Hope ya'll MAKE USE OF THE INFORMATION

1. NAME OF CANDIDATE: Martin Robinson
CANDIDATE No: 100136
CENTER No: 100136
TEACHERS’ NAME: Mrs. Newman
TERRITORY: Eltham High School
Year of Examination: 2016

3. ACKNOWLEDGEMENT
First of all, I would like to thank god for being with me through it all. Secondly I would like
to thank my parent for providing me with the material I needed to complete my SBA and
for also encouraging me to put in the hard work. Thirdly I would like to thank my teacher
Mrs. Newman for her guidance throughout this SBA. Also, I would like to thank my friends
for their help sitting with me daily to ensure that my SBA is completed correctly.

4. INTRODUCTION - CARTERS’ CREAM
This SBA was done so that the researcher can accumulate skills in which he can apply in the
working-field. In addition this SBA was also done to store the researcher’s interest in
helping to find the right career path, for e.g. If the researcher wants to work for himself as a
sole proprietor owning his own business.

5. TABLE OF CONTENT
AIMS…………………..…………………………………………………………………………………………….1
DESCRIPTION…………………………………………….……………………………………………………..2
TRANSACTION………………………………………………..…………………………………………………5
SOURCE DOCUMENT………………………………………………….………………………………….….8
BOOKS OF ORIGINAL ENTRIES………………………………….…………………………………….16
TRADING PROFIT AND LOSS…………………………………………….…………………………….25
BALANCE SHEET………………………………………………………………………………….……….…26
PERFORMANCE OFBUSINESS……………………………………………………………….…………27
INTERPRETATIONOFRESULTS………………………………………………………………...…….28
FURTHERINTERPRETATIONOFRESULTS………………………………………………………32
SUGGESTIONS/RECOMMENDATION………………………………………….……………………..34
CONCLUSION…………………………………………………………………………….…………….……….35

6. 1
AIM OF PROJECT
o The first aim of this project is to elevate my knowledge on how to manage the books
of original entries well.
o The second aim is to help me to easily understand the correct procedure of creating
source documents correctly.
 The first aim of the business is to expand in terms of selling more ice-cream
to increase customer growth.
 Another aim of the business is to improve on how to manage the
performance of the business.
Slogan
“di flavaz nice and di price just right”

7. 2
DESPCRIPTIONOF THE BUSINESS
The name of the business is Carter’s Cream. The area in which this business is located is
Hope Road, Kingston Jamaica. The business chose this location it is a well-known area for
selling ice-cream hence the large amount of people that goes there daily to purchase ice-
cream. The type of business entity is sole proprietorship. The business is trading in food
(ice-cream). This business began on the 23th of November 2014. The owner was inspired by
friends who are sole-proprietor about his business skills and his love for ice-cream. The
owner was also inspired by his leadership quality which helped him to know that he can be
the head of a business so he decided to create his own business. A capital of 400,000.00
was invested. There has been no problem encountered in the operation. The number of
employees are six(6):- owner(1), manager(1),cashier(1),servers(2)ice-cream makers(2).
The accounting procedures which are utilized are: Balance sheet, Journals and ledger.
MISSION STATEMENT
The mission of this business is to always ensure that the customers are always satisfied
with the products and to be creative with our ice-creams in different flavor.

8. 3
ORGANISATIONAL CHART
Owner
Cashier
Ice-cream
makers
Servers
Manager

9. 4
TRANSACTIONS
THE FOLLOWING TRANSACTIONS TOOK PLACE DURING THE
MONTH OF FEBRUARY 2016.
Feb 1 Bought goods on credit form E. Prince, list price $90,000 subject to 10% trade
discount.
Feb 1 Sold the following on credit:
A. Warren $98,000
B. Braithewaite $175,000
C. Mann $165,000
Feb 2 Paid electrical bills by cheque $5, 400
Paid gas bill by cheque $6,800
Feb 3 Withdrew $20,000 from the bank for business use
Feb 4 Bought goods on credit from D. Campbell $45,000
Bought machinery on credit from Jamaican Cream Company $75,000
Feb 5 Sold to the following on credit:
A. Warren $82,000
B. Braithewaite $20,000
Receive the amount owing from C. Mann in cash, they were given a 10% Cash
Discount
Feb 5 Paid wages in cash $3,800
Feb 6 B paid us amount owed by cheque: they were allowed a 5% cash discount
Paid D. Campbell the amount owed to them Feb 1, by cheque we were given a 10%
cash discount.
Paid for repairs to deep freeze by cash $4,800
Feb 7 Paid cleaning expense in cash $2,500

