Question
The following is the trial balance of T. Owen as at 31 March 2019 T. Owen Trial Balance as at 31 March 2019 Accounts Debit
The following is the trial balance of T. Owen as at 31 March 2019
T. Owen
Trial Balance as at 31 March 2019
| Accounts | Debit | Credit |
| RM | RM | |
| Inventory at 1 April 2018 | 52,800.00 |
|
| Sales |
| 276,400.00 |
| Purchases | 141,300.00 |
|
| Carriage inwards | 1,350.00 |
|
| Carriage outwards | 5,840.00 |
|
| Returns outwards |
| 2,408.00 |
| Wages and salaries | 63,400.00 |
|
| Business rates | 3,800.00 |
|
| Communication expenses | 714.00 |
|
| Commission paid | 1,930.00 |
|
| Insurance | 1,830.00 |
|
| Sundry expenses | 208.00 |
|
| Buildings | 125,000.00 |
|
| Accounts receivable | 45,900.00 |
|
| Accounts payable |
| 24,870.00 |
| Fixtures | 1,106.00 |
|
| Cash at bank | 31,420.00 |
|
| Cash in hand | 276.00 |
|
| Drawings | 37,320.00 |
|
| Capital at 1 April 2018 |
| 210,516.00 |
| Total | 514,194.00 | 514,194.00 |
Inventory at 31 March 2019 was RM58,440.00
REQUIRED:
- Prepare income statement as at 31 March 2019
- Prepare financial position as at 31 March 2019
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
Performance Audit Department Of Highways Preconstruction And Construction Activities
Authors: Montana. Legislature. Office Of The Legi
1st Edition
1175365823, 978-1175365828
