From the following trail balance of alex and co prepare trading and profit and loss account and balance sheet as on 31st December 2010. debit Amount credit amount Machinery Debtors bank stock opening purchses drawing carriages Wages salaries insurance general expenses bad debts 12000 10690 3151 2920 9092 250 600 1910 1300 119 132 700 Sales Capital Purchase discount creditors 11439 18390 627 12408 total 42864 total 42864 Adjustment: Closing stock $7928 Deprecoate machinery by 5% Wages outstanding $300
From the following trail balance of alex and co prepare trading and profit and loss account and balance sheet as on 31st December 2010. debit Amount credit amount Machinery Debtors bank stock opening purchses drawing carriages Wages salaries insurance general expenses bad debts 12000 10690 3151 2920 9092 250 600 1910 1300 119 132 700 Sales Capital Purchase discount creditors 11439 18390 627 12408 total 42864 total 42864 Adjustment: Closing stock $7928 Deprecoate machinery by 5% Wages outstanding $300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
From the following trail balance of alex and co prepare trading and
|
debit |
Amount |
credit |
amount |
|
Machinery Debtors bank stock opening purchses drawing carriages Wages salaries insurance general expenses |
12000 10690 3151 2920 9092 250 600 1910 1300 119 132 700
|
Sales Capital Purchase discount creditors |
11439 18390 627 12408 |
|
total |
42864 |
total |
42864 |
Adjustment:
- Closing stock $7928
- Deprecoate machinery by 5%
- Wages outstanding $300
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