Statement of Affairs as at 1ST JAN 2009

Example : RM
Assets
Bank 6,000
Receivables 300
Inventory 400
Subscription in arrear 100
Equipment 9,480
Club premises 40,000

Less: Liabilities
Subscription in advance (50)
Payables (320)
ACCUMULATED FUND as at 31/12/ XX 55,910

a) Bar receivables – find credit sales

RM RM
Bal b/d 300 Receipt and payment 3,262
Sales- credit sales 3,422 Bal c/d 460
3,722 3,722

a) Bar payables – find credit purchase

RM RM
Receipt and payment 1,280 Bal b/d 320
Bal c/d 620 Credit purchase 1,580
1,900 1,900

b) Subscription Account

RM RM
Subscription in arrear b/d 100 Subscription in advance 50
b/d
Transfer : Income and 3,720 Receipts and payments 3,720
expenditure acc
Subscription in advance 75 Subscription in arrear 125
c/d c/d
3,895 3,895

a)
b)
c)
 d) Equipment – Find depreciation or additional asset

RM RM
Bal b/d 9,480 Depreciation 1,660
Receipts and payments 2,780 Bal c/d 10,600
12,260 12,260

a) Club premises account

RM RM
Bal b/d 40,000 Depreciation 4,000
Receipts and payments 5,000 Bal c/d 41,000
45,000 45,000

Bar Trading acocunt of Profit or Loss for the year ended 31/12/2009
RM RM
Sales 5,822
Less: Cogs
Opening Inventory 400
+Purchases 1,580
Less: Closing Inventory (370) 1,610
GROSS PROFIT 4,212
Less: expenses
Staff wages 1,400
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NET PROFIT / LOSS transfer to Income and Expenditure 2,812

Fitness Club
Income and expenditure for the year ended 31/12/2009
RM
Income:
Ordinary subscription 3,720
Profit on jumbo sales (1172-752) 420
Net profit from café 2,812
Donation 320
7,272
Less: Expenditure:
Maintenance 800
General expenses 1250
Depreciation - equipment 1660
Depreciation – club premises 4000
DEFICIT (438)