ACC20015 The General Journal

From Canvas, Modules, Assessment, MYOB Assignment, Instructions, download the MYOB Assignment Stationery workbook which contains all the required stationery to complete Part A of the assignment.
2. Enter your Student ID AND Assignment No in the spaces provided.
NOTE: You must use your own workbook and not give your workbook to any other student. If any replicated files are discovered both students will receive a zero as their final mark for this section of the assignment.
3. Record the opening balances as at 1 March 2018 in the appropriate accounts and the opening balances of accounts receivable, accounts payable and inventory in the appropriate subsidiary ledgers.
4. Record reversing entries required from February 2018.

5. Record the transactions, in chronological order, in the appropriate general or special journal for March 2018. Record and post all transactions from journals to the general ledger in accordance with accounting procedures.
6. Prepare schedules of accounts receivable and accounts payable as at 31 March 2018 and reconcile these with the control accounts in the general ledger.
7. Record end of month adjustments in the general journal and post these to the general ledger.
8. Prepare a Trial Balance after end of month adjustments as at 31 March 2018.
9. Prepare an Income Statement for March 2018 and a Balance Sheet as at 31 March 2018.Your completed Excel spreadsheet is to be submitted for part A.

Answer:

Sales
Date	Account	Inv No	Post Ref	Canoes	Kayaks	Oars	Rowing Manuals	GST Payable	Accounts Receivable	Cost of Sales
11/3/2018	Croc's Tenant Creek	704	2,100	2,050	2,160	370	668	7,348	3,328
15/3/2018	Daly Waters Rowing Club	705	3,500	2,460	3,600	555	1,012	11,127	5,040
25/3/2018	Croc's Tenant Creek	706	1,750	1,640	3,600	699	7,689	3,455
27/3/2018	Katherine Kayaking	707	1,050	2,870	4,320	185	843	9,268	4,211
8,400	9,020	13,680	1,110	3,221	35,431	16,034
Purchases
Date	Account	Inv No	Post Ref	Canoes	Kayaks	Oars	Rowing Manuals	GST Receivable	Accounts Payable
9/3/2018	Custom Canoes	CC1130	1,980	198	2,178
9/3/2018	Wave Rider	863K	1,200	120	1,320
9/3/2018	2B Oar not 2B	2177	2,928	293	3,221
12/3/2018	Wave Rider	890K	2,400	240	2,640
12/3/2018	Heave-Ho Publishers	367	288	29	317
16/3/2018	2B Oar not 2B	2209	2,196	220	2,416
18/3/2018	Heave-Ho Publishers	372	240	24	264
23/3/2018	Custom Canoes	CC1327	1,980	198	2,178
23/3/2018	Heave-Ho Publishers	410	360	36	396
3,960	3,600	5,124	888	1,357	14,929
Date	Particulars	Rec No	Post Ref	Accounts Receivable	Cash Sales	Rowing Lessons	Sundry	Details	GST Payable	Bank	Cost of Sales
4-03-2018	Katherine Kayaking	753	D2	9,252	9,252
4-03-2018	Receipts for Rowing Lessons - SL 1	RL433	4-2000	650	65	715
4-03-2018	Sales Receipts	4-1000	1,531	153.10	1,684.10	768
12-03-2018	Montefiore Scholl - SL 1 & SL3	RL434	4-2000	1,330	133	1,463
14-03-2018	Daly Waters Rowing Club	754	D3	11,934	11,934
18-03-2018	Sales Receipts	4-1000	2,055	205.50	2,260.50	1015
22-03-2018	Sales Receipts	4-1000	4,497	449.70	4,946.70	2253
25-03-2018	Croc's Tenant Creek	755	D1	9,360	9,360
25-03-2018	Sales Receipts	4-1000	4,141	414.10	4,555.10	2065
27-03-2018	Receipts for Rowing Lessons - SL 1	RL435	4-2000	1,900	190	2,090
27-03-2018	Sales Receipts	4-1000	2,402	240.20	2,642	1205
28-03-2018	Sales Receipts	4-1000	4,264	426.40	4,690.40	2149
28-03-2018	Man O' Board	8-1000	2,700	Commission	2,700
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
30,546	18,890	3,880	2,700	2,277	58,293	9,455
Cash Payments
