| Hunny Pots | |||||||||||
| Cash Receipts Journal | |||||||||||
| July 2018 | |||||||||||
| Date | Receipt No | Details | Bank | COGS | Sales | Delivery Cost | Accounts Receivable | Others | GST Collected | ||
| 1/7/2018 | 101 | Winnie-T.P.Bear-Capital | 20,000.00 | $20,000.00 | |||||||
| 102 | Loan-Bank of Ashdown | 4,35,000.00 | $4,35,000.00 | ||||||||
| 04-07-2018 | 103 | Owl Garden Centre | 2,750.00 | $2,750.00 | |||||||
| 05-07-2018 | 105 | Cash Sales | 66.00 | 17.00 | $60.00 | $6.00 | |||||
| 7/7/2018 | 104 | Heffalump Hardware | 10,450.00 | $10,450.00 | |||||||
| 17-07-2018 | 105 | Cash Sales | 330.00 | 85.00 | $300.00 | $30.00 | |||||
| 25/7/2018 | 106 | Cash Sales | 110.00 | 30.00 | $100.00 | $10.00 | |||||
| 28-07-2018 | 109 | Tiger garden World | 5,000.00 | $5,000.00 | |||||||
| 31-07-2018 | 107 | Cash Sales | 132.00 | 34.00 | $120.00 | $12.00 | |||||
| 100530159 | Totals: | $ 4,73,838.00 | $ 166.00 | $ 580.00 | $ – | $ 18,200.00 | $ 4,55,000.00 | $ 58.00 | |||
| Hunny Pots | |||||||||||
| Cash Payments Journal | |||||||||||
| July 2018 | |||||||||||
| Date | Cheque No | Details | Bank | Accounts Payable | Inevntory | Freight Inward | Wages | Others | GST Paid | ||
| 01-07-2018 | 239 | Purchase of Land & Premises | $ 4,40,000.00 | 4,00,000.00 | 40,000.00 | ||||||
| 02-07-2018 | 240 | Purchase of Laptop | $ 2,860.00 | 2,600.00 | 260.00 | ||||||
| 241 | Rent for July | $ 3,300.00 | 3,000.00 | 300.00 | |||||||
| 04-07-2018 | 242 | Superannuation for June | $ 9,360.00 | 9,360.00 | |||||||
| 05-07-2018 | 243 | Eeyore Ceramics | $ 4,400.00 | $ 4,400.00 | |||||||
| 07-07-2018 | 244 | Fortnightly wages paid | $ 5,200.00 | 5,200.00 | |||||||
| 10-07-2018 | 245 | Electricity bill paid | $ 341.00 | 310.00 | 31.00 | ||||||
| 14-07-2018 | 246 | Advertising Expense | $ 2,750.00 | 2,500.00 | 250.00 | ||||||
| 17-07-2018 | 247 | Piglet Pottery | $ 2,970.00 | $ 2,970.00 | |||||||
| 18-07-2018 | 248 | Stationery Supplies | $ 550.00 | 500.00 | 50.00 | ||||||
| 20-07-2018 | 249 | Telpehone, Stamps & Water Rates | $ 1,288.00 | 1,256.00 | 32.00 | ||||||
| 21-07-2018 | 250 | Fortnightly wages paid | $ 5,200.00 | 5,200.00 | |||||||
| 251 | Repairing expenses paid | $ 187.00 | 170.00 | 17.00 | |||||||
| 25-07-2018 | 252 | Donation made | $ 200.00 | 200.00 | |||||||
| 27-07-2018 | 253 | Purchase of Delivery Van | $ 14,960.00 | 13,600.00 | 1,360.00 | ||||||
| 254 | Possum’s Pottery | $ 7,980.00 | $ 7,980.00 | ||||||||
| 28-07-2018 | 255 | Cleaning Expenses paid | $ 440.00 | 400.00 | 40.00 | ||||||
| 31-07-2018 | 256 | Drawings | $ 1,500.00 | 1,500.00 | |||||||
| X | Bank Fees | 85.00 | 85.00 | ||||||||
| Loan Reapyment | 2,795.00 | 2,795.00 | |||||||||
| 100530159 | Totals: | 5,06,366.00 | 15,350.00 | – | – | 10,400.00 | 4,38,276.00 | 42,340.00 | |||
