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First question: 50 marks Here are the balances extracted from the books of Merchant Rami on 31/12/2019: (amounts in dinars) loan 7500, dividends 1200, investments
First question: 50 marks
Here are the balances extracted from the books of Merchant Rami on 31/12/2019: (amounts in dinars)
loan 7500, dividends 1200, investments in bonds 10000, wages of workers 1260, m. Telephone 90, shop rent 150, accounts receivable 7500, suppliers 6800, payment papers 4500, m. Transfer of sales 500, sales returns 1300, notes receivable 8000, equipment 6000, purchases returns 1300, sales 12000, purchases 5000, bank 8800, fund 1700, merchandise 3000, capital???.
Required: Prepare the trial balance with balances on 31/12/2019, and find the capital.
Second question: 50 marks
The following balances appeared in the ledger of the Nawras commercial establishment as on 31/12/2019 (amounts in dinars):
8000 banks, 6000 boxes, 4000 machines, 4000 beginning merchandise, 2000 notes payable, 17000 purchases, 2000 real estate income received in advance, 800 debit interests, 700 credit interests, 500 sales transfer expenses, 22000 sales, 1000 discounts allowed, 1500 discounts Earned, 2000 sales returns, 2500 purchases returns, 5000 debtors, 4000 creditors, capital???
If you know that the goods at the end of the period are estimated at 10,000 dinars at the cost price and at 9000 dinars at the market price.
What is required is: 1- Preparing the trading account and the profit and loss account for the company for the year ended on December 31, 2015. (28 marks)
2- Photographing the company's balance sheet as it is on 31/12/2015. (22 marks)
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