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Time left 1.11:45 Ledger accounts and pro forma financial statements are provided for this question in your downloaded Word file). The following list of transactions
Time left 1.11:45 Ledger accounts and pro forma financial statements are provided for this question in your downloaded Word file). The following list of transactions relates to a Plastic Bottle Manufacturers, Plastic B, during October 2020, its first month of business. Oct Transaction E 1 Owner puts cash into the business 25,000 2 Buys Bottling Machine for cash 4,000 3 Receive invoice no.1 for October's insurance 900 4 Purchases Computers 200 5 Buys stock of plastic on credit from Plastic Ru 1,200 8 Pays insurance invoice no.1 for the month in cash 900 11 Sells 1000 worth of bottles for cash 12 Sells 3000 worth of bottles on credit to Colla 1,000 3,000 1,750 13 14 1,000 Pay wages to employee cash Colla pays 1000 cash towards their bill on 12th October The machine purchased on 2ND October is to be depreciated using 10% straight line per month 31 1,000 31 The closing stock of plastic is 400 Required: (a) Prepare the ledger accounts of the above transactions (b) Using your answer from (a), prepare a profit and loss account for the month of October and a balance sheet as at that date (31 October 2020) Please use and fill in the pro-forma you downloaded from MyPlace and save when you are finished. When finished please upload your file in the box provided below: Company (0) (0) Profit and loss account for the month of October Year xx Revenue Cost of Sales Gross Profit Expenses: Wages Depreciation Insurance Total Profit Nominal Name: Date Details DR CR Balance II Nominal Name: Date Details DR CR Balance Nominal Name: Date Details DR CR Balance
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