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Answer the questions on the paper

Depreciation 2,500 Acquisition 13,000 Depreciation 2,500     Balance c/d(balance sheet) 20,000   25,000   25,000         Provision for depreciation Details Ant($) Details Ant($)     Motor Van a/c 2,500 Balance c/d 5,000 P & L 2,500   5,000   5,000         Rent Expenses Details Ant($) Details Ant($) Cash a/c 15,000     Prepaid rent 5,000 P & L 20,000   20,000   20,000         Prepaid Rent Account Details Ant($) Details Ant($) Bal. b/d 5,000 Rent expenses 5,000           5,000   5,000                 Rate expenses Account Details Ant($) Details Ant($) Prepaid exp. 300     Cash 975 P & L 1,300   1,300   1,300         Prepaid Rate Account Details Ant($) Details Ant($) Balance e B/F 300 Rate expenses 300 Cash 325 Bal. c/d(balance sheet) 325   625   625         Motor Van Expenses Details Ant($) Details Ant($) Cash 16,200 Bal c/d 16,200   16,200   16,200                 Wages Expense Account Details Ant($) Details Ant($) Cash a/c 36,070     Accrual wage 860 P & L 36,930   36,930   36,930                         Accrued wages account Details Ant($) Details Ant($) Cash a/c 630 Bal. b/d 630 Bal. c/d(balance sheet) 860 Wages Exp. 860   1,490   1,490         Accounts Payables Details Ant($) Details Ant($) Cash a/c 71,000 Bal. b/d 22,000 Bal. c/d (Bal. ...
t Details Ant($) Details Ant($) Cash 690 Balance B/F 620 Suspense a/c 70   690   690                         Electricity Expense Account Details Ant($) Details Ant($) Cash 1,130 P & L 1,130   1,130   1,130                                         Operating Expenses Account(delivery Van) Details Ant($) Details Ant($) Cash a/c 16,200 P & L 16,200                 Suspense Account Details Ant($) Details Ant($) Electricity Accrued 70 Bal c/d 70   70   70         Purchases a/c Details Ant($) Details Ant($) Bal. b/d 65,000     Cash 8,000 Sales(Cash) 25,000 Creditor 67,000 Sales(Credit) 89,000     Bal c/d(bal. sheet) 26,000   140,000   140,000 Calculation of depreciation (ANTLE, & GARSTKA, 2004).  T & T Co. COMPREHENSIVE STATEMENT FOR FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31,DECEMBER 2012 $ $ Sale (Cash) 54,000 Sale (Credit) 179,000 Total Sales Revenue 233,000 Less COG (114,000) Gross Profit 119,000 Operating Expenses Van Running Exp. 16,200.00 Rates 1,300.00 Electricity & Wages 38,060.00 Rent 20,000.00 (75,560) Net Profit before taxation 43,440 Taxation (8,688) Net Profit after taxation 34,752 T & T Co. COMPREHENSIVE STATEMENT FOR FINANCIAL POSITION AS AT 31,DECEMBER 2012 $ $ $ PRESENTED BY: NON CURRENT ASSETS Motor Van: Cost 25,000 : Depreciation (5,000) 20,000 CURRENT ASSETS Inventories 26,000 Trade Receivable 20,600 Prepaid Expenses 325 Cash/Bank 49,730 96,655 LESS CURRENT LIABILITIES Trade payable 18,000 Accrued Expenses 860 (18,860) 77,795 97,795 FINANCED BY: Original Capital 50,000 Profit b/d Add profit for the year Less Drawings 26,900 Unrealized profit 34,752 (20,000) 6,143 97,795 RATION ANALYSIS FOR MAGIC ENTERPRISES PLC Name 2008 2009 2010 2011 2012  Current Ratio          Interest Coverage Ratio     ...Show more

Summary

FINANCIAL MANAGEMENT Lecturer Subject Code Cash Account Details Ant($) Details Ant($) Balance e B/F 750 Withdrawals 20,000 Sales 54,000 Rent Exp. 15,000 Rate 1,300 Debtors 178,000 Motor Van 13,000     Wages a/c 36,700     Operating exp…
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