On 30 June 1983 the accounting records of Adam Enterprises revealed the following:

Long-term loan, 15% 80 Land, at cost 100 Buildings, at cost 80 Accumulated depreciation, buildings 40 Office equipment, at cost 62 Accumulated depreciation, office equipment 32 Goods available for resale 146 Office supplies inventory 11 Trade debtors 75 Trade and other creditors 125 Prepaid office expenses 16 Accrued interest 3 Accrued wages 9 Cash at bank and in hand 17 Owners' interest 218

- - 507 507 Transactions occurring, in summarised form, during the year to 30 June 1984 were as follows:

(i) Half-yearly interest on the loan was paid on the due dates of 30 September and 31 March.

(ii) Purchases on account:

Goods for resale Office supplies

(iii) Sales during the year:

Cash sales £117000 Sales on credit terms £ I 042000

(iv) Payments made to suppliers for goods and supplies received, £497000;

(v) Cash received from credit customers £ I 025000;

(vi) Wages paid during the year amounted to £207 ODD. Accrued wages at 30 June 1984 were £7000;

(vii) Office expenses paid during the year amounted to £242 ODD. Further expenses outstanding at the year end amounted to £17 ODD.

(viii) Stocks at 30 June 1984 included:

Goods available for resale Office supplies

(ix) Additional office equipment was acquired on

£30000.

(x) Depreciation is to be charged on fixed assets on the following bases :

Land: No depreciation Buildings: Straight-line over 20 years (assuming no salvage value)

Equipment: Reducing balance, using 30 per cent rate .

Assets acquired during the year are to be depreciated for the fraction of the year for which they were owned by the business.

From the above information you are required to prepare:

(a) Ledger accounts recording the transactions undertaken.

(b) A Trading, Profit and Loss Account for Adam Enterprises for the year ended 30 June 1984.

(c) A Balance Sheet at 30 June 1984