Accounting Ledger and Trial Balance

The provided document is a sample ledger and trial balance for an accounting assignment. It includes detailed transactions and balances for various accounts such as purchases, bank, discounts, business rates, storage cost, sales, salaries, motor expenses, premises, fixtures, inventory, and capital. The ledger and trial balance are presented in a table format, with dates, particulars, amounts, and total values. This document is suitable for students studying accounting and can be used as a reference or example for their assignments.

Finance Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
BUSINESS REPORT......................................................................................................................1
1.Financial Accounting and its purposes................................................................................1
2:Regulation related to finance...............................................................................................2
3: Accounting rules and principles.........................................................................................3
4 Convection and concept related to consistency and material disclosure.............................4
CLIENT 1........................................................................................................................................4
CLIENT 2........................................................................................................................................4
(a) Statement of profit and loss for Peter Hampau for the year ended 31st July 2018 ..........4
(b) Statement of financial position for Peter Hampau as at ended 31st July 2018 ................6
CLIENT 3........................................................................................................................................6
(a) Profit and loss account of Bowling Limited:....................................................................6
(b) Balance Sheet of Bowling Limited...................................................................................7
(c) Accounts concepts : Consistency and Prudence:..............................................................8
(d) Purpose of depreciation in formulating accounting statements and methods of
Depreciation:..........................................................................................................................8
CLIENT 4........................................................................................................................................9
(i) Bank reconciliation statement at 1st December 2017:......................................................9
(ii) Durrell Ltd's updated cash book for December 2017 :.....................................................9
(iii) Bank Reconciliation Statement as at 31"t December 2017:..........................................10
CLIENT 5......................................................................................................................................10
(a) Sales Ledger Control and Purchase Ledger Control Account:.......................................10
(b) Control Account:.............................................................................................................11
CLIENT 6......................................................................................................................................11
(a) Suspense Account:..........................................................................................................11
(b) Preparation of Trail Balance:..........................................................................................11
(c) Journal entries in order to show necessary corrections for eliminating suspense account
balance:.................................................................................................................................12
(d) Difference between a Suspense A/c and Clearing A/c:..................................................12

CONCLUSION..............................................................................................................................13
REFERENCES .............................................................................................................................14
APPENDIX....................................................................................................................................15
(a) Journal Entry in the books of David Study....................................................................15
(b) LEDGER ACCOUNTS..................................................................................................17

INTRODUCTION
Financial accounting is field of accounting mainly concerned with recording of financial
transaction, classification of different transactions, reporting and analysis in order to know
performance and profitability of business organisation. Furthermore, it include financial
statement, profit and loss account, cash flow statements and other significant statements to know
true position of business organisation (Edwards, J. R., 2013). Main duty of accountant in a
business organisation is to record all financial transaction in journals, post them in ledger,
prepare trial balance and finally reporting through financial statements to present true and fair
view of financial statement. This report exhibits various aspects of financial accounting like
purpose of financial accounting, regulations relating to financial accounting, accounting rules
and principles and explanation about convections and concepts relating to consistency and
material disclosure. This report also covers bank reconciliation statement, process of preparing
bank reconciliation statement and, suspense account and its importance.
BUSINESS REPORT
1.Financial Accounting and its purposes
Financial accounting refers to set of activities related to preparation of final accounts of
a business organisation in order to access and provide information about actual performance and
financial position to internal and external users of financial accounting such as employees,
investors, lenders and creditors, suppliers, government, customers and other regulatory bodies.
Such final accounts are prepared by business organisations while considering various accounting
policies, guidelines, rules and regulations (Hale, 2012). A Business organisation prepare
financial accounting which mainly includes statement of financial position, profit and loss
account or income statement, statement for change in equity and cash flow statement.
Purpose of Financial statement
 Financial statement shows financial details of company like profit earned, assets, retained
earnings for both internal and external user who so ever are interested in financial
statements of company.

