TRIAL BALANCE

ACCOUNTS ASSETS Cash at Bank Trade Debtors Closing Stock 31 March 2001 Buildings and Valuation Motor Vehicles net book value Trade Creditors Tax Payable Share Capital Sales Cost of Stock Sold Administrative expenses Selling and Distribution Cost Tax Charge (Profit and Loss Account) Insurance Rent Paid Motor Vehicle Expenses Salaries

DEBIT 42,000.00 122,700.00 90,000.00 600,000.00 84,000.00

LIABILITIES EQUITY REVENUE EXPENSES

489,000.00 6,000.00 40,500.00 60,000.00 12,000.00 12,000.00 21,000.00 106,800.00

TOTAL

1,686,000.00

CREDIT

102,000.00 60,000.00 720,000.00 804,000.00

1,686,000.00

STATEMENT OF FINANCIAL POSITION

NOTE Sales Cost of Goods Sold Gross profit Expenses Selling Expenses Administrative Expenses Other Expenses Total Expenses Net Income Before Tax Tax charge 804,000.00 489,000.00 315,000.00

(1)

40,500.00 6,000.00 151,800.00 198,300.00 116,700.00 60,000.00

Net Income After Tax

Note 1 - Other Expenses Insurance Rent Paid Motor Vehicle Expenses Salaries Total Other Expenses

56,700.00

12,000.00 12,000.00 21,000.00 106,800.00 151,800.00

Statement of Financial Position

Assets
Current Assets Cash at Bank Trade Debtors Closing Stock 31 Mar. 2001 Total Current Assets Non-current Assets Building at Valuation Motor vehicle net book value Total Non-current Assets Total Assets 42,000.00 122,700.00 90,000.00

600,000.00 84,000.00

Liabilities and Shareholder's Equity

Liabilities Trade Ceditors Tax Payable Total Liabilities Shareholder's Equity Share Capital Net Income After Tax Total Shareholder's Equity Total Liabilities and Shareholder's Equity 102,000.00 60,000.00

720,000.00 56,700.00

254,700.00

684,000.00 938,700.00

162,000.00

776,700.00 938,700.00