Junior Certificate. Eurobusiness. Second Edition. Teacher s Manual. John Taylor B.Comm HDE. Folens

Transcription

1 Junior Certificate Eurobusiness Second Edition Teacher s Manual John Taylor B.Comm HDE Folens

2 Editor: Sinéad Lawton Design and Layout: Gary Dermody 2006 John Taylor Folens Publishers, Hibernian Industrial Estate, Greenhills Road, Tallaght, Dublin 24. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from the Publisher. The Publisher reserves the right to change, without notice, at any time, the specification of this product, whether by change of materials, colours, bindings, format, text revision or any other characteristic. Contents The Business of Living Chapter 1 Household Income...1 Chapter 2 Household Expenditure...2 Chapter 3 Household Budgeting...5 Chapter 4 Household Budgeting Revised (HL)...13 Chapter 5 Household Accounts and Filing...19 Chapter 9 Saving and Investing...20 Chapter 10 Borrowing...21 Chapter 11 Household Purchases...22 Chapter 12 Household and Business Insurance...23 The Business Environment Chapter 13 An Introduction to Economics...24 Chapter 14 The National Budget...25 Chapter 15 Foreign Trade...26 Chapter 18 Planning the Business...27 Chapter 24 The Employer...31 Chapter 27 Delivery Systems...36 Record Keeping Chapter 31 Purchases and Purchases Returns (HL)...37 Chapter 32 Sales and Sales Returns (HL)...38 Chapter 33 The Cash Book...39 Chapter 34 The General Journal (HL)...40 Chapter 35 Record-Keeping Revised (HL)...41 Chapter 36 Bank Accounts...42 Chapter 37 Control Accounts (HL)...43 Chapter 38 The Petty Cash Book (HL)...44 Chapter 39 The Trading Account...45 Chapter 40 The Profit and Loss Account...46 Chapter 41 The Profit and Loss Appropriation Account...47 Chapter 42 The Balance Sheet...48 Chapter 43 Adjustments to the Final Accounts (HL)...49 Chapter 44 Ledger Accounts for Adjustments (HL)...50 Chapter 45 Assessing the Business...51 Chapter 46 Club Accounts...52 Chapter 47 Farm and Service Firm Accounts...53

3 Chapter 1 Household Income Assignments 4. (iii) #8, Jan. Feb. Mar. Apr. Total Paul Curtis Salary 1,450 1,450 1,450 1,450 5,800 Mary Curtis Salary ,560 Child Benefit Total 2,220 2,220 2,220 2,220 8,880 Jan. Feb. Mar. Apr. Total James Wright Salary 1,870 1,870 1,870 1,870 7,480 Susan Wright Salary 1,400 1,400 1,400 1,400 5,600 Child Benefit Sale of Car 1,000 1,000 Total 3,335 3,335 3,335 3,335 14,340 Jan. Feb. Mar. Apr. Total John Doolin Salary 1,500 1,500 1,500 1,900 6,400 Elaine Doolin Salary 1,300 1,300 1,300 1,300 5,200 Lottery win 2,000 2,000 Sale of shares 1,500 1,500 Total 2,800 4,800 4,300 3,200 15, Jan. Feb. Mar. Apr. May. June. Total PJ O Callaghan Salary 1,400 1,750 1,400 1,400 1,750 1,400 9,100 Mary O Callaghan Salary ,350 Child Benefit Sale of Computer Total 1,530 2,330 1,830 1,980 1,880 1,980 11, Jan. Feb. Mar. Apr. Total PLANNED INCOME Alan Brennan Salary 1,350 1,350 1,485 1,485 5,670 Margaret Brennan Salary 1,400 1,400 1,400 1,650 5,850 Child Benefit Interest from Savings TOTAL INCOME 2,840 2,900 2,975 3,225 11,940 1

4 Chapter 2 Household Expenditure Assignments 6(a) Keegan Family Jan. Feb. Mar. Apr. May. June. TOTAL PLANNED EXPENDITURE Fixed Mortgage Car Loan House Insurance Subtotal ,130 Irregular ESB Groceries Telephone Subtotal ,031 Discretionary Entertainment Furniture Subtotal TOTAL EXPENDITURE 1,104 1,668 1,112 1,087 1,106 1,074 7,151 (b) O Toole Family July. Aug. Sept. Oct. Nov. Dec. TOTAL PLANNED EXPENDITURE Fixed Mortgage ,100 House Insurance Subtotal Irregular Gas Telephone School Expenses Groceries Car Expenses Subtotal ,110 Discretionary Entertainment Holiday 1,000 1,000 Subtotal 55 1, ,330 TOTAL EXPENDITURE 690 1,724 1, ,810

5 (c) Meehan Family Jan. Feb. Mar. Apr. TOTAL PLANNED EXPENDITURE Fixed Mortgage ,880 Car Loan Subtotal ,480 Irregular ESB Telephone Clothes Car Service Groceries Subtotal Discretionary Entertainment Furniture 1,000 1,000 Subtotal 70 1, ,280 TOTAL EXPENDITURE 844 1,876 1, ,702 (d) O Reilly Family Sept. Oct. Nov. Dec. TOTAL PLANNED EXPENDITURE Fixed Mortgage ,040 Car Insurance Television Licence Subtotal ,333 Irregular Telephone Groceries School Expenses Gas Car Expenses Subtotal ,217 Discretionary Entertainment Holiday Beauty Treatment Subtotal ,140 TOTAL EXPENDITURE 1,098 1, ,026 4,690

