Exercise 24- sole proprietor. The following information was obtained from the book of his Mr. Hazran...
Meduling 1 Header Paragraph 5 - - - - - Question 4 (CLO) The following Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31, 2010 and presented to you the Financial Accountant for analysis: Trial Balance Details Accounts Dr $ Cr$ Insurance 1.200,000 Direct expenses 4,000,000 Bills payable 150,000 Net sales 80,000,000 Office furniture and fittings 4,500,000 Accumulated depreciation on furniture & fittings 900,000 Return outwards of direct raw materials 330,000 Rent 3,000,000 500.000 Bank...
The following accounts are taken from the book of GGGG books as at 31 December 2019. Use the following information to prepare the trial balance as at 31 December 2019. RM Purchases 26,000 Sales 33,690 Capital 150,000 Cash in hand 52,000 Opening inventory 5,600 Debtors 70,910 Furniture 10,000 Creditors 1,900 Office equipment 16,000 Wages 1,780 Interest 230 Interest received 4,900 Rental 18,000 Machineries 30,000 Commission 190...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following list of Balances was extracted from the books of C. Radio, general merchant, at 31 December 2002. 6 500 1 000 10 000 30 800 100 Advertising Bad debts First National Bank Capital (balance at 1 January 2002) Cash Creditors Customs duty on purchase Debtors Discount Drawings 8 500 8 000 23 150 240 2 650 380 3 500 Fire and motor vehicle insurance Furniture and fittings at cost Accumulated depreciation on furniture and fittings at 1 January...
1. The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31 December 2019. ZZZ Manufacturing Trial Balance as at 31 December 2019 Debit (RM) Credit (RM) Accounts Cash 68,000 Beginning inventories 24,300 Bank 106,000 Prepaid bills 3,000 Sales 104,900 Purchase 34,600 Custom duties 890 Salaries 13,000 Carriage inwards 190 Heat and lighting expense 7,500 Allowance for Doubtful Debts (AFDD) 550 Insurance 6,000 . Bad debts 290 Debtors 34,000 Machineries 100,000 Fittings and furniture...
The following Trial Balance was extracted from the books of ZZZ Manufacturing as at 31 December 2019. ZZZ Manufacturing Trial Balance as at 31 December 2019 Debit (RM) Credit (RM) Accounts Cash 68,000 Beginning inventories 24,300 Bank 106,000 Prepaid bills 3,000 Sales 104,900 Purchase 34,600 Custom duties 890 Salaries 13,000 Carriage inwards 190 Heat and lighting expense 7,500 Allowance for Doubtful Debts (AFDD) 550 Insurance 6,000 . Bad debts 290 Debtors 34,000 Machineries 100,000 Fittings and furniture 43,000...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance and additional information were extracted from the accounting records of Lancet Traders on 28 February 2018, the end of the financial year. REQUIRED Prepare the Statement of Comprehensive Income of Lancet Traders for the year ended 28 February 2018 from the information provided below. Use the following format: Sales Cost of sales Gross profit Other operating income Gross operating income Operating expenses Operating profit Interest income Interest expense Net profit for the year INFORMATION LANCET TRADERS...