Proprietor: Ms. Nicole Coffeur Name: Description: Hair and Beauty Salon Teenage Style Bag The business has...

 

Transcribed Image Text:

Proprietor: Ms. Nicole Coffeur Name: Description: Hair and Beauty Salon Teenage Style Bag The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital $13,092 $22.211 $39,126 $9,480 $27,734 $20,333 $755 Addifional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Hair styling equipment useful life (years) Hair styling equipment scrap value (S) Closing stock of hair styling supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 5,576 3,158 671 Transactions: Description 1-Jun Paid General Insurance Date Amount Date 2-Jun Purchase hair styling supplies - account 4-Jun Hair styling fees - Cash 8-Jun Manicure services - Cash 10-Jun Sundry Expenses 13-Jun Advertising Expense - Cash 14-Jun Receive Payment from Account Customers 15-Jun Manicure services - Account Description 3-Jun Rent of Business Premises 5-Jun Payment to Account Payable 8-Jun Receive Payment from Accoumt Customers 10-Jun Manicure services - Cash 13-Jun Cash Withdrawals by Owner 15-Jun Staff Wages 16-Jun Hair styling fees - Account 20-Jun Facial services fees - Cash $2,363 $3,068 $1,113 $1,373 $812 Amount $652 $1,352 $864 $563 $891 $1,748 $1,380 $811 $2,747 $1,680 $1,777 $3,406 $1,290 $1,735 $507 $2,747 $1,775 $1,718 $1,276 $100 $1,474 $1,405 18-Jun Facial services fees - Cash 23-Jun Hair styling fees - Account 23-Jun Additional cash contributed by owner 24-Jun Hair styling fees - Cash 25-Jun Facial services fees - Cash 23-Jun Manicure services - Account 25-Jun Purchase books and magazines 26-Jun Payment to Account Payable 28-Jun Advertising Expense - Account 26-Jun Motor Vehicle Expenses 29-Jun Staff Wages Соmments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely hair styling services, manicure services and facial services. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account". - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. Requlred: Based on the above information, prepare: (a) General journal for Teenage Style Bag for the period ended 30 June 2019. (b) General ledger for Teenage Style Bag for the period ended 30 June 2019. (C) 10- column worksheet for Teenage Style Bag for the period ended 30 June 2019. General Journal Date Account Name Dr Cr General Ledger Sample 1 Hair Styling Supplies Date Аccount Dr Date Account Cr 1/6 Opening Balance 862 30/6 Closing Balance Balance amount Balance amount 1/7 Opening Balance General Ledger Sample 2 Cash at Bank Date Асcount Dr Date Account Cr 1/6 Opening Balance 19,843 1/6 General Insurance 2,913 Balance amount 30/6 Closing Balance 1/7 Opening Balance Balance amount 10- Column Worksheet Асcount Trial Adjustments Adjusted Income BalanceSheet name Balance Trial Statement Balance Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Proprietor: Ms. Nicole Coffeur Name: Description: Hair and Beauty Salon Teenage Style Bag The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital $13,092 $22.211 $39,126 $9,480 $27,734 $20,333 $755 Addifional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Hair styling equipment useful life (years) Hair styling equipment scrap value (S) Closing stock of hair styling supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 5,576 3,158 671 Transactions: Description 1-Jun Paid General Insurance Date Amount Date 2-Jun Purchase hair styling supplies - account 4-Jun Hair styling fees - Cash 8-Jun Manicure services - Cash 10-Jun Sundry Expenses 13-Jun Advertising Expense - Cash 14-Jun Receive Payment from Account Customers 15-Jun Manicure services - Account Description 3-Jun Rent of Business Premises 5-Jun Payment to Account Payable 8-Jun Receive Payment from Accoumt Customers 10-Jun Manicure services - Cash 13-Jun Cash Withdrawals by Owner 15-Jun Staff Wages 16-Jun Hair styling