Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question # 01 X Company Trial Balance for the Period Year ended 30th June, 2022. PARTICULARS DR TAKA CR TAKA Capital 5,000.00 Purchase 1,800.00
Question # 01 X Company Trial Balance for the Period Year ended 30th June, 2022. PARTICULARS DR TAKA CR TAKA Capital 5,000.00 Purchase 1,800.00 Sales 2,900.00 Sales Return 400.00 Purchase Return 200.00 Wages 300.00 Salaries 200.00 Rent 1,300.00 Insurance Premium 1,200.00 Opening Inventory 800.00 Drawings 300.00 Plant & Machineries 900.00 Cash in Hand 950.00 Cash at Bank 350.00 5% Notes Payable 600.00 Accounts Payable 300.00 Accounts Receivable 500.00 TOTAL 9,000.00 9,000.00 ADJUSTMENTS Total Marks 09 8075 40359325 1. Closing Inventory Tk. 800.00 2. Yearly Rent Payable Tk. 1,200.00 3. Insurance Premium paid on 1st November, 2021 4. Closing Inventory includes Tk. 300.00 being the value of goods destroyed by fire, Insurance company admitted claim for Tk. 190.00 5. Goods taken by the Proprietor Tk. 200.00 at cost price 6. Goods taken by the Proprietor Tk. 300.00 at selling price 7. Bank charged Tk. 25.00 as yearly charge 8. Depreciation @ 10% on depreciable Assets, Required: 1. Adjustment journal entries 2. Adjusted Trial Balance 3. Income Statement 4. Balance Sheet Note: For requirements# 2 to 4, please use tabular foremet.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started