10. 5
Feb 9 Paid cash into bank $8,300
Feb 10 received a cheque from A. Warren $30,000
Feb 12 Bought goods on credit from E. Prince list price $90,000, we were given a 10% trade
discount
Feb 13 Paid wages in cash $3,800
Feb 14 Sold gods on credit to B. Braithwaite $84,000
Feb 15 B returned goods to us valued at $5,400
Feb 18 Paid cleaning expenses in cash $1,000
Feb 19 Paid cleaning expenses in cash $1,000
Sold good on credit to A. Mann $42,000
Bought goods on credit from D. Campbell $20,000
Feb 20 A. Warren returned goods to us valued at $6,200
Paid wages in cash $3,800
Feb 24 Bought goods on credit from Jamaica Cream Company. $10,000
Paid carriage on goods purchased $1,500 in cash
Feb 27 Paid wages in cash $3,800
Feb 28 Sold goods on credit:
C. Mann $22,500
B. Braithwaite $30,000
Feb 28 Received the amount owed from C. Mann by cheque, after allowing them 5% cash
discount
Feb 28 Paid repairs to deep freeze $4,000
Paid salary by cheque $22,000

11. 6
STOCK VALUATION
Opening Balance @ $80
Purchases Sales
Feb 1 1500@ $60 Feb 2 400@
Feb 4 1000@ $70 Feb 5 900@
Feb 12 500@ $80 Feb 14 1600@
Feb 24 300@ $80 Feb 19 442@
YEAR PROFITS
2012 120 000
2013 200 000
2014 250 000
2015 300 000
2016 350 000
ACCOUNTS BALANCES
Land and
Buildings
800 000
Machinery 200 000
Deep Freezers* 25 000
Equipment 50 000
Motor Vehicle 400 000
Stock 80 000
Debtors:
A. Warren 80 000
B. Braithwaite 75 000
Creditors:
D. Campbell 67 000
E. Prince 56 450
Bank Loan 100 000
Bank 560 000
Cash 160 000

12. 7

13. 8
SOURCE DOCUMENTS
BANKING DOCUMENTS
Withdrawal Slip
NameD. Robinson WITHDRAWAL AMOUNT
Account# 816921 $ 20 000_______________
DateFeb 3, 2015
_______________________
SIGN HERE TO WITHDRAWMONEY

14. 9
CASH RECEIPT
Cash Reciept No. 111876 Date:Date: Feb 5, 2015
Cash Received from C. Mann of $56 750
For 28 Units of Vanilla Ice Cream (8 250 cash discount)
Amount Due $56 750
Amount Received $ 56 750
Balance Due $0
Cash Received in:
Cash
Cheque J. Car t er
Other Signed By
Carters' Cream
Hope Rd, Kingston
Kingston, Jamaica

15. 10
PURCHASES INVOICE
D. Campbell
19 Hagley Park Rd
Kingston, Jamaica
Feb 4, 2015
Invoice 21
To: Carter's Cream
Per Unit
$ Total $
Vanilla Ice Cream 4 10 000
Chocolate Ice Cream 8 15 000
Cherry Flavoured Cream 12 20 000
45 000

16. 11
SALES INVOICE
Carter's Cream
16 Hope Rd
Half Way Tree
Feb 5,2015
Invoice
10
To: A. Warren
Kings Ave
Kingston, Jamaica
Per Unit Total
$ $
Oreo Cool Mint Chocolate Ice
Cream 8 22 000
Cookie & Cream Ice Cream 32 60 000
82 000

17. 12
CREDIT NOTE
Carters'
Cream
Hope Rd
Kingston,
Jamaica
Feb 14, 2015
Credit
Note 16
From: E. Prince
Per Unit Total
$ $
Rum n Raisen Ice
Cream 5 9 000
9 000

