Assignment 5 - Spreadsheets and Journalizing Transactions with HST
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Ledger GENERAL JOURNAL PARTICULARS DATE 2022 Aug 31 Bank P.R. page #1 DEBIT CREDIT 101 7000.00 Supplies 120 1450.00 Equipment 125 14732.00 Automobiles 130 28957.00 Bank Loan 201 25000.00 Pat Schelling, Capital 301 27139.00 Opening financial position for Pat Schelling Sept 1 Rent Expense HST Recoverable Bank 520 2700.00 225 351.00 101 3051.00 Cheque Copy to Rosewell Investments 3 Supplies HST Recoverable A/P - Home Hardware Purchase Invoice from Home Hardware 120 352.00 225 45.76 213 397.76 Ledger 5 A/R - W.J Thomson 117 5650.00 Service Revenue 401 5000.00 HST Payable 220 650.00 Sales Invoice to W.J Thomson 5 A/R - L. Pero 111 3390.00 Service Revenue 401 3000.00 HST Payable 220 390.00 Sales Invoice to L. Pero 9 Bank Loss on Sale of Equipment Equipment 101 500.00 535 700.00 125 1200.00 Cash Sales Slip 10 A/R - Spectrum Co. 115 1356.00 Service Revenue 401 1200.00 HST Payable 220 156.00 Sales Invoice to Spectrum Co. Ledger GENERAL JOURNAL PARTICULARS DATE Sept 11 Pat Schelling, Drawings Bank P.R. 302 page #2 DEBIT CREDIT 1000.00 101 1000.00 Cheque Copy to Owner 12 A/P - Home Hardware Bank 213 397.76 101 397.76 Cheque Copy to Home Hardware 15 Automobile Expense 505 1513.00 HST Recoverable 225 196.69 A/P - Imperial Garage 211 1709.69 Purchase Invoice from Imperial Garage 16 Supplies HST Recoverable Bank 120 247.50 225 32.18 101 279.68 Cheque Copy to the Marketplace 18 Bank 101 5650.00 Ledger A/R - W.J. Thomson 117 5650.00 Cash Receipt 18 General Expense 515 48.00 Automobile Expense 505 177.00 HST Recoverable 225 29.25 Bank 101 254.25 Cheque Copy to the Owner GENERAL JOURNAL PARTICULARS DATE Sept 19 Bank Charges Expense Bank P.R. 510 page #3 DEBIT CREDIT 125.00 101 125.00 Bank Debit Memo 19 Wages Expense 530 Bank 101 900.00 900.00 Cheque Copy 19 A/R - K. Puna 113 1017.00 Ledger Service Revenue 401 900.00 HST Payable 220 117.00 Sales Invoice 22 Bank Loan 201 Bank 2000.00 101 2000.00 Memorandum 24 Telephone Expense HST Recoverable Bank 525 185.00 225 24.05 101 209.05 Cheque Copy 25 Bank 101 A/R - L. Pero 1500.00 111 1500.00 Cash Receipt GENERAL JOURNAL DATE PARTICULARS P.R. page #4 DEBIT CREDIT Ledger Sept 26 A/R - W.J. Thomson 117 678.00 Service Revenue 401 600.00 HST Payable 220 78.00 Sales Invoice 26 Pat Schelling, Drawings Bank 302 1250.00 101 1250.00 Cheque Copy 29 Supplies HST Recoverable Pat Schelling, Drawings 120 190.00 225 24.70 302 214.70 Memorandum 30 Wages Expense 530 Bank 101 850.00 850.00 Cheque Copy 30 A/P - Imperial Garage Bank Cheque Copy 211 101 500.00 500.00 Ledger 30 Equipment HST Recoverable Bank Cheque Copy 125 1795.00 225 233.35 101 2028.35 Ledger GENERAL LEDGER ACCOUNT Bank DATE PARTICULARS 2022 Aug 31 Forwarded Sept No. 101 P.R. - DEBIT CREDIT 7,000.00 3,051.00 