6 7. Ellisson Family July Aug. Sept. Oct. TOTAL PLANNED EXPENDITURE Fixed House Mortgage ,800 Car Loan Car Tax Subtotal ,860 Irregular ESB School Costs Telephone Groceries ,224 Subtotal ,634 Discretionary Entertainment Holiday 1,100 1,100 House Re-decoration Subtotal 220 1, ,530 TOTAL EXPENDITURE 1,251 2,371 1,286 1,116 6,024

7 Chapter 3 Household Budgeting 4. Kealy Family Jan. Feb. Mar. Apr. TOTAL TOTAL INCOME 12,000 12,600 12,000 13,400 50,000 Fixed Expenditure subtotal 4,500 4,500 4,500 4,500 18,000 Irregular expenditure subtotal 3,700 4,500 3,800 3,700 15,700 Discretionary expen. subtotal 2,300 2,400 2,500 4,600 11,800 TOTAL EXPENDITURE 10,500 11,400 10,800 12,900 45,600 NET CASH 1,500 1,200 1, ,400 OPENING CASH 100 1,600 2,800 4, CLOSING CASH 1,600 2,800 4,000 4,500 4,500 Wright Family Mar. Apr. May June TOTAL TOTAL INCOME 15,000 16,700 14,900 14,900 61,500 Fixed Expenditure subtotal 4,700 4,700 4,700 5,100 19,200 Irregular expenditure subtotal 5,500 6,100 5,800 4,200 21,600 Discretionary expen. subtotal 3,700 2,200 2,200 4,900 1,300 TOTAL EXPENDITURE 13,900 13,000 12,700 14,200 53,800 NET CASH 1,100 3,700 2, ,700 OPENING CASH 500 1,600 5,300 7, CLOSING CASH 1,600 5,300 7,500 8,200 8,200 Convey Family May June July Aug. TOTAL TOTAL INCOME 12,950 12,950 12,950 12,950 51,800 Fixed Expenditure subtotal 3,770 4,100 4,100 3,600 15,570 Irregular expenditure subtotal 4,500 5,300 5,700 4,700 20,200 Discretionary expen. subtotal 3,100 4,150 3,990 3,400 14,640 TOTAL EXPENDITURE 11,370 13,550 13,790 11,700 50,410 NET CASH 1, ,250 1,390 OPENING CASH 700 2,280 1, CLOSING CASH 2,280 1, ,090 2,090

8 5. Keogh Family Jan. Feb. Mar. Apr. Total PLANNED INCOME Mark Keogh Salary 1,200 1,200 1,200 1,200 4,800 Jill Keogh Salary 1,300 1,300 1,300 1,300 5,200 Child Benefit TOTAL INCOME 2,540 2,540 2,540 2,540 10,160 PLANNED EXPENDITURE Fixed Mortgage ,600 Car Loan Annual Car Tax House Insurance Annual Car Insurance Subtotal ,620 Irregular Household Costs ,080 ESB Telephone Car Running Costs Subtotal ,140 Discretionary Presents Entertainment Holiday 1,000 1,000 Subtotal , ,500 TOTAL EXPENDITURE 1,400 1,740 2,540 1,580 7,260 NET CASH 1, ,900 OPENING CASH 120 1,260 2,060 2, CLOSING CASH 1,260 2,060 2,060 3,020 3,020

9 6. John Wilson Jan. Feb. Mar. Total PLANNED INCOME Salary 1,100 1,100 1,100 3,300 Total Income 1,100 1,100 1,100 3,300 PLANNED EXPENDITURE Fixed Apartment Rent ,200 Insurance Subtotal ,362 Irregular Groceries Telephone Subtotal Discretionary Entertainment Subtotal TOTAL EXPENDITURE ,287 NET CASH ,013 OPENING CASH CLOSING CASH ,113 1, Elizabeth Dardis Apr. May. June. Total PLANNED INCOME Salary 1,250 1,250 1,250 3,750 Total Income 1,250 1,250 1,250 3,750 PLANNED EXPENDITURE Fixed House Mortgage ,680 Car tax House Insurance Subtotal ,955 Irregular Groceries ESB Gas Subtotal Discretionary Entertainment Clothes Subtotal TOTAL EXPENDITURE 900 1,075 1,015 2,990 NET CASH OPENING CASH CLOSING CASH

10 8. O Callaghan Family July Aug. Sept. Oct. TOTAL PLANNED INCOME Salary Mark 1,700 1,700 1,700 1,700 6,800 Salary Rachel 1,350 1,350 1,350 1,350 5,400 Total Income 3,050 3,050 3,050 3,050 12,200 PLANNED EXPENDITURE Fixed House Mortgage ,600 Car Insurance TV Licence Subtotal 1, ,158 Irregular Groceries Telephone Motor Expenses Subtotal ,310 Discretionary Entertainment Holiday 1,800 1,800 Subtotal 80 1, ,120 TOTAL EXPENDITURE 1,515 2,873 1, ,588 NET CASH 1, ,815 2,085 5,612 OPENING CASH 200 1,735 1,912 3, CLOSING CASH 1,735 1,912 3,727 5,812 5,812

