<p> 4th POA Work January 2015</p><p>1. Enter each transaction in the double-entry accounts for the month of September, balance off the accounts and then extract a trial balance as at 30 September 20X7.</p><p>20X7 September 1 Started business with £1,000 cash September 3 Paid £800 of cash into bank account September 7 Bought goods on credit from: M Wilson £40 and S Halls £78 September 10 Bought office supplies for £24 cash September 12 Sold goods on credit to: K Curnock £87 and A Hynam £95 September 15 Returned goods to Halls worth £12 September 16 Paid wages by cheque £140 September 20 Bought office fixtures for £350 paying by cheque September 25 Cash sales made for £34 September 30 Sent cheque to Wilson for £40</p><p>2. You are required to enter up the necessary accounts based on the following information. All accounts should be balanced off and a trial balance should be extracted as at 31 October 20X8.</p><p>20X8 October 1 Started business with £5,000 deposited in bank October 4 Purchased delivery van for £1,800 paying by cheque October 5 Bought office equipment on credit from Eves Ltd for £800 October 8 Paid for advertising £54 cheque October 11 Withdrew £300 cash from bank October 14 Bought stock on credit from: S Gabriel £56 and S Phipps £76 October 16 Returned stock to Gabriel worth £10 October 19 Sold goods on credit to: S Suckling £113 and C Dimmock £89 October 21 Paid for stationery £23 cash October 22 Withdrew £275 from bank for personal use October 25 Paid rent £270 paying by cheque October 26 Goods retuned by Suckling worth £27 October 29 Sales made on credit to J Rudling for £96 October 30 Commission received by firm: £29 cash</p><p>3. Enter the following transactions in the accounts and extract a trial balance as at 31 December 20X6.</p><p>Dec 1 Started business with £5,000 cash and placed £2,000 of this straight into a bank account. Dec 2 Bought goods on credit from A Askey for £560. Dec 3 Returned goods worth £140 to Askey Dec 6 Bought fixtures for £1,100, paying by cheque. Dec 8 Sold goods on credit for £40 to H Armitage Dec 10 Sold goods for £104 cash. Dec 14 Paid office rent of £90 paying by cheque Dec 18 Withdrew £80 cash from the firm for owner’s own use Dec 21 Paid advertising £76 paying in cash Dec 24 Armitage retuned goods worth £12.</p><p>4 From the following trial balance of M Dawe, after his first year’s trading, you are asked to draw up an income statement for the year ended 31 March 20X2.</p><p>Dr Cr £ £ Sales 23,414 Purchases 16,111 Capital 40,000 Accounts receivable 6,019 Accounts payable 5,645 Bank 3,765 Cash in hand 129 Premises 27,000 Fixtures and fittings 7,500 Equipment 4,000 Wages 1,900 Motor vehicles 279 Drawings 1,400 Sundries 456 Rent 500 69,059 69,059</p><p>Inventory as at 31 March 20X2 was £4,344.</p><p>1. From the following trial balance of C Roddy, after her first year’s trading, you are asked to draw up an income statement for the year ended 30 June 20X4.</p><p>Dr Cr £ £ Sales 11,3321 Purchases 98,777 Capital 68,744 Accounts receivable 6,019 Accounts payable 5,645 Bank 6,554 Cash in hand 443 Premises 50,000 Fixtures and fittings 10,000 Equipment 12,500 Advertising 894 Wages 6,555 Drawings 5,444 Sundries 577 Rent 1,855 Insurance 1,200 194,264 194,264</p><p>Inventory at the end of the year was valued at £9,887</p><p>2. From the following trial balance of N Briggs, after his first year’s trading, you are asked to draw up an income statement for the year ended 31 December 20X7.