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ASSIGNMENT TWO, QUESTION FIVE From the following trial balance of John Brown, store owner, prepare a trading account and profit and loss account for the
ASSIGNMENT TWO, QUESTION FIVE From the following trial balance of John Brown, store owner, prepare a trading account and profit and loss account for the year ended December and a balance sheet as at that date, taking into consideration the adjustments shown below: Trial Balance as at December Dr Cr GHC GHC Sales Purchases Sales returns Purchases returns Opening stock at January X Provision for doubtful debts Wages and salaries Rates Telephone Shop fittings at cost Van at cost Debtors and creditors Bad debts Capital Bank balance Drawings i Closing stock at Dec. GHC ii Accrued wages GHC iii. Rates prepaid GHC iv The provision for doubtful debts to be increased to per cent of debtors. v Telephone account outstanding GHC vi Depreciate shop fittings at per cent per annum, and van at per cent per annum, on cost
ASSIGNMENT TWO, QUESTION FIVE From the following trial balance of John Brown, store owner, prepare a trading account and profit and loss account for the year ended December and a balance sheet as at that date, taking into consideration the adjustments shown below: Trial Balance as at December Dr Cr GHC GHC Sales Purchases Sales returns Purchases returns Opening stock at January X Provision for doubtful debts Wages and salaries Rates Telephone Shop fittings at cost Van at cost Debtors and creditors Bad debts Capital Bank balance Drawings i Closing stock at Dec. GHC ii Accrued wages GHC iii. Rates prepaid GHC iv The provision for doubtful debts to be increased to per cent of debtors. v Telephone account outstanding GHC vi Depreciate shop fittings at per cent per annum, and van at per cent per annum, on cost
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