Accounting Alpha Beta.
Autor: petery • March 25, 2019 • Exam • 366 Words (2 Pages) • 408 Views
Alpha Beta | |||||
General Ledger as at 31 December 2016 | |||||
Share Capital | |||||
31-Dec-16 | Balance c/d | € 50,000 | 01-Jan-16 | Bank | € 50,000 |
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| 01-Jan-17 | Balance b/d | € 50,000 | ||
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Bank | |||||
01-Jan-16 | Share Capital | € 50,000 | 01-Jan-16 | Rent | € 25,000 |
2016 | Debtors | € 132,000 | 2016 | Premises Tax | € 500 |
2016 | Cash Sales | € 35,000 | 2016 | Premises Tax | € 1,200 |
| 01-Jan-16 | Vehicle | € 12,000 | ||
| 2016 | Wages and Salaries | € 33,500 | ||
| 2016 | Purchases | € 12,000 | ||
| 2016 | Electricity | € 1,650 | ||
| 2016 | Creditors | € 121,000 | ||
| 2016 | Car Expense | € 9,400 | ||
| 31-Dec-16 | Balance c/d | € 750 | ||
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€ 217,000 | € 217,000 | ||||
01-Jan-17 | Balance b/d | € 750 | |||
Rent Expense | |||||
01-Jan-16 | Bank | € 20,000 | 01-Jan-16 | Profit & Loss | € 20,000 |
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€ 20,000 | € 20,000 | ||||
Rent Prepaid | |||||
01-Jan-16 | Bank | € 5,000 | |||
| 31-Dec-16 | Prepaid c/d | € 5,000 | ||
€ 5,000 | € 5,000 | ||||
01-Jan-17 | Prepaid b/d | € 5,000 | |||
Premises Tax | |||||
2016 | Bank | € 500 | 31-Dec-16 | Profit & Loss | € 1,700 |
2016 | Bank | € 1,200 | |||
€ 1,700 | € 1,700 | ||||
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Vechicles | |||||
01-Jan-16 | Bank | € 12,000 | 31-Dec-16 | Balance c/d | € 12,000 |
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€ 12,000 | € 12,000 | ||||
01-Jan-17 | Balance b/d | € 12,000 | |||
Wages & Salaries | |||||
2016 | Bank | € 33,500 | 31-Dec-16 | Profit & Loss | € 34,130 |
31-Dec-16 | Wages and Salaries Accrued | € 630 | |||
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€ 34,130 | € 34,130 | ||||
| 01-Jan-17 | Accrued b/d | € 630 | ||
Wages & Salaries Accrued | |||||
31-Dec-16 | Accrued c/d | € 630 | 31-Dec-16 | Wages & Salaries | € 630 |
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€ 630 | € 630 | ||||
| 01-Jan-17 | Accrued b/d | € 630 | ||
Electricity | |||||
2016 | Bank | € 1,650 | 31-Dec-16 | Profit & Loss | € 2,270 |
31-12-16 | Electricity Accrued | € 620 | |||
€ 2,270 | € 2,270 | ||||
| 01-Jan-17 | Accrued b/d | € 620 | ||
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Electricity Accrued | |||||
31-Dec-16 | Accrued c/d | € 620 | 31-Dec-16 | Electricity | € 620 |
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€ 620 | € 620 | ||||
| 01-Jan-17 | Accrued b/d | € 620 | ||
Purchases | |||||
2016 | Creditor | € 143,000 | 31-Dec-16 | Profit & Loss | € 155,000 |
2016 | Bank | € 12,000 | |||
€ 155,000 | € 155,000 | ||||
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Creditor | |||||
2016 | Bank | € 121,000 | 2016 | Purchases | € 143,000 |
31-12-16 | Balance c/d | € 22,000 | |||
€ 143,000 | € 143,000 | ||||
| 01-Jan-17 | Balance b/d | € 22,000 | ||
Sales | |||||
31-Dec-16 | Profit & Loss | € 187,000 | 2016 | Debtor | € 152,000 |
| 2016 | Bank | € 35,000 | ||
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€ 187,000 | € 187,000 | ||||