| Hunny Pots | |||||||||||
| Sales Journal | |||||||||||
| July 2018 | |||||||||||
| Date | Invoice no | Account | Accounts Receivable | Sales | Delivery Cost | GST Collected | COGS | ||||
| 03-07-2018 | 1111 | Heffalump Hardware | 18,700.00 | 17,000.00 | 1,700.00 | 4,850.00 | |||||
| 06-07-2018 | 1112 | Owl Garden Centre | 25,300.00 | 23,000.00 | 2,300.00 | 6600 | |||||
| 11-07-2018 | 1113 | Gopher Florist | 550.00 | 500.00 | 50.00 | 150 | |||||
| 13-07-2018 | 1114 | Buster Trading | 1,760.00 | 1,600.00 | 160.00 | 470 | |||||
| 19-07-2018 | 1115 | Tiger Garden World | 8,910.00 | 8,000.00 | 100.00 | 810.00 | 2350 | ||||
| 26-07-2018 | 1116 | Heffalump Hardware | 2,750.00 | 2,500.00 | 250.00 | 725.00 | |||||
| 100530159 | Totals: | 57,970.00 | 52,600.00 | 100.00 | 5,270.00 | 15,145.00 | |||||
| Hunny Pots | |||||||||||
| Purchases Journal | |||||||||||
| Date | PO Number | Details | Accounts Payable | Inventory | Freight Inward | GST Paid | |||||
| 05-07-2018 | 8289 | Piglet Pottery | 3,355.00 | 3,000.00 | 50.00 | 305.00 | |||||
| 10-07-2018 | 23590 | Possums Pottery | $ 7,980.00 | $ 5,454.55 | $ 1,800.00 | $ 725.45 | |||||
| 24-07-2018 | 4202 | Porcupine Pots | 1,375.00 | 1,190.00 | 60.00 | $ 125.00 | |||||
| 100530159 | Totals: | 12,710.00 | 9,644.55 | 1,910.00 | 1,155.45 | ||||||
| Hunny Pots | |||||||||||
| Subsidary Ledger – Accounts Receivable | |||||||||||
| Date | Details | Debit | Credit | Balance | |||||||
| Buster Trading | 100530159 | ||||||||||
| 13-07-2018 | Credit Sales | $1,760.00 | $1,760.00 | ||||||||
| $1,760.00 | |||||||||||
| $1,760.00 | |||||||||||
| $1,760.00 | |||||||||||
| Gopher Florist | |||||||||||
| 11-07-2018 | Credit Sales | $550.00 | $550.00 | ||||||||
| $550.00 | |||||||||||
| $550.00 | |||||||||||
| $550.00 | |||||||||||
| Hefalump Hardware | |||||||||||
| Opening balance | $3,300.00 | $3,300.00 | |||||||||
| 02-07-2018 | Credit Sales | $18,700.00 | $22,000.00 | ||||||||
| 07-07-2018 | Cash Receipts | $10,450.00 | $11,550.00 | ||||||||
| 26-07-2018 | Credit Sales | $2,750.00 | $14,300.00 | ||||||||
| 28-07-2018 | Sales Return | $330.00 | $13,970.00 | ||||||||
| $13,970.00 | |||||||||||
| Owl Garden Supplies | |||||||||||
| Opening balance | $2,750.00 | $2,750.00 | |||||||||
| 04-07-2018 | Cash Receipts | $2,750.00 | $0.00 | ||||||||
| 06-07-2018 | Credit Sales | $25,300.00 | $25,300.00 | ||||||||
| $25,300.00 | |||||||||||
| Tigger Garden World | |||||||||||
| Opening balance | $2,090.00 | $2,090.00 | |||||||||
| 19-07-2018 | Credit Sales | $8,910.00 | $11,000.00 | ||||||||
| 28-07-2018 | Cash Receipts | $5,000.00 | $6,000.00 | ||||||||
| $6,000.00 | |||||||||||
| Kanga & Roo Gift Shop | |||||||||||
| Opening balance | $1,540.00 | $1,540.00 | |||||||||
