The following trial balance is extracted from the books of M/s Ram on March 31, 2005. You
Question:
The following trial balance is extracted from the books of M/s Ram on March 31, 2005. You are required to prepare trading and profit and loss account and the balance sheet as on date :
Transcribed Image Text:
Account title Debtors: Purchases Coal, gas and water Factory wages Salaries Rent Discount Advertisement Drawings Loan Petty cash Sales return Machinery Land and building Income tax Furniture Amount Rs. 12,000 50,000 6,000 Account title 100 9,900 Apprenticeship premium Loan Bank overdraft Sales 11,000 9,000 4,000 Capital 3,000 500 1,000 6,000 500 1,000 5,000 10,000 Creditors Amount Rs. 5,000 10,000 1,000 80.000 13,000 20,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
To prepare the trading and profit and loss account and the balance sheet we need to follow these ste...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On 1/1/18, ABC Corp. granted employees 100,000 stock options. Additional information is presented below: Option Price $30/share Share Price on 1/1/18 $30/share Par Value of Stock $1/share Option...
-
Mary has access to the Petty Cash fund. Her boss has asked her to go to lunch for a business meeting. Is it okay for her to borrow $10 for her personal lunch if she intends to pay it back the...
-
Patagonia uses several certification programs in their sourcing decisions to assure their supply chain traceability and transparency. Select 2 of the certifications they use and why are they so...
-
What are the upper and lower 2.5th percentiles for a chi-square distribution with 2 df? What notation is used to denote these percentiles? Pulmonary Disease The data in Table 6.10 concern the mean...
-
Formalize the sales strategy and quantify the sales opportunities that exist.
-
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...
-
3. In year 0, SmoothCo has $50 million in cash and $50 million in inventory, financed by $100 million in equity. In year 1, the company records $100 million in revenue, $80 million in operating...
-
Carl, a salesman for Smith, comes to Bensons home and sells him a complete set of gourmet cooking utensils that are worth approximately $300. Benson, an eighty-year-old man living alone in a one-room...
-
Net revenue Cost of sales Inventory Total assets $27 500 $21 500 $ 1250 $16 600 co 11.12 Arrow Distributing Corp. (see Table 11.8) likes to track inventory by using weeks of supply as well as by...
-
The following is the trial balance of Manju Chawla on March 31, 2005. You are required to prepare trading and profit and loss account and a balance sheet as on date : Closing stock Rs. 2,000. Account...
-
Prepare trading and profit and loss account and balance sheet as on March 31, 2005 : Closing stock as on March 31, 2005 Rs.22,400 Account Title Machinery Sundry debtors Drawings Purchases Wages...
-
P17-5B Flanagan Corporation accountants have assembled the following data for the year ended December 31, 20X3: December 31, 20X2 Current Accounts (All Result from Operations) 20X3 Current Assets:...
-
Some people jump at the chance to be a change agent while others run from the role. Why is this the case? What are some characteristics of successful change agentry? These factors should refer to the...
-
An S corporation with $50,000 of earnings and profits owns rental real estate and has interest income producing investments. For the last two years, 50% of its gross receipts came from passive...
-
How has Biden Lowered premiums and out of pocket costs for millions of Americans?
-
Product costs using activity rates Body-Solid Inc. manufactures elliptical exercise machines and treadmills. The products are prouced in its Fabrication and Assembly production departments. In...
-
How to start an essay on the multigenerational workforce and your experiences working with each of the generations. Begin your essay with an introduction that outlines the current generations in the...
-
Find the indicated amounts for the fixed rate mortgages. See Examples 1 - 3. Monthly payment Purchase price Down Mortgage amount Interest Mortgage Total paid Years per $1,000 paymen for mortgage...
-
Ask students to outline the reasons why the various elements of culture (social structures and control systems, language and aesthetics, religion and other belief systems, educational systems, etc.)...
-
Suggest, three KPIs for each of the following types of business, and explain why it is unlikely that two businesses will choose identical KPIs. (a) A private hospital (b) A car repair garage (c) A...
-
How taxation is paid calculated from the taxation payable and the taxation liability at the start and end of the period?
-
Explain how the purchases of goods or materials are calculated if we know the cost of goods sold and the inventory (stock) at the start and end of the period?
-
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
-
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
-
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...
Study smarter with the SolutionInn App