ACBP 5111-Ujio Ltd. Trading Company Case Study - Accounting & Finance Assignment Help

Assignment Task

Task

Question 1 
Ujio Ltd is a trading company, in the plant and machinery industry. Ujio is a registered Vat vendor and has been enjoying excellent profit in the previous years. Ujio has a 31 March year end and uses the perpetual inventory system, and their bank grants them unlimited bank overdraft facilities.
All cost prices are marked up at 50% on cost price and assume all settlement discounts issued,will be fully applicable for the customers. Assume all amounts are VAT exclusive, unless otherwise stated.

The following is a trial balance for Ujio, as of 29 February:

Ujio had the following transactions entered, during March 2022

Required
1. Prepare all the relevant journals (Cash, credit and special journals) for Ujio, for the year ended 31 March 2022. Total the journals at the end.
2. Prepare all the general ledger accounts (T accounts) for Ujio Ltd, balancing all the accounts at year end. 
3. Prepare the financial statements for Ujio Ltd.
N.B. use the ledger to complete the trial balance then use the trial balance to complete the financial statements.

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