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Buildings

Motor Vehicles

Opening General Journal of West Ltd


Debit
Assets
300,000.00
50.00

Credit

Current Assets
Debtors P.Pork
Stock
Bank
Petty Cash

100.00
800.00
20,000.00
100.00

Liabilities
Creditor G. Gannon
Capital
Assets, Liabilities and Capital on Jan 1st

600.00
370,400.00
371,000.00

371,000.00

Date
Apr. 2
Apr. 15

Date
Apr.21

Date
Apr.1
Apr.11

Date
Apr.25

Details
P.Park Trade Discount 1%
P.Park Trade Discount 1%

Details
P.Park

Details
H. Hutton
G. Gannon T.D.5%

Details
H.Hutton

Sales Day Book


Folio

Sales Ex. VAT


VAT 20%
396.00
79.20
792.00 158.40
1,188.00 237.00
Sales Return Day Book
Folio
Sales Return Ex. VAT VAT 20%
100.00
20.00

Total
475.20
950.40
1,425.00
Total
120.00

Purchases Day Book


Folio
Purch.Ex VAT
VAT 20%
500.00 100.00
760.00 152.00
1,260.00 252.00

Total
600.00
912.00
1,512.00

Purchases Return Day Book


Folio
Purch.Ret. Ex.VAT
VAT 20%
80.00
16.00

Total
96.00

General Ledger
Debit
Date
Apr.1
Apr.22

Date

Date

Date
Apr.21

Date
Apr.1
Apr.21
Apr.28

Date
Apr.1

Date
Apr.1
Apr.17

Date

Credit
Details
Creditors
Bank

Details

Details

Details
Debtor Return

Details
Creditor
Debtor
Bank

Details
Balance B/D

Details
Balance B/D
Bank

Details

Folio
ACB
ACB

Folio

Folio

Folio
SRDB

Folio
PDB
SRDB
ACB

Folio
GJ

Folio
GJ
ACB

Folio

Purchases Account
Amount
Date
Details
1,260.00
300.00
1,560.00
Sales Account
Amount
Date
Apr.2
Apr.5
Apr.20

Details
Debtors
Bank
Bank

Purchases Returs Account


Amount
Date
Details
Apr.25
Creditor Return

Folio

Amount

Folio
SDB
ACB
ACB

Amount
1,188.00
900.00
3,000.00
5,088.00

Folio
PRDB

Amount
80.00

Sales Return
Amount
Date
100.00

Details

Folio

Amount

VAT Account
Amount
Date
252.00 Apr.2
20.00 Apr.1
1,580.00 Apr.20
1,852.00

Details
Debtor
Creditor
Bank

Folio
SDB
PRDB
ACB

Amount
237.60
16.00
818.40
1,852.00

Folio

Amount

Buildings Account
Amount
Date
Details
300,000.00
Motor Vehicles Account
Amount
Date
50,000.00
7,500.00
57,500.00
Capital Account
Amount
Date
Apr.1

Details

Details
Balance B/D

Folio

Folio
GJ

Amount

Amount
370,400.00

Date
Apr.1

Apr.9
Apr.21

Date
Apr.23

Date
Apr.9

Date
Apr.2

Date
Apr.21

Details
Balance B/D

Bank
Bank

Details
Bank

Details
Petty Cash

Details
Petty Cash

Details
Petty Cash

Folio
GJ

Stock Account
Amount
Date
800.00 Apr.31

Folio

Amount
800.00

Folio
ACB

Advertising Account
Amount
Date
Details
100.00

Folio

Amount

Folio
PCB

Postage Account
Amount
Date
12.00

Details

Folio

Amount

Folio
PCB

Stationary
Amount
Date
14.00

Details

Folio

Amount

Folio
PCB

Sundries Account
Amount
Date
Details
44.00

Folio

Amount

ACB
ACB

Details
Trading Account

Wages Account
500.00
500.00
1,000.00

Debtors Leadger
Debit
Date
Apr.1
Apr.2
Apr.15

Credit
Details
Balance B/D
Sales
Sales

Folio
GJ
SDB
SDB

Balance B/D

Date
Apr.25

Date
Apr..28

Details
Folio
Returns
PRDB
Balance C/D

Details
Folio
Bank
ACB
Balance C/D

P Park LTD Account


Total
Date
100.00 Apr.6
475.20 Apr.6
950.40
1,525.60
1,206.60

Details
Folio
Bank
ACB
Sales Ret.
SRDB
Balance C/D

Creditors Leadger
H.Hutton LTD Account
Total
Date
Details
Folio
96.00 Apr.1
Purchases
PDB
504.00
600.00
Balance C/D
G. Gannon LTD Account
Total
Date
Details
Folio
300.00 Apr.1
Balance B/D
1,212.00 Apr.11
Purchases
PDB
1,512.00
Balance B/D