11 9. Daly Family Jan. Feb. Mar. Apr. May. June. TOTAL PLANNED INCOME Salary Mark 1,850 1,850 1,850 1,850 1,850 1,850 11,100 Salary Elaine ,600 Child Benefit Total Income 2,510 2,510 2,510 2,510 2,510 2,510 15,060 PLANNED EXPENDITURE Fixed House Mortgage ,840 Insurance TV Costs Subtotal ,505 Irregular Groceries ,050 Telephone Motor Expenses Subtotal ,225 Discretionary Entertainment Holiday 1,500 1,500 Golf Club 1,400 1,400 Subtotal 75 1, ,575 3,350 TOTAL EXPENDITURE 1,090 2,680 1,090 1,360 1,170 2,690 10,080 NET CASH 1, ,420 1,150 1, ,980 OPENING CASH 300 1,720 1,550 2,970 4,120 5, CLOSING CASH 1,720 1,550 2,970 4,120 5,460 5,280 5,280

12 10. Caulwell Family Jun. Jul. Aug. Sept. TOTAL PLANNED INCOME Simon Caulwell Salary 1,300 1,450 1,300 1,300 5,350 Eileen Caulwell Salary 1,500 1,500 1,500 1,500 6,000 Child Benefit Interest on Savings TOTAL INCOME 2,940 3,040 2,890 2,890 11,760 PLANNED EXPENDITURE Fixed Apartment Rent ,320 Car Loan Car Insurance House Insurance Subtotal 1, ,985 Irregular Household Expenses ,770 Car Running Costs School Uniforms & Books Gas Telephone Subtotal ,160 3,379 Discretionary Presents Entertainment Holiday 1,650 1,650 Subtotal 80 1, ,110 TOTAL EXPENDITURE 2,374 3,360 1,750 1,990 9,474 NET CASH , ,286 OPENING CASH , CLOSING CASH ,486 2,386 2,386 10

13 11. Carole Sheridan Sept. Oct. Nov. Dec. TOTAL PLANNED INCOME Carole Sheridan Salary 1,350 1,350 1,350 1,350 5,400 Child Benefit Interest on Savings TOTAL INCOME 1,380 1,430 1,380 1,380 5,570 PLANNED EXPENDITURE Fixed House Mortgage ,360 Insurance Childminding Television Subtotal ,082 Irregular Household Expenses Car Running Costs Telephone Light and Heat School Uniforms & Books Subtotal ,857 Discretionary Entertainment Presents/Party Course Fees Subtotal TOTAL EXPENDITURE 1, ,035 1,089 4,539 NET CASH ,031 OPENING CASH CLOSING CASH ,151 1,151 11

14 12. Gardiner Family Jan. Feb. March April TOTAL PLANNED INCOME Alan Gardiner -Salary ,240 Mary Gardiner Salary ,400 Child Benefit TOTAL INCOME ,880 PLANNED EXPENDITURE Fixed House Mortgage Bank Loan House Insurance Subtotal ,340 Irregular Groceries Telephone ESB Oil School Expenses Travel Expenses Subtotal ,331 Discretionary Entertainment Painting and Decoration Subtotal TOTAL EXPENDITURE ,011 NET CASH OPENING CASH CLOSING CASH ,019 1,019 12

15 Chapter 4 Household Budgeting Revised (HL) 1. Hilliard Family July Aug. Sept. Oct. Nov. Dec. Total PLANNED INCOME Michael Hilliard Salary ,120 Megan Hilliard Salary 1,000 1,000 1,000 1,050 1,050 1,050 6,150 Child Benefit TOTAL INCOME 1,860 1,860 1,860 1,910 2,070 2,070 11,630 PLANNED EXPENDITURE Fixed House Mortgage ,612 Car Loan Car Insurance House Insurance Subtotal ,926 Irregular Household Costs ,250 Car Running Costs ESB Telephone Subtotal ,520 Discretionary Entertainment Christmas Presents Home Decoration Holiday Subtotal ,800 TOTAL EXPENDITURE 1,563 2,138 1,453 1,995 1,521 1,576 10,246 NET CASH ,384 OPENING CASH CLOSING CASH ,484 1,484 13

16 3. Lawlor Family Jan. Feb. Mar. Apr. May. June TOTAL PLANNED INCOME Kenneth Lawlor Salary ,725 Sadie Lawlor Salary ,040 Child Benefit Sale of Shares TOTAL INCOME 1,610 1,610 1,610 1,685 2,405 1,805 10,725 PLANNED EXPENDITURE Fixed House Mortgage ,087 Car Loan Insurance Subtotal ,991 Irregular Groceries ,280 Car Running Costs Gas Subtotal ,995 Discretionary Entertainment Clothes Holiday New Furniture Subtotal , ,430 TOTAL EXPENDITURE 1,474 1,389 1,394 2,553 1,413 1,193 9,416 NET CASH ,309 OPENING CASH CLOSING CASH ,359 1,359 14

