[DOWNLOAD] Accounts Ledger and Balance Sheet

The provided document is a comprehensive accounts ledger and balance sheet for Abel Motors Ltd. It contains multiple accounts, including expenses, drawings, discounts, salaries, business rates, and capital, with various transactions recorded in 2018 and 2017. The document also features accounts related to premises and a motor van. This detailed financial information is suitable for students studying accounting or finance.

FINANCIAL ACCOUNTING
PRINCIPLES

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Question:1 Define financial accounting?...............................................................................3
Question 2 Regulation relating to financial accounting.........................................................3
Question 3 Rules and principles of accounting......................................................................4
Question 4 accounting conventions........................................................................................5
CLIENT 1........................................................................................................................................6
a..............................................................................................................................................6
b..............................................................................................................................................7
c..............................................................................................................................................8
CLIENT 2........................................................................................................................................9
a..............................................................................................................................................9
b..............................................................................................................................................9
CLIENT 3......................................................................................................................................11
a............................................................................................................................................11
b............................................................................................................................................12
c............................................................................................................................................17
CLIENT 5......................................................................................................................................19
a............................................................................................................................................19
CLIENT 6......................................................................................................................................21
CONCLUSION.............................................................................................................................23
REFERENCES..............................................................................................................................25
APPENDIX...................................................................................................................................27
1. Ledger...............................................................................................................................27

INTRODUCTION
Financial accounting principles are the general guidelines and rules of accounting. These
principles give the basis on which the company has to prepare their financial statements. The
present report will help to understand in recording of the business transaction using double
entry book-keeping. The report will presents the final account for a sole trader, partnership or
limited companies. The report presents the methods of depreciation and hoe to apply the
methods with proper example. The report presents the purpose and need of preparing Bank
Reconciliation Statements by preparing a monthly statement. The report also highlights about
the control account and its importance. The files also gives the overview about the suspense
account and its purpose and the difference between suspense account and clearing account. The
report presents the different financial statements to understand the double entry book keeping.
MAIN BODY
Question:1 Define financial accounting?
Financial accounting is a specialized form of accounting which keep a track on company's
financial transactions. It is a field of accounting that treat money for measuring economic
performance. Financial accounting is the process of recording, summarising, analysing and
reporting financial transaction related to business over a period. The transaction recorded are
then shown into a financial statement which consists of balance sheet, income statement and
cash flow statement which are available for public (Mellemvik and Badshah, 2017). People who
are interested in receiving financial statement are stockholders, banks, employees, suppliers etc.
The standard framework is defined in GAAP (Generally Accepted Accounting Principles).
GAAP includes standards, conventions, and rules that are followed by an accountant in
recording, summarising and preparation of financial accounts. Three components of financial
statements are – cash flow statement, statement of profit and loss and balance sheet.
Question 2 Regulation relating to financial accounting
There is a need for regulatory framework for recording financial transactions. So that the
wants of users are met with material information. The information provided is consistent and
comparable. It helps in regulation of directors and company behaviour towards investors. It
helps the user in taking financial decisions. The accounting framework is made up of 3 the
accounting standard set by IASB, company law and the conceptual framework.

 Conceptual framework helps in preparation of concepts for financial statements. It helps
to develop International Financial Reporting Standards and also it deals with the
objective of financial reporting.
 Company law rules are recorded on Company Law 2013.
 IFRS (International Financial Reporting Standards) are planned as global language
commonly used by businesses to handle affairs so that accounts are easily handled and
comparable. IFRS are important framework for those companies who are dealing in
various other countries (Khan, 2015). They have successfully replaced many accounting
standards. The main purpose of accountant is to record, analyse and summarise the
books of accounts which are useful internally and externally.
 The another framework is of US GAAP which are the generally accepted accounting
principles which is a standard framework of recording the transaction on its basis. GAAP
includes various rules, principles, conventions and concepts which are to be followed by
accountant while recording and preparation of financial statements (Jerry and et.al.,
2018). The GAAP is used in USA to prepare financial statements.
Question 3 Rules and principles of accounting
Accounting principles are based on various concepts and convention have evolved during
the years by various accountants. Principles are the general laws and rules which are generally
accepted accounting principles.
Business entity principle
According to this principle, business and its owner are considered as separate in the eye
of law. This concept helps to separate the affairs of business from that of its owners. This
concept states that business is different from its sole proprietors.
Money measurement principle
Only those transactions which can be expressed in financial terms are to be recorded in
the books of accounts. Only monetary transactions are to be included in the books of accounts. It
cannot record any qualitative transactions (Weygandt, Kimmel and Kieso, 2015).
Dual aspect principle
every transaction recorded in the books of accounts have a dual effect. For every debit there is a
credit of equal amount. Accounting is based on double entry system. The basic equation of
accounting is Assets=liabilities + capital