fees - Account 20-Jun Facial services fees - Cash $2,363 $3,068 $1,113 $1,373 $812 Amount $652 $1,352 $864 $563 $891 $1,748 $1,380 $811 $2,747 $1,680 $1,777 $3,406 $1,290 $1,735 $507 $2,747 $1,775 $1,718 $1,276 $100 $1,474 $1,405 18-Jun Facial services fees - Cash 23-Jun Hair styling fees - Account 23-Jun Additional cash contributed by owner 24-Jun Hair styling fees - Cash 25-Jun Facial services fees - Cash 23-Jun Manicure services - Account 25-Jun Purchase books and magazines 26-Jun Payment to Account Payable 28-Jun Advertising Expense - Account 26-Jun Motor Vehicle Expenses 29-Jun Staff Wages Соmments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely hair styling services, manicure services and facial services. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account". - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. Requlred: Based on the above information, prepare: (a) General journal for Teenage Style Bag for the period ended 30 June 2019. (b) General ledger for Teenage Style Bag for the period ended 30 June 2019. (C) 10- column worksheet for Teenage Style Bag for the period ended 30 June 2019. General Journal Date Account Name Dr Cr General Ledger Sample 1 Hair Styling Supplies Date Аccount Dr Date Account Cr 1/6 Opening Balance 862 30/6 Closing Balance Balance amount Balance amount 1/7 Opening Balance General Ledger Sample 2 Cash at Bank Date Асcount Dr Date Account Cr 1/6 Opening Balance 19,843 1/6 General Insurance 2,913 Balance amount 30/6 Closing Balance 1/7 Opening Balance Balance amount 10- Column Worksheet Асcount Trial Adjustments Adjusted Income BalanceSheet name Balance Trial Statement Balance Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Proprietor: Ms. Nicole Coffeur Name: Description: Hair and Beauty Salon Teenage Style Bag The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital $13,092 $22.211 $39,126 $9,480 $27,734 $20,333 $755 Addifional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Hair styling equipment useful life (years) Hair styling equipment scrap value (S) Closing stock of hair styling supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 5,576 3,158 671 Transactions: Description 1-Jun Paid General Insurance Date Amount Date 2-Jun Purchase hair styling supplies - account 4-Jun Hair styling fees - Cash 8-Jun Manicure services - Cash 10-Jun Sundry Expenses 13-Jun Advertising Expense - Cash 14-Jun Receive Payment from Account Customers 15-Jun Manicure services - Account Description 3-Jun Rent of Business Premises 5-Jun Payment to Account Payable 8-Jun Receive Payment from Accoumt Customers 10-Jun Manicure services - Cash 13-Jun Cash Withdrawals by Owner 15-Jun Staff Wages 16-Jun Hair styling fees - Account 20-Jun Facial services fees - Cash $2,363 $3,068 $1,113 $1,373 $812 Amount $652 $1,352 $864 $563 $891 $1,748 $1,380 $811 $2,747 $1,680 $1,777 $3,406 $1,290 $1,735 $507 $2,747 $1,775 $1,718 $1,276 $100 $1,474 $1,405 18-Jun Facial services fees - Cash 23-Jun Hair styling fees - Account 23-Jun Additional cash contributed by owner 24-Jun Hair styling fees - Cash 25-Jun Facial services fees - Cash 23-Jun Manicure services - Account 25-Jun Purchase books and magazines 26-Jun Payment to Account Payable 28-Jun Advertising Expense - Account 26-Jun Motor Vehicle Expenses 29-Jun Staff Wages Соmments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely hair styling services, manicure services and facial services. