1 Dr. Cr.

£ £
Opening stock 14350
Purchases 114472
Sales 259688
Rates 13718
Heating & lighting 12540
Wages & salaries 42614
Motor vehicle expenses 5817
Advertising 6341
Premises 75000
Office equipment 33000
Motor vehicles 21500
Debtors 23854
Bank 1235
Cash 125
Capital 62500
Drawings 12358
Loan from bank 35000
Creditors 14258
Value Added Tax 5478
376924 376924
Note: Closing stock was valued at £16280
 Dr. Cr.
2 £ £
Debtors 18600
Creditors 11480
Value Added Tax 1870
Bank overdraf 4610
Capital 25250
Sales 144810
Purchases 96318
Opening stock 16010
Salaries 18465
heating & lighting 1820
Rent & rates 5647
Motor vehicles 9820
Office equipment 5500
Sundry expenses 845
Motor vehicles expenses 1684
Drawings 13311
Closing stock- trade & p and L 13735
Closing stock-B/S 13735
201755 201755
 Dr. Cr.
3 £ £
Capital 25000
Office equipment 30000
Income from clients 75450
Administration expenses 3280
Wages 37145
Rent paid 8052
Telephone 1287
Travel expenses 926
Rates 2355
Debtors 3698
Creditors 1074
Value Added Tax 2021
Bank 3971
Cash 241
Drawings 12590
103545 103545
 Dr. Cr.
4 £ £
premises at cost 120000
Depreciation(premises) 7200
long term loan 52800
Capital 70000
debtors 1900
creditors 1500
Drawings 6750
cash 150
opening stock 4200
fixtures & fittings 5000
Depreciation(fixtures & fittings) 1000
Vehicles 10000

depreciation(vehicles) 2000
bank(LOAN) 750
Sales 195000
Purchases 154000
wages 20500
sundry expenses 9500
VAT 1750
Closing stock- P & L a/c 5200

Closing stock-B/ 5200

337200 337200

Premises depreciate at 2%(straight line)

Vehicles & fixtures and fittings depreciate at 20%(straight line)

wages prepaid- 560 & sundry expenses- 500

 Dr. Cr.
5 £ £
Capital 38825
opening stock 18050
purchases 74280
Sales 149410
discounts 3210 1140
rent & rates 7280
returns 1645 875
cash 820
bank(LOAN) 13300
Debtors & Creditors 14375 8065
wages & salaries 43895
general expenses 2515
Motor vehicles 30000
Depreciation(motor vehicles) 7500
Fixtures & fittings 10000
Depreciation(fixtures & fittings) 3000

motor vehicle expenses 6725

drawings 12500
VAT 3180
225295 225295

rates prepaid 95
motor vehicles depreciate at 25%/year using reducing method
fixtures & fittings depreciate at 10%/year using straight line method
 Dr. Cr.
6 £ £
Capital 20932
Drawings 10000
Purchases 148500
Sales 210900
Repairs to buildings 848
Delivery Van 5000
Van expenses 1540
Land & Buildings 85000
Loan from bank 60000
Bank 540
Shop fittings 2560
Wages & salaries 30280
Discount allowed 135
Discount received 1319
Rates & Insurance 2690
Debtors 3175
creditors 8295
Heating & lighting 3164
General expenses 4680
Sales returns 855
Purchases returns 1221
Opening stock 6210
VAT 2510
Closing stock- Trading 7515
Closing stock- B/S 7515
312692 312692

Rates prepaid 255

Wages O/S 560
Van exp O/S 85
Drawings(goods) 200
7 £
Opening stock 70000
Purchases 280000
Sales 420000
Sales returns 6000
Purchases returns 4500
Discount received 750
Discount allowed 500
Electricity 13750
Salaries 35600
post & packing 1400
Premises 120000
fixtures & fittings 45000
debtors 55000
creditors 47000
Bank balance 5000
Capital 195000
Drawings 41000
VAT(AMT. due) 6000

Stock was valued at 60000

Goods worth 500 were damaged
Wyvern Insurance would cover the loss.
Electricity O/S 350
Salaries P.paid 400
 Trading and P & L a/c of Matt Smith as on 31 Dec

Particulars Amt(£) Amt(£)2

Sales 259688
(-) Cost of goods sold
Opening stock 14350
(+)Purchases 114472
(-) Closing stock 16280 112542

