南航校花陈都灵泳装,0元购机,恶龙军团优等生3
| 澳大利亚悉尼科技大学留学生作业会计 Naibuka owns and operates a consulting business. On June 1, 2011 his ledger showed the following account balances. Ignore the effects of GST for this question. Cash Prepaid Rent Supplies Accounts Receivable Interest Receivable Land Salaries Expense Advertising Expense 55,000 7,000 13,000 25,000 - - - - 100,000 Accounts Payable Mortgage Contributed equity Retained earnings Consulting Service Revenue Electricity Expense Supplies Expense Interest Revenue 8,000 6,000 56,000 30,000 - - - - 100,000 The following transactions occurred in June: 1. Naibuka contributed $30,000 Cash and a plot of Land work $170,000 to the business. 2. Collected $10,000 on account (accounts receivable) from a customer. 3. Billed customer for consulting services on account $15,000. 4. Carried out consulting services for a customer, receiving cash $8,000. 5. Purchased supplies on credit $5,000. 6. Earned $1,500 interest, which will be collected in July. 7. Paid $3,500 to creditor (accounts payable) on account. 8. Paid June’s salaries $6,000. 9. Received an invoice for June’s advertising expense to be paid in August $9,600. 10. Sold supplies that cost $500 to a friend at a cost of $500. 11. Naibuka withdrew $200,000 from the business for personal use. 12. Received electricity bill for the electricity used in June $4,400 and paid it. 13. Purchased land $250,000 by arranging a mortgage with the bank 14. Recorded rent expense for June is $3,500 (note - on June 1, two months' rent of $7,000 was prepaid). 15. Counted supplies on hand June 30, $1,500 remained (remember transactions ‘5’ and ‘10’ above as well as the opening balance). Required A. Record the above transactions in a general journal using only the ledger accounts given. B. Post to the ledger, (remembering first to enter the opening balances). 3 Question 8 For each of the following independent situations and from the information below record the adjusting entries in the General Journal, being as precise with your account titles as possible, e.g. not using “supplies” but “supplies expense” or “supplies on hand”. Please ignore GST except in question (i). i. When supplies are purchased they are recorded as an asset. Calculations after an end of period stock-take revealed a closing stock (balance) of $25,000. There was an opening balance of $20,000 and during the period $27,500 (including GST) of supplies were purchased. Record the adjusting entry. ii. At Thulaisi Enterprises, salaries are paid fortnightly on Friday afternoon. The fortnightly salary bill is $60,000 for the ten-day working fortnight. This accounting period ends on the Thursday evening in the week in which the salaries are paid. Record the adjusting entry. |
