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    Solution Hexham Plc

    Uploaded by

    oybekjon2701
    hkj

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Solution Hexham Plc

    Uploaded by

    oybekjon2701
    16 views4 pages
    hkj

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

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    hkj

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    16 views4 pages

    Solution Hexham Plc

    Uploaded by

    oybekjon2701
    hkj

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Trial Balance Adjustments Adjusted Trial Balance Profit and Loss

    Account Debit Credit Debit Credit Debit Credit Debit Credit


    Trial balance Adjustments Adjusted TB Income statement
    Inventories at 1 April 20X7 75,000 91000 75000 91,000
    Purchases 465,000 465000 0
    Prepaid insurance 7000 7,000
    Land and Buildings Cost 600,000 600,000
    Plant and Equipment Cost 340,000 340,000
    Land and Buildings Accumulated
    Depreciation 96,000 8000 104,000

    Plant and Equipment Accumulated


    Depreciation 63000 34000 97,000
    Prepaid rent 25000 25,000
    Trade Receivables 60,000 4800 55,200
    Allowance for Receivables 5,000 2240 2,760
    Bank 24,000 24,000

    Equity Share Capital (£1 shares) 400,000 400,000


    Share Premium 100,000 100,000
    Bank Loan 200,000 200,000
    Retained Earnings 61,000 61,000
    Equity Dividends Paid 15,000 15,000
    Trade Payables 54000 54000

    Advance Deposits from Customers 6000 6000


    Interest payable 4000 4,000
    Income tax payable 10000 10,000
    Sales 1,150,000 1,150,000 1,150,000

    COGS 574000 91000 483000 483000


    Distribution Costs 220,000 220000 220000
    Administrative Expenses 340,000 12800 34240 318560 318560
    Irrecoverable Debts Expense 36,000 36000 36000
    Loan interest paid 8,000 4000 12000 12000

    Income tax expense 10000 10000 10000

    £ 2,159,000 £ 2,159,000 £ 726,040 £ 726,040 £ 2,212,760 £ 2,212,760 £ 1,079,560 £ 1,150,000


    Net income £ 70,440
    Balance sheet
    Debit Credit
    Balance sheet
    91,000

    7,000
    600,000
    340,000

    104,000

    97,000
    25,000
    55,200
    2,760
    24,000

    400,000
    100,000
    200,000
    £ 131,440
    15,000
    54000

    6000
    4,000
    10,000
    £ 1,133,200 £ 1,133,200

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