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.

 

Required:

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
Weighted Average Method This way is a perpetual weighted average system whereas the issue price is recalculated after one of receipt of stocks taking into accounts both money

We've all experienced (or heard about) the challenges that the airlines have been facing. Read the Zacks Investment Research article, "Airline Industry Stock Outlook - August 2012"

Under what conditions is a market-based transfer price optimal?

Mandy Building Contractors Ltd signed a fixed-price contract to build a bridge for Nelly Ltd for $110 million on 1 July 2012.  Contract costs are estimated as follows:

formula for economic order quantity

A manufacturing company wants to package its product in a rectangular box with a square base and a volume of 32 cubic inches. The cost of the material used for the top is $.05 squa


CVP for Multiple Products What number of businesses sells only one manufactured goods? The reality is that firms usually give us the diverse product line, and the individual pr

Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr

The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm’s output is $25. The cost of other va