Total
200.00
120.00
1,205.60
1,525.60

Total
600.00
600.00
504.00

Total
600.00
912.00
1,512.00
1,212.00

Analysed Cash Book


Debit
Details
Balance B/D

Sales
P.Pork
Sales

Credit
F

Cash

Bank

Salex Ex.Vat

VAT 20%

Debtor

20,000.00

1,080.00

900.00

180.00

3,000.00

600.00

200.00
3,600.00

200.00

24,880.00

3,900.00

780.00

200.00

Other

Date

Details

Apr.9

Wages

Apr.17

Motor Vehicle

Apr.21

Wages

500.00

Apr.22

Purchases

360.00

Apr.23

Advertising

120.00

Apr.28

G.Gannon

300.00

Balance C/D

Ch.No. Bank

Purchase

14,100.00

Creditors

500.00

14,100.00

Other
500.00

9,000.00

24,800.00

Balance B/D

VAT 20%

1,500.00

7,500.00
500.00

300.00

60.00
20.00

100.00
300.00

300.00

1,580.00

300.00

8,600.00

Date Details
Apr.1 Balance

Date
100.00 Apr.2
Apr.9
Apr.15
Apr.21

Details
Envelopes
Postage
Repairs
Tickets
Balance C/D

100.00
Balance B/D

30.00

Petty Cash Book


Petty Cash Book
Vch.No.

Postage Advertise Stationery Sundries VAT


16 14.00
14.00
17 12.00 12.00
18 24.00
24.00
19 20.00
20.00
30.00
100.00

12.00

14.00

44.00

The Adjusted Cash Book of West Ltd.


Date
Jun.1

Details
Balance B/D

Total

Date
1,508.00 Jun.1
1,508.00

Balance B/D

Details
Total
Standing Order
200.00
Balance C/D
1,308.00
1,508.00

1,308.00

Bank Reconciliation Statement as at 31.05.2012 of West Ltd.


Balance as per Statement
Less Chq.not presented Petrol Chq. No. 8 May 11th

1,368.00
60.00
1,308.00

Date

West Ltd Trial Balance as at 31/04/13


Details
Debit
Credit
Nominal Ledger
Purchases
1,560.00
Sales
5,088.00
Purchases Return
80.00
Sales Return
100.00
VAT
808.40
Buildings
300,000.00
Motor Vehicles
57,500.00
Capital
370,400.00
ACB Bank
14,100.00
Debtors Ledger
P.Pork LTD
1,205.60
Creditors Ledger
H.Hutton Ltd
504.00
G.Gannon Ltd
1,212.00
Stock
800.00
Wages
1,000.00
Advertising
100.00
Postage
12.00
Stationary
14.00
Sundries
44.00
Petty Cash Imprest Restored
40.00
377,284.00 377,284.00

Debtors Control Account as at 31.10.2012


Debit
Date Details
Amount
Date Details
Oct.1 Balance B/D
38,400.00 Oct.30 Ret.Inwards
Oct.30 Sales
137,200.00 Oct.30 Payments Receved
Balance C/D
175,600.00
Balance B/D
27,040.00

Creditors Control Account as at 31.10.2012


Debit
Date Details
Amount
Date Details
Nov.30 Returns Outward 3,600.00 Nov.1 Balance C/D
Nov.30 Cheques Paid
42,000.00 Nov.30 Credit Purchase
Balance C/D
73,200.00
11,800.00
Balance B/D

Credit
Amount
2,560.00
146,000.00
27,040.00
175,600.00

Credit
Amount
67,200.00
51,600.00
118,800.00
73,200.00

Analysis and Interpretation


2010
2011
Current Assets= 280.000
Current Assets= 320.000
Current Liabilities=160.000
Current Liabilities=192.000
Sales= 960.000
Sales= 1.200.000
C.A./C.L.= 280.000/160.000=1.75:1
C.A./C.L.= 320.000/192.000=1.66:1
Current Assets Less Stock=216.000
Current Liabilities=160.000
Sales=960.000
(C.A.-Stock)/C.L=216.000/160.000=1.35:1

Current Assets Less Stock=272.000


Current Liabilities=192.000
Sales=704.000
(C.A.-Stock)/C.L=272.000/192.000=1.42:1

Answer
Working Capital 2010=Current Ratio=1.75:1
Working Capital 2011=Current Ratio=1.66:1
Acid-Test Ratio (quick ratio) 2010=1.35:1
Acid-Test Ratio (quick ratio) 2011=1.42:1