Going concern
This principle states that company is going to continue for foreseeable years and will
come to end if all the members of the company are deceased. The company has eternal life and
will continue for many years with no such end date.
Cost principle
The transactions are recorded on the basis of price which means the price is paid for
them. This principle applies to fixed assets of the company which states that fixed assets are to
be recorded on the basis of their original price only. The price can be reduced by charging
depreciation.
Accounting year principle
Financial statement relates to specific time period. Income statement have a start date
and end date and balance sheets are recorded as on certain date. Every business uses a time
period to record their transactions such as accounting year or calendar year (Miller-Nobles,
Mattison and Matsumura, 2016).
Matching principle
The company uses accrual basis of accounting for recording which means that expenses
should match the revenue. For every entry of revenue in accounting their should be an entry of
expenses, that record correct profit and loss
Realization principle
Profits and revenue are acknowledged as and when the product or service has been sold.
Any advance fee is not considered as profit until the actual delivery of goods and services is
done to buyer.
Question 4 accounting conventions
Convention of consistency
This convention states that the company should follow only one method for recording all
the events happened. Once a method is being adopted by the company then they should not keep
on changing the method but can change only when it is important or law says it. Frequent
changes in the pattern of recording may cause difficulty in the comparison of two statements of
accounting because it will show different profits/ losses (Rodrigues, Carqueja and Ferreira,
2016). The consistency is related to time only and not any other consistency. When there is any

change in the policies of accounting, then company is required to disclose all the facts and
reasons for the change in the method of recoding any event or transaction.
Convention of material disclosure
Materiality means importance. For a transaction to be recorded in a financial statement it is
required to see whether it is important to disclose or not. Firms may not record and reveal the
matters which is minute but firms must disclose every single material fact and figure which is
required to take financial decision (Ijiri, 2014). There should be materiality of accounts and
information. Even a transaction of small amount has to be recorded if it is of small amount as it
mat influence a person in decision making. They are the most important convention which helps
in decision making.
CLIENT 1
a.

b.
Mentioned in appendix.

c.

CLIENT 2
a.
b.
Balance sheet

CLIENT 3
a.

b.
c) The “Consistency” and “prudeuncy” concept of accounting.
Accounting concepts are the basic assumptions on the basis of which financial statements
are prepared. This are the foundation in preparing and maintaining books of records. There are
many accounting concepts made for the preparation of accounting statements. the two main
concepts of accounting are:
 Consistency Concept: It stated that a company which has adopted a accounting method
should follow that method consistently in future also. Same method and technique
should be followed . It is necessary that a company must apply consistently its
accounting method and policies from one fiscal year to another. The company can

change its accounting method only and only there more than a reasonable grounds which
gives a more appropriate picture of financial position of the business in company's
financial statements, and the reason for the change should also be disclosed.
Example: xyz company was using straight line method of depreciation in 1st year than reducing
balance method in 2nd year, in third year a new auditor has been appointed, he noticed that there
is no consistency concept is followed which results in wrong value of fixed assets in balance
sheet from past 2 years. Prudence Concept : preparation of financial statements requires the uses of professional
judgments in the accountancy policies. Prudence concept ids required that accountants
should exercise of caution in the adoption of significant policies so that the assets and
income should not be overrated and liability or expenses should not be underrated. It is
required that expenses or liability should be recorded as soon as possible but the assts or
income will be recorded only when they are assured (Ijiri, 2014). This concepts helps in
the true and fair presentation of financial records and makes the comparability of
financial information possible.
d) The meaning and purpose of depreciation in accounting statements. And two methods of
calculating depreciation.
Depreciation is the reduction in the cost price of any fixed asset over the year in a
systematic manner until the value if the asset become zero. Fixed assets includes building,
furniture, machinery etc. the value of the fixed asset will reduce over the passage of time due to
use and wear or tear. Depreciation of the asset is the method of cost allocation which is based on
the number of factor. It shows the current value of the asset which helps in making balance
sheet of the company according to the current value of fixed asset and gives clear picture of the
financial position. The purpose of depreciation are:
 to match the cost of productive asset to the revenue earned by using the asset.
 To determine the current value of the assets
The two important methods of depreciation are: Straight line method: in this method the cost of fixed asset is decreased uniformly over
the useful life of the assets. It is the most simple method and most commonly used