Date	Particulars	Chq No	Post Ref	Accounts Payable	Vehicle Expenses	Wages	Sundry	Details	GST Receivable	Cash at Bank
1-03-2018	Viking Press	371	6-2300	360	Printing	36	396
1-03-2018	Cash-Mere Pty. Ltd.	372	1-6100	2,590	Cash Register	259	2,849
2-03-2018	Prime Real Estate	373	1-2100	7,560	Prepaid Rent	756	8,316
3-03-2018	HMG Autos	374	6-2600	486	49	535
3-03-2018	2B Oar not 2B	375	C3	3,960	3,960
4-03-2018	Rowing Times	376	1-2200	720	Prepaid Advertising	72	792
8-03-2018	Heave-Ho Publishers	377	C4	1,620	1,620
10-03-2018	Wave Rider	378	C2	9,360	9,360
12-03-2018	Woody Boate	379	6-2700	800	800
12-03-2018	Ian Titanic	380	6-2700	760	760
16-03-2018	Bank of Rupt	381	2-6000/9-1000	3,270	Principal and Interest paid	3,270
16-03-2018	Drawings	382	3-8100	2,220	2,220
16-03-2018	Vehicle Expenses	383	6-2600	350	35	385
19-03-2018	A.T.O.	384	2-3010	3,500	GST for February paid	3,500
21-03-2018	Custom Canoes	385	C1	8,550	8,550
23-03-2016	Telstra	386	6-2500	310	Telephone Expenses	31	341
26-03-2018	Woody Boate	387	6-2700	850	850
26-03-2018	Ian Titanic	388	6-2700	400	400
23,490	836	2,810	20,530	1,238	48,904
Date	Particulars	Post Ref	Dr	Cr
1/3/2018	Office Equipment	1,720
Capital - Ima Galah	1,720
1/3/2018	Wages	1,044
Wages Payable	1,044
21/3/2018	Wave Rider	220
Inventory	200
GST Receivable	20
28/3/2018	Sales Return	4-1500	720
GST Payable	72
Croc's Tenant Creek	792
28-03-2018	Inventory	366
Cost of Sales	366
31-03-2018	Stock Gain/Loss	117
Inventory	117
31-03-2018	Depreciation	2,253
Accum Dep. - Shop Fittings	585
Accum Dep. - Motor Vehicles	1,560
Accum Dep. - Office Equipment	108
31-03-2018	Wages	720
Wages Payable	720
31-03-2018	Rent	2,520
Prepaid Rent	2,520
31-03-2018	Advertising	360
Prepaid Advertising	360
Bank				1-1100
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	42,750	42,750
31-03-18	Total Cash Receipts	CRJ	58,293	1,01,043
Total Cash Payments	CPJ	48,904	52,139
52,139
Accounts Receivable				1-2000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	30,546	30,546
28-03-18	Sales Return	GJ	792	29,754
31-03-18	Total Credit Sales	SJ	35,431	65,185
Total Cash Receipts	CRJ	30,546	34,639
Prepaid Rent				1-2100
Date	Particulars	Post Ref	Dr	Cr	Bal
02-03-18	Rent paid in advance	CPJ	7,560	7,560
31-03-18	Rent Expired	GJ	2,520	5,040
5,040
5,040
Prepaid Advertising				1-2200
Date	Particulars	Post Ref	Dr	Cr	Bal
04-03-18	Advertisement Expenses paid in advance	CPJ	720	720
31-03-18	Benefits Consumed	GJ	360	360
360
360
Inventory				1-3000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	19,536	19,536
21-03-18	Purchase Return	GJ	200	19,336
28-03-18	Sales Return	GJ	366	19,702
31-03-18	Loss of Stock	GJ	117	19,585
Total Credit Sales	SJ	16,034	3,551
Total Cash Sales	CRJ	9,455	- 5,904
Total Credit Purchase	PJ	13,572	7,668
Shop Fittings				1-4100
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	46,800	46,800
46,800
46,800
Accumulated Depreciation - Shop Fittings				1-4200
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	11,700	11,700
31-03-18	Depreciation Charged	GJ	585	12,285
12,285
Motor Vehicle				1-5100
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	93,600	93,600
93,600
93,600
Accumulated Depreciation - Motor Vehicle				1-5200
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	24,300	24,300
31-03-18	Depreciation Charged	GJ	1,560	25,860
25,860
Office Equipment				1-6100
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Purchase of Cash Register	CPJ	2,590	2,590
01-03-18	Computer Brought In	GJ	1,720	4,310
4,310
4,310
Accumulated Depreciation - Office Equipment				1-6200
