[Q1]

Trial Balance for the Year ended 31st December 2018

Debit Credit
$ $
Capital 158,000
Revenue & Purchases 96,000 209,500
Non-Current Assets (Cost):
Land & Buildings 110,000
Motor Vehicles 45,000
Equipment 23,800
General expenses 5,400
Salaries 12,500
Motor Vehicle repairs 2,600
Discount allowed & discount received 800 1,500
Cash 19,300
Bank 67,500
Inventory at 1st January 2018 18,000
Carriage inwards 2,100
Carriage outwards 1,700
Commission received 4,900
Trade receivables & trade payables 65,600 42,000
Insurance 5,500
Electricity 6,900
5% Bank loan 80,000
Interest paid 4,000
Drawings 9,000
Return inwards & return outwards 1,200 1,000
496,900 496,900

Additional Information:
Inventory at 31st December 2018 was $15,000

Required:
1) Prepare the Income Statement for the year ended 31st December 2018.
2) Prepare the Statement Of Financial Position as at 31st December 2018.
[Q2]

Trial Balance for the Year ended 31st March 2019

Debit Credit
$ $
Cash 8,800
Inventory at 1st April 2018 24,000
Commission received 4,100
Carriage inwards 1,100
Revenue & Purchases 72,500 169,400
8% Bank loan 60,000
Interest paid 4,800
Carriage outwards 700
Wages & Salaries 8,500
Rent paid 3,700
Trade receivables & trade payables 42,500 22,800
Telephone charges 1,700
Bank 5,200
Returns inwards & returns outwards 2,400 500
Drawings 4,600
Rent received 7,500
Discount allowed & discount received 2,200 1,400
Marketing 7,400
Non current Assets (Cost):
Equipment 64,000
Delivery Vehicles 48,000
Fixtures & fittings 14,000
Capital 40,000
310,900 310,900

Additional Information:
Inventory at 31st March 2019 was $20,000

Required:
1) Prepare the Income Statement for the year ended 31st March 2019.
2) Prepare the Statement Of Financial Position as at 31st March 2019.
[Q3]

Trial Balance for the Year ended 31st July 2019

Debit Credit
$ $
Inventory at 1st August 2018 12,000
Rent received 5,100
Discount allowed & discount received 1,700 400
Capital 150,000
Drawings 15,000
Wages and salaries 10,400
Heat and light 3,000
Maintenance costs 2,600
Carriage inwards 900
Carriage outwards 1,400
Return inwards & return outwards 3,500 1,800
Non Current Assets (Cost):
Furniture 36,000
Motor Vehicles 54,000
Machinery 26,000
Rent paid 5,500
Insurance 3,800
Trade Receivables & trade payables 37,000 28,500
Revenue & Purchases 65,400 137,900
Cash 10,400
Bank 28,600
Fuel 1,300
Advertising 5,200
323,700 323,700

Additional Information:
Inventory at 31st July 2019 was $25,000

Required:
1) Prepare the Income Statement for the year ended 31st July 2019.
2) Prepare the Statement Of Financial Position as at 31st July 2019.
[Q4]

Trial Balance for the Year ended 31st January 2019

Debit Credit
$ $
Non Current Assets (Costs):
Buildings 150,000
Machinery 37,000
Equipment 21,000
Trade receivables & trade payables 64,800 35,200
Bank 16,600
Commission received 6,400
Telephone charges 2,800
Marketing 5,300
Carriage outwards 2,300
Salaries 7,900
Electricity 4,500
Revenue & Purchases 95,800 199,800
General expenses 2,000
Rent received 7,600
Inventory at 1st February 2018 34,000
Maintenance costs 1,200
Discount allowed & discount received 800 1,500
Carriage inwards 1,700
Return inwards & return outwards - 2,500
Cash 8,500
Drawings 25,000
Capital 195,000
464,600 464,600

Additional Information:
Inventory at 31st January 2019 was $35,000

Required:
1) Prepare the Income Statement for the year ended 31st January 2019.
2) Prepare the Statement Of Financial Position as at 31st January 2019.
[Q5]

Trial Balance for the Year ended 30th April 2019

Debit Credit
$ $
Revenue & Purchases 162,000 190,500
6% Bank loan 120,000
Drawings 13,000
Rent paid 12,500
Discount allowed & discount received 2,400 3,500
Capital 117,000
Advertising 9,000
Carriage inwards 1,500
Trade receivables & trade payables 65,500 42,000
Electricity 7,400
Carriage outwards 1,600
Wages & Salaries 10,600
Inventory at 1st May 2018 18,000
Returns inwards & return outwards 2,500 1,300
Interest paid 7,200
Rent received 8,600
Cash 18,000
Bank 54,700
Non Current Assets (cost):
Delivery Vehicles 56,000
Equipments 30,000
Furniture 15,000
Commission received 4,000
486,900 486,900

Additional Information:
Inventory at 30th April 2019 was $14,000

Required:
1) Prepare the Income Statement for the year ended 30th April 2019.
2) Prepare the Statement Of Financial Position as at 30th April 2019.