A/508/0496 Financial Accounting | Depreciation and Prepayments

Learning outcomes

LO2 -  the student need to conduct the final accounts for the sole trader and limited partnership and limited companies. Considering the appropriate principles, conventions and standards. All the financial statement need to be prepared in vertical running balance sheet.

LO3 – make bank reconciliation statement in order to ensure company and bank records.

LO4 -  Reconcile control accounts and shift recorded transactions

Assessment

Question 1 – Develop the final accounts from the trail balance where the figured are given below.

Question 2- The student need to prepare the final accounts for the limited company

Question 3- You are required to discuss the comparison between the income statement and statement of financial position.

 Question 4- Establish one bank conciliation which will consists of bank conciliation. Analyse how this helps in rectifying the general accounts and balance sheet.

 Question 5- identify in detail that how control accounts and suspense accounts are reconciled.