</p><p>Dr Cr £ £ Sales 17,665 Purchases 12,332 Capital 55,000 Accounts receivable 4,353 Accounts payable 3,477 Bank 2,101 Cash in hand 90 Premises 35,000 Equipment 7,450 Vehicles 8,700 Wages 1,900 Motor expenses 461 Drawings 2,500 Rent 500 Insurance 755 76,142 76,142</p><p>Inventory as at 31 December 20X7 £8,997</p><p>3. From the following trial balance of S Thompson, you are asked to draw up an income statement for the year ended 31 March 20X2 and a balance sheet as at that date.</p><p>Dr Cr £ £ Sales 16,8000 Purchases 99,995 Inventory as at 1 April 20X1 4,330 Premises 75,000 Equipment 18,500 Carriage inwards 230 Carriage outwards 195 Returns inwards 375 Bank 5,995 Cash in hand 877 Wages 9,500 Insurance 750 Advertising 205 Motor repairs 590 Capital 76,850 Drawings 11,540 Returns outwards 560 Vehicles 12,000 Accounts receivable 8,950 Accounts payable 11,560 Sundries 328 Rent 3,260 Rates 4,350 25,6970 25,6970 Inventory as at 31 March 20X2 was valued at £11,855 </p><p>4. From the following trial balance of A Dolphin, you are asked to draw up an income statement for the year ended 31 December 20X3 and a balance sheet as at that date.</p><p>Dr Cr £ £ Sales 108,000 Purchases 82,190 Carriage inwards 555 Carriage outwards 490 Wages 9,255 Insurance 542 Returns inwards 180 Returns outwards 212 Drawings 4,600 Premises 34,000 Equipment 8,600 Accounts receivable 4,850 Accounts payable 3,433 Bank 3,250 Cash in hand 123 Sundries 500 Inventory as at 1 January 20X3 7,950 Rent 1,200 Rates 860 Capital 47,500 159,145 159,145</p><p>Inventory as at 31 December 20X3 £8,990</p><p>5. From the following data construct a trading account for the year ended 31 March 20X5.</p><p>£ Sales 13,221 Purchases 8,787 Inventory as at 1 April 20X4 3,241 Inventory as at 31 March 20X5 2,359 Returns inwards 674 Returns outwards 563 Carriage inwards 321 6. From the following data construct a trading account for the year ended 31 December 20X4.</p><p>£ Sales 194,000 Purchases 161,323 Opening inventory 18,767 Closing inventory 21,002 Returns outwards 897 Carriage inwards 874</p><p>1. Write up the two-column cashbook for the following details and balance it off at the end of the month.</p><p>20X3 May 1 Balances brought forward from April: Cash £54, Bank £140 May 4 Paid advertising costs by cheque, £32 May 6 Cash purchases £25 May 11 Received cheque from M Swann, £90 May 14 Took £45 cash out of bank account May 17 Paid sundry expenses £34 cash May 20 Paid cheque to M Lyne £72 May 22 Cash sales £95 May 24 Paid £55 cash into bank May 28 Borrowed £205 from N Jackson – received money by cheque</p><p>2. A three-column cashbook is required fro the following month from the following transactions. The cashbook should be balanced off at the end of the month and the totals should be transferred to the relevant discount accounts in the general ledger.</p><p>20X5 October 1 Balances brought forward: Cash £115, Bank £290 (Cr.) October 3 Paid creditors by cheque; G Denton £440 L Lewis £120 (before discount) and received a 5% discount on invoice totals. October 5 Cash sales £489 October 9 Paid £300 cash into bank account October 13 Received cheques from suppliers for accounts totals as follows: R Moore £264, L Webster £360 and C Webb £120, in each case allowing a 2.5% discount. October 19 Cash purchases £78 October 20 Paid rent by cheque £56 October 22 Received cheque of £90 from H Kasim in settlement of sales worth £95. October 25 Cash withdrawn from bank for personal use £100 October 29 Paid D Doyle by cheque for £85 in settlement of £95 account balance. October 30 Received commission by cheque £46 3. Write up a two-column cash book from the following data and balance it off at the end of the month.