Question
Question 1 The following is the Trial Balance ofS. Campbell as atJune 30, 2017. Accounts Dr($) Cr($) Machinery 30, 350 Motor Vehicle 22, 600 Sales
Question 1
The following is the Trial Balance ofS. Campbell as atJune 30, 2017.
Accounts
Dr($)
Cr($)
Machinery
30, 350
Motor Vehicle
22, 600
Sales
80, 485
Purchases
25, 305
Capital
55, 200
Stock - July 1, 2016
9, 150
Creditors
23, 185
Carriage Inwards
4, 500
Carriage Outwards
3, 500
Return Inwards
2, 960
Debtors
13, 785
Insurance
5, 450
Telephone
3, 260
Salary
13, 680
Electricity
9, 500
Bank
9, 970
Cash
4, 860
_______
158, 870
158, 870
The following additional notes has been made available:
(i)Stock at June 30, 2017 was valued at$4,950.
(ii)Insurance prepaid for the period is $2,100.
(iii)Salary accrued as at the period end is $4,320.
USING A WORD OR EXCEL FILE AND UPLOADING
Required:From all the information given above-
(i)Calculate the value of total expenses for the period.
(ii)Calculate the cost of the goods sold.
(iii)Show how much profit or loss S. Campbell made in year ended 2017?
(iv)What is the value of the Non-Current Assets?
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