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Please answer it very important The following is the pre-closing trial balance of Tariq & Co. as on December 31, 2015: Debit Bilances: Cash Rs

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The following is the pre-closing trial balance of Tariq & Co. as on December 31, 2015: Debit Bilances: Cash Rs 45,000, Merchandise Inventory Rs. 60,000, Accounts Receivable Rs. 55,000. Supplies Rs. 20,000, Prepaid Insurance Rs 30,000, Furniture Rs 40,000, Drawing Rs. 10,000, Sales Return and Allowance Rs 20,000, Purchases Rs 410,000, Salaries Expeases Rs. 50,000. Total Rs. 740,000. Allowance for depreciation-Furniture Ri. 8,000, Accounts Payable Rs 40,000, Unearned Commission Rs 13,000, Capital Tariq Rs 130,000, Sales Rs. 520,000, Purchase Discount Rs 20,000, Rent Income Rs. 9,000. Total Rs. 740,000 a) Depreciation expense on furniture for the year Rs. 4,000. b) Bad Debt Expenses is 2% on net sales. c) Insurance expense for the year Rs. 5,000. d) Supplies on hand Rs 12,000. e) Accrued Salaries Rs. 7,000. f) Actual Rent Income for the year Rs. 15,000. g) Merchandise Inventory on Dec. 31, 2015 Rs. 80,000

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