Prepare a Balance Sheet at 31 March 2004 for Perkins from the trial balance given in exercise
Question:
Prepare a Balance Sheet at 31 March 2004 for Perkins from the trial balance given in exercise 3
.
Data from Exercises 3
The following trial balance has been extracted from the books of Perkins, a sole trader, at 31 March 2004.
Stock at 31 March 2004 was $10 000.
Transcribed Image Text:
Account Premises Plant and Machinery Sales Sales Returns Purchases Purchases Returns Stock at 1 April 2003 Wages Rent Payable Rent Receivable Heating and Lighting Repairs to Machinery Interest on Loan Discounts Allowed Discounts Received Trade debtors Trade creditors Bank Drawings Long-term Loan Capitali $ 60 000 12 000 3 700 59 000 6 000 13 000 2 000 2 700 4 100 750 1 030 1 624 5 000 10 096 104 000 2 550 bas ghibsit 1 800 770 1 880 15 000 55 000 181 000181 000
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To prepare a Balance Sheet for Perkins as of March 31 2004 from the trial balance given we will need to arrange the assets what the business owns liabilities what the business owes and equity the owne...View the full answer
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