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Accounting Ledger and Financial Statements

The document includes ledger accounts for various financial categories such as Capital, Bank, Purchases, and Accounts Payable, detailing transactions and balances. It also presents a Statement of Profit or Loss showing a net profit of $600 and a Statement of Financial Position indicating total assets of $4,100, total equity of $2,600, and total liabilities of $1,500. Overall, it summarizes the financial performance and position of a business for the accounting period.

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Ky Sophea
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6 views4 pages

Accounting Ledger and Financial Statements

The document includes ledger accounts for various financial categories such as Capital, Bank, Purchases, and Accounts Payable, detailing transactions and balances. It also presents a Statement of Profit or Loss showing a net profit of $600 and a Statement of Financial Position indicating total assets of $4,100, total equity of $2,600, and total liabilities of $1,500. Overall, it summarizes the financial performance and position of a business for the accounting period.

Uploaded by

Ky Sophea
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

សាកលវទ� ្យោល័យេសដ�កចិ ន� ងិ ហិរ��វត��

UNIVERSITY OF ECONOMICS AND FINANCE


Prof. Hem Phirun
Student's name: Rady Solardavin
Homework
Subject: FA2

Solution
Prepare the ledger accounts

Capital Bank Purchases Accounts Payable


$ $ $ $ $ $ $ $
a. 2,000 a. 2,000 c. 3,600 b. 4,300 c. 3,600 b. 4,300
e. 2,000 f. 1,500
g. 900 c/d 4,300 c/d 700
c/d 2,000 c/d 800 4,300 4,300 4,300 4,300
2,000 2,000 6,000 6,000 b/d 4,300 b/d 700
b/d 2,000 b/d 800

Accounts recievable Sales Non-current assets Other expenses


$ $ $ $ $ $ $ $
d. 5,800 e. 3,200 d. 5,800 f. 1,500 g. 900

c/d 2,600 c/d 5,800 c/d 1,500 c/d 900


5,800 5,800 5,800 5,800 1,500 1,500 900 900
b/d 2,600 b/d 5,800 b/d 1,500 b/d 900
Trail balance
Accounts Debit ($) Credit ($)
Capital 2,000
Bank 800
Purchase 4,300
Accounts payable 700
Accounts recievable 2,600
Sale 5,800
Non-current assets 1,500
Other expenses 900
Total 9,300 9,300
Prepare a statement of profit or loss for the year

STATEMENT OF PROFIT OR LOSS FOR THE ACCOUNTING PERIOD

$
Sale revenue 5,800
Cost of Goods sold (Purchase) (4,300)
Gross Profit 1500

Expenses (900)
Net Profit 600
Prepare a statement of financial position as at the end of the year

STATEMENT OF FINANCIAL POSITION


AS AT THE END OF THE PERIOD

$ $
Assets
Non- current assets 1,500

Current Assets
Accounts recievable 2,600
Total assets 4,100

Equity and liabilities


Capital 2,000
Net profit 600
Total equity 2,600

Liabilities
Current liabilities
Accounts payable 700
Bank overdraft 800
Total liabilities 1,500
Total equity and liabilities 4,100

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