18. 13
DEBIT NOTE
B. Braithwaite
Eastwood Park
Rd
Kingston,
Jamaica
Feb 20, 2015
Debit Note 06
To: J. Carter
Per Unit Total
$ $
Male Long sleeve Shirt 2 6 200
6 200

19. 14
PETTYCASH VOUCHER
Voucher# 81697
Date: Feb 24, 2015
ITEM AMOUNT
12units ofPistachio Ice Cream $ 1 500
TOTAL $ 1 500
Claimed By: Jamaican Cream Company
Authorized By: J.Carter

20. 15

21. 16
BOOKS OF ORIGINAL ENTRIES
Purchase Journal
2014
Date Details Invoice# Folio $
Feb 1 E. Prince 1 PL 17 000
Feb 4 D. Campbell 21 PL 45 000
Feb 12 E. Prince 2 PL 90 000
Feb 19 D. Campbell 3 PL 20 000
Feb 24 JamaicanCreamCompany 4 PL 10 000
Feb TransferredtoPurchase a/c 182 000
Return Inwards Journal
Date Details DebitNote Folio $
Feb 15 B. Braithewaite 5 PL 5 400
Feb 20 A. Warren 6 PL 6 200
TransferredtoReturn Inward
a/c
GL 11 600
Sales Journal
Date Details Invoice# Folio $
Feb 1 A. Warren 7 SL 98 000
Feb 1 B. Braithewaite 8 SL 175 000
Feb 1 C. Mann 9 SL 165 000
Feb 5 A. Warren 10 SL 82 000
Feb 5 B. Braithewaite 11 SL 20 000
Feb 14 B. Braithewaite 12 SL 84 000
Feb 19 A. Warren 13 SL 42 000
Feb 29 C. Mann 14 SL 22 000
Feb 29 B. Braithewaite 15 SL 30 000
TransferredtoSalesJournal a/c GL 718 500
Return Outwards Journal
Date Details CreditNote Folio $
Feb 14 E. Prince 16 SL 9 000
TransferredtoReturnOutward
a/c
9 000

22. 17
PETTYCASH BOOK
Petty Cash Book
Receipts Folio Details Voucher# Total Wages Repair Cleaning
Expenses
Goods
Purchased
$ 2014
80 000 b/d Feb1 Float
Feb5 Wages 3 800 3 800
Feb6 Repair Deep
Freeze
4 800 4 800
Feb7 Cleaning
Expense
2 500 2 500
Feb13 Wages 3 800 3 800
Feb18 Goods Purchased 500 500
Feb19 Cleaning
Expense
1 000 1 000
Feb20 Wages 3 800 3 800
Feb24 Goods Purchased 1 500 1 500
Feb27 Wages 3 800 3 800
Feb31 Repair Deep
Freeze
4 000 4 000
29 500 15 200 8 800 3 500 2 000
c/d Feb31 Balance 50 500
80 000 80 000
50 500 b/d Mar 1 Balance
29 500 CB Mar 1 Cash
SALES LEDGER
SALES LEDGER
A. Warren A/C
Date Details Folio $ Date Details Folio $
Feb 1 Balance b/d 80 000 Feb 10 Bank CB 30 000
Feb 1 Sales SJ 98 000 Feb 20 Returns Inward RIJ 6 200
Feb 5 Sales SJ 82 000 Feb 28 Balance c/d 265 800
Feb 19 Sales SJ 42 000
302 000 302 000
Mar 1 Balance b/d 265 800

23. 18
B. Braithewaite A/C
Date Details Folio $ Date Details Folio $
Feb 1 Balance b/d 75 000 Feb 6 Bank CB 237 500
Feb 1 Sales SJ 175 000 Feb 6 Discount allowed CB 12 500
Feb 5 Sales SJ 20 000 Feb 15 Returns Inward RIJ 5 400
Feb 29 Sales SJ 30 000 Feb 28 Bank CB 42 370
Feb 28 Discount allowed CB __2 230
300 000 300 000
C. Mann A/C
Date Details Folio $ Date Details Folio $
Feb 1 Sales SJ 165 000 Feb 5 Cash CB 148 500
Feb 14 Sales SJ 84 000 Feb 5 Discount allowed CB 16 500
Feb 28 Sales SJ _22 500 Feb 28 Balance c/d 106 500
271 500 271 500
Mar 1 Balance b/d 106 500

