Question
The following trial balance was extracted from the books of ABC Investment on 31 May 2021. Trial Balance as at 31 May 2021 DR CR
The following trial balance was extracted from the books of ABC Investment on 31 May 2021.
Trial Balance as at 31 May 2021
|
| DR | CR |
| Capital |
| 1 000 |
| Motor expenses | 15 200 |
|
| Returns Outward |
| 1 350 |
| Carriage Outwards | 1 200 |
|
| Inventory 01.04.2020 | 25 800 |
|
| Purchases | 189 650 |
|
| Debtors | 56 400 |
|
| Bank |
| 84 170 |
| Drawings | 34 820 |
|
| Sales |
| 265 700 |
| Returns Inwards | 760 |
|
| Creditors |
| 44 440 |
| Carriage Inwards | 550 |
|
| Motor Vehicles | 120 500 |
|
| Provision for doubtful debts |
| 880 |
| Provision for depreciation |
| 47 340 |
|
|
|
|
| TOTAL | 444 880 | 444 880 |
Inventory as at 31 May 2021 was valued N$ 12 900
Required:
Prepare statement of comprehensive income and statement of financial position for the year ended 31 May 2021.
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Hotel And Restaurant Accounting
Authors: Cole Raymond
8th Edition
0866125531, 9780866125536
