Q1

Merlin Club

2012

Income and Expenditure account

$
2012

31-Dec Collection at competition

31-Dec Profi trom sale of drinks at competition

10,320
13,200

23,520

* opening balance = bank

*purchases of machinery= non current assets
* open accumulated balance= opening assets - opnening liabilities

31-Dec
31-Dec
31-Dec
31-Dec
31-Dec
31-Dec
31-Dec
31-Dec

rental of hall space

printing
salary of admin staf
repairs to machinert
wages
general expenses
deprecoation on mahienery
Surplus Income

Statement of finnacial position

as at 31 decemeber 2012

$
2,160
168
192
168
9,600
144
864
10,224
23,520

non current assets

Machinery
less:
accumulated depreca=iation
xurrent assets
rent paid in advence
Bank
less: current liabilities
Printig in accrued
Net assets
Financed by
openning capital
add: surplus income

4,320
864
3,456

720
13,056
13776
-48
13728
17,184

6,960
10,224
17,184

Jam Moon Ltd

2006
1-Jan Bank
1-Jul bank
2007
1-Jan bal b/d

1-Jan bal b/d

Furniture account
2006
5,000
31-Dec bal c.d
4000
9000
2007
9000
30-Nov Disposal
31-Dec bal c/d
9,000
4,000

Provision for dep

2006
31-Dec bal c/d

9000
9000

31-Dec disposal
bal c.d

5,000
4,000
9,000

depr 2006 depr 2007

cost
Furniture
Furniture

total
5,000
4,000

1,250
500

1,146
1,000

2,396
1500

2604
2,500

Provision for depreciation Account

2006
1,750
31-Dec profit and loss
1750
2007
2,396
1-Jan bal b/d
1,500
p/l
p/l
3896

1,750
1,750

Disposal account
30-Nov dfurniture
5,000
Profit on disposal 596
5,596

1,750
1,146
1,000
3,896

Disposal account
30-Nov bank
31-Dec Provison

3,200
2,396
5,596

2004
1-Jan bank
1-Sep bank
2005
1-Jan bal b/d
2006
1-Jan Bal b/d
1-Jul bank
1-Jan bal b.d

office equipment
2004
3000
31-Dec
2000
5000
5,000
31-Dec
5,000
2006
5000
31-Dec
2,800
7,800
7,,800
31-Aug

depreciation on office equip

bal c/d

5000

bal c/d

5000
5000
5000

2005
31-Dec balc/d

balc .d

7800

2006
31-Dec bal c/d

disposal
bal c/d

7800
3000
4,800
7800

7800

2004
cost

cost
2004

3,000
2000 sept

2005
2006 2,800 Jul
2007

depr

2005
depr

600
133

2006
depr

600
400

2004
31-Dec bal c/d

2007
aud 31
disposal
31-Dec bal c/d

2007
depr

total

600
400

400
400

2200
1333

280

560
1360

840

depreciation on office equipement

2004
733
31-Dec p/l
733
2005
1733
1-Jan bal b/d
3-Dec p/l
1733
2006
3013
1-Jan bal b/d
31-Dec p/l
3013
2007
2200
1-Jan bal b/d
2173 32 dec
p/l
4373

733
733
733
1000
1733
1733
1280
3013
3013
1360
4373

office equipment disposal account

31-Aug office equipment3000
31-Aug
profit on disposal 400
3,400

disposal account
bank

1200
2200
3400

Mental Enterprise
Statement of Comprehensive Income
for the year ended 31 dec 2014
$
sales
less:return inwards
less: cost of sales
opening inventory
add purchases

less closing inventory

gross profit
add income
less expenses
salary +1800
23890
rent prepaid
2500
-12000
provison for douthful debts
depreciation on moor vehichle
bad debts
utilities

Mental Enterprise
Statement of financial statement
as at 31 dec 2014
$

$
178,500
-1230
177,270
9800
34000
43800
12950

30850
146,420

25690
9500
200
8000
2,300
4450

non currnt assets

motor vehicle
less: accumulatedd deprecition on motor veh

current assets
inventory
rent prepaid
Accpunt receivable
less accumulated provision for douthfuld ebt
bank
cash
less current liabilities
salary accrued
account payable
net assets

50140
96,280

Finaced by
opening capital
add
less drawings

of financial statement
$

$
80000
8000
72000

mulatedd deprecition on motor vehocle

12950
2500

13450
ulated provision for douthfuld
1,200
ebts

1,800
22390

12,250
67800
700
96200

24,190
72,010
144010
53730
96280
-6000
144010

Cash Book (Bank)

1-Jan bal b/d
7600
31-Dec bank charges
800
dividend
500
staff professional membership
340
correcton error
45
loan
230
customer(cheque dishounoure0
100
supplier
90
bal c.d
6585
8145
8145

Bank Reconciliation
As at
Balance as per cash book
Add unpresentedd cheques
wages

Less uncredited lodgement

balance as per bank statement

per cash book

6585

sentedd cheques

dited lodgement
per bank statement

1500

-600
7485