| University | Open Polytechnic (OP) |
| Subject | ACCY5102 Applied Accounting |
ACCY5102 Assessment 1
Learning Outcomes
L/O 1: Process transactions to the trial balance stage for an organisation
Contribution to your final grade: 20%
Instruction
Presentation:
1. You must present your work as a professionally formatted submission. This assumes that grammar, sentence construction and spelling are all checked and the report is written to a standard expected of a first-year university student.
2. Your report must be:
a. word processed
b. printed and formatted correctly for A4 size paper
c. identified as your work with your student identification number appearing on every page as a footer
d. 1.5 line spaced
e. use a standard 11 or 12pt font such as Arial, Calibri or Verdana
f. correctly referenced using APA 7th addition style referencing
g. submitted through the Turnitin process. Submitted as ONE submission. By submitting through Turnitin, you have confirmed that this is your own, original work
h. submitted on or before the due date
3. The Student Charter outlines your rights and responsibilities as ākonga. It includes the following clauses:
- Not claim the work of another person or generative artificial intelligence as their own work.
- Not copy or paraphrase another person’s work or use generative artificial intelligence, whether published or unpublished without clearly acknowledging it. Paraphrasing without appropriate acknowledgement (Referencing) will be deemed to be plagiarism.
By submitting your assessment, you confirm that it is your own, original work.
Content:
| Question | Learning Outcomes
L/O 1: Process transactions to the trial balance stage for an organisation |
Marks
100 |
Proportion of Final
Marks 20% |
| Task 1 (1) | Record Accounting transactions | 30 | 6% |
| Task 1 (2) | Process General Ledgers | 30 | 6% |
| Task 1 (3) | Prepare a Trial Balance | 5 | 1% |
| Task 1 (4) | Prepare Subsidiary Ledgers | 20 | 4% |
| Additional Marks | Treatment of GST | 10 | 2% |
| Additional Marks | Accuracy and Consistency | 5 | 1% |
Scenario
As a new staff member at Ace Accountants Ltd, you have been asked to process the transactions for Sparkle Cleaners, a new client who set up business three months ago. You receive the following instructions.
We have a new client who has provided information about their transactions as a commercial cleaning service. I need you to produce some information prior to a meeting with them.
Please process the transactions for Jamie McIvor. These will help me produce a set of financial statements and give advice on how the business is performing.
The information the client provided is below.
Please use the attached Excel Workbook, which I have set up for the task.
Background
Jamie McIvor is a self-employed cleaner, trading as Sparkle Cleaners. He has been selfemployed since April 2025. Jamie uses the periodic inventory system. All purchases of cleaning supplies are coded to 5200 Purchases.
Jamie is registered for GST. All figures are GST-inclusive where applicable. You can assume that valid GST taxable supply information is held for all qualifying transactions.
Jamie employs two part-time employees.
Following are Jamie’s trial balance as at May 2025 and details of his June 2025 transactions:
Jamie McIvor trading as Sparkle Cleaners Trial Balance as at 31 May 2025
| Account code Account name | Dr $ | Cr $ | |||
| 1100 Kiwibank | 26,700 | ||||
| 1200 Accounts receivable | 24,955 | ||||
| 1300 Inventory | 2,750 | ||||
| 1500 Equipment at cost | 95,000 | ||||
| 1510 Equipment accum. deprec. | 35,000 | ||||
| 1700 Vehicles at cost | 66,000 | ||||
| 1710 Vehicles accum. deprec. | 16,000 | ||||
| 2200 Accounts payable | 17,020 | ||||
| 2300 GST | 4,710 | ||||
| 2400 PAYE payable | 4,270 | ||||
| 2800 Kiwibank loan | 75,000 | ||||
| 3100 Capital | 100,000 | ||||
| 3200 Drawings | 60,000 | ||||
| 4100 Contracting income | 348,000 | ||||
| 5200 Purchases | 56,400 | ||||
| 6010 Accounting | 4,200 | ||||
| 6020 Advertising | 4,900 | ||||
| 6030 Bank fees | 460 | ||||
| 6040 EFTPOS expenses | 1,450 | ||||
| 6070 Entertainment | 690 | ||||
| 6080 General expenses | 12,450 | ||||
| 6090 Insurance and ACC | 15,900 | ||||
| 6100 Interest – bank loan | 2,700 | ||||
| 6110 Motor vehicle expenses | 12,300 | ||||
| 6120 Office expenses | 8,700 | ||||
| 6130 Protective clothing | 8,900 | ||||
| 6150 Repairs and maintenance | 14,770 | ||||
| 6160 Subscriptions | 435 | ||||
| 6170 Telephone and internet | 2,140 | ||||
| 6180 Wages and salaries | 178,200 | ||||
| $ 600,000 | $ 600,000 | ||||
The details of the accounts receivable as at 31 May 2025 were:
| Accounts receivable | Dr
$ 920 1,380 16,100 4,600 805 1,150 $24,955 |
|
|
Total |
D Farmer Central Council JD Law Mid City Motel Ltd R Smithers Townsend Development Ltd
|
|
The details of the accounts payable as at 31 May 2025 were:
| Accounts payable | Cr |
| $ | |
| ASB Insurance | 3,450 |
| Ecoshop Ltd | 4,600 |
| EFTPOS Systems Ltd | 230 |
| Mitre10 Ltd | 2,300 |
| NZ Cleaning Supplies Ltd | 5,750 |
| The Warehouse | 690 |
Total 17,020
Transactions during June 2025 were as follows:
| Date | Details |
| 4 June | Invoiced JD Law $1,610 for cleaning work completed. Invoice 952. |
