Date

02/10/20X1

05/10/20X1

06/10/20X1

11/10/20X1

23/10/20X1

30/10/20X1

4/11/20X1

11/11/20X1

12/11/20X1

19/11/20X1

24/11/20X1

30/11/20X1

1/12/20X1

2/12/20X1

12/12/20X1

19/12/20X1

24/12/20X1

27/12/20X1

30/12/20X1

30/12/20X1

31/12/20X1

7/1/20X2

8/1/20X2

9/1/20X2

22/1/20X2

26/1/20X2

30/1/20X2

30/1/20X2

1/2/20X2

7/2/20X2

7/2/20X2

10/2/20X2

17/2/20X2

22/2/20X2

28/2/20X2

28/2/20X2

3/3/20X2

7/3/20X2

8/3/20X2

10/3/20X2

11/3/20X2

16/3/20X2

25/3/20X2

26/3/20X2

30/3/20X2

30/3/20X2

7/4/20X2

8/4/20X2

17/4/20X2

19/4/20X2

20/4/20X2

25/4/20X2

28/4/20X2

30/4/20X2

30/4/20X2

7/5/20X2

12/5/20X2

17/5/20X2

19/5/20X2

20/5/20X2

23/5/20X2

30/5/20X2

31/5/20X2

2/6/20X2

3/6/20X2

9/6/20X2

17/6/20X2

20/6/20X2

22/6/20X2

29/6/20X2

30/6/20X2

30/6/20X2

2/7/20X2

3/7/20X2

13/7/20X2

14/7/20X2

19/7/20X2

24/7/20X2

30/7/20X2

31/7/20X2

3/8/20X2

7/8/20X2

10/8/20X2

11/8/20X2

20/8/20X2

21/8/20X2

26/8/20X2

29/8/20X2

30/8/20X2

30/8/20X2

1/9/20X2

3/9/20X2

6/9/20X2

7/9/20X2

9/9/20X2

13/9/20X2

14/9/20X2

16/9/20X2

19/9/20X2

20/9/20X2

21/9/20X2

22/9/20X2

23/9/20X2

30/9/20X2

30/9/20X2

30/9/20X2

Details
Murphy
Sales
Sold goods on credit
Hulgerstein
Sales
Sold goods on credit
Purchases
Cronin
Purchased goods on credit
Stationery, postage, and telephone
Petty cash
Paid for stationery by petty cash
Bank
Foley
Received and lodged to bank money outstanding from Foley
Wages
Bank
Paid employee`s wages by direct debit
Cronin
Returns Outwards
Returned goods purchased from Cronin
Foley
Sales
Sold goods on credit
Williams
Sales
Sold goods on credit
Lighting and heating expenses
Bank (cheque No.23985)
Petty Cash
Bank (cheque No. 23986)
Paid for light, heat and petty cash by cheques No.23985 and No. 23986
Purchases
Broderick
Bought goods o credit
Wages
Bank
Paid employee`s wages by direct debit
Returns Inwards
Murphy (credit note No. 14)
Murphy returned goods to us, credit note 14 was issued for him.
Bank
Discount allowed
Hulgerstein
Received and lodged amount owing from Hulgerstein less 5% discount
Bank

Discount allowed
Murphy
Received 13,000 from Murphy with allowance of 650 discount
Cronin
Bank (cheque No. 23987)
Discount received
Paid cheque No. 23987 to Cronin less 1,500 discount
Bank
Discount allowed
Williams
Received 13,000 from William with allowance of 750 discount
VAT
Bank
Paid VAT outstanding from previous year by direct debit
Prepaid Insurance Motor
Bank (cheque No. 23988)
Paid motor insurance to cover the following 6 months by cheque No. 23988
Wages
Bank
Paid employee`s wages by direct debit
Postage expense
Petty cash
Stationery
Petty cash
Paid for stationery and postage from petty cash
Foley
Sales
Doolan
Sales
Sold goods on credit
Bank
Sales
Lodged cash sales
Purchases
Broderick
Bought goods o credit
Return Inwards
Foley(credit note No. 15)
Foley returned goods to us, credit note 15 was issued for him.
Bank
Murphy
Murphy lodged the amount outstanding on his account
Rent expense
Bank (cheque No. 23989)
Paid rent due for 12 months from 1 February 20X0
Wages
Bank
Paid employee`s wages by direct debit

