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can you please do the balance sheet in the vertical way. I'm not fully understanding this question so can you show all workings on how
can you please do the balance sheet in the vertical way. I'm not fully understanding this question so can you show all workings on how you accumulate the figures. Thank you!
Question 1: Control Accounts and Incomplete Records Hubba Bubba Traders has provided the following details for the year ended April 30, 2021: Receipts from debiors Commission Bank interest Cash sales Fixtures Bank 290,200 Balance bid 87,300 Loan 16,000 Payments to suppliers 317,600 Equipment 377,400 Utilities Drawings Wages Cash purchases Rent Rates Balance eld 1.ON8.500 104,500 98,000 111.600 442.000 11.200 66,700 55.000 72,100 19,600 22.500 89.300 1.088.500 List of balances: Apr 10 Details Stock Loan Land Fixtures Equipment Creditors Debtors Rates prepaid Commission prepaid Wages owing May 1 34.000 196,000 811,000 740,000 0 44,700 92,300 10.100 12,400 17.400 12.500 98000 811.000 314.000 433.000 68.500 32.300 8,400 19.00 18.200 Additional notes: 1. Stock taken for personal use amounted to $16.200 2. Amounts written off as bad debts totaled $8,700, 3. Discounts received from credit suppliers and discounts given to dehtots amounted to $14.800 and $11,100 respectively, 4. Returns inwards totaled $22,000 2 5. A set off of $3,600 was applied to both the sales and purchases ledger 6. The sale of fixtures was at net book value. REQUIRED: Derive the trial balance, statement of profit or less, and statement of financial position for Hubba Bubba Traders for the period. Your submission MUST include all workings, such as the statement of affairs and control accounts Step by Step Solution
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