Accounting Information And Transactions Of Perfecto Coffee In November

Cash at Bank         Account Number: 110
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance   18835      
30-Nov Total Cash Receipts CRJ 41046   22211  
  Total Cash Payments CPJ 14465     26581

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Accounts Receivable         Account Number: 120
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance   16140      
30-Nov Total Credit Purchase SJ 39075   22935  
  Total Cash Receipts CRJ 22650     16425
Allowance for Doubtful Debts         Account Number: 121
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     646    
30-Nov New Bad Debt  GJ   1359   713
Prepaid Insurance         Account Number: 130
Date Details Post ref Debit Credit Dr Cr
1-Nov Insurance paid in Advance CPJ 2000   2000  
30-Nov Insurance Expired GJ 1600     400
Prepaid Rent         Account Number: 140
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance   3000      
30-Nov Rent Expired GJ 1500     1500
Office Supplies         Account Number: 150
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance   950      
6-Nov Cash Purchase of Office Supplies CPJ 1250   300  
30-Nov Supplies Consumed GJ 650     600
Inventory         Account Number: 160
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance   19000      
30-Nov Total credit Purchase PJ 34890   15890  
  Total cash sales CRJ 31690     3200
  Total credit sales SJ 20050     11640
Delivery Van         Account Number: 180
Date Details Post ref Debit Credit Dr Cr
30-Nov Van purchased on credit PJ 30000   30000  
      30000      
Accumulated Depreciation – Delivery Van         Account Number: 181
Date Details Post ref Debit Credit Dr Cr
30-Nov Depreciation Charged GJ   200   200
        200    
Accounts Payable         Account Number: 200
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     16995    
30-Nov Total Credit Purchase PJ   67474   50479
  Total Cash Repayment CPJ   50479 16995  
Wages Payable         Account Number: 220
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     377    
9-Nov Due Wages Paid CPJ   0 377  
30-Nov Accrued Wages GJ   880   880
GST Clearing         Account Number: 230
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     1045    
30-Nov Total Cash Receipts CRJ   1595   550
  Total Sales Discounts CRJ   1569 26  
  Total Credit Sales SJ   3654   2085
  Total Cash Payments CPJ   3389 265  
  Total Credit Purchase PJ 1200   4589  
Superannuation Payable         Account Number: 250
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     756    
23-Nov Due Superannuation paid CPJ   0 756  
30-Nov Superannuation Due GJ   871   871
Capital         Account Number: 300
Date Details Post ref Debit Credit Dr Cr
1-Nov Opening Balance     38106    
30-Nov Income Summary GJ13   40676.73   2570.73
  Drawings GJ13   38326.73 2350.00  
Drawings         Account Number: 310
Date Details Post ref Debit Credit Dr Cr
16-Nov Cash Withdrawl CPJ 2350   2350  
30-Nov Capital GJ13 0     2350
Income Summary         Account Number: 350
Date Details Post ref Debit Credit Dr Cr
30-Nov Total Revenue GJ13   26372   26372.00
  Total Expenses GJ13   2570.73 23801.27  
  Capital  GJ13   0.00 2570.73  
Sales Revenue         Account Number: 410
Date Details Post ref Debit Credit Dr Cr
30-Nov Total Cash Sales CRJ   5500   5500
  Total Credit Sales SJ   23350   17850
  Closing Entry GJ13   0 23350  
Sales Discounts         Account Number: 412
Date Details Post ref Debit Credit Dr Cr
30-Nov Total Sales Discounts CRJ 260   260  
  Closing Entry GJ13 0     260
Service Revenue         Account Number: 415
Date Details Post ref Debit Credit Dr Cr
30-Nov Total Service Revenue SJ   3000   3000
  Closing Entry GJ13   0 3000  
Interest Revenue         Account Number: 420
Date Details Post ref Debit Credit Dr Cr
30-Nov Interest from Bank CRJ   22   22
  Closing Entry GJ13   0 22  
Cost of Sales         Account Number: 500
Date Details Post ref Debit Credit Dr Cr
30-Nov Total Cash sales CRJ 3200   3200  
  Total Credit sales SJ 14840   11640  
  Closing Entry GJ13 0     14840
Bad Debts Expense         Account Number: 512
Date Details Post ref Debit Credit Dr Cr
30-Nov Bad Debt Expenses GJ 713   713  
  Closing Entry GJ13 0     713
Bank Charges         Account Number: 515
Date Details Post ref Debit Credit Dr Cr
30-Nov Bank Charges paid CPJ 40   40  
  Closing Entry GJ13 0     40
Depreciation Expense – Delivery Van         Account Number: 521
Date Details Post ref Debit Credit Dr Cr
30-Nov Depreciation on Van GJ 200   200  
  Closing Entry GJ13 0     200
