The following balances are extracted from Al-Mustafa Trading Company as on 31/12/2021 Stocks sales revenue Sums 250000 salaries 125000 earned discount 500 rent a shop 30000 insurance 15000 Cash debtors merchandise inventory receipt papers ? 50000 creditors 50000 Profits from the sale of assets 75000 Payment papers capital water and electricity phone fees 65000 15000 1500 Personal withdrawals 4000 bank ? furniture 5000 Real estate revenue 10000 If you know that 1. Cash equivalent to 70% of the capital 2. Debtors equal 25% of the capital 3. Merchandise inventory equals 200% of the capital 4. The bank is equivalent to 10% of the capital Required: Preparing the trial balance for Al-Mustafa Trading Company as on 31/12/2021
The following balances are extracted from Al-Mustafa Trading Company as on 31/12/2021 Stocks sales revenue Sums 250000 salaries 125000 earned discount 500 rent a shop 30000 insurance 15000 Cash debtors merchandise inventory receipt papers ? 50000 creditors 50000 Profits from the sale of assets 75000 Payment papers capital water and electricity phone fees 65000 15000 1500 Personal withdrawals 4000 bank ? furniture 5000 Real estate revenue 10000 If you know that 1. Cash equivalent to 70% of the capital 2. Debtors equal 25% of the capital 3. Merchandise inventory equals 200% of the capital 4. The bank is equivalent to 10% of the capital Required: Preparing the trial balance for Al-Mustafa Trading Company as on 31/12/2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following balances are extracted from Al-Mustafa Trading Company as on
31/12/2021
Stocks
Sums
sales revenue
250000
salaries
125000
earned discount
500
rent a shop
30000
insurance
15000
Cash
debtors
merchandise inventory
receipt papers
creditors
Profits from the sale of assets
?
50000
50000
75000
Payment papers
capital
water and electricity
phone fees
65000
15000
1500
Personal withdrawals
4000
bank
furniture
5000
Real estate revenue
10000
If you know that
1. Cash equivalent to 70% of the capital
2. Debtors equal 25% of the capital
3. Merchandise inventory equals 200% of the capital
4. The bank is equivalent to 10% of the capital
Required: Preparing the trial balance for Al-Mustafa Trading Company as on
31/12/2021
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