2.PREPARE THE THE COMPANY FINANCIAL STATEMENT INCOME STATEMENT AND BALANCE SHEET UNADJUSTED TRIAL BALANCE ADJUSTMENT AD JUSTED TIAL BALANCE ACCOUNTT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT account pay able 60.000 60.000 A ccount receivable 65,000 65,000 B ank Cap tal 40,000 2,000 38,000 170,000 170,000 Cash 2.000 1,000 2,000 Comission paid 4.300 4,300 Comission received 1,500 1,500 Discount Alowed 2,300 2,300 Discount Recened 3,500 3,500 Donations s00 500 Drawings 500 500 Fixture and Fitin gs 35.000 35.000 Freight imwards 1000 1,000 Freight outward 1,400 1,400 General Expenses 2300 2,300 Insurance premium 3,600 3,600 Intereat received on investment 5.000 5.000 Land and buiding 80.000 80,000 Loan from Mbb 67,500 67,500 opening inventory 1 JAN 2019 26,000 26,000 Patent 50,000 50,000 Prntng and stationery 700 700 Purchases 65.000 65,000 Rates and taxes 3,200 3,200 Rental paid 4.000 4,000 Rental revenue 3,000 3,000 Retum inw ards 1,500 1,500 Returns O utw ars 1,800 1,800 Sales 88,000 88.000 W ages and salares 12,000 12,000 Electicity Expense 1.566 1,566 1,566 A cerued Electricty U tites bill 1,566 1,566 1,566 500 500 500 Depreciation 7,000 7,000 7.000 A ccumulated Depreciation 7,000 7,000 7,000 uneamed Rental Revenue 1.000 1,000 1,000 Prepaid rental 1,500 1,500 Total 4003 00 4003 00 11566 11 566 409,866 409,866 CLO SING STOCK 7,000
2.PREPARE THE THE COMPANY FINANCIAL STATEMENT INCOME STATEMENT AND BALANCE SHEET UNADJUSTED TRIAL BALANCE ADJUSTMENT AD JUSTED TIAL BALANCE ACCOUNTT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT account pay able 60.000 60.000 A ccount receivable 65,000 65,000 B ank Cap tal 40,000 2,000 38,000 170,000 170,000 Cash 2.000 1,000 2,000 Comission paid 4.300 4,300 Comission received 1,500 1,500 Discount Alowed 2,300 2,300 Discount Recened 3,500 3,500 Donations s00 500 Drawings 500 500 Fixture and Fitin gs 35.000 35.000 Freight imwards 1000 1,000 Freight outward 1,400 1,400 General Expenses 2300 2,300 Insurance premium 3,600 3,600 Intereat received on investment 5.000 5.000 Land and buiding 80.000 80,000 Loan from Mbb 67,500 67,500 opening inventory 1 JAN 2019 26,000 26,000 Patent 50,000 50,000 Prntng and stationery 700 700 Purchases 65.000 65,000 Rates and taxes 3,200 3,200 Rental paid 4.000 4,000 Rental revenue 3,000 3,000 Retum inw ards 1,500 1,500 Returns O utw ars 1,800 1,800 Sales 88,000 88.000 W ages and salares 12,000 12,000 Electicity Expense 1.566 1,566 1,566 A cerued Electricty U tites bill 1,566 1,566 1,566 500 500 500 Depreciation 7,000 7,000 7.000 A ccumulated Depreciation 7,000 7,000 7,000 uneamed Rental Revenue 1.000 1,000 1,000 Prepaid rental 1,500 1,500 Total 4003 00 4003 00 11566 11 566 409,866 409,866 CLO SING STOCK 7,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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O Antipalsu
2.PREPARE THE THE COMPANY FINANCIAL STATEMENT INCOME STATEMENT AND
BALANCE SHEET
UNADJUSTED TRIAL BALANCE
AD JU STMENT
AD JUSTED TIAL BALANCE
ACCOUNTT TITLE
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
account pay ab le
60,000
60,000
A ccount receivable
65,000
65,000
B ank
40,000
2,000
38,000
Cao ital
170,000
170,000
Cash
2,000
1,000
2,000
Comission paid
4,300
4,300
Comission received
1,500
1,500
Discount A llowed
2,300
2,300
Discount Received
3,500
3,500
Donations
50
500
D rawinga
500
500
Fixture and Fittings
35.000
35,000
Freight inw ards
1000
1,000
Freight outw ard
1,400
1,400
General Expen ses
2300
2,300
Insurance premium
3,600
3,600
Interest received on investment
5,000
5,000
Land and building
80,000
80,000
Loan from Mbb
67,500
67,500
opening inventory 1 JAN 2019
26,000
26,000
Patent
50,000
50,000
Printing and stationery
700
700
Purchases
65.000
65,000
Rates and taxes
3,200
3,200
Rental paid
4,000
4,000
Rental revenue
3,000
3,000
Retun inw ards
1,500
1,500
Returns O utw ars
1,800
1,800
Sales
88,000
88,000
W ages and salaries
12,000
12,000
E lectricity Exp ense
1,566
1,566
1,566
A ccrued E lectricity
1,566
1,566
1,566
U tities bill
500
500
500
Depreciation
7.000
7,000
7,000
A ccumulated D epreciation
7,000
7,000
7,000
unearned Rental Revenue
1,000
1,000
1,000
Prepaid rental
1,500
1,500
Total
4003 00
4003 00
11566
11 566
409,866 409.8 66
CLO SING STOCK
7.000
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Transcribed Image Text:4G
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8:35
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O Antipalsu
2.PREPARE THE THE COMPANY FINANCIAL STATEMENT INCOME STATEMENT AND
BALANCE SHEET
UNADJUSTED TRIAL BALANCE
AD JU STMENT
AD JUSTED TIAL BALANCE
ACCOUNTT TITLE
DEBIT
CREDIT
DEBIT
CREDIT
DEBIT
CREDIT
account pay ab le
60,000
60,000
A ccount receivable
65,000
65,000
B ank
40,000
2,000
38,000
Cao ital
170,000
170,000
Cash
2,000
1,000
2,000
Comission paid
4,300
4,300
Comission received
1,500
1,500
Discount A llowed
2,300
2,300
Discount Received
3,500
3,500
Donations
50
500
D rawinga
500
500
Fixture and Fittings
35.000
35,000
Freight inw ards
1000
1,000
Freight outw ard
1,400
1,400
General Expen ses
2300
2,300
Insurance premium
3,600
3,600
Interest received on investment
5,000
5,000
Land and building
80,000
80,000
Loan from Mbb
67,500
67,500
opening inventory 1 JAN 2019
26,000
26,000
Patent
50,000
50,000
Printing and stationery
700
700
Purchases
65.000
65,000
Rates and taxes
3,200
3,200
Rental paid
4,000
4,000
Rental revenue
3,000
3,000
Retun inw ards
1,500
1,500
Returns O utw ars
1,800
1,800
Sales
88,000
88,000
W ages and salaries
12,000
12,000
E lectricity Exp ense
1,566
1,566
1,566
A ccrued E lectricity
1,566
1,566
1,566
U tities bill
500
500
500
Depreciation
7.000
7,000
7,000
A ccumulated D epreciation
7,000
7,000
7,000
unearned Rental Revenue
1,000
1,000
1,000
Prepaid rental
1,500
1,500
Total
4003 00
4003 00
11566
11 566
409,866 409.8 66
CLO SING STOCK
7.000
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