method of depreciation. This method is appropriate in many situation, but it has some
disadvantage as some assets lose more value in initial year.
Formula:
Depreciation = ( Cost – residual value) X rate of depreciation
where,
Cost is the price of of asset when purchased
Residual value is the expected value of assets from the disposal at the end of its useful life.
Rate of depreciation is the percentage of its total useful life (Miller-Nobles, Mattison and
Matsumura, 2016).
Example:
Company A purchased a machine on 1st jaunary 2015 worth $10000. the expected life period is
5 years at the end when sold for $2500. calculate depreciation for next two years.
Solution:
depreciable amount is $7500 (10000 cost-2500 residual value) useful life is 5 years
depreciation amount of 2015 = 7500 / 20% is $1500
depreciation of 2016= $7500/20% is $1500
 Diminishing Balance Method: in this method the rate of depreciation is fixed, but the
value of assets will be decreasing every year. the amount of depreciation goes on
decreasing every year . This is suitable of the assets whose cost of maintenance is high.
In this method the value of asset can never be zero.
Formula:
Depreciation amount= (net asset value – salvage value) / rate of depreciation
example: a company purchased a machine on january 1st 2013 of rs. 30000 and sold for
5000 on 31st december 2017 ,the rate of depreciation is 10% .calculate the depreciation amount
for two years.
Solution: depreciation of 2014 = 30000-5000/10
depreciation of 2014 = rs.2500
Depreciation of 2015= 27500-500/10
Depreciation of 2015 = rs.2250

CLIENT 4
a) Assessing the purpose of preparing the Bank Reconciliation Statements on monthly basis.
Bank Reconciliation Statement is a statement which is prepared to find and understand
any difference between the balance in bank statements and and in the balance of their accounting
records. The statements outlines, withdrawals and other activity impacting a bank account for a
specific period. These statements are prepared by the company's accountant or book keeper in
order to understand any difference between the bank statements and bank accounts. The purpose
of preparing Bank-reconciliation-statements is:
 By preparing the statements it can be assured that the balance in thew bank statements is
accurate with the balance recorded in the bank accounts.
 Making bank reconciliation statements helps in internal control over the company's cash
of done by someone other than the employees handling and recording receipts and
payments (Jerry and et.al., 2018).
 The statements are important to check any undue delay in the collection and clearance of
some cheques.
 The statements made to check the accuracy of the entries made in both the books and
bank records and to detect and rectify any error if committed in records.
The company should prepare bank-reconciliation-statement on the monthly basis to avoid the
error or omission between the balance of bank statements and the balance in the bank account
records. By preparing the statements on the monthly basis errors can be rectified quickly rather
than done at the time of making general ledger (Weygandt, Kimmel and Kieso, 2015). The bank
sometimes charge the interest for transaction which is not recorded in bank account records or
the interest gives on the saving accounts. Bank-reconciliation-statement on monthly basis will to
correct the balance between both the bank statements and bank account records.
b) Stating the reasons which may cause the difference in balance of bank records and bank
statements.
The reason for the difference between bank statements and company's accounting records
are:
 Outstanding Cheques: whenever a cheque s are issued by the firm a dire ct entries has
been made to the credit of the bank column of cash book. But the bank will debit the cheque

when the cheque has been presented to the bank which can not be done on the same day. This
may cause the changes in the cash book and pass book.
 Service Charges: Bank provides various services to the customers and deduct service
charges from the account. The depositors most of the timer are not aware of the deduction.
These charges create difference as there is no record of this deduction is ,made by the
depositor's cash book.
 Deposit in transit: it means that the amount has been received by the customer but the
bank has not entered the record in the bank statements (Khan, 2015). This create problem as
amount receivable is recorded in cash book but bank statement has not recorded such entry. Errors in recording: there may be certain errors done by company like wrong recording
of transaction of cheques deposit or withdrawals, wrong balancing . In this case there would be
difference between balance as per cash book and pass book.

c.

