g item needed to calculate gross profit          
  fa Fixed Asset          
  ca current asset          
  cl current liability          
  fl fixed liability          
  d information needed for calculation          
  pe prepaid expense          
  ae accrued expense          
  Use "ADD" for Allowance for doubtful debts.          
  ADD increase/decrease in the income statement, "Less ADD" in Balance Sheet.      
  "*asset name* depreciation" in the income statement, "less accumulated depreciation" in the balance sheet.  
  Expenses as named in the trial balance for the income statement.        
  "prepaid expense" in the Balance Sheet (e.g. "prepaid insurance").        
  "Accrued expense" in the Balance sheet (e.g. "accrued wages").        
  ID Trial Balance (TB) DR CR      
  Loan (repay in 5 years)   £135,000      
  Capital   £428,525      
  Commissions £2,400        
  Purchases and Sales £64,600 £547,900      
  Rent Received   £35,400      
  Land £150,000        
  Accounts Payable   £24,800      
  Discounts allowed £1,800        
  Accounts Receivable £7,300        
  General Expenses £1,350        
  Accumulated depreciation (Premises)        
  Carriage Out £2,600        
  Bad Debts £1,500        
  Returns £4,100 £6,400      
  Carriage In £4,300        
  Drawings £7,400        
  Discounts Received   £3,400      
  Insurance £3,500        
  Loan Interest        
  Accumulated depreciation (Equip)   £6,100      
  Premises £850,000        
  Motor Expenses £6,500        
  Bank £12,600        
  Equipment £135,000        
  Allowance for doubtful debts   £2,500      
  Salaries £45,900        
  Opening Inventory 7400        
  Cash £3,200        
  End of Year Adjustments:          
  Closing Inventory 8600        
  Allowance for Doubtful Debts rate 4% of debtors      
  Depreciation Method:        
  3% straight line      
  5% reducing balance      
    Insurance is prepaid £350        
  3 months owing on loan interest at 6% of loan p.a.      
    Motor Expenses are prepaid by £450        
    Accrual required on Salaries of  £2,500        
    Income Statement £ £      
    Less Expenses (use TB order)          
    EOYA Expenses (use EOYA order)          
    Balance Sheet £ £ £    
    Fixed Assets (use TB order)          
    Current Assets (use TB order)          
    Current Liabilities (use TB order)          
    Fixed Liabilities