Answer To: MAA103 T1 2019 Assignment 1 - Part B: Balance Day Adjustments & Financial Statements Student ID...
Khushboo answered on Jan 11 2021
Description
MAA103 ASSIGNMENT 2
Student ID 217056243
Student Username tzaytou @deakin.edu.au
Journal
GENERAL JOURNAL
Instructions:
-Fill out the journal entries below based on your 'MAA103 Assignment 2 217056243.pdf' file (this was attached to your email).
-You must write the Date, Account Name, and fill out the corresponding values in the Debit (Dr) or Credit (Cr) column.
-There is no need to indent your accounts and also narrations are NOT required
-Please ensure that your date format is in dd/mm/yyyy format and that your dates fall between 1 Jan 2018 - 31 Jan 2018.
-Note: The account name used in the journal must come from the drop down menu.
-Failure to follow the instructions precisely may result in a loss of marks.
The General Journal Chart of accounts
Date Accounts Dr Cr Account
No Account Name
1/31/18 Wage Expense 7,480 101 Cash
Wages Payable 6,280 102 Accounts Receivable
PAYG Withheld 1,200 103 Inventory
104 Office Supplies
1/31/18 Unearned Revenue 24,480 111 GST Paid
Service Revenue 24,480 141 Prepaid Insurance
142 Prepaid Rent
1/31/18 Interest Expense 468 143 Interest Receivable
Interest Due 468 151 Computer equipment
152 Accum. Depreciation - Computer Equipment
1/31/18 Rent Expense 900 155 Office Furniture
Prepaid Rent 900 156 Accum. Depreciation - Office Furniture
158 Motor Vehicle
1/31/18 Depreciation Expense - Motor Vehicle 760 159 Accum. Depreciation - Motor Vehicle
Accum. Depreciation - Motor Vehicle 760 201 Accounts Payable
222 GST Collected
240 Interest Due
241 Unearned Revenue
242 Wages Payable
243 Utilities Payable
244 Consulting Fees Payable
251 Bank Loan
261 PAYG Withheld
301 Capital
302 Drawings
401 Sales Revenue
402 Service Revenue
403 Interest Revenue
501 Cost of Good Sold
601 Computer Expense
602 Office Supplies Expense
603 Interest Expense
604 Consulting Expense
605 Insurance Expense
606 Rent Expense
607 Sales Commission Expense
608 Utilities Expense
609 Wage Expense
610 Advertising Expense
651 Depreciation Expense - Motor Vehicle
655 Depreciation Expense - Office Furniture
TOTAL 34,088 34,088 658 Depreciation Expense - Computer Equipment
Profit / Loss
Accounting for Decision Making (MAA103)
Deakin University General Journal &G
Ledger
GENERAL LEDGER
Instructions:
-Fill out the ledgers below based on the journal adjusting entries AND the unadjusted balances from your Assignment 2 Document.
-You MUST write the Date, Explanation, and then fill out the value in the corresponding Debit or Credit column (not both)
-Your explanation should only contain the other account name(s) as per your journal entries, seperated by a backslash "/" where necessary
-Please ensure that your date format is in dd/mm/yyyy format and that your dates fall between 1 Jan 2018 - 31 Jan 2018.
-Failure to follow the instructions precisely may result in a loss of marks.
101 Cash
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 291,648 291,648 Dr
291,648 Dr
291,648 Dr
291,648 Dr
291,648 Dr
291,648 Dr
1/31/18 Adjusted Closing Balance 291,648 Dr
102 Accounts receivable
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 22,354 22,354 Dr
22,354 Dr
22,354 Dr
22,354 Dr
22,354 Dr
22,354 Dr
1/31/18 Adjusted Closing Balance 22,354 Dr
103 Inventory
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 68,498 68,498 Dr
68,498 Dr
68,498 Dr
68,498 Dr
68,498 Dr
68,498 Dr
1/31/18 Adjusted Closing Balance 68,498 Dr
104 Office Supplies
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 8,586 8,586 Dr
8,586 Dr
8,586 Dr
8,586 Dr
8,586 Dr
8,586 Dr
1/31/18 Adjusted Closing Balance 8,586 Dr
111 GST Paid
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 11,298 11,298 Dr
11,298 Dr
11,298 Dr
11,298 Dr
11,298 Dr
11,298 Dr
1/31/18 Adjusted Closing Balance 11,298 Dr
141 Prepaid Insurance
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 3,426 3,426 Dr
3,426 Dr
3,426 Dr
3,426 Dr
3,426 Dr
3,426 Dr
1/31/18 Adjusted Closing Balance 3,426 Dr
142 Prepaid Rent
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 4,500 4,500 Dr
1/31/18 Rent expense 900 3,600 Dr
3,600 Dr
3,600 Dr
3,600 Dr
3,600 Dr
1/31/18 Adjusted Closing Balance 3,600 Dr
143 Interest Receivable
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 8,749 8,749 Dr
8,749 Dr
8,749 Dr
8,749 Dr
8,749 Dr
8,749 Dr
1/31/18 Adjusted Closing Balance 8,749 Dr
155 Office Furniture
Date Explanation Debit Credit Balance
1/31/18 Unadjusted Balance 41,580 41,580 Dr
41,580 Dr
41,580 Dr
41,580 Dr
41,580 Dr
41,580 Dr
1/31/18 Adjusted Closing Balance 41,580 Dr
156 Accum. Depreciation - Office Furniture
Date Explanation Debit...