ID: 1106740 Basic Accounting Self Assessment Test 2 Muir and Hall Business Trial Balance 31 October 2010

Accounts Cash At Bank Accounts Receivable Inventory Machinery Vehicle Accounts Payable Bank Loan Accrued Expense Muir & Hall, Capital Sales Cost of Goods Sold Discount Received Legal Expense Rent Expense Wage Expense Debit 50,700.00 9,000.00 6,000.00 12,000.00 11,000.00 Credit Muir and Hall Business Income Statement As the Month ended 31 October 2010 Revenue(s) Sales Cost of Goods Sold Gross Profit Discount Received Total Revenue(s) Expense(s) Legal Expense Rent Expense Wage Expense Total Expense(s) Net Loss

15,000.00 9,500.00 5,500.00 600.00 6,100.00

5,500.00 3,000.00 83,000.00 15,000.00 600.00

3,000.00 5,000.00 900.00 - 8,900.00 - 2,800.00

9,500.00 3,000.00 5,000.00 900.00 107,100.00

107,100.00

ID: 1106740 Basic Accounting Self Assessment Test 2 Muir and Hall Business Balance Sheet As at 31 October 2010 Fixed Assets Machinery Vehicle Current Assets Inventory Accounts Receivable Cash at Bank Current Liabilities Accounts Payable Accrued Expense Net Current Assets Long-term Liability Bank Loan Net Assets Owners' Equity Muir and Hall, Capital at the beginning of the period 1 October 2010 Net Income/Loss during the period Muir and Hall, Drawings Increase/Decrease in Owners' Equity Muir and Hall, Capital 31 October 2010 12,000.00 11,000.00 23,000.00

6,000.00 9,000.00 50,700.00 65,700.00 - 3,000.00 - 3,000.00 62,700.00 5,500.00 80,200.00

83,000.00 - 2,800.00 2,800.00 80,200.00

ID: 1106740 Basic Accounting Self Assessment Test 2 Cash at Bank 50000 2-Oct 5500 3-Oct 6000 4-Oct 11-Oct 15-Oct Muir and Hall, Capital 1-Oct Cash at Bank

1-Oct Muir and Hall, Capital 11-Oct Bank Loan 14-Oct Sales

Rent Expense Machinery Inventory Accounts Payable Wages Expense

5000 12000 3500 5500 900

50000

4-Oct Cash at Bank 7-Oct Accounts Payable

Inventory 3500 14-Oct Cost of Goods Sold 12000 Machinery 12000

3500

2-Oct Cash at Bank

Rent Expense 5000

3-Oct Cash at Bank

11-Oct Cash at Bank

Accounts Payable 5500 7-Oct Inventory 8-Oct Vehicle Bank Loan 11-Oct Cash at Bank

12000 11000

8-Oct Accounts Payable

Vehicle 11000

5500

Sales 14-Oct Cash at Bank 6000 14-Oct Inventory

Cost of Goods Sold 3500

15-Oct Cash at Bank

Wages Expense 900

Accounts Receivable