15,000.00

CASH ON HAND 20,000.00
DIFFERENCE 5,000.00
PETTY CASH REIMBURSEMENT 5,000.00
BALANCE FORWARD 15,000.00
Record the following transactions that occurred for the month. Some affect your Bank Statement - some affect yo
Zero balances to begin (transactions not necessarily related to what you have already recorded)
3 customer payments (have one of the amounts be the invoice that was paid from your calculations)
Customer payment from above being returned NSF
4 Cheques that were written and only 3 were cashed (one remains outstanding)
An EFT that was processed without being recorded in your Ledger
Outstanding deposit
Additional Bank Charges
Interest earned for the period

BANK LE
Date Description Withdrawl Deposit Balance Account:
1.1.2021 BY CUSTOMER A/C 5,000 5,000 Date Description
1.1.2021 TO SUPPLIERA/C 2,000 NIL 3,000 1.1.2021 TO BANK A/C
1.1.2021 BY RECEIVER A/C NIL 2,000 5,000 1.1.2021 BY BANK A/C
1.1.2021 BY CASH A/C NIL 1,000 6,000 1.1.2021 TO BANK A/C
1.1.2021 BY BANK CHARGES A/C 50 XXX 5,950 1.1.2021 TO BANK A/C
1..1.2021 TO INTRST /C XXX 60 6,010 1.1.2021 TO BANK A/C
1.1.2021 BY BANK A/C

JOURNAL Page
Date Account Title and Explanation PR Debit Credit
1.1.2021 CUSTOMER A/C DR. 5000
TO BANKL A/C 5,000

1.1.2021 BANK A./C DR,. 2,000

TO SUPPLIER A/C 2,000

1.1.2021 RECIEVER A/C DR. 2,000

TO BANK A/C 2,000

1.1.2021 CASH A/C DR. 1,000

TO BANK A/C 1,000

1.1.2021 BANK CHARGES A/C DR. 50

TO BANK A/C 50
1.1.2021 BANK A/C DR. 60
TO INTEREST A/C 60
Statement - some affect your Ledger

LEDGER
GL No:
Description DR CR Balance
TO BANK A/C 5,000 NIL
BY BANK A/C NIL 3,000
TO BANK A/C 2,000 NIL
TO BANK A/C 1,000 NIL
TO BANK A/C 50 NIL
BY BANK A/C NIL 60
Account: cash a/c GL No: 1
Date Description PR DR CR Balance
1-Jan To capital a/c 2,00,000
1-Jan By bank a/c 40,000
1-Jan by furniture a/c 10,000
1-Jan by building a/c 50,000
1-Jan by machinery a/c 20,000
1-Jan by purchases a/c 2,000
4-Jan by printing & stationery a/c 300
15-Jan to sales a/c 9,000
20-Jan by wages a/c 500
24-Jan to sohan & co. 3,700
25-Jan by bank a/c 6,000
29-Jan by repair a/c 700
30-Jan to mukesh a/c 4,500
31-Jan by drawing a/c 500
31-Jan by bal c/d 94,200

Account: bank a/c GL No: 2

date Description PR DR CR Balance
1-Jan to cash a/c 40,000
1-Jan by rent a/c 1,000
23-Jan by ram a/c 8,000
25-Jan to cash a/c 6,000
28-Jan by advertisement a/c 1,000
31-Jan by bal. c/d 36,000

Account: capital a/c GL No: 3

Date Description PR DR CR Balance
1-Jan by cash a/c 2,00,000
31-Jan to bal. c/d 2,00,,000
Account: furniture a/c GL No: 4
Date Description PR DR CR Balance
31-Jan to cash a/c 10,000
31-Jan by bal. c/d 10,000

Account: building a/c GL No: 5

Date Description PR DR CR Balance
31-Jan to cash a/c 15,000
31-Jan by bal.c/d 15,000

Account: machinery a/c GL No: 6

Date Description PR DR CR Balance
31-Jan to cash a/c 20,000
31-Jan by bal. c/d 20,000

Account: rent a/c GL No: 7

Date Description PR DR CR Balance
1-Jan to bank a/c 1,000
31-Jan by bal. c/d 1,000
Account: sales a/c GL No: 9
Date Description PR DR CR Balance
2-Jan by sohan a/c 3,800
11-Jan by mukesh a/c 9,000
15-Jan by cash a/c 9,000
24-Jan by cash a/c 7,000
31-Jan to bal. c/d 28,800

Account: sohan & co. GL No: 10

Date Description PR DR CR Balance
1-Jan by cash a/c 3,700
1-Jan by discount a/c 100
2-Jan to sales a/c 3800

Account: printing & stationery a/c GL No: 11

Date Description PR DR CR Balance
4-Jan to cash a/c 300
31-Jan by bal. c/d 300

Account: ram singh a/c GL No: 12

Date Description PR DR CR Balance
7-Jan by purchases a/c 17,000
23-Jan to bank a/c 8,000
31-Jan to bal. c/d 9,000

Account: mukesh a/c GL No: 13

Date Description PR DR CR Balance
11-Jan to sales a/c 9,000
30-Jan by cash a/c 4,500
30-Jan by bad debts a/c 4,500

Account: wages a/c GL No: 13

Date Description PR DR CR Balance
20-Jan to cash a/c 500
31-Jan by bal. c/d 500
Account: discount a/c GL No: 14
Date Description PR DR CR Balance
21-Jan to sohan a/c 100
31-Jan by bal. c/d 100

Account: advertisement a/c GL No: 15

Date Description PR DR CR Balance
28-Jan to bank a/c 1,000
31-Jan by bal. c/d 1,000

Account: repair a/c GL No: 16

Date Description PR DR CR Balance
29-Jan to cash a/c 700
31-Jan by bal. c/d 700

Account: bad debts a/c GL No: 17

Date Description PR DR CR Balance
30-Jan to mukesh a/c 4,500
31-Jan by bal. c/d 4,500

Account: drawings a/c GL No: 18

Date Description PR DR CR Balance
31-Jan to cash a/c 500
31-Jan by bal. c/d 500

Account: GL No:
Date Description PR DR CR Balance

Account: GL No:
Date Description PR DR CR Balance
Account: GL No:
Date Description PR DR CR Balance

Account: GL No:
Date Description PR DR CR Balance

Account: GL No:
Date Description PR DR CR Balance
particulars dr cr
capital 50000
cash in hand 5000
bill payable 15000
bill receivable 10000
purchase 30000
opening stock 10000
creditors 10000
sales 10000

total 70000 70000