Golf Madness

In: Business and Management

Submitted By 20059081
Words 782
Pages 4
BACHELOR OF BUSINESS STUDIES (ORD) IN RECREATION AND SPORT MANAGEMENT

BACHELOR OF BUSINESS STUDIES (ORD) IN RECREATION AND SPORT MANAGEMENT

EXAMINATION:
SEMESTER 2
ACCOUNTING & FINANCIAL INFORMATION

YEAR 1

DATE: THURSDAY 12TH MAY 2011
TIME: 9.15AM
VENUE: MAIN HALL, CORK RD. CAMPUS

MAY 2011 DURATION: 2 HOURS

INTERNAL EXAMINER: MR. PAUL TREACY EXTERNAL EXAMINER: MR. CONOR CARROLL

INSTRUCTIONS TO CANDIDATES:

1. ANSWER ALL THREE QUESTIONS 2. SHOW ALL WORKINGS

WATERFORD INSTITUTE OF TECHNOLOGY

Q1.

The following trial balance was extracted from the books of Hickey Ltd as at 31st December 2010.

Dr Cr € €
Land & Buildings 426,000 Accumulated depreciation 1.1.2010 85,000
Plant and Equipment 162,550 Accumulated depreciation 1.1.2010 110,950
Motor Vehicles 135,000 Accumulated depreciation 1.1.2010 55,000
Retained Profit 1.1.2010 150,157
Ordinary Shares at €1 each 180,000
Share Premium Account 20,000
Bank Loan (repayable in 2015) 35,000
Stocks 1.1.2010 62,840
Sales 872,190
Purchases 499,950
Trade Debtors 48,115
Trade Creditors 29,862
Returns in/out 2,426 3,018
Carriage inwards 4.890
Carriage outwards 8.446
Provision for Bad Debts 2,120
Bank 3,256
Ordinary Dividend paid - Interim 1,800
Rent and Rates 22,600
Insurance 10,520
Stationary 4,752
Sundry Expenses 8,520
Wages & Salaries 135,550
Light and Heat 6,082 1,543,297 1,543,297

Additional information:
1. Stock at 31st December 2010 was €48,200.
2. Depreciation is to be provided as follows: a) Land & Buildings 2% on cost b) Plant and Equipment 10% on…...

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