BF1122 Foundations of Financial and Management Accounting

Accounting for limited companies.

DR (£) CR (£) 8% Preference share capital 35000 Ordinary share capital 125000 10% debentures (repayable 2023) 20000 Share premium 21000 Retained profits 31-12-2017 13874 Interim ordinary dividend paid 6250 Equipment at cost 122500 Motor vehicles at cost 99750 Accumulated depreciation for equipment 29400 Accumulated depreciation for motor vehicles 36225 Inventory at 1-1-2018 136132 Sales 418250 Purchases 232225 Sales returns 4025 General expenses 1240 Salaries and wages 46260 Directors remuneration 18750 Rent, rates and insurance 18095 Motor expenses 4361 Debenture interest 1000 Bank 6501 Cash 630 Accounts receivable 94115 Accounts payable 93085 791834 791834.