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
Inventory, Supplies and Prepaid Expenses You can well understand the requirements for carrying inventory. So as to  carry  on operations unhindered we require to have sufficien

What are the factors affecting working capital requirements

what is cost audit? types of cost audit explain

A machine costing $210,400 with a four-year life and an estimated $20,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the mac

Q. 1. The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $1,300 During the year 201

Time Keeping - Cost Accumulation A labour cost control routine should ensure that payments are paid only to employees who have spent time at the work place and that payments a

Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced

The vice president of operations of six layer computer Inc. is evaluating the performance of two divisions organized as investments centers. Invested assets and condensed income st

what are importance of cost classification

In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors