Further information Page 1 of 3

Technology Boutique Practice Set

Being completed by: himanshu83

Further information

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Further information

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Hi-Fi Way
Post-closing trial-balance
As at 30/05/2011

Account
Name Debit Credit
No.

100 Cash at bank 68,141

110 ARC - Accounts Receivable Control 70,567
111 Allowance for Doubtful Debts 10,000
112 Interest Receivable 284
120 Inventory 311,150
130 Office Supplies 3,608
135 GST Outlays 15,006
140 Prepaid Rent 1,600
141 Prepaid Advertising 12,000
142 Prepaid Insurance 3,350
150 Cash Registers 8,000
151 Accum Depn: Cash Registers 2,000
160 Store Fixtures 39,000
161 Accum Depn: Store Fixtures 24,036
210 APC - Accounts Payable Control 64,214
220 Wages Payable 6,603
221 Electricity Payable 842

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Further information Page 2 of 3

222 Water Payable 116

225 Interest Payable 226
240 GST Collections 14,488
250 Bank Loan Payable 45,102
300 Roderigo Bethe, Capital 365,079
302 Roderigo Bethe, Drawings
310 Profit and Loss Summary
400 Sales Revenue
401 Sales Returns and Allowances
402 Discount Received
403 Interest Revenue
500 Cost of Sales
511 Advertising Expense
516 Wages Expense
540 Rent Expense
541 Electricity Expense
542 Water Expense
543 Insurance Expense
544 Office Supplies Expense
545 Salary Expense
560 Depn Expense: Store Fixtures
561 Depn Expense: Cash Registers
571 Interest Expense
572 Bank Charges
573 Discount Allowed
574 Bad Debts Expense
Total 532,706 532,706

Hi-Fi Way
Schedule of Accounts Receivable
As at 30/05/2011

Account
Name Debit Credit
No.

110-1 ARC - Radio Hut 8,000

110-2 ARC - Hypertronics 8,365
110-3 ARC - Turbo Tech 48,437
110-4 ARC - Jerry Technology 5,765
110-5 ARC - Handys Electronics
110-6 ARC - Pikea
Total 70,567

Please note: Hi-Fi Way does not generally give a discount for early payment except in exceptional circumstances. All debtors are
on net 30 credit terms.

Hi-Fi Way
Schedule of Accounts Payable
As at 30/05/2011

Account
Name Debit Credit Terms
No.

210-1 APC - Mega Tech 7,174 2/10, n/30

210-2 APC - Pony 6,000 1/15, n/30
210-3 APC - Pear Technology 42,040 net 30
210-4 APC - Big Telco 9,000 2/10, n/30
210-5 APC - JCN Electrical net 30
210-6 APC - Moon Megasystems net 30
Total 64,214

INVENTORY CARDS

Zii Game Consoles

Purchases Cost of Sales Balance

Date
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost

May 1 21 1760 36960

May 2 18 2020 36360 21 1760 36960

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18 2020 36360

May 24 10 1760 17600 11 1760 19360

18 2020 36360

May 31 5 1760 8800 6 1760 10560

18 2020 36360

Tony ZIO MLP Projectors

Purchases Cost of Sales Balance

Date
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost

May 1 29 970 28130

28 1070 29960

May 12 4 970 3880 25 970 24250

28 1070 29960

May 23 7 970 6790 18 970 17460

28 1070 29960

May 31 15 1070 16050 18 970 17460

43 1070 46010

MePod Multimedia Players

Purchases Cost of Sales Balance

Date
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost

May 1 21 1010 21210

21 1160 24360

May 5 24 1160 27840 21 1010 21210

45 1160 52200

May 27 21 1010 21210 38 1160 44080

7 1160 8120

May 31 17 1160 19720 55 1160 63800

BG90 Plasma Televisions

Purchases Cost of Sales Balance

Date
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost

May 1 27 2000 54000

May 13 13 2000 26000 14 2000 28000

May 23 6 2000 12000 8 2000 16000

May 31 16 2100 33600 8 2000 16000

16 2100 33600

MX620 Notebook Computers

Purchases Cost of Sales Balance

Date
Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost

May 1 22 1890 41580

24 2080 49920

May 7 22 1890 41580 21 2080 43680

3 2080 6240

May 18 21 2080 43680 42 2080 87360

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