|
|
|
|
|
|
|
|
|
|
|
|
|
|
Score:
|
|
|
|
|
|
|
|
|
Estimated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trial Balance (TB)
|
DR
|
CR
|
|
|
|
|
|
|
Sales
|
|
£278,000
|
|
|
|
|
|
|
Returns In
|
£2,800
|
|
|
|
|
|
|
|
Opening Inventory
|
£15,600
|
|
|
|
|
|
|
|
Purchases
|
£64,000
|
|
|
|
|
|
|
|
Returns Out
|
|
£3,400
|
|
|
|
|
|
|
Carriage In
|
£950
|
|
|
|
|
|
|
|
Commission Received
|
|
£25,000
|
|
|
|
|
|
|
Allowance for doubtful debts
|
|
£840
|
|
|
|
|
|
|
Rent
|
£12,500
|
|
|
|
|
|
|
|
Salaries
|
£120,000
|
|
|
|
|
|
|
|
Water Bill
|
£1,400
|
|
|
|
|
|
|
|
Bad Debts
|
£850
|
|
|
|
|
|
|
|
Carriage Out
|
£1,700
|
|
|
|
|
|
|
|
Accumulated Depreciation - Premises
|
|
£83,400
|
|
|
|
|
|
|
Accumulated Depreciation - Machinery
|
|
£4,800
|
|
|
|
|
|
|
Premises
|
£450,000
|
|
|
|
|
|
|
|
Machinery
|
£70,000
|
|
|
|
|
|
|
|
Accounts Receivable
|
£23,500
|
|
|
|
|
|
|
|
Bank
|
£17,400
|
|
|
|
|
|
|
|
Cash
|
£5,200
|
|
|
|
|
|
|
|
Mortgage
|
|
£230,500
|
|
|
|
|
|
|
Capital
|
|
£111,860
|
|
|
|
|
|
|
Drawings
|
£3,100
|
|
|
|
|
|
|
|
Accounts Payable
|
|
£16,200
|
|
|
|
|
|
|
Loan 5% per annum
|
|
£35,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Year
Adjustments:
|
|
|
|
|
|
Closing Inventory
|
21400
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
5%
|
Premises
|
Reducing
Balance
|
|
|
|
|
|
The machinery
was bought for £70,000 and will be sold after 15 years for
|
|
|
|
|
|
52000 (the
residual value). Depreciate using the straight line method.
|
|
|
|
|
|
|
Water Bill is prepaid
|
£360
|
|
|
|
|
|
|
|
Salaries owing
|
£2,500
|
|
|
|
|
|
|
5%
|
A full year's loan interest to be
accrued.
|
|
|
|
|
|
|
|
A customer is included in the trial balance whom the owner now wants to
|
|
|
|
|
|
write off as a bad debt. The customer owed £750.
|
|
|
|
|
|
Allowance for Doubtful
Debts rate
|
14%
|
of debtors
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Statement
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Expenses (use TB order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EOYA Expenses (use EOYA order)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|