Draw up a pro-forma combined cash and bank account

Assignment Help Financial Accounting
Reference no: EM13496542

At the end of 2011, the following information is availabk Igse Topsanah's business.

 


2010

2011

 

 

£

Non-current assets at valuation

55,000

50,000

Inventory

182,000

182,500

Cash at bank

16,750

51,150

Cash in hand

1,120

2,500

Receivables

290,200

287,340

Payables

123,400

128,475

Accruals (rent)

1,200

1,450

Prepayments (rates)

3,450

2,300

Cash movements during 2011

 

£

Cash received from customers

23,340

Cash paid for sundry expenses

17,250

Cash paid to suppliers

22,230

Bank movements during 2011

Received from customers

877,800

Bank loan

10,000

Cash withdrawn from the bank

22,000

Paid to suppliers

650,520

Paid for rent

40,000

Paid for rates

38,750

Drawings

40,000

Sundry expenses

62,130

Draw up a pro-forma combined cash and bank account, receivables and payables control accounts and all other T-accounts as required for Topsanah for the year ended 31 december 2011.

Reference no: EM13496542

Questions Cloud

Explain a buffer is prepared by mixing 184 ml of hcl : A buffer is prepared by mixing 184 mL of 0.442 M HCl and 0.500 L of 0.400 M sodium acetate
What is the mechanical energy of the satellite : A satellite of mass 240 kg is in a circular orbit of radius 8.68 x106 m around a planet. If the period is 9030 s, what is the mechanical energy of the satellite
Explain the stronger bonding between the two atoms : Using molecular orbital analysis, predict which species of the following pairs would have the stronger bonding between the two atoms
How much work do the students do on the car : Together, two students exert a force of 640 N in pushing a car a distance of 30 m. How much work do the students do on the car
Draw up a pro-forma combined cash and bank account : Draw up a pro-forma combined cash and bank account, receivables and payables control accounts and all other T-accounts as required for Topsanah for the year ended 31 december 2011.
Explain how many moles of h2 gas should be taken up : how many moles of H2 gas should be taken up by 1-octene in course of this reaction. What volume does this correspond to at STP.
What would be the expected return for a self-financing : Rank all six firms by their market values. How does this ranking order the cost of capital? What would be the expected return for a self-financing portfolio that went long on the firm with the largest market value and shorted the firm with the lowest..
Determine the net work done on the cart : A 4kg cart is initially moving at 3m/s on a frictionless track. It then hits an incline and stops 2m later. what is the net work done on the cart
Explain what''s more significant an affect on atomic size : What's more significant an affect on atomic size, an increase in nuclear charge or increase in occupied energy levels within a group

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine amount received by morgan as a final distribution

Prior to liquidating their partnership, Morgan and Chow had capital accounts of $32,000 and $60,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership ass..

  Prepare journal entries for each of the foregoing events

Prepare journal entries for each of the foregoing events that affected the Local Improvement District Fund

  Prepare a report that shows effect on company total income

Prepare a report that shows effect on the company's total net operating income of buying part F77 from the supplier rather than continuing to make it inside the company.

  What is total cash outflow

what is total cash outflow through maturity total borrowing cost over life if bond interest expense for the year amortization for the year unamortized premies as of december bond carrying value as of december

  Compute the cost per equivalent unit for materials

The units in ending Work in Process were 85 percent complete with respect to materials and 45 percent complete with respect to conversion costs. Compute the cost per equivalent unit for materials and conversion costs.

  Illustrate at what price was the bond issued

The bond pays interest twice per year, on June 30 and December 31. Illustrate at what price was the bond issued?

  Computation of machine hour overhead rate and product

computation of machine hour overhead rate and product cost.cabigas company manufactures two products product c and

  Explain how much interest should she include in gross income

The son quit school after one semester and Klemm used the remaining money to buy her son a car. If Klemm's AGI is $25,000, explain how much interest should she include in gross income?

  Evaluation of adjusted contract price

Given base index and index at delivery, evaluation of adjusted contract price. Given the following contract information, calculate the adjusted contract price

  Would you recommend that the new labor mix be continued

In the past, the 10 persons employed in the production of Fruta consisted of 4 senior workers and 6 assistants. During June, the company experimented with 5 senior workers and 5 assistants. Would you recommend that the new labor mix be continued?

  Section of the statement of cash flows

The total amount reported in the cash flows from investing activities section of the statement of cash flows

  What percentage interest in pool is held by school district

What percentage interest in pool is held by the school district and the township? Show the entry into the Investment Trust Fund to record the liability to the funds for interest earned on pooled investments.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd