Business Accounting - Trial Balance/Income Statement Help

Hey all, just started my final year and theres a tiny section under my Money Banking and Financial Market module to do with basic accounting. I did this in year 1 and 2 and got 64% and 68% respectively...however after deferring my final year and coming back 12 months later I have completely forgotten where everything goes!
I can't seem to find any of my Year 2 work in my house and well am a bit stuck.
Doesn't help the Uni I've transferred to uses different wordings than what I'm used to!

If anyone can take a moment to say what in this list is i.e Current Asset, Non CA, CL, NCL Expense etc then I can label up my sheet and get working on this. I will also put what I've got so far in case its horribly wrong.

Ordinary Share Capital
Undistributed Profit
10% Debentures
Premises at cost (NCA)
Plant & Machinery at cost (NCA)
Motor Vehicles at cost (NCA)
P&M - depreciation (E)
MV - depreciation (E)
Goodwill (NCA)
Sales (CA)
Purchases (CL)
Trade Receivables (CA)
Trade Payables (CL)
Provision for doubtful debts
Bad Debts (CL)
General Admin Expense (E)
Selling Expense (E)
Directors renumeration
Debenture interest paid
Inventory (CA)
Bank Balance (CA)
Dividend paid.

I know this probably seems really basic, but my mind has gone blank, weirdly, once I know this I can then go on and complete the Income Statement and Balance sheet.

Cheers in advance

Hi there,

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Reply 2

Runninground

18

Original post by Blagger89

Hey all, just started my final year and theres a tiny section under my Money Banking and Financial Market module to do with basic accounting. I did this in year 1 and 2 and got 64% and 68% respectively...however after deferring my final year and coming back 12 months later I have completely forgotten where everything goes!
I can't seem to find any of my Year 2 work in my house and well am a bit stuck.
Doesn't help the Uni I've transferred to uses different wordings than what I'm used to!

If anyone can take a moment to say what in this list is i.e Current Asset, Non CA, CL, NCL Expense etc then I can label up my sheet and get working on this. I will also put what I've got so far in case its horribly wrong.

Ordinary Share Capital
Undistributed Profit
10% Debentures
Premises at cost (NCA)
Plant & Machinery at cost (NCA)
Motor Vehicles at cost (NCA)
P&M - depreciation (E)
MV - depreciation (E)
Goodwill (NCA)
Sales (CA)
Purchases (CL)
Trade Receivables (CA)
Trade Payables (CL)
Provision for doubtful debts
Bad Debts (CL)
General Admin Expense (E)
Selling Expense (E)
Directors renumeration
Debenture interest paid
Inventory (CA)
Bank Balance (CA)
Dividend paid.

I know this probably seems really basic, but my mind has gone blank, weirdly, once I know this I can then go on and complete the Income Statement and Balance sheet.

Cheers in advance

I'm not sure I would label them as NCA, CA, CL, NLC and expenses. I would use Expenses (E), Income (I), Assets (A), Drawings (D), Liabilities (L), Capital (C):

C Ordinary Share Capital
C Undistributed Profit
L 10% Debentures
A Premises at cost (NCA)
A Plant & Machinery at cost (NCA)
A Motor Vehicles at cost (NCA)
E P&M - depreciation (E)
E MV - depreciation (E)
A Goodwill (NCA)
I Sales (CA)
E Purchases (CL)
A Trade Receivables (CA)
L Trade Payables (CL)
L Provision for doubtful debts
E Bad Debts (CL)
E General Admin Expense (E)
E Selling Expense (E)
E Directors renumeration
E Debenture interest paid
A Inventory (CA)
A Bank Balance (CA)
D Dividend paid.

Business Accounting - Trial Balance/Income Statement Help

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