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      
    Purchases and Sales £54,600 £563,000      
    Premises £450,000        
    Accumulated depreciation (Premises)   £27,000      
    Carriage Out £1,450        
    Bank £135,000        
    Discounts Received   £3,160      
    Drawings £3,200        
    Accounts Receivable £23,500        
    Allowance for doubtful debts   £1,200      
    Vehicles £135,000        
    Accumulated Depreciation (Vehicles)   £24,500      
    Cash £6,590        
    Insurance £2,590        
    Wages £125,900        
    Equipment £96,700        
    Accumulated depreciation (Equip)   £12,500      
    Rent Received   £35,000      
    Loan Interest        
    Carriage In £2,400        
    Bad Debts £1,600        
    Loan (repay in 5 years)   £50,000      
    Capital   £331,270      
    Returns £390 £1,340      
    Rates £1,800        
    Opening Inventory 9500        
    Motor Expenses £6,400        
    Accounts Payable   £12,500      
    Discounts allowed £350        
    End of Year Adjustments:          
    Closing Inventory 9850        
    Allowance for Doubtful Debts rate 8% of debtors      
    Owner took extra drawings from stock £800        
    A new customer has gone bankrupt and his account receivable         
    now must be written off. The amount he owed was:   £1,300.00      
    Depreciation Method:        
    4% straight line      
    12% reducing balance      
    2% reducing balance      
    An accrual is required for commissions receivable: £800      
      Rent Received is pre paid by £1,400        
      Insurance is prepaid £290        
    3 months owing on loan interest at 12% of loan p.a.      
      Motor Expenses are prepaid by £450        
      Accrual required on Wages of  £1,750        
      Rates are owing £290        
      Income Statement £ £      
      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