Jay Shah has the following balances as of 31 December in the accounts 45 300 3 000 70 000 400 250 350 550 Equity Motor vehicle Building Office furniture A Smith (accounts receivables) J Andrews (Accounts payables) T Williams (Accounts payables) G Woodley ((accounts receivables) Purchases returns Bank Electricity Business rates and taxes Rent Wages Long-term loan Revenue Purchases 150 500 3 600 1400 1800 1 600 3 500 9 000 100 000 70 000 Required i. Prepare Jay Shah's trial balance as at 31 December. ii. An indication of which balances are assets, liabilities, equity, income and expenses.

Jay Shah has the following balances as of 31 December in the accounts 45 300 3 000 70 000 400 250 350 550 Equity Motor vehicle Building Office furniture A Smith (accounts receivables) J Andrews (Accounts payables) T Williams (Accounts payables) G Woodley ((accounts receivables) Purchases returns Bank Electricity Business rates and taxes Rent Wages Long-term loan Revenue Purchases 150 500 3 600 1400 1800 1 600 3 500 9 000 100 000 70 000 Required i. Prepare Jay Shah's trial balance as at 31 December. ii. An indication of which balances are assets, liabilities, equity, income and expenses.

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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