General Ledger SHAMMY

7/28/2019 General Ledger SHAMMY

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General Ledger

Furniture r us A/C

Date Details Amount Date Details Amount

28.10.2011 Bank 42,000 28.10.11 Office machine 42,000

Office Machine A/C

Date

Details Amount Date Details Amount

1.10.11 Furniture r us 42,000 31.10.11 Bal c/d 75,000

75,000 75,000

1.11.11 Balance b/d 117,000


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Drawing A/C


4.10.11 Cash 3,000 31.11.2011 Bal c/d 33,900

20.10.11 Purchase 9,900

27.10.11 Bank 12,000

31.10.11 Cash and

Bank

9,000

33,900 33,900

1.11.11 Bal b/d 33,900

Carriage Inward A/C


31.10.11 Bal c/d 2800 27.10.11 R .Whyte 2800

2800 2800

1.11.11 Bal b/d 2800


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Advertising Expenses A/C


18.10.11 Cash/ Bank 8000 31.10.11 Bal c/d 11,500

29.10.11 P. Saving 3500

11,500 11,500

01.11.11 Bal b/d 11,500

Repair Expenses A/C


18.10.11 Cash/Bank 4000 31.10.11 Bal c/d 4000

4000 4000

1.11.11 Bal b/d 4000

Internet A/C


18.10.11 Cash/Bank 5000 31.10.11 Bal c/d 5000

5000 5000

1.11.11 Bal b/d 5000


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Cable TV A/C


18.10.11 Cash/Bank 4000 31.10.11 Bal c/d 4000

4000 4000

1.11.11 Bal b/d 4000

Electricity A/C

Date Details Amount Date Details Amount18.10.11 Cash and

Bank

6000 31.10.11 Bal c/d 10,200

18.10.11 Cash and

Bank

4200

10,200 10,200

1.11.11 Bal b/d 10,200

Water A/C


18.10.11 Cash and

Bank

3000 31.10.11 Bal c/d 6000

29.10.11 Cash and

Bank

3000

6000 6000

1.11.11 Bal b/d 6000


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Loan A/C


31.9.11 Bal c/d 25,000 25.10.11 Cash and

bank

12,000

20.10.11 J.Osbourne 50,000 31.10.11 Bal c/d 63,000

75,000 75,000

1.11.11 Bal b/d 63,000

Loan Interest


31.10.11 Cash 4000 31.10.11 Bal c/d 4,000

4,000 4,000

1.11.11 Bal b/d 4,000

Carriage Outward A/C

Date Details Amount Date Details Amount30.10.11 Cash/Bank 6000 31.10.11 Bal c/d 6000

6000 6000

1.11.11 Bal b/d 6000


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Trading &Profit and Loss Account for the year ended 31 Oct. 2011

Sales

Less: Return Inwards

Cost of goods sold

Opening stock

Add: Purchase

Less: Return Outwards

Add: Carriage Inwards

Less: Closing Stock

Gross Profit

Add: Discount Receive

Less: Expenses

Carriage outwards

Loan interest

Advertising expenses

Repair expense

Internet expenses

Cable TV expenses

Electricity expenses

WaterWages Expenses

Discount allowed

Net profit

$

699,300

- 39,600

$

643,160

- 31,950

$

611,210

-681,300

80,000

659,700

+2,800742,500

-61,200

6,000

4,000

11,500

4,000

5,000

4,000

10,200

6,00034,600

3,642

- 70,090

8,310

-61,780

88,942

150,788


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Balance Sheet as at 31 October 2011

