Jasper, a sole trader, has provided the following summary of his bank.docx

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Jasper, a sole trader, has provided the following summary of his bank receipts and payments for the year ended 30 April 2010 DR CR Cash and cheques 424 000 Machinery Payments to creditors Rent Insurance Wages Postage Electricity Sundries 30 400 228 000 24 200 14 200 104 200 800 8 400 4200 Jasper's year-end balances were as follows: At 30 April 2009 2010 Trade receivables (debtors) Inventory (stock) Trade payables (creditors) Machinery at net book value Rent prepaid Insurance prepaid 46 400 24 400 29 200 206 400 30 600 32 200 216 000 6 200 3400
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Unformatted text preview: Bank 5 400 CR Additional information During the year machinery with a net book value of $5 600 was sold for $1 000, which was paid into Jasper's private bank account. Jasper took a salary of $28 000 which was included in the wages account. Mark-up is calculated as 75% on cost. REQUIRED For the year ended 30 April 2010: (a) (b) Calculate Jasper's ordinary goods purchased (purchases). Calculate Jasper's sales. Prepare Jasper's income statement (trading and profit and loss account). Prepare Jasper's balance sheet at 30 April 2010....
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