From Cash Flow Statement | |
Total Cash Inflow | 860000 |
Total Cash Outflow | 782000 |
Cash From Trade Receivables | 450000 |
Rent Paid | 140000 |
Marketing Paid | 28000 |
Interest Paid | 27000 |
Trade Paybles Paid | 225000 |
From The Income Statement | |
Revenue | 650000 |
COGS | 187500 |
Gross Profit | 462500 |
Depreciation | 27500 |
Rent Exp | 105000 |
Distribution & Administration Exp | 80000 |
Provision for bad and doubtful debts | 20000 |
Net Profit/ Loss | 175000 |
From The Balance Sheet | |
Non Current Assets | 192500 |
Total Current Assets | 355500 |
Cash At Bank | 78000 |
Net Receivables | 180000 |
Total Equity | 360000 |
Total Non Current Liabilities | 150000 |
Total Current Liabilities | 38000 |
Working(Journal Entries)
Particulars | Amt |
Bank A/c Dr. | 260000 |
To Owners Capital A/c | 260000 |
Bank A/c Dr. | 150000 |
To Loan From Bank | 150000 |
Distribution & Admin Exp | 80000 |
To Bank A/c | 80000 |
Rent A/c Dr | 105000 |
Prepaid Rent A/c Dr | 35000 |
To Bank A/c | 140000 |
Fixed Aseet A/c Dr. | 220000 |
To Bank A/c | 220000 |
Marketing Exp | 28000 |
To Bank A/c | 15000 |
To Outsatnding Exp | 13000 |
Purchase A/c Dr | 250000 |
To Bank A/c | 225000 |
To Sundry Creditors A/c | 25000 |
Debtors A/c Dr | 650000 |
To Sales A/c | 650000 |
Bank A/c Dr. | 450000 |
To Debtors A/c | 450000 |
Bad Debt A/c Dr | 20000 |
To Provison For Bad Debt | 20000 |
Interest A/c Dr | 27000 |
To Bank A/c | 27000 |
Capital A/c Dr | 75000 |
To Bank A/c | 75000 |
Depreciation A/c Dr | 27500 |
To Fixed Asset A/c | 27500 |
On the 1st January in Year 1, an unlimited liability business called AFB commenced business life....
2) On 1 January 2005 there was a balance of $1000 in the provision for doubtful debts account, and it was decided to maintain the provision at 10% of the debtors at each year end. The debtors on 31 December each year were: • 2005=24,000 • 2006=16,000 • 2007=16,000 Show the necessary entries for the three years ended 31 December 2005 to 2007 inclusive in the following: 1) Provision for doubtful debts accounts (ii) Profit & loss accounts. (2b) What...
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Sheila is a sole trader. She pays all the sales receipts into the business bank account. She provided her accountant with the following information for the year ended 31 December 2018 Bank account summary for the year ended 31 December 2018 DR Rent received 16 600 / Trade receivables 204 200 / Cash sales 19 510 CR Balance b/d 6 520 / Trade payables 123 460 / General expenses 24 000 / Wages 31 560 / Motor vehicles 18 200 / Equipment ...
1)The accounts for the year ending 30 November 2016 of Human Inc included a provision for doubtful debts at that date of $1800. During the year ending 30 November 2017, the company received $1000 from Michael towards the settlement of a debt of $1400, which had been written off as irrecoverable by the company in 2015. There is no evidence that Michael will be able to make further payments to the company. Trade debtors at 30 November 2017 amounted to...