Student Name:
Jones Haulage Co Ltd Jone Haulage Co Ltd
Trading, Profit and Loss Account Balance Sheet as at 31/12/2016
For year Ended 31/12/2016
£ £ £ £ £ £
SALES 55,250 Non-Cuurent Assets Cost Acc Dep Net Book Value
MACHINE 30000 10000 20000
Less Cost of Sales VAN 25000 5000 20000
OPENING STOCK 1500 55000 15000 40000
Add: PURCHASES 34500
Current Assets
Less: CLOSING STOCK 0 STOCK
Cost Of Sales 36000 DEBTORS 3200 3200
Gross Profit 19250 LESS PROVISION FOR BAD DEBT
PREPAYMENTS
Less Expenses: BANK 15640
DIRECTORS FEES 780 780 CASH 6480 25320
ELECTRICTY BILL 2500 2500
ADD ACCRUAL Current Liabilities
ADVERTISING 1250 1250 CREDITORS 4600
LESS PREPAYMENT PROPOSED DIVIDENDS 0
WAGES AND SALARIES 4000 4000 ACCRUALS 0 4600
ADD ACCRUAL WORKING CAPITAL 20720
BAD DEBT TOTAL NET ASSETS 60720
PROVISION FOR BAD DEBT
VAN DEPRECIATION FINANCED BY:
MACHINERY DEPRECIATION SHARE CAPITAL 30000
Total Expenses 8530 RESERVES 15000
Net Profit 10720 PROFIT 15720
Plus Unappropriated Profit b/f EQUITY 60720
Accumulated Net Profit 10720
Less Proposed Dividends 0
Unappropriated Profit 10720
Jones Haulage Co Ltd Jone Haulage Co Ltd
Trading, Profit and Loss Account Balance Sheet as at 31/12/2016
For year Ended 31/12/2016
£ £ £ £ £ £
SALES 55,250 Non-Cuurent Assets Cost Acc Dep Net Book Value
MACHINE 30000 10000 20000
Less Cost of Sales VAN 25000 5000 20000
OPENING STOCK 1500 55000 15000 40000
Add: PURCHASES 34500
Current Assets
Less: CLOSING STOCK 0 STOCK
Cost Of Sales 36000 DEBTORS 3200 3200
Gross Profit 19250 LESS PROVISION FOR BAD DEBT
PREPAYMENTS
Less Expenses: BANK 15640
DIRECTORS FEES 780 780 CASH 6480 25320
ELECTRICTY BILL 2500 2500
ADD ACCRUAL Current Liabilities
ADVERTISING 1250 1250 CREDITORS 4600
LESS PREPAYMENT PROPOSED DIVIDENDS 0
WAGES AND SALARIES 4000 4000 ACCRUALS 0 4600
ADD ACCRUAL WORKING CAPITAL 20720
BAD DEBT TOTAL NET ASSETS 60720
PROVISION FOR BAD DEBT
VAN DEPRECIATION FINANCED BY:
MACHINERY DEPRECIATION SHARE CAPITAL 30000
Total Expenses 8530 RESERVES 15000
Net Profit 10720 PROFIT 15720
Plus Unappropriated Profit b/f EQUITY 60720
Accumulated Net Profit 10720
Less Proposed Dividends 0
Unappropriated Profit 10720
