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Please Solve this!! 3. The following details are the information of BD Associates for the year December 31, 2004: Cash- BDT 27,000 Sales revenue BDT
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3. The following details are the information of BD Associates for the year December 31, 2004: Cash- BDT 27,000 Sales revenue BDT 95,000 Account receivable 45,500 Purchases- 70,500 Office supplies 6,500 Salaries expenses- 15,500 Prepaid Insurance 7,000 Wages expenses- 11,500 Office buildings- 10,000 Utilities expenses 8,000 Tools and Equipment- 16,000 Interest expenses- 6,500 Furniture 8,500 Miscellaneous expenses- 10,500 Notes payable 35,000 Opening stock- 26,500 Account payable- 75,000 Bills receivable- 15,500 Capital stock- 80,000 Retrained earnings The information also available: a) Salaries earned by employees but not paid as of December 31, amounting to 2.700 and accrued wages at the end of December totaled BDT 1,500. 59 b) Sales for the period include BDT 17,500 worth of goods (cost price) taken by the owner for family use. He has also taken goods for personal consumption worth BDT 10,000 (cost price) which has not been recorded in the books. c) A sum of BDT 5,450 to be written off as bad debt out of account receivable and the provision of 7.5% to be created for doubtful debts. d) Miscellaneous expenses include BDT 2,100 spent for the personal purpose of the owner. e) The tools and equipment are being depreciated BDT1,000. Depreciation of office buildings is based on an estimated life of 25 years and furniture at the rate of 10%. f) Insurance was prepaid to the extent of BDT 1,300. g) Income taxes are estimated to be BDT 3,000. h) Closing stock BDT 25,000. Prepare an adjusted trial balance after passing the necessary adjustment entriesStep by Step Solution
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