Income and expenditure account, Cost Accounting

The following is a summary of a cash book for the year ended 31 April 2012

Payments                              $              Receipts                                    $

Rent                                      625         bar sales                                    583

Rates                                     200         entrance fees                             60

Lighting                                  182         Members subscriptions                2, 220

Wages                                    760         Donations                                  350        

Printing and stationery             126

General expenses                    79

Creditors for bar purchases      430

Improvements to club house     388

Repairs                                   310


Additional information available from the records is as follows

                                                                                              31 April 2011       31April 2012

                                                                                               $                              $

Creditors for- wines and spirits                                                  190                         130

                            Printing                                                        12                           16

                            Wages                                                         27                           38

                            Lighting                                                        21                           37

                            Arrears of subscriptions                                89                           97

                            Subscriptions Paid in Advance                       45                           38

                            Bar Stock                                                    148                         123

                            Cash in hand                                               60                           72                         

                            Cash at bank                                                210

                            Premises                                                     7, 500

                            Fittings (net of depreciation)                          1, 740


Depreciation on fittings is to be provided at 10% on reducing balance.



a)      A combined cash/bank account for the year ended 31st April 2012 and

b)      An income and expenditure account for the year ended 31st April 2012, and  a statement of financial position as at that date.


Posted Date: 2/25/2013 12:41:31 AM | Location : United States

Related Discussions:- Income and expenditure account, Assignment Help, Ask Question on Income and expenditure account, Get Answer, Expert's Help, Income and expenditure account Discussions

Write discussion on Income and expenditure account
Your posts are moderated
Related Questions
Calculate the today's cash value of a car that can be leased with $5000 down, bi-weekly payments of $199 over 4 years and a buy-back value of $15,000 at the end of the lease if the

There are different activities undertaken through a business that prove to be either source or use of cash. These can be categorizes under three broad categories that are: investin

Margin of safety Measures the sensitivity of budgeted sales volume compared with break-even sales volume. The difference between level of sales activity achieved and level of s

The file A1Q1 contains data for the percentage change in the price of 50 shares selected at random from the Australian Stock Exchange. The data refer to the percentage change in th

The credit term from the supplier is 2/30, net 60. Requirements: Write the calculation Determine the effective annual rate if the firm does not take the discount.

Presented here is the basic financial information from the 2009 annual reports of Intel and Advanced Micro Devces (AMD), the two primary manufacturers of silicon chips for personal

XYZ Inc. plans to raise $5,000,000 external financing through issuing bonds, and is considering two options: regular bonds and zero couple bonds.  The regular bonds will have coupo

The next year's budget for Benny, Inc., is given below: Product 1-2 Sales $945,000-688500 Variable costs 459,900-297,000 Fixed costs 300,000-3

Bebe, a manufacturer of sophisticated and fashionable women's clothing, is completing a new assembly plant in Malaysia.  A final construction payment of 6,000,000 MY

ANALYSIS OF VARIANCE When the actual are not similar from the standards, variance exists. Variance may be unfavorable or favorable. When the actual cost is more than the standa