Financial Accounting 2 Assignment 2
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Transcript of Financial Accounting 2 Assignment 2
FINANCIAL ACCOUNTING 2
ASSIGNMENT 2
DUE DATE: 23 MARCH 2015
1. Brave Warriors FC Trading Account for period ending 31 March 2013
Sales44125
Opening Stock 5620
Purchases22350
Closing Stock(4320)
Cost of goods sold23650
Gross Profit20475
Expenses
Wages(3310}
Profit17165
Brave Warriors FC Income and Expenditure for period ending 31 March 2013
Income$
Subscriptions(79056-3800+6920)82176
Profit from Raffles 3149
Profit from Bar17165
Donations2920
105410
Expenditure
Rent (16000-4000)12000
Depreciation: Motor Van8000
Furniture45000
Grounds man wages2431
Telephone2709
Printing3940
Motor Vehicle4970
Electricity6250
44800
60610
Opening Balance Accumulated fund60500
Closing Balance Accumulated fund121110
Brave Warriors FC Statement of Financial Position as at 31 March 2013
Non Current assets
Motor Van56000
Total56000
Current Assets
Inventory 4320
Furniture 31500
Debtors Accumulated Subs 6920
Prepayments 4000
Bank 29650
Cash 1020
Total Current Assets 77410
Total Assets 133410
Equity and Liabilities
Equity
Accumulated Fund121110
Total Equity121110
Liabilities
Creditors7250
Motor Van Expenses1250
Prepaid Subs3800
Total Liabilities12300
Total Equity and Liabilities121110