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account". - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. Requlred: Based on the above information, prepare: (a) General journal for Teenage Style Bag for the period ended 30 June 2019. (b) General ledger for Teenage Style Bag for the period ended 30 June 2019. (C) 10- column worksheet for Teenage Style Bag for the period ended 30 June 2019. General Journal Date Account Name Dr Cr General Ledger Sample 1 Hair Styling Supplies Date Аccount Dr Date Account Cr 1/6 Opening Balance 862 30/6 Closing Balance Balance amount Balance amount 1/7 Opening Balance General Ledger Sample 2 Cash at Bank Date Асcount Dr Date Account Cr 1/6 Opening Balance 19,843 1/6 General Insurance 2,913 Balance amount 30/6 Closing Balance 1/7 Opening Balance Balance amount 10- Column Worksheet Асcount Trial Adjustments Adjusted Income BalanceSheet name Balance Trial Statement Balance Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Proprietor: Ms. Nicole Coffeur Name: Description: Hair and Beauty Salon Teenage Style Bag The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2022) Hair Styling Equipment Hair Styling Supplies Capital $13,092 $22.211 $39,126 $9,480 $27,734 $20,333 $755 Addifional Information: Bank loan interest rates (% per year) Motor vehicle useful life (years) Motor vehicle scrap value ($) Insurance paid for (months) Rent paid for (months) Hair styling equipment useful life (years) Hair styling equipment scrap value (S) Closing stock of hair styling supplies on 30/6 ($) Staff work a 14 day fortnight and are paid on the 15th day. 5,576 3,158 671 Transactions: Description 1-Jun Paid General Insurance Date Amount Date 2-Jun Purchase hair styling supplies - account 4-Jun Hair styling fees - Cash 8-Jun Manicure services - Cash 10-Jun Sundry Expenses 13-Jun Advertising Expense - Cash 14-Jun Receive Payment from Account Customers 15-Jun Manicure services - Account Description 3-Jun Rent of Business Premises 5-Jun Payment to Account Payable 8-Jun Receive Payment from Accoumt Customers 10-Jun Manicure services - Cash 13-Jun Cash Withdrawals by Owner 15-Jun Staff Wages 16-Jun Hair styling fees - Account 20-Jun Facial services fees - Cash $2,363 $3,068 $1,113 $1,373 $812 Amount $652 $1,352 $864 $563 $891 $1,748 $1,380 $811 $2,747 $1,680 $1,777 $3,406 $1,290 $1,735 $507 $2,747 $1,775 $1,718 $1,276 $100 $1,474 $1,405 18-Jun Facial services fees - Cash 23-Jun Hair styling fees - Account 23-Jun Additional cash contributed by owner 24-Jun Hair styling fees - Cash 25-Jun Facial services fees - Cash 23-Jun Manicure services - Account 25-Jun Purchase books and magazines 26-Jun Payment to Account Payable 28-Jun Advertising Expense - Account 26-Jun Motor Vehicle Expenses 29-Jun Staff Wages Соmments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2019. - Note the list of transactions is in date order, left to right, line by line. - Use three separate ledger accounts for revenue, namely hair styling services, manicure services and facial services. All revenues relate to the month of June. - Transactions involve cash unless specified as 'Account". - Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. - Round your calculations to the nearest dollar. Requlred: Based on the above information, prepare: (a) General journal for Teenage Style Bag for the period ended 30 June 2019. (b) General ledger for Teenage Style Bag for the period ended 30 June 2019. (C) 10- column worksheet for Teenage Style Bag for the period ended 30 June 2019. General Journal Date Account Name Dr Cr General Ledger Sample 1 Hair Styling Supplies Date Аccount Dr Date Account Cr 1/6 Opening Balance 862 30/6 Closing Balance Balance amount Balance amount 1/7 Opening Balance General Ledger Sample 2 Cash at Bank Date Асcount Dr Date Account Cr 1/6 Opening Balance 19,843 1/6 General Insurance 2,913 Balance amount 30/6 Closing Balance 1/7 Opening Balance Balance amount 10- Column Worksheet Асcount Trial Adjustments Adjusted Income BalanceSheet name Balance Trial Statement Balance Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr

Answer rating: 100% (QA)

General Journal Date Debit Credit Account Name 01Jun Prepaid Insurance Cash 2913 2... View the full answer