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Financial Transactions Summary Report

1. Transfer of cash account to bank. 2. Purchase of goods with 50% paid in cash and 50% on credit from supplier. 3. Receipt of interest income deposited into bank account. 4. Payment of rent expense with cash. 5. Sale of goods with 3% discount deposited into bank account. 6. Return of goods to supplier. 7. Payment of 50% outstanding balance to supplier from bank account. 8. Repayment of bank loan and interest. 9. Payment of accounting fees from bank account.

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116 views21 pages

Financial Transactions Summary Report

1. Transfer of cash account to bank. 2. Purchase of goods with 50% paid in cash and 50% on credit from supplier. 3. Receipt of interest income deposited into bank account. 4. Payment of rent expense with cash. 5. Sale of goods with 3% discount deposited into bank account. 6. Return of goods to supplier. 7. Payment of 50% outstanding balance to supplier from bank account. 8. Repayment of bank loan and interest. 9. Payment of accounting fees from bank account.

Uploaded by

San Ban
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Date Account Number DR/ CR

1 DR
CR

Payment of insurance premium by bank cheque


Date Account Number DR/ CR
2 DR
CR

Payment of car maintenance by bank cheque


Date Account Number DR/ CR
3 DR
CR

Payment in Cash taken from Bank account


Date Account Number DR/ CR
4 DR
CR

Payment of notary fees by bank transfer


Date Account Number DR/ CR
5 DR
CR

Purchase of goods by bank transfer


Date Account Number DR/ CR
6 DR
CR

Interest income received


Date Account Number DR/ CR
7 DR
CR

Sale of goods to client X on credit


Date Account Number DR/ CR
8 DR
CR

Cash refund received


Date Account Number DR/ CR
9 DR
CR

Payment of rent by bank transfer


Date Account Number DR/ CR
10a DR
CR

Return of goods
10b DR
CR

Return of goods

Louis Vuitton Example

DR
CR
DR
CR

DR
CR
Account Name P/L or B/S Debit Amount
Insurance expense P/L 2,000
Bank B/S

Payment of insurance premium by bank cheque


Account Name P/L or B/S Debit Amount
Repair and Maintenance/ Annual service P/L 3,000
Bank B/S

Payment of car maintenance by bank cheque


Account Name P/L or B/S Debit Amount
Cash B/S 10,000
Bank B/S

Payment in Cash taken from Bank account


Account Name P/L or B/S Debit Amount
Notary fees P/L 4,000
Bank B/S

Payment of notary fees by bank transfer


Account Name P/L or B/S Debit Amount
Purchase of goods P/L 6,000
Bank B/S

Purchase of goods by bank transfer


Account Name P/L or B/S Debit Amount
Bank B/S 400
Interest Income P/L

Interest income received


Account Name P/L or B/S Debit Amount
Client X / Client receivable / account receivable B/S 10,000
Sales P/L

Sale of goods to client X on credit


Account Name P/L or B/S Debit Amount
Cash B/S 500
Refund received or Repair and Maintenance/ Annual service P/L

Cash refund received


Account Name P/L or B/S Debit Amount
Rent expense P/L 3,000
Bank B/S

Payment of rent by bank transfer


Account Name P/L or B/S Debit Amount
Return of goods or Sales P/L 2,000
Client X B/S

Return of goods
Goods B/S 1,500
Purchase of goods P/L

Return of goods

Sold 10000
Bought 6000
4000
67%

Goods/ Inventory B/S 10,000


Cash B/S
Purchase of goods P/L 10,000
Goods/ Inventory B/S

Cash/Bank/ Account receivable B/S 20,000


Sales P/L
Transactions
Credit Amount Nature of transaction
Accounts affected
2,000 Increase/ Decrease
Debit/ Credit

Credit Amount

3,000

Credit Amount

10,000

Credit Amount

4,000

Credit Amount

6,000

Credit Amount

400

Credit Amount

10,000

Credit Amount

500

Credit Amount

3,000
Credit Amount

2,000

1,500

1197.604790419

10,000

10,000

20,000
Balance Sheet
ASSETS
FIXED ASSETS
BUILDINGS 800,000

CURRENT ASSETS

STOCK/ INVENTORY/ GOODS 110,000


CASH 20,000
BANK ACCOUNT 90,000

TOTAL ASSETS 1,020,000


Balance Sheet
LIABILITIES
CAPITAL
CAPITAL 340,000

DEBTS

BANK LOAN 600,000


Supplier BONHOMME 80,000

TOTAL LIABILITIES 1,020,000


Date Account Number DR/ CR Account Name P/L or B/S
1 DR Bank B/S
CR Cash B/S

Transfer of cash account to bank


Date Account Number DR/ CR Account Name P/L or B/S
2 DR Purchase of goods P/L
CR Bank B/S
CR Supplier/ Account Payable B/S

