An Accounting Practice Set

AN ACCOUNTING PRACTICE SET

ABCDE PTY LTD

Journals

General Journal
Post.
Date / Account / Ref. / Debit / Credit
General Journal
Post.
Date / Account / Ref. / Debit / Credit

MAA261 Individual Assignment Case StudyPage 1

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 BANK100

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

OFFICE SUPPLIES 101

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ACCOUNTS RECEIVABLE102

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ALLLOWANCE FOR DOUBTFUL DEBTS103

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

INVENTORY 112

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

PREPAID INSURANCE106

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

OFFICE FURNITURE 160

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ACCUMULATED DEPRECIATION – OFFICE FURNITURE161

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

MOTOR VEHICLES 180

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ACCUMULATED DEPRECIATION – MOTOR VEHICLES181

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

COMPUTER186

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ACCUMULATED DEPRECIATION – COMPUTER188

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ACCOUNTS PAYABLE 200

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

TELEPHONE PAYABLE201

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

GST CLEARING 212

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

WAGES PAYABLE204

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

LOAN INTEREST PAYABLE206

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

BANK LOAN650

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

SHARE CAPITAL300

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

RETAINED EARNINGS 301

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

SALES REVENUE400

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

SALES RETURNS AND ALLOWANCES419

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

INVENTORY GAIN445

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

INVENTORY LOSS446

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

COST OF GOODS SOLD500

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ADVERTISING EXPENSE602

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

DEPRECIATION EXPENSE – COMPUTER603

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

DEPRECIATION EXPENSE – OFFICE FURNITURE604

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

DEPRECIATION EXPENSE – MOTOR VEHICLES606

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

RENT EXPENSE607

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

INSURANCE EXPENSE 608

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

OFFICE SUPPLIES EXPENSE609

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

TELEPHONE EXPENSE611

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

WAGES EXPENSE612

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

MOTOR VEHICLE EXPENSE613

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

LOAN INTEREST EXPENSE614

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

BAD DEBT EXPENSE615

Post.
Date / Explanation / Ref. / Debit / Credit / Balance

ABCDE PTY LTD

AdjustedTrial Balance

As at 31stJULY 2017

$ / $
Current Assets
Non-Current Assets
Current Liabilities
Non-Current Liabilities
Equity
Revenue
Expenses

ABCDE PTY LTD

Income Statement

for the month ending 31stJULY 2017

Gross Profit
Adjusted Gross Profit
Add: Other revenue
Less: EXPENSES
TOTAL EXPENSES

ABCDE PTY LTD

Statement of Financial Position

as at 31stJULY 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

MAA261 Individual Assignment Case StudyPage 1