Assignment Name : City of Oxford College, Diploma in Business Management

Student Name :
Student ID : XXXXX
Intake :
Module Name : Principles of Accounting
Contents
(a) The Sales Day Book and post to the personal account ..................................................................... 3
b.The Purchase Day Book and post to the personal account ........................................................................ 4
c.Transfer the total to the sales account and purchase account in the General Ledg .................................... 5
No.2 Three-Column Cash Book ................................................................................................................... 6
3.(a) Income Statement for the year ended 31st Dec 2017 ........................................................................... 7
b. Statement of Financial Position as at 31st Dec 2017 ................................................................................ 8
No.4 Control Accounts ................................................................................................................................. 8
(i) Purchase Ledger Control Account ..................................................................................................... 8
(ii) Sale Ledger Control Account ......................................................................................................... 8
5. Aliya Trading and profit & loss account for the year ended 31 December 2016...................................... 9

(a) The Sales Day Book and post to the personal account.

Purchase Day Book

Invoice
Date Suppliers Name No Folio Ammiunt
1-
May D.Scott 119 $
15 M.White 89
J.Wong 67

Transfer to Purchase A/C 275

Sale Day Book

Invoice
Date Suppliers Name No Folio Ammiunt
4-
May A.Simes 188
15 B.Lopex 88
M.Barrow 970
 Transfer to Sales A/C 1246

Return Outward Day

Book

Invoice
Date Suppliers Name No Folio Ammiunt
9-
May D.Scott 14
15 J.Wong 67

Transfer to Sales A/C 81

Return Intward Day Book

Invoice
Date Suppliers Name No Folio Ammiunt
7-
May A.Simes 12
15 B.Lopex 17
30 M.Barrow 35
Transfer to Return Inward A/C 135

b.The Purchase Day Book and post to the personal account

D.Scott A/C

May 9 Return Out 14 May 1 Purchase 119

May 31 Bal:c/d 105

119 119

A.Simes A/C
May 4 Sales 188 May 7 Return In 12

May 31 Bal:c/d 176

188 188
 B.Lopex A/C
May 4 Sales 88 May 7 Return In 17

May 31 Bal:c/d 71

88 88

M.White A/C
May 15 Purchase 89

May 31 Bal:c/d 89
89 89

J.Wong
May 25 Return out
12 May 15 Purchase 67

May 31 Bal:c/d
55
67 67

M.Barrow A/C
May 19 Sale 970 May 30 Return 35

May 31 Bal:c/d
935
970 970

c.Transfer the total to the sales account and purchase account in the General Ledger

Sale A/C
May31 total
Amot1246

Purchase A/C
May31 total Amot 275
No.2 Three-Column Cash Book
Three column cash book for John 1st May 2017

John
Three Column Cash Book

Discount
Discouny Received
Date Particular Folio allowed$ Cash Bank Date Particular Folio $ Cash Bank
$ $ $ $ $ $
1- 2-
May Balanceb/d 905 5689 May Rent 120
5 F.Lake 500 10 Paid into Bank c 65
motor
8 Sales 980 18 expense 12
paid into
10 bank c 65
24 Withdrew c 350 23 Drawings 355
24 Withdrew c 350
26 H.Hanking 3 74 25 Fixtures 400
27 155 31 T.Briers 7 133

31 Balance c/d 1837 5446

3 2390 6328 7 2390 6328
1-Jun Balance 1837 5446
 b/d

Discount allowed A/C

May total 31 Amt3

Discount ReceivedA/C
May 31 total Amt 7

3.(a) Income Statement for the year ended 31st Dec 2017
$ $
Sale 45995
(-) Return inwards -34 45961
(-) cost of sale
opening stock 655
purchase
23562
(-) Return outwards 78 23484
(-) closing stock -6788 -17351
Gross Profit ------------------------------------------------------------------
-- 28610
Incomes _
(-) Expense 28610
Wages&salaries 87
telephone 67
bad debt 67
Rent 876
Carriage outward 765
Advertising 764
postage 3519 -6145
Net Profit 22465
b. Statement of Financial Position as at 31st Dec 2017
Non Current Asset
Fixtures & Fitting 788
Van 761 1549

Current Assets
Inventory 6788
Account Receivable 54
Bank 45667 52509
----------------------------------------------------------------------------------- 54058
(-) Current Libilities
A/C payables -73
Net Assets---------------------------------------------------------------------
- 53985
capaital 33998
(+)Net Profit 22465
(-)Drawings -2478
53985

No.4 Control Accounts

(i) Purchase Ledger Control Account

Balance b/d 1275 Balance b/d 56200
Return Out ward 2530 Credit purchase 62760
Cash paid 55780
Contra 3300
Discount received 600
Balance c/d 55955 Balance c/d 480
119440 119440

(ii) Sale Ledger Control Account

Balance b/d 84320 Balance b/d 1200
Carriage 200 Return inward 1060
Credit sales 85300 Bad debt 315
Discount allowed 870
Dishonoured
cheque 2400 Contra 3300
 Cash received 82370

Balance c/d 610 Balance c/d 83715

172830 172830

5. Aliya Trading and profit & loss account for the year ended 31 December 2016

A. Gross Profit margin

Gross profit × 100
Gross Profit margin =
𝑆𝑎𝑙𝑒𝑠
= (4160/84000) x 100
= 49.52%

B. Net Profit margin

Net Profit
𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑚𝑎𝑟𝑔𝑖𝑛 = ∗ 100
Sales

= (11600 /84000) x 100

= 13.81%

C. Current Ratio
 Current Assets
Current ratio =
Current Liabilities

26600
Current ratio =
7800

= 3.4:1

D. Liquidity ratio
Current Assets − stock
Liiquidity ratio =
Current Liabilities

26600 − 3600
Liquidity ratio =
7800

= 2.9:1

E. Rate of stock Turnover

Cost of good sold
Rate of stock turnover =
Avg Stock

42400
= (4000+36000)/2

= 11 times