24. 19
PURCHASES LEDGER
PURCHASES LEDGER
D. Campbell A/C
Date Details Folio $ Date Details Folio $
Feb 6 Bank CB 100 800 Feb 1 Balance b/d 67 000
Feb 6 Discount Received CB 11 200 Feb 4 Purchases PJ 45 000
Feb 28 Balance c/d _20 000 Feb 19 Purchases PJ _20 000
132 000 132 000
Mar 1 Balance b/d 20 000
E. Prince A/C
Date Details Folio $ Date Details Folio $
Feb 14 Returns Outward ROJ 100 000 Feb 1 Balance b/d 56 450
Feb 28 Balance c/d 118 450 Feb 1 Purchases PJ 81 000
_______ Feb 12 Purchases PJ _81 000
218 450 218 450
Mar 1 Balance b/d 118 450
Jamaican Cream Company
Date Details Folio $ Date Details Folio $
Feb 28 Balance c/d 75 000 Feb 4 Machinery GL 75 000
75 000 75 000
Mar 1 Balance b/d 75 000
Confectionery and Supplies
Date Details Folio $ Date Details Folio $
Feb 28 Balance c/d 10 000 Feb 24 Purchases PJ 10 000
10 000 10 000
Mar 1 Balance b/d 10 000

25. 20
GENERAL LEDGER
Sales
Date Details Folio $ Date Details Folio $
Feb 28 Trading A/C 718 500 Feb 28 Credit Sale SJ 718 500
Purchases
Date Details Folio $ Date Details Folio $
Feb 28 Credit Purchases PJ 224 000 Feb 28 Trading A/C 224 000
Returns In.
Date Details Folio $ Date Details Folio $
Feb 28 Total Credit RIJ 11 600 Feb 28 Trading A/C 11 600
Returns Out.
Date Details Folio $ Date Details Folio $
Feb 28 To Profit & loss 9 000 Feb 28 Total Credit ROJ 9 000
Electrical Bills
Date Details Folio $ Date Details Folio $
Feb 2 Bank CB 5 400 Feb 28 To Profit & loss 5 400
Gas Bill
Date Details Folio $ Date Details Folio $
Feb 2 Bank CB 6 800 Feb 28 To Profit & loss 6 800
Repairs
Date Details Folio $ Date Details Folio $
Feb 6 Petty Cash Book PCB 4 800 Feb 28 To Profit & loss 8 800
Feb 28 Petty Cash Book PCB 4 000
8 800 8 800
Cleaning Expenses
Date Details Folio $ Date Details Folio $
Feb 7 Petty Cash Book PCB 2 500 Feb 28 To Profit & loss 3 500

26. 21
Feb 19 Petty Cash Book PCB 1 000
3 500 3 500
Wages
Date Details Folio $ Date Details Folio $
Feb 5 Petty Cash Book PCB 3 800 Feb 28 To Profit & loss 15 200
Feb 13 Petty Cash Book PCB 3 800
Feb 20 Petty Cash Book PCB 3 800
Feb 27 Petty Cash Book PCB 3 800
15 200 15 200

27. 22
CASHBOOK
CASHBOOK
Date Details Folio DiscountAllowed Cash $ Bank Date Details Folio D
1-Feb Balance 160 000 560 000 Feb 1 Petty Cash Book PCB
3-Feb Bank C 20 000 Feb 2 electrical Bills Gl
5-Feb C. Mann 8 250 56 750 Feb 2 Gas Bill Gl
6-Feb D. Campbell 8 750 166 250 Feb 3 Cash C
9-Feb Cash C 8 300 Feb 6 E. Prince Pl 6
10-Feb A. Warren 30 000 Feb 9 Bank C
28-Feb C. Mann 1,125 ________ 21, 375 Feb 17 Salary Gl
Feb 28 Salary Gl
Feb 28 Balance c/d
18 125 336 750 785 925 6
1-Mar Balance b/d 649 425 248 450

