insurance company profits for 2008
Accounting: easy for you, impossible for me. I'm lost. Please help me.?
The following trial balance has been extracted from the books XYZ Company as of December 31, 2008. I have to make a PROFIT AND LOSS ACCOUNT and balance for the year ended December 31 Unfortunately I can not format this properly, so I am posting …. (Cr) if the amount is supposed to be in the column of Cr Dr Cr € 000 € 000 SG 1800 of the Bank Interest paid 450 Trade receivables (debtors) 3.000 …… Trade accounts payable (creditors) 1,200 (Cr) Land and Buildings of 8,400 motor vehicles 450 Facilities and machinery …… 3450 Income 24,000 (CR) 12,000 Purchases …… Share Capital 3,000 (CR) …… Share premium 1,500 (CR) wages and salaries and rent prices 1500 525 ESB 450 Phone 600 Insurance 525 sales returns 150 of the Bank & Cash 2700 …… long-term loan 1800 (CR) …… Retained Earnings 4500 (CR) Total 36,000 …… 36,000 (CR) I hope to work with it. And I can not say how relieved they would be if you could help me. Thank you!
The income statement shows the as income or expense items (but I understand what you mean) and the balance sheet – assets and liabilities. SG 1800 cost of P & L. bank interest paid 450 P & L of expenses. 3000 From the trade receivables balance sheet – assets. Trade Payables 1200 balance sheet – liabilities. Land and buildings 8400 balance sheet – fixed assets. Vehicles motor 450 of the balance sheet – fixed assets. Plant and Machinery3450 balance sheet – fixed assets. Income 24,000 P & L – revenue. Purchases 12,000 P & L – Costs. Capital 3000 of the balance sheet – Liabilities. Premium account 1500 balance sheet – Liabilities. Wages and salaries 1500 P & L-cost. Rental Rates and 450 P & L – the cost. Phone 600 P & L – the cost. ESB (What is this)? covered expenses – P & L – exp. Insurance 525 of P & L – the cost. Sales returns 150 – deducted from the income of P & L of a Bank / c. 2700 and cash balance sheet – assets. 1800 Long term loan balance LIAB. (not in force). retained earnings balance 1800 – LIAB. idem). I'm not sure exactly what he wants, but I've listed where each element must show – P & LA / C (revenue or expense) or balance sheet (assets and liabilities). Hope this helps. If you need more help. post additional details. I can help with the presentation of P & L and Balance. PS. I thought you were presented with the trial balance, and is helping with the P & L and the balance you require.
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