{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-07T15:17:37-04:00", "answer_date": "2024-06-07 15:17:37", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2423335", "url": "\/study-help\/questions\/2-8-1-0-a-j-wright-a-sole-2423335", "question_creation_date_js": "2024-06-07T15:17:37-04:00", "question_creation_date": "Jun 07, 2024 03:17 PM", "meta_title": "[Solved] 2 8 . 1 0 A J Wright, a sole trader, extr | SolutionInn", "meta_description": "Answer of - 2 8 . 1 0 A J Wright, a sole trader, extracted the following trial balance from his books at the close of business on | SolutionInn", "meta_keywords": "2,8,1,wright,sole,trader,extracted,trial,balance,books,close,business", "question_title_h1": "2 8 . 1 0 A J Wright, a sole trader, extracted the following trial balance from his books at the close of business on", "question_title": "2 8 . 1 0 A J Wright, a sole trader, extracted", "question_title_for_js_snippet": "2 8 1 0 A J Wright, a sole trader, extracted the following trial balance from his books at the close of business on 3 1 March 2 0 X 9 table of business on 3 , table Dr , I , Gr , , 6 1 , 4 2 0 , 1 2 7 , 2 4 5 , Purchases and sales, 7 9 4 0 , , Stock 1 April 2 0 X 8 , , 2 5 , 2 0 0 , Capital 1 Aprll 2 0 x 8 , , 2 , 4 9 0 , Bank overdraft, 1 4 0 , , Cash , 2 , 4 8 0 , 6 2 , Discounts , 3 , 4 8 6 , , Returns inwards,, 1 , 3 5 6 , table Returns outwards , Carriage outwards , 3 2 1 0 , , table Carriage outwards , Rent and Insurance , 8 , 8 7 0 , , table Rent and Insurance , Provision for doubtful debts , , 6 3 0 , Fixtures and fittings, 1 , 9 0 0 , , Van , 5 , 6 0 0 , , Debtors and creditors, 1 2 , 4 1 8 , 1 1 , 4 0 0 , Drawings , 2 1 , 4 0 0 , , Wages and salaries, 3 9 , 2 0 0 , , General office expenses, 3 1 9 , , , 1 6 8 , 3 8 3 , 1 6 8 3 8 3 Noles ( a ) Stock 3 1 March 2 0 9 6 6 , 8 0 5 ( b ) Wages and salaries accrued at 3 1 March 2 0 9 6 3 , 5 0 0 Office expenses owing 6 1 6 ( c ) Rent prepaid 3 1 March 2 0 9 6 6 0 0 ( d ) lncrease the provision for doubtful debts by c 1 1 0 to 1 7 4 0 ( e ) Provide for depreclation as follows Fixtures and fittings 1 9 0 Ven 1 , 4 0 0 Draw up an Income Statement and Statement of Financial Position as at 3 1 August 2 0 7 ", "question_description": "\"image
2<\/mn>8<\/mn>.<\/mn>1<\/mn>0<\/mn><\/mrow><\/math>A J Wright, a sole trader, extracted the following trial balance from his books at the close of business on <\/span>3<\/mn>1<\/mn><\/mrow><\/math> March <\/span>2<\/mn>0<\/mn><\/mrow><\/math>X<\/span>9<\/mn><\/mrow><\/math>:<\/span> <\/div>
\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>of business on <\/span>3<\/mn>,<\/mo>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Dr<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>I<\/span>]<\/mi>]<\/mi>,<\/mo><\/mrow><\/math>Gr<\/span>]<\/mi>,<\/mo>[<\/mi>,<\/mo>6<\/mn>1<\/mn>,<\/mo>4<\/mn>2<\/mn>0<\/mn>,<\/mo>1<\/mn>2<\/mn>7<\/mn>,<\/mo>2<\/mn>4<\/mn>5<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Purchases and sales,<\/span>7<\/mn>.<\/mn>9<\/mn>4<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Stock <\/span>1<\/mn><\/mrow><\/math> April <\/span>2<\/mn>0<\/mn><\/mrow><\/math>X<\/span>8<\/mn>,<\/mo>,<\/mo>2<\/mn>5<\/mn>,<\/mo>2<\/mn>0<\/mn>0<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Capital <\/span>1<\/mn><\/mrow><\/math> Aprll <\/span>2<\/mn>0<\/mn><\/mrow><\/math>x<\/span>8<\/mn>,<\/mo>,<\/mo>2<\/mn>,<\/mo>4<\/mn>9<\/mn>0<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Bank overdraft,<\/span>1<\/mn>4<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Cash<\/span>,<\/mo>2<\/mn>,<\/mo>4<\/mn>8<\/mn>0<\/mn>,<\/mo>6<\/mn>2<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Discounts<\/span>,<\/mo>3<\/mn>,<\/mo>4<\/mn>8<\/mn>6<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Returns inwards,,<\/span>1<\/mn>,<\/mo>3<\/mn>5<\/mn>6<\/mn>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Returns outwards<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Carriage outwards<\/span>]<\/mi>]<\/mi>,<\/mo>3<\/mn>.