Golf Madness

In: Business and Management

Submitted By 20059081
Words 782
Pages 4




TIME: 9.15AM







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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