From the following trial balance of G Still, draw up a trading and profit and loss account
Question:
From the following trial balance of G Still, draw up a trading and profit and loss account for the year ended 30 September 20X9, and a balance sheet as at that date.
Stock at 30 September 20X9 was £44,780.
Transcribed Image Text:
Stock 1 October 20X8 Carriage outwards Carriage inwards Returns inwards Returns outwards Purchases Sales Salaries and wages Warehouse rent Insurance Motor expenses Office expenses Lighting and heating expenses General expenses Premises Motor vehicles Fixtures and fittings Debtors Creditors Dr £ 41,600 2,100 3,700 1,540 188,430 61,400 3,700 1,356 1,910 412 894 245 92,000 13,400 1,900 42,560 Cr £ 3,410 380,400 31,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Lets start by preparing the Trading and Profit Loss Account for the year ended 30 September 20X9 bas...View the full answer
Answered By
Faith Chebet
In the past two years many of my students have excell with the knowledge I taught them.
0.00
0 Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
Question Posted:
Students also viewed these Business questions
-
Which of the following team(s) had positive Free Cash Flow in the round? Calculate Free Cash Flow for those team(s). (show calculations) Why do investors like companies that are able to generate Free...
-
F Brown drew up the following trial balance as at 30 September 20X8. You are to draft the trading and profit and loss account for the year ended 30 September 20X8 and a balance sheet as at that date....
-
You are to draw up a trading and profit and loss account for the year ending 31 December 20X2, and a balance sheet as at that date from the following trial balance and details of Partido Ltd: Notes...
-
The stockholders' equity accounts of Marya Corporation on January 1, 2014, were as follows. Preferred Stock (9%, $100 par, cumulative, 5,000 shares authorized) ...$300,000 Common Stock ($3 stated...
-
The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2011 and 2012 are presented below ($ in millions): Information Provided by Pension Plan Actuary:...
-
The following information relates to the activities of H & S Retailers for the year ended 30 April 2009: Prepare an income statement for the year ended 30 April 2009. Motor vehicle running expenses...
-
Exercise and heart attacks. Does regular exercise reduce the risk of a heart attack? To answer this question a researcher finds 4000 men over 40 who have not had heart attacks and are willing to...
-
Table 26 identifies the different life cycles of programs, projects, systems, and products. For each of the life cycles phases, select a project organizational form that you feel would work best....
-
The CPA Journal recently reported that the following are leaders in accounting software. In a recent market share report, Data, Inc. reported the following information on LCD TV manufacturers:...
-
From the following information, draw up the trading account of J Bell for the year ended 31 December 20X7, which was his first year in business: Carriage inwards Returns outwards Returns inwards...
-
The following information relates to A Traders business: During the year, Trader had sold private investments for 4,000 which he paid into the business bank account, and he had drawn out 200 weekly...
-
I. Recognize that cryptology has been around since approximately 1900 B.C. and is not a new phenomenon of the Internet. II. Review and list key dates in history critical to the transformation and...
-
What is the length of the partial wavelength for electromagnetic energy with a frequency of 15 MHz and a phase shift of 263 degrees (in meters)?
-
Let y = f(x) be a function that is differentiable at all real numbers. Suppose f has the form f(x) = {; [cx +6 4+2c for x 1 for x > 1. where b and c are some constants. What is the value of the...
-
Consider the sequence (n) defined by xn = (a) Show that 0In - n! nn (b) Use the result of part (a) and the Squeeze theorem to show that In 0 and n o.
-
Officials of Gwinnett County, one of the fastest growing counties in the country, are looking for ways to expand their sewer system. They are considering two alternative sewer designs. All annual...
-
On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month: Rafael Masey transferred cash from a personal bank account to an account to be...
-
The accounts of Boots Consulting are listed below with their normal balances at October 31, 2014. The accounts are listed in no particular order. Account Balance M. Boots, capital...
-
Subtract the polynomials. (-x+x-5) - (x-x + 5)
-
If the interest on the investment in Question 27.6 had been compounded every six months, how much interest would have been earned over the four years? Data From Question 27.6 If 8,000 is invested for...
-
If 8,000 is invested for 5 years at 6% compound per annum, how much interest is earned over the five years?
-
Interest of 800 is charged and included in a loan of 5,400, i.e. the 4,600 is received. The loan has to be repaid at 1,350 per quarter over the next 12 months. What is the real rate of interest of...
-
Famas Llamas has a weighted average cost of capital of 8.8 percent. The companys cost of equity is 12 percent, and its pretax cost of debt is 6.8 percent. The tax rate is 22 percent. What is the...
-
The common stock of a company paid 1.32 in dividens last year. Dividens are expected to gros at an 8 percent annual rate for an indefinite number of years. A) If the company's current market price is...
-
(1 point) Bill makes annual deposits of $1900 to an an IRA earning 5% compounded annually for 14 years. At the end of the 14 years Bil retires. a) What was the value of his IRA at the end of 14...
Study smarter with the SolutionInn App