1 On 1 January 2009 Clara Coyle, a sole trader, had the following balances:
|
$
|
Inventory (stock)
|
24 170
|
Premises
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60 000
|
Fittings and fixtures (net book value)
|
28 000
|
Cash and cash equivalents (bank)
|
4 000
|
Rates prepaid
|
440
|
Trade receivables (debtors)
|
3 810
|
Trade payables (creditors)
|
3 420
|
Capital
|
117 000
|
There was no opening cash or cash equivalent.
Full accounting records were not kept, but the following information was available for the year ended 31 December 2009.
Bank Account Receipts $
Loan from uncle (interest free) 10 000
Receipts from trade receivables (debtors) 163 100
Cash sales paid into bank 34 000
Bank Account Payments
Payments to trade payables (creditors) 141 508
Ordinary goods purchased (purchases) by cheque 6 300
Rates 2 600
Drawings 3 650
General expenses 4 410
Wages 21 300
Cash payments from cash sales
General expenses 2 680
Purchases 1 200
Balances as at 31 December 2009
Trade receivables (debtors)
|
4 100
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Trade payables (creditors)
|
11 850
|
Rates prepaid
|
240
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General expenses owing
|
400
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Wages owing
|
1 620
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Cash and cash equivalents (cash)
|
515
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Bank
|
?
|
Additional Information:
1 The selling price on all goods is based on cost plus 25%.
2 During the year Clara Coyle withdrew goods, costing $140, from the business, for her own use.
3 The business allowed discounts, $1 300, to its trade receivables (debtors).
4 The business received discounts, $1 600, from its trade payables (creditors).
5 No additions or disposals of non-current (fixed) assets took place during the year.
Depreciation of $3 000 is to be provided on fixtures and fittings.
Premises are not depreciated.
REQUIRED
Calculate the total sales for the year ended 31 December 2009