dont give answer in image format Delalande's trial balance as at 30 April 2022 was as follows:Capital account as at 01 May 2021Bank financingCreditorsDebtorsPurchasesBankVehicles on 01 May 2021Provision for depreciation 01 May 2021Inventory as at 01 May 2021Equipments on 01 May 2021Provision for depreciation on 01 May 2021SalariesRentInsuranceCommissionGeneral expensesSales$4. Rent prepaid amounted to $5,0005. Insurance includes a prepayment of $1,000.6. Commission accrued during the year was $3,600.44,750181,00042,10046,00025,50026,25027,50024,739$50,00030,00022,00011,00024,33920,40014,50018,500227,100417,839417,839The following information is relevant:1. Inventory as at 30 April 2022 was valued at $46,000.2. The equipments which were bought on 01 July 2017 were sold at $4,000 cashduring the year ended 30 April 2022. The firm's policy is to depreciateequipments and vehicles at the rate of 20% per annum on straight-line basis and25% per annum on reducing balance method respectively. A full year'sdepreciation is provided in the year of purchase and none in the year of disposal.3. Salaries payable but owing amounted to $1,250.Prepare Delalande's income statement for the year ended on 30 April 2022 andstatement of financial position as at that date after taking into account theabove adjustments.

Financial Statement comprises of Income Statement, Balance Sheet, cash flow statement and Notes to…

Delalande's trial balance as at 30 April 2022 was as follows: Capital account as at 01 May 2021 Bank financing Creditors Debtors Purchases Bank Vehicles on 01 May 2021 Provision for depreciation 01 May 2021 Inventory as at 01 May 2021 Equipments on 01 May 201 44,750 181,000 42,100 46,000 25.500 $ 50,000 30,000 22,000 11,000 24,339

Delalande's trial balance as at 30 April 2022 was as follows: Capital account as at 01 May 2021 Bank financing Creditors Debtors Purchases Bank Vehicles on 01 May 2021 Provision for depreciation 01 May 2021 Inventory as at 01 May 2021 Equipments on 01 May 201 44,750 181,000 42,100 46,000 25.500 $ 50,000 30,000 22,000 11,000 24,339

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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