17 4. Rooney Family Jan. Feb. Mar. Apr. Total J A Estimate M D Total For Year PLANNED INCOME Gerard Rooney Salary ,600 7,920 11,520 Elaine Rooney Salary ,400 5,250 7,650 Child Benefit TOTAL INCOME 1,530 1,530 1,530 1,530 6,120 13,410 19,530 PLANNED EXPENDITURE Fixed Mortgage ,520 2,680 4,200 Annual Car Tax House Insurance Annual Car Insurance Subtotal ,944 3,576 5,520 Irregular Household Costs ,400 3,090 4,490 Car Running Costs ,390 1,990 ESB Subtotal ,114 4,816 6,930 Discretionary Presents Entertainment Holiday ,500 1,800 Subtotal ,125 2,625 TOTAL EXPENDITURE 951 1, ,031 4,558 10,517 15,075 NET CASH ,562 2,893 4,455 OPENING CASH , , CLOSING CASH ,163 1,662 1,662 4,555 4,555 15

18 5. Paul, Sinead & Family Jan. Feb. Mar. Total J M Estimate A D Total For Year PLANNED INCOME Paul O Hara Salary ,980 6,605 8,585 Sinead Scanlon Salary ,200 7,420 9,620 Child Benefit TOTAL INCOME 1,490 1,290 1,490 4,270 14,295 18,565 PLANNED EXPENDITURE Fixed Mortgage ,440 4,440 5,880 Car Tax House Insurance Car Loan Subtotal ,165 5,175 7,340 Irregular Household Costs ,260 4,100 5,360 Car Running Costs ,470 1,920 Gas Telephone Subtotal ,945 6,450 8,395 Discretionary Presents Entertainment ,110 Holiday 1,400 1,400 Subtotal ,510 2,770 TOTAL EXPENDITURE 1,515 1,435 1,420 4,370 14,135 18,505 NET CASH OPENING CASH CLOSING CASH

19 6. Gleeson Family Jan. Feb. Mar. TOTAL Jan. Feb. Mar. TOTAL PLANNED INCOME Jim Gleeson Salary 1,200 1,200 1,200 3,600 1,320 1,320 1,320 3,960 Gail Gleeson Salary , Child Benefit TOTAL INCOME 2,080 2,080 2,080 6,240 2,230 1,380 1,380 4,990 PLANNED EXPENDITURE Fixed House Mortgage , ,050 Car Loan Child Minding Costs Car Insurance House Insurance Subtotal , ,595 Irregular Household Costs Car Running Costs ESB Telephone Subtotal , ,205 Discretionary Entertainment Presents Holiday Subtotal Savings TOTAL EXPENDITURE (Including Savings) 1,255 1,505 1,285 4,045 1,070 1, ,380 Net Cash ,195 1, ,610 Opening Cash , ,210 1, Closing Cash 875 1,450 2,245 2,245 1,210 1,230 1,660 1,660 17

20 7. Barnes Family Oct. Nov. Dec. TOTAL Oct. Nov. Dec. TOTAL PLANNED INCOME Brian Barnes Salary , ,260 Linda Barnes Salary , ,660 Child Benefit TOTAL INCOME 1,260 1,260 1,260 3, ,060 1,060 3,100 PLANNED EXPENDITURE Fixed House Mortgage Child Minding Costs Car Insurance House Insurance Gym Membership Subtotal , ,475 Irregular Household Costs Car Running Costs ESB Travel Expenses Subtotal , ,187 Discretionary Entertainment Presents Home Decoration Subtotal Savings TOTAL EXPENDITURE (Including Savings) 1,410 1,125 1,245 3,780 1,629 1,019 1,039 3,687 NET CASH OPENING CASH CLOSING CASH

21 Assignments Chapter 5 Household Accounts and Filing 1. Total 350 Balance Total 450 Balance Total 1,520 Balance Total 1,350 Balance Total 4,210 Balance 2, Total 1,875 Balance Total 2,435 Balance 1, Total (Cash) Total (Bank) 225 1,522 Balance Balance Total (Cash) Total (Bank) 260 1,765 Balance Balance Total (Cash) Total (Bank) 317 1,310 Balance Balance Total (Cash) Total (Bank) 302 1,530 Balance Balance 32 (71) 12. Total (Cash) Total (Bank) 138 1,328 Balance Balance (a) 244; (b) 246; (c) 68; (d) (a) 210; (b) (168); (c) 378; (g) (68) 15. Total 1,495 Balance 294 (a) 195; (b) 59; (c) 101; (d)

22 Chapter 9 Saving and Investing Activity (a) 2,340; (b) 3,120; (c) 520; (d) 3,328; (e) 2,080; (f) 2, (a) 1 year 1,296 2 years #1,392 3 years 1,680 (b) 1 year 1,802 2 years 1,904 3 years 2,210 (c) 1 year 2,288 2 years 2,376 3 years 2, (a) 1, (b) 1, (c) 2, (a) 1 year 1,080 2 years 1, years 1, (b) 1 year 1,484 2 years 1, years 1, (c) 1 year 2,496 2 years 2, years 2, (d) 1 year 1,332 2 years 1, years 1, (e) 1 year 2,464 2 years 2, years 3, (f) 1 year 2,478 2 years 2, years 3, Assignments 10. (b) #4,500 (c) #80 (d) (i) #220 per student = #6,600 (ii) #10,892 20

