|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Score:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trial Balance (TB)
|
DR
|
CR
|
|
|
|
|
|
|
|
Sales
|
|
£460,000
|
|
|
|
|
|
|
|
Returns In
|
£3,400
|
|
|
|
|
|
|
|
|
Opening Inventory
|
£43,000
|
|
|
|
|
|
|
|
|
Purchases
|
£134,000
|
|
|
|
|
|
|
|
|
Returns Out
|
|
£6,500
|
|
|
|
|
|
|
|
Carriage In
|
£2,300
|
|
|
|
|
|
|
|
|
Commission Received
|
|
£7,000
|
|
|
|
|
|
|
|
Allowance for doubtful debts
|
|
£1,600
|
|
|
|
|
|
|
|
Rent
|
£12,000
|
|
|
|
|
|
|
|
|
Salaries
|
£120,000
|
|
|
|
|
|
|
|
|
Water Bill
|
£1,900
|
|
|
|
|
|
|
|
|
Bad Debts
|
£3,400
|
|
|
|
|
|
|
|
|
Carriage Out
|
£3,200
|
|
|
|
|
|
|
|
|
Accumulated Depreciation - Premises
|
|
£65,000
|
|
|
|
|
|
|
|
Accumulated Depreciation - Machinery
|
|
£15,000
|
|
|
|
|
|
|
|
Premises
|
£2,000,000
|
|
|
|
|
|
|
|
|
Loan Interest
|
|
|
2
|
|
|
|
|
|
|
Machinery
|
£180,000
|
|
|
|
|
|
|
|
|
Accounts Receivable
|
£35,000
|
|
|
|
|
|
|
|
|
Bank
|
£54,000
|
|
|
|
|
|
|
|
|
Cash
|
£4,500
|
|
|
|
|
|
|
|
|
Mortgage
|
|
£560,000
|
|
|
|
|
|
|
|
Capital
|
|
£1,446,850
|
|
|
|
|
|
|
|
Drawings
|
£2,300
|
|
|
|
|
|
|
|
|
Accounts Payable
|
|
£8,300
|
|
|
|
|
|
|
|
Loan 5% per annum
|
|
£30,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Year
Adjustments:
|
|
|
|
|
|
|
Closing Inventory
|
27500
|
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
3%
|
Premises
|
Straight Line
|
|
|
|
|
|
|
|
8%
|
Machinery
|
Reducing
Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Water Bill is prepaid
|
£500
|
|
|
|
|
|
|
|
|
Salaries owing
|
£2,500
|
|
|
|
|
|
|
|
5%
|
2 months loan interest owing, to be
accrued.
|
|
|
|
|
|
|
|
|
Allowance for Doubtful
Debts rate
|
14%
|
of debtors
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Statement
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Cost of Goods Sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit
|
|
|
|
|
|
|
|
|
|
Add Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Expenses (use TB order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EOYA Expenses (use EOYA order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
|
£
|
£
|
£
|
|
|
|
|
|
|
Fixed Assets (use TB order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Assets (use TB order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EOYA (Use EOYA order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities (use TB order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EOYA (Use EOYA order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|