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Information: THIRSK COMPUTER TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 20.4 Statement of Financial Position alc's section Fol Debit B1 Credit 365 850 B2 180 000 Capital 550 000 83 Drawings Vehicles at cost B4 240 000 Computer equipment at cost Accumulated depreciation on vehicles 85 420 000 B6 Accumulated depreciation on computer 160 000 equipment 87 220 000 Loan from Star Bank (14% p.a.) 88 80 000 Fixed deposit at Star Bank (8% p.a.) 89 245 000 Trading stock B10 90 000 Debtors control B11 110 000 Creditors control B12 24 000 Bank B13 500 Petty cash 814 500 Cash float Nominal accounts section N1 Sales 2 400 000 N2 100 000 Debtors allowances Cost of sales N3 1 350 000 Rent expense N4 55 000 Fee income N5 120 000 Interest on overdue debtors accounts N6 1200 Interest on current bank account N7 850 Interest on loan N8 28 000 Salaries & wages N9 430 000 Bad debts N10 1.100 Insurance N11 15400 Telephone N12 Vehicle expenses 9 200 N13 Repairs & maintenance 15 000 Consumable stores N14 8 200 Bank charges N15 22 000 Sundry expenses N16 8.000 N17 34 000 3 641 900 3 641 900 Adjustments and additional information: 1. The following accounts have not yet been paid on 28 February 20.4: Telephone R800 Water and electricity (Sundry expense) R640 2. Fee income of R2 300 is still outstanding for repairs done to computers. 3. The rent has only been paid up to the end of January 20.4, i.e. 11 months. Provide for the rent for February taking into account that rent was increased by 10% as 366 from 1 February 20.4. New Era Accounting: Grade 10

Information: THIRSK COMPUTER TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 20.4 Statement of Financial Position alc's section Fol Debit B1 Credit 365 850 B2 180 000 Capital 550 000 83 Drawings Vehicles at cost B4 240 000 Computer equipment at cost Accumulated depreciation on vehicles 85 420 000 B6 Accumulated depreciation on computer 160 000 equipment 87 220 000 Loan from Star Bank (14% p.a.) 88 80 000 Fixed deposit at Star Bank (8% p.a.) 89 245 000 Trading stock B10 90 000 Debtors control B11 110 000 Creditors control B12 24 000 Bank B13 500 Petty cash 814 500 Cash float Nominal accounts section N1 Sales 2 400 000 N2 100 000 Debtors allowances Cost of sales N3 1 350 000 Rent expense N4 55 000 Fee income N5 120 000 Interest on overdue debtors accounts N6 1200 Interest on current bank account N7 850 Interest on loan N8 28 000 Salaries & wages N9 430 000 Bad debts N10 1.100 Insurance N11 15400 Telephone N12 Vehicle expenses 9 200 N13 Repairs & maintenance 15 000 Consumable stores N14 8 200 Bank charges N15 22 000 Sundry expenses N16 8.000 N17 34 000 3 641 900 3 641 900 Adjustments and additional information: 1. The following accounts have not yet been paid on 28 February 20.4: Telephone R800 Water and electricity (Sundry expense) R640 2. Fee income of R2 300 is still outstanding for repairs done to computers. 3. The rent has only been paid up to the end of January 20.4, i.e. 11 months. Provide for the rent for February taking into account that rent was increased by 10% as 366 from 1 February 20.4. New Era Accounting: Grade 10

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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Information: THIRSK COMPUTER TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 20.4 Statement of Financial Position alc's section Fol Debit B1 Credit 365 850 B2 180 000 Capital 550 000 83 Drawings Vehicles at cost B4 240 000 Computer equipment at cost Accumulated depreciation on vehicles 85 420 000 B6 Accumulated depreciation on computer 160 000 equipment 87 220 000 Loan from Star Bank (14% p.a.) 88 80 000 Fixed deposit at Star Bank (8% p.a.) 89 245 000 Trading stock B10 90 000 Debtors control B11 110 000 Creditors control B12 24 000 Bank B13 500 Petty cash 814 500 Cash float Nominal accounts section N1 Sales 2 400 000 N2 100 000 Debtors allowances Cost of sales N3 1 350 000 Rent expense N4 55 000 Fee income N5 120 000 Interest on overdue debtors accounts N6 1200 Interest on current bank account N7 850 Interest on loan N8 28 000 Salaries & wages N9 430 000 Bad debts N10 1.100 Insurance N11 15400 Telephone N12 Vehicle expenses 9 200 N13 Repairs & maintenance 15 000 Consumable stores N14 8 200 Bank charges N15 22 000 Sundry expenses N16 8.000 N17 34 000 3 641 900 3 641 900 Adjustments and additional information: 1. The following accounts have not yet been paid on 28 February 20.4: Telephone R800 Water and electricity (Sundry expense) R640 2. Fee income of R2 300 is still outstanding for repairs done to computers. 3. The rent has only been paid up to the end of January 20.4, i.e. 11 months. Provide for the rent for February taking into account that rent was increased by 10% as 366 from 1 February 20.4. New Era Accounting: Grade 10
Transcribed Image Text:Information: THIRSK COMPUTER TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 20.4 Statement of Financial Position alc's section Fol Debit B1 Credit 365 850 B2 180 000 Capital 550 000 83 Drawings Vehicles at cost B4 240 000 Computer equipment at cost Accumulated depreciation on vehicles 85 420 000 B6 Accumulated depreciation on computer 160 000 equipment 87 220 000 Loan from Star Bank (14% p.a.) 88 80 000 Fixed deposit at Star Bank (8% p.a.) 89 245 000 Trading stock B10 90 000 Debtors control B11 110 000 Creditors control B12 24 000 Bank B13 500 Petty cash 814 500 Cash float Nominal accounts section N1 Sales 2 400 000 N2 100 000 Debtors allowances Cost of sales N3 1 350 000 Rent expense N4 55 000 Fee income N5 120 000 Interest on overdue debtors accounts N6 1200 Interest on current bank account N7 850 Interest on loan N8 28 000 Salaries & wages N9 430 000 Bad debts N10 1.100 Insurance N11 15400 Telephone N12 Vehicle expenses 9 200 N13 Repairs & maintenance 15 000 Consumable stores N14 8 200 Bank charges N15 22 000 Sundry expenses N16 8.000 N17 34 000 3 641 900 3 641 900 Adjustments and additional information: 1. The following accounts have not yet been paid on 28 February 20.4: Telephone R800 Water and electricity (Sundry expense) R640 2. Fee income of R2 300 is still outstanding for repairs done to computers. 3. The rent has only been paid up to the end of January 20.4, i.e. 11 months. Provide for the rent for February taking into account that rent was increased by 10% as 366 from 1 February 20.4. New Era Accounting: Grade 10
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