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

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

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