Year 11 - Accounts - 19.11.13

Thai Sikh International School

E-Learning Programme – Online Assignment –  19/11/2013

Name :                                                                                    Subject :  Accounting

Year   :  11 A/B                                                                      Week No. :  05                                  

1. Carrie Okie, a sole trader, does not keep full accounting records but supplied the following information about her business.

                             At 1 April 2002        At 31 March 2003

                                      $                                    $

Fixed assets                 50000                            75000

Current assets              20000                            30000

Current liabilities          15000                            20000

You have the following additional information.

1. Carrie drawings for the year ended 31 March 2003 were $ 10000

2. Fixed assets at 31 March 2003 are to be depreciated by 20%

        a)     Prepare a Balance sheet for Carrie as at 1 April 2002

        b)    Prepare a Balance sheet for Carrie as at 1 April 2003

        c)     Calculate the profit of loss for the year 2003.

***************************************