Summary P4P5 UNIT 8

Courtney Lowes


Trail Balances

(Jackie Edwards as of 31st March 2013)

Name of Account Debit Credit Location Income
Statement or Balance
Sheet
Stock at 1st April 2012 12,500 Income Statement
Purchases 105,000 Income Statement
Sales 155,000 Income Statement
Administration 6,200 Income Statement
Wages 20,500 Income Statement
Rent 3,700 Income Statement
Telephone 500 Income Statement
Interest Paid 4,500 Income Statement
Travel Expenses 550 Income Statement
Premises 100,000 Balance Sheet
Machinery 20,000 Balance Sheet
Debtors 15,500 Balance Sheet
Bank 450 Balance Sheet
Cash 50 Balance Sheet
Capital 75,000 Balance Sheet
Drawing 7,000 Balance Sheet
Loan from Bank 50,000 Balance Sheet
Creditors 16,500 Balance Sheet
Total 296,500 296,500 Balance Sheet


Stock at 31st March 2013 was valued at £10,500



Income Statement

(Jackie Edwards as of 31st March 2013)

£ £
Sales 155,000
Cost of Sales
Opening inventory 12,500
Purchases 105,000
Closing inventory 10,500
(107,000)
Gross Profit 48,000

Expenses
wages 20,500