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CHAPTER 46 Accounts for Service Firms

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1 CHAPTER 46 Accounts for Service Firms
21/05/2019 CHAPTER 46 Accounts for Service Firms Questions 3 and 4 Textbook: Operating Statements and Balance Sheets. Ordinary Level Only This is the Title Slide R. DELANEY

2 Q3 Page 439 Textbook (OL) OPERATING STATEMENT AT 31/12/10 (O LEVEL)
R. Delaney Q3 Page 439 Textbook (OL) OPERATING STATEMENT AT 31/12/10 (O LEVEL) Income € € € Tuam 160,000 Ballinasloe 114,600 Athenry 125,500 400,100 Expenditure Vehicle insurance 40,000 Office expenses 7,800 Servicing of trucks 18,000 Drivers' wages 56,000 Diesel 45,000 Road Tax 6,450 Advertising 7,500 180,750 Net Profit 219,350

3 Q3 Page 439 Textbook (OL) BALANCE SHEET AS AT 31/12/10 Fixed assets €
R. Delaney Q3 Page 439 Textbook (OL) BALANCE SHEET AS AT 31/12/10 Fixed assets € € € Premises 120,000 Motor vehicles 400,000 520,000 Current assets Cash 6,350 Less Current liabilities Bank overdraft 7,000 Working capital -650 Net Assets 519,350 Financed by: Issued share capital 300,000 Net profit 219,350 Capital employed 519,350

4 Q4: Page 440 Textbook Operating Statement T 31/12/11 (O Level) Income
R. Delaney Q4: Page 440 Textbook Operating Statement T 31/12/11 (O Level) Income € € € Monaco 150,000 Morocco 180,000 Miami 109,000 439,000 Expenditure Insurance 17,000 Admin expenses 23,400 Bonding fee 30,000 Light and heat 20,000 Printing 23,000 Telephone 5,200 Advertising 43,000 161,600 Net Profit 277,400

5 Q4: (cont) BALANCE SHEET AS AT 31/12/11 Fixed Assets € € € Premises
R. Delaney Q4: (cont) BALANCE SHEET AS AT 31/12/11 Fixed Assets € € € Premises 300,000 Office equipment 90,000 390,000 Current Assets Cash 2,100 Current Liabilities Bank overdraft 14,700 Working capital -12,600 Net Assets 377,400 Financed by: Issued share capital 100,000 Net profit 277,400 Capital employed 377,400

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