Summary LPC - Solicitor's Accounts 20/21

SOLICITOR’S ACCOUNT – NOTES/EXAMPLES/SPECIMAN


CLIENT: Amy Lennon
MATTER: Sale of Summer Villa and BUSINESS CLIENT
Purchase of 3 Roman Way
DATE DETAILS DR CR BAL DR CR BAL
Oct
1 Cash: On Account 500 500CR
7 Cash: Official copies 14 486CR
14 Cash: Deposit 40,000 40,486CR
18 Cash: Seller’s solicitors 40,000 486CR
Nov
3 Profit Costs – Purchase 400 400DR
3 VAT – Purchase 80 480DR
3 Profit Costs – Sale 250 730DR
3 VAT – Sale 50 780DR
3 Imperial Bank Cost Transfer 144 924DR
9 Cash: Completion of Sale 324,000 324,486C
R
9 Amy & Buyer stakeholder - 36,000 360,486C
Transfer R
9 Cash: Aventine, Mortgage 11,000 349,486C
Redemption R
9 Imperial Bank Transfer 80,000 429,486C
R
9 Cash: Completion of Purchase 360,000 69,486CR
9 Cash: Stamp duty 10,000 59,486CR
9 Cash: Land registry fees 270 59,216CR
13 Cash: Amount due 924 ------------ 924 58,292CR

, 13 Tom transfer 40,000 18,292CR
13 Cash: To Amy 18,292 -------------


CLIENT: Amy Lennon and the buyer
MATTER: Stakeholder BUSINESS CLIENT
DATE DETAILS DR CR BAL DR CR BAL
18 Cash: For deposit 36,000 36,000CR
Nov
9 Amy Lennon - Transfer 36,000 -------------


CLIENT: Imperial Bank
MATTER: Mortgage Advance BUSINESS CLIENT
DATE DETAILS DR CR BAL DR CR BAL
2 Cash: Mortgage Advance 80,000 80,000CR
3 Profit Cost 120 120DR
3 VAT 24 144DR
3 Amy Lennon - Transfer 144 --------
Nov
9 Amy Lennon - Transfer 80,000 ----------




CLIENT: Tom Lennon
MATTER: Purchase of Watling Street BUSINESS CLIENT
DATE DETAILS DR CR BAL DR CR BAL
Nov

, 10 Cash: On Account 500 500CR
12 Dishonoured Cheque 500 --------
13 Amy Lennon transfer 40,000 40,0000C
R

CLIENT: Sian
MATTER: Purchase of Holly Bank and Sale BUSINESS CLIENT
of South Seas
DATE DETAILS DR CR BAL DR CR BAL
Oct
14 Cash: On Account 35,000 35,000CR
18 Cash: Deposit to seller’s solicitor 35,000 -------------
Nov
2 Greenwich B Soc Costs Transfer 96 96DR
3 Profit Costs: Purchase 250 346DR
3 Profit Costs Purchase VAT 50 396DR
3 Profit Costs: Sale 160 556DR
3 Profit Costs Sale VAT 32 588DR
9 Cash: Balance Sale 270,000 270,000CR
9 Transfer StakeH Deposit – Sian & B 30,000 300,000CR
9 Cash: Mortgage redemption 50,082 249,918CR
9 Transfer Greenwich Build S - Mortgage 80,000 329,918CR
9 Cash: Balance Purchase 315,000 14,918CR
11 Cash: Stamp Duty 7,500 7,418CR
15 Cash: HMLR 270 7148CR
17 Cash: Due to us 588 ------------- 588 6560CR
17 Cash: To Sian 6560 -------------