40.11 be following are summaries of the cash book and bank accounts of J. Duncan who does his books using the double entry s The follo Bank Summary Balance on 1 January 2018 Receipts 8,000 Accounts receivable Cash banked 26,000 4,100 Payments 30,100 38,100 18,500 1,400 7,500 6,100 1,450 250 Trade accounts payable Rent Machinery Wages Insurance Accounts receivable (dishonoured cheque) Loan interest Balance on 31 December 2018 Cash Summary Balance on 1 January 2018 Receipts Cash sales Accounts receivable 300 35,500 2,600 300 14,000 400 14,400 14,700 9,500 300 750 4,100 14,650 Payments Drawings Repairs Electricity Cash banked Balance on 31 December 2018 The following referred to 2018 Bad debts written-off Discount received Goods withdrawn by J. Duncan for own use Credit note issued 400 350 300 1,200 1 January 2018 31 December 2018 The following additional information is available. 4,100 3,200 15,900 Inventory Machinery 12,600 200 Rent prepaid Rent owing 6,300 2,400 250 5,000 2,500 5,000 100 5,000 Accounts receivable Accounts payable Loan from bank at 8% Loan interest owing You are required to: la) Calculate the 1) Prepare the late the value of J. Duncan's capital on 1 January 2018 are the Income Statement for the year ending 31 December 2018. cottish Qualifications Authority 40.11 be following are summaries of the cash book and bank accounts of J. Duncan who does his books using the double entry s The follo Bank Summary Balance on 1 January 2018 Receipts 8,000 Accounts receivable Cash banked 26,000 4,100 Payments 30,100 38,100 18,500 1,400 7,500 6,100 1,450 250 Trade accounts payable Rent Machinery Wages Insurance Accounts receivable (dishonoured cheque) Loan interest Balance on 31 December 2018 Cash Summary Balance on 1 January 2018 Receipts Cash sales Accounts receivable 300 35,500 2,600 300 14,000 400 14,400 14,700 9,500 300 750 4,100 14,650 Payments Drawings Repairs Electricity Cash banked Balance on 31 December 2018 The following referred to 2018 Bad debts written-off Discount received Goods withdrawn by J. Duncan for own use Credit note issued 400 350 300 1,200 1 January 2018 31 December 2018 The following additional information is available. 4,100 3,200 15,900 Inventory Machinery 12,600 200 Rent prepaid Rent owing 6,300 2,400 250 5,000 2,500 5,000 100 5,000 Accounts receivable Accounts payable Loan from bank at 8% Loan interest owing You are required to: la) Calculate the 1) Prepare the late the value of J. Duncan's capital on 1 January 2018 are the Income Statement for the year ending 31 December 2018. cottish Qualifications Authority