<\/mn>2<\/mn>1<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Carriage outwards<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Rent and Insurance<\/span>]<\/mi>]<\/mi>,<\/mo>8<\/mn>,<\/mo>8<\/mn>7<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Rent and Insurance<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Provision for doubtful debts<\/span>]<\/mi>]<\/mi>,<\/mo>,<\/mo>6<\/mn>3<\/mn>0<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Fixtures and fittings,<\/span>1<\/mn>,<\/mo>9<\/mn>0<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Van<\/span>,<\/mo>5<\/mn>,<\/mo>6<\/mn>0<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Debtors and creditors,<\/span>1<\/mn>2<\/mn>,<\/mo>4<\/mn>1<\/mn>8<\/mn>,<\/mo>1<\/mn>1<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Drawings<\/span>,<\/mo>2<\/mn>1<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Wages and salaries,<\/span>3<\/mn>9<\/mn>,<\/mo>2<\/mn>0<\/mn>0<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>General office expenses,<\/span>3<\/mn>1<\/mn>9<\/mn>,<\/mo>]<\/mi>,<\/mo>[<\/mi>,<\/mo>1<\/mn>6<\/mn>8<\/mn>,<\/mo>3<\/mn>8<\/mn>3<\/mn>,<\/mo>1<\/mn>6<\/mn>8<\/mn>3<\/mn>8<\/mn>3<\/mn>]<\/mi>]<\/mi><\/mrow><\/math> <\/div>
Noles:<\/span><\/div>
(<\/mi><\/mrow><\/math>a<\/span>)<\/mi><\/mrow><\/math> Stock <\/span>3<\/mn>1<\/mn><\/mrow><\/math> March <\/span>2<\/mn>0<\/mn><\/mo>9<\/mn><\/mtext>6<\/mn>6<\/mn>,<\/mo>8<\/mn>0<\/mn>5<\/mn><\/mrow><\/math> <\/div>
(<\/mi><\/mrow><\/math>b<\/span>)<\/mi><\/mrow><\/math> Wages and salaries accrued at <\/span>3<\/mn>1<\/mn><\/mrow><\/math> March <\/span>2<\/mn>0<\/mn><\/mo>9<\/mn><\/mtext>6<\/mn>3<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>; Office expenses owing <\/span>6<\/mn>1<\/mn>6<\/mn>.<\/mo><\/mrow><\/math> <\/div>
(<\/mi><\/mrow><\/math>c<\/span>)<\/mi><\/mrow><\/math> Rent prepaid <\/span>3<\/mn>1<\/mn><\/mrow><\/math> March <\/span>2<\/mn>0<\/mn><\/mo>9<\/mn>6<\/mn>6<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math> <\/div>
(<\/mi><\/mrow><\/math>d<\/span>)<\/mi><\/mrow><\/math> lncrease the provision for doubtful debts by c<\/span>1<\/mn>1<\/mn>0<\/mn><\/mrow><\/math> to <\/span>1<\/mn>7<\/mn>4<\/mn>0<\/mn><\/mtext>.<\/mo><\/mrow><\/math> <\/div>
(<\/mi><\/mrow><\/math>e<\/span>)<\/mi><\/mrow><\/math> Provide for depreclation as follows: Fixtures and fittings <\/span><\/mi>1<\/mn>9<\/mn>0<\/mn><\/mrow><\/math>; Ven <\/span><\/mi>1<\/mn>,<\/mo>4<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math> <\/div>
Draw up an Income Statement and Statement of Financial Position as at <\/span>3<\/mn>1<\/mn><\/mrow><\/math> August <\/span>2<\/mn>0<\/mn><\/mo>7<\/mn>.<\/mo><\/mrow><\/math> <\/div><\/span> <\/div><\/div> \"image", "transcribed_text": "", "related_book": { "title": "Accounting for Governmental and Nonprofit Entities", "isbn": "78110939, 978-0078110931", "edition": "16th Edition", "authors": "Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/273.jpg", "uri": "\/textbooks\/accounting-for-governmental-and-nonprofit-entities-16th-edition-273", "see_more_uri": "" }, "free_related_book": { "isbn": "9781337408202", "uri": "\/textbooks\/biological-psychology-13th-edition-9781337408202", "name": "Biological Psychology", "edition": "13th Edition" }, "question_posted": "2024-06-07 15:17:37", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/you-have-been-given-a-file-that-contains-fields-relating-168342", "description": "You have been given a file that contains fields relating to CD information. Using the steps of normalization, create a logical data model that represents this file in third normal form. The fields...", "stars": 3 }, { "url": "\/study-help\/accounting-and-finance\/how-may-risk-analysis-be-applied-to-sales-pricing-decisions-1813998", "description": "How may risk analysis be applied to sales pricing decisions?", "stars": 3 }, { "url": "\/study-help\/coaching-supervision-a-practical-guide-for-supervisees\/discuss-the-causal-nature-of-the-relation-between-job-satisfaction-1980283", "description": "discuss the causal nature of the relation