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Zorluk: OrtaBar Trading and Special Activities Account

Coastal Officers' Club operates a bar to support its social activities. For the financial year ended 31 December 2025, the following details were extracted from the club's records:

DetailsAmount (₦)
Bar inventory (1 January 2025)18,500
Bar inventory (31 December 2025)22,400
Receipts from bar sales165,000
Payments to bar suppliers94,000
Bar suppliers owing (1 January 2025)11,200
Bar suppliers owing (31 December 2025)14,800
Bar steward wages paid16,000
Accrued bar steward wages (31 December 2025)2,500

What is the net profit from the bar trading operations to be transferred to the Income and Expenditure Account for the year ended 31 December 2025?

Cevap: 52800 ₦

Cevap

The net profit from the bar trading operations to be transferred to the Income and Expenditure Account is ₦52,800.
To find the bar net profit transferred to the Income and Expenditure Account, total purchases are calculated by adjusting cash paid to bar suppliers for creditors: ₦94,000+₦14,800−₦11,200=₦97,600₦94,000 + ₦14,800 - ₦11,200 = ₦97,600. Cost of Goods Sold is calculated as ₦18,500+₦97,600−₦22,400=₦93,700₦18,500 + ₦97,600 - ₦22,400 = ₦93,700. Bar Gross Profit is ₦165,000−₦93,700=₦71,300₦165,000 - ₦93,700 = ₦71,300. Adjusting bar steward wages for accruals gives ₦16,000+₦2,500=₦18,500₦16,000 + ₦2,500 = ₦18,500. Deducting direct bar expenses from gross profit yields a Bar Net Profit of ₦52,800₦52,800.

Adım Adım Çözüm

1
Calculate credit purchases for the bar
Total Purchases = ₦97,600
Credit purchases are derived by adjusting cash payments to bar suppliers for opening and closing payables: Payments(₦94,000)+Closing Creditors(₦14,800)−Opening Creditors(₦11,200)=₦97,600\text{Payments} (₦94,000) + \text{Closing Creditors} (₦14,800) - \text{Opening Creditors} (₦11,200) = ₦97,600.
2
Determine the Cost of Bar Goods Sold
Cost of Goods Sold = ₦93,700
Cost of Goods Sold is calculated using the formula: Opening Bar Inventory(₦18,500)+Purchases(₦97,600)−Closing Bar Inventory(₦22,400)=₦93,700\text{Opening Bar Inventory} (₦18,500) + \text{Purchases} (₦97,600) - \text{Closing Bar Inventory} (₦22,400) = ₦93,700.
3
Calculate the Bar Gross Profit
Bar Gross Profit = ₦71,300
Gross profit is determined by deducting Cost of Bar Goods Sold from Bar Sales: ₦165,000−₦93,700=₦71,300₦165,000 - ₦93,700 = ₦71,300.
4
Calculate total direct bar expenses
Total Bar Steward Wages = ₦18,500
Total wages attributable to the bar trading period include paid wages plus accrued wages: ₦16,000+₦2,500=₦18,500₦16,000 + ₦2,500 = ₦18,500.
5
Calculate Bar Net Profit
Bar Net Profit = ₦52,800
Bar Net Profit transferred to the Income and Expenditure Account is Bar Gross Profit minus total direct bar expenses: ₦71,300−₦18,500=₦52,800₦71,300 - ₦18,500 = ₦52,800.

Anahtar Kavram

Bar Trading Account Net Profit Determination in Non-Profit Organizations
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Konular

Bar Trading and Special Activities Account

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