Bank
Discount allowed
Foley
Received and lodged all money due from Foley with allowance of 400 discount
Doolan
Sales
Sold goods on credit
Motor delivery expenses
Bank (cheque No. 23990)
Paid motor expenses by cheque No. 23990
Williams
Sales
Sold goods on credit
Purchases
Cronin
Bought goods o credit
Cronin
Returns Outwards
Returned goods to Cronin
Postage expense
Petty cash
Stationery
Petty cash
Paid for stationery and postage from petty cash
Wages
Bank
Paid employee`s wages by direct debit
Doyle
Sales
Sold goods on credit
O`Haire
Sales
Sold goods on credit
Broderick
Bank (cheque No. 23991)
Paid to Broderick for goods previously purchased by cheque No. 23991
Purchases
Broderick
Bought goods on credit
Cronin
Bank (cheque No. 23992)
Discount received
Paid cheque No. 23992 to Cronin less 2,000 discount
Lighting and heating expenses
Bank (cheque No.23993)
Paid for light, heat by cheque No.23993
Bank
Williams

Williams lodged 18,000 into bank account

Advertising expenses
Bank (cheque No. 23994)
Paid for advertising by cheque No. 23994
Wages
Bank
Paid employee`s wages by direct debit
Bad debt
Doyle
Received letter from Doyle`s accountant that Doyle is probably will not able to settle his debt.
Motor tax
Bank (cheque No. 23995)
Paid motor tax by cheque No. 23995
Motor delivery repairs expenses
Bank (cheque No. 23996)
Paid to cover delivery van repairs by cheque No. 23996
Brennan
Sales
Sold goods on credit
Purchases
Cronin
Bought goods on credit
Hulgerstein
Sales
Sold goods on credit
Cronin
Bank (cheque No. 23997)
Discount received
Paid cheque No. 23997 to Cronin less 800 discount
Williams
Sales
Sold goods on credit
Wages
Bank
Paid employee`s wages by direct debit
Postage expense
Petty cash
Paid for postage by petty cash
Kelly
Sales
Sold goods on credit
Bank
Bad debt - Doyle
Received and lodged 1,000 from Doyle
Returns Inwards
Kelly
Kelly returned damaged goods
Bank

Discount allowed
Hulgerstein
Hulgerstein paid 20,000 his account with allowance of 500 discount
Purchases
Sabura
Purchased goods on credit
Bank
Discount allowed
Brenan
Received full settlement and lodged from Brennan with allowance of 100 discount
Wages
Bank
Paid employee`s wages by direct debit
Postage expense
Petty cash
Stationery
Petty cash
Paid for stationery and postage from petty cash
O`Haire
Sales
Sold goods on credit
Purchases
Broderick
Bought goods o credit
Purchases
Cronin
Purchased goods on credit
Bank
Sales
Lodged cash sales
Hulgerstein
Sales
Sold goods on credit
Broderick
Bank (cheque No. 23998)
Discount received
Paid cheque No. 23998 to Broderick less 300 discount
Motor and delivery expenses
Bank (cheque No. 23999)
Paid motor and delivery expenses by cheque No. 23999
Bank
Williams
Williams settled his account
Wages
Bank
Paid employee`s wages by direct debit
O`Haire
Sales

