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Must complete all under REQUIRED.Must be done by an Accountant. There must be no errors or information missing.

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Must complete all under REQUIRED.Must be done by an Accountant. There must be no errors or information missing.
Answered Same Day Dec 09, 2021

Solution

Kiran answered on Dec 09 2021
140 Votes
Sheet1
    a) Create a General Ledger using the Trial Balance and account opening Balances
    b) Post day adjustments to the General Ledger.
    c) Post closing entries to relavant ledger.
    Sally Goldberg
    GENERAL LEDGER
    Account Name        Accumulated Depreciation - Equipment
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $2,160
        Adjustment (4)        $4,080        $6,240
    Account Name        Accumulated Depreciation - Motor Vehicle
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $8,000
        Adjustment (5)        $6,000        $14,000
    Account Name        Advertising
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $3,850
        Adjustment (1)        $400    $3,450
        Closing (2)        $3,450    $0
    Account Name        Allowance for Doubtful debts
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $50
        Adjustment (7)    $500        $450
        Adjustment (8)        $592        $142
    Account Name        Sales
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $153,000
        Closing (1)    $153,000            $0
    Account Name        Capital - Sally Goldberg
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $31,300
        Closing (3)        $37,983        $69,283
        Closing (4)    $10,400            $58,883
    Account Name        Cash at Bank
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $8,960
    Account Name        Accounts Payable Control
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $4,000
    Account Name        Accounts Receivable Control
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $6,000
        Adjustment (7)        $550    $5,450
    Account Name        Drawings - Richard Bube
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $10,400
        Closing (4)        $10,400    $0
    Account Name        Equipment at Cost
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $27,200
    Account Name        GST Collected
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $3,700
        Adjustment (7)    $50            $3,650
        Closing    $2,000            $1,650
    Account Name        GST Paid
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $2,000
        Closing        $2,000    $0
    Account Name        Interest on Loan - B Stewart
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $1,200
        Adjustment (6)        $200        $1,400
        Closing (1)    $1,400            $0
    Account Name        Loan to B Stewart
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $10,000
    Account Name        Motor Vehicle - at cost
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance            $32,000
    Account Name        Provision for long service leave
    Date    Account    Debit    Credit    Balance
                    Debit    Credit
    June. 30    Balance                $1,000
        Adjustment (3)        $895        $1,895
    Account...
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