ymond started trading on 1 October 2016. He chose 31 March as his accounting dat e and his first accounts were for the period from 1 October 2016 to 31 March 2017 . His purchases and sales of plant and machinery during the first two accounting periods were as follows: 1 October 2016 Bought machinery 130,000 1 October 2016 Bought motor van (emissions 212g/km) 16,200 12 December 2016 Bought motor car (emissions 173g/km) 18,600 18 January 2017 Bought office equipment 4,800

ymond started trading on 1 October 2016. He chose 31 March as his accounting dat e and his first accounts were for the period from 1 October 2016 to 31 March 2017 . His purchases and sales of plant and machinery during the first two accounting periods were as follows: 1 October 2016 Bought machinery 130,000 1 October 2016 Bought motor van (emissions 212g/km) 16,200 12 December 2016 Bought motor car (emissions 173g/km) 18,600 18 January 2017 Bought office equipment 4,800

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

Chapter6: Managing Cash Flow

Section: Chapter Questions

Problem 1bM

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Mr Jamil, a trader, completed a year’s trading on 31 October 2020. The following balances were extracted from the business records: Particulars Debit RM Credit RM Purchases and Sales 52,650 160,720 Sales returns and purchases returns 340 1,213 Land 100,000 Machines 140,000 Office equipment 30,000 Vehicles 75,000 Provision for depreciation at 1 November 2019: Machines Office equipment Vehicles 28,000 16,800 28,000 Office expenses 11,500 Cash in hand 175 Selling expenses 8,820 Drawings 6,000 Wages 48,000 Stock at 1 Nov 2019 2,500 Provision for doubtful debts as at 1 Nov 2019 650 Debtors and creditors 14,500 8,600 Repairs 2,370 Bad debts 240 Jamil – Capital account as at 1 Nov 2019 251,512 Cash at bank 3,400 TOTAL 495,495 495,495 Mr Jamil also provides the following information at…
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