[Lou3000]

I have a homework assignment in 3 parts, the second part was to prepare an income & expenditure account clearly showing the profit/loss on the bar and annual dance of a social club . To this end, I created separate trading accounts for the Bar and Annual dance. To do this I extracted the figures from the summary of receipts & payments given for the club for the year ended October 31 2008

PAYMENTS EXPENSES
Balance 1/11/93 380 Bar Purchases 1,485
Subscriptions 1,420 Annual dance exp. 470
Annual dance 750 Rent 890
Bar sales 2,050
= 4,600


EXPENSES
Bar Purchases 1,485
Annual dance exp. 470
Rent 890
Secretarial exp. 260
Purchase of furniture 350
Caretaker wages 720
Balance 31 Oct 08 425
= 4,060


Extra info given is: the opening bar stock was 120 (at 1/11/07) and the closing stock at 31/10./08 was 160


So I added the opening stock of 120 and purchases of 1,485 which = 1,605 then deducted closing stock of 160 which = 1445 which I deducted from the sales of 2,050 which left a profit of 605.

The Annual Dance profit was straight forward because I just had to deduct the expenses from the sales of the tickets.

The final part of my homework was to prepare the balance sheet and it's not coming right, so I wonder if I have wrongly worked out the profit for the bar?

Please, can anybody help? I've attached an Excel sheet with all my workings and a clearer brain than mine might be able to see where I've gone wrong!

[ROLCAM]

Fr_Chuck,

You removed the wrong duplicated item.
The attachment has been lost.
Please make sure as to what you are doing.
You need to apologise to Lou3000.

[Lou3000]

It might have been me who messed it up - I realised I wanted to change a figure in the excel sheet so tried to delete the first excel sheet - obviously something went awry!

So here's the attachment again, hopefully right this time!