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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

FINANCIAL ACCOUNTING
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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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:

  1. Closing stock $7928
  2. Deprecoate machinery by 5%
  3. Wages outstanding $300
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