You are the accountant for a small business that sells toys to customers. Your job is to record all financial transactions accurately and maintain the financial records for the business. Use the following data to complete the practice exercises.
Data:
- Supplier Bills with GST Tax:
- Bill #001:
- 5 units of Teddy Bear @ Rs. 1,000 per unit
- 5 units of Doll @ Rs. 500 per unit
- 18% GST
- Bill #002:
- 5 units of Remote Control Car @ Rs. 800 per unit
- 5 units of Puzzle @ Rs. 200 per unit
- 12% GST
- Bill #003:
- 5 units of Board Game @ Rs. 500 per unit
- 5 units of Building Blocks @ Rs. 300 per unit
- 28% GST
- Bill #004:
- 5 units of Teddy Bear @ Rs. 1,200 per unit
- 5 units of Doll @ Rs. 600 per unit
- 18% GST
- Bill #005:
- 5 units of Remote Control Car @ Rs. 1,000 per unit
- 5 units of Puzzle @ Rs. 250 per unit
- 12% GST
- Bill #001:
- Buyers Bills with GST Tax:
- Bill #101:
- 5 units of Teddy Bear @ Rs. 1,200 per unit
- 5 units of Doll @ Rs. 600 per unit
- 18% GST
- Bill #102:
- 5 units of Remote Control Car @ Rs. 1,000 per unit
- 5 units of Puzzle @ Rs. 250 per unit
- 12% GST
- Bill #103:
- 5 units of Board Game @ Rs. 700 per unit
- 5 units of Building Blocks @ Rs. 400 per unit
- 28% GST
- Bill #104:
- 5 units of Teddy Bear @ Rs. 1,000 per unit
- 5 units of Doll @ Rs. 500 per unit
- 18% GST
- Bill #105:
- 5 units of Remote Control Car @ Rs. 800 per unit
- 5 units of Puzzle @ Rs. 200 per unit
- 12% GST
- Bill #101:
- Cash Expenses:
- Rent: Rs. 10,000
- Office Supplies: Rs. 2,000
- Electricity Bill: Rs. 3,000
- Telephone Bill: Rs. 1,000
- Internet Bill: Rs. 1,500
- Cheque Receipts:
- Payment #001: Rs. 15,000 for 5 units of Teddy Bear
- Payment #002: Rs. 7,500 for 5 units of Remote Control Car
- Payment #003: Rs. 7,500 for 5 units of Board Game
- Payment #004: Rs. 10,000 for 5 units of Teddy Bear
- Payment #005: Rs. 5,000 for 5 units of Puzzle
- Supplier Bills with GST Tax:
- Bill #001 (01-Jan-2023):
- 4 units of Teddy Bear @ Rs. 1,000 per unit
- 7 units of Doll @ Rs. 500 per unit
- 3 units of Remote Control Car @ Rs. 800 per unit
- 2 units of Puzzle @ Rs. 200 per unit
- 4 units of Board Game @ Rs. 500 per unit
- 18% GST (on all items)
- Bill #002 (05-Jan-2023):
- 5 units of Teddy Bear @ Rs. 1,200 per unit
- 2 units of Doll @ Rs. 600 per unit
- 6 units of Remote Control Car @ Rs. 1,000 per unit
- 8 units of Puzzle @ Rs. 250 per unit
- 2 units of Board Game @ Rs. 600 per unit
- 12% GST (on Teddy Bear, Remote Control Car, and Board Game)
- 18% GST (on Doll and Puzzle)
- Bill #003 (10-Jan-2023):
- 3 units of Teddy Bear @ Rs. 1,000 per unit
- 9 units of Doll @ Rs. 500 per unit
- 5 units of Board Game @ Rs. 500 per unit
- 1 unit of Building Blocks @ Rs. 300 per unit
- 18% GST (on Teddy Bear, Doll, and Board Game)
- 28% GST (on Building Blocks)
- Bill #004 (15-Jan-2023):
- 6 units of Teddy Bear @ Rs. 1,200 per unit
- 4 units of Doll @ Rs. 600 per unit
- 3 units of Remote Control Car @ Rs. 1,000 per unit
- 5 units of Puzzle @ Rs. 250 per unit
- 1 unit of Building Blocks @ Rs. 400 per unit
- 12% GST (on Puzzle and Building Blocks)
- 18% GST (on Teddy Bear, Doll, and Remote Control Car)
- Bill #005 (20-Jan-2023):
- 7 units of Teddy Bear @ Rs. 1,000 per unit
- 2 units of Doll @ Rs. 500 per unit
- 4 units of Remote Control Car @ Rs. 800 per unit
- 5 units of Puzzle @ Rs. 200 per unit
- 3 units of Board Game @ Rs. 700 per unit
- 12% GST (on Puzzle and Board Game)
- 18% GST (on Teddy Bear, Doll, and Remote Control Car)
- Bill #001 (01-Jan-2023):
- Buyers Bills with GST Tax:
- Bill #101 (02-Jan-2023):
- 5 units of Teddy Bear @ Rs. 1,200 per unit
- 2 units of Doll @ Rs. 600 per unit
- 6 units of Remote Control Car @ Rs. 1,000 per unit
- 8 units of Puzzle @ Rs. 250 per unit
- Bill #101 (02-Jan-2023):