Ann Felberg is the sole owner of Fehlberg's Craft Shop. Ann has provided the following trial balance (extract) and other information. FEHLBERG'S CRAFT SHOP Trial Balance (Extract) at 30 June 2006 Debit Credit Sales Sales returns Purchases Cartage inwards Commission revenue Advertising Delivery vehicle repairs Office wages Insurance Interest on loan Inventory 1 July 2005 Delivery vehicle Rates Office Supplies Other information at 30 June 2006 • Closing inventory $57 600. • Insurance of $6000 was paid on 31 March 2006 for the next 12 months. The commission revenue owing for this period was $1500. Advertising owing at the end of period was $1400. • Office supplies on hand at the end of the period is $500. 7 000 302 000 3 000 22 000 8 700 42 000 6 000 700 100 600 65 000 900 2 200 415 000 3 700

Ann Felberg is the sole owner of Fehlberg's Craft Shop. Ann has provided the following trial balance (extract) and other information. FEHLBERG'S CRAFT SHOP Trial Balance (Extract) at 30 June 2006 Debit Credit Sales Sales returns Purchases Cartage inwards Commission revenue Advertising Delivery vehicle repairs Office wages Insurance Interest on loan Inventory 1 July 2005 Delivery vehicle Rates Office Supplies Other information at 30 June 2006 • Closing inventory $57 600. • Insurance of $6000 was paid on 31 March 2006 for the next 12 months. The commission revenue owing for this period was $1500. Advertising owing at the end of period was $1400. • Office supplies on hand at the end of the period is $500. 7 000 302 000 3 000 22 000 8 700 42 000 6 000 700 100 600 65 000 900 2 200 415 000 3 700

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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