**Financial Accounting: Trial Balance of T Owen at 31 March 2009**The table below presents the trial balance as of 31 March 2009 for T Owen. This trial balance is essential for preparing financial statements and ensuring that the accounts are balanced (i.e., the total debits equal the total credits).| **Account Description** | **Dr (£)** | **Cr (£)** ||--------------------------------------|-----------|--------------|| Inventory: 1 April 2008 | 52,800 | || Sales | | 276,400 || Purchases | 141,300 | || Carriage inwards | 1,350 | || Carriage outwards | | 5,840 || Returns outwards | | 2,408 || Wages and salaries | 63,400 | || Business rates | 3,800 | || Communication expenses | | || Commissions paid | 714 | || Insurance | 1,930 | || Sundry expenses | 1,830 | || Buildings | 208 | || Accounts receivable | 125,000 | || Accounts payable | | 45,900 || Fixtures | | 24,870 || Cash at bank | 1,106 | || Cash in hand | 31,420 | || Drawings | 276 | || Capital | | 210,516 || **Total** | 514,194 | 514,194 |**Additional Information:**- **Inventory at 31 March 2009** was valued at £58,440.In this trial balance:- **Debits (Dr)** and **Credits (Cr)** columns are balanced, each summing to £514,194.- The large credit figures include Sales (£276,400) and Capital (£210,516).- Major debit figures include Purchases (£141,300), Accounts receivable (£125,000), and Wages and salaries (£63,400). Understanding this trial balance is crucial for students and businesses to verify the accuracy of their accounting entries before preparing financial statements.

Final accounts of business means Income statement and Balance sheet of business.

9.5A The following is the trial balance of T Owen as at 31 March 2009. Draw up a set of financiat statements for the year ended 31 March 2009. Dr Cr £. Inventory: 1 April 2008 Sales Purchases Carriage inwards Carriage outwards Returns outwards Wages and salaries Business. rates Communication expenses Commissions paid Insurance Sundry expenses Bulldings Accounts receivable Accounts payable Flxtures Cash at bank Cash in hand Drawings Capltal 52,800 276,400 141,300 1,350 5,840 2,408 63,400 3,800 714 1,930 1,830 208 125,000 45,900 24,870 1,106 31,420 276 37,320 210,516 514,194 514,194 Inventory at 31 March 2009 was f58,440.

9.5A The following is the trial balance of T Owen as at 31 March 2009. Draw up a set of financiat statements for the year ended 31 March 2009. Dr Cr £. Inventory: 1 April 2008 Sales Purchases Carriage inwards Carriage outwards Returns outwards Wages and salaries Business. rates Communication expenses Commissions paid Insurance Sundry expenses Bulldings Accounts receivable Accounts payable Flxtures Cash at bank Cash in hand Drawings Capltal 52,800 276,400 141,300 1,350 5,840 2,408 63,400 3,800 714 1,930 1,830 208 125,000 45,900 24,870 1,106 31,420 276 37,320 210,516 514,194 514,194 Inventory at 31 March 2009 was f58,440.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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