Question One Statement of Affairs Disposal Account
Question One Statement of Affairs Disposal Account
Question One Statement of Affairs Disposal Account
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Subscription account
Date Details f Dr Cr
Balance b/d 30
Arrears 20
Cash 900
Income and expenditure 910
Balance c/d 25 45
965 965
Income
Subscription 910
Annual dinner 250
Sales of old furniture ( 45 – 30) 15
Donation 60
Net profit 450
1615
Less: Expenditure
Wages (360 – 120) 240
Insurance 160
Rent and Rates 420
Stationery 120
Sundry expenses 65
Annual dinner expenses 130
Depreciation 178
(1323)
Surplus of income over expenditure 292
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Balance sheet as at 31 Dec 20
Financed by
Add: Accumulated fund 850
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QUESTION TWO;
SKM AND JKK
Trading and Profit And Loss Account For the Year 31th December 2013
K K K
Sales 28,000
Less Sales Returns 80
27,920
Less Expenses 40
Carriage In Wards 50
Bad Debts 400
Rents And Rents 1,400
Salaries 140
Insurance 3,000
Wages (2600+ 400) 550
Increases For Bidets 100
Discount Allowed 110
Officer Expenses 450
Depreciation 6,240
5,000
Total Of Expenses
Net Profit
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Share Of Profits 1,950
1,950
SKM 3,900
JKK
SKM JKK
DETAILS DR CR DETAILS DR CR
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Balance Sheet As At 31th December 2013
COST DEP VALUE
Premises 6,000 6,000
Fixtures And Fitting 4,500 450 4,050
10500 450 10,050
Current Assents
Bank 700
Daters 7,200
Closing Stocks 2,800
10,700
Payables 5,000
Accursed 400
5,400
5,300
15,350
Financed ByCapital
SKM 6,000
JKK 6,000 12,000
Current Account Balance
SKM 1,850
IKK 1,850
3,350
15,350
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QUESTION THREE;
SKM
Manufactured trading and profit and loss account for the year 30th December 2012
k k k
Opening stocks of raw material 34,760
Add purchases of raw material 396,300
Carriage of raw material 1,200
397,500
Total stocks of raw material available 432,260
Less closing stocks 47,290
640,380
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Sales 798,200
Less returns 6,400
791,800
Less experiences;
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SKM
BALANCE SHEET AS AT 31TH DECEMBER 2012
COST DEP VALUE
Non current assets;
Bank 2,050
Raw material 47,290
Work progress 4,670
Finished goods 9,200
Debtors 82,663
Prepaid officer 150
146,023
Less current liabilities;
Creditors
Accrued 64,160
200
64,360
81,663
Financed by; 209,083
Capital
Add net profit 132,160
89,823
Less drawing ( 12,300 + 600 ) 221,983
12,900
209,083
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QUESTION FOUR;
SKM
Trading and profit and loss and appropriation for ended 31st march 2007
Dr Cr
Sales 2000,000
Less Cost Of Sales;
80,000
Opening Stock 542,000
Purchases 622,000
122
Less Closing Stock 621,878
Cost Of Sales 1,378,122
Gross Profit
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SKM
Balance sheet as at 31st march 2007
COST DEP VALUE
Noncurrent assets 616,000 231,600 384,400
Currents assets
Stocks 122
Receivables 988,00
Cash at bank 82,000
180,922
565322
Total assets
Capital;
200000
Ordinary shares capital 40,000
Share premium accounts 1,099,422
Accumulated profit 1,339,422
150,000
Noncurrent assets 76,000
Current assets 62,400
Tax 30,000
Dividend ( 6000 + 24,000) 13,500
Debenture 181900
Total of liabilities 1,007,522
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