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351x Filetype XLS File size 0.14 MB Source: www.publications.qld.gov.au
Sheet 1: Livestock Reconciliation
| LIVESTOCK TRADING ACCOUNT FOR THE YEAR ENDED 30 JUNE | 2011 | |||||
| Livestock Trading | Number | $ | ||||
| Sheep (Wethers) | ||||||
| Opening Stock | 2,179 | $18,442 | ||||
| Purchases | 595 | $16,065 | F | |||
| Total | 2,774 | $34,507 | ||||
| Sales | 656 | $18,938 | C | |||
| Deaths | 58 | $0 | ||||
| Rations | 20 | $400 | ||||
| Closing Stock | 2,040 | $25,082 | ||||
| Total | 2,774 | $44,420 | ||||
| Trading Profit/Loss | $9,913.00 | |||||
| Cattle | ||||||
| Opening Stock | 1,032 | $137,920 | ||||
| Purchases | 23 | $12,770 | F | |||
| Increase | 455 | |||||
| Total | 1,510 | $150,690 | ||||
| Sales | 639 | $351,450 | C | |||
| Deaths | 6 | |||||
| Rations | 6 | $1,800 | ||||
| Closing Stock | 859 | $84,700 | ||||
| Total | 1,510 | $437,950 | ||||
| Trading Profit/Loss | $287,260.00 | |||||
| Total Livestock Profit | $297,173 | B | ||||
| PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE | 2011 | ||||||
| Income | $ | ||||||
| Profit Livestock Trading | $297,173 | B | |||||
| Insurance Recoveries | $500 | N | |||||
| Interest Received - Other | $2,300 | O | |||||
| Landcare Subsidy | $130 | M | |||||
| Rebates Received | $1,580 | M | |||||
| Diesel Fuel Rebate | $8,000 | M | |||||
| Sales - Oats | $7,500 | ||||||
| Sales - Wheat | $32,980 | ||||||
| Sales - Wool | $32,000 | ||||||
| Sale of assets - Offset disc | $2,500 | N | |||||
| Contract Hay Baling | $4,500 | O | |||||
| Sundry Income | $650 | O | |||||
| Total Income | $389,813 | A | |||||
| Expenses | $ | ||||||
| Accountancy | $2,500 | ||||||
| Agistment | $9,650 | ||||||
| Animal Health | $9,500 | ||||||
| Bags, Packs, Twine | $4,500 | ||||||
| Bank Charges | $1,700 | Q | |||||
| Bank Debit & FI Duty | $950 | ||||||
| Contract Work | $31,498 | ||||||
| Crop Preparation | $1,500 | ||||||
| Erosion Control | $8,500 | ||||||
| Land Clearing | $4,578 | ||||||
| Harvesting | $9,450 | ||||||
| Dam Cleaning | $5,400 | ||||||
| Other | $230 | ||||||
| Fencing | $1,840 | ||||||
| Depreciation | $17,500 | J | |||||
| Dogs & Maintenance | $350 | ||||||
| Donations | $100 | ||||||
| Electricity & Gas | $2,400 | ||||||
| Entry Fees | $1,200 | ||||||
| Fertilisers & Spreading | $35,600 | ||||||
| Farm Trees | $540 | ||||||
| Fodder | $8,670 | ||||||
| Freight & Cartage | $12,560 | ||||||
| Fuel & Oil | $16,000 | ||||||
| General Expenses | $400 | ||||||
| Hire of Plan | $363 | ||||||
| Hire Purchase Charges | $600 | Q | |||||
| Insurance | $5,010 | ||||||
| General | $2,600 | ||||||
| Public Risk | $850 | ||||||
| Workers Compensation | $460 | ||||||
| Motor Vehicles | $1,100 | ||||||
| Interest - Bank | $6,300 | Q | |||||
| Interest - Loans & Mortgages | $28,500 | Q | |||||
| Interest - Hire Purchase | $1,500 | Q | |||||
| Licences, Registrations, Permits | $3,050 | ||||||
| Vehicle | $850 | ||||||
| Other | $2,200 | ||||||
| Machinery Leases | $0 | Q | |||||
| Motor Vehicle Expenses | $2,863 | ||||||
| Fuel and Oil | $1,867 | ||||||
| Insurance | $630 | ||||||
| Repairs and Maintenance | $980 | ||||||
| Registration | $340 | ||||||
| Less Personal Use | $954 | ||||||
| Newspapers & Magazines | $150 | ||||||
| Pest Control | $6,700 | ||||||
| Postage | $250 | ||||||