Gross Profit 147146

(-) Expenses
Rates 13718
Heating & lighting 12540
Motor vehicle expenses 5817
Wages & salaries 42614
Advertising 6341 81030

Net Profit 66116

 Trading and P & L a/c of Clare Lewis as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Sales 144810
(-) Cost of goods sold
Opening stock 16010
(+)Purchases 96318
(-)Closing stock 13735 98593

Gross Profit 46217

(-) Expenses
Salaries 18465
heating & lighting 1820
Rent & rates 5647
Sundry expenses 845
Motor vehicles expenses 1684 28461

Net Profit 17756

 Trading and P & L A/C of Jane Richardson as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Sales 75450
(-) Cost of goods sold
Opening stock 0
(+)Purchases 0
(-)Closing stock 0 0

Gross Profit 75450

(-) Expenses
Administration expenses 3280
Wages 37145
Rent paid 8052
Telephone 1287
Travel expenses 926
Rates 2355 53045

Net Profit 22405

 Trading and P & L a/c of Wintergreen supplies as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Sales
(-) Cost of goods sold
Opening stock 4200
(+)Purchases 154000
(-)Closing stock 5200

Gross Profit

(-) Expenses
Wages 20500
(-)P.paid 560 19940
Sundry expenses 9500
(+)O/S 500 10000
Depreciation
Premises 2400
Fixtures & fittings 1000
Motor vehicles 2000 5400

Net Profit
 Trading and P & L a/c of Cindy Smith as on 30 June '04

Particulars Amt(£) Amt(£)2

Sales 149410
(-) Returns 1645
(-) Cost of goods sold
Opening stock 18050
(+)Purchases 74280
(-) Returns 875 73405
(-)Closing stock 20145

Gross Profit

(-) Expenses
Discounts given 3210
Wages & salaries 43895

Motor vehicle expenses 6725

Rent & rates 7280
(-)Prepaid 95 7185
General expenses 2515
(+)O/S 175 2690
Depreciation
Motor vehicles 5625
Fixtures & fittings 1000 6625

(+) Income
Discounts received
Net Profit

Trading And P&L A/C of Cindy Hayward as on 30 June 2004

Particulars Amt(£) Amt(£)2

Sales 210900
(-) Returns 855

(-) Cost of goods sold

Opening stock 6210
(+)Purchases 148500
(-)Returns 1221 147279
(-)Closing stock 7515
(-)Drawings(Goods) 200

Gross Profit
(-) Expenses
General expenses 4680
Heating & lighting 3164
Rates & insurance 2690
(-) P.paid 255 2435
Discount allowed 135
Wages & salaries 30280
(+) O/S 560 30840
Repairs to buildings 848
Van Expenses 1540
(+) O/S 85 1625

(+) Income
Discount received

Net Profit
 Trading and P & L A/C of Southtown Supplies as on 31 Dec 2004

Particulars Amt(£) Amt(£)2

Sales 420000
(-) Returns 6000

(-) Cost fo goods sold

Opening stock 70000
(+) Purchases 280000
(-) Returns 4500 275500
(-) Closing stock 60000

Gross Profit

(-) Expenses
Discount allowed 500
Electricity 13750
(+) O/S 350 14100
Salaries 35600
(-) P.paid 400 35200
Post & packing 1400

(+) Income
Discount received 750
Insurance cover for loss of goods 500

Net Profit
Amt(£)3
195000

153000

42000
35340

6660
Amt(£)3

147765

71310

76455

70330

1140
 7265

June 2004

Amt(£)3

210045

145774

64271
43727

1319

21863
31 Dec 2004

Amt(£)3

414000

285500

128500

51200

1250

78550
 Balance Sheet of Matt Smith as on 31 Dec

Particulars Amt(£) Amt(£)2

Fixed Assets
Premises 75000
Office equipment 33000
Motor vehicles 21500 129500

Current Assets(A)
Cash 125
Bank 1235
Debtors 23854
Closing stock 16280
41494

Current Liabilities(B)
Creditors 14258
VAT 5478
19736

Working Capital(A-B) 21758

(-) Long term Liabilities

Loan from bank 35000

NET ASSETS 116258

Financed By:
Capital 62500
(+) Net Profit 66116
128616
(-) Drawings 12358
CAPITAL EMPLOYED 116258
 Balance Sheet of Clare Lewis as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Fixed Assets
Office equipment 5500
Motor vehicles 9820 15320

