Table of ContentsINTRODUCTION......................................................................................................................3PART A......................................................................................................................................3a. Writing double entry and recording transactions in T accounts.........................................3b. Ledgers a/c.........................................................................................................................4c. Preparing trial balance........................................................................................................8d. Income statement...............................................................................................................9e. Drafting statement of financial position...........................................................................10PART B....................................................................................................................................111. Computation of ratio analysis..........................................................................................112. Commenting on the financial performance and position of Jill.......................................12CONCLUSION........................................................................................................................13REFERENCES.........................................................................................................................14
INTRODUCTION Financial accounting field of finance lays emphasis on recording transactionassociated with the concerned period. The main behind recording monetary information is toget idea about overall performance and position. In this regard, profitability statement ishighly significant which furnishes information about income generated over expenses.Further, balance sheet provides deeper insight about assets, liabilities and shareholder’sequity. The present report is based on the case scenario of Jill which presents company’stransaction for the month ended on September. PART Aa. Writing double entry and recording transactions in T accounts Journal entries in the book of Jill for the month ended on 30th September 2018DateParticularsDebit (in £)Credit (in £)1 / 09Cash a/c Dr.Bank a/c Dr. To capital a/c800300038002 /09Purchases a/c Dr To Ron or creditors a/c 9009003 /09Computer a/c Dr To bank a/c 8008005 /09Bank a/c Dr To sales a/c5005006 /09Purchases a/c Dr To cash a/c40040010 /09Rent a/c Dr To bank a/c30030012 /09Stationery a/c Dr To cash a/c10010018 /09Creditors or Ron a/c Dr To purchase return a/c 10010021 /09Bank a/c Dr To rent received a/c 10010023 / 09Debtors or Bill a/c Dr To sales a/c 40040023 / 09Cash a/c Dr To sales a/c1500150024 / 09Car a/c Dr To bank a/c 90090030 / 09Wages a/c Dr 400
To cash a/c 40030 / 09Drawing a/c Dr To cash a/c 550550b. Ledgers a/c Cash a/c Debit side Credit sideDateParticularsAmount (in£)DateParticularsAmount (in£)1 / 09To capital a/c8006 /09By Purchasesa/c40012 /09Stationery a/c10023 / 09To sales a/c150030 / 09By Wages a/c40030 / 09By Drawinga/c55030 / 09By balance c/d950Total23002400Bank a/c Debit side Credit sideDate ParticularsAmount (in£)Date ParticularsAmount (in£)1 / 09To capital a/c30003 /09By Computera/c8005 / 09To sales a/c50010 /09By Rent a/c30021 /09To rentreceived a/c10024 / 09By Car a/c90030 / 09By balance c/d1600Total36003600Capital a/6Debit side Credit side
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