| $1,540.00 | |||||||||||
| $1,540.00 | |||||||||||
| $1,540.00 | |||||||||||
| Hunny Pots | |||||||||||
| Accounts Payable Subsidary Ledger | |||||||||||
| Date | Details | Debit | Credit | Balance | |||||||
| Eeyore Ceramics | 100530159 | ||||||||||
| Opening balance | $4,400.00 | $4,400.00 | |||||||||
| 05-07-2018 | Cash Repayment | $4,400.00 | $0.00 | ||||||||
| $0.00 | |||||||||||
| $0.00 | |||||||||||
| Piglet Pottery | |||||||||||
| Opening balance | $2,970.00 | $2,970.00 | |||||||||
| 05-07-2018 | Credit Purchase | $3,355.00 | $6,325.00 | ||||||||
| 06-07-2018 | Purchase Return | 33 | $6,292.00 | ||||||||
| 17-07-2018 | Cash Repayment | $2,970.00 | $3,322.00 | ||||||||
| Porcupline Pots | |||||||||||
| 24-07-2018 | Credit Purchase | $1,375.00 | $1,375.00 | ||||||||
| $1,375.00 | |||||||||||
| $1,375.00 | |||||||||||
| $1,375.00 | |||||||||||
| Possum Pottery | |||||||||||
| 10-07-2018 | Credit Purchase | $7,980.00 | $7,980.00 | ||||||||
| 27-07-2018 | Cash Repayment | $7,980.00 | $0.00 | ||||||||
| $0.00 | |||||||||||
| $0.00 | |||||||||||
| Hunny Pots | |||||||||||
| General Journal | |||||||||||
| July 2018 | |||||||||||
| Date | Account Name | Debit | Credit | ||||||||
| 01-07-2018 | Insurance Expense | $4,500.00 | |||||||||
| Prepaid Insurance | $4,500.00 | ||||||||||
| Accrued Wages & Salaries | $2,080.00 | ||||||||||
| Wages & Salaries | $2,080.00 | ||||||||||
| Superannuation Payable | $9,360.00 | ||||||||||
| Superannuation Expense | $9,360.00 | ||||||||||
| Accrued Electricity | $280.00 | ||||||||||
| Electricity Expense | $280.00 | ||||||||||
| 6/7/2018 | Trade Creditors-Piglet Pottery | $33.00 | |||||||||
| Inventory | $30.00 | ||||||||||
| GST Paid | $3.00 | ||||||||||
| 28-07-2018 | Sales Return & Allowances | $300.00 | |||||||||
| GST Collected | $30.00 | ||||||||||
| Heffalump Hardware | $330.00 | ||||||||||
| Inventory | $90.00 | ||||||||||
| Cost of Goods Sold | $90.00 | ||||||||||
| 31-07-2018 | Wages & Salaries | 1320 | |||||||||
| Accrued Wages & Salaries | 1320 | ||||||||||
| Electricity Expense | 170 | ||||||||||
| Accrued Electricity | 170 | ||||||||||
| Prepaid Insurance | 4000 | ||||||||||
| Insurance Expense | 4000 | ||||||||||
| Prepaid Rates | 858 | ||||||||||
| Water Rates | 858 | ||||||||||
| Prepaid Advertising | 2000 | ||||||||||
| Advertising | 2000 | ||||||||||
| Superannuation | 936 | ||||||||||
| Superannuation Payable | 936 | ||||||||||
| Interest Expense | 2633 | ||||||||||
| Accrued Interest | 2633 | ||||||||||
| Depreciation | 1762 | ||||||||||
| Accum Depn – Premises | 458 | ||||||||||
| Accum Depn – Furniture & Equipment | 293 | ||||||||||
| Accum Depn – Motor Vehicle | 1011 | ||||||||||
| Hunny Pots | |||||||||||
| Account | Debit | Credit | |||||||||
