Prepare Trial Balance , Balance Reconciliation Statement ,Journal entry as on 30th june

Transactions for the month of June are as follows:
June 1	Received $2 000 from B Winder for full payment of her debt as at 31 May, Receipt No 103 (hint, we may have given her a discount).
1	Paid the annual insurance premium of $2 472, Cheque 503.
1	Traded in the delivery truck for $7 000 in part payment for a new delivery truck costing $83 000. The remaining $76 000 was paid in cash, Cheque 504 (see depreciation information below). NOTE: You will need to wait until we have learnt Topic 8 to do the general journal part of this entry but you can enter the amount of cash in the appropriate cash journal before then.
2	Cash Sales, 12 Crazy Patchwork Quilts @ $180 each, Receipt No 104.
4	Paid S Satin the amount owing to them less 5% cash discount for early payment, Cheque 505.
6	Credit sales to T Liner of 20 Country Garden Quilts @ $340, Invoice No. 56.
6	Paid L Sheets the amount owing at 31 May and received a 7.5% discount for early payment, Cheque 506.
7	Paid wages owing for the fortnight $520, Cheque 507.
8	Paid C Woolley the full amount owing as at 31 May, Cheque 508.
9	Received $7,170 from B Studley as full payment of her debt as at 31 May, Receipt No 105.
14	Paid Electricity Account $670, Cheque 509.
15	Purchased 30 Country Garden Quilts @ $250 from C Woolley, Invoice 1290.
16	Purchased 25 Crazy Patchwork Quilts @ $115 from S Satin, Invoice 101.
18	Credit sales to B Winder of 33 Country Garden Quilts @ $348 each, Invoice No 57.
18	Cash sales, 15 Country Garden Quilts @ $300, Receipt No 106.
19	Credit sales to B Studley 25 Crazy Patchwork Quilts @ $184 each, Invoice No. 58.
21	B Studley returned 5 Crazy Patchwork Quilts as she decided she only wanted 20. Penny issued Credit Note 19 and gave B Studley a credit. As the Quilts were not damaged, they were returned to the inventory.
22	Paid wages owing for the fortnight $520, Cheque 510.
23	Received $5,100 from T Liner, Receipt No 107.
24	Credit sales to B Winder of 15 Crazy Patchwork Quilts @ $185, Invoice No. 59.
25	Purchased 40 Country Garden Quilts @ $252 each from L Sheets, Invoice 277.
26	Cash Sales, 10 Country Garden Quilts @ $365 and 10 Crazy Patchwork Quilts @ $185, Receipt No 108.
28	Received $3 000 from B Studley, Receipt No 109.
29	Paid S Satin amount owing less 5% discount for early payment, Cheque 511.
30	End of accounting period adjustments Insurance is paid once a year in advance on 1 June each year. No adjustment has been made during the year. Wages owing at 30 June $220. A stocktake in the office reveals that Packaging Materials on Hand are $680. Depreciation: Warehouse Fixtures and Fittings depreciation is based on 12 years usage and the straight line method (residual value $6 000) The old Delivery Truck sold on 30 June is depreciated at 18% using the diminishing balance method (residual $8 000). The new Delivery Truck bought on 1 June is to be depreciated at 25% using the diminishing balance method (residual $10,000). The Telephone and Internet account for June for $320 has not been received or paid. Allowance for Doubtful Debts needs to be adjusted to equal 7% of Accounts Receivable Control at 30 June. A stocktake revealed the following closing balances: Country Garden Quilt 34 Crazy Patchwork Quilt 7

The May Bank Reconciliation Statement is as follows:

Pennys Patchworks Bank Reconciliation Statement As at 31 May 2019
Balance as per Bank Statement		76 645 Cr
Add Outstanding Deposit		2 940
		79 585
Less Unpresented cheques
No 491	3 125
No 500	480
No 502	1 450	5 055
Balance as per Cash at Bank Account		74 530 Dr

