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Using the information provided below, create a: (a) trial balance (b) statement of profit or loss, and (c) statement of financial position for Marthas winery
Using the information provided below, create a:
(a) trial balance
(b) statement of profit or loss, and
(c) statement of financial position
for Marthas winery for the year ending December 31,2019
You must also include the workings used to derive the trial balance, such as the statement of affairs and control accounts. The business has provided the following information:
it should be year ending September 30, 2019
(a) trial balance (b) statement of profit or loss, and (c) statement of financial position for Martha's winery for the year ending December 31,2019 You must also include the workings used to derive the trial balance, such as the statement of affairs and control accounts. The business has provided the following information: Commission Payments from credit customers Cash sales Rent received Balc/d Cashbook 43,700 Bal b/d 67,500 Loan repayment 154,000 Payments to credit suppliers 50,000 Cash purchases 82,800 Wages Utilities Rent expense Machinery & equipment Drawings Office expenses 398,000 119,500 35,000 63,500 34,000 52,700 22,000 18,500 24,500 17,000 11,300 398,000 Additional notes: Stock taken for personal use amounted to $9,500 List of balances: Details Motor vehicle Machinery & equipment Building Debtors Creditors Utilities prepaid Rent expense owing Rent received prepaid Stock Loan . Amounts written off as bad debts totaled $6,500 Oct 1 Sep 30 301.000 289,000 172,000 194,000 970,000 935,000 17,200 23,800 11,400 9,500 7,500 9,000 8,500 4,500 11,200 6,400 18,500 21,000 150,000 115,000 Discounts given to credit customers amounted to $3,200 Step by Step Solution
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