Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Case 1 Unadjusted trial balance of Al Midad Traders LLC is given below. Al Midad Traders LLC Unadjusted Trial Balance December 31, 2019 Particulars Debit

image text in transcribed
image text in transcribed
Case 1 Unadjusted trial balance of Al Midad Traders LLC is given below. Al Midad Traders LLC Unadjusted Trial Balance December 31, 2019 Particulars Debit Credit Furniture 136,000 Accounts Receivable 142,500 Prepaid Rent 48,000 Motor Van 70,200 Debtors 125,000 Creditors 40,500 Accounts Payable 37,000 Unearned Revenue 142,500 Capital 178,000 Depreciation 20000 Sales 233,700 Advertisement 40,000 Salary 50,000 Total 6,31,700 6,31,700 Additional information: a. Rent paid on 15 December for 6 months b. Depreciation on Motorman is 10% annually. Motorvan purchase on 1s December 2019. c. In December unpaid salary is OMR 2000 d. 5% of debtor's value realised bad debt in December 2019. e. An additional capital is increased in December 2019, OMR 1000 Required: i. Prepare the adjusting entries. (5 marks) ii. Prepare the adjusted trial balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Authors: Guadarshan S. Gill, Cosserat Graham, Leung Philomena, Coram Paul

5th Edition

0471340723, 978-0471340720

More Books

Students also viewed these Accounting questions