Answer the questions on the paper Essay Example | Topics and Well Written Essays - 1250 words

Answer the questions on the paper - Essay ExampleDepreciation 2,500 Acquisition 13,000 Depreciation 2,500 Balance c/d(balance sheet) 20,000 25,000 25,000 Provision for depreciation lucubrate Ant($) expound Ant($) Motor Van a/c 2,500 Balance c/d 5,000 P & L 2,500 5,000 5,000 Rent Expenses enlarge Ant($) details Ant($) change a/c 15,000 Prepaid rent 5,000 P & L 20,000 20,000 20,000 Prepaid Rent report card 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 sum total Sales Revenue 233,000 Less COG (114,000) Gross avail 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 lot 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 limit ANALYSIS FOR MAGIC ENTERPRISES PLC Name 2008 2009 2010 2011 2012 Current Ratio Interest Coverage Ratio