dbm 105 fund x DBM 105.pdfHomeQuestion ZNot yet answeredtps://eclass.uonbi.ac.ke/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1Marked out of10.00Flag questionIOXEventsDashboardMy CoursesThis courseJoe Durango prepared the following trial balance from the accounting records of his firm, DangoTraders.TAKE AWAY CAT DUE SUNDAY 3 XSalesSales Returns and Allowances-Durango TradersTrial BalanceAs at 31.7.2019PurchasesPurchases Returns and AllowancesFreight-inAdvertisementSalariesAdministrative ExpensesStationery and PrintingOffice Equipment at CostAccumulated Depreciation: OfficeEquipmentCapital: J.Durango 1/8/2018Drawings: J.DurangoCashTrade DebtorsTrading Inventory 1/8/2018Prepaid InsuranceDr.(Kshs) Cr.(Kshs)675,0002,250436,50011,7002,25052,2003.1504.05027,00045,00078,23510,35070,6501,6203,15010,12549.480CAT-LDP 109: FUNDAMENTALS x +XhpW DEM 105.pdfDashboard/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1Drawings: J.DurangoCashTrade DebtorsTrading Inventory 1/8/2018Prepaid InsurancePrepaid RentalsTrade CreditorsTotalXEventsREQUIRED:-TAKE AWAY CAT DUE SUNDAY 3 Xa)b)C)2019My Courses45,00078,23510,35070,6501,62010,800755,755Additional Informationsti. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620for the 12 months to 31 March, 2020.stii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs.10,800 in advance--This coursestiii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on officefurniture18,000755,755iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price)CAT-LDP 109: FUNDAMENTALSRPrepare the necessary journal entries to give effect to the adjustment at the year end.Prepare the Income Statement for the enterprise for the year ended 31st July, 2019Prepare a balance sheet of the business at 31 Julyx

The transactions which takes place after the preparation of the trial balance in the books are known…

Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Prepaid Rentals Trade Creditors Total 45,000 78,235 10,350 70,650 1,620 10,800 Additional Information st i. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620 for the 12 months to 31 March, 2020. 755,755 st ii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs. 10,800 in advance REQUIRED:- 18,000 755,755 st iii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on office furniture a) iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price) b) C) 2019 st Prepare the necessary journal entries to give effect to the adjustment at the year end. Prepare the Income Statement for the enterprise for the year ended 31 July, 2019 Prepare a balance sheet of the business at 31 July st

Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Prepaid Rentals Trade Creditors Total 45,000 78,235 10,350 70,650 1,620 10,800 Additional Information st i. The enterprise took out a fire insurance policy on 1 April, 2019 and paid a premium of Kshs. 1,620 for the 12 months to 31 March, 2020. 755,755 st ii. On 1 February 2019, Durango Traders entered into a rental contract and paid a year's rental Kshs. 10,800 in advance REQUIRED:- 18,000 755,755 st iii. Depreciation of Kshs. 3,375 must still be provided for the year ended 31 July 2019 on office furniture a) iv. On 31 July 2019, the trading inventory amounted to Kshs. 59,400 (at cost price) b) C) 2019 st Prepare the necessary journal entries to give effect to the adjustment at the year end. Prepare the Income Statement for the enterprise for the year ended 31 July, 2019 Prepare a balance sheet of the business at 31 July st

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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