DR CR BALANCE Dr 7,000.00 Dr 3,949.00 Dr 4,449.00 1 J1 9 J1 11 J2 1,000.00 Dr 3,449.00 12 J2 397.76 Dr 3,051.24 16 J2 279.68 Dr 2,771.56 18 J2 Dr 8,421.56 18 J2 254.25 Dr 8,167.31 19 J3 125.00 Dr 8,042.31 19 J3 900.00 Dr 7,142.31 22 J3 2,000.00 Dr 5,142.31 24 J3 209.05 Dr 4,933.26 25 J3 Dr 6,433.26 26 J4 1,250.00 Dr 5,183.26 30 J4 850.00 Dr 4,333.26 500.00 5,650.00 1,500.00 Ledger 30 J4 500.00 Dr 3,833.26 30 J4 2,028.35 Dr 1,804.91 ACCOUNT A/R - L. Pero DATE 2022 Sept PARTICULARS No. 111 P.R. 5 J1 25 J3 DEBIT CREDIT 3,390.00 1,500.00 DR CR Dr 3,390.00 Dr 1,890.00 ACCOUNT A/R - K. Puna DATE 2022 Sept PARTICULARS 19 No. 113 P.R. J3 DEBIT CREDIT 1,017.00 DR CR Dr ACCOUNT A/R - Spectrum Co. DATE 2022 Sept PARTICULARS 10 ACCOUNT A/R - W.J. Thomson BALANCE BALANCE 1,017.00 No. 115 P.R. J1 DEBIT 1,356.00 CREDIT DR CR Dr BALANCE 1,356.00 No. 117 Ledger DATE 2022 Sept PARTICULARS P.R. 5 J1 18 J2 26 J4 DEBIT CREDIT 5,650.00 5,650.00 678.00 DR CR Dr 5,650.00 Dr 0.00 Dr 678.00 ACCOUNT Supplies DATE PARTICULARS 2022 Aug 31 Forwarded Sept No. 120 P.R. - DEBIT CREDIT DR CR Dr 1,450.00 3 J1 352.00 Dr 1,802.00 16 J2 247.50 Dr 2,049.50 29 J4 190.00 Dr 2,239.50 DATE Sept BALANCE 1,450.00 ACCOUNT Equipment 2022 Aug BALANCE PARTICULARS 31 Forwarded No. 125 P.R. - 9 J1 30 J4 DEBIT CREDIT 14,732.00 1,200.00 1,795.00 DR CR BALANCE Dr 14,732.00 Dr 13,532.00 Dr 15,327.00 Ledger ACCOUNT Automobiles DATE 2022 Aug 31 Forwarded PARTICULARS No. 130 P.R. - DEBIT 28,957.00 CREDIT DR CR Dr BALANCE 28,957.00 Ledger GENERAL LEDGER ACCOUNT Bank Loan DATE PARTICULARS 2022 Aug 31 Forwarded Sept No. 201 P.R. DEBIT - 22 J3 CREDIT 25,000.00 2,000.00 DR CR Cr 25,000.00 Cr 23,000.00 ACCOUNT A/P - Imperial Garage DATE PARTICULARS No. 211 P.R. 2022 Sept 15 J2 30 J4 DEBIT CREDIT 1,709.69 500.00 DR CR 2022 Sept PARTICULARS BALANCE Cr 1,709.69 Cr 1,209.69 ACCOUNT A/P - Home Hardware DATE BALANCE No. 213 P.R. 3 J1 12 J2 DEBIT CREDIT 397.76 397.76 DR CR BALANCE Cr 397.76 Cr 0.00 Ledger ACCOUNT HST Payable DATE 2022 Sept PARTICULARS No. 220 P.R. DEBIT CREDIT DR CR 5 J1 650.00 Cr 650.00 5 J1 390.00 Cr 1,040.00 10 J1 156.00 Cr 1,196.00 19 J3 117.00 Cr 1,313.00 26 J4 78.00 Cr 1,391.00 ACCOUNT HST Recoverable DATE 2022 Sept BALANCE PARTICULARS No. 225 P.R. DEBIT CREDIT DR CR BALANCE 1 J1 351.00 Dr 351.00 3 J1 45.76 Dr 396.76 15 J2 196.69 Dr 593.45 16 J2 32.18 Dr 625.63 18 J2 29.25 Dr 654.88 24 J3 24.05 Dr 678.93 29 J4 24.70 Dr 703.63 30 J4 233.35 Dr 936.98 Ledger Ledger GENERAL LEDGER ACCOUNT Capital DATE PARTICULARS 2022 Aug 31 Forwarded No. 301 P.R. DEBIT - CREDIT 27,139.00 DR CR Cr ACCOUNT Drawings DATE 2022 Sept PARTICULARS BALANCE 27,139.00 No. 302 P.R. DEBIT CREDIT DR CR BALANCE 11 J2 1,000.00 Dr 1,000.00 26 J4 1,250.00 Dr 2,250.00 29 J4 Dr 2,035.30 214.70 Ledger GENERAL LEDGER ACCOUNT Service Revenue DATE 2022 Sept PARTICULARS No. 401 P.R. DEBIT