337590_242118318_SpreadsheetPCA3 (3)

www.perdisco.com

spreadsheet version: PCA3e.S1

COFFEE CAFÉ SUPPLIER - AUSTRALASIAN EDITION 3 (PCA3e.S1)

© 2006-2010 Excel spreadsheet companion for:

PublisherPerdiscoSuite 2, Level 1, 89-97 Jones StreetUltimo, NSW 2007 AustraliaWebsite: www.perdisco.com.auEmail: [email protected]

Production teamCommissioning publisher and development editor: Jon CarterAuthors: Raechel Wight and Julyana CahyadiTechnical editor: Liam CareyGraphic designer: Ryan Dunn

Publisher's thanks

Copyright notice

About the authors

Perdisco Coffee and Café Supplier Accounting Practice Set, Australasian Edition 3

This practice set contains instructional content and questions selected from our comprehensive catalogue. The production credits acknowledge the key contributors to this work. In addition to those people listed, Perdisco would like to thank all authors, designers and technical experts (past and present) who have made possible the delivery of our high quality, academically rigorous and technically advanced learning resources.

The copyrights in this practice set are owned by Perdisco. All rights reserved. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part of this practice set may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. All inquiries should be addressed to the publisher. © 2006 Perdisco. Coffee & Café Supplier Accounting Practice Set Australasian Edition 1 published 2006.© 2008 Perdisco. Coffee & Café Supplier Accounting Practice Set Australasian Edition 2 published 2008.© 2010 Perdisco. Coffee & Café Supplier Accounting Practice Set Australasian Edition 3 published 2010.© 2010 Perdisco. This Excel spreadsheet companion for Australasian Edition 3 published in 2010.

Raechel Wight (B.Bus., B.V.A) is an educator and author who has taught undergraduate accounting at a number of universities. She has many years experience writing educational resources for accounting students and, in her prior professional career, worked as an auditor for Deloitte.


Julyana Cahyadi (B.Com., M.Bus.) teaches financial accounting and financial statement analysis to undergraduate students. She previously worked as a researcher for the National Centre for Banking and Capital Markets and has since then undertaken various consulting roles in Australia and overseas.



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Enter opening balances: Note that this Spreadsheet is not set up with the required opening balances of its various ledger accounts. You must do this step. Before starting to enter any work into this Spreadsheet you must first obtain a copy of the Practice Set and transfer all of the 31 May opening balances for each ledger account from that document into the ‘Accts receivable subsidiary’, ‘Accts payable subsidiary’ and ‘General ledger’ tabs of this

Read all instructions in the Practice Set: Remember that it is the associated Practice Set that determines the accounting entries in this Spreadsheet. Get a copy of that Practice Set and read all of its instructions carefully.

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General journal

Date Account and Explanation Post Ref. Debit Credit

June 11 Sales Returns and Allowances 401 1,198 ARC - SloZone 110-3 1,198(sales return)

June 18 Abejundio Coffee 210-3 1,403 Purchase Returns and Allowances 501 1,403(purchase return)

june 30 Depn Expense: Cash Registers 156156

(adjusting entry)

Depn Expense: Store Fixtures 366Accum Depn: Store Fixtures 366(adjusting entry)

Water Expense 235235

(adjusting entry)

Electricity Expense 874Electricity Payable 874(adjusting entry)

Wages Expense 516 1,320220 1,320

(adjusting entry)

Interest Expense 571 275Interest payable 225 275(adjusting entry)

Interest receivable 235 235Interest revenue 403 235(adjusting entry)

Rent expenses 540 3,000prepaid rent 140 3,000(adjusting entry)

advertising expense 511 3,000prepaid advertising 141 3,000(adjusting entry)

insurance expense 543 590prepaid insurance 142 590(adjusting entry)

june 30 profit and loss summary 310 43,214Sales Returns and Allowances 401 1,198Advertising Expense 511 3,000

Accum Depn: Cash Registers

Water Payable

Wages Payable


General journal


Wages Expense 516 12,005Rent Expense 540 3,000Electricity Expense 541 874Water Expense 542 235insurance Expense 543 590Office Supplies Expense 544 3,046Salary Expense 545 5,200Depn Expense: Cash Registers 560 156Depn Expense: Store Fixtures 561 366Interest Expense 571 275Bank Charges 572 5Discount Allowed 572 284(Closing entry to debit the Profit and Loss Summary account)cost of goods sale 12,980

june 30 sales revenue 400 46,370discount received 402 66interest revenue 403 335purchase return and allowance 1,403profit and loss summary 48,174(closing entry to credit the profit and loss summary account)

june 30 profit and loss summary 310 3,749june 30 retained earning 3,749

(To close the balance of the Profit and Loss Summaryaccount)

june 30 Office supplies expenses 544 3,046june 30 Office supplies 3,046

(adjusting entry)


General journal



General journal



General journal



Sales journal

Date Account Post Ref. Amount

June 7 110-3 ARC - SloZone 201 110-3 1,435June 12 110-6 ARC - Jandesh's Hot Spot 202 110-6 484June 17 110-5 ARC - Revamp Coffee Carts 203 110-5 2,060June 24 110-6 ARC - Jandesh's Hot Spot 204 110-6 470

Total 4,449Post Reference 400

Invoice No.


Purchases journal

Date Account Terms Post Ref. Amount

june 1 210-3 APC - Abejundio Coffee net 30 210-3 160june 1 210-1 APC - Brazil Imports Group 2/10,n/30 210-1 200june 30 210-4 APC - Buena Vista Coffee 2/10,n/30 210-4 155

Total 515Post reference 500


Cash receipts journal

Date Account Post Ref.

Debit Credit

Cash at Bank Sales Revenue

june 1 bank loan x 55,000 55,000June 4 Sales Revenue 400 5,961 5,961june 9 110-1 ARC - Central Coffee 110-1 2,560 284 2,844june 11 Sales Revenue 400 10,081 10,081june 18 Sales Revenue 400 9,658 9,658june 19 110-6 ARC - Jandesh's Hot Spot 110-6 300 300june 21 110-3 ARC - SloZone 110-3 2,381 2,381june 25 Sales Revenue 400 9,592 9,592june 30 110-4 ARC - Quick Bolt Coffee 110-4 3,701 3,701june 30 Sales Revenue 400 6,629 6,629june 30 110-6 ARC - Jandesh's Hot Spot 110-6 -300 -300june 30 403 Interest Revenue 403 235 235

Total 105,798 284 41,921 8,926 55,235Post Reference 100 402 400 110 x

Discount Allowed

Accounts Receivable

Other Accounts


Cash payments journal

Date Account Post Ref.

Debit Credit

Purchases Cash at Bank

June 2 210-2 APC - East Tangiers Co-op. 903 210-2 3,781 3,743 38june 2 210-4 APC - Buena Vista Coffee 904 210-4 1,413 1,385 28June 4 Purchase 905 500 220 220June 13 210-5 APC - Klam Wholesalers 906 210-5 3,144 3,144June 15 516 Wages Expense 907 516 5,103 5,103June 26 210-1 APC - Brazil Imports Group 908 210-1 3,632 3,632June 27 210-3 APC - Abejundio Coffee 909 210-3 3,425 3,425June 29 516 Wages Expense 910 516 5,582 5,582June 30 545 Salary Expense 911 545 5,200 5,200june 30 572 Bank Charges x 572 5 5

Total 15,395 220 15,890 31,439 66Post reference 210 500 x 100 573

Check No. Accounts

PayableOther

AccountsDiscount Received


Accounts receivable subsidiary ledger

Account No. 110-1

Date Description Ref. Debit Credit Balance

May 31 Balance 2,844 DrJune 9 Repayment CRJ 2,844 0

0

Account No. 110-2


May 31 Balance 3,881 dr

3,881 Dr

Account No. 110-3


May 31 Balance 2,144 DrJune 7 credit Sales SJ 1,435 3,579 drJune 11 sales return GJ 1,198 2,381 drJune 21 repayment CRJ 2,381 0

