Trust Accounting and Property Management Assignment

PART C

Cash Book – Property Management

From the information below for Town Hall Real Estate complete the following:

• Chart of Accounts – First Number 200 increasing by multiplies of
• Trust Cash Book Receipts
• Trust Cash Book Payments
• Property Management fee calculation
• Payment to Landlord calculation
• Trust Ledger Accounts
• Trial Balance as at 31st October 202X

Students to note the following:

• The first receipt number is
• The first cheque number is
• The agency pays most of their transactions through either Bpay or Direct
• All Trust Receipts are banked on day of
• All receipts and payments are by cheques unless otherwise

Transactions of the month of October 202X

2nd Mitchell Cox paid two weeks rent by direct deposit totalling $3,750 for a property located at 25/78 Kent Street, Sydney. owned by Tammy Baker.

3rd Paid Australian Chinese Daily $600 to advertise Barney Rubbles property for lease.

4th Paid Visacard $5,560 by direct transfer (Ref No 654887).

5th Martin Bella was the successful applicant to secure the rental at 89/21 Lime Street, Barangaroo he paid two weeks rent totalling $5,000 by direct deposit and four weeks bond which he paid directly to the Rental Bond Board, the property is owned by Anna Nguyen.

6th Paid Water Rates by Bpay (Ref No 737777) of $275 to Sydney Water for the property owned by Theresa Green.

7th Paid Domain $2,500 by Bpay (Ref No 330380) to advertise Barney Rubble’s property for lease.

8th Ruby Gold paid two weeks rent of $3,500 by direct deposit for property located at 55/25 Pitt Street, Sydney

9th A tenant has been found for Barney Rubbles property, balance of advertising money to be refunded today.

10th Paid staff bonusses for the month of September 202X.

11th Nancy Brogan is the new tenant for Barney Rubbles property, she paid $11,100 in cash representing two weeks rent and four weeks bond.

12th Simon Kay paid two weeks rent of $1,650 on a property owned by Greg Griffiths.

13th Paid Cumberland Newspapers $2,100 by cheque for advertising.

14th Secured a New Tenant for the property located at 44 Market Street, Waterloo. The new tenant Roger Rogerson paid a cheque totalling $4,000 being for two weeks rent. The four weeks bond was sent directly to the RBB by the new tenant as a Bpay transfer. The owner of the property is David Hooks.

15th Mitchell Cox paid three weeks rent by Direct Deposit.

16th Cheque Received by Roger Rogerson on the 14th October 202X was dishonoured. The tenant and landlord were informed.

17th Paid to AAMI Insurance by Bpay (Ref No 999666) $1,150 being for the house and contents insurance on 99 Albert St, Redfern.

18th Paid TPG $985 by Bpay (Ref No 333456) for internet services. 18th Roger Rogerson paid cash for his replacement cheque.

19th Paid the strata levies to City Strata by Bpay (Ref No 756978) $1,253 for Anna Nguyen’s property.

20th Martin Bella paid two weeks rent by direct deposit.

21st Transferred $20,000 from Agencies Business Account to Licensee-in- Charge’s personal account.

22nd Paid Council Rates of $668 by Bpay (Ref No 236459) to Sydney City Council on Tammy Baker’s property.

23rd Simon Kay paid two weeks rent by direct deposit.

24th Settled the Property Management Accounts, the Property Management Fee is 7.7% (Including GST) Plus an $11 (Including GST) Monthly Admin fee.

25th Ruby Gold paid two weeks rent.

26th Nancy Brogan paid two weeks rent by direct deposi