INTRODUCTION TO PROFESSIONAL PRACTICE

Unit Workshop: Solicitors’ Accounts 2

Preparatory Task 1 Exemplar

CLIENT: Mr Webb BUSINESS CLIENT

MATTER: Conveyance
DATE DETAILS DR CR BAL DR CR BAL
May £ £ £ £ £ £
14 Cash. For deposit 15,000 15,000 CR
16 Cash. Deposit. To Solicitor for 15,000 --------
Seller
28 Cash. From Webb 137,190 137,190 CR
29 Cash. Completion 135,000 2,190 CR
30 Cash. Stamp Duty Land Tax 1,500 690 CR
31 Profit Costs 450 450 DR
31 VAT 90 540 DR
June
7 Cash. Land Registry Fee 150 540 CR
8 Cash. Amount due 540 ------- 540 --------

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