Electricity and Gas Expense         Account Number: 530
Date Details Post ref Debit Credit Dr Cr
22-Nov Electricity & Gas Expenses Paid CPJ 355   355  
  Closing Entry GJ13 0     355
Insurance Expense         Account Number: 540
Date Details Post ref Debit Credit Dr Cr
30-Nov Insurance Expense for the month GJ 400   400  
  Closing Entry GJ13 0     400
Office Supplies Expense          Account Number: 560
Date Details Post ref Debit Credit Dr Cr
30-Nov Office Supplies Expenses GJ 600   600  
  Closing Entry GJ13 0     600
Rent Expense          Account Number: 565
Date Details Post ref Debit Credit Dr Cr
30-Nov Rent Expenses GJ 1500   1500  
  Closing Entry GJ13 0     1500
Superannuation Expense          Account Number: 570
Date Details Post ref Debit Credit Dr Cr
30-Nov Superannuation Expenses GJ 871   871  
  Closing Entry GJ13 0     871
Wages Expense         Account Number: 590
Date Details Post ref Debit Credit Dr Cr
9-Nov Fortnighly Wages Paid CPJ 1383   1383  
23-Nov Fortnighly Wages Paid CPJ 3143   1760  
30-Nov Wages Due GJ 4023   880  
  Closing Entry GJ13 0     4023
Date Details Post ref Debit Credit
  ADJUSTING ENTRIES                 Page 12      
Date Details Post ref Debit Credit
30-Nov Insurance Expense A/c…..Dr. 540 400  
  To, Prepaid Insurance A/c. 130   400
  Depreciation Expense – Delivery Van A/c….Dr. 521 200  
  To, Accumulated Depreciation – Delivery Van A/c. 181   200
  Wages Expense A/c……Dr. 590 880  
  To, Wages Payable A/c. 220   880
  Superannuation Expense A/c……Dr. 570 871  
  To, Superannuation Payable A/c. 250   871
  Office Supplies Expense A/c……Dr. 560 600  
  To, Office Supplies A/c. 150   600
  Bad Debts Expense A/c…..Dr. 512 713  
  To, Allowance for Doubtful Debts A/c. 121   713
  Rent Expense A/c…..Dr. 565 1500  
  To, Prepaid Rent A/c. 140   1500
Date Details Post ref Debit Credit
30-Nov Income Summary A/c……Dr. 350 23801.27273  
  To, Sales Discounts A/c. 412   259.73
  To, Cost of Sales A/c. 500   14840.00
  To, Bad Debts Expense A/c. 512   713.00
  To, Bank Charges A/c. 515   40.00
  To, Depreciation Expense – Delivery Van A/c. 521   200.00
  To, Electricity & Gas Expense A/c. 530   354.55
  To, Insurance Expense A/c. 540   400.00
  To, Office Supplies Expense A/c. 560   600.00
  To, Rent Expense A/c. 565   1500.00
  To, Superannuation Expense A/c. 570   871.00
  To, Wages Expense A/c. 590   4023.00
  Sales Revenue A/c…..Dr. 410 23350.00  
  Service Revenue A/c….Dr. 415 3000.00  
  Interest Revenue A/c…..Dr. 420 22.00  
  To, Income Summary A/c. 350   26372.00
  Income Summary A/c…..Dr. 350 2570.73  
  To, Capital A/c. 300   2570.73
  Capital A/c……Dr. 300 2350.00  
  To, Drawings A/c. 310   2350.00
A/C No Account Name Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement  Balance Sheet
    Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
110 Cash at Bank 14465.30       14465.30       14465.30  
120 Accounts receivable  22650.00       22650.00       22650.00  
121 Allowance for Doubtful Debts   646.00   713.00   1359.00       1359.00
130 Prepaid Insurance 2000.00     400.00 1600.00       1600.00  
140 Prepaid Rent 3000.00     1500.00 1500.00       1500.00  
150 Office Supplies 1250.00     600.00 650.00       650.00  
160 Inventory 20050.00       20050.00       20050.00  
180 Delivery Van 30000.00       30000.00       30000.00  
181 Accumulated Depreciation – Delivery Van       200.00   200.00       200.00
200 Accounts Payable   50479.00       50479.00       50479.00
220 Wages Payable   0.00   880.00   880.00       880.00
230 GST Clearing 1200.43       1200.43       1200.43  
250 Superannuation Payable   0.00   871.00   871.00       871.00
300 Capital   38106.00       38106.00       38106.00
310 Drawings 2350.00       2350.00       2350.00  
350 Income Summary                    
410 Sales Revenue   23350.00       23350.00   23350.00    
412 Sales Discounts 259.73       259.73   259.73      
415 Services Revenue   3000.00       3000.00   3000.00    
420 Interest Revenue   22.00       22.00   22.00    
500 Cost of Sales 14840.00       14840.00   14840.00      
512 Bad Debts Expense     713.00   713.00   713.00      
515 Bank charges 40.00       40.00   40.00      
521 Depreciation Expense – Delivery Van     200.00   200.00   200.00      
530 Electricity and Gas Expense 354.55       354.55   354.55      
540 Insurance Expense     400.00   400.00   400.00      
560 Office Supplies Expense     600.00   600.00   600.00      
565 Rent Expense     1500.00   1500.00   1500.00      
570 Superannuation Expense     871.00   871.00   871.00      
590 Wages Expense 3143.00   880.00   4023.00   4023.00      
                       
