Professional Documents
Culture Documents
Question 1
Dr Travel account Cr
Oct 31 Petty cash book 19.18
Dr Cleaning account Cr
Oct 31 Petty cash book 82.22
Dr CASH BOOK Cr
Discounts Discounts
Allowed Bank Received Bank
$ $ $ $
June 1 Balance 3 880 June 2 Petty cash book 181
3 Sales 832 16 A Mohammed 70 1 330
10 Y Khan 16 624 25 J Ram 93 1 767
22 B Taylor 22 858 26 Office expenses 45
23 Sales 902 29 Vehicle fuel 48
30 Wages 1 580
30 Balance c/d 2 145
38 7 096 163 7 096
July 1 Balance b/d 2 145
Question 4
Dr CASH BOOK Cr
Discounts Discounts
Allowed Bank Received Bank
$ $ $ $
Mar 1 Balance 1 724 Mar 2 Petty cash book 266
6 Dass & Co. 118 2 242 10 P Nanan Ltd 229 4 351
7 Sales 1 460 14 Rent 780
21 MV Tammy 165 3 135 20 Wages 2 480
23 Sales 782 24 Vehicle repairs 83
28 General expenses 64
30 Balance c/d 1 319
283 9 343 229 9 343
April 1 Balance b/d 1 319
Question 5
Emily Williams
Income Statement
for the year ended 31 October 2014
$ $
Revenue 199 281
less sales returns (258)
199 023
Purchases 118 548
Less purchases returns (803)
(117 745)
Gross profit 81 278
Discounts received 782
82 060
Bank charges 387
Cleaning expenses 114
Discounts allowed 559
Insurance 2 194
Office expenses 1 183
Rent 18 340
Travel expenses 173
Wages 31 286
(54 236)
Profit for year 27 824
CURRENT ASSETS
Trade receivables 2 804
Petty cash 32
2 836
30 336
$ $
CAPITAL 23 785
CURRENT LIABILITIES
Trade payables 5 523
Bank overdraft 1 028
6 551
30 336
Question 6
Omar
Income Statement
for the year ended 31 August 2014
$ $
Revenue 432 276
Less sales returns (1 414)
430 862
Purchases 285 480
less purchases returns (2 205)
(283 275)
Gross profit 147 587
Discounts received 181
147 768
Administration expenses 4 483
Bank charges 511
Bank loan interest 1 040
Discounts allowed 302
General expenses 3 906
Rent 31 360
Stationery and postage 308
Vehicle running expenses 6 407
Wages 48 380
(96 697)
Profit for year 51 071
CURRENT LIABILITIES
Bank loan 18 000
Trade payables 8 470
26 470
105 332