Anya's Bookstore Part D - Year 4 of Operations During the 4h year (2018) of operation,...

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Anya's Bookstore Part D - Year 4 of Operations During the 4h year (2018) of operation, Anya plans to start manufacturing her own range of re-usable book bags which she plans to start selling. The bookstore has the following transactions: 1. April 15th: usable book bags to sell. 2. May 15th. is owed £1,500. 3. May 30th: required for making the book bags. 4. June 15th. Purchased £2,000 of raw material on account, to manufacture re- A new staff member sewed together the book bags. The employee Paid £750 cash on direct manufacturing overheads (e.g. utilities) Paid the employee the £1,500 owed for making the book bags. Anya decides to sell the delivery van – receiving £10,000 in cash. 5. June 30th. The depreciation charge for the six-months of June is £750. The delivery van had a total accumulated depreciation of £2,250 at the time of its sale. 6. July 20th: the book bags was £6 each. 7. 31st October: Anya has completed the subscription service from November 1st Year Sold 10 book bags for £15 cash each. The cost of manufacturing 8. December 31st: A physical count of the manufacturing inventory indicates that Anya has £600 of raw material on hand, £500 of work-in-process and has completed manufacturing £3,090 worth of book bags. 9. December 31st : Provide depreciation £1,000 on storage furniture 10. December 31st: Paid interest on the bank loan of £3,000 11. December 31st: Record the portion of the prepaid shop building insurance used in Year 4 (paid July 1st Year 3) Record these transactions in the Year 4 worksheet provided below. Prepare the income statement, balance sheet and cash flow statement. Anya's Bookstore Part C - Year 3 of Operations During the 3rd year (2017) of operation, Anya plans to add magazines for subscription from November 2017 onwards. The bookstore has the following transactions: 1. January 21st : Purchased books and magazines on credit for £35,000 2. March 23rd on credit and the rest for cash. The credit was due on November 30 and if not received will incur an interest charge of 2% of outstanding per month. 3. April 29th 4. May 19th 5. July 1st commencing July 1st 2017. 6. August 7th paid 7. November 1st : Received £12,000 towards annual subscription of magazines (Period - November 2017 to October 2018). The magazines cost Anya's bookstore £6,000 for a year and are already present in the inventory. 8. December 31st : Interest @ 2% p.m. due from debtor (to whom goods were sold on March 23rd). The invoice has not been sentyet. 9. December 31st : Electricity expenses estimated to be £3,000. Bill not yet received 10. December 31st : Paid interest on the bank loan of £3,000 11. December 31st : Provide depreciation £1,000 on storage furniture 12. December 31st Anya used the straight-line depreciation method – and estimates depreciation of £1,500 on the delivery van. :Sold books (originally costing £30,000) for £75,000, of which 20,000 : Paid £50,000 to creditors : Collected £10,000 from debtors from prioryears. : Paid shop building insurance expenses for 2 years £2,000 : Dividend declared in previous year and Taxes from previous year Record these transactions in the Year 3 worksheet provided below. Prepare the income statement and balance sheet. Anya's Bookstore Part B - Year 2 of Operations During the 2nd year (2016) of operation the bookstore has the following transactions: 1. January 15th: Purchased books on credit for £50,000 2. March 13th : Sold books (originally costing £35,000) for £55,000, of which 30,000 on credit and the rest for cash 3. May 30th 4. June 9th 5. December 31st: Anya purchased a used delivery van for £15,000 in cash to help make deliveries to customers. Anya expects the car will last 10 years, and have zero residual value at the