0

Account: ARC - Central Coffee

Account: ARC - Con's Coffee

Account: ARC - SloZone


Accounts receivable subsidiary ledger

Account No. 110-4


May 31 Balance 3,701 drJune 30 repayment CRJ 3,701 0

0

Account No. 110-5


May 31 Balance 0june 17 Credit sales SJ 2,060 2,060 dr

2,060 Dr

Account No. 110-6


May 31 balance 0June 12 credit sale SJ 484 484 DrJune 19 repayment CRJ 300 184 drJune 24 credit sales SJ 470 654 drJune 30 dishonoured cheque CRJ 300 954 Dr

954 Dr

Account: ARC - Quick Bolt Coffee

Account: ARC - Revamp Coffee Carts

Account: ARC - Jandesh's Hot Spot


Accounts payable subsidiary ledger

Account No. 210-1


May 31 Balance 3,432 crjune 1 credit purchase PJ 200 3,632 crjune 26 repayment CPJ 3,632 0

0

Account No. 210-2


May 31 balance 3,781 crJune 2 repayment CPJ 3,781 0

0

Account No. 210-3


may 31 Balance 4,668 crjune 1 credit purchase PJ 160 4,828 crjune 18 Purchase return and allowances GJ 1,403 3,425 crjune 27 repayment CPJ 3,425 0

0

Account: APC - Brazil Imports Group

Account: APC - East Tangiers Co-op.

Account: APC - Abejundio Coffee


Accounts payable subsidiary ledger

Account No. 210-4


May 31 balance 1,413 crJune 2 repayment CPJ 1,413 0June 30 credit purchase PJ 155 155 cr

155 cr

Account No. 210-5


May 31 balance 3,144 crJune 13 repayment CPJ 3,144 0

0

Account No. 210-6


May 31 Balance 0

0

Account: APC - Buena Vista Coffee

Account: APC - Klam Wholesalers

Account: APC - Jordo Gourmet Coffee


General ledger

Account No. 100


May 31 Balance 29,477 DrJune 30 total from cash receipt journal CRJ 105,798 135,275 DrJune 30 total from cash payment journal CPJ 31,439 103,836 Dr

june 30 unadjusted balance 103,836 Dr

Account No. 102


May 31 Balance 20,000 Dr

20,000 dr

Account No. 110


May 31 Balance 12,570 DrJune 11 Sales return from slo zones GJ 1,198 11,372 Drjune 30 Total from Sales journal SJ 4,449 15,821 drjune 30 Total from cash receipt journal CRJ 8,926 6,895 Dr

june 30 unadjusted balance 6,895 Dr

Account: Cash at Bank

Account: Short-term Investments

Account: ARC - Accounts Receivable Control


General ledger

Account No. 112


May 31 Balance 0june 31 interest GJ 100 100 dr

100 dr

Account No. 120


May 31 Balance 73,322 Drsales return from sloZone GJ 1,198 74,520 drpurchase return to abejundio GJ 1,403 73,117 dr

60,857

Account No. 130


May 31 Balance 7,083 Drjune 31 office supplies used GJ 4,037 3,046 dr

3,046 dr

Account: Interest Receivable

Account: Inventory

Account: Office Supplies


General ledger

Account No. 140


May 31 Balance 6,000 Drjune 30 rent expense GJ 3,000 3,000 dr

3,000 dr

Account No. 141


May 31 Balance 9,000 Drjune 30 advertising expense GJ 3,000 6,000 dr

6,000 dr

Account No. 142


May 31 Balance 2,950 Drjune 30 insurance expired-june GJ 590 2,360 dr

2,360 dr

Account: Prepaid Rent

Account: Prepaid Advertising

Account: Prepaid Insurance


General ledger

Account No. 150


May 31 Balance 9,000 Dr

9,000 dr

Account No. 151


may 31 balance 2,031 crjune 30 depriciation-one month GJ 156 2,187 cr

2,187 cr

Account No. 160


may 31 balance 43,000 43,000 dr

43,000 dr

Account: Cash Registers

Account: Accum Depn: Cash Registers

Account: Store Fixtures


General ledger

Account No. 161


may 31 balance 13,532 13,532 crjune 30 depriciation-one month GJ 366 13,898 cr

13,898 cr

Account No. 210


May 31 Balance 16,438 CrJune 18 Purchase Returns to abejundio coffee 1,403 15,035 CrJune 30 total from purchase journal PJ 515 15,550 CrJune 30 total from cash payment journal CPJ 15,395 155 Cr

