You are required to fill out the necessary accounts as well as blank accounts to be used if needed have been included. You will need to complete this task by entering the relevant information into the General Journal and Ledger Accounts. To set up Phil’s new system, enter the information below from the chart of accounts and schedules as an Opening Entry into the General Journal and post the relevant information to the General Ledger Accounts

 

Transcribed Image Text:

Phil DeHolzen- Transforming Your Garden - Chart of Accounts as at 1 June 2021 090 Bank 3475 Petty Cash Accounts Receivable Control 091 200 610 6161.10 611 Allowance for Bad and Doubtful Debts 793 111 5705 Inventory Gardening Consumables Prepaid Insurance Prepaid Telephone and Internet Landscaping Equipment Acc. Depreciation – Landscaping Equipment Equipment Storage Shed Accumulated Depreciation – ESS Vehicle 113 160 115 7200 116 176 140 23000 141 8280 150 60000 151 16200 160 45000 Acc. Depreciation -Vehicle Accounts Payable Control Advertising Payable Accrued Vehicle Registration Wages Payable Bank Loan (15-year) 12487.50 8998 161 800 205 1573 210 286 220 2480 299 54000 820 GST 257.90 900 Capital – Phil DeHolzen 45721.70 - Phil DeHolzen- Transforming Your Garden - Chart of Accounts as at 1 June 2021 090 Bank 3475 Petty Cash Accounts Receivable Control 091 200 610 6161.10 611 Allowance for Bad and Doubtful Debts 793 111 5705 Inventory Gardening Consumables Prepaid Insurance Prepaid Telephone and Internet Landscaping Equipment Acc. Depreciation – Landscaping Equipment Equipment Storage Shed Accumulated Depreciation – ESS Vehicle 113 160 115 7200 116 176 140 23000 141 8280 150 60000 151 16200 160 45000 Acc. Depreciation -Vehicle Accounts Payable Control Advertising Payable Accrued Vehicle Registration Wages Payable Bank Loan (15-year) 12487.50 8998 161 800 205 1573 210 286 220 2480 299 54000 820 GST 257.90 900 Capital – Phil DeHolzen 45721.70 -

Answer rating: 100% (QA)

Posting Reference DR CR Bank 90 3475 Petty cash 91 200 Account Re... View the full answer