Question
The following balances were taken from the books of Choice Products Enterprise, a small proprietor, on april 30,2022 $ Motor vechile 102,000 bad debts 10,500
The following balances were taken from the books of Choice Products Enterprise, a small proprietor, on april 30,2022
$
Motor vechile 102,000
bad debts 10,500
return inwards 3,600
Commission received 6,600
Cash on hand 41,100
return outwards 4500
Purchases 174,000
Sales 360,000
Bank overdraft 45,000
Carriage inwards. 8400
carriage outwards 8700
Advertising expenses 10,000
debtors 50,000
creditors 144,000
Equipment 140,000
salaries 120,000
long term loans 66,000
Opening inventory 34,500
Miscellaneous expenses 54,000
A) prepare the trail balance for choice products enterprise. the amount for the capital must be included
b) prepare the statement of profit and loss and the statement of comprehensive income for choice products enterprise for the period april 30,2022
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A New Auditors Guide To Planning Performing And Presenting IT Audits
Authors: Nelson Gibb, CIA, CISA, CISSP, Divakar Jain, CA, CPA, Amitesh Joshi, Surekha Muddamsetti, Sarabjot Singh
1st Edition
0894136852, 978-0894136856
