Instructions: - Read the full exercise carefully first. - Tip: cross out the irrelevant information. - Then, complete the manual bookkeeping for this company in the worksheets provided. (General Journal, Sales Journal, Cash Receipts Journal, Purchase Journal, Cash Payments Journal, General Ledger x8 sheets, and Trial Balance). Please double check that you have all of these pages before you begin the exam. Good luck! SETTING: The year is 2025. George Matchstick starts his own sole proprietorship business, called Able Building Company, located in Prince George, BC. The company does small construction projects. SET-UP: Set up the General Ledger with the following 31 accounts: 100 Bank 110 Accounts Receivable Control 160 Leasehold Improvements 202 Accounts Payable Control 210 GST Payable 220 GST-ITCs 230 PST Payable 350 Capital, George Matchstick 420 Sales 510 Purchases 512 Subcontract Expense 520 Bank Charges 524 Delivery Expense 526 Freight-In Expense 528 Insurance Expense 530 Meals & Entertainment Expense 532 Office Supplies Expense 534 Shop Supplies Expense 540 Telephone Expense 542 Utilities Expense 550 Vehicle Expense 110-10 A/R Tracy Clark 110-20 A/R Finley Troll 202-10 A/P BC Hydro 202-12 A/P Fortis BC 202-14 A/P Telus 202-20 A/P Friendly Plumber Company 202-24 A/P John's Transport 202-30 A/P Lightning Electric 202-60 A/P Rona Capital Building Supplies 202-70 A/P Tom Johnson Set up the Sales Journal (SJ1) with the following column titles: Sales Cr. GST Payable Cr. PST Payable Cr. Set up the Cash Receipts Journal (CRJ1) with the following column titles: General Ledger Cr. Set up the Purchases Journal (PJ1) with the following column titles: Purchases Dr. Subcontract Dr. GST-ITC Dr. Set up the Cash Payments Journal (CPJ1) with the following column titles: As is (no additional column headings) Set up a General Journal Page (GJ1). Manual Bookkeeping: Record the following transactions in the Special Journals for the month of April 2025. Sales taxes are GST (5%) and PST (7%). April 1George Matchstick invests $30,000.00 into his company Able Building Company. April 1George Matchstick pays for 30 days of business liability insurance to HUB Insurance Brokers, $300. He pays this with his business debit card right away. There is no tax on insurance. Invoice number D40013. April 1 Met with his client, Tracy Clark, and issued her a sales invoice for the building of a small cabin on her property at West Lake. The client already has services to the building site and a foundation laid. The invoice details: April 1Invoice 100, Dated today, $125,000.00 sale for the building of a 600 sq foot cabin as per blueprints reviewed together on April 1, 2025. GST is charged in addition to this amount, but no PST. The terms are 50% due today and 50% due at completion in 25 days. George receives a cheque for today's 50% (50% of the total bill including taxes.) For these types of projects, the builder is considered the "end user" for PST purposes. George will pay PST on his materials and he will not charge PST to his customer. April 1Purchased $7,000.00 plus GST & PST of lumber and other construction materials from Rona Capital Building Supplies, on account. These products are for the building of a cabin, which is a piece of real estate, therefore no PST will be charged to the customer Tracy Clark, but Able Building Company will have to pay PST on the purchases that they buy from Rona (and other building supply companies). Invoice 222-101, terms n/30. April 1John's Transport delivered these materials to the Able Building Company's shop, and charged Able Building Company, on account, $724.50 including GST. Invoice 801, terms, n/20. April 6Received various business bills in the mail and entered them into the appropriate journal(s): Telus, dated April 2'25, $132.00 including GST & PST. Terms n/30 BC Hydro, dated April 3'25, $310.00 including GST & PST. Terms n/30 Fortis BC Gas, dated April 3'25, $32.00 including GST & PST. Terms n/30 The formula for breaking out taxes is: Total/(100+tax rates)*(tax rate you want to calculate) Ie for Telus above: 132.00 / 112 * 5 = 5.89 (so the GST is 5.89) April 12Tom Johnson, a journeyman carpenter who subcontracts himself out to George's company to help with projects now and then, issues Able Building Company an invoice for his work on Tracy Clark's cabin. Invoice 23, dated today, $7,000.00 + GST. Terms: n/15. April 18George pays some bills by cheque. The company's checkbook starts at cheque 100. He wrote 2 cheques to pay the BC Hydro, and Fortis BC bills in full. He dated the cheques for today and mailed the cheques today. He also wrote a cheque for Tom Johnson in the amount of $4,000.00, dated today, and mailed that today. April 19Lightning Electric installed the basic electrical box and wiring for the cabin. They gave George their invoice: Invoice 214, dated today, $4,225.00 plus GST, for this installation (materials are included in the installation fee). Terms are n/15. April 20Friendly Plumber Company installed a small kitchen and bathroom in the cabin. They gave George their invoice: Invoice 433, dated today, $36,000.00 plus GST, for the installation (materials are included in the installation fee) of a kitchen and bathroom. The terms are 25% of entire bill due upon receipt, balance due n/15. April 20George wrote a cheque to pay the 25% owed to Friendly Plumber Company and gave it to them. April 20 George bought various finishing materials from Rona Building Supplies Company, on account. These finishing materials should be all that he needs to finish the cabin (paint, handles, trim, light fixtures, etc.). Invoice 222-486, terms n/30. This transaction totaled $10,000.00 plus GST and PST. April 25George finishes work on the cabin and brings client out to see it. She is ecstatic, all looks great, and the client writes George a cheque for the full balance owing on account, which George promptly deposits in the bank. April 29 George makes payments by cheque on some of the o/s accounts: Pays $20,000 to Friendly Plumber Pays Lightning Electric balance in full Pays 50% of the balance owing to Rona April 30George signs up a new customer, Finley Troll, for a basement renovation project. Invoice 101, $15,000 + GST, terms 50% up front, balance due upon completion. George receives a cheque for today's 50%. April 30Bookkeeper closes off all the special journals, tallies, completes the proofs, and posts to the General Ledger. (This is you: you are the bookkeeper. So do this now.) April 30Bank charges were not recorded in the special journals, which are now closed for the month. This needs to be recorded in the General Journal, and then posted to the General Ledger. April 30th bank fees $26.00. There are no taxes on bank fees. April 30George Matchstick takes a potential new client, Johnny Mack, out for lunch, pays with his business debit card and gives the receipt to the bookkeeper. This needs to be recorded in the General Journal and then posted to the General Ledger. Receipt details: $50.00 meal, $2.50 GST, $3.50 PST, $5.00 tip. Record all transactions in the appropriate special journals, only using the General Journal where explicitly indicated. Post to the General Ledger accounts. Prepare a Trial Balance as at April 30, 2025