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Business · Accounting
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  1. Wages due but not paid $1800
  2. Electricity bill due but not paid amounting to $450
  3. Insurance had been paid for the period 1 April 2017 to 31 March 2018 for an amount of $3,600.
  4. Interest earned but not yet received of $750
  5. Depreciation – Van $1,400
  6. Rent received in advance $3,000
  7. Bad Debts to be written off for $1,320.00 including GST.
  8. Doubtful debts totaling $1200
  9. Create Provision for Long Service Leave $5,000
  10. Long Service Leave taken $1,500
  11. Obsolete stock during stocktake amounting to $550 which needs to be written off.
  12. Credit sales occurring during the current period amounting to $440 (inclusive GST) were not recorded. e cost of sales was $250.

put these general journals to general ledgers 

 

1

Wages 

1800

 

 

Accrued expenses 

 

1800

 

*Balance day adjustment

 

 

 

 

 

 

2

Electricity 

450

 

 

Accounts payable 

 

450

 

*Electricity due but not paid 

 

 

 

 

 

 

3

Prepaid expense 

2700

 

 

Insurance 

 

2700

 

*insurance paid in advance 

 

 

 

 

 

 

4

Accrued revenue 

750

 

 

Intrest 

 

750

 

GST collected on interest

 

0

 

*interest earned but not yet received 

 

 

 

 

 

 

 

 

 

 

5

Depreciation - van 

1400

 

 

Accumulated depreciation - van 

 

1400

 

*depreciation 

 

 

 

 

 

 

6

Rent income 

3000

 

 

Prepaid revenue 

 

3000

 

*revenue received in advanced 

 

 

 

 

 

 

7

Bad debts expense 

1200

 

 

GST collected 

120

 

 

Accounts receivable 

 

1320

 

*bad debts written off 

 

 

 

 

 

 

8

Doubtful debts

1200

 

 

Accounts receivable 

 

1200

 

*Doubtful debts

 

 

 

 

 

 

9

Long service leave 

5000

 

 

Provision for long service leave 

 

5000

 

*long service leave entitlement not yet taken by employees 

 

 

 

 

 

 

10

Long service leave 

1500

 

 

Accrued expense 

 

1500

 

*long service leave been taken 

 

 

 

 

 

 

11

expense/ inventory written off 

550

 

 

inventory

 

550

 

 *inventory needs to be written off

 

 

 

 

 

 

12

accounts recivable 

440

 

 

gst collected 

 

40

 

sales 

 

400

 

cost of sales 

250 

 

 

inventory

 

250 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WAGES

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Balance

 

 

6,000 dr

1

Accrued expenses 

1800

 

7800 dr   

 

 

 

 

 

 

 

 

 

 

 

 

 

ELECTRICITY 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Balance

 

 

7,000 dr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INSURANCE 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Balance

 

 

3,000 dr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST INCOME 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Balance

 

 

6,000 cr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DEPRECIATION 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

 Accumulated depreciation

1400 

 

1,400 dr 

 

 

 

 

 

 

 

 

 

 

 

RENT INCOME 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

30/6

Balance

 

 

11,200 cr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BAD DEBTS 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

30/6

Balance

 

 

800 dr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DOUBTFUL DEBTS 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

 Provision for doubtful debts

1200

 

1200 dr 

 

 

 

 

 

 

 

 

 

 

LONG SERVICE LEAVE 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Provision for long service leave

5000 

 

5000 dr 

 

 

 

 

 

COGS 

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

 30/6

Balance

 

 

12,000 dr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SALES

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

30/06

Balance

 

58000

58000 cr

 

 

 

 

 

 

 

 

 

 

 

Trading

 

 

 

Date 

Cross Reference

DEBIT

CREDIT

BALANCE

30/06

Sales

 

58000

58000 cr

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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