 Investor invest in company after analysing the financial statement of the company. Firm
with more assets and profits will attract more investor. Therefore, this is win win
situation for both investor as well as for firm.
 Lenders/Creditor prior of extending loan thoroughly checks financial statement of
respective company and then make decision related to extending or restricting their credit
requirement.
 Taxation are imposed by government on basis of revenue and assets of company. Hence,
real position is displayed by financial statement thus charged tax accordingly.
 Financial statements help in making external comparison (between different firm) as well
as internal comparison (within the firm).
2:Regulation related to finance
Stakeholder of company are the users of financial statement. They access financial
statement for their personal interest like investment/purchase share of particular company,
provide credit to company, purchase product etc. Moreover, the main concern of user is that they
get useful, reliable and relevant data as a base for future actions. Taking into consideration the
requirement of user, government has developed a regulatory framework known as GAAP
(General Accepted Accounting Principle). It is a standard method that involve concept, rules or
principle, which ensure financial statement of company is transparent, reliable as well as
consistent (Fourie, 2015).
There are three regulatory/financial standard in UK
Financial policy committee: It check financial statement as a whole. It's work is to manage risk
associated with the stability of firm. Hence, they are responsible for macroeconomic regulation.
Prudential regulatory authority: These authority are responsible for microeconomic regulation.
Their objective is to safeguard the interest, safety and financial strength of firm by reducing
external factor that have negative effect on firm.
Financial conduct authority: Financial conduct authority's responsibility is to conduct business
regulation, safeguard interest of investors and promote competition for customers. They have
additional power like withdraw existing product, or imitated product as well as they can stop the
functioning of any firm, which provide misleading data to outside party.
2

3: Accounting rules and principles
Accounting rules: Accounting is a dual entry system, which affect two account one is debit
account, and other one is credit account. There are three rules of accounting for personal account,
real account and nominal account (Hall, J. A., 2012).
Personal account:It includes account of human being (sole proprietor, debtor) and artificial
independent body (company, bank). As well as account of group person like drawing account,
prepaid salary account etc. Hence, the golden rule for personal account is “debit the receiver and
credit the giver”.
Real account: Real account is a part of impersonal account that include firm's tangible asset
(machinery account, cash account) and intangible assets (patent account, goodwill account). The
golden rule for real account is “Debit what comes in, credit what goes out”
Nominal account: Nominal is again a part of impersonal account that include all fictitious
account like expense, revenue, gain and loss of firm. Such as travelling expenses account,
advertisement expense, commission paid and rent received account. The golden rule for nominal
account is “debit all expenses and losses, credit all income and gain” .
Accounting principles
Economic Entity: As business and businessmen are two separate legal entities. So it is duty of
accountant to separate the account of business owner from its business. Like drawings are
liability of business owner.
Monetary measurement: Accountant of firm record only those transaction which can be
displayed in term of money. There can be non monetary transaction which are important for
business but can't become part of financial transaction.
Historical cost principle: The value of assets keeps on changing with time. Moreover, it is the
duty of accountant to update only that price on which assets were taken or brought into the firm.
Firm don't have to do anything with current value of asset. Their further valuation takes place on
basis of historical prices.
Full disclosure of account: Any relevant information to stakeholder must be displayed in the
books of firm. This principle make sure that stakeholders don't get manipulative or misleading
data as well as it ensure firm don't hide any relevant entry.
3

Going concern principles: This principle says whenever a firm operate, it operate with life long
running prospective. In case accountant comes to know that company can't continue any more
then this information must also be disclosed in their statements.
4 Convection and concept related to consistency and material disclosure
Consistency: This method states that the policy formed by company should be followed for years
and years they cannot change them repeatedly. Adopting same policy helps company to make
better comparison within the industry. For instance, if a firm is following straight line method of
depreciation they should try to continue with that only (Jönsson, 2013).
Materiality disclosure: All transaction should be recorded or disclosed properly. This brings
transparency to firm and attract stakeholders. Like if the company’s liabilities are more than
asset they should disclose it in their financial statements. All petty information should not be
hide from outside party for the self-motives of firm.
CLIENT 1
See appendix
CLIENT 2
(a) Statement of profit and loss for Peter Hampau for the year ended 31st July 2018
Peter Hampau
Statement of Profit or Loss for the year
ended 31 July 2018
£ £ £
Revenue 1,20,000
Less cost of sales
Opening inventory 4,500
Add purchases 70,000
74,500
Less closing inventory Note 1 -42,640 -31,860
4