unadjusted balance 155 cr

Account No. 220


may 31 balance 0june 30 wage expense GJ 1,320 1,320 cr

1,320 cr

Account: Accum Depn: Store Fixtures

Account: APC - Accounts Payable Control

Account: Wages Payable


General ledger

Account No. 221


may 31 balance 0june 30 electricity expense GJ 874 874 cr

874 cr

Account No. 222


may 31 balance 0june 30 water expense GJ 235 235 cr

235 cr

Account No. 225


may 31 balance 0june 30 interest expense GJ 275 275 cr

275 cr

Account: Electricity Payable

Account: Water Payable

Account: Interest Payable


General ledger

Account No. 250


may 31 balance 0june 1 loan payanle 55,000 55,000 Cr

55,000 cr

Account No. 300


may 31 balance 80,000 80,000 cr

80,000 cr

Account No. 301


may 31 balance 100,401 100,401 crjune 30 tranfer from profit and loss summary GJ 3,749 104,150 cr

june 30 post closing balance 104,150 cr

Account: Bank Loan Payable

Account: Share Capital

Account: Retained Earnings


General ledger

Account No. 310


may 31 balance 0

june 30 GJ 43,214 43,214 dr

june 30 GJ 48,174 3,947 cr

june 30 transfer to retained earning GJ 3,947 0

june 30 post closing balance 0

Account No. 400


May 31 Balance 0June 30 Total from Sales Journal SJ 4,449 4,449 crJune 30 Total from cash receipt Journal CRJ 41,921 46,370 crjune 30 closing entry GJ 46,370 0

june 30 post closing entry 0

Account No. 401


May 31 balance 0june 11 sales return from slozone GJ 1,198 1,198 drjune 30 closing entry GJ 1,198 0

une 30 post closing entry 0

Account: Profit and Loss Summary

closing entry to debit the profit and loss summary

closing entry to credit the profit and loss summary

Account: Sales Revenue

Account: Sales Returns and Allowances


General ledger

Account No. 402


May 31 balance 0june 30 total from cash payment journal CPJ 66 66 crjune 30 closing entry GJ 66 0


Account No. 403


may 31 balance 0june 30 interest received from bank CRJ 235 235 cr

accrued interest revenue GJ 100 335 crclosing entry GJ 335 0


Account No. 500


may 31 balance 0june 30 total from cash payment journal CPJ 515 515 cr

Account: Discount Received

Account: Interest Revenue

Account: Purchases


General ledger

Account No. 501


may 31 balance 0june 18 purchase returrn to abejundio coffee GJ 1,403 1,403 cr

1,403 cr

Account No. 511


may 31 balance 0june 30 benefit consumed GJ 3,000 3,000 drjune 30 closing entry GJ 3,000 0


Account No. 516


May 31 0June 15 paid wages CPJ 5,103 5,103 drJune 29 paid wages CPJ 5,582 10,685 drjune 30 accrued wages GJ 1,320 12,005 drjune 30 closing entry 12,005 0


Account: Purchase Returns and Allowances

Account: Advertising Expense

Account: Wages Expense


General ledger

Account No. 540


may 31 balance 0june 30 rent expired GJ 3,000 3,000 drjune 30 closing entry GJ 3,000 0


Account No. 541


may 31 balance 0june 30 accrued electricity expense GJ 874 874 drjune 30 closing entry GJ 874 0


Account No. 542


may 31 balance 0june 30 accrued water expense GJ 235 235 drjune 30 closing entry GJ 235 0


Account: Rent Expense

Account: Electricity Expense

Account: Water Expense


General ledger

Account No. 543


may 31 balance 0june 30 insurance expired GJ 590 590 drjune 30 closing entry GJ 590 0