</p><p>Jan 1 Balances: £45 Cash and £54 at Bank Jan 2 Sold goods for £135 cash Jan 3 Paid creditor R Perrin £127 by cheque Jan 5 Paid advertising expenses £12 by cheque Jan 8 Received cheque for rent received £87 Jan 14 R Rigsby paid us cheque for £89 Jan 17 Paid wages £49 in cash Jan 21 Withdrew £76 in cash from bank Jan 25 Paid creditor S McLean £32 by cheque</p><p>1. You are to enter up the Sales Day Book from the following details. Post the items to the relevant accounts in the sales ledger and show the sales account as it would be found in the general ledger.</p><p>20X1 £ May 1 Credit sales to I Curtis 90 May 5 Credit sales to B Sumner 45 May 11 Credit sales to G Gilbert 114 May 18 Credit sales to S Morris 87 May 21 Credit sales to P Hook 55 May 31 Credit sales to T Wilson 32</p><p>2. You are to enter up the Sales Day Book from the following details. Post the items to the relevant accounts in the sales ledger and show the sales account as it would be found in the general ledger.</p><p>20X3 £ June 1 Credit sales to P Oakey 432 June 5 Credit sales to G Gregory 390 June 11 Credit sales to M Ware 234 June 18 Credit sales to A Wright 758 June 21 Credit sales to I Marsh 250 June 31 Credit sales to I Burdon 540</p><p>3. S Mallinder of 27 Tadcaster Road is selling the following items at the recommended retail prices:</p><p>Aluminium sheet £50 per metre Rolled copper wire £100 per metre</p><p>He makes the following sales; 20X2 July 1 To A Powell, 58 Oxford Road, Glossop: 12 metres aluminium and 2 meters copper wire. Less 25% trade discount July 8 To C Burkinshaw, 2 St Edwards Road, Sheffield: 5 meters aluminium and 5 meters copper wire. Less 20 % trade discount.</p><p>You are required to:</p><p>(a) Draw up a sales invoice for both transactions. (b) Enter them up in the Sales Day Book and post them to the personal accounts (c) Transfer the total to the sales account.</p><p>1. The following is a summary of the petty cash transactions for Voltaire Ltd for June 20X3.</p><p>20X3 June 1 Received from petty cashier £400 as petty cash float</p><p>£ June 2 Rail fares 17 June 4 Petrol 8 June 8 Stationery 4 June 10 Cleaning 11 June 11 Bus fares 3 June 15 Stationery 7 June 18 Petrol 16 June 21 Cleaning 10 June 22 Bus fares 4 June 25 Cleaning 2 June 28 Stationery 5 June 30 Petrol 6</p><p>(a) Rule up a petty cashbook with analysis columns for expenditure on cleaning, travel expenses and stationery. (b) Enter the month’s transactions (c) Enter the receipt of the amount necessary to restore the imprest and carry down the balance for the commencement of the following month.</p><p>2. Rule up a petty cashbook with analysis columns for travel costs, casual labour and stationery. The cash float at the start of each month is £120 and the imprest system is maintained at the end of the month.</p><p>£ May 1 Paper clips 3 May 6 Petrol 11 May 9 Cleaner’s wages 9 May 10 Rail fares 15 May 11 Window cleaner’s wages 4 May 15 Copy paper 3 May 17 Petrol 5 May 22 Misc. stationery costs 9 May 27 Bus fares 6 May 29 Cleaner’s wages 13 3. Rule up a petty cashbook with analysis columns for travel costs, miscellaneous and stationery. The cash float at the start of each month is £150 and the imprest system is maintained at the end of the month.</p><p>£ Apr 02 Stationery 4 Apr 05 Bus fares 8 Apr 10 Coffee 3 Apr 12 Photocopying 12 Apr 18 Rail ticket 23 Apr 21 Printer cartridge 34 Apr 23 Petrol 16 Apr 25 Bus fares 2 Apr 29 Cleaning sundries 7 Apr 30 Petrol 19</p>