You are required to prepare a trial balance for Alina, a sole proprietorship as at 31st December 2021 and assess the source and structure of the trial Balance of Alina .
You are required to prepare a
December 2021 and assess the source and structure of the trial Balance of Alina .
The following information should be used to prepare the trial balance.
£000
Capital 200 - Source - General ledger
Stocks 40 - Source - General ledger
Sales 100 - Source - Sales ledger or
Cash and cash equivalent 110 - Source -
Bank loan 70 - Source - General ledger
Furniture and Fittings 180 - Source - General ledger or nominal ledger
Trade Receivables 30 - Source - Sales ledger or receivables ledger
Trade Payables 40 - Source - Payable ledger or purchase ledger
Wages 50 - Source - General ledger or nominal ledger
TASK 2
From the data below please complete a P&L Account
Opening Stock - £800,000
Advertising expenses - £60,000
Rent - £15,000
Salaries - £56,000
Commission - £5,000
Other expenses - £7,000
Closing Stock - £200,000
Sales - £1,100,000
From the data below please complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity.
Land - £ 44,300
Equipment - £45,000
Intangible asset - £3,800
Accounts Payable - £30,000
Notes Payable - £30,000
Building and Improvements - £250,000
Account Expenses - £7,100
Additional Paid in capital - £20,000
Common Stock - £10,000
Long term Liabilities - £200,000
Inventory - £15,000
Investments - £14,000
Step by step
Solved in 3 steps with 3 images
From the data below please complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity.
Land - £ 44,300
Equipment - £45,000
Intangible asset - £3,800
Accounts Payable - £30,000
Notes Payable - £30,000
Building and Improvements - £250,000
Account Expenses - £7,100
Additional Paid in capital - £20,000
Common Stock - £10,000
Long term Liabilities - £200,000
Inventory - £15,000
Investments - £14,000
Long Term Loan - £195,000
Cash and cash - £100,000
by Bartleby Expert