| Cheque Account | $27,772.00 | ||||||||||
| Petty Cash | $100.00 | ||||||||||
| Accounts Receivable control | $49,120.00 | ||||||||||
| Inventory | $27,493.55 | ||||||||||
| Prepaid Advertising | $2,000.00 | ||||||||||
| Prepaid Insurance | $4,000.00 | ||||||||||
| Prepaid Rates | $858.00 | ||||||||||
| Furniture & Equipment at Cost | $31,600.00 | ||||||||||
| Furniture & Equipm Accum Dep | $8,423.38 | ||||||||||
| Motor Vehicles at Cost | $65,600.00 | ||||||||||
| MV Acc Depreciation | $12,710.63 | ||||||||||
| Land | $1,80,000.00 | ||||||||||
| Premises | $2,20,000.00 | ||||||||||
| Acc Dep Premises | $458.33 | ||||||||||
| Trade Creditors | $4,697.00 | ||||||||||
| GST Collected | $9,974.00 | ||||||||||
| GST Paid | $46,212.45 | ||||||||||
| Income Tax Payable | $19,100.00 | ||||||||||
| Accrued Wages & Salaries | $1,320.00 | ||||||||||
| Superannuation Payable | $936.00 | ||||||||||
| Accured Electricity | $170.00 | ||||||||||
| Accured Interest | $2,633.00 | ||||||||||
| Loan Bank of Ashdown Forest | $4,32,205.00 | ||||||||||
| Owner’s Capital | $1,48,704.00 | ||||||||||
| Owner’s Drawings | $1,500.00 | ||||||||||
| Sales | $53,180.00 | ||||||||||
| Sales Return & Allowances | $300.00 | ||||||||||
| Delivery Charges | $100.00 | ||||||||||
| COGS | $15,221.00 | ||||||||||
| Freight | $1,910.00 | ||||||||||
| Advertising | $500.00 | ||||||||||
| Bank Charges | $85.00 | ||||||||||
| Cleaning | $400.00 | ||||||||||
| Depreciation | $1,762.33 | ||||||||||
| Donation | $200.00 | ||||||||||
| Electricity | $200.00 | ||||||||||
| Insurance | $500.00 | ||||||||||
| Interest Expense | $2,633.00 | ||||||||||
| Maintenance | $170.00 | ||||||||||
| Rent | $3,000.00 | ||||||||||
| Stationary Expenses | $560.00 | ||||||||||
| Wages & Salaries | $9,640.00 | ||||||||||
| Superanuation Expense | $936.00 | ||||||||||
| Water Rates | $78.00 | ||||||||||
| Telephone | $260.00 | ||||||||||
| 100530159 | |||||||||||
| $6,94,611.33 | $6,94,611.33 | ||||||||||
| Hunny Pots | |||||||||||
| Income Statement | |||||||||||
| for month ending 31 July 2018 | |||||||||||
| $ | $ | ||||||||||
| Sales Revenue | $53,180.00 | ||||||||||
| Less: Sales Return | ($300.00) | ||||||||||
| Net Sales | $52,880.00 | ||||||||||
| Cost of Goods Sold | ($15,221.00) | ||||||||||
| Add: Freight Inwards | ($1,910.00) | ||||||||||
| Total Cost of Goods Sold | ($17,131.00) | ||||||||||
| GROSS PROFIT | $35,749.00 | ||||||||||
| Delivery Charges | $100.00 | ||||||||||
| TOTAL REVENUE | $35,849.00 | ||||||||||
| Expenses: | |||||||||||
| Advertising | ($500.00) | ||||||||||
| Bank Charges | ($85.00) | ||||||||||
| Cleaning | ($400.00) | ||||||||||
| Depreciation | ($1,762.33) | ||||||||||
| Donation | ($200.00) | ||||||||||
