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SECTION A The accounting period of Grace Stores ends on 30 November each year. Their Trial Balance on 30 November 2022 is given below:
SECTION A The accounting period of Grace Stores ends on 30 November each year. Their Trial Balance on 30 November 2022 is given below: Question 1. Prepare the Balance Sheet of Grace Stores on 30 November 2022 DR CR Capital Drawings Land and Buildings 26 726 4 800 22 000 Equipment (at cost) 6 900 Vehicle (at cost) 9 000 Inventory (30 November 2022) 5 542 Mortgage Loan (15%) 10 000 Short Term Loan (14%) 2 000 4 000 Fixed Deposit (12%) Debtors Control Creditors Control Cash Float Petty Cash Bank Accumulated depreciation: Equipment Vehicles Provision for Bad Debt Sales Cost of Sales Wages and Salaries Consumable Stores Income: Rent Bank Charges 1 372 100 1819 50 1 916 300 1 800 60 38 500 19 450 9 600 500 133 33 2 600
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