Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 TRIAL BALANCE SAMPLE LTD YEAR ENDED 31/12/2021 DR CR GHC GHC 300,000 Sales Purchases 240,000 Opening Stock 18,000 Rent Expense 9,000 Salaries and Wages
2 TRIAL BALANCE SAMPLE LTD YEAR ENDED 31/12/2021 DR CR GHC GHC 300,000 Sales Purchases 240,000 Opening Stock 18,000 Rent Expense 9,000 Salaries and Wages 15,000 Electricity Expense 8,000 Debtors 30,000 Bank 40,000 Stated Capital 72,200 Motor Vehicle (Cost) 30,000 ECG Ltd 19,000 Landlord Kante 6,800 Trade Creditors 30,000 409,000 409,000 Additional Information GHC 1. Closing Stock 46,100 2. 3 months bill for the year due Landlord Kante 6,000 is yet to be provided 3. 2 months bill for the year due ECG Ltd 9,500 Required Prepare the INCOME STATEMENT FOR THE YEAR ENDED 31/12/2021 STATEMENT OF FINANCIAL POSITION AS AT 31/12/2021
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started