![Question 1 (10 MARKS The following is the trial balance of Bravo LLC as at 31 May 2018: Debit AED Credit AED Capital Drawing Loan- Public Bank 39,500 1,200 100,000 Leasechold premises 75,000 8,000 Motor vehicles Trade debtors25,000 Trade creditors Cash Bank overdraft Sales Purchase Sales returns Purchase returns Carriage outwards Inventory Rent and rates Light and heat Discount allowed Discount received 22,005 2,000 5,000 102,490 85,000 5,210 3,000 250 4,745 300 200 250 Bank interest 512 Interest received Wages and salaries Land and building 328 12,656 49,000 272,573 272,573 The inventory at 31 May 2018 has been valued at AEDS,300. Required: a. Prepare a statement of profit and loss for the year ended 31 May 2018. b. Prepare a statement of financial position as at 31 May 2018. [5 marks] [5 marks]](http://img.homeworklib.com/questions/cede3a40-c958-11ea-a06f-150968a48255.png?x-oss-process=image/resize,w_560)
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Question 1 (10 MARKS The following is the trial balance of Bravo LLC as at 31...
The following is the trial balance of Jackie Chong Trading as at 31 March 2016: Particulars...
The following is the trial balance of Jackie Chong Trading as at 31 March 2016: Particulars RM RM Inventory in 1 April 2015 Purchases and sales Carriage outwards Return outwards Wages and salaries Rent paid Delivery expenses Discount allowed and received Insurance General expenses Premises Trade receivables and payables Furniture and fittings Cash at bank Cash in hand Drawings Capital 17,600 69,185 1,570 10,240 3,015 624 216 405 318 20,000 14,320 2,850 2,970 675 7,620 ______ 151,608 91,920 640 88...
1) Prepare the statement profit or loss for the year ended 31 December 2018 2)Prepare the...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM)...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM) 22,860 5,100 Credit (RM) 41,000 6,860 4,300 930 570 Details Purchases and Sales Inventory on 1 January 2018 Capital Bank overdraft Cash Discount allowed and received Return inwards and outwards Carriage outwards Office expenses Fixtures and Fittings Delivery van Accounts receivable and accounts payable Rent and insurance Drawings Wages and Salaries Dividend received Commission received 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790...
The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 2...
The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 200 25 652 Bank overdraft Bank loan repayable February 2017 Carriage outwards Discounts allowed Discounts received Drawings Inventories at 1 May 2015 Motor vehicle expenses Premises Purchases Rent (expense) and rates Returns inwards Returns...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Ca...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 Purchases 6,263...
Prepare the Income Statement Andy Fleming has been preparing his business's financial statements for the year ended 31 December 2017 The following balances have been extracted from the ledger acc...
Prepare the Income Statement
Andy Fleming has been preparing his business's financial statements for the year ended 31 December 2017 The following balances have been extracted from the ledger accounts at 31 December 2017 Bank loan Bank loan interest Cash at bank Carriage inwards Carriage outwards Commission received Drawings General expenses Inventory at 1 January 2017 Motor vehicles 18 400 645 391 1 056 637 845 17 885 12 470 11 730 35 600 16 500 62 450 3 620...
Section B: Long Questions (Total 75 marks) BI. The following trial balance was extracted from the...
Section B: Long Questions (Total 75 marks) BI. The following trial balance was extracted from the books of Mac Limited as at 31 October 2019: Trial Balance as at 31 October 2019 Dr. Cr. 1.476.948 4,349,474 66.554 18.600 25.000 884,500 53,000 13,000 636,000 18,000 30,000 332,400 553,800 Purchases Sales Returns inwards Returns outwards Insurance Wages and salaries Electricity Telephone charges Rent and rates Carriage Debenture interest paid Advertising expenses Trade receivables Trade payables Discount received Cash at bank Allowance for...
Part 3: Financial statements - 40 marks From the following information of the accounting book of...
