General Journal A Baker For May Date May, 01 May, 02 May, 05 May, 06 May, 07 May, 09 May, 10 May, 12 May, 13 May, 15 May, 17 Particulars Bank Capital Purchases A/c payable - L frank A/c payable - G byers A/c payable - P lee Cash Sales Wages Cash A/c Reciveable - J snow A/c Reciveable - K park A/c Reciveable - B tyler Sales Discount allow 2% - J snow Discount allow 2% - K park Discount allow 2% - B tyler A/c Reciveable - J snow A/c Reciveable - K park A/c Reciveable - B tyler Cash Bank Purchases Cash Purchases A/c payable - G byers A/c payable - P lee A/c payable - G byers A/c payable - P lee Discount Allow 5% -G byers Discount Allow 5% - P lee Cash Bank Wages Cash A/c Reciveable - K park A/c Reciveable - B tyler Sales Shop Fixture A/c Payable - Shop ltd A/c payable - G byers Bank Dr 8000 Cr 8000 1450 550 290 610 510 510 110 110 295 360 640 1095 5.9 7.2 12.8 5.9 7.2 12.8 800 800 1200 1200 1650 410 1240 20.5 62 20.5 62 110 110 110 110 610 205 815 740 740 700 700 May, 18 May, 21 May, 24 May, 26 May, 26 May, 27 May, 28 May, 28 May, 29 May, 30 May, 31 A/c payable - P lee Return outward A/c Payable - Shop ltd Bank Bank A/c Reciveable - B tyler Return inward A/c Reciveable - J snow Cash Bank Rent Cash Fixture & fittings Bank Drawings Bank Cash Bank Sationary, Cash book, invoices Cash A/c payable - L Frank Return outward Cash A/c Payable - G prince Van Bank 83 83 740 740 845 845 100 100 300 300 300 300 150 150 100 100 75 75 75 18 18 1000 1000 6250 6250 T Accounts A Bakers For May Capital Date Description C.B Dr Date 8000 May, 01 8000 June, 01 Descriptions Cr Bank 8000 8000 8000 O.B Bank Date May, 01 May, 24 Description Capital B Tyler C.B Dr Date 8000 May, 09 845 May, 12 May, 17 May,21 May, 26 May, 27 May, 28 May, 28 380 May, 31 9225 June, 01 Descriptions Cash Cash G bayers Shop ltd Cash Fixture & fittings Cash Drawings Van Cr 800 110 700 740 300 150 75 100 6250 9225 380 O.B Purchases Date May, 02 May, 09 May, 10 June, 01 Description L frank G byers P lee Cash G byers P lee Dr Date 550 290 610 1200 410 1240 4300 4300 OB Descriptions Cr CB 4300 4300 Sales Date Description Dr Date May, 05 May, 07 May, 13 C.B 2620 2620 Descriptions Cash J snow K park B tyler K park B tyler Cr 510 295 360 640 610 205 2620 June, 01 O.B 2620 Drawings Date May, 28 Bank Description June, 01 O.B Dr Date 100 100 100 Descriptions Cr C.B 100 100 Cash Date May, 05 May, 09 May, 12 May, 26 May, 28 May, 30 Description Sales Bank Bank Bank Bank G prince June, 01 O.B Dr 510 800 110 300 75 1000 2795 1000 Date May, 06 May, 09 May, 12 May, 26 May, 28 Descriptions Cr Wages Purchases Wages Rent Stationary, Cash book C.B 110 1200 110 300 75 1000 2795 L Frank Date May, 29 Description Return outward C.B Dr Date 18 May, 02 532 550 June, 01 Descriptions Purchases Cr 550 550 532 O.B G Byers Date May, 10 May, !7 Description Discount allowed Bank Dr Date 20.5 May, 2 700 May, 10 Descriptions Purchases Purchases C.B Cr Descriptions Purchases Purchases Cr 720.5 20.5 June, 01 O.B Date May, 10 May, 18 Description Discount allowed Return Outward C.B 290 410 20.5 720.5 P Lee Dr Date 62 May, 02 83 May, 10 