Sold goods on credit

Petty cash
Bank (cheque No. 240000)
Paid cheque No. 24000 to petty cash
Returns Inwards
O`Haire
O`Haire returned goods
Bank
Discount allowed
O`Haire
Received full settlement and lodged from O`Haire with allowance of 450 discount
Doolan
Sales
Sold goods on credit
Bank
Discount allowed
Hulgerstein
Received full settlement and lodged from Hulgerstein with allowance of 450 discount
Wages
Bank
Paid employee`s wages by direct debit
Insurance Motor
Bank (cheque No. 24001)
Paid motor insurance to cover the following 3 months by cheque No. 240001
Purchases
Cronin
Purchased goods on credit
Cronin
Returns Outwards
Returned goods to Cronin
Baralux Ltd.
Sales
Sold goods on credit
Bank
Sales
Lodged cash sales
Telephone expenses
Bank (cheque No. 24002)
Paid telephone bill by cheque No. 24002
O` Haire
Sales
Sold goods on credit
Doolan
Sales
Sold goods on credit
Cronin
Bank (cheque No. 24003)
Discount received

Paid cheque No. 24003 to Cronin less 250 discount

Bank
Discount allowed
Doolan
Received 13,000 from Doolan with allowance of 750 discount
Returns Inwards
Doolan
Doolan returned goods to us
Wages
Bank
Paid employee`s wages by direct debit
Purchases
Slatery
Purchased goods on credit
O`Haire
Sales
Sold goods on credit
Bank
Discount allowed
O`Haire
Received full settlement and lodged from O`Haire with allowance of 100 discount
Lighting and heating expenses
Bank (cheque No.24004)
Paid for light, heat by cheque No.24004
Murphy
Sales
Doolan
Sales
Sold goods on credit
Bank
Sales
Lodged cash sales
Bank
Discount allowed
Baralux Ltd
Baralux Ltd paid its account with allowance of 1000 discount
O`Sulivan
Sales
Sold goods on credit
Bank
Discount allowed
O`Sulivan
O`Sulivan paid its account with allowance of 200 discount
Bank
Discount allowed
Murphy
Received and lodged money from Murphy with allowance of 100 discount
Cronin

Bank (cheque No. 24005)

Paid cheque No. 24005 to Cronin
Slatery
Bank (cheque No. 24006)
Discount received
Paid Slatery by cheque No. 24006 less 100 discount
Bank
Sales
Lodged cash sales
Purchases
Slatery
Purchased goods on credit
Postage expense
Petty cash
Stationery
Petty cash
Bank
Delivery vans
Received and lodged money from J. Cunningham for sold delivery van
Wages
Bank
Paid employee`s wages by direct debit

Dr

Cr

5000
5000
20000
20000
53750
53750
70
70
12000
12000
8000
8000
10250
10250
5000
5000
15000
15000
1450
1450
600
600
21250
21250
8000
8000
1000
1000
19000
1000
20000
13000

650
13650
43500
42000
1500
13000
750
13750
2400
2400
2400
2400
8000
8000
27
27
350
350
4000
4000
4000
4000
24500
24500
31500
31500
1000
1000
2350
2350
8000
8000
8000
8000

7600
400
8000
3000
3000
5300
5300
20000
20000
37500
37500
3000
3000
80
80
200
200
8000
8000
8000
8000
11000
11000
36750
36750
21000
21000
35200
33200
2000
4350
4350
18000
18000

3500
3500
8000
8000
8000
8000
1000
1000
900
900
17000
17000
13000
13000
25000
25000
15800
15000
800
50000
50000
8000
8000
12
12
4000
4000
1000
1000
2000
2000
20000

500
20500
2000
2000
16900
100
17000
8000
8000
12
12
50
50
25000
25000
13000
13000
15750
15750
14000
14000
10000
10000
54000
53650
350
3500
3500
53250
53250
8000
8000
17000
17000

300
300
1000
1000
51550
450
52000
11000
11000
14050
450
14500
8000
8000
2400
2400
19000
19000
6000
6000
50000
50000
6000
6000
4500
4500
5000
5000
4000
4000
26250
26000
250