Account No. 544


may 31 balance 0june 30 supplies used GJ 3,046 3,046 drjune 30 closing entry GJ 3,046 0


Account No. 545


May 31 0June 30 paid salary CPJ 5,200 5,200 drjune 30 closing entry GJ 5,200 0


Account: Insurance Expense

Account: Office Supplies Expense

Account: Salary Expense


General ledger

Account No. 560


may 31 balance 0june 30 depriciation-one month GJ 156 156 drjune 30 closing entry GJ 156 0


Account No. 561


may 31 balance 0june 30 depriciation-one month GJ 366 366 drjune 30 closing entry GJ 366 0


Account No. 571


may 31 balance 0june 30 accrued interest expenses GJ 275 275 drjune 30 closing entry GJ 275 0


Account: Depn Expense: Cash Registers

Account: Depn Expense: Store Fixtures

Account: Interest Expense


General ledger

Account No. 572


may 31 balance 0june 30 transaction fee CPJ 5 5 drjune 30 closing entry GJ 5 0


Account No. 573


may 31 balance 0june 30 total from cash receipt journal CRJ 284 284 drjune 30 closing entry GJ 284 0


Account: Bank Charges

Account: Discount Allowed


Bank reconciliation statement

Balance as per Bank Statement 103658 (Cr)Add:-deposit in transit 2,381deposit in transit 6,629Total 9,010

112668(Cr)

Less:-unrepresented cheque no. 908 3,632unrepresented cheque no. 911 5,200Total 8,832

Adjusted Bank Balance 103836(cr)

Balance as per Ledger Account 103836(dr)

MoondollarsBank Reconciliation Statement

As at 30 June 20XX


Moondollars - WorksheetAs at 30 June 20XX

Account NameAdjustments Income Statement Balance Sheet

Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit100 Cash at bank 103,836 103,836 103,836102 Short-term Investments 20,000 20,000 20,000110 ARC - Accounts Receivable Control 6,895 6,895 6,895112 Interest Receivable 100 100 100120 Inventory 73,322 60857 60,857130 Office Supplies 7,083 4,037 3,046 3,046140 Prepaid Rent 6,000 3,000 3,000 3,000141 Prepaid Advertising 9,000 3,000 6,000 6,000142 Prepaid Insurance 2,950 590 2,360 2,360150 Cash Registers 9,000 9,000 9,000151 Accum Depn: Cash Registers 2,031 156 2,187 2,187160 Store Fixtures 43,000 43,000 43,000161 Accum Depn: Store Fixtures 13,532 366 13,898 13,898210 APC - Accounts Payable Control 155 155 155220 Wages Payable 1,320 1,320 1,320221 Electricity Payable 874 874 874222 Water Payable 235 235 235225 Interest Payable 275 275 275250 Bank Loan Payable 55,000 55,000 55,000300 Share Capital 80,000 80,000 80,000301 Retained Earnings 100,401 100,401 100,401

Acct. No.

Unadjusted Trial Balance

Adjusted Trial Balance


Moondollars - WorksheetAs at 30 June 20XX

Account NameAdjustments Income Statement Balance Sheet

Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

Acct. No.

Unadjusted Trial Balance

Adjusted Trial Balance

400 Sales Revenue 46,370 46,370 46,370401 Sales Returns and Allowances 1,198 1,198 1,198402 Discount Received 66 66 66403 Interest Revenue 235 100 335 335500 Purchases501 Purchase Returns and Allowances 1,403 1,403 1,403511 Advertising Expense 3,000 3,000 3,000516 Wages Expense 12,005 12,005 12,005540 Rent Expense 3,000 3,000 3,000541 Electricity Expense 874 874 874542 Water Expense 235 235 235543 Insurance Expense 590 590 590544 Office Supplies Expense 3,046 3,046 3,046545 Salary Expense 5,200 5,200 5,200560 Depn Expense: Cash Registers 156 156 156561 Depn Expense: Store Fixtures 366 366 366571 Interest Expense 275 275 275572 Bank Charges 5 5 5573 Discount Allowed 284 284 284