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Depreciation Charged	GJ	108	108
108
108
Accounts Payable				2-2000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	23,490	23,490
21-03-18	Purchase Return	GJ	220	23,270
31-03-18	Total Credit Purchase	PJ	14,929	38,199
Total Cash Payments	CPJ	23,490	14,709
GST Payable				2-3010
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	6,900	6,900
19-03-18	GST paid	CPJ	3,500	3,400
28-03-18	Sales Return	GJ	72	3,328
31-03-18	Total Cash Receipts	CRJ	2,277	5,605
Total Credit Sales	SJ	3,221	8,826
GST Receivable				2-3030
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	3,400	3,400
21-03-18	Purchase Return	GJ	20	3,380
31-03-18	Total Cash Payments	CPJ	1,238	4,618
Total Credit Purchase	PJ	1,357	5,975
Wages Payable				2-4000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	1,044	1,044
01-03-18	Wages Payable Reversed	GJ	1,044	-
31-03-18	Wages Due	GJ	720	720
Loan - Bank of Rupt				2-6000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	45,000	45,000
16-03-18	Part Principal Paid	CPJ	3,000	42,000
42,000
Capital - Ima Galah				3-8000
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance	1,24,198	1,24,198
01-03-18	Computer Brought in	GJ	1,720	1,25,918
1,25,918
Drawings				3-8100
Date	Particulars	Post Ref	Dr	Cr	Bal
16-03-18	Cash Withdrawn	CPJ	2,220	2,220
2,220
Sales				4-1000
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Total Cash Sales	CRJ	18,890	18,890
Total Credit Sales	SJ	32,210	51,100
Sales Returns				4-1500
Date	Particulars	Post Ref	Dr	Cr	Bal
28-03-18	Sales Returns by Customers	GJ	720	720
720
Rowing Lessons				4-2000
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Total Rowing Lessons	CRJ	3,880	3,880
Cost of Sales				5-1000
Date	Particulars	Post Ref	Dr	Cr	Bal
28-03-18	Sales Return	GJ	366	- 366
31-03-18	Total Credit Sales	SJ	16,034	15,668
Total Cash Sales	CRJ	9,455	25,123
Stock Gain/Loss				5-2000
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Loss of Stock	GJ	117	117
Advertising				6-1000
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Advertising Expenses	GJ	360	360
Depreciation				6-2100
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Depreciation for the month	GJ	2,253	2,253
2,253
Printing				6-2300
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Printing Charges Paid	CPJ	360	360
360
Rent				6-2400
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Rent Expenses	GJ	2,520	2,520
Telephone				6-2500
Date	Particulars	Post Ref	Dr	Cr	Bal
23-03-18	Telephone expense paid	CPJ	310	310
Vehicle Expenses				6-2600
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Total Vehicle Expenses	CRJ	836	836
Wages				6-2700
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Wages Payable Reversed	GJ	1,044	- 1,044
31-03-18	Wages Due	GJ	720	- 324
Total Wages Paid	CPJ	2,810	2,486
Commission				8-1000
Date	Particulars	Post Ref	Dr	Cr	Bal
31-03-18	Commission Received	CRJ	2,700	2,700
Interest Expense				9-1000
Date	Particulars	Post Ref	Dr	Cr	Bal
16-03-18	Interest on Loan Paid	CPJ	270	270
270
Inventory
Canoes									TRC
Date	Particulars	Purchases			Sales			Balance
Date	Particulars	Units	Unit Cost	Total Cost	Unit	Unit Cost	Total Cost	Units	Unit Cost	Total Cost
01-03-18	Opening Balance	28	165	4620
04-03-18	Sales	2	165	330	26	165	4290
09-03-18	Credit Purchase	12	165	1980	38	165	6270
11-03-18	Credit Sales	6	165	990	32	165	5280
15-03-18	Credit Sales	10	165	1650	22	165	3630
18-03-18	Sales	3	165	495	19	165	3135
22-03-18	Sales	1	165	165	18	165	2970
23-03-18	Credit Purchase	12	165	1980	30	165	4950
