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FA Finale3

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16 views18 pages

FA Finale3

Uploaded by

toufeeqjamal908
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
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Journal Entries

Column1 Column2 Column3 Column4 Column5


Debit
Sr # Description Post. Ref Amount in
Rs
1 Cash 1 55,000
Capital of Sunglasses Republic 2
3 Merchandise Inventory 3 9,800
Cash 1
4 Merchandise Inventory 3 3,800
Cash 1
10 Merchandise Inventory 3 7,500
Cash 1
11 Merchandise Inventory 3 1,375
Cash 1
12 Merchandise Inventory 3 8,200
Cash 1
13 Merchandise Inventory 3 6,400
Cash 1
14 Merchandise Inventory 3 10,500
Cash 1
15 Merchandise Inventory 3 7,320
Cash 1
16 Merchandise Inventory 3 2,700
Cash 1
17 Merchandise Inventory 3 3,600
Cash 1
28 Merchandise Inventory 3 16,720
Cash 1
43 Merchandise Inventory 3 11,500
Cash 1
46 Merchandise Inventory 3 3,200
Cash 1
48 Merchandise Inventory 3 17,940
Cash 1
49 Merchandise Inventory 3 400
Cash 1
50 Merchandise Inventory 3 14,385
Cash 1
5 Cash 1 1,000
Sales 5
Cost of Merchandise Sold 4 480
Merchandise Inventory 3
6 Cash 1 2,000
Sales 5
Cost of Merchandise Sold 4 960
Merchandise Inventory 3
7 Cash 1 1,400
Sales 5
Cost of Merchandise Sold 4 672
Merchandise Inventory 3
9 Cash 1 700
Sales 5
Cost of Merchandise Sold 4 336
Merchandise Inventory 3
18 Cash 1 850
Sales 5
Cost of Merchandise Sold 4 408
Merchandise Inventory 3
21 Cash 1 1,056
Sales 5
Cost of Merchandise Sold 4 507
Merchandise Inventory 3
23 Cash 1 1,016
Sales 5
Cost of Merchandise Sold 4 488
Merchandise Inventory 3
24 Cash 1 1,006
Sales 5
Cost of Merchandise Sold 4 483
Merchandise Inventory 3
26 Cash 1 877
Sales 5
Cost of Merchandise Sold 4 421
Merchandise Inventory 3
27 Cash 1 1,111
Sales 5
Cost of Merchandise Sold 4 533
Merchandise Inventory 3
31 Cash 1 1,000
Sales 5
Cost of Merchandise Sold 4 480
Merchandise Inventory 3
33 Cash 1 957
Sales 5
Cost of Merchandise Sold 4 459
Merchandise Inventory 3
34 Cash 1 938
Sales 5
Cost of Merchandise Sold 4 450
Merchandise Inventory 3
35 Cash 1 1,117
Sales 5
Cost of Merchandise Sold 4 536
Merchandise Inventory 3
36 Cash 1 927
Sales 5
Cost of Merchandise Sold 4 445
Merchandise Inventory 3
37 Cash 1 2,250
Sales 5
Cost of Merchandise Sold 4 1,080
Merchandise Inventory 3
39 Cash 1 800
Sales 5
Cost of Merchandise Sold 4 384
Merchandise Inventory 3
40 Cash 1 1,300
Sales 5
Cost of Merchandise Sold 4 624
Merchandise Inventory 3
41 Cash 1 1,500
Sales 5
Cost of Merchandise Sold 4 720
Merchandise Inventory 3
42 Cash 1 1,200
Sales 5
Cost of Merchandise Sold 4 576
Merchandise Inventory 3
44 Cash 1 600
Sales 5
Cost of Merchandise Sold 4 288
Merchandise Inventory 3
45 Cash 1 1,000
Sales 5
Cost of Merchandise Sold 4 480
Merchandise Inventory 3
22 Accounts Receivable (PostEx) 6 3,603
Sales 5
Cost of Merchandise Sold 4 1,730
Merchandise Inventory 3
25 Accounts Receivable (PostEx) 6 29,512
Sales 5
Cost of Merchandise Sold 4 14,166
Merchandise Inventory 3
29 Accounts Receivable (PostEx) 6 30,600
Sales 5
Cost of Merchandise Sold 4 14,688
Merchandise Inventory 3
30 Accounts Receivable (PostEx) 6 3,700
Sales 5
Cost of Merchandise Sold 4 1,776
Merchandise Inventory 3
32 Accounts Receivable (Trax) 6 21,500
Sales 5
Cost of Merchandise Sold 4 10,320
Merchandise Inventory 3
38 Accounts Receivable (PostEx) 6 900
Sales 5
Cost of Merchandise Sold 4 432
Merchandise Inventory 3
47 Accounts Receivable (Trax) 6 24,202
Sales 5
Cost of Merchandise Sold 4 11,617
Merchandise Inventory 3
8 Advertisment Expense 8 7,178
Cash 1
19 Advertisment Expense 8 5,100
Cash 1
Column6
Credit
Amount in
Rs