12000
500
12500
100
100
8000
8000
20000
20000
6000
6000
5900
100
6000
2528
2528
6000
6000
3000
3000
4900
4900
35000
1000
36000
3000
3000
2500
200
2700
4000
100
4100
9000

9000
2600
2500
100
2450
2450
26000
26000
35
35
42
42
5500
5500
8000
8000
1364856

1364856

Sales
2011
October
November

2
5
11
12

2012
January

February
March
April

May
June

July
August

September

October

7
8
7
10
3
7
17
20
28
7
2
17
20
2
19
10
11
20
21
3
9
13
16
22
1

Trade Receivables
Murphy
2011
October

1 Balance b/d
2 Sales

2011
12000 December
5000

1
12

2012
September

9 Sales

6000

2012
January
September

26
20

September

30

October

1 Balance b/d

23000
1900

5 Sales

Hulgerstein
2011
20000 December

2011
October

2012
April
June

20 Sales
20 Sales

25000
10000 May

2012
19

July

24

Foley
2011
October
November

2011
1 Balance b/d
11 Sales

2012
January

7 Sales

12000 October
5000
2012
January
4000 February

23
22
1

Williams
2011
November

12 Sales

2011
15000 December

24

20000
50000 March
June

25
30

2012
February
April

10 Sales
28 Sales

2012

Doolan
2012
January
February
July
August
September

2012
7 Sales
7 Sales
19 Sales
21 Sales
9 Sales

October

1 Balance b/d

4000 August
3000
11000
4000
3000
September
25000
12400

26
30

30

Doyle
2012
March

2012
3 Sales

8000 March

30

O`Haire
2012
March
June

2012
7 Sales
2 Sales

11000 July
25000

13

July
September

2 Sales
3 Sales

17000
6000 September

14
6

Kelly
2012

2012

May

7 Sales

October

1 Balance b/d

4000 May
September
4000
2000

17
30

Brennan
2012
April

2012
17 Sales

17000 May

10 Baralux Ltd.

Baralux Ltd.
2012
50000 September

2012
August

October

1 Balance b/d

2012
September

16 O`Sulivan

23

14
30

50000
14000
O`Sulivan
2012
3000 September

19
30

October

1 Balance b/d

3000
300
Purchases

2011
October
November

16 Cronin
24 Broderick

53750
21250

2012
January
February
March
April
May
June
August
September
October

9 Broderick
17 Cronin
10 Broderick
19 Cronin
20 Sabura
3 Broderick
9 Cronin
3 Cronin
1 Slatery
23 Slatery
1 Balance b/d

31500
37500
21000
13000
2000
13000
15750
19000
20000
26000
273750

Trade Payables
Cronin
2011
November
December

2011
4 Return Outwards
19 Bank (cheque No. 23987)
Discount received

2012
February
March

22 Return Outwards
11 Bank (cheque No. 23992)
Discount received
25 Bank (cheque No. 23997)
Discount received
7 Return Outwards
26 Bank (cheque No. 24003)
Discount received
21 Bank (cheque No. 24005)
30 Balance c/d

April
August

September

2012
March
June

8 Bank (cheque No. 23991)

22 Bank (cheque No. 23998)
Discount received

10250 October
42000
1500
2012
February
3000 April
33200 June
2000 August
15000
800
6000
26000
250
9000
1000
150000
October
Broderick
2011
36750 October
53650 November
350
2012
January
March
June
90750

