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introduction to accounting question Question 2 The following accounts balances were extracted from the books of Face Mask Enterprise as at 31 December 2020. RM
introduction to accounting question
Question 2 The following accounts balances were extracted from the books of Face Mask Enterprise as at 31 December 2020. RM RM Cash in hand 2,000 1,700 Cash at bank 3,000 55,000 Trade receivables Trade payables Machinery Capital Land 2,000 10,000 Prepaid advertising expenses 24,000 Sundry expenses 23,500 Utilities expenses 25,200 Vehicles 42,000 Carriage inwards ? Commission revenue 800,000 Drawings 820,000 Salaries 610,000 Electricity expenses 5,800 Discount received 3,000 Accrued interest received 2,100 4,200 Sales 23,400 Purchases 4,900 Bank overdraft 3,100 Accrued rent expenses 2,000 Required: a) Calculate the capital amount. (3 marks) b) Prepare a Trial Balance for Face Mask Enterprise as at 31 December 2020. (17 marks) (Total: 20 Marks)Step by Step Solution
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