Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following further information is to be taken into account: ( a ) Stock in hand at 3 0 . 0 9 . 2 0
The following further information is to be taken into account:
a Stock in hand at was
b Provision is to be made for the following liabilities and due expenses as on
Rent Heat & Light Travellers' commission accountancy charges
c Provision for bald debts is to be raised to of debtors.
d Office furniture is to be depreciated by on book value.
e Mr Trader removed stock for his own use.
You are required to:
a Prepare a Trial Balance
b Prepare a Trading, Profit & Loss and Balance Sheet AC as at Trader carries on a merchanting business. The following balances have been extracted
from these books as on
Capital S Trader at
Office Furniture
Cash drawings S Trader
Stock in hand
Purchases
Sales
Rent
Light and Heat
Insurance
Salaries
Stationery & Printing
Telephone
General Expenses
Travellers Commission
Discount Allowed
Discount Received
Bad debts written off
Debtors
Creditors
Bank Balance
Cash in Hand
Provision for Bad Debts Trader carries on a merchanting business. The following balances have been extracte
from these books as on
The following further information is to be taken into account:
a Stock in hand at was
b Provision is to be made for the following liabilities and due expenses as on
Rent Heat & Light Travellers commission accountancy charges
c Provision for bad debts is to be raised to of debtors.
d Office furniture is to be depreciated by on book value.
e Mr Trader removed stock for his own use.
You are required to:
a Prepare a Trial Balance
b Prepare a Trading, Profit & Loss and Balance Sheet AC as at
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