Cash book

The journals

Trial balance

trial balance as at December 30 2013 | | | | DR ($) | CR ($) | cash | 444,500 | | bank | 1,780,760 | | debtors: T. Mcbean | 40,300 | | T. Wright | 15,500 | | creditors: Tysoue ltd | | 71,200 | Car care ltd | | 42,880 | Good year ltd | | 434,750 | office machinery | 90,000 | | capital | | 1,807,501 | stock | 550,000 | | fixtures | 230,000 | | motor vehicle | 500,000 | | loan- Scotia bank | | 900,000 | sales | | 1,513,000 | purchases | 866,280 | | drawings | 30,000 | | rent | 35,000 | | wages | 35,000 | | return inwards | 27,000 | | return outwards | | 33,750 | discount allowed | 1,500 | | discount received | | 30,000 | provision for depreciation: motor van | | 154,167 | office machinery | | 18,375 | fixtures | | 57,917 | electricity | 55,000 | | | 5,063,540 | 5,063,540 |

Trading and profit and loss account trading and profit and loss account as at December 31 2013 | | | $ | $ | $ | sales | | 1,513,000 | | less return inwards | | 27,000 | | net sales | | | 1,486,000 | less cost of goods sold: | | | | opening stock | | 550,000 | | add purchases | 866,280 | | | less return outwards | 33,750 | | | net purchases | | 832,530 | | cost of goods available for sales | | 1,382,530 | | less closing stock | | 600,000 | | | | | 782,530 | gross profit | | | 703,470 | add revenue: | | | | discount received | | | 30,000 |