Schedule of Accounts Receivable at 31 May 2019 Acc No Account Amount 7 250 101 B Studley 102 103 T Liner B Winder 4277 2 055 13 582 Schedule of Accounts Payable at 31 May 2019 Acc No 201 L Sheets Account Amount 5 618 5 557 202 C Woolley S Satin 203 5 360 16 535 Units Inventory Subsidiary Ledger at 31 May 2019 Item No Product Name 5001 Country Garden Ouilt 5002 Crazy Patchwork Quilt Unit Cost 245 42 Amount 10 290 4 368 39 112 14 658 The May Bank Reconciliation Statement is as follows: Penny's Patchworks Bank Reconciliation Statement As at 31 May 2019 Balance as per Bank Statement Add Outstanding Deposit 76 645 Cr 2940 79 585 Less Unpresented cheques No 491 No 500 3 125 480 1 450 5 055 No 502 Balance as per Cash at Bank Account 74 530 Dr The Trial Balance as at 31 May 2019 prepared by the old bookkeeper is as follows: Account Name Debit Credit Cash at Bank 74 530 Accounts Receivable Control 13 582 Allowance for Doubtful Debts 565 Inventory Control 14 658 Packaging Materials 2480 Ace No 1- 1100 1- 1104 1- 1105 1- 1115 1- 2121 1- 2125 1 - 3175 1- 3176 1- 3180 1 3181 Prepaid Insurance 1 890 Warehouse Fixtures and Fittings 42 000 Accum Depn-Warehouse Fixtures and Fittings 15 000 Delivery Truck 65 000 Accum Depn-Delivery Truck 47 000 1 Accounts Payable Control 16 535 2- 1200 2- 1215 Accrued Expense Payable P White, Capital 120 600 P White, Drawings 48 205 1300 3- 1310 3- 9000 Profit and Loss Summary Sales 165 244 4- 1000 Sales Rctums and Other Allowances 410 Interest Revenue 130 Discount Received 74 1005 4- 8410 4- 8420 5. 1000 6- 2540 Cost of Goods Sold 79 540 Salaries and Wages Expense 17350 Telephone and Internet Expense 2145 Electricity Expense 2545 6- 2547 3 035 Insurance Expense 2550 Packaging Materials Fixpense 2556 Depn Expense - Warehouse Fixtures and Fittings 2563 Depe Expense-Delivery Truck Bank I'ce Expense 2564 6- 3580 205 Bad Debts Expense 3590 Discount Allowed 118 3595 S365 148 $365 148 Penny received the following bank statement from her bank for the month of June. Penny's Patchworks A/c No 2350 National Park Bank BANK STATEMENT Debits Particulars Date 2019 Credits $ Balance $ $ Cr 76 645 79 585 81 585 2 940 2 000 2 160 Cr Cr Cr 5 092 7170 June 1 Balance forward 1 Cash and cheques 1 Cash and cheques 2 Cash and cheques 3 Cheque 505 9 Cash and cheques 11 Account Fee 12 Cheque 502 Cheque 503 16 Retumed Cheque (B Winder) 18 Cash and cheques 19 Interest Earned 19 Cheque 509 Cr SS 1 450 2472 83 745 78 653 85 823 85 768 84 318 81 846 79 846 84 346 Cr Cr 2 000 Cr 4 500 42 84 388 Cr 670 83 718 Cr 2 480 76 000 20 Cheque 500 Cheque 504 23 Cash and cheques 26 Cash and cheques 29 Cheque 510 29 Cheque 507 30 Transaction Fees 5 100 5 500 83 238 Cr 7238 C 12 338 CE 17838 Cr 17 318 Cr 16 798 Cr 520 520 37 16 761 Cr 3 Schedule of Accounts Receivable at 31 May 2019 Acc No Account Amount 7 250 101 B Studley 102 103 T Liner B Winder 4277 2 055 13 582 Schedule of Accounts Payable at 31 May 2019 Acc No 201 L Sheets Account Amount 5 618 5 557 202 C Woolley S Satin 203 5 360 16 535 Units Inventory Subsidiary Ledger at 31 May 2019 Item No Product Name 5001 Country Garden Ouilt 5002 Crazy Patchwork Quilt Unit Cost 245 42 Amount 10 290 4 368 39 112 14 658 The May Bank Reconciliation Statement is as follows: Penny's Patchworks Bank Reconciliation Statement As at 31 May 2019 Balance as per Bank Statement Add Outstanding Deposit 76 645 Cr 2940 79 585 Less Unpresented cheques No 491 No 500 3 125 480 1 450 5 055 No 502 Balance as per Cash at Bank Account 74 530 Dr The Trial Balance as at 31 May 2019 prepared by the old bookkeeper is as follows: Account Name Debit Credit Cash at Bank 74 530 Accounts Receivable Control 13 582 Allowance for Doubtful Debts 565 Inventory Control 14 658 Packaging Materials 2480 Ace No 1- 1100 1- 1104 1- 1105 1- 1115 1- 2121 1- 2125 1 - 3175 1- 3176 1- 3180 1 3181 Prepaid Insurance 1 890 Warehouse Fixtures and Fittings 42 000 Accum Depn-Warehouse Fixtures and Fittings 15 000 Delivery Truck 65 000 Accum Depn-Delivery Truck 47 000 1 Accounts Payable Control 16 535 2- 1200 2- 1215 Accrued Expense Payable P White, Capital 120 600 P White, Drawings 48 205 1300 3- 1310 3- 9000 Profit and Loss Summary Sales 165 244 4- 1000 Sales Rctums and Other Allowances 410 Interest Revenue 130 Discount Received 74 1005 4- 8410 4- 8420 5. 1000 6- 2540 Cost of Goods Sold 79 540 Salaries and Wages Expense 17350 Telephone and Internet Expense 2145 Electricity Expense 2545 6- 2547 3 035 Insurance Expense 2550 Packaging Materials Fixpense 2556 Depn Expense - Warehouse Fixtures and Fittings 2563 Depe Expense-Delivery Truck Bank I'ce Expense 2564 6- 3580 205 Bad Debts Expense 3590 Discount Allowed 118 3595 S365 148 $365 148 Penny received the following bank statement from her bank for the month of June. Penny's Patchworks A/c No 2350 National Park Bank BANK STATEMENT Debits Particulars Date 2019 Credits $ Balance $ $ Cr 76 645 79 585 81 585 2 940 2 000 2 160 Cr Cr Cr 5 092 7170 June 1 Balance forward 1 Cash and cheques 1 Cash and cheques 2 Cash and cheques 3 Cheque 505 9 Cash and cheques 11 Account Fee 12 Cheque 502 Cheque 503 16 Retumed Cheque (B Winder) 18 Cash and cheques 19 Interest Earned 19 Cheque 509 Cr SS 1 450 2472 83 745 78 653 85 823 85 768 84 318 81 846 79 846 84 346 Cr Cr 2 000 Cr 4 500 42 84 388 Cr 670 83 718 Cr 2 480 76 000 20 Cheque 500 Cheque 504 23 Cash and cheques 26 Cash and cheques 29 Cheque 510 29 Cheque 507 30 Transaction Fees 5 100 5 500 83 238 Cr 7238 C 12 338 CE 17838 Cr 17 318 Cr 16 798 Cr 520 520 37 16 761 Cr 3