CLIENT 5
a.

b) The meaning and importance of control account.
In the general ledger there can be hundreds of accounts from income and expenses or
asset and liabilities. It would be difficult to manage and organize all the accounts, there comes a
need to summarize all the related data in a single account. A control account is a general ledger
account that summarize and combines all the subsidiary accounts of a specific type. It helps in
organize the general ledger (Mellemvik and Badshah, 2017). Account receivable and account
payable are most commonly used control account.
The need for preparing control accounts are:
 To keep the general ledger free from details accounts. It would be easy to organize and
manager the trail balance.
 It is essential to facilitates the preparation of profit and loss accounts and balance sheet at
the end of by providing figures quickly.
 It gives better internal checking of the accounts that leads to greater accuracy of records.

CLIENT 6
a) The definition of suspense account and its features.
When a transaction can not be classified it will be recorded in an temporary account which
is called suspense account. The suspense account is recorded in general ledger and all the
unidentified data either in credit or in debit is recorded in suspense account until the company
makes a decision on their classification (Lessambo, 2018). As it is a temporary account, the
company needs to investigate and posted the transaction in the right account. It is necessary
account as some transaction is not clear of its sources, then a suspense account is used to
separate that amount until the right places of the transaction is found.
The features of suspense accounts are:
 At the end of a certain accounting period, while making trail balance if it goes out of
balance like debit can be larger than credit or vice versa, then the difference of the
amount will be recorded in a suspense account. It will be listed as other assets.
 It is a temporary account, one the source of imbalance in the amount of trail balance
will be found, the amount will be transferred to its account and suspense account will
be closed and will no longer be the part of trail balance.
 Suspense account is important to settle the unidentified transactions, it helps record of
the transactions of which customer made the payment or which invoice the customer
wants to pay.
Example of a suspense account can be understood by following examples:
Receiving a partial payment:
Client receives a partial payment of $60 from a customer.
Account debit credit
Suspense account 50
Cash 50
Client receives full payment from the customer.
Account Debit credit
Suspense account 50

Cash 50
B.
d) The difference between suspense account and clearing account.
Suspense Accounts: It is a account in general ledger where the unclassified transaction is
being recorded temporarily until the the proper source of the amount is being determined.
Clearing Account: it is also a temporary account which hold the amount for sometime until
they can be transferred to another account. For example an invoice has prepaid for the payment
to the supplier but the payment has not been done, so the transaction will be shown in credit of
clearing account, once the amount is transferred it will be posted in credit of cash account and
clearing account will be closed.

The difference between suspense and clearing account are:
 Temporary Account: as both are temporarily accounts but there functions are
different. Clearing account is made to hold transaction for sometimes until the
transaction are completely and correctly recorded in its account. And suspense
account is opened when there comes a problem in identifying any transaction or
amount. The unclassified amount will transferred to suspense account until the the
right account is identified.
 Uncertainty: suspense account is used for tracking uncertainty is used for tracking
any uncertainty in the transaction (Ruppel, 2017). Whereas clearing account is made
to tracking the transaction on the temporary basis until the right time comes to record
this in the permanent account.
 Closing of both accounts: Both clearing and suspense accounts are zeroed out
periodically. Everything in the account will be moved to the other account leaving the
account to close permanently. Clearing account will be closed when the transaction is
completed, while suspense account will be closed only when the problem uncertain
amount will be solved.
 Indication: as both accounts are temporary they indicates some transaction are either
incomplete or having a problem of unidentified (Jayaram and et.al., 2018). Clearing
accounts indicates that the transaction is incomplete, whereas suspense account
indicates the resolution in the amount.
CONCLUSION
By summing up the above report it is concluded the importance of accounting principles
for making financial statements. The report shows the making of different financial statement in
double entry book system. The report also mentioned the different accounting concept in brief.
The report also stated the different methods of calculating depreciation with examples. The
purpose of preparing Bank-reconciliation-statement with its importance and need to prepare the
statements with example is concluded in the report. The control account is explained with its
purpose is mentioned in the report. The report presents the main features and importance of
suspense account and how it is different from clearing account is concluded.

