Illustration 3From the following balances extracted from the books of Pearl, a trader, prepare trial balanceas on 31st March, 2017.ParticularsParticularsСаpitalBills receivable44,000 Interest on investment5,000 Customs duty800 Computer4,000 Sales75,000 Opening stock2,0003,000WagesDrawingsPurchases20,00072,00010,200 Illustration 7From the following information, prepare profit and loss account for the year ended 31stDecember, 2017.ParticularsParticulars2,100Gross profit b/d60,000 Interest received4,000Freight outward15,000 Financial charges8,000Packing charges (on sales)12,000 Repairs on vehicles used in office3,000Salesmen commission paid1,300 Depreciation on vehicles used in office9,000Promotional expenses10,200 Interest paid7,000Office telephone expenses22,400 Rent received4,000Bad debts recovered4,000 Carriage inwards

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Illustration 3 From the following balances extracted from the books of Pearl, a trader, prepare trial balance as on 31st March, 2017. Particulars Particulars Саpital Bills receivable 44,000 Interest on investment 2,000 3,000 5,000 Customs duty 800 Computer Wages Drawings Purchases 20,000 4,000 Sales 72,000 75,000 Opening stock 10,200

Illustration 3 From the following balances extracted from the books of Pearl, a trader, prepare trial balance as on 31st March, 2017. Particulars Particulars Саpital Bills receivable 44,000 Interest on investment 2,000 3,000 5,000 Customs duty 800 Computer Wages Drawings Purchases 20,000 4,000 Sales 72,000 75,000 Opening stock 10,200

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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