FINANCIAL ACCOUNTING

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AN ACCOUNTING PRACTICE SET

ABCDE PTY LTD

Journals

General Journal
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Date	Account	Ref.	Debit	Credit











































General Journal
		Post.
Date	Account	Ref.	Debit	Credit

General Journal
		Post.
Date	Account	Ref.	Debit	Credit

Stock Card

Purchases Sales Balance

DATE	Details	Qty	Per unit	Total $	Qty	Per Unit	Total $	Qty	Per Unit	Total $

General Ledger

CASH AT BANK 100

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Date	Explanation	Ref.	Debit	Credit	Balance

OFFICE SUPPLIES 101

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Date	Explanation	Ref.	Debit	Credit	Balance

ACCOUNTS RECEIVABLE 102

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Date	Explanation	Ref.	Debit	Credit	Balance

ALLLOWANCE FOR DOUBTFUL DEBTS 103

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Date	Explanation	Ref.	Debit	Credit	Balance

INVENTORY 112

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Date	Explanation	Ref.	Debit	Credit	Balance

PREPAID INSURANCE 106

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Date	Explanation	Ref.	Debit	Credit	Balance

OFFICE FURNITURE 160

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Date	Explanation	Ref.	Debit	Credit	Balance

ACCUMULATED DEPRECIATION – OFFICE FURNITURE 161

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Date	Explanation	Ref.	Debit	Credit	Balance

MOTOR VEHICLES 180

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Date	Explanation	Ref.	Debit	Credit	Balance

ACCUMULATED DEPRECIATION – MOTOR VEHICLES 181

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Date	Explanation	Ref.	Debit	Credit	Balance

COMPUTER 186

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Date	Explanation	Ref.	Debit	Credit	Balance

ACCUMULATED DEPRECIATION – COMPUTER 188

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Date	Explanation	Ref.	Debit	Credit	Balance

ACCOUNTS PAYABLE 200

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Date	Explanation	Ref.	Debit	Credit	Balance

TELEPHONE PAYABLE 201

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Date	Explanation	Ref.	Debit	Credit	Balance

GST CLEARING 212

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Date	Explanation	Ref.	Debit	Credit	Balance

WAGES PAYABLE 204

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Date	Explanation	Ref.	Debit	Credit	Balance

LOAN INTEREST PAYABLE 206

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Date	Explanation	Ref.	Debit	Credit	Balance

BANK LOAN 650

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Date	Explanation	Ref.	Debit	Credit	Balance

SHARE CAPITAL 300

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Date	Explanation	Ref.	Debit	Credit	Balance

RETAINED EARNINGS 301

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Date	Explanation	Ref.	Debit	Credit	Balance

SALES REVENUE 400

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Date	Explanation	Ref.	Debit	Credit	Balance

SALES RETURNS AND ALLOWANCES 419

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Date	Explanation	Ref.	Debit	Credit	Balance

INVENTORY GAIN 445

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Date	Explanation	Ref.	Debit	Credit	Balance

INVENTORY LOSS 446

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Date	Explanation	Ref.	Debit	Credit	Balance

COST OF GOODS SOLD 500

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Date	Explanation	Ref.	Debit	Credit	Balance

ADVERTISING EXPENSE 602

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Date	Explanation	Ref.	Debit	Credit	Balance

DEPRECIATION EXPENSE – COMPUTER 603

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Date	Explanation	Ref.	Debit	Credit	Balance

DEPRECIATION EXPENSE – OFFICE FURNITURE 604

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Date	Explanation	Ref.	Debit	Credit	Balance

DEPRECIATION EXPENSE – MOTOR VEHICLES 606

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Date	Explanation	Ref.	Debit	Credit	Balance

RENT EXPENSE 607

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Date	Explanation	Ref.	Debit	Credit	Balance

INSURANCE EXPENSE 608

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Date	Explanation	Ref.	Debit	Credit	Balance

OFFICE SUPPLIES EXPENSE 609

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Date	Explanation	Ref.	Debit	Credit	Balance

TELEPHONE EXPENSE 611

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Date	Explanation	Ref.	Debit	Credit	Balance

WAGES EXPENSE 612

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Date	Explanation	Ref.	Debit	Credit	Balance

MOTOR VEHICLE EXPENSE 613

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Date	Explanation	Ref.	Debit	Credit	Balance

LOAN INTEREST EXPENSE 614

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Date	Explanation	Ref.	Debit	Credit	Balance

BAD DEBT EXPENSE 615

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Date	Explanation	Ref.	Debit	Credit	Balance

ABCDE PTY LTD

Adjusted Trial Balance

As at 31st JULY 2017

	$	$
Current Assets





Non-Current Assets




Current Liabilities




Non-Current Liabilities


Equity



Revenue




Expenses

ABCDE PTY LTD

Income Statement

for the month ending 31st JULY 2017






Gross Profit




Adjusted Gross Profit
Add: Other revenue


Less: EXPENSES














TOTAL EXPENSES

ABCDE PTY LTD

Statement of Financial Position

as at 31st JULY 2017

Current Assets





TOTAL CURRENT ASSETS
Non-Current Assets




TOTAL NON-CURRENT ASSETS
TOTAL ASSETS

Current Liabilities



TOTAL CURRENT LIABILITIES

Non-Current Liabilities:

TOTAL LIABILITIES
CAPITAL
RETAINED EARNINGS

TOTAL LIABILITIES AND CAPITAL

Assessment 1

Individual Assignment Case Study Page 11