Purchase of goods 50% on credit , 50% paid in cash


Date Account Number DR/ CR Account Name P/L or B/S
3 DR Bank B/S
CR Interest income/ Financial income P/L

Interest income received


Date Account Number DR/ CR Account Name P/L or B/S
4 DR Rent expense P/L
CR Cash B/S

Payment of rent expense with cash


Date Account Number DR/ CR Account Name P/L or B/S
5 DR Bank B/S
CR Sale of goods P/L
DR Discount granted P/L

Sale of goods with 3% discount


Date Account Number DR/ CR Account Name P/L or B/S
6 DR Supplier Bonhomme B/S
CR Purchase of goods P/L

Return of goods to supplier


Date Account Number DR/ CR Account Name P/L or B/S
7 DR Supplier Bonhomme B/S
CR Bank B/S

Payment of 50% of outstanding balance to supplier


Date Account Number DR/ CR Account Name P/L or B/S
8 DR Bank loan B/S
DR Interest Expense / Finance expense P/L
CR Bank B/S

Repayment of bank loan and interest


Date Account Number DR/ CR Account Name P/L or B/S
9 DR Accounting fees P/L
CR Bank B/S

Payment of accounting fees


Debit Amount Credit Amount
5,000
5,000

ank
Debit Amount Credit Amount
40,000 DR Purchase of goods P/L
20,000 CR Bank B/S
20,000 DR Purchase of goods P/L
CR Supplier B/S
paid in cash
Debit Amount Credit Amount
1,000
1,000

Debit Amount Credit Amount


5,000
5,000

cash
Debit Amount Credit Amount
97,000 DR Client 100,000.00
100,000 CR Sales 100,000.00
3,000
DR Bank 97,000.00
nt CR Client 100,000.00
Debit Amount Credit Amount DR Discount granted 3,000.00
20,000
20,000

r
Debit Amount Credit Amount
40,000
40,000 80,000 40,000
50% of 80 000 outstanding balance
e to supplier
Debit Amount Credit Amount
100,000
10,000
110,000

erest
Debit Amount Credit Amount
5,000
5,000

s
20,000
20,000
20,000
20,000
ASSET ACCOUNTS LIABILITY ACCOUNTS
Buildings Capital
DR CR DR
OB = 800,000 CB = 800,000 CB = 340,000

Stock Bank Loan


DR CR DR
OB = 110,000 CB = 110,000 8=100,000
OB = 500,000

Bank Account Supplier BonHomme

DR CR DR
OB = 90,000 2=20,000 6=20,000
1=5,000 7=40,000 7=40,000
3=1,000 8=110,000 CB=40,000
5=97,000 9=5,000
CB=18,000

FY results
Cash
DR CR DR
OB = 20,000 1=5,000 10=20,000
4=5,000 10=10,000
CB=10,000 10=5,000
10=3,000
10=5,000
CB=58,000

DR CR DR
DR CR DR

DR CR DR
CCOUNTS
EXPENSE ACCOUNTS
Purchased
CR
goods
OB = 340,000 DR CR
2=40,000 6=20,000
10=20,000

CR Rent
OB = 600,000 DR CR
4=5,000 10=5,000

CR Interest expense
OB = 80,000 DR CR
2=20,000 8=10,000 10=10,000

Fees
DR CR
9=5,000 10=5,000

CR
10=100,000
10=1,000 Discount granted
DR CR
5=3,000 10=3,000

CR
CR

CR
INCOME ACCOUNTS
Sale of goods
DR CR
10=100,000 5=100,000

Interest Income
DR CR
10=1,000 3=1,000

DR CR

DR CR

DR CR
Result of the year Amount
Income
Sale of goods 100,000
Interest income 1,000

Total Income 101,000

Expenses
Purchase of goods 20,000
Rent 5,000
Interest expense 10,000
Fees 5,000
Discount granted 3,000
Total Expenses 43,000

Result 58,000
Balance Sheet
ASSETS
FIXED ASSETS
BUILDINGS 800,000

CURRENT ASSETS
STOCK/ INVENTORY/ GOODS 110,000
CASH 10,000
BANK ACCOUNT 18,000

TOTAL ASSETS 938,000


Balance Sheet
LIABILITIES
CAPITAL
CAPITAL 340,000
Results for the FY 58,000
DEBTS
BANK LOAN 500,000
Supplier BONHOMME 40,000

TOTAL LIABILITIES 938,000 -

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