    115603.00 115603.00 5164.00 5164.00 118267.00 118267.00 23801.27 26372.00 94465.73 91895.00
  Profit/(loss)             2570.73     2570.73
                26372.00 26372.00 94465.73 94465.73
30th November      
A/C No Account Name Dr Cr
110 Cash at Bank 14465.30  
120 Accounts receivable  22650.00  
121 Allowance for Doubtful Debts   1359.00
130 Prepaid Insurance 1600.00  
140 Prepaid Rent 1500.00  
150 Office Supplies 650.00  
160 Inventory 20050.00  
180 Delivery Van 30000.00  
181 Accumulated Depreciation – Delivery Van   200.00
200 Accounts Payable   50479.00
220 Wages Payable   880.00
230 GST Clearing 1200.43  
250 Superannuation Payable   871.00
300 Capital   38326.73
  TOTAL 92115.73 92115.73
Date Account credited Terms Post ref. Credit Debits
Accounts payable Inventory Delivery Van Other:       Account title Post ref. Amount GST
1-Nov Holland Autos n/60 15448 33000   30000   180   3000
14-Nov Arabica Pty. Ltd. 3/10,n/30 5430 10395 9450     160   945
26-Nov Crema Supplies Pty. Ltd. 2/10,n/30 1389 7084 6440     160   644
                     
  TOTAL     50479 15890 30000 0 500 0 4589
Date Invoice no. Account debited Post ref. Debit Credit Cost of sales Dr.     Inventory Cr.
Accounts Receivable  Sales Revenue Services Revenue GST
15-Nov 4564 Cayden’s Coffee Club 120 10285 9350   935 5440
16-Nov 4565 Cayden’s Coffee Club 120 3300   3000 300  
26-Nov 4566 H. Proctor 120 9350 8500   850 6200
                 
    TOTAL   22935 17850 3000 2085 11640
Date Chq. No. Account debited Post ref. Debits Credits
Other accounts Accounts payable Inventory Cash
GST Net GST Net
1-Nov 71 Prepaid Insurance 130 200 2000       2200
1-Nov 72 Arabia Pty. Ltd. 200     6765     6765
6-Nov 73 Office Supplies 150 30 300       330
9-Nov 74 Wages Expense 590   1383       1383
    Wages Payable 220   377       377
16-Nov 75 Drawings 310   2350       2350
20-Nov 76 Crema Supplies Pty. Ltd. 200     10230     10230
22-Nov 77 Electricity & Gas Expenses 530 35 355       390
23-Nov 78 Wages Expenses 590   1760       1760
23-Nov 79 Superannuation Payable 250   756       756
30-Nov   Bank Charges 515   40       40
                   
    TOTAL   265 9321 16995 0 0 26581
Schedule of Accounts Receivable as at 30th November    
Account Name   Amount
H.Proctor   19350
Cayden’s Coffee House   3300
TOTAL    $22,650 

Schedule of Accounts Payable as at 30th November

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Account Name   Amount
Arabica Pty. Ltd.   10395
Crema Supplies Pty. Ltd.   7084
Holland Autos   33000
TOTAL    $50,479 

Accounts Receivable Subsidiary Ledger

H. Proctor            
Date Details Invoice No Post ref Debit Credit Balance
1-Nov Opening Balance         12140
12-Nov Cash Receipts   CRJ   2140 10000
26-Nov Credit Sales 4566 SJ 9350   19350
Cayden’s Cofffee Club            
Date Details Invoice No Post ref Debit Credit Balance
1-Nov Opening Balance         4000
9-Nov Cash Receipts   CRJ   4000 0
15-Nov Credit Sales 4564 SJ 10285   10285
16-Nov Service provided on Credit 4565 SJ 3300   13585
24-Nov Cash Receipts   CRJ   10285 3300

Accounts Payable Subsidiary Ledger

Arabica Pty Ltd            
Date Details Invoice No Post ref Debit Credit Balance
1-Nov Opening Balance         6765
1-Nov Cash Repayment   CPJ 6765   0
14-Nov Credit Purchase 5430 PJ   10395 10395
Crema Supplies Pty Ltd            
Date Details Invoice No Post ref Debit Credit Balance
1-Nov Opening Balance         10230
20-Nov Cash Repayment   CPJ 10230   0
26-Nov Credit Purchase 1389 PJ   7084 7084
Holland Autos            
Date Details Invoice No Post ref Debit Credit Balance
1-Nov Purchase of Delivery Van on Credit 15448 GJ   33000 33000

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