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Task 1
Trial balance
Cr: office equipment, petrol, electricity, bad debts, drawings, interest, capital, interest received, creditors, loan.
Dr: rent, phone, delivery van repairs, driver’s wages, insurance, delivery van, furniture, bank, wages, fees,
Income statement:
Dr:creditors,
Cr:petrol, electricity, bad debts,interest,driver’s wages, insurance,bank, wages, fees
Balance sheet:
Dr:capital
Cr:creditors, loan,wages, fees
Task 2
Car 1:
Current period: 30000*0.25=7500
Accumulated depreciation 30000
Car 2:
Current period: 30000*0.25*9/12=5625
Accumulated depreciation 30000
Car 3:
Current period: 30000*0.25*6/12=3750
Accumulated depreciation 30000
Car 4:
Current period: 30000*0.25*3/12=1875
Accumulated depreciation 30000
Car 5:
Current period: 0
Accumulated depreciation 30000
Task 3
a) A trial balance
Dr buildings 44000
Motor vehicles 3400
Plant and machinery 25000
Goodwill 1600
Accounts receivable 15000
Cash in hand 270
Stock 8000
Purchase 150000
Discount received 270
Advertising 900
Office expenses 1900
Bad debts 220
Salaries 9000
Cr bank overdraft 15000
Sales 180500
Mortgage 9500
Accumulated depreciation-buildings 2000
Wages 5000
Accounts payable 16000
Accumulated depreciation-plant and machinery 5000
Capital 55100
Provision for doubtful debts 80
Drawings 3000
Bills receivable 2000
b) Profit and loss statement
Sales 180500
Purchase 150000
profit 30500
accumulated depreciation 7000
advertising 900
bad debts 220
office expense 1900
20480
Question 1
1500/5=300
Question 2
First year 600
Four years: (1500-600)/4=225
Question 3
2011: (140000-20000)/5*9/12=18000
2012 and 2013:(140000-20000)/5=24000
Question 5
2011: 140000*20%=28000
2012: (140000-28000)*20%=22400
2013: (140000-28000-22400)*20%=17920
Question 6
2011: 140000-28000=112000
2012: 140000-28000-22400=89600
2013: 140000-28000-22400-17920=71680
Question 7
Same as question 5.
Question 8
2011: 140000*50%=70000
2012: (140000-70000)*50%=35000
2013: (140000-70000-35000)*50%=17500
Question 9
(100000-10000)*1/15=6000
Question 10
100000-6000=94000
Question 1
Closing balance of accounts receivable = opening balance of accounts receivable + value of credit sales– cash received from accounts receivable
Therefore, value of credit sales = $141,000
Question 2
Closing balance of accounts receivable = opening balance of accounts receivable + value of credit sales– cash received from accounts receivable – sales return
Therefore, value of credit sales = $142,500
Question 3
Dr Cr
4100 8200
74000 (4200)
(75600) 4000
2500
Question 4
a) Trading accounts
Opening inventory 7000
Purchases 44000
Sales 41500
Closing inventory 9500
b) Trading statement
Sales 137500
Purchases 43450 (44000-550)
94050
Electricity 2200
Depreciation 7000
Manager wages 38000
Replacement crockery etc 1100
Casual staff wages 22000
23750
Question 5
Statement of financial position
Assets
Equipment 2000
Fixtures and fittings 4000
Accounts receivable 1230
7230
Bank 1060
8290
Liabilities and equity
Drawings 13000
Accounts payable 290
Capital 17140
Loan 3000
33430
Question 6
25000 7500 7500 17500
17500 5250 12750 12250
12250 3675 16425 8575
8575 2572.5 18997.5 6002.5
6002.5 1800.75 20798.25 4201.75
4201.75 1260.53 22058.78 2941.22
Question 9
Accounts receivable (9500-8200) 1300
Inventory (7500-8200) (700)
Depreciation (36000-26000) 10000
Accounts payable (7000-10000) 3000
Cash generated from operating activities: 13600
Loan (20000-20000) #p#分页标题#e#
Cash generated from investing activities: 0
Cash generated from financial activities:
Sales of plant (2000-5000) (3000)
Opening cash 8200
Closing cash 9500
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