Reuben Co. started its business selling garments in 2018. Its unadjusted trial balance as at 31...
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Reuben Co. started its business selling garments in 2018. Its unadjusted trial balance as at 31 October 2021 is given as follows: Unadjusted Trial Balance as at 31 October 2021 Accounts Titles Sales Returns Purchases Dr ($) Cr ($) 1,650,248 30,670 25,500 790,566 Carriage inwards Carriage outwards Commission income Utilities expense Rent expense 20,640 21,680 18,200 71,400 16,455 Advertising expense 36,900 Insurance expense 56,800 Salaries and wages expense 300,125 Interest expense 2,500 Sales discount 14,600 Plant and machinery 285,300 Accumulated depreciation - Plant and machinery 89,000 Vehicles 377,714 Accumulated depreciation - Vehicles 101,422 5% Bank Loan, due in 2030 100,000 Capital - Reuben 326,400 Drawings - Reuben 14,930 Inventory, 1 November 2020 76,300 Cash at bank 158,630 Trade receivables 145,700 Trade payables 97,840 Purchases discount 12,300 2,420,910 2,420,910 The following additional information was extracted from the records towards the end of the financial period. 1. Purchase of a machine of $2,800 was debited to Purchases Account in error. Reuben Co. started its business selling garments in 2018. Its unadjusted trial balance as at 31 October 2021 is given as follows: Unadjusted Trial Balance as at 31 October 2021 Accounts Titles Sales Returns Purchases Dr ($) Cr ($) 1,650,248 30,670 25,500 790,566 Carriage inwards Carriage outwards Commission income Utilities expense Rent expense 20,640 21,680 18,200 71,400 16,455 Advertising expense 36,900 Insurance expense 56,800 Salaries and wages expense 300,125 Interest expense 2,500 Sales discount 14,600 Plant and machinery 285,300 Accumulated depreciation - Plant and machinery 89,000 Vehicles 377,714 Accumulated depreciation - Vehicles 101,422 5% Bank Loan, due in 2030 100,000 Capital - Reuben 326,400 Drawings - Reuben 14,930 Inventory, 1 November 2020 76,300 Cash at bank 158,630 Trade receivables 145,700 Trade payables 97,840 Purchases discount 12,300 2,420,910 2,420,910 The following additional information was extracted from the records towards the end of the financial period. 1. Purchase of a machine of $2,800 was debited to Purchases Account in error.
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