39.3X Prepare the final accounts of the Printers' Cooperative Credit Union Ltd for the year ended 31 December 2015 from the following trial balance as at 31 December 2015. Accounting expenses Auditor's remuneration Dr $ 8,400 1,950 2010
39.3X Prepare the final accounts of the Printers' Cooperative Credit Union Ltd for the year ended 31 December 2015 from the following trial balance as at 31 December 2015. Accounting expenses Auditor's remuneration Dr $ 8,400 1,950 2010
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![39.3X Prepare the final accounts of the Printers'
Cooperative Credit Union Ltd for the year ended
31 December 2015 from the following trial balance
as at 31 December 2015.
Accounting expenses
Auditor's remuneration
Advertising and publicity
Repairs and maintenance
General expenses
Affiliation fees
Mortgage with building society
(repayable over period 5-15 years)
Loans to members
Buildings at cost
Motor vehicles at cost
Provision for depreciation: buildings
Provision for depreciation: motor
vehicles
Cash and bank balances
Interest income:
Interest on members' loans
Interest on investments
Interest on members' deposits
Members' deposits [repayable at
short notice)
Undistributed surplus from last year
Statutory reserve
Share capital
Investments
Dr
$
8,400
1,950
3,060
2,100
4,630
2,000
271,600
220,000
30,000
52,770
6,220
Cr
167,600
770,330
$
115,500
60,000
10,000
34,600
11,180
61,400
7,650
40,000
430,000
770,330
The following must be taken into consideration as
on 31 December 2015:
(a) accrued affiliation fees of $500: honorarium to
retiring secretary of $1,500
[b] advertising prepaid, $480
(c) provide for depreciation: buildings at 2% of cost;
motor vehicle at 10% of cost
(d) transfer to statutory reserve 10% of year's
surplus
(e) proposed dividends: 2% of share capital.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9c29380c-919e-463f-9157-1cd33c10d943%2Fa5bf4d35-0ed9-4a41-9730-3c40050072c7%2F6tufqfn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:39.3X Prepare the final accounts of the Printers'
Cooperative Credit Union Ltd for the year ended
31 December 2015 from the following trial balance
as at 31 December 2015.
Accounting expenses
Auditor's remuneration
Advertising and publicity
Repairs and maintenance
General expenses
Affiliation fees
Mortgage with building society
(repayable over period 5-15 years)
Loans to members
Buildings at cost
Motor vehicles at cost
Provision for depreciation: buildings
Provision for depreciation: motor
vehicles
Cash and bank balances
Interest income:
Interest on members' loans
Interest on investments
Interest on members' deposits
Members' deposits [repayable at
short notice)
Undistributed surplus from last year
Statutory reserve
Share capital
Investments
Dr
$
8,400
1,950
3,060
2,100
4,630
2,000
271,600
220,000
30,000
52,770
6,220
Cr
167,600
770,330
$
115,500
60,000
10,000
34,600
11,180
61,400
7,650
40,000
430,000
770,330
The following must be taken into consideration as
on 31 December 2015:
(a) accrued affiliation fees of $500: honorarium to
retiring secretary of $1,500
[b] advertising prepaid, $480
(c) provide for depreciation: buildings at 2% of cost;
motor vehicle at 10% of cost
(d) transfer to statutory reserve 10% of year's
surplus
(e) proposed dividends: 2% of share capital.
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