The following data was obtained from the books of The Green Lantern for the year 2013:

January 1	Bal b/d	Debtors Creditors	Dr 45,000 Dr 3,900	Cr 1,200 Cr 25,000
Totals for the year Cash sales	70,000
Cash purchases	40,000
Sales returns	5,000
Purchases returns	2,500
Discount allowed	700
Discounts received	1,200
Bad debts	2,700
Refund to credit customers	1,100
Refund from credit suppliers	3,000
Payments to creditors	39,000
Receipts from debtors	65,000
Dishonoured cheques	7,000
Dec 31	Bal c/d	Debtors	Dr	100	Cr 98,600
		Creditors	Dr	77,300	Cr 900

Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and credit purchases for the year.

The Kingston Merchandise Company has supplied the following data for 2012:

Jan 1 Purchases ledger balance	11,874
Sales ledger balance	19,744
Totals for the year: Purchases journal	154,562
Sales journal	199,662
Return outwards journal	2,648
Return inwards journal	4,556

1

Cheques to suppliers	146,100
Cash paid to suppliers	78

2

Cheques received from customers	185,960
Discount allowed	5,830
Discount received	2,134
Bad debts written off	396
Set off between SL and PL	1,036

Required: Prepare the SLCA and the PLCA for the year, showing the closing balances.

Sir Francis Blythe is a business operator in Westmoreland. The following data was obtained for the year 2013:

Non-current assets	January	December
Equipment at book value	750,000	920,000
Motor vehicle at book value Transactions during the year:	600,000	740,000

Equipment with book value of $35,000 was sold for $42,000

New equipment was purchased for $220,000

Motor vehicle with book value of $40,000 was sold for $25,000

New motor vehicle was purchased for $200,000

Required:

Write up the equipment and motor vehicle accounts for the year, clearly showing the amounts for depreciation

Write up the equipment and the motor vehicle disposal accounts indicating whether there was a gain or a loss on the sale of each asset