Gross profit 88,140
less expenses
Wages and salaries 16,500
Add wages and salaries accrued 1,520 18,020
Motor expenses 4580
Admin expenses 1,650
Heating and lighting 550
Advertising expenses 1,030
Less advertising expenses
prepaid -447 583
Depreciation on premises 560
Depreciatiomn on equipment 1,900
Deprecition on motor vehicles 360 2,820
28,203
Net profit 59,937
5

(b) Statement of financial position for Peter Hampau as at ended 31st July 2018
Peter Hampau
Statement of Financial Position as at 31 July 2018
ASSETS £ £ £
Non-Current Assets cost
Accumulated
depreciation Net Book Value
Freehold Premises (4450+560) 28,000 -5,080 22,990
Equipment (6800+1900) 19,000 -8,700 10,300
Motor vehicles (1200+360) 3,000 -1,560 1,440
Total Non-Current Assets 50,000 -15,270 34,730
Current Assets
Inventory Note 1 42,640
Trade receivables 11,520
Prepaid advertising
expenses 447
Cash in hand 300
Total Current Assets 54,907
Total Assets 89,637
Equity and liabilities
Equity
Capital 24,380
Add profit 59,937
84,317
Less drawings -2800
Total Equity 81,517
Current Liabilities
Trade payables 5,600
Accruals: wages and salaries 1,520
Bank overdraft 1,000
6

Total Current Liabilities 8,120
Total Equity and Liabilities 89,637
CLIENT 3
(a) Profit and loss account of Bowling Limited:
Bowling Limited
Statement of Profit or Loss for the year ended 31st July 2018
£000
Revenue 1,05,000
Less:Cost of sales 31,000
Gross profit 74,000
Expenses
Less: Administrative cost 30,000
Less: Distribution cost 30,000
Operating profit 14,000
Less: Tax 4,000
Profit for the year 10,000
(b) Balance Sheet of Bowling Limited
Bowling Limited
Statement of Financial Position as at 31st July 2018
£000
Assets
Non-Current Assets
Land and buildings
(60000-1000-7000) 52,000
7

Plant and machinery
(65000-10000-15000) 40,000
Total Non-current Assets 92,000
Current Assets
Inventory 18,000
Trade receivables 24,000
Other receivables (prepayments) 3,000
45,000
Total Assets 1,37,000
Equity and Liabilities
Share Capital 50,000
Share Premium 20,000
Retained earnings 32,000
1,02,000
Current Liabilities
Trade payables 14,000
Other payables 2000
Bank overdraft 15000
Tax payable 4000
Total current liabilities 35,000
Total Equity and Liabilities 1,37,000
(c) Accounts concepts : Consistency and Prudence:
Accounting concepts refers to basic assumptions, rules and principles that gives a
frameworks for recording of accounting transactions and preparation of final accounts.
Accounting is mainly concerned with principles and accounting principles are framed on the
basis of some assumptions such assumptions are also known as accounting concepts (Mullinova,
S., 2016).
Consistency: According to this accounting concept accounting policies adopted by
business organisation should be applied consistently from one period to another period. Any
8

change in already adopted accounting policies and assumption can be made only if it is as per
relevant statue or any change would results in better presentation of accounts.
Prudence: According to this accounting concept business organisation can record
expenses, liabilities and obligation as soon as they occur whereas any revenues and incomes
should be recorded as they realized.
(d) Purpose of depreciation in formulating accounting statements and methods of Depreciation:
Depreciation used by business organisation to exhibit decrease in assets arises due to
obsolescence or physical wear and tear of assets during a particular period (Bushman and Smith,
2001). Depreciation is simply shows actual consumption of particular asset. Following are major
methods to calculate depreciation:
Straight line method: In straight line method an equal amount of depreciation is
provided by business organisation during the whole useful life of asset. This is an simple and
most widely used method of depreciation. Formula of depreciation under this method is:
Cost of assets less Residual value
Total Useful life of asset
Written down value method: In this method a certain formula is used to calculate fix
percentage of depreciation and such percentage is applied to book value of asset to get amount of
depreciation for the year. This method is used for assets that have more efficiency in the
beginning and thereafter decreases year after year (Holthausen and Watts, 2001). This method is
usually adopted for plant and machinery, fixtures and fittings, motor vehicles, etc..
CLIENT 4
Purpose of bank reconciliation: Bank-reconciliation statement is prepared by organisation to
reconcile the amount of bank account prepared by organisation with amount shown in bank
statement or pass book of bank (Libby, Bloomfield and Nelson, 2002).
Reason for variation in cash book and bank statement: Due to deposit of any amount by
customers directly into bank account, bank charges charged by bank and organisation in unaware
the fact, cheque issued but not presented etc. are major reason for difference in balance of cash
book and bank statement as on a particular date (Bank reconciliation statement. 2017).
(i) Bank reconciliation statement at 1st December 2017:
9