1
6
17
19
9
3

1
24
9
10
3

Sabura
2012
May
October

20
1

Slatery
2012
September

22 Bank (cheque No. 24006)

Discount received
30 Balance c/d

2012
2500 September
100
43400
46000
October

1
23

Bank
2011
October

2011
1 Balance b/d

35550 October

30

December

23 Foley

12000 November

19

2 Hulgerstein
12 Murphy

19000
13000

30

24 Williams

13000 December

19
27

8 Sales
26 Murphy

24500
2350

30

2012
January

2012
February
March

1 Foley
25 Williams

7600 January
18000

30

May

12 Bad debt - Doyle

19 Hulgerstein

1000 February
20000

7
28

23 Brenan

16900 March

17 Sales

14000

11

30 Williams

53250

16

July

14 O`Haire
24 Hulgerstein

52000
14050

26
30

August

11 Sales

June

September

6000 April

26 Doolan

12000

6 O`Haire
13 Sales
14 Baralux Ltd

10450
4900
35000 May

25
30
30

19 O`Sulivan

2500 June

22

20 Murphy
22 Sales

4000
2450

29
30

5500 July

3
30

30 Delivery van

31
August

20

26
30
September

7
21
22
30

October

1 Balance b/d

2011
October

1 Balance b/d
Bank
19 (cheque No. 23986)

November

399000
41772
Petty cash
2011
October
130 December
600

2012

2012
Bank
3 (cheque No. 240000)

July

October

11
31

1 Balance b/d

300 February

28

April
May

30
31

September

30

1030
152

Administration expenses

Stationery, postage, and tele

2011
11 Petty
December
31 Petty
Petty
2012
Petty
February
28 Petty
Petty
April
30 Petty
May
31 Petty
Petty
August
September

cash
cash
cash
cash
cash
cash
cash
cash
cash

Bank
20 (cheque No. 240002)
30 Petty cash

70 October
27
350
80
200
12
12
50
4500
35

Petty cash
October

1 Balance b/d

42 September
5378
5248
Light and heat
2011

2011
November

30

Bank
19 (cheque No.23985)

1450 October

Bank
16 (cheque No.23993)

4350

Bank
7 (cheque No.24004)

2528

2012
March
September

September
October

1 Balance b/d

8328
8228
Rent

2011
October

1 Balance b/d

2000

2012
Bank
30 (cheque No. 23989)
1 Balance b/d

January
October

8000
10000

Selling and distribution expenses

Motor delivery expenses
2011
October

1 Balance b/d

600

2012
Bank
29 (cheque No. 23999)
1 Balance b/d

June
October

3500
4100
Motor expense

2012
February

Bank
7 (cheque No. 23990)

5300

Motor repairs expenses

April

Bank
8 (cheque No. 23996)

900

Prepaid Insurance - Motor

30

2011

2012

December

Bank
30 (cheque No. 23988)

July

Bank
31 (cheque No. 24001)

October

1 Balance b/d

2400 January
February
March
April
May
June

30
28
31
30
31
30

2400 August
September
September
4800
800

30
30
30

Insurance expense - Motor

2012
Jan 30
Feb 28
March 31
April 30
May 31
June 30
Aug 30
30-Sep
October

Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
Prepaid Insurance
1 Balance b/d

Motor
Motor
Motor
Motor
Motor
Motor
Motor
Motor

400
400
400
400
400
400
800
800
4,000

Motor tax
2012
Bank
7 (cheque No. 23995)
1 Balance b/d

April
October

1000
1000
Advertising expenses

2012
Bank
26 (cheque No. 23994)
1 Balance b/d

March
October

3500
3500
Wages

2011
October
November
December

30 Bank
30 Bank
30 Bank

8000
8000
8000

30 Bank
28 Bank

8000
8000

2012
January
February

March
April
May
June
July
August
September
October

30 Bank
30 Bank
30 Bank
30 Bank
30 Bank
30 Bank
30 Bank
1 Balance b/d

8000
8000
8000
8000
8000
8000
8000
96000
VAT

2011
December

2011
27 Bank

2400 October

Bad debt
2012
March

2012
30 Doyle

October

1 Balance b/d

8000 May
September
8000
7000

12
30

Returns Outwards
2011
November
2012
February
August
October

Returns Inwards
2011
December

Murphy
1 (credit note No. 14)

