Company accounts - rebuild a set of accounts
CheapSkate plc has just completed their year's trading and produced the following figures. Using the data below construct the balance sheet and the profit and loss account for the company. All the figures are included and if placed in the correct order and location should ensure the accounts balance. The end of the financial year is March 31st.
N.b. dividends, interest and taxes have not yet been paid.
| Overdrafts | 50 |
| Net Profit after interest and tax | 200 |
| Costs of goods sold | 2500 |
| Dividends | 100 |
| Sales revenue | 5000 |
| Reserves | 1550 |
| Net profit before interest and tax | 400 |
| Net current assets | 150 |
| Capital employed | 2400 |
| Debtors | 250 |
| Gross profit | 2500 |
| Cash | 100 |
| Stock | 250 |
| Plant | 1200 |
| Debentures | 50 |
| Nets assets | 2400 |
| Share capital | 500 |
| Buildings | 500 |
| Taxation | 100 |
| Creditors | 200 |
| Interest | 100 |
| Retained profit | 100 |
| Motor vehicles | 250 |
| Bank loans over one year | 200 |
| Expenses | 2100 |
| Furniture and fittings | 300 |
| Net current assets | 150 |
After you have prepared your answers, follow the links to the balance sheet and profit and loss account below to check your answers.
