4:36 0 Q.1 8.11 49% Principles of Accounting Practice Questions Question no:2(a) Account Name Cr $ Dr $ 15000 42,500 90,000 60,000 60,000 9000 Cash in hand Debtors Furniture and Fixtures Opening Stock Goodwill Accumulated Depreciation on Furniture and Fixes Bank Overdraft Addison's Capital Mortgage Loan Sales less returns Commission earned Purchases Less returns Rent Expense Misc. Expense 27,500 95000 60000 232500 15000 145000 24000 2500 439000 439000 Prepare trading and Loss account and balance sheet. 1. Closing stock on December 31st 2015 was $ 105000. 2. Depreciation on furniture @ 10% p.a. 3. Rent Unexpired $ 6000 4. Commission earned but not received $ 3000 Principles of Accounting Practice Questions 4:36 0 @ . Bil 49% Principles of Accounting Practice Questions 2 (b) Particulars Dr Cr $ $ Capital 35000 Motor Vehicle 7600 Drawings 3000 Purchases 104000 Freight 4300 3700 Carriage in Returns 3200 Sales 134,400 Salaries 6500 Rent 2000 Stock (1-1-15) 10000 A/R & A/P 9100 Cash in hand 27.400 180,800 180,800 Prepare Trading and Profit and Loss Account & Balance Sheet. 1. Closing Stock $ 17000. 2. Depreciation on motor vehicle 10%. 3. Outstanding salaries $ 300. 4. Goods drawn by proprietor for personal use 600