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Help with cash statement and income statement watch

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    I need help with the following to do a cash and income statement with the given information below:

    The following transactions took place in the books of Kool Enterprises:

    2013

    Jan 1 Started business with £50,000 in the bank.
    Jan 2 Purchased goods for £18,000 on credit from KK Ltd.
    Jan 3 Bought a motor van paying by cheque £10,000.
    Jan 4 Bought stationery £160 paying by cheque.
    Jan 5 Paid one month's rent plus a month's deposit totalling £6,000 by cheque.
    Jan 8 Sold goods for cash amounting to £2,000, which was banked.
    Jan 15 Purchased further goods for £2,000 paying by cheque.
    Jan 16 Paid by cheque for diesel amounting to £120.
    Jan 17 Insurance premium for the year amounting to £1,200 was paid by cheque.
    Jan 18 Sold goods on credit to JJ Ltd amounting to £12,000.
    Jan 19 Paid for stationery amounting to £120 by cheque.
    Jan 20 Sold goods receiving payment by cheque amounting to £6,000.
    Jan 25 Sold further goods on credit to KK Ltd amounting to £14,000.
    Jan 30 Paid one month's wages by cheque amounting to £1,500.
    Jan 30 The proprietor took cash for himself of £150 from the bank.

    The following additional information was made available at the end of the month:-

    1) Closing Inventory amounted to £1500.

    2) Telephone bill of £400 was unpaid.

    3) Rates of £300 per month was unpaid.

    Kool Enterprise charges depreciation at the rate of 25% per annum on cost on all its non current assets.

    Kool Enterprise provides a full month’s depreciation in the month of purchase and none in the month of sale.

    Required:

    As Kool Enterprise's accountant, you are required to:

    a) Prepare a cash statement (incorporating both cash and bank transactions) for the month of January 2013.

    b) Prepare an Income Statement for the month ended 31 January 2013 making reasonable adjustments.
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    (Original post by Youngricks)
    I need help with the following to do a cash and income statement with the given information below:

    The following transactions took place in the books of Kool Enterprises:

    2013

    Jan 1 Started business with £50,000 in the bank.
    Jan 2 Purchased goods for £18,000 on credit from KK Ltd.
    Jan 3 Bought a motor van paying by cheque £10,000.
    Jan 4 Bought stationery £160 paying by cheque.
    Jan 5 Paid one month's rent plus a month's deposit totalling £6,000 by cheque.
    Jan 8 Sold goods for cash amounting to £2,000, which was banked.
    Jan 15 Purchased further goods for £2,000 paying by cheque.
    Jan 16 Paid by cheque for diesel amounting to £120.
    Jan 17 Insurance premium for the year amounting to £1,200 was paid by cheque.
    Jan 18 Sold goods on credit to JJ Ltd amounting to £12,000.
    Jan 19 Paid for stationery amounting to £120 by cheque.
    Jan 20 Sold goods receiving payment by cheque amounting to £6,000.
    Jan 25 Sold further goods on credit to KK Ltd amounting to £14,000.
    Jan 30 Paid one month's wages by cheque amounting to £1,500.
    Jan 30 The proprietor took cash for himself of £150 from the bank.

    The following additional information was made available at the end of the month:-

    1) Closing Inventory amounted to £1500.

    2) Telephone bill of £400 was unpaid.

    3) Rates of £300 per month was unpaid.

    Kool Enterprise charges depreciation at the rate of 25% per annum on cost on all its non current assets.

    Kool Enterprise provides a full month’s depreciation in the month of purchase and none in the month of sale.

    Required:

    As Kool Enterprise's accountant, you are required to:

    a) Prepare a cash statement (incorporating both cash and bank transactions) for the month of January 2013.

    b) Prepare an Income Statement for the month ended 31 January 2013 making reasonable adjustments.
    What do you need help with? What is troubling you specifically?
 
 
 
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