Antique Furniture Supplies Ltd’s Cash book for September 2014

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The accounts of Antique Furniture Suppliers Ltd from 1st October 2013 to 30th September 2014
The accounts of Antique Furniture Suppliers Ltd from 1 st October 2013 to 30 th September 2014
Antique Furniture Supplies Ltd’s Cash book for September 2014

Ledger accounts for Antique Furniture Suppliers Ltd’s Ledger for the year ended 30 September 2014
Debit       Credit
Date Details Fo £   Date Details Fo £
    Delivery van account      
01-Oct-13 Balance b/d 82000   30-Sep-14 balance c/d 82000
01-Oct-14 Balance b/d 82000          
                 
                 
    Accumulated depreciation DV    
30-Sep-14 Balance c/d 11500   01-Sep -13 Balance b/d 11500
          01-Oct-14 Depreciation   11500
                 
                 
                 
                 
    Fittings account      
01-Oct-13 Balance b/d 16000   31/09/2014 balance c/d 16000
01-Oct-14 Balance b/d 16000          
                 
                 
    Accumulated depreciation fittings    
30-Sep-14 Balance c/d 2000   01-Sep-13 Balance b/d 2000
          01-Oct-14 Balance b/d 2000
                 
                 
    Premises Account      
01-Oct-13 Balance b/d 200000   30-Sep-14 Balance c/d 200000
01-Oct-14 Balance b/d 200000          
                 
                 
     
Accumulated depreciation Premises
   
30-Sep-14 Balance c/d 40000   01-Sep-13 Balance b/d 40000
          01OCt-14 Depreciation   40000
                 
                 
                 
    Inventories Account      
01-Oct-13 Balance b/d 54000   30-Sep-14 Balance c/d 54000
01-   Oct -14 Balance b/d 54000          
                 
                 
                 
    Sales Ledger    
      Murphys Account      
01-Sep-14 Balance b/d 4350   20-Sep-14 bank   4000
            Discount allowed 100
09-Sep-14 Sales   6000     Balance c/d 6250
      10350         10350
01-Oct-14 balance b/d 6250          
                 
     
 
Doolan Account
     
01-Sep-14 balance b/d 8000   30 Sep -14 Balance c/d 14000
09-Sep-14 Sales   6000          
      14000         14000
01-Oct-14 Balance   14000          
                 
                 
    Doyle Account      
01-Sep -14 balance b/d 2700          
     
OHaire Account
     
01-Sep-14 balance   5000   06-Sep-14 bank   10900
03-Sep-14 sales   6000   06-Sep-14 Discount Allowed   100
      11000         11000
                 
                 
       
 
 
 
   
 
 
 
     
     
 
 
Baralux Account
     
01-Sep-14 balance b/d 50000   14-Sep-14 Bank   35000
            Discount allowed   1000
                14000
      50000         50000
01-Sep Balance   14000          
                 
                 
    KellysAccount      
01-Sep-14 balance b/d 2000   30-Sep-14 Balance c/d 2000
01-Oct-14 Balance b/d 2000          
                 
                 
    OSullivan Account      
01-Sep-14 Balance b/d 6600          
16-Sep-14 Sales   3000   19-Sep-14 bank   2500
            Discount allowed   200
            Balance c/d 6900
      9600         9600
01-Oct-14 Balance b/d 6900          
                 
                 
                 
     
 
Sales Account
     
////30-Sep-14 Balance   391350   01-Sep-14 Balance b/d 357500
          13-Sep-14 Bank   4900
          22-Sep-14 Bank   2450
          30-Sep-14 Trade receivables 21000
          30-Sep-14 Bank   5500
      391350         391350
          01-Oct-14 Balance b/d 391350
                 
                 
    Sales returns account    
01-Sep-14 balance b/d 5100   30 Sep 2014 Balance b/d 5100
                 
1 Oct 2014 Balance b/d 5100          
                 
                 
     
 
 
Purchases ledger
     
                 
    Cronin Account        
23-Sep-14 Bank   9000   01-Sep-14 Balance b/d 3500
30-Sep-14 Balance b/d 14500   01-Sep-14 Purchases   20000
      23500         23500
          01-Oct-14 Balance b/d 14500
                 
                 
    Slatery Account      
22-Sep- 14 Bank   2500          
  Discount   100   23 Sep-14 Purchases   26000
30-Sep-14 balance c/d 23400          
                 
      26000         26000
          01-Oct-14 balance b/d 23400
                 
                 
     
 
 
