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URGENTLY NEEDED!!! PART A: STRUCTURED QUESTIONS Question 1: Control Accounts and Incomplete Records HubbaBubba Traders has provided the following details for the year ended April
URGENTLY NEEDED!!! PART A: STRUCTURED QUESTIONS Question 1: Control Accounts and Incomplete Records HubbaBubba Traders has provided the following details for the year ended April 30, 2021: Bank Receipts from debtors 290,200 Balance b/d 104,500 Commission 87,300 Loan 98,000 Bank interest 16,000 Payments to suppliers 111.600 Cash sales 317,600 Equipment 442.000 Fixtures 377,400 Utilities 11.200 Drawings 66,700 Wages 55,000 Cash purchases 72.100 Rent 19.600 Rates 22,500 Balance od 85300 1,088,500 1,088,500 List of balances: Details May 1 Stock 34,000 12,500 Loan 196,000 98,000 Land 811.000 811,000 Fixtures 740,000 314,000 Equipment 0 433,000 Creditors 44.700 68,500 Debtors 92.300 52,300 Rates prepaid 10.100 8,400 Commission prepaid 12,400 19,600 Wages owing 17.400 18,200 Additional notes: 1. Stock taken for personal use amounted to $16,200. 2. Amounts written off as bad debts totaled 88.700. 3. Discounts received from credit suppliers and discounts given to debtors amounted to $14,800 and $11,100 respectively 4. Returns inwards totaled $22,000. Apr 30 5. A set off of $3,600 was applied to both the sales and purchases ledger. 6. The sale of fixtures was at net book value. REQUIRED: Derive the trial balance, statement of profit or loss, and statement of financial position for HubbaBubba Traders for the period. Your submission MUST include all workings, such as the statement of affairs and control accounts
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