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ledger for Ali Company at 31\12\2000. sale 119000, interest received 14000, loss selling furniture 10000, advertising 2000 Gain on sold stock 35000, interest expens 15000, beginning inventory 70000, Ofic salaries 3500, purchase 20000, freight o 2500 purchases return 5000, purchase discount 5000 building 10 0000 O Salari

ledger for Ali Company at 31\12\2000. sale 119000, interest received 14000, loss selling furniture 10000, advertising 2000 Gain on sold stock 35000, interest expens 15000, beginning inventory 70000, Ofic salaries 3500, purchase 20000, freight o 2500 purchases return 5000, purchase discount 5000 building 10 0000 O Salari

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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Q1 The following are some of balances of the ledger for Ali Company at 31\12\2000. sales 119000, interest received 14000, loss of selling furniture 10000, advertising 20000, Gain on sold stock 35000, interest expense 15000, beginning inventory 70000, Office salaries 3500, purchase 20000, freight out 2500 purchases return 5000, purchases discount 5000, building 100000, Salaries 40000, sales discount 7000, notes payable 50000,bills payable 60000, freight in 2000, wages 20000, sales return 12000, investment revenues 25000, ending ?inventory 20000.1-net purchases NO O 10500 11000 10000
Transcribed Image Text:Q1 The following are some of balances of the ledger for Ali Company at 31\12\2000. sales 119000, interest received 14000, loss of selling furniture 10000, advertising 20000, Gain on sold stock 35000, interest expense 15000, beginning inventory 70000, Office salaries 3500, purchase 20000, freight out 2500 purchases return 5000, purchases discount 5000, building 100000, Salaries 40000, sales discount 7000, notes payable 50000,bills payable 60000, freight in 2000, wages 20000, sales return 12000, investment revenues 25000, ending ?inventory 20000.1-net purchases NO O 10500 11000 10000
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