1705 1850 June, 01 610 1240 1850 1705 O.B J Snow Date May, 07 Description Sales Dr Date 295 May, 07 Descriptions Discount allowed Cr 5.9 May, 26 June, 01 Return Inward C.B 295 189.1 O.B 100 189.1 295 K Park Date May, 07 May, 13 Sales Sales Description June, 01 O.B Dr Date 360 May, 07 610 970 962.8 Descriptions Discount allowed C.B Cr Descriptions Discount allowed Bank Cr 7.2 962.8 970 B Tyler Date May, 07 May, 13 Description Sales Sales C.B Dr Date 640 May, 07 205 May, 24 12.8 857.8 June, 01 12.8 845 857.8 12.8 O.B Shop ltd Date May, 21 Description Dr Bank Date 740 May, 15 740 Descriptions Shop fixture Cr Descriptions Cr 740 740 G Prince Date Description C.B Dr Date 1000 May, 30 1000 June, 01 Cash 1000 1000 1000 O.B Wages Date May, 06 May, 12 Cash Cash Description June, 01 O.B Dr Date 110 110 220 220 Descriptions Cr C.B 220 220 Shop Fixture Date May, 15 Description Shop Ltd June, 01 O.B Dr Date 740 740 740 Fixture & Fittings Descriptions C.B Cr 740 740 Date May, 27 Bank Description June, 01 O.B Dr Date 150 150 150 Descriptions Cr C.B 150 150 Van Date May, 31 Bank Description June, 01 O.B Dr 6250 6250 6250 Date Descriptions Cr C.B 6250 6250 Purchases Discount Date Description Dr C.B Date May, 10 82.5 82.5 Descriptions Cr G byers P lee 20.5 62 82.5 82.5 June, 01 Sales Discount Date May, 07 June, 01 Description Dr J Snow K Park B Tyler Date 5.9 7.2 12.8 25.9 25.9 O.B Descriptions Cr C.B 25.9 25.9 Return Outward Date Description Dr C.B Date May, 18 101 May, 29 June, 01 Descriptions Cr P lee L frank 83 18 101 101 O.B Return Inward Date May, 26 J snow Description June, 01 O.B Dr Date 100 100 100 Descriptions Cr C.B 100 100 Statonary, Cash book, invoice Date May, 28 Description Cash June, 01 O.B Dr Date 75 75 75 Descriptions C.B Cr 75 75 Rent Date May, 26 Description Cash June, 01 O.B Dr Date 300 300 300 Descriptions C.B Cr 300 300 Trail Balance A Baker For May Account Title Capital Bank (overdraft) Purchases Sales Drawings Cash L Frank G Byers P Lee J Snow K Park B Tyler G Prince Wages Shop Fixture Fixture & Fittings Van Rent Stationary, Cash Book, Invoice Purchases discount Sales discount Return Inward Return Outward Dr Cr 8000 380 4300 2620 100 1000 532 20.5 1705 189.1 962.8 12.8 1000 220 740 150 6250 300 75 82.5 25.9 100 14433.3 101 14433.3 A Baker Income Statement As at May, 31 Sales Sales return inward 2620 (100) 2520 COGS Purchses Return Outward Goods available for sale Closing stock COGS 4300 (101) 4199 (500) (3699) (1179) Gross profit/ (loss) Other Income Purchses discount Total other income 82.5 82.5 Operating Expense Wages Rent Stationary, Cashbook, Invoice Sales discount Total operating expense Net profit / (loss) (220) (300) (75) (25.9) (620.9) (538.4) (1717.4) A Baker Balance sheet As at May, 31 Non Current Assets Van Fixture & fittings Shop Fixture Current Liabilties Creditors Bank Over Draft Total Liablities 6250 150 740 7140 Total N.C.A Current Assets Debtor Cash Closing Stock Total C.A Capital empolyed 3629.8 Owner Equity Capital Net loss Drawings 1172.4 1000 500 3249.8 380 8000 (1717.4) (100) 6182.6 2672.4 9812.4 Capital Employed 9812.4