|
|
c
|
affects capital
|
|
|
|
|
|
|
|
|
|
fa
|
fixed asset
|
|
|
|
|
|
|
|
|
|
ca
|
current asset
|
|
|
|
|
|
|
|
|
|
cl
|
current liability
|
|
|
|
|
|
|
|
|
|
fl
|
fixed liability
|
|
|
|
|
|
|
|
|
|
e
|
expense
|
|
|
|
|
|
|
|
|
|
pe
|
expense with prepaid part
|
|
|
|
|
|
|
|
|
|
ae
|
expense with accrued part
|
|
|
|
|
|
|
|
|
|
pr
|
revenue with prepaid part
|
|
|
|
|
|
|
|
|
|
ar
|
accrued revenue
|
|
|
|
|
|
|
|
|
|
g
|
required for gross profit
|
|
|
|
|
|
|
|
|
|
d
|
data to be calculated upon.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ID
|
Trial Balance (TB)
|
DR
|
CR
|
|
|
|
|
|
|
|
|
Sales
|
|
£325,000
|
|
|
|
|
|
|
|
|
Returns In
|
£1,300
|
|
|
|
|
|
|
|
|
|
Opening Inventory
|
£12,300
|
|
|
|
|
|
|
|
|
|
Purchases
|
£75,600
|
|
|
|
|
|
|
|
|
|
Returns Out
|
|
£3,200
|
|
|
|
|
|
|
|
|
Carriage In
|
£4,500
|
|
|
|
|
|
|
|
|
|
Commission Received
|
|
£7,500
|
|
|
|
|
|
|
|
|
Allowance for doubtful debts
|
|
£1,700
|
|
|
|
|
|
|
|
|
Rent
|
£5,800
|
|
|
|
|
|
|
|
|
|
Salaries
|
£95,000
|
|
|
|
|
|
|
|
|
|
General Expenses
|
£4,500
|
|
|
|
|
|
|
|
|
|
Bad Debts
|
£1,800
|
|
|
|
|
|
|
|
|
|
Carriage Out
|
£2,400
|
|
|
|
|
|
|
|
|
|
Accumulated Depreciation - Premises
|
|
£45,000
|
|
|
|
|
|
|
|
|
Accumulated Depreciation - Motor
Vehicles
|
|
£12,000
|
|
|
|
|
|
|
|
|
Premises
|
£670,000
|
|
|
|
|
|
|
|
|
|
Motor Vehicles
|
£120,000
|
|
|
|
|
|
|
|
|
|
Accounts Receivable
|
£13,800
|
|
|
|
|
|
|
|
|
|
Bank
|
£24,900
|
|
|
|
|
|
|
|
|
|
Cash
|
£7,500
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
£500,000
|
|
|
|
|
|
|
|
|
Capital
|
|
£97,000
|
|
|
|
|
|
|
|
|
Drawings
|
£3,400
|
|
|
|
|
|
|
|
|
|
Accounts Payable
|
|
£12,400
|
|
|
|
|
|
|
|
|
6% Loan Repayable in 5 years
|
|
£40,000
|
|
|
|
|
|
|
|
|
Loan Interest
|
£1,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of Year
Adjustments:
|
|
|
|
|
|
|
|
Closing Inventory
|
65000
|
|
|
|
|
|
|
|
|
Allowance for Doubtful
Debts rate
|
14%
|
of debtors
|
|
|
|
|
|
|
|
Depreciation
|
Method:
|
|
|
|
|
|
|
|
|
5%
|
Premises
|
straight
line
|
|
|
|
|
|
|
|
20%
|
Motor Vehicles
|
reducing
balance
|
|
|
|
|
|
|
|
|
Rent is prepaid
|
£550
|
|
|
|
|
|
|
|
|
|
Salaries owing
|
£1,200
|
|
|
|
|
|
|
|
|
6%
|
An accrual is required for loan interest
|
|
|
|
|
|
|
|
|
|
|
Owner took additional drawings from Stock:
|
£1,200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|