| Printing & Stationery | $100 | ||||||
| Property Lease Payments | $0 | Q | |||||
| Protective Clothing | $85 | ||||||
| Rates | $5,380 | ||||||
| Shire Rates | $3,500 | ||||||
| Rural Lands Board | $1,200 | ||||||
| Water Rates | $680 | ||||||
| Rent | $7,890 | ||||||
| Repairs & Maintenance | $36,550 | ||||||
| Plant | $7,800 | ||||||
| Buildings | $2,390 | ||||||
| Water Supply | $2,460 | ||||||
| Fencing & Stock Yards | $16,000 | ||||||
| Tractors, Headers | $2,500 | ||||||
| Trucks, Motor Cycles | $5,400 | ||||||
| Registration of Cattle | $0 | ||||||
| Seed | $3,100 | ||||||
| Shearing & Crutching | $2,400 | ||||||
| Subscriptions | $580 | ||||||
| Superannuation | $6,000 | ||||||
| Telephone & Fax | $2,800 | ||||||
| Tools | $350 | ||||||
| Travelling Expenses | $1,200 | ||||||
| Wages | $937 | ||||||
| Total Expenses | $278,276 | E | |||||
| Net Profit/(Loss) | $111,537 |
| BALANCE SHEET AS AT 30 JUNE | 2011 | |||
| Current Year | Previous Year | |||
| Proprietors Funds | $ | $ | ||
| Joe Farmer | -$5,231 | -$100,000 | ||
| Mary Farmer | $9,768 | -$75,000 | ||
| Total Proprietors Funds | $4,537 | -$175,000 | ||
| Represented By: | ||||
| Property Plant and Equipment | ||||
| Land and Buildings at original value | $750,000 | $750,000 | ||
| Plant & Equipment - at Cost | $85,000 | $85,000 | ||
| Less Prov'n for Depreciation | $12,000 | $73,000 | $10,000 | $75,000 |
| Motor Vehicles - at Cost | $35,000 | $35,000 | ||
| Less Prov'n for Depreciation | $5,500 | $29,500 | $5,500 | $29,500 |
| Total Property Plant & Equipment | $852,500 | $854,500 | ||
| Current Assets | ||||
| Term Deposit | $57,000 | $57,000 | ||
| Inventories | $109,783 | $154,168 | ||
| Sheep on Hand at Average Cost | $25,083 | $18,047 | ||
| Cattle on Hand at Average Cost | $84,700 | $136,121 | ||
| Total Current Assets | $166,783 | $211,168 | ||
| Total Assets | $1,019,283 | $1,065,668 | ||
| Current Liabilities | ||||
| Creditors & Borrowings | ||||
| Bank Overdraft | $50,000 | $57,000 | ||
| Outstanding Creditors | $0 | $0 | ||
| Livestock Account | $20,000 | $25,000 | ||
| Total Current Liabilities | $70,000 | $82,000 | ||
| Non-Current Liabilities | ||||
| Creditors & Borrowings | ||||
| Hire Purchase | $15,000 | I | $18,000 | |
| Term loan | $300,000 | I | $320,000 | |
| Total Non-Current Liabilities | $315,000 | $338,000 | ||
| Total Liabilities | $385,000 | X | $420,000 | |
| Net Surplus | $634,283 | $645,668 | ||
| CAPITAL ACCOUNTS FOR THE YEAR ENDED 30 JUNE | 2011 | |||
| Current Year | Previous Year | |||
| Capital and Current Accounts | $ | $ | ||
| Joe Farmer | ||||
| Opening Balance | -$100,000 | -$125,000 | ||
| Capital Contributed | $10,000 | $0 | ||
| Dividends Received | $0 | $0 | ||
| Share of Profit | $55,768 | $7,500 | ||
| Total | -$34,232 | -$117,500 | ||
| Drawings | $18,000 | G | $17,500 | |
| Income Tax Paid | $11,000 | H | $0 | |
| Capital Withdrawn | -$5,232 | -$100,000 | ||
| Mary Farmer | ||||
| Opening Balance | -$75,000 | -$100,000 | ||
| Capital Contributed | $0 | $0 | ||
| Dividends Received | $0 | $0 | ||
| Share of Profit | $55,768 | $7,500 | ||
| Total | -$19,232 | -$92,500 | ||
| Drawings | $18,000 | G | $17,500 | |
| Income Tax Paid | $11,000 | H | $0 | |
| Capital Withdrawn | $9,768 | -$75,000 | ||
| Grand Total | $4,536 | -$175,000 |
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