1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 B. Payment to creditors Rs14500 (further to transaction (a)) 1. Sales on account Rs19000 . Advertising in newspapers, paid in cash, Rs1500 Cost of goods sold Rs20000 - Collections on account Rs16575 Miscellaneous expenses paid in cash Rs4000 Wages paid in cash Rs4500 Recognize rent expenses Rs1000
1. Acquisitions of merchandise inventory on account Rs24500 2. Sales for cash Rs18125 B. Payment to creditors Rs14500 (further to transaction (a)) 1. Sales on account Rs19000 . Advertising in newspapers, paid in cash, Rs1500 Cost of goods sold Rs20000 - Collections on account Rs16575 Miscellaneous expenses paid in cash Rs4000 Wages paid in cash Rs4500 Recognize rent expenses Rs1000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Consider the following transactions for April month
1. Acquisitions of merchandise inventory on account Rs24500
2. Sales for cash Rs18125
3. Payment to creditors Rs14500 (further to transaction (a))
4. Sales on account Rs19000
5. Advertising in newspapers, paid in cash, Rs1500
6. Cost of goods sold Rs20000
7. Collections on account Rs16575
8. Miscellaneous expenses paid in cash Rs4000
9. Wages paid in cash Rs4500
10. Recognize rent expenses Rs1000
11. Depreciation of store equipment, Rs125
a. PART A: Prepare a ledger account for the month ended April 2020.
b. PART B: Prepare a trail balance for the month ended April 2020](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5622647-05a5-4f42-be10-13cdba0774a4%2F760c76fa-d82f-4da7-bc74-4638a1e99449%2Fgad7arn_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the following transactions for April month
1. Acquisitions of merchandise inventory on account Rs24500
2. Sales for cash Rs18125
3. Payment to creditors Rs14500 (further to transaction (a))
4. Sales on account Rs19000
5. Advertising in newspapers, paid in cash, Rs1500
6. Cost of goods sold Rs20000
7. Collections on account Rs16575
8. Miscellaneous expenses paid in cash Rs4000
9. Wages paid in cash Rs4500
10. Recognize rent expenses Rs1000
11. Depreciation of store equipment, Rs125
a. PART A: Prepare a ledger account for the month ended April 2020.
b. PART B: Prepare a trail balance for the month ended April 2020
![The balance sheet account of Tata limited had the following balances on April 1, 2020, the beginning of a fiscal year
Tata limited
Balance SheetAccounts April 1,2020
Cash
Accountsreceivatile
Machandiseinventary
Propaidrent
Stareequipmet
Acamulateddepreciation stare
equipment
Accountspayable
Paid-in capital
Retainedeamings
Rs 1300
12600
38900
2000
10500
Rs2875
22500
15,000
24925](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5622647-05a5-4f42-be10-13cdba0774a4%2F760c76fa-d82f-4da7-bc74-4638a1e99449%2F0p69sib_processed.png&w=3840&q=75)
Transcribed Image Text:The balance sheet account of Tata limited had the following balances on April 1, 2020, the beginning of a fiscal year
Tata limited
Balance SheetAccounts April 1,2020
Cash
Accountsreceivatile
Machandiseinventary
Propaidrent
Stareequipmet
Acamulateddepreciation stare
equipment
Accountspayable
Paid-in capital
Retainedeamings
Rs 1300
12600
38900
2000
10500
Rs2875
22500
15,000
24925
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