Bank Reconciliation Statement as at 1st December 2017
Debits £
Balance as per opening Bank Statement 17,478
Outstanding Lodgements 176
17,654
Un-presented Cheques 1,163
Balance as per corrected Cash Book 16,491
(ii) Durrell Ltd's updated cash book for December 2017 :
Dr Corrected Cash Book (Bank) Cr
£ £
31/Dec Balance b/d 19,973 Overstated amount 1
Overstated amount 9 Bank charges 47
Standing order 137
310923 (Direct D) 297
Balance c/f 19,500
19,982 19,982
Balance b/d 19,500
(iii) Bank Reconciliation Statement as at 31"t December 2017:
Bank Reconciliation Statement as at 31st December
Debits £
Balance as per Bank Statement 19,738
Outstanding Lodgements 119
19,857
Un-presented Cheques 357
10

Balance as per corrected Cash Book 19,500
CLIENT 5
In the books of Henderson for January, 2018
(a) Sales Ledger Control and Purchase Ledger Control Account:
i) Purchase Ledger Control A/c
Henderson's Purchases Ledger Account
Date Details £ Date Details £
Cash/Bank 1,11,010 1st Jan Balance b/d 10,160
Discount received 550 Credit purchases 1,66,500
Set-off (contras entry) 540 Refund 400
Returns 2,110
31st Jan Balance c/f 62,850
177060 1,77,060
31st Jan Balance b/d 62,850
(ii) Sales Ledger Control A/c
Henderson's Sales Ledger Account
Date Details £ Date Details £
1st Jan Balance b/d 9,600
Bank (Receipts from
customers) 1,50,610
Credit sales 1,62,350 Discount allowed 960
Sales returns 5,320
Bad debts 1,200
Set-off balances 540
31st Jan Balance c/f 13,320
11

1,71,950 1,71,950
31st Jan Balance b/d 13,320
(b) Control Account:
A control account refers to a general ledger account that shows only total amount of
different ledgers like a summary (Edwards, 2013). Amount of each control account also found in
subsidiary ledger. Balance of control accounts shows sum of balance of all accounts.
Needs for preparing control account in the context of Henderson: Control account required
to show a managed summary of different ledgers and accounts. Control account is a tool used by
accountants in order to reconcile cost and final accounts. Control account assists in preparation
of profit and loss and financial statements quickly and in easy manner (Saunders, Cornett and
McGraw, 2000). Control accounts are prepared by accounts as an activity of internal check or
account balances and transactions.
CLIENT 6
(a) Suspense Account:
Suspense account is an temporary general ledger account prepared for posting of
uncertain or doubtful entries and irregularities pending and unclassified amounts (Khan and
Mayes, 2009).
Main features of suspense account: Suspense accounts assits in balancing of trial balance on
temporarily or permanently basis. This accounts helps to easily Identification of error by
showing mismatch amount in trial balance (White, Sondh, and Fried, 2005).
(b) Preparation of Trail Balance:
Trial Balance
Debit Credit
Purchases Account 700
Sales Account 1100
Rent paid Account 250
Cash in bank (Dr) 840
Travel expenses Account 160
12