Fixed Asset

$

502,598

+ 63,000

$

117,000

+ 500,000

$

617,000

- 51,922

Furniture

Building

Current Asset

61,200

177,940

249,536

+ 25,000

Stock

Debtor

Cash at bank

Cash in hand

Current Liability

513,676

- 565,598

Creditor

Working capitol

Financed by

749,700

- 150,722

565,078

565,078

Capital

Add: Net Loss

Less: Drawings

Net profit

598,978

- 33,900


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Sales a/c

Date Detail Amount Date Detail Amount

2011.Oct.2 bank 20,750

2011.Oct.6 bank 52,500

2011.Oct.6 Cash 9,890

2011.Oct.8 Cash 128,920

2011.Oct.15 Cash 31,820

2011.Oct.31 Sales 174,010

2011.Oct.31 Total

credit

sales for

the month 225,270

643,160


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Shanique Myrie


2011.Oct.7 Bank 8,740 2011. Oct.1 Purchases 128,000

2011.Oct.7 Discount 760

2011.Oct.31 Bank 2,470

2011.Oct.31 Discount 130

2011.Oct.13 Return Inward 4,600

Bal c/d 111,300

128,00 128,000

2011.Nov.7 Bal b/d 111,300

April Lile


2011.Nov.7 Bank 11,500 2011.Oct.7 Purchases 88,500

2011.Nov.7 Discount 1,000

2011.Nov.13 ReturnOutward

9,700

2011.Nov.31 Bal c/d 66,300

88,500 88,5002011.Nov.1 Bal c/d 66,300


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Tamara Jones


2011.Oct.31 Bank 16,200 2011. Oct.8 Purchases 90,7002011.Oct.31 Discount 1,800 2011.Oct.21 Purchases 101,700

2011.Oct.31 ReturnInward

9,400

2011.Oct.31 Bal c/d 16,500

192,400 192,400

2011.Nov.1 Bal b/d 165,000

Total

Creditor

470,598


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Purchases


2011.Oct.28 Bank 43,400 2011. Oct.20 Drawings 9,900

2011.Oct.31 Total creditpurchases for

the month

616,800 2011.Oct.31 Bal c/d 699,300

2011.Oct.15 Bank 49,000

709,200 709,200

2011.Nov.1 Bal b/d 699,300


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Roxanne WhyteTrail Balance 31 October 2011

PurchaseSalesReturn InwardsReturn OutwardsCashBankFurnitureDrawingWagesAdvertising expenseRepair expensesInternet expensesCable TV expensesElectricity expensesWater expensesLoan

Carriages InwardsCarriages OutwardsDiscount AllowedDiscount ReceivedCapitalBuildingsLoan InterestStock

Trade DebtorsTrade Creditors

Dr.

$699,300

31,950

25,000249,536117,00033,90034,60011,5004,0005,0004,00010,2006,000

280060003,642

500,000400080,000

117,940

Cr.

$

643160

39,600

63,000

8,310749,700

502,598

2,006,368 2,006,368


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Ratio

Roxanne Whyte hardware can be interpreted by the following.

1.Acid testCurrent assetStock = 513,676 - 61,200

Current Liability 565,598

452,476

565,598= 0:79:1

2.Mark upNet loss x 100 = 150,722 x100Cost price 6,700

Mark up

Net loss x 100 = 15,072,200Cost price 6,700

= 2:24:9


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Line Graph showing market growth of September and October.

0

10

20

30

40

50

60

70

80

September October

61,200

80,000


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Pie Chart comparing results for both months.

60%

40%

September

Gross profit $138,600

Net profit $91,510

87%

13%

October

Gross profit $-70,090

Net profit $-150,722


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Conclusion

Roxanne Whyte hardware performed its best within the first month but

more could have been done to sustain the growth of the business. The

proprietor could seek to empty more persons, learn some managementskill to better use the resources of the business. The proprietor could also

engage in a concession with suppliers to bring more goods into the

business in variety.


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Recommendation

Roxanne Whyte Hardware performed good in sales for September but

suffered a loss in October. I am recommending that she employs more

workers, get a variety of new things to sell thus improving the marketsales and improve in the profit for the business.


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Performance or the Business

It can be seen that the business has grown within a month period for

September 1 to 30th

and receive a loss within the next month.


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Introduction

This business is in operation for the purpose of selling hardware

supplies. This business has been operating for (5) years. Our business is

small thus having two (2) workers but they have been excellent workthroughout the years. We would like to expand and employ more

persons in the near future.


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Table of Contents

1.Aim of Project2.Entity Operated and Description of Activity3.Presentation of Actual Accouting Procedure and Records kept Books of Original Entry Ledgers Trial Balance Income Statement Statement of Financial position4. Interperatation of results

Calculation of simple accounting ratios Performance of the business Comparisons Suggession and recommendation Conclusion

5.Appendice Sounce of document Diagrams Charts Statisticsal Data

General Ledger SHAMMY

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