between job satisfaction and job performance;", "stars": 3 }, { "url": "\/an-investor-requires-a-return-of-12-percent-a-stock", "description": "An investor requires a return of 12 percent. A stock sells for $25, it pays a dividend of $1, and the dividends compound annually at 7 percent. Will this investor find the stock attractive? What is...", "stars": 3 }, { "url": "\/study-help\/questions\/tentacle-television-antenna-company-provided-the-following-manufacturing-costs-for-9774371", "description": "Tentacle Television Antenna Company provided the following manufacturing costs for the month of June. $140,000 83,000 Direct labor cost Direct materials cost Equipment depreciation (straight - line)...", "stars": 3 }, { "url": "\/study-help\/questions\/please-do-all-of-the-subparts-the-general-ledger-of-9387673", "description": "please do all of the subparts The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,600 8,600 2,600 18,000 Accounts Cash Accounts...", "stars": 3 }, { "url": "\/study-help\/questions\/hunter-is-a-new-federal-borough-of-investigation-agent-who-1002179", "description": "Hunter is a new federal borough of investigation agent who is assigned to Las Vegas. He owns a midnight sedan insured by a personal auto policy. The FBI will not provide Hunter with a car so he will...", "stars": 3 }, { "url": "\/study-help\/questions\/research-paper-outline-introduction-1noncompete-agreements-define-what-is-a-997888", "description": "Research Paper Outline Introduction 1)Non-Compete Agreements- define what is a non compete agreement, history, and why they were created 2) When are these agreements enforceable i.e. definition and...", "stars": 3 }, { "url": "\/study-help\/questions\/you-are-managing-a-medium-size-construction-company-suffering-from-1003435", "description": "You are managing a medium size construction company suffering from employee absence , staff turnover and low productivity. You want to train you divisional managers to influence their teams to...", "stars": 3 }, { "url": "\/study-help\/questions\/choose-a-product-and-discuss-its-full-lifecycle-steps-15-993670", "description": "Choose a product and discuss its full lifecycle (Steps 1-5). Indicate where it is in the life cycle currently. When do you predict the life cycle will end? Why do you think it will end?", "stars": 3 }, { "url": "\/study-help\/questions\/a-she-been-presented-with-the-option-to-take-a-1001529", "description": "A) she been presented with the option to take a lump sum payment of $ 750,000 today or payment in the amount $75,000 over next ten years. Assume 3% interest rate. which preferred option based the...", "stars": 3 }, { "url": "\/study-help\/questions\/which-of-the-following-does-not-explain-why-sometimes-teams-5179689", "description": "Which of the following does NOT explain why sometimes teams do not select the best solution to a problem? Group of answer choices Finding the best solution takes too long. There are trade-offs among...", "stars": 3 }, { "url": "\/study-help\/marketing-strategy-\/what-are-the-different-kinds-of-market-segmentation-options-1552690", "description": "What are the different kinds of market segmentation options?", "stars": 3 }, { "url": "\/study-help\/marketing-strategy-\/when-should-each-kind-of-market-segmentation-be-used-1552689", "description": "When should each kind of market segmentation be used?", "stars": 3 }, { "url": "\/study-help\/marketing-strategy-\/identify-the-key-criteria-in-devising-a-good-sport-marketing-1552692", "description": "Identify the key criteria in devising a good sport marketing objective.", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/in-an-annual-audit-of-flounder-company-limited-you-find-2423334", "next": "\/study-help\/questions\/assume-the-expected-return-on-sfms-equity-is-12-and-2423336" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "2 8 . 1 0 A J Wright, a sole trader, extracted", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/2-8-1-0-a-j-wright-a-sole-2423335" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }