I have to do a 10 column worksheet also a Income statement and a balance sheet for the information given…

I have to do a 10 column worksheet also a Income statement and a balance sheet for the information given in EXcel: Accounts Payable Control 70600 Accounts recievable control 72640 Accum. Depreci. – delivery vehicle 3634 Advertising 3000 Audit Fees 2000 bad debts 400 Buildings 20000 Capital G Mc Shannon 101180 v Cash at bank 3352 Commision expense- Sales 8000 Copyright 3200 Cost of good sold 88498 Delivery vehicle 17800 Delivery vehicle expenses 2400 Government Bonds 4000 Interest on Mortgage 3200 Interest revenue 2108 Inventories control 71000 Land 10000 Loan to A Atherton (due 31/3/13) 8000 Loss by fire 5808 Office expenses 1660 Office salaries 67000 Petty cash advance 100 Postage expenses 498 Provision for DD 900 rates 7800 Sales- cash 130000 sales credit 161400 sales return (credit sales) 1486 Sales salaries 46800 Stationery 980 Drawings – G Mc shannon 3400 Equipment 16000 GST clearing (dr) 800 ……….Addional……. Stationery on hand as at 30/6/12 is $50 After a stocktake inventories as shown to be 70500 Depreceation to be writen off Delviery vehicle 20% reducing bal Equpment 15% straight line (5000 residual) Amorsitation of copyright over 10years Expenses outstanding: office expenses 200 Outstanding commision- sales to sales staff equual to 2% of June cash sales of 15000 Advertising – 5% of total advertising expense has not been used Interest revenue received in advance 200 Revenues outstadning : interest on loan to A Atherton at 4% pa (interest received anually on 31/3 Rates are to be devided between office and showroom in the ratio 1:1 respectively Provison FOR DD to be 1000

1

0

Column

10 Column Worksheet Trial Balance Adjustments Adjusted Trial Balance Income Statement

Balance Sheet

Accounts payable control 70600

70600 70600
Accounts receivable control 72640

72640 72640
Accum. Depreciation – Delivery veh. 3634 2833.2 6467.2

6467.2
Advertising 3000 1

50 2850

2850
Audit fees 200

0 2000

2000
Bad debts 400 Buildings 20000

20000 20000
Capital- G Mc Shannon 101180

101180 101180
Cash at bank 3352

3352
Commission expense- sales 800

0

8000
Copyright 320

0 3200

0
Cost of goods sold 88

498

88498
Delivery vehicle 1

7800

17800
Delivery vehicle expenses 2400

2400
Government Bonds 4000

4000
Interest on Mortgage

3200 3200
Interest revenue 2108

200

2308 Inventories Control 7

100

0 500 70500 Land 1000

0

10000
Loan to A Atherton (due 31/3/13)

8000 320

8320 Loss by fire 5808

5808
Office expenses 1660

200

1860 Office salaries 67000

67000
Petty cash advance

100 100
Postage expenses

498 498
Provision for DD 900

1000
Rates

7800
Sales

-cash 130000

130000
Sales- Credit 161400

161400
Sales return (credit sales) 1486

1486
Sales salaries 46800

46800
Stationery 980

50

930 Drawings – G Mc Shannon 3400

3400
Equipment 16000 1650 1450 GST Clearing

800
Inventory udjustment

500
Deprec – delivery vehicle

2833.2
Deprec – Equipment

1650
Deprec – Copyright

3200
Accrued revenue

200
Accrued expense

50 200
Prepaid expense 150 Unearned Revenue

320
GST Clearing
Profit/loss –

12850 469822

469822

8783.2 10423.2 434892 471955.2

12850 0

92640 165397.2 Net Profit / Loss -12850

Icome Statement

Income Statement

$ $

Sales

0

0 0

0

0 0
0

0
0

0

0
0
0
0

0 3000

0

2000

0

0

2000

0 2000

for the period ended 31 December 2005
						$
less Sales Returns
less COGS
275
2275
7275
-$7,275

Balance Sheet

Balance Sheet
$ $ $ $

as at 30 June 2005

Assets

Current Assets

Sheet1

able control

v

3200

10 Column Worksheet for Mc Shannon’s Trading for period ended 30 June 2012

Trial Balance

Adjustments

Adjusted Trial Balance

Income Statement

Balance Sheet

Accounts Payable Control

70600

Accounts recie

v

72640

Accum. Depreci. – delivery vehicle 3634

Advertising 3000

Audit Fees 2000

bad debts 400

Buildings 20000

Capital G Mc Shannon 101180

Cash at bank 3352

Commision expense- Sales 8000

Copyright

3200

Cost of good sold 88498

Delivery vehicle 17800

Delivery vehicle expenses 2400

Government Bonds 4000

Interest on Mortgage

Interest revenue 2108

Inventories control 71000

Land 10000

Loan to A Atherton (due 31/3/13) 8000

Loss by fire 5808

Office expenses 1660

Office salaries 67000

Petty cash advance 100

Postage expenses 498

Provision for DD 900

rates 7800

Sales- cash 130000

sales credit 161400

sales return (credit sales) 1486

Sales salaries 46800

Stationery 980

Drawings – G Mc shannon 3400

Equipment 16000

GST clearing (dr) 800

Addional

Stationery on hand as at 30/6/12 is 50dolla

After a stocktake inventories as shown to be 70500

Depreceation to be writen off

Delviery vehicle 20% reduxcing bal

Equpment 15% straight line (5000 residual)

Amorsitation of copyright over 10years

Expenses outstanding: office expenses 200

Outstanding commision- sales to sales staff equual to 2% of June cash sales of 15000

Advertising – 5% of total advertising expense has not been used

Interest revenue received in advance 200

Revenues outstadning : interest on loan to A Atherton at 4% pa (interest received anually on 31/3

Rates are to be devided between office and showroom in the ratio 1:1 re

spectively

Provison FOR DD

to be 1000

Sheet2

Sheet3