55,000

9,800

3,800

7,500

1,375

8,200

6,400

10,500

7,320

2,700

3,600

16,720

11,500

3,200

17,940

400

14,385

1,000
480

2,000

960

1,400

672

700

336

850

408

1,056

507

1,016

488

1,006

483

877

421

1,111

533

1,000

480

957

459

938
450

1,117

536

927

445

2,250

1,080

800

384

1,300

624

1,500

720

1,200

576

600

288

1,000

480

3,603

1,730

29,512

14,166

30,600
14,688

3,700

1,776

21,500

10,320

900

432

24,202

11,617

7,178

5,100
Sales Revenue Journal page n.o 2
Acc.Rec.Dr
Date Accounts Debited Post.Ref
Sales Cr
7-Aug Accounts Receivable-PostEx 68315
11-Aug Accounts Receivable-Trax 45702
114017
(6),(5)

Account Receivables Subsidary Ledgers

Name Postex
Date Item Post. Ref Debit Credit Balance
16-Aug S2 3,603 3,603
18-Aug S2 29,512 33,115
22-Aug S2 30,600 63,715
22-Aug S2 3,700 67,415
26-Aug S2 900 68,315
68,315

Name Trax
Date Item Post. Ref debit Credit Balance
24-Aug S2 21,500 21,500
30-Aug S2 24,202 45,702
45,702
Cash A/C (Account 1) Capital of Sunglasess (Account 2)
Debit Credit Balance Debit
55,000 9,800 45,200
1000 3,800 42,400 Closing:
2,000 7,500 36,900
1,400 1,375 36,925 Merchandise Inventory (Account 3)
700 8,200 29,425 Debit
850 6,400 23,875 9,800
1,056 10,500 14,431 3,800
1,016 7,320 8,127 7,500
1,006 2,700 6,433 1,375
877 3,600 3,710 8,200
1,111 16,720 - 11,899 6,400
1,000 11,500 - 22,399 10,500
957 3,200 - 24,642 7,320
938 17,940 - 41,644 2,700
1,117 400 - 40,927 3,600
927 14,385 - 54,385 16,720
2,250 7,178 - 59,313 11,500
800 5,100 - 63,613 3,200
1,300 - 62,313 17,940
1,500 - 60,813 400
1,200 -59613 14,385
600 -59013
1,000 -58013

