Complete Accounting Solutions

Stin

dont suppose theres any chance of you putting up the creditors control a/c? please

nerd3000

thanks for all that man,
two questions:

The life m'ship of 2400 in the I & E?

and

Admin Expenses
-Depr on Build
- Admin
- Auditors
-Directors
and ??????

armbruster

nerd3000 wrote: »

thanks for all that man,
two questions:

The life m'ship of 2400 in the I & E?

and

Admin Expenses
-Depr on Build
- Admin
- Auditors
-Directors
and ??????

patent royalty.

Dont ask me, I just know it goes in under admin expenses and again as income in the P+L, that's the way it was on the 2005 100 marker.

college2008

was the P/L figure for the published account exactly 400,000


Please say yes................

Stin

college2008 wrote: »

was the P/L figure for the published account exactly 400,000


Please say yes................

i got that too! Shame published didnt come up as a 100 marker, thats the only question i really had "down"

college2008

Stin wrote: »

i got that too! Shame published didnt come up as a 100 marker, thats the only question i really had "down"

i originally had 397000 as the end figure, so when i looked back and saw 3000 for unquoted investment, i just threw it in to make a nice round 400,000.

nice


still.....accounting sucked

Stin

sure did, it dropped me down like 30 points

johnnyq

Stin wrote: »

dont suppose theres any chance of you putting up the creditors control a/c? please

No bother!

Creditor's Control A/c

Debit Side
Bal b/d................630
Invoice Err (i)........60
Credit Note (ii).....120
Bal c/d.............17585
........................18395

Credit Side
Bal b/d.............17550
Interest (iii)...........50
Charge (v).............11
Error (v)................90
Discount Dis (vi).....64
Bal c/d................630
.......................18395

Schedule of Creditors
Balance as per List.................16480
Add
Invoice (i).......................510
Cash Purchases (iv)..........140
Discount Dis (vi)................64....714
..........................................17194
Less
Credit Note (ii)................222
Interest (iii).....................17.....239

Balance as per Control A/c.......16955

johnnyq

nerd3000 wrote: »

thanks for all that man,
two questions:

The life m'ship of 2400 in the I & E?

I had 4200 rather than 2400, but yep that's the amount of life m written off to income this year

Life memberships are like deferred income. They're written into the accounts as a reserve and the club draws down on them each year for 10 years. It's similar to depreciation for assets.

4200 * 10 = 42000 which is made up of the 40000 we had at the start of the year and an extra 2000 for the new life membership we had in subs.

nerd3000 wrote:

Admin Expenses
-Depr on Build
- Admin
- Auditors
-Directors
and ??????

The four you listed were the only ones to go under Admin Expenses. You had to take patent royalties out of Admin first though.

JJPW89 wrote:

I didn't think it was possible to have a negative cash figure??????

Yep, this either points to cash that is unrecorded in the accounts or I could have bundled it under bank o/d, but just to keep to the format in the q I left cash as a negative figure.

johnnyq

armbruster wrote: »

Fair play to you for doing out all these accounts. Thanks, you've put my mind at rest concerning the published accounts!
I'm guessing your doing accounting/business in college?

Yep, on work placement atm! Very little to do except bookkeeping and looking at boards.ie, but i'm not complaining!

Overall have the answers helped people? Does everyone still think they're dropping from A's to C's?

Sure, I remember panicing about not getting my course too but sure it all worked out in the end.