Purchases account
     
01-Sep-14 Balance b/d 227750   30-Sep-14 balance c/d 273750
30-Sep-14 Trade payables 46000          
      273750         273750
01-Oct Balance b/d 273750          
                 
                 
    Purchases returns account    
30 Sep 14 Balance c/d 19250   01-Sep-14 Balance b/d 19250
          1 Oct 14 Balance b/d 19250
                 
                 
    Share Capital Account      
          01-Oct-13 Balance b/d 200000
                 
                 
    Share premium account      
          01-Oct-13 Balance b/d 20000
                 
                 
    Retained earnings account      
          01-Oct-13 Balance b/d 53150
                 
                 
                 
                 
    10% Loan account      
          01-Sep-14 Balance b/d 70000
                 
                 
    Motor Delivery expenses      
01-Sep-14 Balance b/d 11300   30 Sep 14 Balance c/d 11300
01 Oct 14 Balance b/d 11300          
     
Motor Insurance
     
01-Sep-14 Balance b/d 4800   30-Sep-14 Balance c/d 4800
01-Oct-14 Balance b/d 4800          
                 
    Postage, stationery and telephone account    
01-Sep-14 Balance b/d 5171   30 Sep 14 Balance c/d 5248
30-Sep-14 cash   77          
      5248         5248
1 Oct 14 Balance b/d 5248          
    Light and heat Account    
01-Sep-14 Balance b/d 5880   30-Sep-14 Balance c/d 8408
07-Sep-14 Bank   2528          
      8408         8408
01-Oct-14 Balance b/d 8408          
                 
    Rent Account      
01-Sep-14 Balance b/d 10000   30 Sep 214 Balance c/d 10000
01-Oct-14 Balance b/d 10000          
                 
                 
      Wages account      
01-Sep balance   88000   30-Sep-14 Balance c/d 96000
30-Sep-14 Bank   8000          
      96000         96000
01-Oct-14 Balance b/d 96000          
                 
    Discount received account      
30-Sep-14 Balance c/d 5000   01-Sep-14 balance b/d 4900
          30-Sep-14 Trade payables   100
      5000         5000
          01-Oct-14 balance b/d 5000
                 
     
 
Discount allowed account
     
01-Sep-14 balance b/d 5450   30-Sep-14 Balance c/d 6850
30-Sep-14 Trade receivables 1400          
      6850         6850
01-Oct-14 Balance b/d 6850          
     
 
Bank charges account
     
01-Sep-14 Balance b/d 3085   30-Sep-14 Balance c/d 3085
01-Oct-14 Balance b/d 3085          
                 
    Advertising account      
01-Sep Balance b/d 3500   30-Sep-14 Balance c/d 3500
01-Oct-14 Balance b/d 3500          
                 
      Sales ledger control account  
01-Sep-14 Balance b/d 78650   30-Sep-14 Bank   52400
30-Sep-14 Sales   21000   30-Sep-14 Discount   1400
          30-Seo-14 Balance c/d 45850
      99650         99650
01-Oct-14 Bal b/d 45850          
                 
                 
    Purchases Ledger Control Account    
          01-Sep Balance b/d 13500
30-Sep-14 bank   11500   30-Sep Purchases   46000
30-Sep-14 Discount   100          
      47900          
      59500         59500
          01-Oct Balance b/d 47900

You must practise how to:
Extract a trail balance from ledger accounts and cashbook,
After extracting the trial balance you discover the follow items:
Closing inventory is valued at £35,000.
Antique Furniture Supplies Ltd’s depreciation policy is as follows. Depreciation is to be charged on both delivery vans and premises at 20 per cent on cost and on fittings at 10 per cent using the reducing balance method.
Light and heat worth £175 and telephone worth £265 are outstanding at the year-end along with wages of £2,000.
You have decided to charge Antique Furniture Supplies Ltd £12,000 for your accounting services.
There is a rent prepayment of £1500 and an insurance prepayment of £ 400 at the end of the year.
After discussing matters with Antique Furniture Supplies Ltd, you decide that there is little likelihood of any  further  payments  from  Doyle  and  that  the  remaining  balance of £2700 should  be  written  off  as  an irrecoverable receivable.
In the  light  of  the  experience  with  Doyle,  you  have  advised  Antique  Furniture  Supplies  Ltd  that  it would be prudent to create an allowance for irrecoverable receivables. It is agreed that a provision equal to 5 per cent of closing trade receivables should be established.
Interest on the long-term loan is outstanding at the year end.
To prepare a statement of profit and loss of a limited company in a vertical format showing calculations separately
To prepare a statement of financial position of a limited company in a vertical format; showing calculations separately.

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