Question
The following accounting details are available for a TZY Ltd. you need to prepare all the Ledger Accounts and finally prepare a Trial Balance as
The following accounting details are available for a TZY Ltd. you need to prepare all the Ledger Accounts and finally prepare a Trial Balance as on 30th April 2021. Besides also prepare a Cash Flow Statement as on 30th April 2021, using the same accounting information. (Also highlight the Suspense Balance [if any]).
The Balance Sheet of TZY Ltd. as on 31st March 2021 is:
Capital and Liabilities | Amount | Assets | Amount |
Capital | 1,00,000 | Sundry Debtors | 90,000 |
General Reserves | 19,000 | Inventory | 10,000 |
Sundry Creditors | 25,000 | Prepaid Rent | 2,000 |
Cash | 42,000 | ||
1,44,000 | 1,44,000 |
The following transaction details are available for the month of April 2021: ( ) 1. Collection from Debtors 88,000 2. Payment to Creditors 24,000 3. Purchase of Inventory on Credit 80,000 4. Inventory costing 70,000 was sold on credit for 85,000 5. Recognition of Rent expense in April 2021 1,000 6. Wages paid in cash in April 2021 8,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started