October Week Homework
Task 1 – Company Accounts
The following Trial Balance and notes relate to the business of Fenway plc
TRIAL BALANCE – 31 MARCH YEAR 5 £000 £000
Gross Profit ………………………………… 3,488
Property at Cost ……….…………………………………… 3,500
Fittings and Equipment at Cost
……………………………..
260
Motor Vehicles at Cost……………………………………… 360
Quoted Investments (Market Value £130,000)
…………..
120
Dividends on Quoted Investments
………………………….
12
1,400,000 Ordinary Shares/Equity of £1 each
………………….
1,400
400,000 6% Preference Shares/Equity of £1 each
…………….
400
Dividend on Ordinary Shares……………………………… 140
10% Debentures (redeemable Years 8-10) ………..
…………
400
Finance Costs – Debentures (Interest paid)
……………….
40
Provisions for Depreciation:
Fittings & Equipment…………………………………….
Motor Vehicles…………………………………………….
56
120
Preliminary Expenses……………………………………….. 40
Share Premium ……………………………………………. 200
Unappropriated Profits at 1 April Year 4
………………….
30
Cash and Cash Equivalents ……………… 287
Trade Receivables ………………………………. 200
Trade Payables …………………………………. 100
Bad Debts………………………………………………………. 8
Provision for Doubtful Debts …………………………… 10
Net Discounts
…………………………………………………….
45
Selling and Distribution Expenses
…………………………..
190
Rates ………………………………………………………. 275
Wages and Salaries………………………………………… 631
Insurance ………………………………………………. 280