23 Chapter 10 Borrowing Assignments 11. (a) 100 (b) 1, (a) 200 (b) 2, (a) 100 (b) 1,368 21

24 Chapter 11 Household Purchases Assignments 6. (a) 3,640 (b) 9,152 (c) 3,744 (d) 4,500 (e) 11,280 (f) (a) 1,300 (b) 1,545 (c) 5,114 (d) 4,614 (e) 3,120 (f) 1, Rental: 741 Hire Purchase: 696 Loan: Rental: Hire Purchase: 632 Loan: Rental: 6,150 Hire Purchase: 10,080 Loan: 10, Rental: 3,300 Hire Purchase: 4,040 Loan: 4,024 22

25 Chapter 12 Household and Business Insurance Assignments 14. (a) (b) (a) (b) (c) (a) (b) (a) 2, (b) 3, (a) 20,000; 170,000 (b) 190,000 (c) 10,000; 2,500 (d) 20,000 (e) 15,000; 5,000 (f) 3,000; (a) 700 (b) (c)

26 Assignments 7. (a) 20% (b) 15% (c) 9% (d) 7% (e) 12% (f) 2% Chapter 13 An Introduction to Economics 8. (a) 4% (b) 3% (c) 2.5% (d) 5.5% (e) 2% 9. (a) 2% fall (b) 3.6% (c) 4.2% 24

27 Chapter 14 The National Budget Assignments 11. (a) 1020S (b) 980D (c) 1280S (d) 0 (e) 2150D (f) 1,000D 12. (a) 40S (b) 1378D (c) 5292D 13. (a) 2920D 14. (a) 2892D 15. (a) 1562D 25

28 Chapter 15 Foreign Trade Assignments 10. (a) 150s (b) 757d (c) 889s (d) 1d (e) 88s 11. (a) 307d (b) 1562s (c) 134d (d) 588d (e) 180d 12. (a) 96,900 (b) 540 (c) 1, (d) 3,060 (e) 2, (f) ; 5, ; (a) 55.56; ; (b) (a) 500 (b) (c) 80 (d) 58 (e) 2, (a) 65; 72; ,000 26

29 Assignments Chapter 18 Planning the Business 5. Details Jan. Feb. Mar. Apr. Total Total Receipts 34,500 44,000 39,500 42, ,000 Total Payments 22,000 34,000 31,500 28, ,500 Net Cash 12,500 10,000 8,000 14,000 44,500 Opening Cash 3,500 16,000 26,000 34,000 3,500 Closing Cash 16,000 26,000 34,000 48,000 48,000 Details Jan. Feb. Mar. Apr. Total Total Receipts 67,000 58,500 76,500 71, ,000 Total Payments 62,000 61,000 90,000 46, ,000 Net Cash 5,000 2,500 13,500 25,000 14,000 Opening Cash 5,000 10,000 7,500 6,000 5,000 Closing Cash 10,000 7,500 6,000 19,000 19,000 Details Jan. Feb. Mar. Apr. Total Total Receipts 49,500 51,000 34,000 62, ,400 Total Payments 4,000 56,000 45,000 60, ,500 Net Cash 9,500 5,000 11,000 2,400 4,100 Opening Cash 3,700 13,200 8,200 2,800 3,700 Closing Cash 13,200 8,200 2, Details Jan. Feb. Mar. Apr. Total Receipts Sales 9,500 10,700 12,600 15,700 48,500 Capital 6,000 6,000 Total Receipts 9,500 16,700 12,600 15,700 54,500 Payments Purchases 5,400 9,200 7,000 8,400 30,000 ESB ,100 Telephone Wages 2,000 2,000 2,000 2,000 8,000 Rent ,000 Total Payments 7,900 12,550 9,500 11,650 41,600 NET CASH 1,600 4,150 3,100 4,050 12,900 OPENING CASH 4,700 6,300 10,450 13,550 4,700 CLOSING CASH 6,300 10,450 13,550 17,600 17,600 27

30 7. Details Jan. Feb. Mar. Apr. Total Receipts Sales 12,800 14,100 13,900 18,750 59,550 Debtors 7,200 6,800 6,300 7,000 27,300 Govt Grant 3,000 3,000 Total Receipts 20,000 23,900 20,200 25,750 89,850 Payments Purchases 12,000 14,000 11,300 14,300 51,600 Creditors 3,400 4,600 3,700 5,100 16,800 Rent & Rates 1,600 1,600 1,600 1,600 6,400 Wages 1,500 1,500 1,500 1,500 6,000 Telephone Insurance 1,000 1,000 Total Payments 18,500 22,000 19,100 22,950 82,550 NET CASH 1,500 1,900 1,100 2,800 7,300 OPENING CASH 3,700 5,200 7,100 8,200 3,700 CLOSING CASH 5,200 7,100 8,200 11,000 11, Details Mar. Apr. May. Jun. Total Receipts Sales 28,400 37,000 42,800 57, ,800 Debtors 19,100 20,200 24,600 23,600 87,500 Rent Received 2,000 2,000 2,000 2,000 8,000 Total Receipts 49,500 59,200 69,400 83, ,300 Payments Purchases 17,800 22,600 29,200 36, ,600 Creditors 10,000 18,400 20,700 28,200 77,300 ESB 800 1,000 1,800 Telephone Insurance 5,600 5,600 Advertising 1,300 1,300 1,300 1,300 5,200 Machinery 15,000 15,000 Vehicle 12,000 12,000 Total Payments 30,150 47,900 67,700 77, ,250 NET CASH 19,350 11,300 1,700 5,700 38,050 OPENING CASH 1,500 20,850 32,150 33,850 1,500 CLOSING CASH 20,850 32,150 33,850 39,550 39,550 28

