Martorrie operates a retail store. The following balances were extracted from the books ofaccounts as of 30 September 2020. Аccounts Balances Асcounts Balances $ $ Stock as at 1 23,680 Sales 186,000 October 2019 Сapital Carriage outwards Drawings Carriage inwards Cash at bank Salaries and wages 38,620 Fixtures and fittings Rent 126,360 2,000 3,500 12,000 3,100 3,040 6,640 Motor expenses 4,820 Stock at 30 29,460 September 2020 Insurance Returns inwards 2,050 3,220 780 Motor vehicles Returns outwards 18,000 Creditors 50,000 General Expenses 3,140 1,660 Premises 17,310 38,960 118,740 Debtors Purchases Electricity expenses Office Expenses 2,160 You are required to: A. Extract a trial balance from the ledger balances above. B. Prepare the Income Statement for the year ending 30 September 2017. C. Distinguish between the types of ledgers.

Martorrie operates a retail store. The following balances were extracted from the books ofaccounts as of 30 September 2020. Аccounts Balances Асcounts Balances $ $ Stock as at 1 23,680 Sales 186,000 October 2019 Сapital Carriage outwards Drawings Carriage inwards Cash at bank Salaries and wages 38,620 Fixtures and fittings Rent 126,360 2,000 3,500 12,000 3,100 3,040 6,640 Motor expenses 4,820 Stock at 30 29,460 September 2020 Insurance Returns inwards 2,050 3,220 780 Motor vehicles Returns outwards 18,000 Creditors 50,000 General Expenses 3,140 1,660 Premises 17,310 38,960 118,740 Debtors Purchases Electricity expenses Office Expenses 2,160 You are required to: A. Extract a trial balance from the ledger balances above. B. Prepare the Income Statement for the year ending 30 September 2017. C. Distinguish between the types of ledgers.

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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