REFERENCES
Books and Journals
Basu, S. and Waymire, G., 2017. The Evolution of Double-Entry Bookkeeping.
Ijiri, Y., 2014. The beauty of double-entry bookkeeping and its impact on the nature of
accounting information. Economie Notes by Monte dei Paschi di Siena. 22(2-1993). pp.265-
285.
Jayaram, A. and et.al., 2018. MULTIPARTY RECONCILIATION SYSTEMS AND METHODS.
U.S. Patent Application 15/702,684.
Jerry, J. and et.al., 2018. ACCOUNTING PRINCIPLES. JOHN WILEY & SONS.
Khan, M., 2015. Accounting: Financial. In Encyclopedia of Public Administration and Public
Policy, Third Edition-5 Volume Set (pp. 1-6).
Lessambo, F. I., 2018. Audit Evidence and Documentation. In Auditing, Assurance Services,
and Forensics (pp. 155-182).
Mellemvik, F. and Badshah, I., 2017. Development of accounting and financial reporting
practices in the Islamic Republic of Pakistan. In The Routledge Handbook of Accounting in
Asia (pp. 89-104).
Miller-Nobles, T. L., Mattison, B. and Matsumura, E. M., 2016. Horngren's Financial &
Managerial Accounting: The Managerial Chapters. Pearson.
Rodrigues, L. L., Carqueja, H. O. and Ferreira, L. F., 2016. Double-entry bookkeeping and the
manuscripts dictated in the Lisbon School of Commerce. Accounting history. 21(4). pp.489-
511.
Ruppel, W., 2017. Wiley GAAP for Governments 2017: Interpretation and Application of
Generally Accepted Accounting Principles for State and Local Governments. John Wiley &
Sons.
Weygandt, J.J. Kimmel, P.D. and Kieso, D.E., 2015. Financial & managerial accounting. John
Wiley & Sons.
Online
Bank reconciliation statement. 2018. [Online] Available Through:
https://www.accountingformanagement.org/bank-reconciliation-statement/>.

Financial Accounting Concepts. 2018. [Online] Available Through:
https://accountingexplained.com/financial/principles/prudence>.
Depreciation and its methods. 2018. [Online] Available Through:
https://www.accountingcoach.com/depreciation/explanation>.

APPENDIX
1. Ledger
PURCHASES DAY BOOK
DATE 2017 DETAILS £
Jul-18 S. Lyle 1850 CR EACH INDIVIDUAL
A/C
D Rain 2860
W. Sone 990
R. Foot 1610
May-22 L mole 1830
W Wright 1910
DR PURCHASES A/C 11050
Sales DAY BOOK
DATE 2017 DETAILS £
Jul-18 J Wilsom 1520
DR EACH
INDIVIDUAL
A/C
T cole 1940
F Syme 2980
J Allen 1110

P White 2420
F Steel 770
Jul-18 T cole 1480
J Fox 1910
CR SALES A/C 14130
PURCHASES RETURNS DAY BOOK
DATE 2017 DETAILS £
July
Jul-18 R Foot 500
CR PURCHASES RETURNS A/C 500
Sales RETURNS DAY BOOK
DATE 2017 DETAILS £
May
Jul-18 J Wilson 870

F Syme 910
DR SALES RETURNS A/C 1780
Cash book
DATE
2018 receipts discount
allowed cash bank DATE
2018 Payments discount
Received cash bank
July £ £ £ July £ £ £
July -01 BALANCE B/d 5600 62400 July -
01 storage costs 400
July -16 P mullen 70 1330 July -
04 motor expenses 470
F lane 155 2945 July -
07 drawings 1500
J wilson 43 807 July -
24 s hood 360 3240
F syme 84 1586 j brown 460 4140
r foot 140 1260
July -
27 Salaries 4800
July -
30 Business rates 1320
July -
31 Abel motors ltd 20500
0 July -
31 BALANCE C/f 3630 33408
352 5600 69068 960 5600 69068
Aug-01 BALANCE B/d 3630 33408
S Lyle ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
24-Jul cash book 3240 01-Jul BALANCE B/d 2150
24-Jul Discount gained 360 02-Jul Purchases day book 1850