Receivables Account 320
Payables Account 350
Opening inventory Account 220
Capital Account 710
Suspense- Control Account 330
2,490 2,490
(c) Journal entries in order to show necessary corrections for eliminating suspense account
balance:
JOURNAL ENTRIES
(in £)
Particulars Dr. Cr.
Simon A/c .................................................................................Dr
To Smith A/c
(being sale was debited to smith instead of Simon)
220
220
Jones A/c.................................................................................Dr
To Suspense A/c
(being sale of £420 not entered in Jones account, now entered)
420
420
Suspense A/c …..................................................................... Dr
To White A/c
(being purchase of £750 not entered in White account, now
entered)
750
750
Dr. Suspense Account Cr.
Particulars Amount Particulars Amount
To White A/c 750 By Balance b/d 330
By Jones A/c 420
13

Total 750 Total 750
(d) Difference between a Suspense A/c and Clearing A/c:
Suspense account are mainly prepared by an accountant of a business firm in case of any
error or omission found within account. In case if balance of trail balance on credit and debit side
shows different balance accountant of use to open a suspense account until the problem is
identified. On the other side clearing accounts are mainly prepared by bookkeeper of an
organisation that help them to record financial dealing on the temporary basis. The wait for the
suitable time and post the transaction into permanent account. Clearing account can also be used
in a way for accounts receivable (Peterson, 2005)
CONCLUSION
From the above report it has been concluded that financial accounting, GAAP
framework, accounting principles and rules regulation associated with financial statement holds a
huge relevance to prepare financial statement of the firm. Financial statement works for both
internal party as well as for outside party. In simple words who so ever finds interest in financial
report of company can go through the profit and loss as well as balance sheet of company.
Internal party uses information to check the performance of company like the amount of revenue
generated by company.
14

REFERENCES
Books and Journal:
Edwards, J. R., 2013. A History of Financial Accounting (RLE Accounting). Routledge.
Fourie, M. L., and et. al., 2015. Municipal finance and accounting. Van Schaik Publishers.
Hale, T. N., Hale, T. and Held, D. eds., 2012. Handbook of transnational governance. Polity.
Hall, J. A., 2012. Accounting information systems. Cengage Learning.
Jönsson, S., 2013. Accounting and business economics traditions in Sweden: A pragmatic view.
In Accounting and Business Economics (pp. 203-219). Routledge.
Mullinova, S., 2016. Use of the principles of IFRS (IAS) 39" Financial instruments: recognition
and assessment" for bank financial accounting. Modern European Researches. (1).
pp.60-64.
Bushman, R.M. and Smith, A.J., 2001. Financial accounting information and corporate
governance. Journal of accounting and Economics, 32(1-3). pp.237-333.
Holthausen, R.W. and Watts, R.L., 2001. The relevance of the value-relevance literature for
financial accounting standard setting. Journal of accounting and economics. 31(1-3).
pp.3-75.
Libby, R., Bloomfield, R. and Nelson, M.W., 2002. Experimental research in financial
accounting. Accounting, Organizations and Society. 27(8). pp.775-810.
Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting). Routledge.
Khan, A. and Mayes, S., 2009. Transition to accrual accounting. International Monetary Fund.
Saunders, A., Cornett, M.M. and McGraw, P.A., 2006. Financial institutions management: A
risk management approach (Vol. 8). New York: McGraw-Hill/Irwin.
White, G.L., Sondh, A.C. and Fried, D., 2005. Analysis of Financial Statement. Analysis.
Peterson, S.J., 2005. Construction accounting and financial management (p. 556). New Jersey:
Pearson Prentice Hall.
Online
Bank reconciliation statement. 2017. [Online]. Available through:
<https://www.toppr.com/guides/accountancy/bank-reconciliation-
<https://www.toppr.com/guides/accountancy/bank-reconciliation>
15

