28.9 The trial balance for a small business at 31 August 20X8 is as follows: Stock 1 September 20X7 Purchases and Sales 8,200 26,000 4,400 1,600 340 40,900 Rent Business rates Sundry expenses Motor vehicle at cost 9,000 1,160 1,500 Debtors and creditors 2,100 Bank Provision for depreciation on motor vehicle Capital at 1 September 20X7 Drawings 1,200 19,700 11,700 63,900 63,900 At 31 August 20X8 there was: • Stock valued at cost prices £9,100 Accrued rent of £400 Prepaid business rates of £300 The motor vehicle is to be depreciated at 20% of cost Required: The adjustments to the ledger accounts for rent and business rates for the year to 31 August 2 A trading profit and loss account for the year ending 31 August 20X8, together with a balance 20х8. sheet as at that date.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transform the raw data into an ordered trial balance. Then pass adjusting entries in pure journal form, Then make working notes, then  make adjusted trial balance, then the income statement and balance sheet

28.9 The trial balance for a small business at 31 August 20X8 is as follows:
f
f
Stock 1 September 20x7
Purchases and Sales
8,200
26,000
4,400
1,600
340
40,900
Rent
Business rates
Sundry expenses
Motor vehicle at cost
Debtors and creditors
9,000
1,160
1,500
2,100
Bank
Provision for depreciation on motor vehicle
Capital at 1 September 20X7
Drawings
1,200
19,700
11,700
63,900
63,900
At 31 August 20X8 there was:
Stock valued at cost prices £9,100
Accrued rent of f400
Prepaid business rates of £300
The motor vehicle is to be depreciated at 20% of cost
Required:
1
The adjustments to the ledger accounts for rent and business rates for the year to 31 August
20X8.
2 A trading profit and loss account for the year ending 31 August 20X8, together with a balance
sheet as at that date.
Transcribed Image Text:28.9 The trial balance for a small business at 31 August 20X8 is as follows: f f Stock 1 September 20x7 Purchases and Sales 8,200 26,000 4,400 1,600 340 40,900 Rent Business rates Sundry expenses Motor vehicle at cost Debtors and creditors 9,000 1,160 1,500 2,100 Bank Provision for depreciation on motor vehicle Capital at 1 September 20X7 Drawings 1,200 19,700 11,700 63,900 63,900 At 31 August 20X8 there was: Stock valued at cost prices £9,100 Accrued rent of f400 Prepaid business rates of £300 The motor vehicle is to be depreciated at 20% of cost Required: 1 The adjustments to the ledger accounts for rent and business rates for the year to 31 August 20X8. 2 A trading profit and loss account for the year ending 31 August 20X8, together with a balance sheet as at that date.
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