Summary
Summary P3 UNIT 6
- Institution
- Pearson (PEARSON)
Summary of 2 pages for the course Unit 6 - Financial Accounting at PEARSON (P3 UNIT 6)
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Courtney LowesUnit 6
P3
Details Trial Balance Adjustments Income Statement Balance Sheet
DR CR DR CR DR CR DR CR
Sales £141,110 £141,110
Opening Inventory £23,100 £23,100
Purchases £74,090 £74,090
Wages £6,700 £6,700
Rent/Rates £5,800 £5,800
Electricity £560 £210 £770
Telephone £420 £420
Sundry Expenses £2,420 £2,420
Fixtures/Fittings £4,000 £4,000
Provision for Depreciation £1,200 £400 £1,600
Fixtures/Fittings
Cash at Bank £4,200 £4,200
Cash in Hand £2,010 £2,010
Trade Payables £4,380 £4,380
Capital £13,000 £13,000
Drawings £36,390 £36,390
Closing Inventory £25,120 £25,120
(Balance Sheet)
Closing Inventory £25,120 £25,120
(Income Statement)
Depreciation Expense £400 £400
Accrual £210 £210
Profit for the Year £52,530 £52,530
Totals £159,690 £159,690 £25,730 £25,730 £166,230 £166,230 £71,720 £71,720
Electricity/Accrual Adjustment:The adjustment shown in the table above occurred due to being an outgoing figure that hasn’t being
debited out yet.This makes it an expense that is accrued as the money has been spent but has not yet being paid. Due to this
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