Tutorial 9 FA1.docx - UNIVERSITI TUNKU ABDUL RAHMAN FACULTY...

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UNIVERSITI TUNKU ABDUL RAHMAN FACULTY OF ACCOUNTANCY AND MANAGEMENT ACADEMIC YEAR 2017/2018 BACHELOR OF ACCOUNTING (HONS) UKAF 1023 FINANCIAL ACCOUNTING 1 Suggested Solution 9 1 Opening capital: 31.10.2003 Cash 210 Bank 4700 Fixtures 2800 Stock 18200 Debtors 26600 Motor van 6800 Less creditors -12700 46610 Statement of affairs at 31.10.2004 Fixed assets: Motor van 6800 Less depreciation 1360 5440 Fixtures 3700 Less depreciation 370 3330 Current assets: Stock 23900 Debtors 29400 Prepaid exps 460 Cash 190 53950 Less current liabilities: Trade creditors 9100 Accruals 320 Bank overdraft 1810 11230 Working capital 42720 51490 Financed by: Capital at 31.10.2003 46610 Add net profit 29480 Add cash introduced 7600
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83690 Less drawings -32200 51490 2 (FW1Q35.7A/436)
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3. Carman Income Statement for the year end 31/12/ 2009 sales: cash 96400 credit 74120 170520 cost of sales o /stock 23000 purchases 117800 140800 c /stock 19000 121800 Gross profit 48720 Expense s Electricity 3600 general expenses 9000 advertising 2200 dep-fixtures 3000 dep-motor 6000 loss on fixtures 9000 wages 20800 53600 Net loss 4880
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Carman Balance Sheet as at 31/12/2009 Fixed assets premises 130000 fixtures 27000 Motor 24000 181000 Current assets stock 19000 debtors 14120 advertising 800 Insuranc e 6000 39920
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  • Fall '19
  • Balance Sheet, Generally Accepted Accounting Principles, Carman

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