TRADING ACCOUNT FOR THE YEAR ENDED 30 TH JUNE 2017

OPENING INVENTORY 8000 CLOSING INVENTORY 7550

CARRIAGE INWARDS 156 SALES 124250
PURCHASE 86046 RETURN INWARDS 186 124064
RETURN OUTWARDS 135 85911
WAGES 8250
WAGES PREPAID 300 7950
GROSS PROFIT 29597
131614 131614
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 TH JUNE 2017
CARRIAGE OUTWARDS 546 GROSS PROFIT 29597
SHOP RENT 2560 BIRTHDAY CATERING 2500
PREPAID SHOP RENT 650 1910 BIRTHDAY CATERING UNEARNED 1000 1500
INSURANCE 120 SPECIAL SUNDAY BRUNCH 740
OUTSTANDING INSURANCE 400 520 SPECIAL SUNDAY BRUNCH OUT STANDING 800 1540
VEHIVLE MAINTENANCE 256 INVESTMENT INCOME 2000
OFFICE EXPENSE 2000 INVESTMENT INCOME UNEARNED 1500 500
NEWS PAPER 48 MAGIC SHOW TICKETS 400
GENERAL EXPENSES 2056 MAGIC SHOW TICKETS OUT STANDING 1200 1600
SALARIES 3500 THANKS GIVING INCOME 138
EQUIPMMENT AND MAINTENANCE 1040 BAR INCOME 45
PRINTING & STATIONARY 640
P&S OUT STANDING 600 1240
DEPRICIATION 2663
IRRECOVERABLE ACCOUNT RECEIVABLE 2028
PROFIT 17113
34920 34920
LAND & BUILDING 8000 533.333 CAPITAL 20000
VEHICLE 8000 800 INTEREST RATE 5.5
BAKING EQUIPMENT 5480 1096 AMOUNT 1100
FIXTURES & FITTING 700 233.333 ACCOUNT RECEIVEABLE 20280
TOTAL DEPRICIATION 2663 10% IRRECOVERABLE ACCOUNT RECE 2028
BALANCE SHEET AS ON 30 TH JUNE 2017
LONG TERM ASSETS LONG TERM LIABILIIES
LAND & BUILDING 8000
LESS L&B DEPRICIATION 533 7467
VEHICLE 8000 SHORT TERM LIABILITIES
LESS L&B DEPRICIATION 800 7200 ACCOUNT PAYABLE 10056
BAKING EQUIPMENT 5480 PROFIT 17113
LESS B.E DEPRICIATION 1096 4384 DRAWINGS 1750
FIXTURES & FITTING 700 CAPITAL 20000 18250
LESS F.F DEPRICIATION 234 466 UNEARNED EARNINGS 2500
SHOR TERM ASSETS OUT STANDING EXPENSES 1000
1ST JULY INVENTORY 7550
ACCOUNT RECEIVABLE 20280
IRRECOVERABLE ACCOUNT RECEIVABLE 2028 18252
CASH AT BANK 650
PREPAID EXPENCE 950
OUT STANDING EARNINGS 2000
48919 48919