Solutions Manual For Frank Wood's Business Accounting Volume 1 By Alan Sangster, Frank Wood All Chapters| LATEST

Solution Manual
Frank Wood’s Business Accounting
Volume 1, 14th New Edition By Frank
Wood

,Answers

Note: To Save Time And Space, The Months Are Omitted In The Ledger Accounts Which Follow. The Day
Of The Month Is Shown In Brackets.


Answer To Question 1.2a Ba 1
(A) 49,000 (B) 75,100 (C) 65,800
(D) 48,100 (E) 81,300 (F) 85,900


Answer To Question 1.4a Ba 1
(a) Asset (F) Asset
(b) Asset (G) Liability
(c) Liability (H) Liability
(d) Asset (I) Asset
(e) Asset


Answer To Question 1.6a Ba 1
Assets List Wrong: Accounts Payable, Capital.
Liabilities List Wrong: Equipment, Computers.


Answer To Question 1.8a Ba 1
Fixtures 3,200  Van 4,750  Inventory 2,340  Bank 520  Cash 100  Total Assets 10,910.
Loan 5,000  Accounts Payable 1,910  Capital (Difference) 4,000.


Answer To Question 1.10a Ba 1
G Cook
Balance Sheet As At 30 June 2019
Non-Current Assets
Equipment 9,720
Current Assets
6,430
9,280
410
16,120
Less Current liabilities
(8,380)
17,460

17,460

, Assets Liabilities Capital
(a) Van Accounts Payable
(b) Cash Loan From F Duff
(c) Inventory
Bank
(d) Cash Capital
(e) Inventory
Accounts Receivable
(f) Inventory Accounts Payable
(g) Cash Capital
(h) Bank Accounts Payable


Answer To Question 1.14a Ba 1
J Hill
Balance Sheet As At 7 December 2019
Non-Current
Assets
Equipment 6,310
Motor Vehicle 7,300
13,610
Current Assets
8,480
3,320
9,510
485
21,795
35,405
Current liabilities
1,760
33,645

33,645




Debited Credited Credited

, Bank Cash
16,000 (2) 6,400 (12) 180 (15) Office fixtures 120
400 (12) 180 (21) 500 (25) Bank 400
(19) Carton Cars 7,100
(30) Office Fixtures 480 Vans
(2) Bank 6,400
Office Fixtures (8) Carton Cars 7,100
(5) Old Ltd 900
(15) 120
(30) 480 (5) Office Fixtures 900

Capital Carton Cars
(1) Bank 16,000 (19) Bank 7,100 (8) Van 7,100

Loan From Berry
(21) Cash 500


Answer To Question 2.15a Ba 1
Bank Cash
(1) Capital 18,000 (8) Cash 400 (1) Capital 1,500 (3) Computer 1,200
(2) Loan Fox 4,000 (15) Loan Fox 1,000 (8) Bank 400 (24) Loan Fox 500
(17) Drop 840

Computer
Loan: T Fox (3) Cash 1,200
(15) Bank 1,000 (2) Bank 4,000
(24) Cash 500

Drop Ltd
(17) Bank 840 (5) Display Stands 840
Display Stands
(5) Drop 840
P Blake
(31) Printer 400
Capital Printer
(1) Cash 1,500 (31) P Blake 400
(1) Bank 18,000


Answer To Question 3.2a Ba 1
Debited Credited Debited Credited
(A) Purchases B Cowan (B) Returns In L Keith
(C) C Riddle Filing Cabs (D) Purchases Cash
(E) Lorry M Davis Ltd (F) J Hicks Returns Out
(G) Bank M Peters (H) Purchases Bank
(I) F Toms Bank (J) S Mulligan Sales