1000

Foley
22 (credit note No. 15)
17 Kelly
13 O`Haire
30 Doolan
1 Balance b/d

1000
2000
1000
100
5100

2012
January
May
July
August
October

Discount allowed
2011
December

2 Hulgerstein
12 Murphy
24 Williams
2012

1000
650
750

4
22
7
1

February
May

1 Foley
19 Hulgerstein
23 Brenan
14 O`Haire
24 Hulgerstein
26 Doolan
6 O`Haire
14 Baralux Ltd
19 O`Sulivan
20 Murphy
1 Balance b/d

July
August
September

October

400
500
100
450
450
500
100
1000
200
100
6200
Discount received
2011
December
2012
March
April
June
August
September
October

2011
October

1 Balance b/d

Delivery Vans
2012
30500 September

19
11
25
22
26
22
1

30
30

42000
2012
October

1 Balance b/d

25000
Fittings

2011
October

1 Balance b/d

2012
14000 September

1 Balance b/d

14000

30

2012
October

1 Balance b/d

Premises
2012
160000 September

1 Balance b/d

160000

2011
October

30

2012
October

1 Balance b/d

Inventory
2012
54000 September

1 Balance b/d

54000

2011
October
2012
October

30

2012
September

30 Balance c/d

2012
September

30 Balance c/d

Share Capital
2011
200000 October
2012
October

1 Balance b/d

Share premium
2012
20000 September

1 Balance b/d

20000

1 Balance c/d

Retained earnings
2011
53150 October
1
2012
October
1

2011
October

Income tax
2011
10000 October
2012
October

2012
October

2012
September

Loan
2012
September

2011
1 Balance c/d

60000 October

1
2012

October

Murphy
Hulgerstein
Foley
Williams

5000
20000
5000
15000

Foley
Doolan
Bank
Doolan
Williams
Doyle
O`Haire
Brennan
Hulgerstein
Williams
Kelly
O`Haire
Bank
Hulgerstein
O`Haire
Doolan
Baralux Ltd.
Bank
O` Haire
Doolan
O`Haire
Murphy
Doolan
Bank
O`Sulivan
Bank
Balance b/d

4000
4000
24500
3000
20000
8000
11000
17000
25000
50000
4000
25000
14000
10000
17000
11000
50000
6000
5000
4000
6000
6000
3000
4900
3000
2450
382850

Return Inwards
Bank
Discount allowed

1000
13000
650

Bank
Bank
Discount allowed
Balance c/d

2350
4000
100
1900

23000

Bank
Discount allowed

19000
1000

Bank
Discount allowed
Bank
Discount allowed

20000
500
14050
450

Bank

12000

Return Inwards
Bank
Discount allowed

1000
7600
400

Bank
Discount allowed

13000
750

Bank
Bank

18000
53250

Bank
Discount allowed
Return Inwards

12000
500
100

Balance c/d

12400
25000

Bad debt

Return Inwards
Bank

8000

1000
51550

Discount allowed
Bank
Discount allowed

450
5900
100

Returns Inwards
Balance c/d

2000
2000
4000

Bank
Discount allowed

16900
100

Bank
Balance c/d

36000
14000
50000

Bank
Discount allowed
Balance c/d

2500
200
300
3000

Balance b/d
Purchases

11000
53750

Purchases
Purchases
Purchases
Purchases

37500
13000
15750
19000

Balance b/d

150000
1000

Balance b/d
Purchases

4000
21250

Purchases
Purchases
Purchases

31500
21000
13000
90750

Purchases
Balance b/d

2000
2000

Purchases
Purchases

20000
26000

Balance b/d

46000
43400

Wages

8000

Lighting and heating expenses

(cheque No.23985)

1450

Petty Cash
(cheque No.23986)
Wages

600
8000

Cronin
(cheque No. 23987)
VAT

42000
2400

Insurance Motor
(cheque No. 23988)
Wages

2400
8000

Rent expense
(cheque No. 23989)
Wages

8000
8000

Motor expenses
(cheque No. 23990)
Wages

5300
8000

Broderick
(cheque No. 23991)

