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Financial Accounting 2 Assignment 2

1. Brave Warriors FC's trading account for the period ending March 31, 2013 shows a gross profit of $20,475 and expenses of $3,310, resulting in a net profit of $17,165. 2. Brave Warriors FC's income and expenditure statement for the period ending March 31, 2013 lists total income of $105,410 and total expenditures of $44,800, leaving a closing accumulated fund balance of $60,500. 3. Brave Warriors FC's statement of financial position as of March 31, 2013 includes total assets of $133,410 consisting of non-current and current assets. Total equity is $121,110 with liabilities of $12,300

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534 views3 pages

Financial Accounting 2 Assignment 2

1. Brave Warriors FC's trading account for the period ending March 31, 2013 shows a gross profit of $20,475 and expenses of $3,310, resulting in a net profit of $17,165. 2. Brave Warriors FC's income and expenditure statement for the period ending March 31, 2013 lists total income of $105,410 and total expenditures of $44,800, leaving a closing accumulated fund balance of $60,500. 3. Brave Warriors FC's statement of financial position as of March 31, 2013 includes total assets of $133,410 consisting of non-current and current assets. Total equity is $121,110 with liabilities of $12,300

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Bhodza
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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FINANCIAL ACCOUNTING 2

ASSIGNMENT 2

DUE DATE: 23 MARCH 2015

1.

Brave Warriors FC Trading Account for period ending 31 March 2013


Sales
Opening Stock
Purchases
Closing Stock
Cost of goods sold
Gross Profit
Expenses
Wages
Profit

44125
5620
22350
(4320)
23650
20475
(3310}
17165

Brave Warriors FC Income and Expenditure for period ending 31 March 2013
Income
Subscriptions(79056-3800+6920)
Profit from Raffles
Profit from Bar
Donations
Expenditure
Rent (16000-4000)
Depreciation: Motor Van
Furniture
Grounds man wages
Telephone
Printing
Motor Vehicle
Electricity

$
82176
3149
17165
2920
105410
12000
8000
45000
2431
2709
3940
4970
6250

Opening Balance Accumulated

44800
60610
60500

fund
Closing Balance Accumulated fund

121110

Brave Warriors FC Statement of Financial Position as at 31 March 2013


Non Current assets
Motor Van
Total
Current Assets
Inventory
Furniture
Debtors Accumulated Subs
Prepayments
Bank
Cash
Total Current Assets

Total Assets
Equity and Liabilities

56000
56000
4320
31500
6920
4000
29650
1020
77410

133410

Equity
Accumulated Fund
Total Equity

121110
121110

Liabilities
Creditors
Motor Van Expenses
Prepaid Subs
Total Liabilities

7250
1250
3800
12300

Total Equity and Liabilities

121110

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