Following balances are given in the Trial Balance:Dr($)Dr($)1,00,00020,0001,20020,500CapitalDrawingsBad DebtsSundry DebtorsProvision for Doubtful DebtsSalaries OutstandingPrepaid InsuranceInterest on Investment Account2,0001,000200500400Commission Received in AdvanceAdjustments:(i) Further Bad Debts$500(ii) Make Provision for Doubtful debts @5% on Sundry Debtors;(iii) Interest on Capital$ 10,000;(iv) Interest on Drawings $ 1,000.Show how the above balances and adjustments will appear in the Final Accounts:

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Following balances are given in the Trial Balance: Dr($) Dr($) 1,00,000 20,000 1,200 20,500 Capital Drawings Bad Debts Sundry Debtors Provision for Doubtful Debts Salaries Outstanding Prepaid Insurance 2,000 1,000 200 Interest on Investment Account 500 Commission Received in Advance 400 Adjustments:(i) Further Bad Debts$500 (ii) Make Provision for Doubtful debts @5% on Sundry Debtors; (ii) Interest on Capital$ 10,000; (iv) Interest on Drawings $ 1,000. Show how the above balances and adjustments will appear in the Final Accounts:

Following balances are given in the Trial Balance: Dr($) Dr($) 1,00,000 20,000 1,200 20,500 Capital Drawings Bad Debts Sundry Debtors Provision for Doubtful Debts Salaries Outstanding Prepaid Insurance 2,000 1,000 200 Interest on Investment Account 500 Commission Received in Advance 400 Adjustments:(i) Further Bad Debts$500 (ii) Make Provision for Doubtful debts @5% on Sundry Debtors; (ii) Interest on Capital$ 10,000; (iv) Interest on Drawings $ 1,000. Show how the above balances and adjustments will appear in the Final Accounts:

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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