The following extracts were made from the books and records of Sandy Dandy for the year...
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The following extracts were made from the books and records of Sandy Dandy for the year ended 31 December 2005: 1. Cash book summary Opening balance Cash sales Interest Additional capital introduced Rental of premises Trade creditors(all for purchases) Telephone and postage Trade debtors (all in respect of sales) Office furniture (purchased 1 July 2005) Carriage inwards Drawings Printing and stationery Salaries (office) Insurance Closing balances Receipt R 36 280 890 25 000 77 470 Payments R 13 600 2. Extracts from ledger balances 470 2 220 48 875 2160 2 900 4980 16 675 450 14 800 3 840 28 670 139 640 139 640 Opening Closing balances balances 01/01/2005 31/12/2005 Trade debtors Trade creditors Capital account-Sandy Dandy Stock Accruals Telephone Rent Carriage inwards Prepayment Rent Insurance. Office furnisher and equipment Office furnisher and equipment R 9 680 8 190 1 800 9 800 Required 110 490 180 1730 6 230 Accumulated depreciation 3 430 R 10 930 9 770 7 245 NB: Comparitive figures are not required 220 190 3. Additional information • Office furnisher and equipment is to be depreciated at 10% p.a (reducing balance method). • Additions during the year are depreciated at half the annual rate. Debts totalling R1 725 are considered to be bad and are to be written off. Sandy agreed to provide a bonus of R770 for the bookkeeper. • 2 220 (a) Income statement for the year ended 31 December 2005. (b) Balance sheet at 31 December 2005. The following extracts were made from the books and records of Sandy Dandy for the year ended 31 December 2005: 1. Cash book summary Opening balance Cash sales Interest Additional capital introduced Rental of premises Trade creditors(all for purchases) Telephone and postage Trade debtors (all in respect of sales) Office furniture (purchased 1 July 2005) Carriage inwards Drawings Printing and stationery Salaries (office) Insurance Closing balances Receipt R 36 280 890 25 000 77 470 Payments R 13 600 2. Extracts from ledger balances 470 2 220 48 875 2160 2 900 4980 16 675 450 14 800 3 840 28 670 139 640 139 640 Opening Closing balances balances 01/01/2005 31/12/2005 Trade debtors Trade creditors Capital account-Sandy Dandy Stock Accruals Telephone Rent Carriage inwards Prepayment Rent Insurance. Office furnisher and equipment Office furnisher and equipment R 9 680 8 190 1 800 9 800 Required 110 490 180 1730 6 230 Accumulated depreciation 3 430 R 10 930 9 770 7 245 NB: Comparitive figures are not required 220 190 3. Additional information • Office furnisher and equipment is to be depreciated at 10% p.a (reducing balance method). • Additions during the year are depreciated at half the annual rate. Debts totalling R1 725 are considered to be bad and are to be written off. Sandy agreed to provide a bonus of R770 for the bookkeeper. • 2 220 (a) Income statement for the year ended 31 December 2005. (b) Balance sheet at 31 December 2005.
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Financial Accounting and Reporting
ISBN: 978-1292162409
18th edition
Authors: Barry Elliott, Jamie Elliott
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