2. The following trial balance of Othman as at 31 March 2017. Draw up a set of financial statementsfor the year ended 31 March 2017DrCrRMRMInventory 1 Apr 2016Sales52,800276,400PurchasesCarriage inwardsCarriage outwards141,3001,3505,840Returns outwards2,408Wages and salaries63,400Business rates3,800Communication expenses714Commissions paid1,930Insurance1,830Sundry expenses208Buildings125,000Debtors45,900Creditors24,870Furniture and fittings1,106Cash at bank31,420Cash in hand276Drawings37,320Capital210,516514,194514,194Ending inventory as at 31 March 2017 RM58,440

Answered: 2. The following trial balance of…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter4: Completing The Accounting Cycle

Section: Chapter Questions

Problem 6E

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