| 5 June | Received an invoice from ASB Insurance for $1,150 for business insurance for June. |
| 5 June | A customer paid $460 by EFTPOS for a garage cleaning job. Invoice 953. |
| 5 June | Purchased $138 fuel for work ute from BP. Paid by EFTPOS |
| 7 June | A customer paid $575 by EFTPOS for a cleaning job. Invoice 954. |
| 7 June | Paid The Warehouse $690 for their May account using online banking. |
| 7 June | Received $805 from R Smithers for their May account. |
| 8 June | Received $1,380 from Central Council for their May account. |
| 8 June | Purchased fuel at BP for work ute, paid $115 by EFTPOS. |
| 8 June | Invoiced Central Council $5,750 for cleaning work. Invoice 955. |
| 9 June
|
Completed a deluxe clean for D Bowie for $3,450. Customer paid by EFTPOS. Invoice 956. |
| 9 June | Customer paid $115 monthly fee for June cleaning work by internet transfer. Record as a cash sale. |
| 9 June | Paid $345 for purchases from Stationery Warehouse: $115 for office stationery (code to office expenses) and $230 for tea bags, biscuits and cleaning supplies (code to general expenses) |
| 10 June | Purchased latex gloves, safety glasses and face masks for staff safety. Paid Safety Ltd $690 using debit card for online purchase. |
| 11 June | Invoiced R Smithers $805 for cleaning his Airbnb. Invoice 957. |
| 11 June | Invoiced a cash customer $1,610 for clearing their rental property. Invoice 958. Customer paid by internet banking. |
| 12 June | Purchased a wet and dry commercial vacuum cleaner for $5,750 from Housemaid Supplies Ltd. The $5,750 is to be paid off over five months at $1,150 per month as an interest-free hire purchase.
Assets purchases under $1,000 are coded to general expenses. Assets over $1,000 are coded to equipment. |
| 12 June | Purchased equipment from Mitre10 Ltd for $920. Made payment by internet transfer.
Assets purchases under $1,000 are coded to general expenses. Assets over $1,000 are coded to equipment. |
| 15 June | Invoiced a cash customer $920 for cleaning work. Invoice no. 959. The customer paid by internet transfer. |
| 15 June | Purchased bulk cleaning liquids for $1,380 from Ecoshop Ltd. Payment is due 22 Jul. Code to purchases. |
| 16 June | Made bank loan payment of $750. Payment consisted of $440 interest and $310 loan principal. |
| 17 June | Received $16,100 from JD Law for their May account. |
| 17 June | Paid first hire purchase payment of $1,150 |
| 18 June | Paid NZ Cleaning Supplies Ltd $3,500 for part payment of their May account. |
| 18 June | Paid Ecoshop $4,600 for their May account. |
| 18 June | Purchased new vacuum cleaner for a total of $1,610 from The Warehouse. Payment is due June 23.
Assets purchases under $1,000 are coded to general expenses. Assets over $1,000 are coded to equipment. |
| 19 June | Received an invoice for $2,300 from Meta for advertising on Facebook. Due date is 7
Jul. |
| 19 June | Paid ASB Insurance for May account. $3,450 by online banking. |
| 20 June | Paid May PAYE Payable of $4,270 by internet transfer. |
| 21 June | Purchased fuel from BP, $138. Paid by EFTPOS. |
| 23 June | Purchased cleaning supplies from NZ Cleaning Supplies Ltd for $3,450. Due date is July 14. |
| 23 June | Invoiced a customer $4,600 for deep cleaning. Invoice 960. Customer paid by internet transfer. |
| 23 June | Jamie took $4,600 cash drawings by internet transfer. |
| 24 June | Paid wages of $15,600 consisting of PAYE of $3,450 and internet payment to staff of $12,150. The PAYE portion is payable 20 July. |
| 24 June | Invoiced a cash customer $575 for cleaning work. The money was banked the same day. Invoice no. 961. |
| 25 June | Received $3,600 from Central Council in part payment of invoice no. 955. |
| 26 June | Received payment from Townsend Developments for $575 towards their May balance. |
| 27 June | Invoiced Mid City Motel Ltd $2,300 for work completed. Invoice 962. |
| 28 June | Paid Bank fees of $69. |
| 28 June | Paid 2degrees $92 for telephone plan. |
| 30 June | Stocktake showed inventory on hand was $1,900. |
Task
1. Use the template provided to complete the following: (Template must be used, do not create your own template)
- Record the June 2025 transactions in the specialised journals and the general journal.
- Complete reference columns where appropriate.
Some accounts that aren’t in the opening trial balance are provided for in the general ledger.
- Total the specialised journals.
- Include narrations for general journal entries.
(30 marks)
2. Using the general ledger on the second tab of the template provided, record the opening balances as at 1 June 2025, and then post the journals from Task 1. to the ledger accounts.
(30 marks)
3. From the closing balances in the general ledger, prepare a trial balance as at 30 June 2025.
(5 marks)
4. Record the opening balances in the accounts receivable subsidiary ledger and the accounts payable subsidiary ledger and then post the journals to the ledgers.
Prepare a reconciliation of accounts receivable and accounts payable as at 30 June 2025.
(20 marks)
Additional marks
Correct treatment of GST. (10 marks)
Overall accuracy and consistency with figures. (5 marks)
(Assessment total: 100 marks)
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