Exercise 7.
1 Cash journals - Stan’s Car Wash
Cash Receipts Journal
Date Details Rec. No. Bank Washing Detailing Sundries GST
fees fees
1/5/2 Car 1-16 660 600 60
025 washing
8/5/2 Car 17-25 770 700 70
025 detailing
9/5/2 Interest BS 75 75
025
12/5/ Car 26-33 550 500 50
2025 washing
15/5/ Car 34-36 715 650 65
2025 detailing
22/5/ Car 47-52 484 440 44
2025 washing
29/5/ Car 53-58 396 360 36
2025 detailing
TOTALS $ 3650 1540 1710 75 325
Cash Payments Journal
Date Details Doc. Bank Detergents Water rec. Sundries GST
& wax bill
2/5/2 Mortgage 603 1100 400
025
/ Water Bpay 724 385 350 700
5/202 recycling
5 bill
/ EFT 013 55 50 5
5/202
5
/ Detergent Bpay 813 264 240 24
5/202 and wax
5
/ Insurance EFT 027 33 30 3
5/202
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5
/ Detergent Bpay 293 440 400 40
5/202 and wax
5
/ Water EFT 312 132 120 12
5/202 recycling
5 bill
/ Repairs EFT 422 44 40 4
5/202 vac. Clean
5
/ Detergent
5/202 s and wax
5
/
5/202
5
/ Telephon Bpay 025 187 170 17
5/202 e
5
TOTALS $ 2915 120 1000 1630 165
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STAN’S CAR WASH
Statement of Receipts and Payments for May 2025
$ $
Cash Receipts
Washing fees 1540
Detailing fees 1710
Sundries 75
GST 325
Total 3650
Less Cash Payments
Detergent and wax 120
Water rec.bill 1000
Sundries 1630
GST 165
Total 2915
Cash Surplus (Deficit) 750
Add Bank Balance at start (1 May 2025) 750
Bank Balance at end (31 May 2025) 1500
Explanation
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Element Increase/Decrease/No Effect Amount $
Asset
Liability
Owner’s equity
STAN’S CAR WASH
Cash Flow Statement for May 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
Washing fees 1540
Interest 75
Detailing 1710
GST 325
Interest from SEC bonds 75
3650
Less cash outflows
Detergents and wax 120
GST 165
Interest on mortgage 700
Insurance 240
Water recycling bill 1000
Vaccum repair 120
GST paid 170 (2515)
Net Cash Flows from Operations 1135
CASH FLOWS FROM INVESTING ACTIVITIES
Cash inflows
Cash outflows
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Net Cash Flows from Operations
CASH FLOWS FROM FINANCING ACTIVITIES
Cash inflows
Less Cash Outflows
Mortgage principal 400 400
Net Cash Flows from Financing activities (400)
Net Increase (Decrease) in cash position 735
Add Bank Balance at start (1 May 2025) 750
Bank Balance at end (31 May 2025) 1485
© Simmons & Hardy 5 Cambridge University Press, 2019
Exercise 7.2 Cash journals - Vac and Sweep
Cash Receipts Journal
Date Details Rec. No. Bank House Office Sundries GST
cleaning cleaning
fees fees
Aug House 42 220 200 20
1st cleaning
5th House 43 220 200 20
cleaning
12th Office 44 231 210 21
cleaning
15th Home 45 297 270 27
cleaning
19th Office 46 495 450 45
cleaning
26th Home 47 275 250 25
cleaning
29th Home 48 407 370 37
cleaning
TOTALS $ 2145 1290 660 195
Cash Payments Journal
Date Details Doc. Bank Cleaning Advertising Sundries GST
supplies
Aug Rent Chq 221 4400 4000 400
2nd
6th Wages Chq 222 1500 1500
7th Cleaning EFT 083 385 150 35
supplies
13th Withdrawl ATM 765 400 400
16th Advertisin Chq 223 396 360 36
g
28th Cleaning EFT 145 308 280 28
supplies
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30th Advertisin Chq 224 660 600 60
g
TOTALS $ 8049 630 960 5900 559
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b
VAC AND SWEEP
Cash Flow Statement for August 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
House cleaning 1050
Office cleaning 660
GST received 195 2145
Rent (4000)
Wages (1500)
Advertising (960)
GST paid (559)
Cleaning supplies (630) (7649)
Net Cash Flows from Operations (5504)
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Withdrawl (400)
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Net Cash Flows from Financing activities (400)
Net Increase (Decrease) in cash position (5904)
Add Bank Balance at start (1 August 2025) 6000
Bank Balance at end (31 August 2025) 96
Qualitative characteristic
Explanation
Calculatio
n
GST payable $
VAC AND SWEEP
Balance Sheet (Extract) as at 31 August 2025
Current Asset
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Exercise 7.3 Cash journals - Minor Mechanics
Cash Receipts Journal
Date Details Rec. No. Bank Repair Tune-up Sundries GST
fees fees
TOTALS $
Cash Payments Journal
Date Details Doc. Bank Wages Drawings Sundries GST
TOTALS $
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b
Explanation
MINOR MECHANICS
Cash Flow Statement for July 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Flows from Operations
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
