Beruflich Dokumente
Kultur Dokumente
Particulars
L1 Equipment
Page
Debit
Credit
Balance
25,000
Particulars
L2 Fittings
Page
Debit
Credit
Balance
7,300
8,100
Credit
Balance
1-Jan
Date
1-Jan
27/01/12 Cash
800
L3 Inventories
Page
Debit
Date
Particulars
1-Jan
05/01/12
6/1/112
14/01/12
17/01/12
24/01/12
Trade payable
Cost of goods
Cash
Cost of goods
Drawings
Date
Particulars
12,200
12,300
2,700
7,100
500
L5 Trade receivables
Page
Debit
1-Jan
6/1/112
Sales
19/01/12 Cash
Date
1-Jan
07/01/12
10/01/12
11/01/12
14/01/12
17/01/12
19/01/12
23/01/12
24/01/12
25/01/12
26/01/12
27/01/12
Date
1-Jan
26,700
26,800
L6 Cash
Page
Debit
Particulars
Wages
Rent
Accrued electricity
Inventories
Sales
Trade receivables
Trade payables
Drawings
Loan
General expenses
Fittings
Particulars
Credit
Credit
2,600
700
500
2,700
15,300
26,800
L8 Trade payables
Page
Debit
9,500
4,500
2,000
600
800
Credit
13,200
25,400
13,100
15,800
8,700
8,200
Balance
10,200
36,900
10,100
Balance
36,000
33,400
32,700
32,200
29,500
44,800
71,600
62,100
57,600
55,600
55,000
54,200
Balance
9,500
05/01/12 Inventories
23/01/12 Cash
12,200
9,500
21,700
12,200
25,000
7,300
32,300
13,200
10,200
36,000
59,400
91,700
59,700
22,000
500
9,500
10,000
91,700
L1 Equipment
25,000
L2 Fittings
8,100
L3 Inventories
8,200
L5 Trade receivables
10,100
L6 Cash
54,200
L8 Trade payables
L7 Accrued electricity
L8 Loan
L9 Equity
L10 Sales
L11 Cost of sales
19,400
L12 Rent
700
L13 Electricity
400
L14 General expenses
600
L15 Wages
2600
L16 Drawings
5000
134,300
Credits
12,200
400
20,000
59,700
42,000
134,300
Sales revenue
42,000
Cost of sales
19,400
Gross profit
22,600
Wages
(2,600)
Rent
(700)
General expenses
(600)
Electricity
(400)
Net profit
18,300
Plus 1/1 equity
59,700
Less withdrawals
(5,000)
31/1 Equity
73,000
25,000
8,100
33,100
8,200
10,100
54,200
72,500
105,600
73,000
20,000
400
12,200
12,600
105,600
Select the term that best corresponds to the definition or description and write it in the box to the rig
be used more than once or not at all.
A company has a policy to expense all equipment costing under $100
1
even when the equipment will last longer than a year.
Same accounting principles and methods used from year to year within a
2
company.
3
Shows that the debits equal the credits
The transactions of Tesco and Sainsbury can be separately identified and
4
recorded.
The economic life of a business can be divided into months, quarters and
5
years.
6
Expenses incurred but not yet paid are recorded in the income statement.
7
Revenue is recorded when it is earned.
The business will continue in operation long enough to carry out its
8
existing objectives.
9
Cost of goods is included in the income statement.
10 An item that has future economic benefits to an entity.
11 The financial statements are reported in millions.
12 Land is recorded at what is paid to acquire the land.
13 An item that will require future sacrifice of economic benefits.
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