28. 23
TRIAL BALANCE
Date
Carter’s Cream
Trial balance as at Dec.
31 2015. Details Debit$ Credit$
Land and Building 510,165
Machinery 200,000
DeepFreezers 75,000
Motor Vehicles 400,000
Fixtures 75,000
Equipment 90,000
Repairs 8,800
Electrical Bill 5,400
Gas 6,800
Bank Loan 100,000
Wages 15,200
Salaries 44,000
CleaningExpense 3,500
Capital 1,996,550
DiscountAllowed 18,125
DiscountReceived 16,865
Stock 80,000
Carriage Inward 2,000
ReturnOutwards 9,000
ReturnInwards 11,600
Purchases 224,000
Sales 718,500
Cash 248,450
Bank 649,425
PettyCash 50,500
Debtors:A 265,800
C 203,600
Creditors:
CourtsSupplies 75,000
E 196,450
D 65,000
10,000
ConfectioneryandSupplies
3,187,365 3,187,365

29. 24
FIFO
FIFO
DATE
RECIEPTS ISSUES BALANCE
QUALITY PRICE VALUE QUALITY PRICE VALUE QUALITY PRICE VALUE
Feb 1 1000 80 80 000
Feb 1 1500 60 90 000 1000 80 80 000
1500 60 90 000
Feb 2 170 000
400 80 32 000 600 80 48 000
1500 60 90 000
Feb 4 138 000
1000 70 70 000 600 80 48 000
1500 60 90 000
1000 70 70 000
Feb 5 208 000
600 80 48 000 0 80 0
300 60 18000 1200 60 72 000
1000 70 70 000
Feb 12 142 000
500 80 40 000 1200 60 72 000
1000 70 70 000
500 80 40 000
Feb 14 182 000
400 70 28 000 600 70 42 000
500 80 40 000
Feb 19 82 000
442 70 30 940 158 70 11 060
500 80 40 000
Feb 24 51 060
300 80 24 000 158 70 11 060
500 80 40 000
300 80 24 000
75 060

30. 25

31. 26
PROFIT & LOSS ACCOUNT
Carters’ Cream
TRADING PROFIT & LOSS ACCOUNT FOR THE MONTH ENDED FEB 28, 2015.
$ $ $
SALES 718 500
LESS RETURNSINWARDS 11 600
NET SALES 706 900
LESS COST OF GOODSSOLD:
OPENINGSTOCK 80 000
PURCHASES 224 000
CARRIAGEINWARDS 2 000
226 000
LESS RETURNSOUTWARDS 9 000
NET PURCHASES 21 7000
GOODS AVAILABLEFORRESALE 297 000
LESS CLOSINGSTOCK 75 060
COST OF GOOD SOLD 221 940
GROSS PROFIT 484 960
REVENUES:
DISCOUNTRECEIVED 16 865
501 825
EXPENSES:
REPAIRS 8 800
ELECTRICAL BILLS 5 400
GAS 6 800
WAGES 15 200
SALARIES 44 000
DISCOUNTALLOWED 18 125
CLEANINGEXPENSE 3 500
101 825
NET PROFIT 400 000

32. 27
BALANCE SHEET
Carter’s Cream
BALANCE SHEET AS AT FEB 28, 2015
$ $ $
ASSETS
FIXEDASSETS
LAND& BUILDING 510 165
FIXTURES 75 000
EQUIPMENT 90 000
MACHINERY 200 000
DEEP FREEZERS 75 000
MOTOR VECHICLES 400 000
1350 165
CURRENTASSETS
CLOSINGSTOCK 75 060
DEBTOR : A 265 800
C 203 600
BANK 649 425
PETTY CASH 50 500
CASH 248 450
1 492 835
LESS CURRENTLIABILITIES
CREDITOR : COURT SUPPLIES 75 000
E 196 450
D 65 000
CONFECTIONERY& SUPPLIES 10 000
WORKINGCAPITAL 1 146 385
2 496 550
LESS LONGTERMLIABILITIES
BANKLOAN 100 000
2 396 550
FINANCEDBY:
CAPITAL 1 996 550
NET PROFIT 400 000
2 396 550
LESS DRAWINGS 0
2 396 550

