Year 10 - Accounting - 27-1-15

Thai Sikh International School

E-Learning Programme – Online Teaching and Learning –27/01/2015

Name:                                                                                 Subject: Accounting

Year : 10                                                                              Schedule No. : 1

                                   

Suzi owns a retail business. She has kept very limited financial records. However she has been able to provide the following information about her business’s assets and liabilities at the beginning and end of the trading year that ended on 30^th September, 2012.

                                                            1^st October, 2011                    31^st September,2012

                                                                        $                                              $

Cash at Bank                                                   3600                                        5200

Delivery Vehicle                                           18000                                        16000

Inventory                                                        14400                                      15300

Shop furniture                                                 11900                                      13800

Trade Payables                                                1700                                        1100   

Suzi withdrew cash during the year totaling $18300 for private use. Suzi is also said that she won $1800 in a competition on 1^st May, 2012 which she invested in the business. Find out the profit