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Net Cash Flows from Financing activities
Net Increase (Decrease) in cash position
Add Bank Balance at start (1 July 2025)
Bank Balance at end (31 July 2025)
Action 1
Action 2
Calculatio
n
GST payable $
Explanation
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Exercise 7.4 Cash journals and source documents - Sweethearts
Photography
Explanation
Cash Receipts Journal
Date Details Rec. No. Bank Wedding Portrait Sundries GST
photo fees fees
TOTALS $
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Cash Payments Journal
Date Details Doc. Bank Photography Wages Sundries GST
materials
TOTALS $
Explanation
d
SWEETHEARTS PHOTOGRAPHY
Cash Flow Statement for April 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
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Net Cash Flows from Operations
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Net Cash Flows from Financing activities
Net Increase (Decrease) in cash position
Add Bank Balance at start (1 April 2025)
Bank Balance at end (30 April 2025)
Calculatio
n
GST payable $
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f
Calculatio
n
CFC times
Comment
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Exercise 7.5 Cash journals and source documents - Polling Times
Explanation
Explanation
Accounting assumption
Explanation
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d
Cash Receipts Journal
Date Details Rec. No. Bank Research Consulting Sundries GST
fees fees
TOTALS $
Cash Payments Journal
Date Details Doc. Bank Travel Drawings Wages Sundries GST
expenses
TOTALS $
© Simmons & Hardy 19 Cambridge University Press, 2019
e
POLLING TIMES
Cash Flow Statement for July 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
GST refund 720
Research fees 3900
Consulting fees 9100
GST received 1300 13370
Wages (3000)
Expenses (2100)
Rent (1200)
Electricity bill (650)
GST paid (425)
Advertising (300) (7645)
Net Cash Flows from Operations 7345
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Captial contribution 4000
Drawings 2300 (1700)
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Net Cash Flows from Financing activities 1700
Net Increase (Decrease) in cash position 9045
Add Bank Balance at start (1 July 2025) (1000)
Bank Balance at end (31 July 2025) 8045
Calculatio
n
CFC times
Comment
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Exercise 7.6 Cash journals and source documents - Wooden It Be Good
Cash Receipts Journal
Date Details Rec. No. Bank Restoration fees Sundries GST
TOTALS $
Cash Payments Journal
Date Details Doc. Bank Drawings Restoration Sundries GST
supplies
TOTALS $
Explanation
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c
WOODEN IT BE GOOD
Cash Flow Statement for June 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
GST refund 226
Restoration 2260
Interest received 15 2271
Restoration supplies (800)
Loan principle payment (200)
GST Paid (140) (900)
Net Cash Flows from Operations 1331
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Capital contribution 1500 1500
Drawings (1150)
Loan 200 1350
Net Cash Flows from Financing activities 150
Net Increase (Decrease) in cash position 946
Add Bank Balance at start (1 June 2025) 3500
Bank Balance at end (30 June 2025) 4446
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d
Explanation
Explanation
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Exercise 7.7 Cash journals and source documents - Daring Designs
Qualitative characteristic 1
Qualitative characteristic 2
Explanation
Party
Reason
Element Overstated/Understated/No Effect Amount $
Asset
Liability
Owner’s equity
Weakness
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f
Cash Receipts Journal
Date Details Rec. No. Bank Consulting Design Sundries GST
fees fees
TOTALS $
Cash Payments Journal
Date Details Doc. Bank Drawings Wages Advertising Sundries GST
TOTALS $
© Simmons & Hardy 27 Cambridge University Press, 2019
g
DARING DESIGNS
Cash Flow Statement for May 2025
$ $
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Flows from Operations
CASH FLOWS FROM INVESTING ACTIVITIES
Net Cash Flows from Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
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Net Cash Flows from Financing activities
Net Increase (Decrease) in cash position
Add Bank Balance at start (1 May 2025)
Bank Balance at end (31 May 2025)
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h
Calculatio
n
GST payable $
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