31 9. Details Mar. Apr. May. June. Total Receipts Sales 30,600 35,400 33,100 40, ,300 Debtors 12,100 14,700 15,100 18,200 60,100 Rent Received ,400 Total Receipts 43,300 50,700 48,800 59, ,800 Payments Purchases 16,700 22,400 21,000 19,100 79,200 Creditors 10,300 12,600 14,800 22,600 60,300 Wages 6,000 6,000 6,000 6,000 24,000 Insurance 5,000 5,000 ESB ,300 Advertising 1,700 1,700 1,700 1,700 6,800 Computer 10,000 10,000 Vehicle 12,000 12,000 Total Payments 39,700 53,400 55,500 50, ,600 NET CASH 3,600-2,700-6,700 9,000 3,200 OPENING CASH 2,000 5,600 2,900-3,800 2,000 CLOSING CASH 5,600 2,900-3,800 5,200 5, Details Jan. Feb. Mar. Apr. Total Receipts Sales 15,000 18,400 22,000 19,100 74,500 Debtors 12,400 14,700 8,300 15,600 51,000 Govt. Grant 5,000 5,000 Total Receipts 27,400 33,100 30,300 39, ,500 Payments Purchases 10,400 27,000 14,600 26,200 78,200 Creditors 8,000 14,600 12,700 15,000 50,300 Machinery 12,000 12,000 Wages 2,300 2,300 2,300 2,300 9,200 ESB Telephone Motor Expenses ,490 Advertising ,080 Insurance 1,200 1,200 Total Payments 34,630 44,550 30,300 44, ,360 NET CASH 7,230 11, ,180 23,860 OPENING CASH 2,500 4,730 16,180 16,180 2,500 CLOSING CASH 4,730 16,180 16,180 21,360 21,360 29

32 11. Details Jan. Feb. Mar. Apr. May. June. Total Receipts Sales 44,000 44,000 44,000 44,000 55,000 55, ,000 EU Grant 50,000 50,000 Share Capital 60,000 60,000 Total Receipts 44,000 44,000 44,000 94,000 55, , ,000 Payments Purchases 15,000 15,000 18,000 18,000 18,000 18, ,000 Advertising 1,600 1,600 1,600 1,600 1,600 1,600 9,600 Wages 2,000 2,000 2,000 2,000 2,000 2,000 12,000 Rent 1,500 1,500 1,500 1,500 1,725 1,725 9,450 Insurance 8,500 8,500 Motor Vehicles 2,500 25,000 Equipment 100, ,000 Total Payments 20,100 45,100 23, ,100 23,325 31, ,550 NET CASH 23,900-1,100 20,900-29,100 31,675 83,175 12,945 OPENING CASH 5,000 28,900 27,800 48,700 19,600 51,275 5,000 CLOSING CASH 28,900 27,800 48,700 19,600 51, , , Details Jul. Aug. Sept. Oct. Nov. Dec. Total Receipts Sales 50,000 60,000 60,000 78,000 78,000 78, ,000 Grant 40,000 40,000 Sale of W/house 15,500 15,500 Total Receipts 50,000 60,000 60,000 93,500 11,800 78, ,500 Payments Purchases 35,000 35,000 35,000 43,750 43,750 43, ,250 Telephone ,580 Wages 4,500 4,500 4,500 4,500 4,500 4,850 27,350 Advertising 1,300 1,300 1,300 1,300 1,300 1,300 7,800 Rent 5,000 5,000 5,500 5,500 5,500 5,500 32,000 Loan Repayments 6,500 6,500 6,500 6,500 26,000 Vehicles 60,000 60,000 Total Payments 52,750 52,300 53,350 61, ,630 55, ,980 NET CASH -2,750 7,700 6,650 31,950 2,370 22,600 68,520 OPENING CASH 3, ,950 14,600 46,550 48,920 3,000 CLOSING CASH 250 7,950 14,600 46,550 48,920 71,520 71,520 30

33 Chapter 24 The Employer Assignments 6. (a) (b) (c) (d) 448 (e) 125 (f) 324 (g) 94.4 (h) (a) 228 (b) (c) 192 (d) (e) (f) 180 (g) 182 (h) , , (a) 1, (b) 2, (a) Employee: Cathal Byrnes Week 11 March 28 PAY: DEDUCTIONS Basic PAYE Overtime PRSI Pension 8.00 Health 7.00 Union 2.00 Net Pay Gross Pay Total Deductions