36750

Cronin
(cheque No. 23992)

33200

Lighting and heating expenses

(cheque No. 23993)

4350

Advertising expenses
(cheque No. 23994)
Wages

3500
8000

Motor tax
(cheque No. 23995)

1000

Motor delivery expenses

(cheque No. 23996)

900

Cronin
(cheque No. 23997)
Wages
Wages

15000
8000
8000

Broderick
(cheque No. 23998)

53650

Motor and delivery expenses

(cheque No. 23999)
Wages

3500
8000

Petty cash
(cheque No. 240000)
Wages

300
8000

Insurance Motor
(cheque No. 240001)

2400

Telephone expenses
(cheque No. 240002)

4500

Cronin
(cheque No. 24003)
Wages

26000
8000

Lighting and heating expenses

(cheque No. 24004)

2528

Cronin
(cheque No. 24005)

9000

Slatery
(cheque No. 24006)
Wages
Balance c/d

Stationery
Postage expense
Stationery

Postage expense
Stationery
Postage expense
Postage expense
Stationery
Postage expense
Stationery
Balance c/d

2500
8000
41772
399000

70
27
350

80
200
12
12
50
35
42
152
1030

ionery, postage, and telephone

Balance b/d (Accrued b/d)

130

Balance c/d

Balance b/d (accrued b/d)

Balance c/d

5248
5378

100

8228
8328

Insurance
Insurance
Insurance
Insurance
Insurance
Insurance

expense
expense
expense
expense
expense
expense

Motor
Motor
Motor
Motor
Motor
Motor

400
400
400
400
400
400

Insurance expense - Motor

Insurance expense - Motor
Balance c/d

800
800
800
4800

Balance b/d

2400

Bank
Balance c/d

1000
7000
8000

Cronin

10250

Cronin
Cronin
Balance b/d

3000
6000
19250

Cronin

1500

Cronin
Cronin
Broderick
Cronin
Slatery
Balance b/d

2000
800
350
250
100
5000

Bank
Balance c/d

5500
25000
42000

Balance c/d

14000

Balance c/d

160000

Balance c/d

54000

Balance b/d

10000

Balance b/d

10000

Balance b/d

200000

Balance b/d

200000

Balance c/d

20000

Balance b/d

53150

Balance b/d

53150

Balance b/d

60000

Balance b/d

60000

Antique Furniture Supplies Ltd.

Opening trial balance as at 1 October 2011
Dr

Non - current assets

Delivery vans
Fittings
Premises
Current assets
Inventories
Trade Receivables (Muphy 12000; Foley 12000)
Bank
Petty cash
Current liabilities
Trade Payables (Cronin 11000; Broderick 4000)
VAT
Income tax
Equity
Share capital (200000 1 shares)
Share premium
Retained earnings 1 October 2010
10 per cent lonfg term loan
Selling and distribution expenses
Motor delivery expenses
Administration expenses
Stationery, postage, and telephone
Light and heat
Rent

Cr

30500
14000
160000
54000
24000
35550
130
15000
2400
10000
200000
20000
53150
60000
600
130
100
2000
340780

340780

Antique Furniture Supplies Ltd.

Opening trial balance as at 1 October 2011
Dr

Sales
Purchases
Returns Outwards
Returns Inwards
Discount allowed
Discount received
Delivery vans
Fittings
Premises
Inventories
Murphy
Doolan
Kelly
Baralux Ltd.