3600 4000
closed
J BROWN ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
24-Jul cash book 4140 01-Jul BALANCE B/d 4600
24-Jul Discount gained 460
4600 4600
closed
D RAIN ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
31-Jul balance c/f 2860 02-Jul Purchases day book 2860
2860 2860
01-Aug balance b/d 2860
W SONE ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
May-31 balance c/f 990 02-Jul Purchases day book 990

990 990
01-Aug balance b/d 990
R FOOT ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
19-Jul Purchases returns 500 02-Jul Purchases day book 1610
24-Jul cash book 1260
24-Jul discount RECEIVED 140
31-Jul balance c/f -290
1610 1610
01-Aug balance b/d 160
ABEL MOTORS LTD ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
31-Jul cash book 20500 14-Jul Motor van 18500
31-Jul balance c/f 2000
20500 20500
01-Aug balance b/d 2000
L MOLE ACCOUNT

DATE
2017 DETAILS £ DATE
2017 DETAILS £
31-Jul balance c/f 1830 22-Jul Purchases day book 1830
1830 1830
01-Aug balance b/d 1830
W WRIGHT ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
31-Jul balance c/f 1910 Jul-18 Purchases day book 1910
1910 1910
Aug-18 balance b/d 1910
P Games ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
01-Aug BALANCE B/d 1400 16-Jul cash book 1330
16-Jul Discount allowed 70
1400 1400
closed

F STEEL ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
May-01 BALANCE B/d 3100 16-Jul cash book 2945
Jul-18 sales 770 16-Jul discount received 155
31-Jul balance c/f 770
3870 3870
01-Aug BALANCE B/d 770
J WILSON ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
03-Jul sales 1720 11-Jul sales returns 870
16-Jul cash book 807.5
16-Jul discount received 42.5
1720 1720
closed
T COLE ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
03-Jul sales 1940 31-Jul balance c/f 3420
09-Jul sales 1480

3420 3420
01-Aug balance b/d 3420
F SYME ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
03-Jul sales 2980 01-May sales returns 910
01-May cash book 1586.5
01-May discount Received 83.5
2980 2980
close By balance bd 400
J ALLEN ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
03-Jul sales 1110 31-Jul balance c/f 1110
1110 1110
01-Aug balance b/d 1110
P WHITE ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £

Jul-18 sales 2420 Jul-18 balance c/f 2420
2420 2420
Aug-18 balance b/d 2420
J FOX ACCOUNT
DATE
2017 DETAILS £ DATE
2017 DETAILS £
May-09 sales 1910 May-31 balance c/f 1910
1910 1910
Jun-01 balance b/d 1910
SALES ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July -
31 balance c/f 14130 July-
31 sales day book 14130
14130 14130
Aug-
01 balance b/d 14130
PURCHASES ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July-
31 Purchases day book 11050 July-
31 balance c/f 11050
11050 11050

Aug-
01 balance b/d 11050
SALES RETURNS ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July-
31
Sales returns day
book 1780 July -
31 balance c/f 1780
1780 1780
Aug-
01 balance b/d 1780
PURCHASES RETURNS ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July -
31 balance c/f 500 July -
31
purchases returns day
book 500
500 500
Aug-
01 balance b/d 500
STORAGE COSTS ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July -
01 cash book 800 July -
31 balance c/f 800
800 800
Aug-
01 balance b/d 800
MOTOR EXPENSES ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July -
04 cash book 1170 July -
31 balance c/f 1170
1170 1170
Aug-
01 balance b/d 1170
DRAWINGS ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £

July -
07 cash book 2500 July -
31 balance c/f 2500
2500 2500
Aug-
01 balance b/d 2500
DISCOUNT ALLOWED ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July-
31 cash book 351 July -
31 balance c/f 351
351 351
aug-01 balance b/d 351
DISCOUNT RECEIVED ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July-
31 balance c/f 960 July -
31 cash book 960
960 960
Aug-
01 balance b/d 960
SALARIES ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July -
27 cash book 4800 July -
31 balance c/f 4800
4800 4800
Aug-
01 balance b/d 4800
BUSINESS RATES ACCOUNT
DATE
2018 DETAILS £ DATE
2018 DETAILS £
July-
30 cash book 1320 July -
31 balance c/f 1320
1320 1320
AUG-
1 balance b/d 1320
CAPITAL ACCOUNT