QUESTION Isipingo Traders TRIAL BALANCE AS AT 31 MAY 2020 Debit Credit Rand Rand Factory building-at...

Transcribed Image Text:

QUESTION Isipingo Traders TRIAL BALANCE AS AT 31 MAY 2020 Debit Credit Rand Rand Factory building-at cost Equipment at cost Accumulated depreciation Equipment (1 June 2019) Purchases 120 000 80 000 Accumulated depreciation-Factory building (1 June 2019) 20 000 38.000 268 000 Sales 407.000 Inventory (1 June 2019) 40 000 Returns outwards Returns inwards Salaries and wages Bad debts Insurance expense Interest expense Operating expenses 15.000 10 000 58 800 4.600 2-200 1.800 21 000 Accounts payable Accounts receivable Bank Stationery Drawings 36.000 TH36 000 1.600 2.000 24 000 Allowance for doubtful debts (1 June 2019) Long-term loan (12% pa) Capital (1 June 2019) Totals 500 30.000 123 500 670 000 670 000 QUESTION Isipingo Traders TRIAL BALANCE AS AT 31 MAY 2020 Debit Credit Rand Rand Factory building-at cost Equipment at cost Accumulated depreciation Equipment (1 June 2019) Purchases 120 000 80 000 Accumulated depreciation-Factory building (1 June 2019) 20 000 38.000 268 000 Sales 407.000 Inventory (1 June 2019) 40 000 Returns outwards Returns inwards Salaries and wages Bad debts Insurance expense Interest expense Operating expenses 15.000 10 000 58 800 4.600 2-200 1.800 21 000 Accounts payable Accounts receivable Bank Stationery Drawings 36.000 TH36 000 1.600 2.000 24 000 Allowance for doubtful debts (1 June 2019) Long-term loan (12% pa) Capital (1 June 2019) Totals 500 30.000 123 500 670 000 670 000