Totals 12,962 12,962

Profit/loss 3,749 3,749Totals 48,174 48,174 258,095 258,094


Schedule of accounts receivable

Account No. Name

110-2 ARC - Con's Coffee 3,881110-5 ARC - Revamp Coffee Carts 2,060110-6 ARC - Jandesh's Hot Spot 954

Total 6,895

Schedule of accounts payable

Account No. Name Terms

210-1 APC - Brazil Imports Group 0210-2 APC - East Tangiers Co-op. 0210-3 APC - Abejundio Coffee 0210-4 APC - Buena Vista Coffee 155 2/10, n/30210-5 APC - Klam Wholesalers 0210-6 APC - Jordo Gourmet Coffee 0

Total 155

MoondollarsSchedule of Accounts Receivable

As at 30 June 20XX

Debit($)

Credit($)

MoondollarsSchedule of Accounts Payable

As at 30 June 20XX

Debit($)

Credit($)


Account No. Name

Cash at Bank 103,836Short-term Investments 20,000ARC - Accounts Receivable Control 6,895Interest Receivable 100Inventory 60,857Office Supplies 3,046GST OutlaysPrepaid Rent 3,000Prepaid Advertising 6,000Prepaid Insurance 2,360Cash Registers 9,000Accum Depn: Cash Registers 2,187Store Fixtures 43,000Accum Depn: Store Fixtures 13,898APC - Accounts Payable Control 155Wages Payable 1,320Electricity Payable 874Water Payable 235Interest Payable 275Bank Loan Payable 55,000Share Capital 80,000Retained Earnings 104,150

`

Total 258,094 258,094

Moondollars Post-closing trial balanceAs at 30 June 20XX

Debit($)

Credit($)


INCOME Revenue

sales revenue 46,370

Net sales revenueCOST OF SALES 12,980GROSS PROFIT 33,390OTHER INCOME

Interest revenue 335

TOTAL INCOME 33,725EXPENSES Selling and distribution expenses

Advertising expense 3,000

Total Selling and Distribution Expenses 3,000 Administrative expenses

Electricity 874Depiciation on cash register 156Depriciation on store fixture 366Insurance 590Rent 3,000Water expense 235Wage Expense 12,005Salaries 5,200Total Admistrative Expenses 22,426

Financial and other expensesInterest 275Bank charges 5

Total Financial expenses 280TOTAL EXPENSES 25,706

MoondollarsIncome Statement

For the month ended 30 June 20XX


PROFIT/(LOSS) BEFORE INCOME TAX 8,019


SHARE CAPITAL Opening balance 31 May 20XX 80,000 Issue of share capital Closing balance 30 June 20XX 80,000

RETAINED EARNINGS Opening balance 31 May 20XX 100,401 Profit/(loss) for the period 3,749 Dividend paid Closing balance 30 June 20XX 104,150

MoondollarsStatement of Changes in Equity

For the month ended 30 June 20XX


ASSETS Current Assets

Cash At Bank 103,836Short Term Investment 20,000ARC- Account Receviable Control 6,895Interest Receivable 100Inventory 60,857Office Supplies 3,046Prepaid Rent 3,000Prepaid Advertising 6,000Prepaid Insurance 2,360

TOTAL CURRENT ASSETS 206,094Non-current Assets

Cash Register 9,000Accum Depn : Cash Register -2,187Store Fixtures 43,000Accum Depn: Store Fixtures -13,898

TOTAL NON-CURRENT ASSETS 35,915TOTAL ASSETS 242,009

LIABILITIES Current Liabilities

APC - Accounts Payable Control 155Wages Payable 1,320Electricity Payable 874Water Payable 235Interest Payable 275

TOTAL CURRENT LIABILITIES 2,859 Non-current Liabilities

Bank Loan Payable 55,000

TOTAL NON-CURRENT LIABILITIES 55,000TOTAL LIABILITIES 57,859NET ASSETS 184,150EQUITY

Share Capital 80,000Retained Earnings 104,150

TOTAL EQUITY 184,150

MoondollarsBalance sheet

As at 30 June 20XX

337590_242118318_SpreadsheetPCA3 (3)

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