APPENDIX
(a) Journal Entry in the books of David Study
Date Particulars Debit Credit
01/01/18 Premises A/c Dr. 440000
Motor Van A/c Dr. 45250
fixtures A/c Dr. 10100
Inventory A/c Dr. 40900
P Mole A/c Dr. 2200
F Lane A/c Dr. 2100
Bank A/c Dr. 42400
Cash A/c Dr. 10600
To S Hamid A/c 10150
To J. Brown A/c 9600
To Capital A/c (Balancing Figure) 573800
(Being Owner's Capital is calculated )
Therefore, David Study's Capital at 1st January = £
573800
Date Particulars Debit Credit
01/01/18 Storage cost A/c Dr. 800
To bank A/c 800
(Being storage cost is paid)
02/01/18 Purchases A/c Dr. 7680
To S Hamid A/c 2450
To D Main A/c 2560
To W Tag A/c 1060
To R Foot A/c 1610
16

(Being goods purchases on credit from various parties)
03/01/18 J Wilson A/c Dr. 2020
T Cole A/c Dr. 1840
F Seema A/c Dr. 2380
J Allen A/c Dr. 990
P White A/c Dr. 2820
F Lane A/c Dr. 1170
To Sales A/c 11220
(Being goods sold on credit to various parties)
04/01/18 Motor Expenses A/c Dr. 670
To Cash A/c 670
(Being motor expense is paid)
07/01/18 Capital A/c Dr. 2000
To Cash A/c 2000
(Being cash withdrawal by owner himself)
09/01/18 T Cole A/c Dr. 1280
J fox A/c Dr. 2310
To Sales A/c
(Being goods purchase on credit with various parties)
11/01/18 Sale Return A/c Dr. 680
To J Wilson A/c 370
To F Seema A/c 310
(Being goods is returned back by the parties
16/01/18 Bank A/c Dr. 7150
17

Discount Allowed A/c Dr. 461
To P Mole A/c 1710
To F Lane A/c 3364
To J Wilson A/c 963
To F Seema A/c 1574
(Being Payment received from parties after allowing
discount @ 5%)
19/01/18 R Foot A/c Dr. 110
To Purchases Return A/c 110
(Being Goods is returned to creditor)
22/01/18 Purchases A/c Dr. 3140
To L Mole A/c 1330
To W Wright A/c 1810
(Being goods purchased on credit)
24/01/18 S Hamid A/c Dr. 3860
J Brown A/c Dr. 4260
R Foot A/c Dr. 1750
To Bank A/c 7500
To Discount Recieved A/c 2370
(Being payment is made to creditors after receiving
discount @ 10%)
27/01/18 Salaries A/c Dr. 14500
To Bank A/c 14500
(Being salaries are paid through cheque)
30/01/18 Business Rates A/c Dr. 2220
18

To Bank A/c 2220
(Being business rates are paid through cheque)
(b) LEDGER ACCOUNTS
Storage Cost A/c
Date Particulars Amount Date Particulars Amount
01/07/
18
To Bank A/c 800 31/07/1
8
By Profit & Loss A/c 800
Total 800 Total 800
Sales A/c
Date Particulars Amount Date Particulars Amount
31/01/
18
To Trading and P&L
A/c
14810 03/01/1
8
By J Wilson A/c 2020
By T Cole A/c 1840
By F Seema A/c 2380
By J Allen A/c 990
By P White A/c 2820
By F Lane A/c 1170
09/01/1
8
By T Cole A/c 1280
By J fox A/c 2310
Total 14810 Total 14810
S Hamid A/c
Date Particulars Amount Date Particulars Amount
24/01/
18
To Discount Received
A/c
1260 01/01/1
8
By Opening Balance
(B/f)
10150
To Bank A/c 2600 02/01/1
8
By purchases A/c 2450
31/01/ To Closing Balance 8740
19

18 C/d
Total 12600 Total 12600
W Tag A/c
Date Particulars Amount Date Particulars Amount
31/01/
18
To Closing Balance
C/d
1060 02/01/1
8
By purchases A/c 1060
Total 1060 Total 1060
J Wilson A/c
Date Particulars Amount Date Particulars Amount
03/01/
18
To Sales A/c 2020 11/01/1
8
By Sales Return A/c 370
16/01/1
8
By Bank A/c 880
By Discount Allowed
A/c
83
31/01/1
8
By Closing Balance c/d 687
Total 2020 Total 2020
F Seema A/c
Date Particulars Amount Date Particulars Amount
03/01/
18
To Sales A/c 2380 11/01/1
8
By Sales Return A/c 310
16/01/1
8
By Bank A/c 1470
By Discount Allowed
A/c
104
31/01/1 By Closing Balance c/d 496
20

