He hard the following interrim Balance as at the end of september Items Amount in shillings ''000" Commission earned 60,000 Debenture Interest 4000 Depreciation on Plant and Machinery 16,000 Destroyed stock 150,000 Wages prepaid 120,000 Sales( Net) 1,000,000 Provision for Court case pending 80, 000 Bank overdraft 200,000 Total 1,630,000 a With reference to the above table andcategorize the above items as either debits or credits, kepping other factor constant? b) as an Accountant in the making,if a supplier has sold you goods on credit, take us throught the process you would go throught to get it recorded in Trial Balance? c) Give two items you think should not have been omitted in the about table, stating your justification?
He hard the following interrim Balance as at the end of september Items Amount in shillings ''000" Commission earned 60,000 Debenture Interest 4000 Depreciation on Plant and Machinery 16,000 Destroyed stock 150,000 Wages prepaid 120,000 Sales( Net) 1,000,000 Provision for Court case pending 80, 000 Bank overdraft 200,000 Total 1,630,000 a With reference to the above table andcategorize the above items as either debits or credits, kepping other factor constant? b) as an Accountant in the making,if a supplier has sold you goods on credit, take us throught the process you would go throught to get it recorded in Trial Balance? c) Give two items you think should not have been omitted in the about table, stating your justification?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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He hard the following interrim Balance as at the end of september
| Items |
Amount in shillings ''000" |
| Commission earned | 60,000 |
| Debenture Interest | 4000 |
| 16,000 | |
| Destroyed stock | 150,000 |
| Wages prepaid | 120,000 |
| Sales( Net) | 1,000,000 |
| Provision for Court case pending | 80, 000 |
| Bank overdraft | 200,000 |
| Total | 1,630,000 |
a With reference to the above table andcategorize the above items as either debits or credits, kepping other factor constant?
b) as an Accountant in the making,if a supplier has sold you goods on credit, take us throught the process you would go throught to get it recorded in
c) Give two items you think should not have been omitted in the about table, stating your justification?
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