33. 28
PERFORMANCE OF BUSINESS
The above bar graph shows the performance of the business showing the financial
elevation of Carters’ Cream each year since 2011. The graph above shows the increase in
profit from 2011 to 2012 then having a colossal increase of $300,000.00 in 2015. Contrary
to the other years the business made an immense escalation in 2016 of $400,000.00. The
following information will elucidate the bar chart above.
In 2011 when the business commenced in a prominent location known for selling the best
ice-cream Carters’ Cream made a small profit with a slight increase up to 2012. Carters’
Cream began to create nutritious and attractive flavors unlike any other ice-cream business
which caused the business to obtain customers from other businesses precipitating an
increase in profit of $300,000.00 in 2014. After looking at the profitability of the business
since 2011 Carters’ Cream began to deliver ice-cream leading to more customers causing a
tremendous increase of $400,000.00 in 2016.
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
120 000 200 000 250 000 300 000 350 000 400 000
Profit For Each Year

34. 29
Net Profit=
Net Sales
400,000= %57
706,900
For every $100 of sales Carters’ Cream earns $57 in net profit.
Carters’ Cream makes a profit of $57 out of $100 therefore this is good for the business
because we are selling more than we purchase.

35. 30
INTERPRETATIONOF RESULTS
CURRENT RATIO
Feb 28, 2016
Current Assets=
Current Liabilities
1,492,835=
346, 450
=4:1
For every $1 in current liabilities Carters’ Cream has $4 to cover debts.
Jan 31, 2016
750,000=
223, 450
=3:1
For every $1 in current Liabilities Carters’ Cream has $3 in current assets to cover debts.
In comparison to Jan 1, 2016 Carters’ Cream is more liquid Feb 28, 2016 to cover debts
because the business improved in the amount of goods sold therefore becoming more
profitable in February.
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
Jan 31, 2016 Feb 28, 2016
Current Ratio

36. 31
ACID TEST/ QUICKRATIO
Jan 31, 2016
Current Asset – Stock=
Current Liabilities
750 000 – 80 000=
223 450
=3:1
For every $1 in current liabilities Carters’ Cream has $3 to cover debts.
Feb 28, 2016
Current Asset - Stock=
Current Liabilities
1 492 835 - 80 000=
346 450
=4:1
For every $1 in current Liabilities Carters’ Cream has $4 to cover debts.
The comparison above is so, because Carters’ Cream made more profitfrom selling different
flavoursof ice cream in February than Jamaica.
0
1
2
3
4
Jan 31, 2016
Feb 28, 2016
Acid Test/Quick Ratio

37. 32
FURTHER INTERPRETATIONOF RESULTS
SALES
In comparison Carters’ Cream was more profitable at the end of February than at the start
of the month because the business had fewer customers hence we sold fewer goods and
also had less stock in the previous month.
PURCHASES
The reason for the increase profitability is because the product which the business create
have been declared as being the most sumptuous ice-cream to our loyal customers who
keep coming back to purchase more than their usual amount and most of the times with
friends who also bought Carters’ Cream in the month of February which led to an
accumulation of profit for the month in purchases.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
February Start February End
Sales
Purchases

38. 33
Feb 1, 2016
Net Profit=
Net Sales
400,000=
525, 000
=76%
For every $100 of sales Carters’ Cream earns $76 in net profit.
Feb 28, 2016
Net Profit=
Net Sales
400, 000=
718, 000
=56%
For every $100 of sales Carters’ Cream earns $56 in net profit.

39. 34
SUGGESTIONS/ RECOMMENDATIONS
In maximizing profitability Carters’ Cream intends to have business in more than one
location.
In expansion Carters’ Cream could become an international business selling ice-cream to
people worldwide. Carters’ Cream could advertise its ice cream on television and other
advertising media.
The business could employ more people, trust worthy and loyal people to make the overall
managerial staff better by building a family-like relationship together making ice cream
happily.

40. 35
CONCLUSION
In conclusion Carters’Cream has managed to successfully accomplish our financial aims. I
have learnt how to manage the books of original entries well by even developing a good
relationship with the employees. I now understand how to create source documents in the
correct manner.
Also we have accomplished our business aims, increasing in profitability having a
huge growth in the business. As said previously Carters’ Cream also had an
enormous growth in customers because of having different flavors unlike other ice-
cream business. The profitability of Carters’ Cream has earned enough money for an
expansion in other locations. As long as Carters’ Cream has its dedicated customers
and employees we will continue to achieve our goals and aims always creating ideal
ice-cream for our valued customers.