34 (b) Employee: Rachel Canning Week 11 March 28 PAY: DEDUCTIONS Basic PAYE Overtime PRSI Pension Net Pay Savings 3.00 Union 3.00 Gross Pay Total Deductions (c) Employee: Kevin Clarke Week 11 March 28 PAY: DEDUCTIONS Basic PAYE Bonus PRSI Pension 6.00 Health 4.00 Union 2.00 Net Pay Gross Pay Total Deductions (d) Employee: Jennifer Dowdall Week 11 March 28 PAY: DEDUCTIONS Commission PAYE Overtime PRSI Pension Health 8.00 Savings 5.00 Net Pay Gross Pay Total Deductions (e) Employee: Peter Farrell Week 11 March 28 PAY: DEDUCTIONS Basic 1, PAYE Overtime PRSI Pension Health Union Net Pay Gross Pay 2, Total Deductions ,

35 (f) Employee: Lorraine Rice Week 11 March 28 PAY: DEDUCTIONS Basic PAYE Overtime PRSI Pension 8.00 Health Net Pay Gross Pay Total Deductions Employee: Elaine Fitzgerald PAY: DEDUCTIONS Basic PAYE Overtime PRSI Union 7.00 Net Pay Gross Pay Total Deductions Employee: Ken Moloney PAY: DEDUCTIONS Basic PAYE Overtime PRSI Health Union 3.00 Net Pay Gross Pay Total Deductions Employee: Ronan Quinn PAY: DEDUCTIONS Basic PAYE Overtime PRSI Shift Pension Medical Saving Net Pay Gross Pay 1, Total Deductions Employee: Lisa Shannon PAY: DEDUCTIONS Basic PAYE Overtime PRSI Bonus Union 3.00 Pension Net Pay Gross Pay Total Deductions

36 22. Employee: Niall O Connor PAY: DEDUCTIONS Basic 3, PAYE 1, Bonus PRSI Pension Medical Net Pay Gross Pay 3, Total Deductions 1, , Employee: Bryan Lane PAY: DEDUCTIONS Basic PAYE Overtime PRSI Commission Union 2.00 Medical Pension Net Pay Gross Pay Total Deductions Employee: Imelda Lyons PAY: DEDUCTIONS Basic PAYE Overtime PRSI Union 4.00 Medical 8.00 Pension Net Pay Gross Pay 1, Total Deductions (b) Date Employee Name Gross Wage Wages Book Deductions PAYE PRSI Pension Total Net Wages Employer PRSI Apr. 30 S. Byrne 1, Apr. 30 P. McDonald 1, Apr. 30 J. Kelly 1, , Total 4, ,594 2, (c) Total Wages = 5,085 27(a) Date Employee Name Gross Wage Wages Book Deductions PAYE PRSI Union Total Net Wages Employer PRSI May. 31 L. Dervan 1, , May. 31 K. Murray 1, May. 31 M. Twomey 1, , Total 4, ,107 3, (b) Total Wages = 4,704 34

37 28. Employee Name Cash Analysis Statement Total Wage A. Adlum B. Barker C. Coyne D. Davis E. Edwards F. Feeley G. Graham H. Harris Total 2,

38 Chapter 27 Delivery Systems Assignments 12. (a) 330 (b) 252 (c) 260 (d) 216 (e) 188 (f) 336 (g) 164 (h) 346 (i) 126 (j) 105 (k) 185 (l) 238 (m) 332 (n) 208 (o) (a) 4 hrs 1.00pm (b) 1 hr 45 mins 1.00pm (c) 4 hrs 6.20pm (d) 3 hrs 4.17pm (e) 4 hrs 8.24pm (f) 2 hrs 30 mins 5.15pm (g) 5 hrs 30 mins 6.45pm (h) 3 hrs 6.10pm (i) 3 hrs 7.25pm (j) 1 hr 36 mins 7.46pm 14. (a) (b) (c) (d) (a) 1, (b) (c) 2,383.00; (a) 35,560; (b) 96,560; (a) (b) (c) (d)

39 Chapter 31 Purchases and Purchases Returns (HL) Assignments 1. Purchases Book Cost VAT Total 20,600 2,060 22,660 22, Purchases Book 35,500 3,550 39,050 39, Purchases Book 76,000 7,600 83,600 83, Purchases Book 231,400 23, , , Purchases Book Purchases Returns Book 103,500 3,700 10, ,850 4, , Purchases Book Purchases Returns Book 142,600 4,100 14, ,860 4, , Purchases Book Purchases Returns Book 171,200 2,200 17, ,320 2, , Purchases Book Purchases Returns Book 155,200 9,100 15, ,720 10, ,810 37

40 Chapter 32 Sales and Sales Returns (HL) Assignments 1. Sales Book Cost VAT Total 60,600 6,060 66,660 66, Sales Book 75,500 7,550 83,050 83, Sales Book 126,900 12, , , Sales Book Sales Returns Book 712,800 24,300 71,280 2, ,080 26, , Sales Book Sales Returns Book 195,400 8,300 19, ,940 9, , Sales Book Sales Returns Book 932,700 15,400 93,270 1,540 1,025,970 16,940 1,024, Sales Book Sales Returns Book Purchases Book Purchases Returns Book 100,000 3,200 59,000 2,000 10, , ,000 3,520 64,900 2, , Sales Book Sales Returns Book Purchases Book Purchases Returns Book 81,500 2, ,000 4,100 8, , ,650 2, ,900 4, , Sales Book Sales Returns Book Purchases Book Purchases Returns Book 289,800 4, ,000 2,400 28, , ,780 4, ,000 2, , Sales Book Sales Returns Book Purchases Book Purchases Returns Book 165,000 2, ,800 3,500 16, , ,500 2, ,780 3, , Sales Book Sales Returns Book Purchases Book Purchases Returns Book 155, , , , , , , Sales Book Sales Returns Book Purchases Book Purchases Returns Book 229,500 7, ,000 5,600 22, , ,450 8, ,500 6, ,700 38