25-03-18	Sales	3	165	495	27	165	4455
25-03-18	Credit Sales	5	165	825	22	165	3630
27-03-18	Sales	3	165	495	19	165	3135
27-03-18	Credit Sales	3	165	495	16	165	2640
28-03-18	Sales	3	165	495	13	165	2145
31-03-18	Stock Loss	-1	165	-165	12	165	1980
Kayaks									TRK
Date	Particulars	Purchases			Sales			Balance
Date	Particulars	Units	Unit Cost	Total Cost	Unit	Unit Cost	Total Cost	Units	Unit Cost	Total Cost
01-03-18	Opening Balance	30	200	6000
09-03-18	Credit Purchase	6	200	1200	36	200	7200
11-03-18	Credit Sales	5	200	1000	31	200	6200
12-03-18	Credit Purchase	12	200	2400	43	200	8600
15-03-18	Credit Sales	6	200	1200	37	200	7400
18-03-18	Sales	2	200	400	35	200	7000
21-03-18	Purchase Return	-1	200	-200	34	200	6800
22-03-18	Sales	3	200	600	31	200	6200
25-03-18	Sales	2	200	400	29	200	5800
25-03-18	Credit Sales	4	200	800	25	200	5000
27-03-18	Sales	1	200	200	24	200	4800
27-03-18	Credit Sales	7	200	1400	17	200	3400
28-03-18	Sales	5	200	1000	12	200	2400
Oars									OAR
Date	Particulars	Purchases			Sales			Balance
Date	Particulars	Units	Unit Cost	Total Cost	Unit	Unit Cost	Total Cost	Units	Unit Cost	Total Cost
01-03-18	Opening Balance	44	183	8052
04-03-18	Sales	2	183	366	42	183	7686
09-03-18	Credit Purchase	16	183	2928	58	183	10614
11-03-18	Credit Sales	6	183	1098	52	183	9516
15-03-18	Credit Sales	10	183	1830	42	183	7686
16-03-18	Credit Purchase	12	183	2196	54	183	9882
22-03-18	Sales	8	183	1464	46	183	8418
25-03-18	Sales	6	183	1098	40	183	7320
25-03-18	Credit Sales	10	183	1830	30	183	5490
27-03-18	Sales	2	183	366	28	183	5124
27-03-18	Credit Sales	12	183	2196	16	183	2928
28-03-18	Sales	2	183	366	14	183	2562
28-03-18	Sales Return	-2	183	-366	16	183	2928
Rowing Manuals									MAN
Date	Particulars	Purchases			Sales			Balance
Date	Particulars	Units	Unit Cost	Total Cost	Unit	Unit Cost	Total Cost	Units	Unit Cost	Total Cost
01-03-18	Opening Balance	36	24	864
04-03-18	Sales	3	24	72	33	24	792
11-03-18	Credit Sales	10	24	240	23	24	552
12-03-18	Credit Purchase	12	24	288	35	24	840
15-03-18	Credit Sales	15	24	360	20	24	480
18-03-18	Sales	5	24	120	15	24	360
18-03-18	Credit Purchase	10	24	240	25	24	600
22-03-18	Sales	1	24	24	24	24	576
23-03-18	Credit Purchase	15	24	360	39	24	936
25-03-18	Sales	3	24	72	36	24	864
27-03-18	Sales	6	24	144	30	24	720
27-03-18	Credit Sales	5	24	120	25	24	600
28-03-18	Sales	12	24	288	13	24	312
31-03-18	Stock Profit	2	24	48	15	24	360
ACCOUNTS PAYABLE
Custom Canoes		C1
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance		8,550	8,550
09-03-18	Credit Purchase	PJ	2,178	10,728
21-03-18	Cash Payment	CPJ	8,550	2,178
23-03-18	Credit Purchase	PJ	2,178	4,356
4,356
4,356
4,356
Wave Rider		C2
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance		9,360	9,360
09-03-18	Credit Purchase	PJ	1,320	10,680
10-03-18	Cash Payment	CPJ	9,360	1,320
12-03-18	Credit Purchase	PJ	2,640	3,960
21-03-18	Purchase Return	GJ	220	3,740
3,740
2B Oar not 2B		C3
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance		3,960	3,960
03-03-18	Cash Payment	CPJ	3,960	-
09-03-18	Credit Purchase	PJ	3,221	3,221
16-03-18	Credit Purchase	PJ	2,416	5,636
Heave-Ho Publishers		C4
Date	Particulars	Post Ref	Dr	Cr	Bal
01-03-18	Opening Balance		1,620	1,620
08-03-18	Cash Payment	CPJ	1,620	-
12-03-18	Credit Purchase	PJ	317	317
18-03-18	Credit Purchase	PJ	264	581
23-03-18	Credit Purchase	PJ	396	977
SCHEDULE OF ACCOUNTS PAYABLE
AS AT 31 MARCH 2018
Custom Canoes		4,356
Wave Rider		3,740
2B Oar not 2B		5,636
Heave-Ho Publishers		977
14,709

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