endatan Auto Sale Of A Create Tal Financial Reports Protected View Ex... File Home insert Page Layout Formulas Data Review View Help PROTECTED VIEW Be carefules from the Internet can contain viruses. Unless you need to edit 's safer to stay in Protected View Enable Editing CREATIVE LIMITED Assume that you are working a Chief Financial Officer (CFO) for Creative Limited The CEO of creative limited called a meeting with you and discussed the financial standings of the company. The core agenda of the meeting was to obtain a credit facility from the bank. So in order to obtain the credit facility from the bank you need Trading and Profit Account and for the year ended 30 June 2018 and a Balance Sheet as on June 30, 2018 After examination of the financial records of Creative Limited, you extracted the following information Share Cpital Creditors Accrued Rent Long Term Loan Balance Sheet As at June 30, 2017 GBP EN : 43 966 vehicles 1 1 020 Furniture 2 00 Stock-in-trade 279 Debtors Prepaid insurance Balance at bank Cash in hand GBP 20,000 10,000 18,050 3 500 150 3.606 159 55465 55465 Purchased goods from a single supplier who allows a discount of 3% on goods purchased in excess of 30,000 in a year. The discount for the year ended 30 June 2018 amounts to 2,658 and would be recceived in August 2018 5 All gods are sold at cost plus 60% Task Page O de Address AutoSave r - Creative-Task Financial Reports Protected View - Ex. File Home Insert Page Layout Formulas Data PROIECTED VIEW Be carefulles from the Internet can contain viruses. Unless you need to edit 'swer to stay in Protected view Enable Editing D2 Xf G 21 22 Purchased goods from a single supplier who allows a discount of 3% on goods purchased in excess of 30,000 in a year. The discount for the year ended 30 June 2018 amounts to 2,658 and would be received in August 2018 25 Algods are sold at cost plus 60% 27 All cash received against sale of goods has been banked with the exception of the following weekly average cash expenses/drawings GBPE 300 NAREA Drawings Camage Outward Petrol Mic expenses 15 N Cash in hand on 30 June 2018 amounted to 26.700 37 An analysis of the bank statement revealed the following information GBPE GBP E Recepts Collection from debtors Cash deposited into bank Payments 4644 Purchase of goods 137178 Vehicle expenses (for business) Rent Repayment of long term loan Salaries Purchase of freehold land Travelling expenses 730 420 279 16000 25000 400 Address Unless you need to edit, it's safer to stay in Protect Enable Editing O Be careful files from the internet PROTECTED VIEW as in Cash in hand on 30 June 2018 amounted to 26 700 37 An analysis of the bank statement revealed the following information Receipts Collection from debtors Cash deposited into bank GBP Payments 4644 Purchase of goods 137178 Vehicle expenses (for business) Rent Repayment of long term loan Salaries Purchase of freehold land Travelling expenses Printing & Stationery Advertisement Insurance Truck hire charges Misc. expenses 141 822 GBP 98507 730 420 279 16000 25000 400 460 1250 500 6570 3623 153,739 54 Depreciation on vehicles and furniture is to be provided @ 30% and 15% respectively under the reducing balance method 56 vi Stock-in-trade on 30 June 2018 amounted to 7020 Task Page o Address