Calculate jimmy's bank balance at 31 oct 1996
At 31 oct 1995 Jimmy changs assets and liabilities were
Office furniture (nbv) 5000
Delievery vvan (nbv) 2000
Cash in bank 5000
Stock 9000
Debtors 9500
Creditors 8400
During the following years trading his transactions were as follows
Cheques paid to supplier 28900
Expenses 9200
Personal cash drawings 10100
Goods returned to suppliers 800
Disc received from supplier 900
Cheques received from credit customer 41200
Goods returned by credit customers 1100
Disc allowed to credit customers 1300
Bad debts w/o 1600
Rent paid 2400
At the beginning of nov 1995 he traded in his van for a newer model. He received hi NBV as at 31 oct 1995 on the trade in. the new van has been depreciated at 40% reducing bal method
All recipts and payments pass through jimmys bank account
At the end of his firsst years trading Jimmy's assets and liabilities were
Offie furniture (NBV) 4000
Delivery van (NBV) 6000
Stock 12000
Debtors 15300
Creditors 10600
Expenses paid in advance 200
a) calculate jimmys bank balance at 31 oct 1996
b) draw up his trading profit and loss acct for the year ended 31 oct 1996 and balance sheet at thaat date
c) calculate his percentage return on opening capital
d) state three possible ways to improve his return on capital