79605 137,618
Closing: - 58,013

125,340
Closing:
tal of Sunglasess (Account 2) Cost of Merchandise Sold (Account 4)
Credit Debit Credit
55,000 480
-55,000 960
672
Merchandise Inventory (Account 3) 336
Credit Balance 408
480 9320 507
960 12,160 488
672 18,988 483
336 20,027 421
408 27,819 533
507 33,712 480
488 43,724 459
483 50,561 450
421 52840 536
533 55,907 445
480 72,147 1,080
459 83,188 384
450 85,938 624
536 103,342 720
445 103,297 576
1,080 116,602 288
384 116,218 480
624 115,594 1,730
720 114,874 14,166
576 114,298 14,688
288 114,010 1,776
480 113,530 10,320
1,730 111,800 432
14,166 97,634 11,617
14,688 82,946
1,776 81,170 Closing: 66539
10,320 70,850
432 70,418
11,617 58,801

66539
58801
ndise Sold (Account 4) Sales (Account 5)
Balance Debit Credit Balance
480 1,000 1,000
1440 2,000 3,000
2112 1,400 4,400
2448 700 5,100
2856 850 5,950
3363 1,056 7,006
3851 1,016 8,022
4334 1,006 9,028
4755 877 9,905
5288 1,111 11,016
5768 1,000 12,016
6227 957 12,973
6677 938 13,911
7213 1,117 15,028
7658 927 15,955
8738 2,250 18,205
9122 800 19,005
9746 1,300 20,305
10466 1,500 21,805
11042 1,200 23,005
11330 600 23,605
11810 1,000 24,605
13540 3,603 28,208
27706 29,512 55,720
42394 30,600 86,320
44170 3,700 90,020
54490 21,500 111,520
54922 900 112,420
66539 24,202 136,622

Closing: -136,622
A/C Receivable Account 6
Debit Credit Balance
3,603 3603
29,512 33115
30,600 63715
3,700 67415
900 68315
21,500 89815
24,202 114017
Closing: 114017

Advertisment Expense (Account 8)


Debit Credit Balance
7,178 7178
5,100 12278

Closing: 12278
Sunglasses Republic
Income Statement
For the Month Ended Aug 31,2023
Sales--------------------------------------------------------------------------- 138,622
Expenses:
Cost of Merchandise Sold----------------------------------------- 66,539
Advertisment Exp---------------------------------------------------------- 12,278
Total Expenses---------------------------------- 78,817

Net Income------------------------------------------------------------------- 59,805

Sunglasses Republic
Statement Of Owners's Equity
For the Month Ended Aug 31,2023
Heeli , Capital, Aug 1,2023--------------------------------------------- 55,000
Investment during the month---------------------------------------- 116026
Net Income------------------------------------------------------------- 59,805

Increase In Owners Equity--------------------------------------------- 230,831


Heeli,Capital,Aug 30,2023--------------------------------------------- 230,831

Sunglasses Republic
Balance Sheet
Aug 31,2023
Assets
Cash------------------------------------------------------------------ 58,013
Accounts Recieveable--------------------------------------------- 114017
Merchandise Inventory------------------------------------------- 58,801
Total Assets ---------------------------------------------- 230,831
Liability + Owners Equity
Heeli,Capital--------------------------------------------- 230,831
Total Liabilities + Owners Equity 230,831
Trial Balance

Sr # Description Debit Credit


1 Cash A/C 58,013
2 Capital of Sunglasess 55,000
3 Merchandise Inventory 58,801
4 Cost of Merchandise Sold 66,539
5 Sales 138,622
6 A/C Receivable (PostEx) 68,315
7 A/C Receivable (Trax) 45,702
8 Advertisment Expense 12,278
Total 251,635 251,635
Journal
Date Description Post.Ref Debit Credit
Closing Entries
31-Aug Sales 5 138,622
Cost of Merchandise Sold 4 66,539
Advertisment Exp 8 12,278
Heeli, Capital 2 230,831
Sunglasses Republic
Post Closing Trial Balance
Aug 31,2023
Accounts Account N.o
Cash------------------------------------------------------------------ 1
Accounts Recieveable--------------------------------------------- 6
Merchandise Inventory------------------------------------------- 3
Capital-------------------------------------------------------------- 2
e

Debit Balances Credit Balances


58,013
114017
58,801
230,831

230,831 230,831

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