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					                              Aussi Cossi
                         Accounting Records –
                         Business Source Data

Transactions for May

  Date                   Transactions Summary                   $
MAY
1-May    Opening the books of the business:
           Establishment Costs                                  5   400
           Fixtures and Fittings                               50   000
           Equipment and Machinery                             20   000
           Motor Vehicle                                       30   000
           Cash                                                60   000
           Inventory                                           50   000
           Bank Loan – ABC Bank                                16   000
           Capital                                            194   000

         Paid Rent (May) to Billings Holdings $2500             2750
         (Plus GST) Chq0011

May 2    Cash Register: Retail sales $1100                      1100
           (includes GST)
         Account sales to:
           Utopia
           INV001: 20 Dresses <DRS1> @ 180, $3600               3960
           (plus 10% GST) (Cost $60)
           Ultra
           INV002: 45 Tops <TOP1>@ 80, $3600                    3600
           (Export- no GST) (Cost $40)

May 3    Cash Register: Retail sales $2299 (include GST)        2299
         Paid wages: (fortnightly) $700 (EFT)                    700

May 4    Account Sales to:
           Five Star Surf:
           INV003: 25 Beach wear <BC1>@ $40, $1000              1100
                     (plus 10% GST)
           Bainses:
           INV003: 30 Trousers <TR3>@ $90, $2700 (Cost $50)
                     15 Shirts <SH3>@ $95, $1425 (Cost $50)
                     = $4125, (plus GST)                        4538

May 5    Cash Register: Retail sales $2497 (includes GST)       2497
         Ordered from:
            Ultima:
            50 Tops<TOP1> @ $40 (plus 10% GST) = $2200
            Ventura:
            10 Shirts <SH2>@ $30 (Plus GST) = $330

Saturday
May 6    Cash Register: Retail sales $3498 (includes GST)     3498

May 8    Cash Register: Retail sales $1496 (includes GST)     1496
         Paid Allans Sewing Service for repairs sewing         154
         machine $462 (includes GST) Chq0012
         Paid Simms Cleaning $154 (includes GST) Chq0013      462

May 9    Cash Register: Retail sales $1452 (includes GST)     1452
         Received Delivery of ordered goods:
           Ultima: 50 Tops

May 10   Cash Register: Retail sales $880                     880
         Received invoice from:
            Ultima: $2200 (U150) (Includes GST)               2200

May 11   Paid AllStar Advertising for ongoing campaign $759   759
         (includes GST) Chq0014
         Ordered from:
            Fashion Designers: 75 Dresses<DR3> @ $60
            (Import) (Plus GST) = $4950
         Received delivery and invoice from:
            Ventura: 10 Shirts<SH2> @ $30 (V25) (Import)      330
            (Plus GST)
         Account sales to:
            Twiddle Dee:
            INV005: 50 Dresses<DR3> @ $180 (Export)           9000
            (Cost $60)
         Received payment from:
            Bainses: $4402 (discount taken) Rec101            4402

May 12   Cash Register: Retail sales $3201 (Includes GST)
                        Service fees $594 (Includes GST)      3795

Saturday
May 13   Cash Register: Retail sales $2596 (Includes GST)     2596

May 15   Cash Register: Retail sales $1100 (Includes GST)     1100
         Ordered from:
           Tiggy’s: 50 Slacks <SL2>@ $50 (plus GST) = $2750
         Received payment from:
           Ultra: $3492 (Discount taken) Rec102                  3492

May 17   Paid Wages (fortnightly) $700 (EFT)                     700
         Received Goods and Invoice from:
           Tiggy’s: T76: 40 Slacks (Part order) @ $50            2200
           (Plus GST)
           Fashion Designers: FD301: As per order - 75 Dresses   4950
         Paid Ultima (Discount taken) Chq0015                    2156

May 19   Cash Register: Retail sales $1342 (Includes GST)        1342
         Paid Paula Rodgers - Accountancy Fees $825               825
         (Includes GST) Chq0016
         Paid Al Taylors $440 (Includes GST) Chq0017              440
         Paid for Taylors Computer Consulting for Business       3850
         Accounting Software $3850 (Includes GST) Chq0018
         Paid for Taylors Computer Consulting for computer       4510
         equipment Chq0019

Saturday
May 20   Cash Register: Retail sales $1892 (Includes GST)        2332

May 22   Paid Simms Cleaning Service $154 (GST included)         154
         Chq0020
         Received payment from:
           Utopia: $3960 Rec103                                  3960
           Tweedle Dee: $8730 (Discount taken) Rec104            8730
         Returned goods to:
           Tiggy’s: 5 slacks @ $50 (Plus GST) CN01                275
         Paid Ventura: $320 (discount taken) Chq0021              320
         Paid Tiggy’s: (35 @ $50) (Plus GST) (discount taken)    1886
           Chq0022

May 24   Cash Register: Retail sales $1023 (Includes GST)        1793


May 26   Cash Register: Retail sales $660 (includes GST)         660
         Account sales to:
            Ultra:
            INV006: 50 Tops<TOP1>@ $82 (Export) $4100
                    (Cost $40)
                    30 Slacks <SL3>@ $200 (Export) $6000
                      (Cost $80) GST Free)                                   10100
           Received Goods and Invoice from:
             Tiggys: 10 Slacks @ $80 (Plus GST)                               550

Saturday
May 27   Cash Register: Retail sales $3652 (includes GST)                    3652

May 31     Cash Register: Retail sales $2354 (includes GST)                  2354
           Paid Rent (June) to Billings Holdings $2750                       2750
           (includes GST) Chq0023
           Paid Electricity $451 (Includes GST) for Mar to May                451
           Chq0024
           Paid Telephone $330 (Includes GST) for March to May                330
           Chq0025
           Paid Business Insurance Policy (Annual - May1 to                  1320
           April 30) to PB Insurance $1320 (Includes GST) Chq0026
           Paid Legal Expenses for Borrowing to Brewer and Brewer            1485
           $1485 (Includes GST) Chq0027
           Paid wages (fortnightly) $1400 (EFT)                              1400
           Paid Fashion Designers (Discount taken) Chq0028:                  4801
           Received payment for design royalties from Malaysia               5000
           $5000 (Rec105)
           Ordered from:
              Ventura Designs:
              150 Shirts @ $30 (Import) (Plus GST) =$4950
              Zodiac:
              200 Shirts @ $10 (Import) (Plus GST) =$2200
              200 Trousers @ $20 (Import) (Plus GST) =$4400

Notes:
Calculations

For the manual system, all calculations are rounded to the nearest dollar.
           Takings are deposited to the Bank account on the day the
           Cash Register is balanced.
           Wages paid up to Wednesday of each fortnight

				
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