Part 3: Financial statements - 40 marks From the following information of the accounting book of Hope Dunn, draw up: (1) an Income statement for the year ended 31 December 2017 (in €). (2) Prepare a Balance Sheet as at 31 December 2017 (in €). 400.000 91,000 255,000 35,000 51,000 Premises Purchases Sales Fixtures and Fittings Motor Cars Allowance for Depreciation: - Fixtures and Fittings • Motor Cars Bank Stock of goods at 1st January 2017 Cash Postage expenses 16,000...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade paya...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 6,263...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at the close of business on 31 July 2018 Debat Credit Purchases 65.240 137.425 Sales Capital Bank 45. 20.000 Discount allowed Returns Inwards Returns outwards Carriage inwards Rent Provision for doubtful dichts Office furniture Motor Van 12, 300 10, 500 Accounts Receivables Accounts Payables Drawings Salaries and wages General expenses Total 19,600 42.000 195,670 195,670 Additional Notes 1. Closing inventory 31 March 2017 P6,500 ii....
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
The following trial balance is that of Mirza Enterprise as at 31 December 2018, Debit (RM) 22,860 5,100 Credit (RM) 41,000 6,860 4,300 930 570 Details Purchases and Sales Inventory on 1 January 2018 Capital Bank overdraft Cash Discount allowed and received Return inwards and outwards Carriage outwards Office expenses Fixtures and Fittings Delivery van Accounts receivable and accounts payable Rent and insurance Drawings Wages and Salaries Dividend received Commission received 140 1,440 790 2,180 450 1,210 2,000 11,900 1,790...
The following information has been extracted from the books of account of Tanya Marsh at 30 April 2016 2275 10 000 6 550 1 250 5 600 15 000 11 500 12 500 23 500 44 500 35 405 2 800 1 200 120 000 45 200 25 652 Bank overdraft Bank loan repayable February 2017 Carriage outwards Discounts allowed Discounts received Drawings Inventories at 1 May 2015 Motor vehicle expenses Premises Purchases Rent (expense) and rates Returns inwards Returns...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 Purchases 6,263...
Prepare the Income Statement
Andy Fleming has been preparing his business's financial statements for the year ended 31 December 2017 The following balances have been extracted from the ledger accounts at 31 December 2017 Bank loan Bank loan interest Cash at bank Carriage inwards Carriage outwards Commission received Drawings General expenses Inventory at 1 January 2017 Motor vehicles 18 400 645 391 1 056 637 845 17 885 12 470 11 730 35 600 16 500 62 450 3 620...
Section B: Long Questions (Total 75 marks) BI. The following trial balance was extracted from the books of Mac Limited as at 31 October 2019: Trial Balance as at 31 October 2019 Dr. Cr. 1.476.948 4,349,474 66.554 18.600 25.000 884,500 53,000 13,000 636,000 18,000 30,000 332,400 553,800 Purchases Sales Returns inwards Returns outwards Insurance Wages and salaries Electricity Telephone charges Rent and rates Carriage Debenture interest paid Advertising expenses Trade receivables Trade payables Discount received Cash at bank Allowance for...
Part 3: Financial statements - 40 marks From the following information of the accounting book of Hope Dunn, draw up: (1) an Income statement for the year ended 31 December 2017 (in €). (2) Prepare a Balance Sheet as at 31 December 2017 (in €). 400.000 91,000 255,000 35,000 51,000 Premises Purchases Sales Fixtures and Fittings Motor Cars Allowance for Depreciation: - Fixtures and Fittings • Motor Cars Bank Stock of goods at 1st January 2017 Cash Postage expenses 16,000...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 6,263...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at the close of business on 31 July 2018 Debat Credit Purchases 65.240 137.425 Sales Capital Bank 45. 20.000 Discount allowed Returns Inwards Returns outwards Carriage inwards Rent Provision for doubtful dichts Office furniture Motor Van 12, 300 10, 500 Accounts Receivables Accounts Payables Drawings Salaries and wages General expenses Total 19,600 42.000 195,670 195,670 Additional Notes 1. Closing inventory 31 March 2017 P6,500 ii....
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