ABC Supermarket Accounting Data

ABC Supermarket
ABC supermarket is a private limited Company which concentrates on selling merchandise form
groceries, utensils and cutlery, as well as electronic appliances. This paper concentrates on
providing accounting information from ledgers, capital accounts sales invoice to trial balances.
Asset Accounts
No. Account Title To Increase
101 Cash Debit
110 Merchandise Inventory Debit
120 Accounts Receivable Debit
135 Insurance (Prepaid) Debit
140 Supplies Debit
145 Land Debit
155 Buildings Debit
160 Equipment Debit
173 Acc. Depreciation (equipment) Credit
Liability Accounts
201 Wages payable Credit
210 Accounts Payable Credit
213 Notes Payable Credit
222 Interest Payable Credit
230 Mortgage loan Payable Credit
Owner’s Equity Accounts

240 Drawings (Levi Ackerman) Debit
245 Capital (Levi Ackerman) Credit
Operating Revenue Accounts

251 Service Revenues Credit
Operating Expense Accounts

400 Wages Expense Debit
420 Salaries Expense debit
423 Suppliers Expense Debit
430 Utilities Expense Debit
440 Rent expense Debit
448 Advertising expense Debit
450 Telephone Expense Debit
Journal Transactions
Transaction of ABC supermarket for the Month of January 2020
No. Date Particulars
1 1-Jan Started Business with $200,000 in Cash
2 1-Jan Opened a Bank Acocunt and made a deposit of $195,000
3 2-Jan Bought a vehicle for $ 50,000 and paid in Cash
4 3-Jan Bought Furniture and paid $15,000 through Cheque
5 5-Jan Purchased goods worth $50,000 from Mr B. on Credit
6 6-Jan Sold Goods for $60,000 on Cash
7 8-Jan Bought Goods worth $20,000 on Cash
8 10-Jan Returned goods woth $10,000 To Mr B.
9 12-Jan Sold Goods for $40,000 on Credit to Mr A.
10 18-Jan Mr A. then returned Goods of worth $5,000
11 21-Jan Then Paid Via Cheque to Mr B. $25,000
12 22-Jan Offered Shiipng Sevices to Dollar Gorup Inc. $3,000
13 23-Jan Mr Ervin Invested $5,000 In the Business in Cash
14 24-Jan Company Owner withdrew $7000 for emergency
15 28-Jan ABC paid rent for January worth $1500 cash
16 30-Jan Mr A then Paid via cheque $20,000
17 31-Jan Then Paid Salaries via cheque worth $5,000
18 31-Jan the month of January Accrued Expenses are $20,000
19 31-Jan Then Deposited $10,000 to the Bank
ABC Supermarket Sales Invoice
Receipt No: #INV00001
Payment Date: 31/1/20
DESCRIPTION QTY UNIT PRICE ($) TOTAL
Books 120 13.00 1560.00
calculators 40 200.00 8000.00
Cutlerly Pack 20 100.00 2000.00
Television Sets 20 500.00 10000.00
Furniture 10 280.00 2800.00
Laptops 8 1500.00 12000.00
Binoculars 5 400.00 2000.00
Flour 300 8.00 2400.00
Noodle pack 200 6.00 1200.00
Jewelry 100 200.00 20000.00
0.00
SUBTOTAL 61960.00
DISCOUNT 0.00
SUBTOTAL LESS
DISCOUNT
61960.00
TAX RATE 3.00%
TOTAL TAX 1858.80
SHIPPING/HANDLING 0.00
$
Balance Paid 60,102
-
Journal Accounts
Date
2020 Particulars Debit Credit
Jan 1 Cash 203,000
Capital 203,000
Date
2020 Particulars Debit Credit
Jan 1 Bank 195,000
Cash 195,000
Date
2020 2 Particulars Debit Credit
Bank 50,000
vehicle 50000
Date
Furniture 15,000
Bank 15,000
Date
Purchases 50,000
Creditor 50,000
Date
Sales 40,000
Cash 40,000
Date
Purchases 20,000
Cash 20,000
Date
MR B. Creditor 10,000
purchases 10,000
Date
sales 40,000
Debtor (Mr A) 40,000
Date
Sales 5,000
Debtor 5,000
Date
Creditor 25,000
Bank 25,000
Date
Acounts Receivable 3,000
Service Revenue 3,000
Date
Cash 3,000
Ervin Capital Investment 3,000
Date
Drawings 17,000
Cash 17,000
Date
Rent Expense 2,000
Cash 2,000
Date
Bank 20,000
Debtor 20,000
Date
Salaries 5,000
Bank 5,000
Date
Expenses 20000
Expenses Payable 20,000
Date
Bank 50,000
Cash 10,000
Ledger Accounts
Capital Account
Date Particulars Amount Date Particulars Amount
1-Jan To Balance c/d 203,000 1-Jan By Cash 200,000
23-Jan By Cash 3,000
Furniture
Account
3-Jan To Bank A/c 15,000 3-Jan By Balance c/d 15,000
Purchase Account
5-Jan To Creditors A/c 50,000
To Cash A/c 20,000 By Balance c/d 70,000
Sales Account
18-Jan To Debtors 5,000 6-Jan By Cash 40,000
To Balance c/d 75,000 By Debtors 40,000
31-Jan Salary Account

To Bank 5,000 31-Jan By Balance c/d 5,000
Vehicle Account
2-Jan To Bank 50,000 By Balance c/d 50,000
Creditor Account
21-Jan to Bank 25,000 5-Jan By Purchases 50,000
To Balance b/d 25,000
Drawings
Accounts
24-Jan To Cash b/d 17,000 By Balance c/d 17,000
Cash
Accoun
t
1-Jan To Balance b/d 1-Jan By Bank A/c 195,000
1-Jan To Capital A/c 200,000 8-Jan By Purchases A/c 20,000
6-Jan To Sales 40,000 24-Jan By Drawings A/c 17,000
23-Jan To Capital A/c 3000 28-Jan By Rent A/c 2,000
31-Jan By Bank A/c 10,000
243,000 243,000
Post-Closing Trial Balance
ABC Supermarket Post Closing Trial Balance
31 st Jan 2020
Debit Credit
Cash $243,000
Vehicle $50,000
Rent Payable $1500
Service Equipment $3,000
Salaries Payable $5,000
Income Tax Payable $1,800
Share Capital $203,000
Accrued Expenses $20,000
Accounts Payable $50,000
Retained Earnings $19,500
$297,500 $297,000

ABC Supermarket Accounting Data

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ABC Supermarket Accounting Data

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ABC Supermarket

Owner’s Equity Accounts

Operating Revenue Accounts

Operating Expense Accounts

Receipt No: #INV00001

Payment Date: 31/1/20

DESCRIPTION QTY UNIT PRICE ($) TOTAL

Books 120 13.00 1560.00

calculators 40 200.00 8000.00

Cutlerly Pack 20 100.00 2000.00

Television Sets 20 500.00 10000.00

Furniture 10 280.00 2800.00

Laptops 8 1500.00 12000.00

Binoculars 5 400.00 2000.00

Flour 300 8.00 2400.00

Noodle pack 200 6.00 1200.00

Jewelry 100 200.00 20000.00

TAX RATE 3.00%

TOTAL TAX 1858.80

31-Jan Salary Account

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