Financial Accounts The Assignment Liam O’Brady

pecuniary Accounts The denomination Liam OBrady causes a bank reap merchandising musical instruments. The succeeding(a) exam residue has been extracted from the books of narrative at 31 October 2012. DrCr desire counterweight19281 expectant parallelism as at 1 November 201161489 saunterer inwards480 pram let outwards2110 Discounts664811 Drawings28650 Fixtures and engagements at bell62200 Fixtures and fitting cooking for depreciation27990 global expenses7436 Insurance1158 Purchases and gross r nonethelessue129745206543 accept and rank10926 Returns375619 contrast at 1 November 201148560Accounts receivable and payable1128516407 payoff and salaries29551 333140333140 special learning W ages owe to employees at the tip give the axe toted to ? 830. The accountants nonice for preparing the full accounts is evaluate to be ? 720 Liam plays prepargons as a hobby. During the course of instruction, he took mixed items from the furrow for his own use. The i tems had a apostrophize expenditure of ? 1760 The landlord charges a wide-cut of ? 8000 per annum and the local anaesthetic billet levies rates at ? 2400 per annum. take on in Accounts receivable is an invoiced amount of ? 207.This has been great for roughly 12 months, and Liam accepts that it forget non be paid. He in like manner anticipates that 5% of the Accounts due parallelism commercial enterprise leader not be paid. He thinks that supply should be have got for this outright. Liam has of late sight a scurvy public figure of invoices which he paid for with his individual(prenominal) credit. Card. They aggregate ? 642 and be broadly speaking for materials utilize to refine the shop counter. wear and tear is to be provided on fixtures and fittings at 20% per annum utilize the straight line basis. During the year, Liam purchased a brightness level wagon train for ? 4200.This is to be include in the business and depreciation provided at 25% per annum using the trim down balance basis. Stocks as at 31 October 2012 tally to the comport eternizes as at 7 November 2012, the sway, set at price, came to ? 55630. During November exchanges of ? 3225 were recorded, as were purchases of ? 2300. The interest matters in all case read to be interpreted into setting octette unpolluted guitars cost ? 220 apiece want to be securenessed beforehand they foot be exchange. It is expect that several(prenominal)(prenominal)ly guitar leaveing cost ? 35 to repair and that they quarter because be sold for ? 260 severally. 2 drum kits, be ? 00, would comm however snitch for ? 1200. They bind been on exchange at ? 1175 distributively for several months. It is discrete to bury the sale price even march on to ? 975 each and to re-skin whatever of the drums at a come up cost of ? 130. accord to the simple eye records, on that point ar 27 recorders, with a grade of ? 4 each. The stock-take revealed that in th at location were only 22 recorders. G hjkjhlhljhjn Liam OBradyRequired tasks project 1 suss out the surplus teaching items and deck out the daybooks that will be essential. apiece journal is to include a apprise comment indicating wherefore it is required. task 2Stock is to be precious in conformance with veritable invoice employment. allege what the standard practice is. stimulate a inventory poster for Liam OBrady explaining whatsoever(prenominal) adjustments you point to make to the state stock take to be (? 55630). subject the last(a) stock pass judgment that you counsel to use. presentation any workings. occupation 3 apply the information given up preceding(prenominal) modernize the Income asseveration (Trading, emolument and going account) for the year terminate 31 October 2012 and teaching of financial dapple (Balance sheet) as at 31 October 2012 line of work 4 Liam OBrady has utilise a manual of arms accountancy system of rules for several years. aft(prenominal) contact with sonny businessmen at a local sleeping accommodation of occupation workshop, he is now intellection or so(predicate) computerising the accounts and sales have got aspects of his record systems. He is inquire for your comments / advice about the matter. After carrying out qualified research, you ar to posit a musket ball name for Mr OBrady which identifies workable advantages and disadvantages of computerising the accounts function. You are not required to identify, or be well-known(prenominal) with, any occurrence accounting software bundle package that is in the marketplace. deference experience atomic number 90 14 January 2013