Maurice has two gilt shops. He does not keep full accounting records but is able to provide
Question:
Maurice has two gilt shops. He does not keep full accounting records but is able to provide the following information for the year ended 31 March 2015.
The list of balances at 1 April 2014 and 31 March 2015 is:
Maurice has provided the following additional information.
The cash takings for the year were $41,850. Before paying this money into the bank, Maurice used some of the cash received to pay for casual staff wages of $400 per month and personal drawings of $300 per month. Unfortunately, Maurice believes that some cash has been stolen during March but does not know how much.
a. Prepare the cash account to calculate the amount of stolen cash.
b. Prepare the sales ledger control account to calculate the amount of credit sales during the year.
c. Prepare the purchases ledger control account to calculate the amount of purchases during the year.
d. Prepare an income statement for the year ended 31 March 2015 and a statement of financial position at that date.
Step by Step Answer:
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone