New Era Accounting WORKSHEETS

Transcription

1 New Era Accounting WORKSHEETS EMS TRAINING WORKSHEETS Page 1

2 TASK 3 Spreadsheet of Carol s Curls No. Bank ASSETS Hairdressing Equipment Office equipment LIABILITIES Accounts payable OWNERS' EQUITY A = L + OE = CAROL'S CURLS STATEMENT OF NET WORTH MARCH 2018 ASSETS TOTAL ASSETS OWNER S EQUITY LIABILITIES TOTAL EQUITY AND LIABILITIES EMS TRAINING WORKSHEETS Page 2

3 TASK 4:CAROL CONTINUED ASSETS LIABILITIES Date/ No. Bank Hairdressing equipment Office EXPENSES DRAWINGS equipment Acc. Rec Acc. Payable Loan INCOME CAPITAL A + E + D = L + C + I = EMS TRAINING WORKSHEETS Page 3

4 CALCULATION OF NET PROFIT Fee income Expenses: Net profit NOTE FOR OWNER S EQUITY Capital ACCOUNTING CONCEPT/RULE MATCHING PRINCIPLE In order to calculate profit, income is matched against the relevant expenses incurred in producing that income. Owner s equity CAROL'S CURLS STATEMENT OF NET WORTH APRIL 2018 ASSETS TOTAL ASSETS OWNER S EQUITY LIABILITIES TOTAL EQUITY AND LIABILITIES EMS TRAINING WORKSHEETS Page 4

5 TASK 5, 6 and 7 GENERAL LEDGER GENERAL LEDGER OF CAROL S CURLS Dr + BANK - Cr Mar 1 Capital Mar 3 Advertisement Fee income Supplies 800 Apr 1 Balance b/d Wages Drawings Balance c/d CAPITAL + Mar 1 Bank EMS TRAINING WORKSHEETS Page 5

6 + HAIRDRESSING EQUIPMENT - Mar 2 Accounts payable Mar 5 Accounts payable 600 Apr 1 Balance b/d Balance c/d OFFICE EQUIPMENT - Mar 2 Accounts payable ACCOUNTS PAYABLE + Mar 5 Hairdressing equipment 600 Mar 2 Hairdressing equipment Balance c/d Office equipment Apr 1 Balance b/d ADVERTISEMENT Mar 3 Bank SUPPLIES Mar 3 Bank 800 EMS TRAINING WORKSHEETS Page 6

7 FEE INCOME + Mar 6 Bank WAGES Mar 7 Bank DRAWINGS Mar 8 Bank 500 ACCOUNTS RECEIVABLE ELECTRICITY LOAN: NEDBANK EMS TRAINING WORKSHEETS Page 7

8 EQUIPMENT STOLEN INTEREST ON LOAN RENT TRIAL BALANCE OF CAROLS CURLS AS AT 3O APRIL Fol Debit Credit Bank Capital Hairdressing equipment Office equipment Accounts payable Advertisement Supplies Fee income Wages Drawings Accounts receivable Electricity Loan Equipment stolen Interest on loan Rent EMS TRAINING WORKSHEETS Page 8

9 TASK 8.2 GENERAL LEDGER OF PENNY S PENS Dr TRADING STOCK B5 Cr Dr BANK B6 Cr NOMINAL ACCOUNTS SECTION Dr SALES N1 Cr COST OF SALES N2 GROSS PROFIT FOR THE MONTH OF OCTOBER:. -. =. EMS TRAINING WORKSHEETS Page 9

10 TASK 9 BB Supermarket: Cash journals, Ledger, Trial Balance, CASH RECEIPTS JOURNAL OF BB SUPERMARKET MAY 20.8 Doc No Day Details Fol Analysis of receipts Bank Sales Cost of sales Sundry accounts Amount Fol Details CRJ5 Rec Brian Bell Capital CS Cash Rec Baxter Wholesalers Trading stock CS Cash EMS TRAINING WORKSHEETS Page 10

11 CASH PAYMENTS JOURNAL OF BB SUPERMARKET MAY 20.8 Doc No Day Details Fol Bank Trading stock Wages & salaries Consumable stores Sundry accounts Amount Fol Details CPJ5 C Baxter Wholesalers C Pinetown Municipality N8 Water and electricity C2326 Telkom B9 Telephone C Cash C Baxter Wholesalers C2329 Lokal Chemicals C Oxlo Suppliers C Cash C J. Cele C Cash / Brian Bell B4 Drawings EMS TRAINING WORKSHEETS Page 11

12 GENERAL LEDGER BB SUPERMARKET BALANCE SHEET ACCOUNTS SECTION Dr CAPITAL B1 Cr May 31 May 1 Balance b/d June May 1 Balance b/d DRAWINGS B2 June May 1 Balance b/d VEHICLE B3 EQUIPMENT May 1 Balance b/d May 31 Balance c/d B4 June 1 Balance b/d EMS TRAINING WORKSHEETS Page 12