Debtor | |||||
31-Dec-16 | Sales | € 152,000 | 2016 | Bank | € 132,000 |
| 31-Dec-16 | Bad Debts | € 400 | ||
| 31-Dec-16 | Balance c/d | € 19,600 | ||
€ 152,000 | € 152,000 | ||||
01-Jan-17 | Balance b/d | € 19,600 | |||
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Motor Vehicle Expenses | |||||
2016 | Bank | € 9,400 | 31-Dec-16 | Profit & Loss | € 9,400 |
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€ 9,400 | € 9,400 | ||||
Bad Debts | |||||
31-Dec-16 | Debtor | € 400 | 31-Dec-16 | Profit & Loss | € 400 |
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€ 400 | € 400 | ||||
Accumulate Depreciation | |||||
31-Dec-16 | Balance c/d | € 2,500 | 31-Dec-16 | Depreciation | € 2,500 |
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€ 2,500 | € 2,500 | ||||
01-Jan-17 | Balance b/d | € 2,500 | |||
Depreciation | |||||
31-Dec-16 | Accumulate Depreciation | € 2,500 | 31-Dec-16 | Profit & Loss | € 2,500 |
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€ 2,500 | € 2,500 | ||||
Workings | |||||
Depreciation | |||||
Purchase | € 12,000.00 | ||||
Less Sales | € 2,000.00 | ||||
Nominal Value | € 10,000.00 | ||||
/4 years | |||||
Depreciation | € 2,500.00 | per year | |||
Inventory | |||||
Purchase | € 155,000.00 | ||||
Less - Cost of Sales | € 90,000.00 | Profit & Loss | |||
Closing Inventory | € 65,000.00 | Profit & Loss | |||
Alpha Beta | ||||
Tial Balance as at 31 December 2016 | ||||
Account Name | DR | CR | ||
Share Capital | € 50,000 | |||
Bank | € 750 | |||
Rent | € 20,000 | |||
Rent Prepaid | € 5,000 | |||
Premises Tax | € 1,700 | |||
Vehicle | € 12,000 | |||
Wages | € 34,130 | |||
Wages Accrued | € 630 | |||
Electricity | € 2,270 | |||
Electricity Accrued | € 620 | |||
Cost of Sales | € 90,000 | |||
Creditor | € 22,000 | |||
Sales | € 187,000 | |||
Debtor | € 19,600 | |||
Motor Vehicle | € 9,400 | |||
Bad Debts | € 400 | |||
Accumulate Depreciation | € 2,500 | |||
Depreciation | € 2,500 | |||
Inventory 31.12.2016 | € 65,000 | |||
€ 262,750 | € 262,750 | € 0 | ||
Alpha Beta | |||
Statement of Profit & Loss as at 31 December 2016 | |||
Sales | € 187,000 | ||
Less | Cost of goods sold | ||
Purchases | € 155,000 | ||
Less Closing Inventory | -€ 65,000 | -€ 90,000 | |
Gross Profit | € 97,000 | ||
Less Expenses | |||
Rent | € 20,000 | ||
Wages | € 34,130 | ||
Premises Tax | € 1,700 | ||
Vehicle | € 9,400 | ||
Electricity | € 2,270 | ||
Depreciation | € 2,500 | ||
Bad Depts | € 400 | € 70,400 | |
Net Profit | for the year ended 31 December 2016 | € 26,600 | |
Alpha Beta | ||
Statement of Financial Possition as at 31 December 2016 | ||
Non- current Assets | ||
Vehicle | € 12,000 | |
Less Accumulated Depreciation | -€ 2,500 | € 9,500 |
Current Assets | ||
Inventory | € 65,000 | |
Prepayments | € 5,000 | |
Debtor | € 19,600 | |
Bank | € 750 | € 90,350 |
Total Assets | € 99,850 | |
Current Liabilities | ||
Accruals | € 1,250 | |
Creditors | € 22,000 | |
Total Current Liabilities | € 23,250 | |
Non- Current Liabilities | € 0 | |
Total Liabilities | € 23,250 | |
Net Assets (Assets - Liabilities) | € 76,600 | |
Equity | ||
Capital | € 50,000 | |
Add : Net profit for the year | € 26,600 | |
€ 76,600 | ||
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