Cr

382850
273750
19250
5100
6200
5000
25000
14000
160000
54000
1900
12400
2000
14000

O`Sulivan
Bank
Petty cash
Prepaid Insurance - Motor
Cronin
Sabura
Slatery
Income tax
Share capital (200000 1 shares)
Share premium
Retained earnings 1 October 2010
10 per cent long term loan
Motor delivery expenses
Motor expense
Motor repairs expenses
Insurance expense - Motor
Motor tax
Advertising expenses
Bad debt
Stationery, postage, and telephone
Light and heat
Rent
Wages

300
41772
152
800
1000
2000
43400
10000
200000
20000
53150
60000
4100
5300
900
4,000
1000
3500
7000
5248
8228
10000
96000
776650

776650

Antique Furniture Supplies Ltd.

Opening trial balance as at 1 October 2011

Non - current assets

Delivery vans
Fittings
Premises
Current assets
Inventories
Trade Receivables (Muphy 12000; Foley 12000)
Bank
Petty cash

Current liabilities
Trade Payables (Cronin 11000; Broderick 4000)
VAT
Income tax
Equity
Share capital (200000 1 shares)
Share premium
Retained earnings 1 October 2010
10 per cent lonfg term loan
Selling and distribution expenses
Motor delivery expenses
Administration expenses
Accounting services
Stationery, postage, and telephone
Light and heat
Rent
Wages

2.
Depreciation rate = 20%
2009 Cost of van

Depreciation 1st year (12000x20%)

2010 Book Value 1st year
Depreciation 2nd year (9600x20%)
2011 Book Value 2nd year
Depreciation 3rd year
2012 Book Value 2nd year
Depreciation amount = 5856

3.

Depreciation rate = 20%

2011 Cost of delivery vans
Depreciation(30500x20%)
2012 Book value
Depreciation amount = 6100
Depreciation rate = 20%
2011 Cost of premises
Depreciation(160000x20%)
2012 Book value
Depreciation amount = 32000
Depreciation rate = 10%
2011 Cost of fittings
Depreciation(160000x20%)
2012 Book value
Depreciation amount = 1400

Dr

Cr

Date
1.

30500 -12000 -6100

14000 -1400
160000 -32000

2.

54000 -19000
24000 -1200(1530)
35550 +5500
130

15000
2400
10000

3.

200000
20000
53150
60000

4.

600
12000
130 +265
100 +175
2000
340780

2000
340780

5.

6.
12000

-2400
9600
-1920
7680
-1536
6144

7.

8.

30500
-6100
24400

160000
-32000
128000

14000
-1400
12600

Details
Inventories change
Inventories
Closing inventory is valued at 35000
Disposal of van
Delivery van
Provision of depreciation(depreciation expense)
Disposal of van
Bank
Disposal of van
The van was disposed to Mr. O`Donnel at cost of 5500. The Van had been
acquired in 2009 at cost of 12000 and had been depreciated at a rate of
20% per annum on cost
Depreciation expense
Accumulated depreciation on delivery vans
Depreciation expense
Accumulated depreciation on premises
Depreciation expense
Accumulated depreciation on fittings
Depreciation charged on delivery news, premises, fittings.
Accrued expenses - Light and heat
Light and heat
Accrued expenses - Stationery, postage, and telephone
Stationery, postage, and telephone
Accrued expenses - Wages
Wages
The following expenses are outstanding at the year and along
Accounting services
Bank
The charge for acconting services
rent payment for 1 year
motor insurance for 3 months
The rent payment on 30 january was in respect of the
subsequent 12 moths, the motor insurance payment on 30 July
related to subsequent 3 months (already in t-accounts)
Bad debt
Doyle
(already in t - accounts)
Accounts receivables
Allowance for doubtul debts (24000x5%)
The allowance for doubtfull debts equal to 5% of closing trade
receivables is established

Dr

19000

12000
5856
5500

6100
32000
1400

175
265

2000

12000

1200

Accounts receivables
Allowance for doubtul debts (30600x5%)
The allowance for doubtfull debts equal to 5% of closing trade
receivables is established

1530

Cr

19000

12000
5856
5500

6100
32000
1400

175
265

2000

12000

1200

1530

Antique Furniture Supplies Ltd.

Income Statement for the year ending 30 September 2012