13 TRADING STOCK May 1 Balance b/d May B5 June 1 Balance b/d BANK May 1 Balance b/d May 31 B6 June 1 Balance b/d Dr CASH FLOAT B7 Cr May 1 Balance b/d 500 May 31 Balance c/d June 1 Balance b/d LOAN FROM UBS May 31 Balance c/d May 1 Balance b/d B8 June 1 Balance b/d EMS TRAINING WORKSHEETS Page 13

14 NOMINAL ACCOUNTS SECTION SALES N1 May 1 Total b/d May 1 Total b/d COST OF SALES N2 May 1 Total b/d RENT EXPENSE N3 CONSUMABLE STORES May 1 Total b/d May 17 N4 May 1 Total b/d WAGES AND SALARIES N5 May 10 Bank CPJ5 INSURANCE N6 EMS TRAINING WORKSHEETS Page 14

15 Dr REGISTRATION FEE N7 Cr May 12 Bank CPJ5 480 May 20 Bank CPJ5 880 WATER AND ELECTRICITY N8 May 20 Bank CPJ TELEPHONE N9 COMMISSION INCOME N10 May 9 Bank CRJ TRIAL BALANCE OF BB SUPERMARKET AS AT 31 MAY 20.8 Balance Sheet accounts section Fol Debit Credit Capital B1 Drawings B2 Vehicle B3 Equipment B4 Trading stock B5 Bank B6 Cash float B7 Loan from UBS B8 Nominal accounts section Sales N1 Cost of sales N2 Rent expense N3 Consumable stores N4 Wages and salaries N5 Insurance N6 Trading licence N7 Water and electricity N8 Telephone N9 Commission income N10 EMS TRAINING WORKSHEETS Page 15

16 TASK 10 WE-R-NUTS: DJ, CRJ, General Ledger, Debtors Ledger, Debtors List DEBTORS JOURNAL OF WE-R-NUTS - JULY 20.8 Inv. No. D Debtor Fol Sales Cost of sales 23 2 S. Martin DL A. Cronje DL C. Munro DL S. Martin DL D. Motala DL1 DJ7 CASH RECEIPTS JOURNAL OF WE-R-NUTS - JULY 20.8 Doc. no. D Details Fol Analysis of receipts B4/N1 Bank B3/N2 Debtors control EMS TRAINING WORKSHEETS Page 16 Sales Cost of sales CS Cash/Sales Sundry accounts CRJ7 Amount Fol Details BS/Rec 67 N. Armstrong Capital Rec 68 3 C. Munro DL4 CS B. Fitt Rec A. Cronje DL3 CS Cash/Sales Rec 70 D. Motala DL Rec S. Martin DL CS Cash/Sales Rec A. Cronje DL Rec 73 D. Dent Rent income Rec D. Motala DL1 * * = R B4 N1 N2/B3

17 GENERAL LEDGER OF WE-R-NUTS BALANCE SHEET ACCOUNTS SECTION Dr TRADING STOCK B3 Cr July 1 Balance b/d July 31 Aug 1 Balance b/d DEBTORS CONTROL July 1 Balance b/d 688 July 31 B4 Aug 1 Balance b/d NOMINAL ACCOUNTS SECTION SALES 20.8 N1 July 1 Total/Balance b/d July 1 Total/Balance b/d COST OF SALES N2 DEBTORS LEDGER OF WE-R-NUTS D. MOTALA DL1 Date Details Fol Debit Credit Balance July 1 Balance b/d 125 Dr EMS TRAINING WORKSHEETS Page 17

18 S. MARTIN DL2 Date Details Fol Debit Credit Balance July 1 Balance b/d 84 Dr A. CRONJE DL3 Date Details Fol Debit Credit Balance July 1 Balance b/d 423 Dr C. MUNRO DL4 Date Details Fol Debit Credit Balance July 1 Balance b/d 56 Dr 3 18 DEBTORS LIST ON 31 JULY 20.8 Debtor Fol Amount D. Motala DL1 S. Martin DL2 A. Cronje DL3 C. Munro DL4 Balance per Debtors control a/c B4 EMS TRAINING WORKSHEETS Page 18

19 TASK 11 GENERAL LEDGER OF 2-DI-4 FOODS BALANCE SHEET ACCOUNTS SECTION Dr BANK B1 Cr July 1 Balance b/d July July 31 Balance b/d TRADING STOCK B2 CREDITORS CONTROL B July 31 July 1 Balance b/d Aug July 31 NOMINAL ACCOUNTS SECTION STATIONERY N July 7 9 PACKAGING N July 28 WAGES N3 EMS TRAINING WORKSHEETS Page 19

20 CREDITORS LEDGER OF 2-DI-4 FOODS COLES CATERERS Date Details Fol Debit Credit Balance July 1 Balance b/d 900 Cr 2 26 CL1 MOOSA S MEATS CL2 Date Details Fol Debit Credit Balance July 1 Balance b/d Cr 3 15 WU WHOLESALERS CL3 Date Details Fol Debit Credit Balance July 1 Balance b/d Cr 7 CREDITORS LIST ON 31 JULY 20.1 Creditor Fol Amount Coles Caterers CL1 Moosa s Meats CL2 Wu Wholesalers CL3 Balance per Creditors control a/c B3 EMS TRAINING WORKSHEETS Page 20