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  3. PEARSON (PEARSON)
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  5. Business 2010 QCF
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  7. Unit 6 - Financial Accounting

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Account before adjustment
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These are the account of Jones Haulage Co Ltd before the adjustment. This document is used to complete Unit 6: Financial Accounting P3 M2 It include the Trading, Profit and Loss Account Balance Sheet

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  • March 10, 2019
  • 2
  • 2018/2019
  • Other
  • Unknown

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  • unit 6 financial accounting p3 m2

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Student Name:
Jones Haulage Co Ltd Jone Haulage Co Ltd
Trading, Profit and Loss Account Balance Sheet as at 31/12/2016
For year Ended 31/12/2016
£ £ £ £ £ £
SALES 55,250 Non-Cuurent Assets Cost Acc Dep Net Book Value
MACHINE 30000 10000 20000

Less Cost of Sales VAN 25000 5000 20000

OPENING STOCK 1500 55000 15000 40000

Add: PURCHASES 34500

Current Assets

Less: CLOSING STOCK 0 STOCK

Cost Of Sales 36000 DEBTORS 3200 3200
Gross Profit 19250 LESS PROVISION FOR BAD DEBT

PREPAYMENTS

Less Expenses: BANK 15640

DIRECTORS FEES 780 780 CASH 6480 25320

ELECTRICTY BILL 2500 2500

ADD ACCRUAL Current Liabilities

ADVERTISING 1250 1250 CREDITORS 4600

LESS PREPAYMENT PROPOSED DIVIDENDS 0

WAGES AND SALARIES 4000 4000 ACCRUALS 0 4600

ADD ACCRUAL WORKING CAPITAL 20720

BAD DEBT TOTAL NET ASSETS 60720
PROVISION FOR BAD DEBT
VAN DEPRECIATION FINANCED BY:
MACHINERY DEPRECIATION SHARE CAPITAL 30000

Total Expenses 8530 RESERVES 15000

Net Profit 10720 PROFIT 15720

Plus Unappropriated Profit b/f EQUITY 60720

Accumulated Net Profit 10720

Less Proposed Dividends 0
Unappropriated Profit 10720

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