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QUESTION 2 Q No 2: Imran and co. presented following data on Sep 30, 2002 Title of account Debit Credit Cash 51,000 A/c Receivable 25,600

QUESTION 2

  1. Q No 2: Imran and co. presented following data on Sep 30, 2002

Title of account

Debit

Credit

Cash

51,000

A/c Receivable

25,600

Stationary

1500

Insurance expense

300

Equipment

68,000

Furniture

69300

Traveling expense

5000

A/c payable

14,300

Allowance for depreciation- equipment

5,000

Allowance for depreciation-furniture

18,600

Service revenue

85,300

Salaries expense

24000

Advertising expense

4500

Drawing

17000

Interest expense

1200

Capital

144,200

267400 267400

Additional data:

  1. Bad debts estimated 5% of A/c recivable
  2. Depreciation on furniture 10%
  3. Depreciation on equipment 10%
  4. Salaries outstanding Rs.2700
  5. Interest payable Rs. 400
  6. Stationary used by company Rs.900
  7. Traveling expense is outstanding Rs.1000

Required:

prepare adjusting entries

prepare adjusted trial balance

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