end of its life. : Paid £40,000 to creditors : Collected £10,000 from debtors 6. December 31st : Paid electricity bill £2,000 7. December 31st : Rental expenses of £3,000 paid in cash 8. December 31st : Bought storage furniture for £8,000 in cash. 9. December 31st : Paid interest on the bank loan of £3,000 10. December 31st : Tax (at a rate of 30%) is payable on the pre-tax profit but will be paid next year. 11. December 31st: Declared dividend of £1,000, but not paid yet. Record these transactions in the Year 2 worksheet provided below. Prepare the income statement and balance sheet. Anya's Bookstore Year 4 - Worksheet (Assets) Assets Work- Tran. No. Trans. Date Proper. Plan & Prepayments Equip. Accrued Income Raw Finished Cash | Inventory Accounts Receivable Transaction Details In- (Stocks) Materials Goods Process Opening balance Purchase 1 Apг-15 Direct Labour May-15 May-30 Manufacturing Overhead 3 Pay employee Van depreciation 4 Jun-15 Jun-30 Loss on sale of Van 5 Jun-30 Sell book-bags Sell book-bags 6 Jul-20 6. Jul-20 Subscription revenue earned 7 Nov-01 Subscription cost of sales Stock-take 7 Nov-01 8 Dec-31 Furniture depreciation 9 Dec-31 Interest Expense 10 Dec-31 Shop insurance Transfer to Retained Earnings | Closing 11 Dec-31 Closing Balances 19 Anya's Bookstore Year 4 - Worksheet (Liabilities & Equity) Liabilities S/H Funds Tran Trans. Dividend Таx Accounts Bank | Accrued Unearned Salary Share P&L R/E Revenue Payable Capital Account Transaction Details No Date Payable Payable Payable Loan liability Opening balance Purchase 1 Apr-15 May-15 May-30 Direct Labour Manufacturing Overhead 3 Pay employee Van depreciation 4 Jun-15 Jun-30 Loss on sale of Van 5 Jun-30 Sell book-bags 6 Jul-20 Sell book-bags Jul-20 Subscription revenue earned Nov-01 Subscription cost of sales 7 Nov-01 Stock-take 8 Dec-31 Furniture depreciation Dec-31 Interest Expense 10 Dec-31 Shop insurance 11 Dec-31 Transfer to RE Closing Closing Balances Anya's Bookstore Part D - Year 4 of Operations During the 4h year (2018) of operation, Anya plans to start manufacturing her own range of re-usable book bags which she plans to start selling. The bookstore has the following transactions: 1. April 15th: usable book bags to sell. 2. May 15th. is owed £1,500. 3. May 30th: required for making the book bags. 4. June 15th. Purchased £2,000 of raw material on account, to manufacture re- A new staff member sewed together the book bags. The employee Paid £750 cash on direct manufacturing overheads (e.g. utilities) Paid the employee the £1,500 owed for making the book bags. Anya decides to sell the delivery van – receiving £10,000 in cash. 5. June 30th. The depreciation charge for the six-months of June is £750. The delivery van had a total accumulated depreciation of £2,250 at the time of its sale. 6. July 20th: the book bags was £6 each. 7. 31st October: Anya has completed the subscription service from November 1st Year Sold 10 book bags for £15 cash each. The cost of manufacturing 8. December 31st: A physical count of the manufacturing inventory indicates that Anya has £600 of raw material on hand, £500 of work-in-process and has completed manufacturing £3,090 worth of book bags. 9. December 31st : Provide depreciation £1,000 on storage furniture 10. December 31st: Paid interest on the bank loan of £3,000 11. December 31st: Record the portion of the prepaid shop building insurance used in Year 4 (paid July 1st Year 3) Record these transactions in the Year 4 worksheet provided below. Prepare the income statement, balance sheet and cash flow statement. Anya's Bookstore Part C - Year 3 of Operations During the 3rd year (2017) of operation, Anya plans to add magazines for subscription from November 2017 onwards. The bookstore has the following transactions: 1. January 21st : Purchased books and magazines on credit for £35,000 2. March 23rd on credit and the rest for cash. The credit was due on November 30 and if not received will incur an interest charge of 2% of outstanding per month. 