Current Assets (A)

Debtors 18600
Closing stock 13735
32335
Current Liabilities (B)
Creditors 11480
Bank overdraf 4610
VAT 1870
17960

Working Capital (A-B) 14375

(-) Long-term Liabilities 0

NET ASSETS 29695

Financed By:
Capital 25250
(+) Net Profit 17756
43006
(-) Drawings 13311
CAPITAL EMPLOYED 29695
 Balance Sheet of Jane Richardson as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Fixed Assets
Office equipment 30000

Current Assets (A)

Cash 241
Bank 3971
Debtors 3698
7910

Current Liabilities (B)

Creditors 1074
VAT 2021
3095

Working Capital (A-B) 4815

(-) Long term Liabilities 0

NET ASSETS 34815

Financed By:
Capital 25000
(+) Net Profit 22405
47405
(-)Drawings 12590
CAPITAL EMPLOYED 34815

Balance Sheet of Wintergreen supplies as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Fixed Assets
Premises 120000
(-)Provision for depreciation 7200
(-)Depreciation at 2%p.a 2400 110400

Fixtures & fittings 5000

(-)Provision for depreciation 1000
(-)Depreciation at 20%p.a 1000 3000

Motor vehicles 10000

(-)Provision for depreciation 2000
(-)Depreciation at 20%p.a 2000 6000
119400
Current Assets (A)
Cash 150
Debtors 1900
Closing stock 5200
Wages P.paid 560
7810
Current Liabilities (B)
Creditors 1500
VAT 1750
O/S Sundry expenses 500
Bank loan 750
4500
Working Capital (A-B) 3310

(-) Long term Liabilities

Long term Loan 52800

NET ASSETS 69910

Financed By:
Capital 70000
(+)Net Profit 6660
76660
(-)Drawings 6750
CAPITAL EMPLOYED 69910
Particulars Amt(£) Amt(£)2
Fixed Assets
Motor vehicles 30000
(-)Provision for depreciation 7500
(-)Depreciation at 25%p.a 5625 16875

Fixtures & fittings 10000

(-)Provision for depreciation 3000
(-)Depreciation at 10%p.a 1000 6000
22875
Current Assets (A)
Cash 820
Prepaid rates 95
Debtors 14375
Closing stock 20145
35435

Current Liabilities (B)

Bank(loan) 13300
Creditors 8065
O/S general expenses 175
VAT 3180
24720
Working Capital (A-B) 10715
(-)Long term Liabilities 0
NET ASSETS 33590

Financed By:
Capital 38825
(+)Net Profit 7265
46090
(-)Drawings 12500
CAPITAL EMPLOYED 33590

Balance Sheet of Cindy Hayward as on 30 June 2004

Particulars Amt(£) Amt(£)2

Fixed Assets
Land & buildings 85000
Delivery van 5000
Shop fittings 2560 92560
Current Assets (A)
Bank 540
Debtors 3175
Closing stock 7515
Rates P.paid 255
11485
Current Liabilities (B)
Creditors 8295
VAT 2510
Wages O/S 560
Van expenses O/S 85
11450
Working Capital (A-B) 35

(-) Long term Liabilities

Loan from bank 60000

NET ASSETS 32595

Financed By:
Capital 20932
(+)Net Profit 21863
42795
(-)Drawings 10000
(-)Drawings(goods) 200
CAPITAL EMPLOYED 32595
 Balance Sheet of Southtown Supplies as on 31 Dec '04

Particulars Amt(£) Amt(£)2

Fixed Assets
Premises 120000
Fixtures & Fittings 45000 165000

Current Assets (A)

Bank balance 5000
Debtors 55000
Closing Stock 60000
Salaries P.paid 400
Insurance cover for loss of goods 500
120900

Current Liabilities (B)

Creditors 47000
VAT 6000
Electricity O/S 350
53350

Working Capital (A-B) 67550

(-) Long Term Liabilities 0

NET ASSETS 232550

Financed By:
Capital 195000
(+) Net Profit 78550

(-) Drawings 41000

CAPITAL EMPLOYED 232550