Lecture Example 1.5 Solution
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siphesihlegodz151Lecture Example 1.5 Solution
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siphesihlegodz151Lecture Example 1.
5(a) schedule
Note: Opening balances
Source documents Assets = Liabilities + OE
FURNITURE
OFFICE ACCOUNTS ACCOUNTS CAPITAL
& BANK
SUPPLIES RECEIVABLE PAYABLE SOPUKA
EQUIPMENT
Balances at beginning 40 000 10 000 120 000 80 000 60 000 190 000
Office supplies + 3 200 + 3 200
Office equipment + 28 000 - 16 000 + 12 000
Debtors - 70 000 + 70 000
Capital contribution + 10 000 Con + 10 000
Creditors - 32 000 - 32 000
Drawings - 6 000 Draw - 6 000
Debtors + 24 000 Rev + 24 000
Rent (expense) - 4 000 Exp - 4 000
Wages (expense) - 3 000 Exp - 3 000
Depreciation (expense) - 1 000 Exp - 1 000
Office supplies used - 5 600 Exp - 5 600
Balances at end 67 000 7 600 74 000 1
99 000 43 200 204 400
Lecture Example 1.5(b)(1)+(2) solution
2023 2023
+ +
Jan 24 Bank 42 6 000 Jan 1 Balance b/d 190 000 Jan 1 Balance b/d 120 000 Jan 13 Bank 42 70 000
29 Bank 42 4 000 17 Bank 42 10 000 25 Capital 10 24 000 31 Balance c/d 74 000
31 Bank 42 3 000 25 Bank 10 24 000 144 000 144 000
31 Furn & Equip 30 1 000 Feb 1 Balance b/d 74 000
31 Office supplies 40 5 600
31 Balance c/d 204 400
+
Jan 1 Balance b/d 80 000 Jan 11 Furn & Equip 30 16 000
224 000 224 000
13 Acc. Rec. 41 70 000 19 [Link]. 20 32 000
17 Capital 10 10 000 24 Capital 10 6 000
Feb 1 Balance b/d 204 400
29 Capital 10 4 000
+ 31 Capital 10 3 000
19 Bank 42 32 000 Jan 1 Balance b/d 60 000 Balance c/d 99 000
31 Balance c/d 43 200 Office supp 40 3 200 160 000 160 000
11 Furn & Equip 30 12 000 Feb 1 Balance b/d 99 000
75 200 75 200
Feb 1 Balance b/d 43 200
+
Jan 1 Balance b/d 40 000 Jan 31 Capital 10 1 000
11 Bank / Acc. pay 42/20 28 000 Balance c/d 67 000
68 000 68 000 204 400
Feb 1 Balance b/d 67 000 43 200
67 000
+ 7 600
Jan 1 Balance b/d 10 000 Jan 31 Capital 10 5 600
Acc. Payable 20 3 200 74 000
Balance c/d 7 600
99 000
13 200 13 200 247 600 247 600
Feb 1 Balance b/d 7 600