3. April 29th 4. May 19th 5. July 1st commencing July 1st 2017. 6. August 7th paid 7. November 1st : Received £12,000 towards annual subscription of magazines (Period - November 2017 to October 2018). The magazines cost Anya's bookstore £6,000 for a year and are already present in the inventory. 8. December 31st : Interest @ 2% p.m. due from debtor (to whom goods were sold on March 23rd). The invoice has not been sentyet. 9. December 31st : Electricity expenses estimated to be £3,000. Bill not yet received 10. December 31st : Paid interest on the bank loan of £3,000 11. December 31st : Provide depreciation £1,000 on storage furniture 12. December 31st Anya used the straight-line depreciation method – and estimates depreciation of £1,500 on the delivery van. :Sold books (originally costing £30,000) for £75,000, of which 20,000 : Paid £50,000 to creditors : Collected £10,000 from debtors from prioryears. : Paid shop building insurance expenses for 2 years £2,000 : Dividend declared in previous year and Taxes from previous year Record these transactions in the Year 3 worksheet provided below. Prepare the income statement and balance sheet. Anya's Bookstore Part B - Year 2 of Operations During the 2nd year (2016) of operation the bookstore has the following transactions: 1. January 15th: Purchased books on credit for £50,000 2. March 13th : Sold books (originally costing £35,000) for £55,000, of which 30,000 on credit and the rest for cash 3. May 30th 4. June 9th 5. December 31st: Anya purchased a used delivery van for £15,000 in cash to help make deliveries to customers. Anya expects the car will last 10 years, and have zero residual value at the end of its life. : Paid £40,000 to creditors : Collected £10,000 from debtors 6. December 31st : Paid electricity bill £2,000 7. December 31st : Rental expenses of £3,000 paid in cash 8. December 31st : Bought storage furniture for £8,000 in cash. 9. December 31st : Paid interest on the bank loan of £3,000 10. December 31st : Tax (at a rate of 30%) is payable on the pre-tax profit but will be paid next year. 11. December 31st: Declared dividend of £1,000, but not paid yet. Record these transactions in the Year 2 worksheet provided below. Prepare the income statement and balance sheet. Anya's Bookstore Year 4 - Worksheet (Assets) Assets Work- Tran. No. Trans. Date Proper. Plan & Prepayments Equip. Accrued Income Raw Finished Cash | Inventory Accounts Receivable Transaction Details In- (Stocks) Materials Goods Process Opening balance Purchase 1 Apг-15 Direct Labour May-15 May-30 Manufacturing Overhead 3 Pay employee Van depreciation 4 Jun-15 Jun-30 Loss on sale of Van 5 Jun-30 Sell book-bags Sell book-bags 6 Jul-20 6. Jul-20 Subscription revenue earned 7 Nov-01 Subscription cost of sales Stock-take 7 Nov-01 8 Dec-31 Furniture depreciation 9 Dec-31 Interest Expense 10 Dec-31 Shop insurance Transfer to Retained Earnings | Closing 11 Dec-31 Closing Balances 19 Anya's Bookstore Year 4 - Worksheet (Liabilities & Equity) Liabilities S/H Funds Tran Trans. Dividend Таx Accounts Bank | Accrued Unearned Salary Share P&L R/E Revenue Payable Capital Account Transaction Details No Date Payable Payable Payable Loan liability Opening balance Purchase 1 Apr-15 May-15 May-30 Direct Labour Manufacturing Overhead 3 Pay employee Van depreciation 4 Jun-15 Jun-30 Loss on sale of Van 5 Jun-30 Sell book-bags 6 Jul-20 Sell book-bags Jul-20 Subscription revenue earned Nov-01 Subscription cost of sales 7 Nov-01 Stock-take 8 Dec-31 Furniture depreciation Dec-31 Interest Expense 10 Dec-31 Shop insurance 11 Dec-31 Transfer to RE Closing Closing Balances

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Van Cost 15000 Accumulated D... View the full answer