From the above trial balance, prepare for the year ended march 31, 1996, Lester brooks'i) trading and profit and loss account. (The horizonal way)ii) balance sheet Lester Brooks Trial BalanceAs at March 31, 1996DRCR37 000CapitalCash3 5251 500Bank (o/d)Rent paid700Purchases14 225Stock March 1, 199517 550635Discount ReceivedDiscount Allowed440Purchases return725Carriage inwards135Sales return350Carriage outwards230Sales20 135Machinery15 0007,000845FurnitureDebtorsCreditors1 005Drawings1 00061 00061 060Stock on March 31 1996 S18 000

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Description: From the above trial balance, prepare for the year ended march 31, 1996, Lester brooks'i) trading and profit and loss account. (The horizonal way)ii) balance sheet Lester Brooks Trial BalanceAs at March 31, 1996DRCR37 000CapitalCash3 5251 500Bank (o/

Financial statement is prepared from the trial balance which include :- Profit and loss and…

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Business

Accounting

From the above trial balance, prepare for the year ended march 31, 1996, Lester brooks' i) trading and profit and loss account. (The horizonal way) ii) balance sheet

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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