Stock at cost Trade debtors

Accrued utilities

Furniture at cost

Accumulated depreciation

Trade creditors

Credit card receivables (net)

June 30, 2011

$

June 30, 2012

$

221,600

105,800

31.700

35,000

1.800

2,200

100,000

90,000

20,000

27,000

30.500

26,200

1,470

2,744

Required:

Stocks are valued at cost or net realizable value, whichever is lower. The accounts are prepared under the historical cost convention. All amounts are stated in Jamaican dollars.

1. Prepare the Trade creditors control account

2. Prepare the Trade debtors control account

3. Prepare the Credit card receivables account

4. Prepare the Statement of Affairs at July 1. 2011

(4 marks)

(5 marks)

(3 marks)

(6 marks)

5. Prepare the Statement of Comprehensive Income for the year ended June

30, 2012

(10 marks)

6. Prepare the Statement of Financial Position as at June 30, 2012

(12 marks)