[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-249455-105":53,"doc-detail-249455-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","student-toolkit-worksheets-9-12-vat-financial-statements","Student Toolkit Worksheets 9 - 12 - VAT & Financial Statements","","Worksheets 9 to 12 guide a VAT-registered business through calculating VAT balances and producing core year-end financial statements. Activity 4 explains recording output and input VAT, using totals from the payments cash book, petty cash book, and receipts cash book, then determining the amount due to or from HMRC at 31 July 20XX. Activity 5 sets out how to complete a trial balance and transfer figures to the profit and loss account and balance sheet for the period end.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/student-toolkit-worksheets-9-12-vat-financial-statements/249455/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/student-toolkit-worksheets-9-12-vat-financial-statements/249455.png","ImageObject",442,249,{"name":88,"@type":89},"วิน","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-23","2026-09-12",true,{"@type":98,"interactionType":99,"userInteractionCount":47},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"How is the VAT balance calculated in Worksheet 9?","Question",{"text":108,"@type":109},"Worksheet 9 records output VAT and deducts input VAT from the payments cash book and payments petty cash book. The remaining balance is used to determine the amount due to or from HMRC at 31 July 20XX.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What is the purpose of the trial balance in Worksheet 10?",{"text":113,"@type":109},"The trial balance summarises all account balances at the period end to ensure the accounts balance. These year-end figures are then used to complete the profit and loss account and balance sheet.",{"name":115,"@type":106,"acceptedAnswer":116},"Which worksheets should be completed after Worksheet 10 balances?",{"text":117,"@type":109},"After the trial balance is complete and balances, the final figures are transferred to Worksheet 11 (profit and loss account) and Worksheet 12 (balance sheet) for the period end.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},249455,1790176806,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":47,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":47,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":73},2336475104736,"https://ap-avatar.wpscdn.com/avatar/22000c4c5e0e5b17e70?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786591360781797222","ACTIVITY 4  \nVAT  \nAs explained in the VAT guidance, a VAT registered business must record its output and input VAT and submit a quarterly, monthly or annual return to HMRC.  \nIf the business has more output VAT than input VAT it willowe HMRC the balance and if it has more input VAT than output VAT for the period then HMRC will refund the difference.  \n1 Worksheet 9 shows a pro forma VAT account order to calculate the VAT balance at the end of July 20XX. Use the total VAT figures from the payments cash book, petty cash book and receipts cash book to complete the VAT account.  \nACTIVITY 5  \nTRIAL BALANCE/PROFIT AND LOSS/ BALANCE SHEET  \nThe trial balance summarises all the account balances atthe period end to ensure that the accounts balance. This information is then used to complete the profit and loss account and the balance sheet.  \n1 Worksheet 10 shows a trial balance. Some of the year end figures have been provided but you need to complete the trial balance using the results from activities 1 to 4. Follow these steps to complete the trial balance.  \nStep 1 is to calculate the totals for column C.  \nPlease see worksheet 10 to letter the columns.  \ni Use the net book value you have calculated on the fixed asset register.  \nii The balance for column C is given.  \niii Insert the balances and movement you have calculated on the bank account worksheet.  \niv Insert the balances and movement you have calculated on the VAT account worksheet.  \nv Add together the cash book and petty cash book totals for receipts and each expense heading and enter in column B. Add together boxes A and B and enter the answer in column C.  \nvi Use the depreciation figure calculated on the fixed asset register.  \nStep 2 is to transfer the totals from column C to either the debit or the credit side as indicated by the boxes provided. Total the debit and credit boxes – each side should balance.  \n2 Once the trial balance is complete and it balances then the final figures can be used to complete the profit and loss account, worksheet 11, and balance sheet, worksheet 12, for the period end. You can either complete the worksheets provided or set up the statements on an Excel spreadsheet.  \nThe trial balance shows which statement the figures should appear on. So, using this information and the instructions on worksheets 11 and 12, complete the profit and loss account and balance sheet.  \nAppendix A  \nWORKSHEET 9 – VAT ACCOUNT  \n£  \n\n| Balance brought forward 1 July 20XX | 1,545.23 |\n| --- | --- |\n\nOutput VAT (ie, on sales) July 20XX  \n\n| Less: |\n| --- |\n| Input VAT from payments cash book July 20XX |\n| Input VAT from payments petty cash book July 20XX |\n\n\n| Less: |\n| --- |\n| Amount paid to HMRC in month |\n\nBalance due to/from (delete as applicable) HMRC as at 31 July 20XX  \n* Remember to add together VAT from payments cash book and petty cash book  \nAppendix A  \nWORKSHEET 10 – TRIAL BALANCE  \nFixed assets  \nINSTRUCT  \n(SEE PAGE 11)  \ni  \nSTEP 1 STEP 2  \nBALANCE MOVEMENT TB FIGURE (£) (c) DEBIT (£) CREDIT (£) STATEMENT  \n30 JUNE (£) (a) JULY (£) (b)  \n42,979.86 -7,797.30 Bsheet  \n\n| Stock – closing | ii | 25,000.00 | 25,000.00 |  | Bsheet |\n| --- | --- | --- | --- | --- | --- |\n| Stock – closing | ii | 25,000.00 |  | 25,000.00 | P&L acc |\n| Debtors | ii | 12,967.00 | 12,967.00 |  | Bsheet |\n| Bank and Cash | iii | 12,534 .73 -2,693 .09 |  |  | Bsheet |\n| Creditors | ii | 12,500.00 |  | 12,500.00 | Bsheet (c) |\n| VAT | iv |  |  |  | Bsheet (c) |\n| Director's loan account | ii | 5,500.00 |  | 5,500.00 | Bsheet (f) |\n| Share capital |  | 1,000.00 |  | 1,000.00 | Bsheet |\n| Profit and loss account |  | 52,864.00 |  | 52,864.00 | Bsheet |\n| Sales | v | 169,323.19 |  | 177,844.49 | P&L acc |\n| Purchases | v | 97,569.56 |  |  | P&L acc |\n| Opening stock | ii | 11,256 .00 11,256 .00 | 11,256.00 |  | P&L acc |\n| Director's salary | v | 9,350.00 | 10,435.56 |  | P&L acc |\n| Wages | v | 34,962.27 |  |  | P&L acc |\n| Tax, NIC | v | 3,846.00 |  |  | P&L acc |\n| Postage, st","cbCaiaKDWQ6FRd1U","https://ap.wps.com/l/cbCaiaKDWQ6FRd1U","pdf",137960,"English","# Activity 4: VAT\n## Worksheet 9 – VAT account\n# Activity 5: Trial balance / Profit and loss / Balance sheet\n## Worksheet 10 – Trial balance\n## Worksheet 11 – Profit and loss account\n## Worksheet 12 – Balance sheet","[{\"question\":\"How is the VAT balance calculated in Worksheet 9?\",\"answer\":\"Worksheet 9 records output VAT and deducts input VAT from the payments cash book and payments petty cash book. The remaining balance is used to determine the amount due to or from HMRC at 31 July 20XX.\"},{\"question\":\"What is the purpose of the trial balance in Worksheet 10?\",\"answer\":\"The trial balance summarises all account balances at the period end to ensure the accounts balance. These year-end figures are then used to complete the profit and loss account and balance sheet.\"},{\"question\":\"Which worksheets should be completed after Worksheet 10 balances?\",\"answer\":\"After the trial balance is complete and balances, the final figures are transferred to Worksheet 11 (profit and loss account) and Worksheet 12 (balance sheet) for the period end.\"}]","Student Toolkit Worksheets 9 - 12 - VAT & Financial Statements | PDF",1789251800]