Bulmer Retailers Pty Ltd Trial Balance as at 30 June 2020 Account Name Debit ($) Credit ($) Accounts Receivable 20 450 Accounts Payable 10 300 Accumulated Depreciation - Office Equipment 7 000 Accumulated Depreciation – Delivery Vehicles 7 200 Accumulated Depreciation-Office Furniture and Fixtures 10 000 Advertising Expense 3 700 Allowance for Doubtful Debts 2 490 Bulmer, Capital (1 July 2019) 142 700 Bulmer, Drawings 25 400 Cash at Bank 64 500 Delivery Vehicles 24 000 Depreciation Expense – Delivery Vehicles 2 400 Depreciation Expense – Office Equipment 3 500 Depreciation Expense – Office Furniture and Fixtures 5 000 Discount Received 3 200 Discount Allowed 1 450 Doubtful Debts Expense 2 490 Freight Inwards 2 345 Inventory (1 July 2019) 18 600 Insurance Expense 1 380 Interest and Finance Expense 2 470 Loan (repayable 1 May 2026) 25 000 Office Administration Expense 28 300 Office Equipment 35 000 Office Furniture and Fixtures 44 000 Purchases 188 750 Rent Expense 36 000 Sales Revenue 428 695 Sales Returns 1 500 Selling and Distribution Expense 900 Supplies 3 450 Unearned Sale Revenue 4 400 Wages and Salaries Expense 129 400 Wages and Salaries Payable 4 000 Totals 644 985 644 985 Notes: The business has paid 70% of wages and salaries to ‘office administration staff’ and 30% to ‘selling and marketing staff’. Total rent expense may be allocated by the fact that ‘general administration staff’ occupied 80% of business premises. The ‘selling and marketing staff’ occupied 20% of the business premises. The stocktake performed at 30 June 2020 recorded an ending inventory balance of $25 600. Required Using the Trial Balance and templates provided on the following pages, prepare the following financial statements for the period in question: A fully classified Income Statement A separate Statement of Changes in Equity A fully classified Balance Sheet in the narrative format

Bulmer Retailers Pty Ltd Trial Balance as at 30 June 2020 Account Name Debit ($) Credit ($) Accounts Receivable 20 450 Accounts Payable 10 300 Accumulated Depreciation - Office Equipment 7 000 Accumulated Depreciation – Delivery Vehicles 7 200 Accumulated Depreciation-Office Furniture and Fixtures 10 000 Advertising Expense 3 700 Allowance for Doubtful Debts 2 490 Bulmer, Capital (1 July 2019) 142 700 Bulmer, Drawings 25 400 Cash at Bank 64 500 Delivery Vehicles 24 000 Depreciation Expense – Delivery Vehicles 2 400 Depreciation Expense – Office Equipment 3 500 Depreciation Expense – Office Furniture and Fixtures 5 000 Discount Received 3 200 Discount Allowed 1 450 Doubtful Debts Expense 2 490 Freight Inwards 2 345 Inventory (1 July 2019) 18 600 Insurance Expense 1 380 Interest and Finance Expense 2 470 Loan (repayable 1 May 2026) 25 000 Office Administration Expense 28 300 Office Equipment 35 000 Office Furniture and Fixtures 44 000 Purchases 188 750 Rent Expense 36 000 Sales Revenue 428 695 Sales Returns 1 500 Selling and Distribution Expense 900 Supplies 3 450 Unearned Sale Revenue 4 400 Wages and Salaries Expense 129 400 Wages and Salaries Payable 4 000 Totals 644 985 644 985 Notes: The business has paid 70% of wages and salaries to ‘office administration staff’ and 30% to ‘selling and marketing staff’. Total rent expense may be allocated by the fact that ‘general administration staff’ occupied 80% of business premises. The ‘selling and marketing staff’ occupied 20% of the business premises. The stocktake performed at 30 June 2020 recorded an ending inventory balance of $25 600. Required Using the Trial Balance and templates provided on the following pages, prepare the following financial statements for the period in question: A fully classified Income Statement A separate Statement of Changes in Equity A fully classified Balance Sheet in the narrative format

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 1AP

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Question

Bulmer Retailers Pty Ltd

Trial Balance

as at 30 June 2020

Account Name	Debit ($)	Credit ($)
Accounts Receivable	20 450
Accounts Payable		10 300
Accumulated Depreciation - Office Equipment		7 000
Accumulated Depreciation – Delivery Vehicles		7 200
Accumulated Depreciation-Office Furniture and Fixtures		10 000
Advertising Expense	3 700
Allowance for Doubtful Debts		2 490
Bulmer, Capital (1 July 2019)		142 700
Bulmer, Drawings	25 400
Cash at Bank	64 500
Delivery Vehicles	24 000
Depreciation Expense – Delivery Vehicles	2 400
Depreciation Expense – Office Equipment	3 500
Depreciation Expense – Office Furniture and Fixtures	5 000
Discount Received		3 200
Discount Allowed	1 450
Doubtful Debts Expense	2 490
Freight Inwards	2 345
Inventory (1 July 2019)	18 600
Insurance Expense	1 380
Interest and Finance Expense	2 470
Loan (repayable 1 May 2026)		25 000
Office Administration Expense	28 300
Office Equipment	35 000
Office Furniture and Fixtures	44 000
Purchases	188 750
Rent Expense	36 000
Sales Revenue		428 695
Sales Returns	1 500
Selling and Distribution Expense	900
Supplies	3 450
Unearned Sale Revenue		4 400
Wages and Salaries Expense	129 400
Wages and Salaries Payable		4 000
Totals	644 985	644 985

Notes:

The business has paid 70% of wages and salaries to ‘office administration staff’ and 30% to ‘selling and marketing staff’.
Total rent expense may be allocated by the fact that ‘general administration staff’ occupied 80% of business premises. The ‘selling and marketing staff’ occupied 20% of the business premises.
The stocktake performed at 30 June 2020 recorded an ending inventory balance of $25 600.

Required

Using the Trial Balance and templates provided on the following pages, prepare the following financial statements for the period in question:

A fully classified Income Statement
A separate Statement of Changes in Equity
A fully classified Balance Sheet in the narrative format

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