| Electricity | ($200.00) | ||||||||||
| Insurance | ($500.00) | ||||||||||
| Maintenance | ($170.00) | ||||||||||
| Rent | ($3,000.00) | ||||||||||
| Stationary Expenses | ($560.00) | ||||||||||
| Wages & Salaries | ($9,640.00) | ||||||||||
| Superanuation Expense | ($936.00) | ||||||||||
| Water Rates | ($78.00) | ||||||||||
| Telephone | ($260.00) | ||||||||||
| TOTAL EXPENSES | ($18,291.33) | ||||||||||
| NET PROFIT BEFORE INTEREST | $ 17,557.67 | ||||||||||
| Interest Expense | ($2,633.00) | ||||||||||
| NET PROFIT FOR THE PERIOD | $ 14,924.67 | ||||||||||
| Hunny Pots | |||||||||||
| Statement of Financial Position | |||||||||||
| as at 31 July 2018 | |||||||||||
| $ | $ | $ | |||||||||
| Current Assets: | |||||||||||
| Cheque Account | $ 27,772 | ||||||||||
| Petty Cash | $ 100 | ||||||||||
| Accounts Receivable control | $ 49,120 | ||||||||||
| Inventory | $ 27,494 | ||||||||||
| Prepaid Advertising | $ 2,000 | ||||||||||
| Prepaid Insurance | $ 4,000 | ||||||||||
| Prepaid Rates | $ 858 | ||||||||||
| Total Current Assets | $ 1,11,344 | ||||||||||
| Non-Current Assets: | |||||||||||
| Furniture & Equipment at Cost | $ 31,600 | ||||||||||
| Furniture & Equipm Accum Dep | -$ 8,423 | ||||||||||
| Furniture & Equipment, Net | $ 23,177 | ||||||||||
| Motor Vehicles at Cost | $ 65,600 | ||||||||||
| MV Acc Depreciation | -$ 12,711 | ||||||||||
| Motor Vehicles, Net | $ 52,889 | ||||||||||
| Land | $ 1,80,000 | ||||||||||
| Premises | $ 2,20,000 | ||||||||||
| Acc Dep Premises | -$ 458 | ||||||||||
| Premises, Net | $ 2,19,542 | ||||||||||
| Total Non-Current Assets | $ 4,75,608 | ||||||||||
| TOTAL ASSETS | $ 5,86,951 | ||||||||||
| Current Liabilities: | |||||||||||
| Trade Creditors | $ 4,697 | ||||||||||
| Current portion of Bank Loan | $ 30,750 | ||||||||||
| GST Collected | $ 9,974 | ||||||||||
| GST Paid | -$ 46,212 | ||||||||||
| Net GST Payable/(Receivable) | -$ 36,238 | ||||||||||
| Income Tax Payable | $ 19,100 | ||||||||||
| Accrued Wages & Salaries | $ 1,320 | ||||||||||
| Superannuation Payable | $ 936 | ||||||||||
| Accured Electricity | $ 170 | ||||||||||
| Accured Interest | $ 2,633 | ||||||||||
| Total Current Liabilities | $ 23,368 | ||||||||||
| Non-Current Liabilities: | |||||||||||
| Loan Bank of Ashdown Forest | $ 4,01,455 | ||||||||||
| Total Non-Current Liabilities | $ 4,01,455 | ||||||||||
| TOTAL LIABILITIES | $ 4,24,823 | ||||||||||
| Capital: | |||||||||||
| Owner’s Capital | $ 1,48,704 | ||||||||||
| Add: Net Profit for the period | $ 14,925 | ||||||||||
| $ 1,63,629 | |||||||||||
| Less: Owner’s Drawings | -$ 1,500 | ||||||||||
| TOTAL CAPITAL | $ 1,62,129 | ||||||||||
| TOTAL LIABILITIES & CAPITAL | $ 5,86,951 | ||||||||||
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