Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Following balances were obtained from the books of The Future Ink Company LTD for the year ending March 31, 2021: DETAILS DR CR

image text in transcribedimage text in transcribedimage text in transcribed

The Following balances were obtained from the books of The Future Ink Company LTD for the year ending March 31, 2021: DETAILS DR CR General Reserve 50,000 Building 75000 10% Debenture 70000 Sales 3,500000 Purchases 2800000 Carriage Inwards 4000 Delivery Charges 15000 Salesmen Salary 80000 Rent and Rates 100000 Insurance 14700 Light and Heating 12300 Repairs and Maintenance 21200 Office Salaries 50000 Salesmen Commission 17400 Auditors fees 1500 Directors fees 20000 Interim Ord Shares Dividend 4000 Furniture and fittings 82000 Provision for Depreciation (Furniture & Fittings) 32800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting & Analysis Using Financial Accounting Information

Authors: Charles H. Gibson

11th edition

324657420, 978-0324657425

More Books

Students also viewed these Accounting questions