41 Chapter 33 The Cash Book Assignments 1. 26, , , , , , ,560 OD 8. 61, ,770 39

42 Assignments Chapter 34 The General Journal (HL) , , Total 291,300; OSC 261, Total 369,200; OSC 339,500 40

43 Assignments Chapter 35 Record-Keeping Revised (HL) 1. Sales Book Sales Returns Book Cash Book Cost VAT Total 28, ,700 3, , , , Purchases Book Purchases Returns Book Cash Book 29, ,130 6, , , , Purchases Book Purchases Returns Book Cash Book 10, ,200 1, , , , Purchases Book Purchases Returns Book Cash Book 35,000 1,800 47,398 7, ,350 2,178 97, , Cash Book 10, , , Cash Book 112, , , Purchases Book Sales Book Cash Book 35,000 53,000 28,020 7,000 10,600 42,000 63,600 73, , Cash Book 46,410 74, , Purchases Book Sales Book Cash Book 46,700 44,200 95,130 4,670 4,420 51,370 48, , ,800 41

44 Chapter 36 Bank Accounts Assignments , , , , ,

45 Chapter 37 Control Accounts (HL) Assignments 2. 54, , , , , , , ,600 43

46 Chapter 38 Petty Cash Book Assignments

47 Chapter 39 The Trading Account Assignments 4. (a) 30,100 (b) 52,400 (c) 136,544 (d) 43,300 (e) 83,300 (f) 110, , , , , , , , , (3,300) , , , , ,593 45

48 Assignments Chapter 40 The Profit and Loss Account 2. 10, , , (1,290) 6. 4, (2,180) 8. 24, (15,810) ,305 Gross Profit Net Profit ,600 12, ,560 59, ,840 21, ,815 11, ,750 1, ,350 11,990 46

49 Chapter 41 The Profit and Loss Appropriation Account Assignments 4. (a) 18, (b) 17, (c) 19, (d) 16, (e) 14, ,000 (f) 35, ,800 (g) 36, ,000 (h) 35, , (a) 13,600 (b) 19,700 (c) 58,800 (d) 34,350 (e) 68,430 (f) 138, (a) 30,000 (b) 8,120 (c) 35,250 (d) 21,958 (e) 10,050 (f) 54,900 47

50 Chapter 42 The Balance Sheet Assignments , , , , , , , ,000 Gross Profit Retained Profit Balance Sheet ,380 2, , ,000 4, , ,400 10, , ,200 30, , ,150 (35,600) 188, ,500 26, , ,100 8, , ,150 20, , ,800 39, ,810 48

51 Chapter 43 Adjustments to the Final Accounts (HL) Assignments Gross Profit Retained Profit Balance Sheet 1. 19,352 1, , , , , ,950 16, , ,950 (4,150) 165, ,410 18, , , , , ,600 74, , , , ,260 49

52 Chapter 44 Ledger Accounts for Adjustments (HL) Assignments P & L Balance Sheet 1. 4, , , , ,000 1, ,

53 Chapter 45 Assessing the Business Assignments 2. (a) 30% 32% 25% 41% 37% 3. (a) 17% 19.5% 20% 16% 15% 4. (a) 12% 13% 14.5% 17.5% 18% 5. (a) 20% 19.5% 16% 18% 22% 6. (a) 2 : 1 3 : : : : 1 1 : 1 1 : : 1 3 : : 1 7. Year 1 Year 2 Year 3 Year 4 Year 5 Credit Period Received Credit Period Given Stock Turnover Year 1 Year 2 Year 3 Year 4 Year 5 Dividend per Share 1.5c 5.11c 12.5c 12.5c 16.25c Earnings per Share % Dividend (a) 25, 20 (b) 20, (c) 20, (d) 14, (e) 25, 20 (f) 25, (a) 50 (b) (c) (d) 3.6 (e) (a) 350,000 (b) 10,000 (c) 340,000 (d) 190,000 (e) 1.89 : 1 (f) 12.9% 51

54 Chapter 46 Club Accounts Assignments Balance Total 3. 5,491 10, ,856 4, ,055 19, ,374 4,574 (b) 300 ; (c) (29) 7. 15,740 34, , , ,050 Surplus 195,750 (b) 2, , , ,790, ,411, , , ,920, , , , , , (a) 19,400 (b) 27,150 (c) 48,100 (d) 18,200 (e) 37, , (885) ,450; 161, (a) 6,900 (b) 106,900 (c) 13,500; 9,000; 115, (a) 141,060 (b) 318,100 (c) 30,960; 147,610; 465, ,488 8, ,640 27, , (i) 2,055 5,690 (ii) 3,489 52

55 Chapter 47 Farm and Service Firm Accounts Assignments Balance Total 1. 4,744 9, ,691 6, , , , (3,540) 240, ,360 4, ,640 8, , , ,100 33, , ,610 53