Incomplete Records A

Question 1

Sales working

Answer 1

1. Debtors from bank lodgements - debtors from 01/01 + debtors from 31/12 + value of goods sold which were not recorded in books.
2. Lodgements + general expenses + purchases + cash drawings - cash on 01/01

1 + 2 = sales figure

Question 2

Purchases working

Answer 2

1. Creditors from bank payments - trade creditors 01/01 + trade creditors 31/12
2. Cash purchases from question + 1 = X
3. X - drawings of stock for the year = Purchases figure

Question 3

Closing Stock working

Answer 3

Closing stock from question - value of the sale of stock not recorded

Question 4

General Expenses Figure

Answer 4

General expenses from cash payments - wages due 01/01

Question 5

Light and Heat Figure

Answer 5

Light and heat from bank payments + electricity due - utilities drawings

Question 6

Loan Interest Figure

Answer 6

Interest paid from bank payments + interest due = total interest - drawings of interest = loan interest figure for P&L

Question 7

Insurance Figure

Answer 7

Insurance from bank payments + insurance prepaid 01/01 - insurance prepaid 31/12 = insurance figure

Question 8

Debtors Working

Answer 8

Debtors at 31/12 + sale of stock not recorded