CREDIT DR CR BALANCE 5 J1 5,000.00 Cr 5,000.00 5 J1 3,000.00 Cr 8,000.00 10 J1 1,200.00 Cr 9,200.00 19 J3 900.00 Cr 10,100.00 26 J4 600.00 Cr 10,700.00 Ledger GENERAL LEDGER ACCOUNT Automobile Expense DATE PARTICULARS No. 505 P.R. DEBIT CREDIT DR CR BALANCE 2022 Sept 15 J2 1,513.00 Dr 1,513.00 18 J2 177.00 Dr 1,690.00 ACCOUNT Bank Charges Expense DATE PARTICULARS 2022 Sept 19 No. 510 P.R. J3 DEBIT CREDIT 125.00 DR CR Dr ACCOUNT General Expense DATE PARTICULARS 2022 Sept 18 ACCOUNT Rent Expense BALANCE 125.00 No. 515 P.R. J2 DEBIT 48.00 CREDIT DR CR Dr BALANCE 48.00 No. 520 Ledger DATE 2022 Sept PARTICULARS 1 P.R. J1 DEBIT CREDIT 2,700.00 DR CR Dr ACCOUNT Telephone Expense DATE PARTICULARS 2022 Sept 24 P.R. J3 PARTICULARS 2,700.00 No. 525 DEBIT CREDIT 185.00 DR CR Dr ACCOUNT Wages Expense DATE BALANCE BALANCE 185.00 No. 530 P.R. DEBIT CREDIT DR CR BALANCE 2022 Sept 19 J3 900.00 Dr 900.00 30 J4 850.00 Dr 1,750.00 ACCOUNT Loss on Sale of Equipment DATE 2022 Sept 9 PARTICULARS No. 535 P.R. J1 DEBIT 700.00 CREDIT DR CR Dr BALANCE 700.00 Ledger Royal City Engineering Trial Balance September 30, 2022 Accounts Debits Credits Bank 1,804.91 A/R - L. Pero 1,890.00 A/R - K. Puna 1,017.00 A/R - Spectrum Co. 1,356.00 A/R - W.J. Thomson 678.00 Supplies 2,239.50 Equipment 15,327.00 Automobiles 28,957.00 Bank Loan 23,000.00 A/P - Imperial Garage 1,209.69 HST Payable 1,391.00 HST Recoverable 936.98 Pat Schelling, Capital Pat Schelling, Drawings 27,139.00 2,035.30 Service Revenue Automobile Expense Bank Charges Expense General Expense Rent Expense Telephone Expense Wages Expense Loss on Sale of Equipment 10,700.00 1,690.00 125.00 48.00 2,700.00 185.00 1,750.00 700.00 63,439.69 63,439.69 Ledger Royal City Engineering Income Statement Month Ended September 30, 2022 Revenue Service Revenue ($ 10,700.00) Total Expenses ($ 7,198.00) Net Income ($ 3,502.00) Expenses Automobile Expense Bank Charges Expense General Expense Rent Expense Telephone Expense Wages Expense Loss on Sale of Equipment ($ 1,690.00) 125.00 48.00 2,700.00 185.00 1,750.00 700.00 Ledger Royal City Engineering Balance Sheet September 30, 2022 Assets Current Assets Bank ($ 1,804.91) A/R - L. Pero 1,890.00 A/R - K. Puna 1,017.00 A/R - Spectrum Co. 1,356.00 A/R - W.J. Thomson 678.00 2,239.50 Supplies Total Current Assets Equipment Automobiles ($ ($ 15,327.00) 28,957.00 44,284.00 Total Long-Term Assets Total Assets Liabilities Current Liabilities 8,985.41) ($ 53,269.41) Ledger Bank Loan ($ A/P - Imperial Garage HST Payable 23,000.00) 1,209.69 ($ 1,391.00) (936.98) Less: HST Recoverable 454.02 HST Owed Total Liabilities ($ 24,663.71) Owner's Equity Pat Schelling, Capital Balance August 31 Net Income Less: Drawings Increase in Capital ($ ($ 27,139.00) 3,502.00) (2035.3) 1,466.70 28,605.70 Balance September 30 Total Liabilities and Owner's Equity ($ 53,269.41)