8
Total 2380 Total 2380
P White A/c
Date Particulars Amount Date Particulars Amount
03/01/
18
To Sales A/c 2820 31/01/1
8
By Closing Balance c/d 2820
Total 2820 Total 2820
P Mole A/c
Date Particulars Amount Date Particulars Amount
01/01/
18
To Opening Balance
(B/f)
2200 16/01/1
8
By Bank A/c 1600
By Discount Allowed
A/c
110
31/01/1
8
By Closing Balance c/d 490
Total 2200 Total 2200
Capital A/c
Date Particulars Amount Date Particulars Amount
07/01/
18
To Cash A/c 2000 01/01/1
8
By Opening Balance b/f 573800
31/01/
18
To Closing Balance
C/d
571800
Total 573800 Total 573800
J fox A/c
Date Particulars Amount Date Particulars Amount
21

09/01/
18
To Sales A/c 2310 31/01/1
8
By Closing Balance c/d 2310
Total 2310 Total 2310
Motor Van A/c
Date Particulars Amount Date Particulars Amount
01/01/
18
To Opening Balance
(B/f)
45250 31/01/1
8
By Closing Balance c/d 45250
Total 45250 Total 45250
Discount Allowed A/c
Date Particulars Amount Date Particulars Amount
16/01/
18
To P Mole A/c 110 31/01/1
8
By Trading and P&L
A/c
461
To F Steel A/c 164
To J Wilson A/c 83
To F Seema A/c 104
Total 461 Total 461
Discount Received A/c
Date Particulars Amount Date Particulars Amount
31/01/
18
To Trading and P&L
A/c
2370 24/01/1
8
By S Hamid A/c 1260
By J Brown A/c 960
By R Foot A/c 150
Total 2370 Total 2370
Salaries A/c
Date Particulars Amount Date Particulars Amount
27/01/ To Bank A/c 14500 31/01/1 By Trading and P&L 14500
22

18 8 A/c
Total 14500 Total 14500
Motor Expenses A/c
Date Particulars Amount Date Particulars Amount
04/01/
18
To Cash A/c 670 31/01/1
8
By Trading and P&L
A/c
670
Total 670 Total 670
Purchases A/c
Date Particulars Amount Date Particulars Amount
02/01/18 To S Hamid A/c 2450 31/01/
18
By Trading and P&L A/c 10820
To D Main A/c 2560
To W Tag A/c 1060
To R Foot A/c 1610
22/01/18 To L Mole A/c 1330
To W Wright A/c 1810
Total 10820 Total 10820
Bank A/c
Date Particulars Amount Date Particulars Amount
01/01/18 To Opening
Balance (B/f)
42400 01/01/
18
By Storage cost A/c 800
16/01/18 To P Mole A/c 1600 24/01/
18
By S Hamid A/c 2600
To F Lane A/c 3200 By J Brown A/c 3300
To J Wilson A/c 880 By R Foot A/c 1600
To F Seema A/c 1470 27/01/ By Salaries A/c 14500
23

18
30/01/
18
By Business Rates A/c 2220
31/01/
18
By Closing Balance C/d 24530
Total 49550 Total 49550
D Main A/c
Date Particulars Amount Date Particulars Amount
31/01/18 To Closing Balance
A/c
2560 02/01/
18
By purchases A/c 2560
Total 2560 Total 2560
By Purchases Return A/c
Date Particulars Amount Date Particulars Amount
31/01/18 To Trading and
P&L A/c
110 19/01/
18
By R foot A/c 110
R Foot A/c
Date Particulars Amount Date Particulars Amount
19/01/18 To Purchase Return
A/c
110 02/01/
18
By purchases A/c 1610
24/01/18 To Discount
Received A/c
150 31/01/
18
By Closing Balance C/d 250
To Bank A/c 1600
Total 1860 Total 1860
T Cole A/c
Date Particulars Amount Date Particulars Amount
03/01/18 To Sales A/c 1840 31/01/ By Closing Balance C/d 3120
24