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Mich Company is an electronic store listed in United Arab Emirates. The following items are the account balances as at 31 May 2020: AED Bank
Mich Company is an electronic store listed in United Arab Emirates. The following items are the account balances as at 31 May 2020:
| AED |
Bank | 350,000 |
Cash | 15,100 |
Account receivable | 100,300 |
Dividends | 18,000 |
Interest income | 12,000 |
Sales | 328,600 |
Insurance | 36,000 |
Equipment | 440,000 |
Vehicle | 80,000 |
Salaries and wages | 60,900 |
Account payable | 37,750 |
Rental | 54,000 |
Common stock | 739,255 |
Purchases | 234,800 |
Return inwards | 6,680 |
Return outwards | 5,300 |
Utilities | 22,100 |
Bank loan | 300,000 |
Miscellaneous expenses | 5,025 |
Prepare a trial balance as at 31 May 2020. (5 marks)
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