qsam1
TRANSCRIPT
Technology Boutique Practice Set Being completed by: himanshu83
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Hi-Fi Way Post-closing trial-balanceAs at 30/05/2011
Account No. Name Debit Credit
100 Cash at bank 68,141 110 ARC - Accounts Receivable Control 70,567 111 Allowance for Doubtful Debts 10,000 112 Interest Receivable 284 120 Inventory 311,150 130 Office Supplies 3,608 135 GST Outlays 15,006 140 Prepaid Rent 1,600 141 Prepaid Advertising 12,000 142 Prepaid Insurance 3,350 150 Cash Registers 8,000 151 Accum Depn: Cash Registers 2,000 160 Store Fixtures 39,000 161 Accum Depn: Store Fixtures 24,036 210 APC - Accounts Payable Control 64,214 220 Wages Payable 6,603 221 Electricity Payable 842
Page 1 of 3Further information
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222 Water Payable 116 225 Interest Payable 226 240 GST Collections 14,488 250 Bank Loan Payable 45,102 300 Roderigo Bethe, Capital 365,079 302 Roderigo Bethe, Drawings 310 Profit and Loss Summary 400 Sales Revenue 401 Sales Returns and Allowances 402 Discount Received 403 Interest Revenue 500 Cost of Sales 511 Advertising Expense 516 Wages Expense 540 Rent Expense 541 Electricity Expense 542 Water Expense 543 Insurance Expense 544 Office Supplies Expense 545 Salary Expense 560 Depn Expense: Store Fixtures 561 Depn Expense: Cash Registers 571 Interest Expense 572 Bank Charges 573 Discount Allowed 574 Bad Debts Expense
Total 532,706 532,706
Please note: Hi-Fi Way does not generally give a discount for early payment except in exceptional circumstances. All debtors are on net 30 credit terms.
Hi-Fi Way Schedule of Accounts ReceivableAs at 30/05/2011
Account No. Name Debit Credit
110-1 ARC - Radio Hut 8,000 110-2 ARC - Hypertronics 8,365 110-3 ARC - Turbo Tech 48,437 110-4 ARC - Jerry Technology 5,765 110-5 ARC - Handys Electronics 110-6 ARC - Pikea
Total 70,567
Hi-Fi Way Schedule of Accounts PayableAs at 30/05/2011
Account No. Name Debit Credit Terms
210-1 APC - Mega Tech 7,174 2/10, n/30 210-2 APC - Pony 6,000 1/15, n/30 210-3 APC - Pear Technology 42,040 net 30 210-4 APC - Big Telco 9,000 2/10, n/30 210-5 APC - JCN Electrical net 30 210-6 APC - Moon Megasystems net 30
Total 64,214
INVENTORY CARDS
Zii Game Consoles
DatePurchases Cost of Sales Balance
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
May 1 21 1760 36960
May 2 18 2020 36360 21 1760 36960
Page 2 of 3Further information
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18 2020 36360
May 24 10 1760 17600 11 1760 19360 18 2020 36360
May 31 5 1760 8800 6 1760 10560 18 2020 36360
Tony ZIO MLP Projectors
DatePurchases Cost of Sales Balance
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
May 1 29 970 28130 28 1070 29960
May 12 4 970 3880 25 970 24250 28 1070 29960
May 23 7 970 6790 18 970 17460 28 1070 29960
May 31 15 1070 16050 18 970 17460 43 1070 46010
MePod Multimedia Players
DatePurchases Cost of Sales Balance
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
May 1 21 1010 21210 21 1160 24360
May 5 24 1160 27840 21 1010 21210 45 1160 52200
May 27 21 1010 21210 38 1160 44080 7 1160 8120
May 31 17 1160 19720 55 1160 63800
BG90 Plasma Televisions
DatePurchases Cost of Sales Balance
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
May 1 27 2000 54000
May 13 13 2000 26000 14 2000 28000
May 23 6 2000 12000 8 2000 16000
May 31 16 2100 33600 8 2000 16000 16 2100 33600
MX620 Notebook Computers
DatePurchases Cost of Sales Balance
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost
May 1 22 1890 41580 24 2080 49920
May 7 22 1890 41580 21 2080 43680 3 2080 6240
May 18 21 2080 43680 42 2080 87360
Page 3 of 3Further information
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