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Summary LPC Solicitors Accounts: Master Ledger of Worked Examples - Distinction (99%) $5.85   Add to cart
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Summary

Summary LPC Solicitors Accounts: Master Ledger of Worked Examples - Distinction (99%)

12 reviews
 1439 views  77 purchases
  • Course
  • Solicitors Accounts
  • Institution
  • BPP University College Of Professional Studies Limited (BPP)

A comprehensive summary of all ledger entries covered and required for the Solicitors Accounts exam in a complete worked example. Notes used to achieve a distinction result of 99%.

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Document information

  • June 10, 2019
  • 3
  • 2018/2019
  • Summary

Subjects

  • solicitors accounts
  • ledger
  • account of costs
  • client account
  • office account
  • disbursements
  • bill of costs
  • profit costs
  • bad and doubtful debts
  • lpc

Written for

  • BPP University College Of Professional Studies Limited (BPP)
  • Legal Practice Course
  • Solicitors Accounts
All documents for this subject (6)

12  reviews

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By: hasretd • 1 year ago

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By: kokosher • 3 year ago

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By: laiba_baig • 3 year ago

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By: josephhwrd5 • 3 year ago

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By: toutael-sharkawi • 2 year ago

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By: ipa55 • 3 year ago

bit confusing to follow

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By: amylowrie123 • 4 year ago

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Content preview

Mr X: Property Purchase
Office Ledger Client Ledger
Type Instructions Date Details DR CR Balanc DR CR Balance
e
Account of Sends cheque on 1 Client Cash 1,000
Costs account of costs May (Cheque from
generally client on account
of costs generally)
Sends cheque in 2 Office Cash 50
settlement of bill May (Cheque for profit 0
of costs costs and VAT)
Transfer from You transfer the 21 Client Cash 300
client to office amount required May (Transfer to Office
to pay your bills. Account)
21 Office Cash 30
May (Transfer from 0
Client Account)
Disbursements You pay a land 11 Client Cash 140
registry fee of May (Land Registry
£100 fee)
You pay an Env. 12 Office Cash 50
Search fee of May (Payment of Env.
£50 + VAT Search Agency
fee: VAT of £10 to
be charged to
client in due
course)
Client requests 13 Client Cash 120
you pay survey May (Survey fee
fee plus VAT inclusive of VAT)
Client sends 7 Client Cash 200
cheque for May (Cheque for
counsel’s fees payment of
(not yet counsel’s fees)
invoiced)
Client sends 7 Office Cash 20
cheque for May (Cheque in 0
counsel’s fees settlement of
(already paid) counsel’s fees)
Third Party A third party 3 Cheque received
Cheque sends a cheque May from Y Limited,
to you payable forwarded to Mr
to your client X
Bill of Costs You render a bill 6 Profit Costs 10
of costs of £200 May (Bill of costs to 0
plus VAT. client: Mr X)
6 VAT Account 20
May (VAT on bill of
costs to client: Mr
X)
You render a bill 6 Profit Costs 10
of costs of £100 May (Bill of costs to 0
plus VAT for client for acting
acting for the for The Bank)
bank (no 6 VAT Account 20
separate ledger) May (VAT on bill of
costs for acting
for The Bank)

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