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

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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