Michael Anet has the following trial balance Required: Prepare Michael Anets trading and profit and loss account
Question:
Michael Anet has the following trial balance
Required: Prepare Michael Anet’s trading and profit and loss account for the year ended 31 December 2005 and balance sheet as at 31 December 2005.
Transcribed Image Text:
M. Anet Trial Balance as at 31 December 2005 Debit Credit E Hotel 40,000 Van 10,000 Sales 25,000 Purchases 15,000 Capital 51,900 Bank 8,000 Electricity 1,500 Wages 2,500 A. Brush (Debtor) 400 A. Painter (Creditor) 500 77,400 77,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Akshay Singla
as a qualified engineering expert i am able to offer you my extensive knowledge with real solutions in regards to planning and practices in this field. i am able to assist you from the beginning of your projects, quizzes, exams, reports, etc. i provide detailed and accurate solutions.
i have solved many difficult problems and their results are extremely good and satisfactory.
i am an expert who can provide assistance in task of all topics from basic level to advance research level. i am working as a part time lecturer at university level in renowned institute. i usually design the coursework in my specified topics. i have an experience of more than 5 years in research.
i have been awarded with the state awards in doing research in the fields of science and technology.
recently i have built the prototype of a plane which is carefully made after analyzing all the laws and principles involved in flying and its function.
1. bachelor of technology in mechanical engineering from indian institute of technology (iit)
2. award of excellence in completing course in autocad, engineering drawing, report writing, etc
4.70+
48+ Reviews
56+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Need the solution for the following exercise questions. 1) 28.8 2) 28.9 3) 28.10 A 4) 28.13 28.8 The following trial balance was extracted from the books of R Giggs at the close of business on 28...
-
Question 1 , Question 2 and Question 5 part (ii) thanks alot Faculty of Business, Economics & Accounting Department of Accounting and Finance HELP Bachelor of Business (Hons) Year 3 INTERNAL SUBJECT...
-
HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...
-
The advantages of the computerized conversion process model " What is the EOQ model? (For self-study and research) What is JIT? (Self study and research) A firm expects to sell 2000 units of its...
-
XYZ Corp. compensates executives with 10-year European call options, granted at the money. If there is a significant drop in the share price, the companys board will reset the strike price of the...
-
Describe the accounting procedures for research and development costs and for other similar costs.
-
P19-4B Pameon manufactures fine watches. The company is having trouble with one of its watches. If the parts are not machined to exact specifications, the watch will not operate. Even a speck of dust...
-
Global Cell Phones (GCP) has developed a cell phone that can be used anywhere in the world (even countries like Japan that have a relatively unique cell phone system). GCP has been receiving...
-
Hello guys. I really need help with this question. it is urgent. Thanks. How much gross income can Robert expect from his RRSP and RPP assuming he takes 8% from both plans? Assume that the funds are...
-
Paul Icasso has the following trial balance. Required: Prepare Paul Icassos trading and profit and loss account for the year ended 31 March 2006 and a balance sheet as at 31 March 2006. P. Icasso...
-
Profit is the figure which links the profit and loss account and the balance sheet. Discuss.
-
A gas is compressed by an adiabatic process that decreases its volume by a factor of 2. In this process, the pressure A. Does not change. B. Increases by a factor of less than 2. C. Increases by a...
-
+ Given f(x) = x - 9 and g(x) = x+9, complete the following. (a) Find f(g(x)) and g(f(x)). (Simplify your answers completely.) f(g(x)) = g(f(x)) = (b) What does this tell us about the relationship...
-
Case Study - Rhonda Rhonda is a 28-year-old woman who has been referred to your agency by a local probation officer. Rhonda reported that she has "fired" three counselors in the past and most...
-
Calculating depreciationpartial periods LO2, 3 West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $936,000,...
-
Question 1. Write down the form of partial fractions needed to decompose the following: 482+2 (a) s32s24s 482+2 (c) s36s20 482 +2 - 4s8 (b) 8. 3 - 282 482+2 (d) s3 +2s2 - 2 Note: You are not being...
-
On December 31, 2022, Ace Hardware reported the following information on its balance sheet Accounts Receivable Allowance for Doubtful Accounts $900,000 $54,000 (credit) During 2023, the Company had...
-
Davison Electronics manufactures two LCD television monitors, identified as model A and model B. Each model has its lowest possible production cost when produced on Davisons new production line....
-
Graph one period of each function. y = 4 cos x
-
The payroll register of Ruggerio Co. indicates $13,800 of social security withheld and $3,450 of Medicare tax withheld on total salaries of $230,000 for the period. Federal withholding for the period...
-
All of the following are included on Form 1040, page 1, EXCEPT: The determination of filing status. The Presidential Election Campaign check box. The income section. The paid preparer signature line.
-
Question One: (25 marks) (X) Inc. purchased 80% of the outstanding voting shares of (Y) for $360,000 on July 1, 2017. On that date, (Y) had common shares and retained earnings worth $180,000 and...
Study smarter with the SolutionInn App