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Larry limited started a business with 100,000. There was a credit sale of 45000 to Vicks Ltd and cash sale of 24,000. There was cash
Larry limited started a business with 100,000. There was a credit sale of 45000 to Vicks Ltd and cash sale of 24,000. There was cash purchase of 55,000 and credit purchase of 40,000 from pages Ltd. At the end of the period Larry had 15,000 worth of stock in the warehouse. Larry paid 1,800 t salesmen. There was rent income of 1,500. 1. Open all the necessary ledger account for Larry Ltd . 2. Prepare the trial balance for Larry Ltd. 3. Prepare the profit and loss account for Larry Ltd. 4. Prepare the balance sheet. THANK YOU FOR HELPING
Larry limited started a business with 100,000. There was a credit sale of 45000 to Vicks Ltd and cash sale of 24,000. There was cash purchase of 55,000 and credit purchase of 40,000 from pages Ltd. At the end of the period Larry had 15,000 worth of stock in the warehouse. Larry paid 1,800 t salesmen. There was rent income of 1,500.
1. Open all the necessary ledger account for Larry Ltd .
2. Prepare the trial balance for Larry Ltd.
3. Prepare the profit and loss account for Larry Ltd.
4. Prepare the balance sheet.
THANK YOU FOR HELPING
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Management Accounting
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Howard D Teall, George Gekas
5th Canadian Edition
0131922688, 978-0131922686
